{"F": {"ts_code": "US.PED", "name": "Pedevco", "mkt": "US", "ccy": "美元", "sw1": "油气勘探与开发", "sw2": "油气勘探与开发", "sw3": "", "ind": "油气勘探与开发", "fin_source": "futu", "market": "AMEX", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": true, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 14.34, "pe_ttm": -5.35, "pb": 0.952, "dv_ttm": 0.0, "total_mv": 19060.746642, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [18.8], "rev_series": [0.5], "np_series": [-0.1], "roe_series": [-6.8], "rev_ttm": 0.5, "np_ttm": -0.2, "ocf_ttm": 0.3, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 16.3, "gm_median": 18.8, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": -22.6, "roe_median": -6.8, "commodity": true, "hard_ratio": 68.3, "fix_assets": 1.7, "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": 0.2, "debt_ratio": 44.8, "debt_mv": null, "payout": null, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 15.7, "np_yoy": -184.3, "np_vol": null, "loss_years": 1, "far_share": 100, "earn_yield": null, "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": 28.1, "ret_20": 35.2, "ret_60": 4.9, "ret_120": -12.7, "ret_250": 20.5, "mdd_250": null, "vol_250": null, "pos_52w": 75.9, "eps": -2.25}, "S": {"duration": 100, "pricing": 70, "hard": 100, "bondness": 13}, "label": "亏损或困境", "tags": ["商品定价"], "text": {"像什么": ["TTM 归母净利 -0.2 亿;PE 为负,估值指标失真。", "资产负债率 45%,有息负债 —,经营现金流/市值 16.3%:先看现金流能否覆盖利息,再谈久期。"], "为什么(不)算钱的替代品": "硬资产占比 68%、毛利率 18.8% 两条都占,但所在行业(油气勘探与开发)不在硬资产名单里(医药/科技的固定资产是产能不是储量),按主标签看。", "加息期怎么走": "利率上行对高杠杆亏损企业是再融资压力,不是估值问题;周期底部的反转看行业价格,不看贴现率。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 16.3%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率最新年报 18.8%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 68%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 为负 粗算,约 100%(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 20%,现价在 52 周高点的 76%;近 20 / 60 / 120 日 35% / 5% / -13%。", "行业对照": ["同富途行业「油气勘探与开发」72 家中位:PE 11.4 / 股息率 1.1% / 毛利率 39.8% / 固定资产占比 78% / 分红率 23%。", "Pedevco:PE 比行业中位低 16.8倍;股息率 比行业中位低 1.1个百分点;毛利率 比行业中位低 21.0个百分点;固定资产占比 比行业中位低 9.7个百分点。"]}}