{"F": {"ts_code": "US.SGU", "name": "Star Group LP", "mkt": "US", "ccy": "美元", "sw1": "油气炼制与销售", "sw2": "油气炼制与销售", "sw3": "", "ind": "油气炼制与销售", "fin_source": "futu", "market": "NYSE", "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": 12.74, "pe_ttm": 5.612, "pb": 1.075, "dv_ttm": 5.91, "total_mv": 41801.489184, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [29.6], "rev_series": [17.8], "np_series": [0.7], "roe_series": [22.3], "rev_ttm": 17.8, "np_ttm": 0.7, "ocf_ttm": 0.7, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 17.1, "gm_median": 29.6, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 4.1, "roe_median": 22.3, "commodity": true, "hard_ratio": 19.1, "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": 1.5, "debt_ratio": 68.3, "debt_mv": null, "payout": 33.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 1.0, "np_yoy": 108.7, "np_vol": null, "loss_years": 0, "far_share": 11.0, "earn_yield": 17.8, "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": 12.6, "ret_20": -1.0, "ret_60": 1.2, "ret_120": 5.1, "ret_250": 15.4, "mdd_250": null, "vol_250": null, "pos_52w": 95.6, "eps": 1.82}, "S": {"duration": 13, "pricing": 70, "hard": 31, "bondness": 55}, "label": "中性", "tags": ["商品定价", "股息率≥4%"], "text": {"像什么": ["PE 5.6 倍、股息率 5.9%、毛利率最新年报 29.6%、固定资产占比 19%、资产负债率 68%:四轴都不突出。"], "为什么(不)算钱的替代品": "只占定价权一条(毛利率 29.6%),硬资产占比 19%。分子能跟上通胀,但没有重置成本对冲;按'定价权·品牌'看,不按硬资产看。", "加息期怎么走": "按行业与估值常规看,没有明确的利率方向性。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 17.1%(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 29.6%。取决于竞争。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 19%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 5.6 倍 粗算,约 11%(1 − 5/PE)。<40%,估值靠当期。"]], "价格行为": "近一年 15%,现价在 52 周高点的 96%;近 20 / 60 / 120 日 -1% / 1% / 5%。", "行业对照": ["同富途行业「油气炼制与销售」19 家中位:PE 15.0 / 股息率 1.5% / 毛利率 6.6% / 固定资产占比 34% / 分红率 28%。", "Star Group LP:PE 比行业中位低 9.4倍;股息率 比行业中位高 4.4个百分点;毛利率 比行业中位高 23.0个百分点;固定资产占比 比行业中位低 14.7个百分点。"]}}