{
|
"conclusion": {
|
"base_midpoint": "33.24675000024970646695256255",
|
"price_label": "当前价格高于乐观情景上限",
|
"price_position": "ABOVE_OPTIMISTIC_RANGE",
|
"safety_margin_to_base_midpoint": "-2.420183927726648708673161738"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "183.1310921",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "1109245508.062351385"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "887396406.449881108"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "739497005.3749009233333333333"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "633854576.0356293628571428571"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "554622754.0311756925"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "443698203.224940554"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "369748502.6874504616666666667"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "295798802.1499603693333333333"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "221849101.612470277"
|
}
|
],
|
"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": "1.455",
|
"profit": "176261954.835"
|
},
|
"2027": {
|
"eps": "2.373333333333",
|
"profit": "287510909.1466263"
|
},
|
"2028": {
|
"eps": "3.426666666667",
|
"profit": "415114065.4533737"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池6家）",
|
"report_date": "2026-08-06",
|
"source_id": "SRC-EM-CONSENSUS-20260806",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "1.455",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "78.15120274914089347079037801",
|
"profit_max": "176261954.835",
|
"profit_mean": "176261954.835",
|
"profit_median": "176261954.835",
|
"profit_min": "176261954.835"
|
},
|
"2027": {
|
"eps_mean": "2.373333333333",
|
"eps_profit_reconciliation_gap": "0.00000000000000004896857667692852233859298676",
|
"institution_count": 1,
|
"pe_on_mean": "47.91151685393931106912968785",
|
"profit_max": "287510909.1466263",
|
"profit_mean": "287510909.1466263",
|
"profit_median": "287510909.1466263",
|
"profit_min": "287510909.1466263"
|
},
|
"2028": {
|
"eps_mean": "3.426666666667",
|
"eps_profit_reconciliation_gap": "0.00000000000000003391597917700858204213500747",
|
"institution_count": 1,
|
"pe_on_mean": "33.18385214007459413595504884",
|
"profit_max": "415114065.4533737",
|
"profit_mean": "415114065.4533737",
|
"profit_median": "415114065.4533737",
|
"profit_min": "415114065.4533737"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-06",
|
"code": "688258.SH",
|
"company": "卓易信息",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-28",
|
"market": "上海证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "1.504986803047319661404305778",
|
"annual_fcf": "108166076.44",
|
"book_value_per_share": "7.905611657311561780058593437",
|
"current_fcf": "38093408.09",
|
"deduct_pe": "275.0846941386024540361418308",
|
"diluted_shares": "121142237.0",
|
"enterprise_value": "13792704770.940",
|
"market_cap": "13775083769.270",
|
"normalized_eps": "0.4133636019120234670918285915",
|
"normalized_pe": "275.0846941386024540361418308",
|
"normalized_profit": "50075791.43",
|
"pb": "14.38345379573944654387782378",
|
"price": "113.71",
|
"ps": "40.80695267871904280467480596",
|
"reported_pe": "114.4038505259728187598591912",
|
"ttm_attributable_profit": "120407518.68",
|
"ttm_deduct_profit": "50075791.43",
|
"ttm_eps": "0.9939350771605777760237331592",
|
"ttm_revenue": "337567077.79"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-70331727.25",
|
"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": "5.6855",
|
"implied_margin": "2.040347633935952140233740298",
|
"implied_profit": "688754188.4635",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "4.5484",
|
"implied_margin": "1.632278107148761712186992239",
|
"implied_profit": "551003350.7708",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "3.790333333333333333333333333",
|
"implied_margin": "1.360231755957301426822493532",
|
"implied_profit": "459169458.9756666666666666667",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "3.248857142857142857142857143",
|
"implied_margin": "1.165912933677686937276423028",
|
"implied_profit": "393573821.9791428571428571429",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "2.84275",
|
"implied_margin": "1.020173816967976070116870149",
|
"implied_profit": "344377094.23175",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "2.2742",
|
"implied_margin": "0.8161390535743808560934961193",
|
"implied_profit": "275501675.3854",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "1.895166666666666666666666667",
|
"implied_margin": "0.6801158779786507134112467659",
|
"implied_profit": "229584729.4878333333333333333",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "1.516133333333333333333333333",
|
"implied_margin": "0.5440927023829205707289974129",
|
"implied_profit": "183667783.5902666666666666667",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "1.1371",
|
"implied_margin": "0.4080695267871904280467480596",
|
"implied_profit": "137750837.6927",
|
"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": "-0.31866075394986415",
|
"cagr_low": "-0.414008092177957",
|
"equity_value_high": "2022605931.78",
|
"equity_value_low": "951814556.16",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "16.69612500039932397814314755",
|
"price_low": "7.857000000420992721143163305",
|
"role": "pessimistic",
|
"upside_to_high": "-0.8531692463248674348945286470",
|
"upside_to_low": "-0.9309031747390643503549101811"
|
},
|
{
|
"assumption": "以TTM归一化利润与6家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "-0.1625014937719539",
|
"cagr_low": "-0.29615080140309913",
|
"equity_value_high": "5675634945.68",
|
"equity_value_low": "2379536390.34",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "46.85099999994221668533329131",
|
"price_low": "19.64250000055719624857183379",
|
"role": "base",
|
"upside_to_high": "-0.5879781901333021133995841060",
|
"upside_to_low": "-0.8272579368520165662776199649"
|
},
|
{
|
"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": "-0.047785564004797276",
|
"cagr_low": "-0.14638393845475295",
|
"equity_value_high": "10783706396.64",
|
"equity_value_low": "6243198440.36",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "89.01689999863548829794186482",
|
"price_low": "51.53610000086097138853395946",
|
"role": "optimistic",
|
"upside_to_high": "-0.2171585612643084311147492321",
|
"upside_to_low": "-0.5467760091385017026775660939"
|
}
|
]
|
}
|
