{
|
"conclusion": {
|
"base_midpoint": "109.5281363635841101859503690",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.3199348112716231758052246425"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "232.8314307",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "11919290921.396513655"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "9535432737.117210924"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "7946193947.59767577"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "6811023383.65515066"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "5959645460.6982568275"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "4767716368.558605462"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "3973096973.798837885"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "3178477579.039070308"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "2383858184.279302731"
|
}
|
],
|
"required_return": "0.1",
|
"years": 5
|
},
|
"institutions": {
|
"coverage_status": "available",
|
"detail": [
|
{
|
"core_assumption": "汇总接口未提供逐家报告日期；估值日仅作为C1汇总快照日期，不替代单家研报。",
|
"estimates": {
|
"2026": {
|
"eps": "3.712818181818",
|
"profit": "3801390552.322814"
|
},
|
"2027": {
|
"eps": "5.858681818182",
|
"profit": "5998445553.236687"
|
},
|
"2028": {
|
"eps": "8.019444444444",
|
"profit": "8210754971.863434"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池22家）",
|
"report_date": "2026-08-06",
|
"source_id": "SRC-EM-CONSENSUS-20260806",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "3.712818181818",
|
"eps_profit_reconciliation_gap": "0.00000000000000004093396820406101277335269397",
|
"institution_count": 1,
|
"pe_on_mean": "38.93807693249621241051402700",
|
"profit_max": "3801390552.322814",
|
"profit_mean": "3801390552.322814",
|
"profit_median": "3801390552.322814",
|
"profit_min": "3801390552.322814"
|
},
|
"2027": {
|
"eps_mean": "5.858681818182",
|
"eps_profit_reconciliation_gap": "0.0000000000000001407688029350162969362405743",
|
"institution_count": 1,
|
"pe_on_mean": "24.67619926914913258087930823",
|
"profit_max": "5998445553.236687",
|
"profit_mean": "5998445553.236687",
|
"profit_median": "5998445553.236687",
|
"profit_min": "5998445553.236687"
|
},
|
"2028": {
|
"eps_mean": "8.019444444444",
|
"eps_profit_reconciliation_gap": "0.00000000000000001926107898018399281882842760",
|
"institution_count": 1,
|
"pe_on_mean": "18.02743332178832122857110440",
|
"profit_max": "8210754971.863434",
|
"profit_mean": "8210754971.863434",
|
"profit_median": "8210754971.863434",
|
"profit_min": "8210754971.863434"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-06",
|
"code": "002353.SZ",
|
"company": "杰瑞股份",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-17",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "2.006525352495386229780993816",
|
"annual_fcf": "4505333472.27",
|
"book_value_per_share": "22.94467430610418761954740946",
|
"current_fcf": "-1448720001.13",
|
"deduct_pe": "52.84202879923414254970097102",
|
"diluted_shares": "1023855833.0",
|
"enterprise_value": "143526560060.420",
|
"market_cap": "148018837776.810",
|
"normalized_eps": "2.735890413089046967416163561",
|
"normalized_pe": "52.84202879923413715449523793",
|
"normalized_profit": "2801157357.890000286",
|
"pb": "6.300808548044575314276211560",
|
"price": "144.57",
|
"ps": "8.796530902690162303184881546",
|
"reported_pe": "52.80635040855746942343607529",
|
"ttm_attributable_profit": "2803049948.19",
|
"ttm_deduct_profit": "2801157357.89",
|
"ttm_eps": "2.737738906049676234056284368",
|
"ttm_revenue": "16826955923.22"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-1892590.299999714",
|
"basis": "2025年报加2026年最新累计期减上年同期比较数",
|
"description": "以TTM扣非归母利润替代TTM归母利润作为核心盈利代理"
|
}
|
],
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [],
|
"status": "PASS",
|
"warning_count": 0
|
},
|
"reverse_pe": [
|
{
|
"implied_eps": "7.2285",
|
"implied_margin": "0.4398265451345081151592440773",
|
"implied_profit": "7400941888.8405",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "5.7828",
|
"implied_margin": "0.3518612361076064921273952618",
|
"implied_profit": "5920753511.0724",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "4.819",
|
"implied_margin": "0.2932176967563387434394960515",
|
"implied_profit": "4933961259.227",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "4.130571428571428571428571429",
|
"implied_margin": "0.2513294543625760658052823299",
|
"implied_profit": "4229109650.766",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "3.61425",
|
"implied_margin": "0.2199132725672540575796220386",
|
"implied_profit": "3700470944.42025",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "2.8914",
|
"implied_margin": "0.1759306180538032460636976309",
|
"implied_profit": "2960376755.5362",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "2.4095",
|
"implied_margin": "0.1466088483781693717197480258",
|
"implied_profit": "2466980629.6135",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "1.9276",
|
"implied_margin": "0.1172870787025354973757984206",
|
"implied_profit": "1973584503.6908",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "1.4457",
|
"implied_margin": "0.08796530902690162303184881546",
|
"implied_profit": "1480188377.7681",
|
"pe": "100"
|
}
|
],
|
"scenarios": [
|
{
|
"assumption": "需求、验收或价格低于预期，利润下修且估值回归低位。",
|
"cagr_high": "-0.16360940664770052",
|
"cagr_low": "-0.2694968314765188",
|
"equity_value_high": "60584661927.75",
|
"equity_value_low": "30791263473.90",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "59.17303977282707925931208715",
|
"price_low": "30.07382727280902251791927819",
|
"role": "pessimistic",
|
"upside_to_high": "-0.5906962732736592705311469382",
|
"upside_to_low": "-0.7919774000635745831229212272"
|
},
|
{
|
"assumption": "以TTM归一化利润与22家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.006649488438587703",
|
"cagr_low": "-0.13597689806221958",
|
"equity_value_high": "153005969730.95",
|
"equity_value_low": "71276072856.00",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "149.4409318181322506564261572",
|
"price_low": "69.61534090903596971547458088",
|
"role": "base",
|
"upside_to_high": "0.033692549063652560395837015",
|
"upside_to_low": "-0.5184662038525560647750253795"
|
},
|
{
|
"assumption": "订单、产品结构和规模效应超预期，利润与估值中枢同步上移。",
|
"cagr_high": "0.14693425259711357",
|
"cagr_low": "0.02602233351390426",
|
"equity_value_high": "293771461883.52",
|
"equity_value_low": "168306566704.15",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "286.9265890909076844610797856",
|
"price_low": "164.3850250000480292228798583",
|
"role": "optimistic",
|
"upside_to_high": "0.984689694202861482057686834",
|
"upside_to_low": "0.137061803970727185604757960"
|
}
|
]
|
}
|
