{"F": {"ts_code": "US.TASK", "name": "TaskUs", "mkt": "US", "ccy": "美元", "sw1": "信息技术服务", "sw2": "信息技术服务", "sw3": "", "ind": "信息技术服务", "fin_source": "futu", "market": "NASDAQ", "list_date": "20210611", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": true}, "province": null, "main_business": "", "introduction": "", "close": 7.91, "pe_ttm": 6.818, "pb": 2.418, "dv_ttm": 0.0, "total_mv": 72524.433611, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [37.8], "rev_series": [11.8], "np_series": [1.0], "roe_series": [18.6], "rev_ttm": 11.8, "np_ttm": 1.1, "ocf_ttm": 1.7, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 23.9, "gm_median": 37.8, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 8.6, "roe_median": 18.6, "commodity": false, "hard_ratio": 15.1, "fix_assets": 1.5, "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": 2.2, "debt_ratio": 42.9, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 19.0, "np_yoy": 123.0, "np_vol": null, "loss_years": 0, "far_share": 27.0, "earn_yield": 14.7, "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": 2.9, "ret_20": 8.4, "ret_60": 43.0, "ret_120": 16.9, "ret_250": -33.3, "mdd_250": null, "vol_250": null, "pos_52w": 66.0, "eps": 1.1}, "S": {"duration": 16, "pricing": 51, "hard": 24, "bondness": 13}, "label": "中性", "tags": [], "text": {"像什么": ["PE 6.8 倍、股息率 0.0%、毛利率最新年报 37.8%、固定资产占比 15%、资产负债率 43%: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 37.8%),硬资产占比 15%。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 23.9%(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 37.8%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 15%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 6.8 倍 粗算,约 27%(1 − 5/PE)。<40%,估值靠当期。"]], "价格行为": "近一年 -33%,现价在 52 周高点的 66%;近 20 / 60 / 120 日 8% / 43% / 17%。", "行业对照": ["同富途行业「信息技术服务」74 家中位:PE 15.8 / 股息率 0.0% / 毛利率 29.2% / 固定资产占比 7% / 分红率 0%。", "TaskUs:PE 比行业中位低 9.0倍;股息率 与行业中位持平;毛利率 比行业中位高 8.6个百分点;固定资产占比 比行业中位高 8.2个百分点。"]}}