{"F": {"ts_code": "US.SFD", "name": "Smithfield Foods", "mkt": "US", "ccy": "美元", "sw1": "包装食品", "sw2": "包装食品", "sw3": "", "ind": "包装食品", "fin_source": "futu", "market": "NASDAQ", "list_date": "20250128", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 21.97, "pe_ttm": 8.17, "pb": 1.235, "dv_ttm": 5.12, "total_mv": 865107.045907, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [13.4], "rev_series": [155.3], "np_series": [10.0], "roe_series": [15.6], "rev_ttm": 155.3, "np_ttm": 10.6, "ocf_ttm": 11.6, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 13.4, "gm_median": 13.4, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 6.4, "roe_median": 15.6, "commodity": false, "hard_ratio": 26.6, "fix_assets": 30.9, "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": 16.4, "debt_ratio": 42.0, "debt_mv": null, "payout": 42.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 9.8, "np_yoy": 3.0, "np_vol": null, "loss_years": 0, "far_share": 39.0, "earn_yield": 12.2, "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": 2.1, "ret_20": -12.3, "ret_60": -17.0, "ret_120": -3.7, "ret_250": -1.8, "mdd_250": null, "vol_250": null, "pos_52w": 75.7, "eps": 2.51}, "S": {"duration": 18, "pricing": 39, "hard": 43, "bondness": 58}, "label": "现金流红利", "tags": ["股息率≥4%"], "text": {"像什么": ["分红率 42%、股息率 5.1%、最新一年营收增速 9.8%、资产负债率 42%:红利底仓,但不靠杠杆。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 27%,毛利率最新年报 13.4%。", "加息期怎么走": "船票:加息期底仓。放水信号出现后按 7:3 → 5:5 → 3:7 逐步让位给科技。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 13.4%(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 13.4%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 27%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 8.2 倍 粗算,约 39%(1 − 5/PE)。<40%,估值靠当期。"]], "价格行为": "近一年 -2%,现价在 52 周高点的 76%;近 20 / 60 / 120 日 -12% / -17% / -4%。", "行业对照": ["同富途行业「包装食品」64 家中位:PE 15.1 / 股息率 0.0% / 毛利率 28.4% / 固定资产占比 21% / 分红率 0%。", "Smithfield Foods:PE 比行业中位低 6.9倍;股息率 比行业中位高 5.1个百分点;毛利率 比行业中位低 15.0个百分点;固定资产占比 比行业中位高 5.8个百分点。"]}}