{"F": {"ts_code": "US.TOL", "name": "托尔兄弟", "mkt": "US", "ccy": "美元", "sw1": "住宅施工", "sw2": "住宅施工", "sw3": "", "ind": "住宅施工", "fin_source": "futu", "market": "NYSE", "list_date": null, "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 141.73, "pe_ttm": 11.42, "pb": 1.53, "dv_ttm": 0.72, "total_mv": 1305999.431, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [25.1], "rev_series": [109.7], "np_series": [13.5], "roe_series": [16.9], "rev_ttm": 109.7, "np_ttm": 12.0, "ocf_ttm": 11.9, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 9.1, "gm_median": 25.1, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 12.3, "roe_median": 16.9, "commodity": false, "hard_ratio": 1.7, "fix_assets": 2.4, "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": 18.0, "debt_ratio": 42.9, "debt_mv": null, "payout": 8.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 1.1, "np_yoy": -14.3, "np_vol": null, "loss_years": 0, "far_share": 56.0, "earn_yield": 8.8, "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": 5.4, "ret_20": -8.6, "ret_60": 2.2, "ret_120": 0.1, "ret_250": -3.5, "mdd_250": null, "vol_250": null, "pos_52w": 84.5, "eps": 13.49}, "S": {"duration": 25, "pricing": 45, "hard": 3, "bondness": 20}, "label": "中性", "tags": [], "text": {"像什么": ["PE 11.4 倍、股息率 0.7%、毛利率最新年报 25.1%、固定资产占比 2%、资产负债率 43%: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 2%,毛利率最新年报 25.1%。", "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 9.1%(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 25.1%。取决于竞争。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 2%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 11.4 倍 粗算,约 56%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -4%,现价在 52 周高点的 84%;近 20 / 60 / 120 日 -9% / 2% / 0%。", "行业对照": ["同富途行业「住宅施工」21 家中位:PE 13.2 / 股息率 0.0% / 毛利率 20.7% / 固定资产占比 2% / 分红率 0%。", "托尔兄弟:PE 比行业中位低 1.8倍;股息率 比行业中位高 0.7个百分点;毛利率 比行业中位高 4.4个百分点;固定资产占比 比行业中位低 0.3个百分点。"]}}