{
|
"conclusion": {
|
"base_midpoint": "18.71774999999999898601640460",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "0.07467510785217235307319196735"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "27.8940332",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "10",
|
"required_profit": "2475841817.75883568"
|
},
|
{
|
"exit_pe": "12",
|
"required_profit": "2063201514.799029733333333333"
|
},
|
{
|
"exit_pe": "15",
|
"required_profit": "1650561211.839223786666666667"
|
},
|
{
|
"exit_pe": "18",
|
"required_profit": "1375467676.532686488888888889"
|
},
|
{
|
"exit_pe": "20",
|
"required_profit": "1237920908.87941784"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "990336727.103534272"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "825280605.9196118933333333333"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "707383376.50252448"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "618960454.43970892"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "495168363.551767136"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "412640302.9598059466666666667"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "330112242.3678447573333333333"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "247584181.775883568"
|
}
|
],
|
"required_return": "0.1",
|
"years": 5
|
},
|
"institutions": {
|
"coverage_status": "available",
|
"detail": [
|
{
|
"core_assumption": "C1汇总快照缺逐家报告日期；仅作市场预期锚，不替代法定利润。",
|
"estimates": {
|
"2026": {
|
"eps": "0.47",
|
"mark": "E",
|
"profit": "417166512.28"
|
},
|
"2027": {
|
"eps": "0.57",
|
"mark": "E",
|
"profit": "505925344.67999995"
|
},
|
"2028": {
|
"eps": "0.66",
|
"mark": "E",
|
"profit": "585808293.84"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池1家）",
|
"report_date": "2026-08-13",
|
"source_id": "SRC-EM-CONSENSUS-20260813",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "0.47",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "36.85106382978723404255319149",
|
"profit_max": "417166512.28",
|
"profit_mean": "417166512.28",
|
"profit_median": "417166512.28",
|
"profit_min": "417166512.28"
|
},
|
"2027": {
|
"eps_mean": "0.57",
|
"eps_profit_reconciliation_gap": "0.00000000000000009882881046733332620643306129",
|
"institution_count": 1,
|
"pe_on_mean": "30.38596491228070475739473210",
|
"profit_max": "505925344.67999995",
|
"profit_mean": "505925344.67999995",
|
"profit_median": "505925344.67999995",
|
"profit_min": "505925344.67999995"
|
},
|
"2028": {
|
"eps_mean": "0.66",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "26.24242424242424242424242424",
|
"profit_max": "585808293.84",
|
"profit_mean": "585808293.84",
|
"profit_median": "585808293.84",
|
"profit_min": "585808293.84"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-13",
|
"code": "300319.SZ",
|
"company": "麦捷科技",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-23",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "1.906572001052543923986743156",
|
"annual_fcf": "89199253.48",
|
"book_value_per_share": "5.554185898258841899772444505",
|
"current_fcf": "12381407.29",
|
"deduct_pe": "66.56500988868308926341506760",
|
"diluted_shares": "887588324.0",
|
"enterprise_value": "14786112575.580",
|
"market_cap": "15373029771.680",
|
"normalized_eps": "0.2601967614661861865591643362",
|
"normalized_pe": "66.56500988868309502792682265",
|
"normalized_profit": "230947607.41999998",
|
"pb": "3.118368797383892586501619498",
|
"price": "17.32",
|
"ps": "3.964703159789495037311367809",
|
"reported_pe": "51.05141345071831404824783614",
|
"ttm_attributable_profit": "301128386.71",
|
"ttm_deduct_profit": "230947607.42",
|
"ttm_eps": "0.3392658269240594471812813076",
|
"ttm_revenue": "3877473079.85"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-70180779.29000002",
|
"basis": "2025年报+2026最新累计期-2025同期",
|
"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": "1.732",
|
"implied_margin": "0.3964703159789495037311367809",
|
"implied_profit": "1537302977.168",
|
"pe": "10"
|
},
|
{
|
"implied_eps": "1.443333333333333333333333333",
|
"implied_margin": "0.3303919299824579197759473175",
|
"implied_profit": "1281085814.306666666666666667",
|
"pe": "12"
|
},
|
{
|
"implied_eps": "1.154666666666666666666666667",
|
"implied_margin": "0.2643135439859663358207578538",
|
"implied_profit": "1024868651.445333333333333333",
|
"pe": "15"
|
},
|
{
|
"implied_eps": "0.9622222222222222222222222222",
|
"implied_margin": "0.2202612866549719465172982116",
|
"implied_profit": "854057209.5377777777777777778",
|
"pe": "18"
|
},
|
{
|
"implied_eps": "0.866",
|
"implied_margin": "0.1982351579894747518655683904",
|
"implied_profit": "768651488.584",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "0.6928",
|
"implied_margin": "0.1585881263915798014924547123",
|
"implied_profit": "614921190.8672",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "0.5773333333333333333333333333",
|
"implied_margin": "0.1321567719929831679103789270",
|
"implied_profit": "512434325.7226666666666666667",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "0.4948571428571428571428571429",
|
"implied_margin": "0.1132772331368427153517533660",
|
"implied_profit": "439229422.048",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.433",
|
"implied_margin": "0.09911757899473737593278419521",
|
"implied_profit": "384325744.292",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.3464",
|
"implied_margin": "0.07929406319578990074622735617",
|
"implied_profit": "307460595.4336",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.2886666666666666666666666667",
|
"implied_margin": "0.06607838599649158395518946347",
|
"implied_profit": "256217162.8613333333333333333",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.2309333333333333333333333333",
|
"implied_margin": "0.05286270879719326716415157079",
|
"implied_profit": "204973730.2890666666666666667",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.1732",
|
"implied_margin": "0.03964703159789495037311367809",
|
"implied_profit": "153730297.7168",
|
"pe": "100"
|
}
|
],
|
"scenarios": [
|
{
|
"assumption": "需求、价格、订单或验收低于预期，利润下修且估值回归行业低位。",
|
"cagr_high": "-0.10987766203220561",
|
"cagr_low": "-0.23473253194651422",
|
"equity_value_high": "8590292820.869760",
|
"equity_value_low": "4034834506.772160",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "9.67824",
|
"price_low": "4.54584",
|
"role": "pessimistic",
|
"upside_to_high": "-0.4412101616628175519630484988",
|
"upside_to_low": "-0.7375381062355658198614318707"
|
},
|
{
|
"assumption": "以TTM扣非利润与1家机构覆盖池预期为锚，按业务质量和周期属性定价。",
|
"cagr_high": "0.0882645927513388",
|
"cagr_low": "-0.08682678256078113",
|
"equity_value_high": "23465616315.74999820",
|
"equity_value_low": "9761696387.3520",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "26.43749999999999797203280921",
|
"price_low": "10.998",
|
"role": "base",
|
"upside_to_high": "0.526414549653579559586189908",
|
"upside_to_low": "-0.3650115473441108545034642032"
|
},
|
{
|
"assumption": "订单、产品结构、良率或规模效应超预期，利润与估值中枢同步上移。",
|
"cagr_high": "0.2492532422466318",
|
"cagr_low": "0.10920811042886358",
|
"equity_value_high": "46774795189.3949870",
|
"equity_value_low": "25812177947.325",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "52.69874999999998535357028874",
|
"price_low": "29.08125",
|
"role": "optimistic",
|
"upside_to_high": "2.042653002309467976534081336",
|
"upside_to_low": "0.679056004618937644341801386"
|
}
|
]
|
}
|
