{"F": {"ts_code": "US.RPT", "name": "Rithm Property Trust Inc", "mkt": "US", "ccy": "美元", "sw1": "抵押贷款REITs", "sw2": "抵押贷款REITs", "sw3": "", "ind": "抵押贷款REITs", "fin_source": "futu", "market": "NYSE", "list_date": "20150213", "is_fin": true, "roles": {"fin": true, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 12.94, "pe_ttm": -46.214, "pb": 0.428, "dv_ttm": 13.91, "total_mv": 10057.697816, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [null], "rev_series": [0.1], "np_series": [0.0], "roe_series": [-1.1], "rev_ttm": 0.1, "np_ttm": -0.0, "ocf_ttm": -0.1, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": -10.6, "gm_median": null, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 11.6, "roe_median": -1.1, "commodity": false, "hard_ratio": null, "fix_assets": null, "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": 0.0, "debt_ratio": 72.0, "debt_mv": null, "payout": null, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 122.9, "np_yoy": 101.6, "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": -16.3, "ret_20": 7.3, "ret_60": -9.9, "ret_120": -1.5, "ret_250": -12.6, "mdd_250": null, "vol_250": null, "pos_52w": 77.4, "eps": -0.36}, "S": {"duration": 100, "pricing": null, "hard": null, "bondness": 43}, "label": "金融·利差生意", "tags": [], "text": {"像什么": ["Rithm Property Trust Inc 是抵押贷款REITs。银行赚的是利差,券商保险赚的是资产端与费率,毛利率与固定资产两个轴对它没有意义。", "ROE 最新年报 -1.1%,PB 0.43倍,股息率 13.9%,分红率 —。", "利率上行对银行是净息差扩张(少数受益方向);对保险是资产端浮亏、对券商是交投与融资成本。"], "加息期怎么走": "按笔记:日债/美债收益率上行期,银行股是例外的受益方向;红利型大行按'现金流红利'拿,盯息差而不盯黄金。", "四问": [["当前 FCF 能覆盖多少市值?", "金融业现金流表不适用;用盈利收益率 —(1/PE)与股息率 13.9% 看。"], ["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 -13%,现价在 52 周高点的 77%;近 20 / 60 / 120 日 7% / -10% / -2%。", "行业对照": ["同富途行业「抵押贷款REITs」15 家中位:PE 7.9 / 股息率 0.0% / 毛利率 88.6% / 固定资产占比 0% / 分红率 126%。", "Rithm Property Trust Inc:PE 比行业中位低 54.1倍;股息率 比行业中位高 13.9个百分点;毛利率 ;固定资产占比 。"]}}