{"F": {"ts_code": "US.UPBD", "name": "Upbound Group", "mkt": "US", "ccy": "美元", "sw1": "应用软件", "sw2": "应用软件", "sw3": "", "ind": "应用软件", "fin_source": "futu", "market": "NASDAQ", "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": 18.98, "pe_ttm": 12.324, "pb": 1.508, "dv_ttm": 8.22, "total_mv": 110652.27069, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [48.4], "rev_series": [47.0], "np_series": [0.7], "roe_series": [11.1], "rev_ttm": 47.0, "np_ttm": 0.9, "ocf_ttm": 4.3, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 38.4, "gm_median": 48.4, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 1.6, "roe_median": 11.1, "commodity": false, "hard_ratio": 52.6, "fix_assets": 15.6, "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": 17.4, "debt_ratio": 78.8, "debt_mv": null, "payout": 101.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 8.7, "np_yoy": -40.7, "np_vol": null, "loss_years": 0, "far_share": 59.0, "earn_yield": 8.1, "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": 12.8, "ret_20": -4.3, "ret_60": 7.2, "ret_120": 11.3, "ret_250": -19.0, "mdd_250": null, "vol_250": null, "pos_52w": 73.4, "eps": 1.25}, "S": {"duration": 27, "pricing": 56, "hard": 84, "bondness": 78}, "label": "现金流红利", "tags": ["股息率≥4%"], "text": {"像什么": ["分红率 101%、股息率 8.2%、最新一年营收增速 8.7%、资产负债率 79%:红利底仓,但不靠杠杆。"], "为什么(不)算钱的替代品": "硬资产占比 53%、毛利率 48.4% 两条都占,但所在行业(应用软件)不在硬资产名单里(医药/科技的固定资产是产能不是储量),按主标签看。", "加息期怎么走": "船票:加息期底仓。放水信号出现后按 7:3 → 5:5 → 3:7 逐步让位给科技。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 38.4%(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 48.4%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 53%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 12.3 倍 粗算,约 59%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -19%,现价在 52 周高点的 73%;近 20 / 60 / 120 日 -4% / 7% / 11%。", "行业对照": ["同富途行业「应用软件」229 家中位:PE 27.1 / 股息率 0.0% / 毛利率 67.2% / 固定资产占比 4% / 分红率 0%。", "Upbound Group:PE 比行业中位低 14.8倍;股息率 比行业中位高 8.2个百分点;毛利率 比行业中位低 18.8个百分点;固定资产占比 比行业中位高 49.0个百分点。"]}}