{
    "id": "VAL-047",
    "category": "VAL",
    "title": "ROE 與理論市帳率情境",
    "question": "若長期 ROE 保持穩定，股權成本會如何影響合理 P/B 假設？",
    "chart": "matrix",
    "metric": "理論 P/B（倍）",
    "secondary": "長期 ROE（%）",
    "x": "長期 ROE（%）",
    "y": "股權成本（%）",
    "panels": [
        "理論 P/B 矩陣",
        "目前 P/B",
        "穩態假設"
    ],
    "filters": [
        "股票 / 同業池",
        "估值日期",
        "倍數 / 假設情境"
    ],
    "apis": [
        "FUND",
        "USER"
    ],
    "calculation": "在乾淨盈餘及穩態 USER 假設下，P/B =（ROE − g）/（股權成本 − g），對 ROE 與股權成本做情境矩陣。",
    "caveat": "模型只適用明確穩態假設且股權成本 > g；不可當所有公司的公平市帳率。；預覽數值全為合成示例，非即時行情。非美股及港股欄位、歷史深度按股票實際覆蓋。",
    "data_class": "用戶資料",
    "complexity": "高",
    "audience": "專業",
    "reach": 5,
    "frequency": 5,
    "decision": 8,
    "clarity": 8,
    "sample_labels": [
        "ROE低",
        "ROE中",
        "ROE高",
        "股權成本低",
        "股權成本高"
    ],
    "cadence": "使用者修改持倉、核銷或情境時重算；新財報入庫後重算；每週檢查資料修訂",
    "category_name": "估值",
    "score": 60.5,
    "requires_user_input": true,
    "requires_extra_plan": false,
    "source_urls": [
        "https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds"
    ],
    "rank": 790,
    "stage": "P3",
    "svg_file": "mockups/0790-VAL-047.svg",
    "demo_fingerprint": "f1be05dcd41d439e",
    "collection": "catalogue",
    "sample_annotation": {
        "sample": true,
        "as_of": "2026-10-16",
        "notice": "Charts and tables for this report are generated, deterministic synthetic sample observations for educational layout and unit demonstration only. No provider, market data or analysis engine is called, and nothing here is a statement about real securities.",
        "notice_zh": "此報告的圖表與數據為確定性生成的合成示例數據，僅供教育及版面展示；並無連接任何資料供應商或實際分析引擎，不代表任何真實證券的表現。",
        "default_filters": {
            "symbol": "0700.HK",
            "period": "1Y",
            "benchmark": "HSI"
        },
        "filters": {
            "symbol": [
                "0700.HK",
                "0005.HK",
                "AAPL.US",
                "MSFT.US",
                "SPY.US",
                "BTC-USD.CC"
            ],
            "period": [
                "1Y",
                "3Y",
                "5Y"
            ],
            "benchmark": [
                "HSI",
                "SPX",
                "BTC"
            ]
        },
        "library": {
            "version": "2026-10-19",
            "source": "https://chatgpt.com/share/6ad67223-c610-83e8-adb2-33aaf792e584",
            "sample": true
        }
    }
}