{"F": {"ts_code": "US.SPRO", "name": "Spero Therapeutics", "mkt": "US", "ccy": "美元", "sw1": "生物技术", "sw2": "生物技术", "sw3": "", "ind": "生物技术", "fin_source": "futu", "market": "NASDAQ", "list_date": "20171102", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 1.21, "pe_ttm": 8.642, "pb": 1.594, "dv_ttm": 0.0, "total_mv": 7046.414067000001, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [null], "rev_series": [0.7], "np_series": [0.1], "roe_series": [16.3], "rev_ttm": 0.7, "np_ttm": 0.1, "ocf_ttm": 0.2, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 27.8, "gm_median": null, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 12.8, "roe_median": 16.3, "commodity": false, "hard_ratio": 1.3, "fix_assets": 0.0, "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": 14.4, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 39.2, "np_yoy": 112.5, "np_vol": null, "loss_years": 0, "far_share": 42.0, "earn_yield": 11.6, "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": -48.1, "ret_20": -4.0, "ret_60": -52.4, "ret_120": -53.3, "ret_250": -39.3, "mdd_250": null, "vol_250": null, "pos_52w": 39.3, "eps": 0.15}, "S": {"duration": 19, "pricing": 32, "hard": 2, "bondness": 13}, "label": "中性", "tags": [], "text": {"像什么": ["PE 8.6 倍、股息率 0.0%、毛利率最新年报 —、固定资产占比 1%、资产负债率 14%:四轴都不突出。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 1%,毛利率最新年报 —。", "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 27.8%(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?", "毛利率未披露(公用事业 / 地产 / 综合企业常见)。无法从毛利率判断。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 1%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 8.6 倍 粗算,约 42%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -39%,现价在 52 周高点的 39%;近 20 / 60 / 120 日 -4% / -52% / -53%。", "行业对照": ["同富途行业「生物技术」593 家中位:PE 13.7 / 股息率 0.0% / 毛利率 80.5% / 固定资产占比 5% / 分红率 0%。", "Spero Therapeutics:PE 比行业中位低 5.1倍;股息率 与行业中位持平;毛利率 ;固定资产占比 比行业中位低 4.0个百分点。"]}}