{
|
"conclusion": {
|
"base_midpoint": "0.8547054226389408623366911035",
|
"price_label": "当前价格高于乐观情景上限",
|
"price_position": "ABOVE_OPTIMISTIC_RANGE",
|
"safety_margin_to_base_midpoint": "-15.05231420860638990664261170"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "22.0961972",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "194816313.01052228"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "155853050.408417824"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "129877542.0070148533333333333"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "111323607.43458416"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "97408156.50526114"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "77926525.204208912"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "64938771.00350742666666666667"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "51951016.80280594133333333333"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "38963262.602104456"
|
}
|
],
|
"required_return": "0.1",
|
"years": 5
|
},
|
"institutions": {
|
"coverage_status": "no_usable_forecasts",
|
"detail": [],
|
"summary": {}
|
},
|
"meta": {
|
"as_of_date": "2026-08-06",
|
"code": "300826.SZ",
|
"company": "测绘股份",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-24",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "2.354755276528780382561478189",
|
"annual_fcf": "20353583.54",
|
"book_value_per_share": "8.514622427629076156072243932",
|
"current_fcf": "-55420691.06",
|
"deduct_pe": "403.7157026062830065311640453",
|
"diluted_shares": "176334698.0",
|
"enterprise_value": "1812524168.860",
|
"market_cap": "2419312056.560",
|
"normalized_eps": "0.03398431101744932242433647404",
|
"normalized_pe": "403.7157026062830739000543416",
|
"normalized_profit": "5992613.219999999",
|
"pb": "1.611345672296637336067748309",
|
"price": "13.72",
|
"ps": "2.875898312719963294016599997",
|
"reported_pe": "168.9373425391429356446466593",
|
"ttm_attributable_profit": "14320765.44",
|
"ttm_deduct_profit": "5992613.22",
|
"ttm_eps": "0.08121354221504380266667652670",
|
"ttm_revenue": "841236995.71"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-8328152.220000001",
|
"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": 1,
|
"issues": [
|
{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 1
|
},
|
"reverse_pe": [
|
{
|
"implied_eps": "0.686",
|
"implied_margin": "0.1437949156359981647008299998",
|
"implied_profit": "120965602.828",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "0.5488",
|
"implied_margin": "0.1150359325087985317606639999",
|
"implied_profit": "96772482.2624",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "0.4573333333333333333333333333",
|
"implied_margin": "0.09586327709066544313388666656",
|
"implied_profit": "80643735.21866666666666666667",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "0.392",
|
"implied_margin": "0.08216852322057037982904571419",
|
"implied_profit": "69123201.616",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.343",
|
"implied_margin": "0.07189745781799908235041499991",
|
"implied_profit": "60482801.414",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.2744",
|
"implied_margin": "0.05751796625439926588033199993",
|
"implied_profit": "48386241.1312",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.2286666666666666666666666667",
|
"implied_margin": "0.04793163854533272156694333327",
|
"implied_profit": "40321867.60933333333333333333",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.1829333333333333333333333333",
|
"implied_margin": "0.03834531083626617725355466663",
|
"implied_profit": "32257494.08746666666666666667",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.1372",
|
"implied_margin": "0.02875898312719963294016599997",
|
"implied_profit": "24193120.5656",
|
"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": "-0.49695487694925955",
|
"cagr_low": "-0.5673515461474781",
|
"equity_value_high": "77933934.90",
|
"equity_value_low": "36674792.88",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "0.4419659646339145345064191507",
|
"price_low": "0.2079839832770746004850389683",
|
"role": "pessimistic",
|
"upside_to_high": "-0.9677867372715805732867041435",
|
"upside_to_low": "-0.9848408175454027259121691714"
|
},
|
{
|
"assumption": "以TTM归一化利润与无家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "-0.38680517560006467",
|
"cagr_low": "-0.4803353706174208",
|
"equity_value_high": "209741462.84",
|
"equity_value_low": "91686982.32",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "1.189450886404671189557939414",
|
"price_low": "0.5199599588732105351154427928",
|
"role": "base",
|
"upside_to_high": "-0.9133053289792513710234738036",
|
"upside_to_low": "-0.9621020438139059376738015457"
|
},
|
{
|
"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": "-0.3028131281464146",
|
"cagr_low": "-0.37500431698479775",
|
"equity_value_high": "398508778.94",
|
"equity_value_low": "230715609.04",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "2.259956681582883931329272473",
|
"price_low": "1.308395974568771484781741595",
|
"role": "optimistic",
|
"upside_to_high": "-0.8352801252490609379497614816",
|
"upside_to_low": "-0.9046358619118971221004561520"
|
}
|
]
|
}
|
