{"F": {"ts_code": "US.ODC", "name": "美国石油勘探", "mkt": "US", "ccy": "美元", "sw1": "特殊化工用品", "sw2": "特殊化工用品", "sw3": "", "ind": "特殊化工用品", "fin_source": "futu", "market": "NYSE", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 87.9, "pe_ttm": 23.01, "pb": 4.464, "dv_ttm": 0.82, "total_mv": 127352.46465, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [29.5], "rev_series": [4.9], "np_series": [0.5], "roe_series": [21.9], "rev_ttm": 4.9, "np_ttm": 0.5, "ocf_ttm": 0.8, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 6.2, "gm_median": 29.5, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 11.1, "roe_median": 21.9, "commodity": false, "hard_ratio": 48.4, "fix_assets": 1.8, "hard_note": "PP&E 毛额 × 0.5 近似净额", "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 0.9, "debt_ratio": 33.9, "debt_mv": null, "payout": 19.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 11.0, "np_yoy": 37.0, "np_vol": null, "loss_years": 0, "far_share": 78.0, "earn_yield": 4.3, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [], "ret_prev_year": null, "ret_prev2_year": null, "ret_pivot": null, "prev_year": "", "prev2_year": "", "ret_ytd": 81.1, "ret_20": -5.3, "ret_60": -7.8, "ret_120": 41.7, "ret_250": 36.2, "mdd_250": null, "vol_250": null, "pos_52w": 82.3, "eps": 3.7}, "S": {"duration": 44, "pricing": 47, "hard": 77, "bondness": 25}, "label": "成长兑现", "tags": [], "text": {"像什么": ["盈利在追估值:最新净利润同比 37%,PE TTM 23.0 倍,历史 PEG(PE ÷ 最新增速)0.62。", "经营现金流 0.8 亿(正),没有一致预期数据,风险在增速能否延续。"], "为什么(不)算钱的替代品": "只占硬资产一条(占比 48%),没有定价权:毛利率最新年报 29.5%。通胀来了成本转嫁不出去,利润跟不上通胀。这是陷阱不是保护。", "加息期怎么走": "估值不靠远期故事,加息期比纯久期抗跌;风险在订单与增速,盯业绩不盯利率。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 6.2%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。一般。"], ["能否每年提价而不掉量?", "毛利率最新年报 29.5%。取决于竞争。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 48%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 23.0 倍 粗算,约 78%(1 − 5/PE)。>70%,把 5 年后的假设砍一半,这个股票值多少钱?"]], "价格行为": "近一年 36%,现价在 52 周高点的 82%;近 20 / 60 / 120 日 -5% / -8% / 42%。", "行业对照": ["同富途行业「特殊化工用品」62 家中位:PE 28.8 / 股息率 0.7% / 毛利率 29.5% / 固定资产占比 28% / 分红率 32%。", "美国石油勘探:PE 比行业中位低 5.8倍;股息率 比行业中位高 0.1个百分点;毛利率 与行业中位持平;固定资产占比 比行业中位高 20.4个百分点。"]}}