民生证券INSHENG SECURITIES容创微纳(688002)/军工公司财务报表数据预测汇总利润表百万元)2021A2022E2023E2024E主要财务指标2021A2022E2023E2024E营业总收入1780268036304713成张能力(%)营业成本742130417562272营业收入增长率14.0250.5635.4329.85营业税金及附肋加10152027EBT增长率-30.83-31.0775.6434.76销售费用78156207266净利润增长率-21.06-33.3563.8829.30管理费用119260335430盈利能力(%)研发费用4186487901015毛利率58.3451.3451.6151.79EBIT431297522703净利润率25.7811.3013.7613.73财务用-3-2-2-2总资产收益率ROA9.435.497.788.61资产减值损失-18-13-16-15净资产收益率ROE13.238.2112.0013.58投资收益16171718偿债能力营业利润4503435687363.192.172.03营业外收支-2333速动比率1.771.221.271.36利润总额448346570739现金比率0.870.530.570.61所得税-11个92资产负债率(%)22.6427.8830.7332.79净利润459303499647经营效率归属于母公司净利润461307504651应收账款周转天数108.4881.6981.6989.85EBIT DA509403663878存货周转天数591.64448.32313.82219.68总资产周转率0.360.480.560.62资产负债表（百万元）2021A2022E2023E2024E每股指标（元）货币资金81373110301412每股收益1.030.691.131.46应收款及票据77388111991650每股净资产8.399.4110.76预付款项125112151196每股经营现金流0.490.801.762.09存货1202158914941353每股股利0.110.110.110.11其他流动资产75788390估值分析流动资产合计2988339139564701PE456732长期股权投资829099109PB5.95.54.9固定资产777116614361700EV/EBITDA39.2749.8029.7822.07无形资产181224269314股息收益率(%)0.240.240.24流动资产合计1903220625202863资产合计4891559864777564短期借款145145145145现金流量表（百万元）2021A2022E2023E2024E应付款及票据61796713021685净利润459303499647其他流动负债17527937348178106142175流动负债合计938139118202310营运资金变动-323-5513991长期借款0000经营活动现金流219358785930其他长期负债170170170170资本开支-637-386-432-493非流动负债合计170170170170投资-257-13-13-14负债合计1108156119902480投资活动观金流-878-390-436-498股本445446446446179000少数股东权益299294290286债务募资95000股东权益合计3784403744875084筹资活动现金流213-50-50负债和股东权益合计4891559864777564现金净流量-451-82298383资料来源：公司公告、民生证券研究院预测本公司具备证券投资咨询业务资格，请务必阅读最后一页免责声明证券研究报告