{"F": {"ts_code": "US.SIF", "name": "SIFCO Industries", "mkt": "US", "ccy": "美元", "sw1": "航空航天与国防", "sw2": "航空航天与国防", "sw3": "", "ind": "航空航天与国防", "fin_source": "futu", "market": "AMEX", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 21.35, "pe_ttm": 33.359, "pb": 3.214, "dv_ttm": 0.0, "total_mv": 13352.56328, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [12.5], "rev_series": [0.8], "np_series": [-0.0], "roe_series": [-2.2], "rev_ttm": 0.8, "np_ttm": 0.0, "ocf_ttm": 0.0, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 3.1, "gm_median": 12.5, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": -0.9, "roe_median": -2.2, "commodity": false, "hard_ratio": 55.6, "fix_assets": 0.5, "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": 0.1, "debt_ratio": 49.7, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 6.5, "np_yoy": 86.5, "np_vol": null, "loss_years": 0, "far_share": 85.0, "earn_yield": 3.0, "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": 282.6, "ret_20": -24.0, "ret_60": 5.7, "ret_120": 49.9, "ret_250": 201.6, "mdd_250": null, "vol_250": null, "pos_52w": 73.6, "eps": -0.12}, "S": {"duration": 57, "pricing": 38, "hard": 89, "bondness": 13}, "label": "重资产陷阱", "tags": [], "text": {"像什么": ["资产很重:固定资产占总资产 56%,但毛利率最新年报只有 12.5%,产品同质、售价涨不动。", "资产负债率 50%,折旧与利息两头吃。"], "为什么(不)算钱的替代品": "只占硬资产一条(占比 56%),没有定价权:毛利率最新年报 12.5%。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": "滞胀里两头挤,成本全涨售价涨不动还吃折旧,跌得比成长股狠。除非商品价格反转,否则回避。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 3.1%(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 12.5%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 56%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 33.4 倍 粗算,约 85%(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 202%,现价在 52 周高点的 74%;近 20 / 60 / 120 日 -24% / 6% / 50%。", "行业对照": ["同富途行业「航空航天与国防」93 家中位:PE 35.4 / 股息率 0.0% / 毛利率 26.2% / 固定资产占比 13% / 分红率 4%。", "SIFCO Industries:PE 比行业中位低 2.0倍;股息率 与行业中位持平;毛利率 比行业中位低 13.7个百分点;固定资产占比 比行业中位高 42.9个百分点。"]}}