民生证券INSHENG SECURITIES方大炭素(600516)/金属公司财务报表数据预测汇总2021A2022E2023E2024E主要财务指标2021A2022E2023E2024E营业总收入4,6525,4046,9539,006成长能力(%)营业成本3,0933,73347105,941营业收入增长率31.4416.1828.6529.53营业税金及附加7470111117EBT增长率102.7723.9738.2146.40销售费用134146188225净利润增长率98.11-17.5436.364184管理费用507443556702盈利能力(%)研发费用70102132171毛利率33.5130.9332.2634.04EBIT7739591,3251.940净利润率23.3216.5517.5419.21财务费用-156-167-182-222总资产收益率ROA5.864.295.457.53资产减值损失-41-28-22-24净资产收益率ROE7.355.717.2310.38投资收益4133279099偿债能力1,3491,2251,6222,274流动此率5.843.153.122.68营业外收支-18-12-12-10速动比率4.922.312.341.97利润总额1,3311,2131,6102,264现金比率3.681.351.401.10所得税215243306419资产负债率(%)148719.8219.4222.00净利润1,1169701,3041845经营效率归属于母公司净利润1,0858941,730应收账款周转天数36.6642.0040.0036.00EBITDA1,0141,2921,6852,335存货周转天数178.84198.31186.00160.00总资产周转率0.250.270.320.40资产负债表（百万元）2021A2022E2023E2024E每股指标（元）7,75641694,8934,735每股收益0.280.230.320.45应收账款及票据6097729271,074每股净资产3.884.114.434.38160194213272每股经营现金流-0.010.250.390.561,7382,3412,4662,759每股股利0.000.000.510.00其他流动资产2,0552,24724332,732估值分析流动资产合计12.3189,72410,93311,572PE23282014长期股权投资2,4687,1687,2687,068PB1.71.6151.5固定资产22422,49827102893EV/EBITDA16.7915.9511.808.58无形资产455448441435股息收益率(%)0.000.007.830.00非流动资产合计6,18511,13111,43711,415资产合计18,50320.85522,37022.987短期借款398448498548现金流量表（百万元）2021A2022E2023E2024E应付账款及票据7451,5171,6422,112净利润1,1169701,3041845其他流动负债9651.1241,3601.653折旧和摊销241334360395流动负债合计2,1083,0893,5014,313营运资金变动-998-295-105-29长期借款0400200100经营活动现金流9431,4842,128其他长期负债644644644644资本开支-151-584-570-573非流动负债合计6441,044844744投资656-4,500-145165负债合计2,7524,1344,3455,058投资活动现金流-276股本3,8063,8063,8063,8063000少数股东权益9861.0621,1471,262177450-150-50股东权益合计15,75116,72118,02517,929筹资活动现金流-1,766429-178负债和股东权益合计18,50320,85522,37022,987现金净流量1,923724资料来源：公司公告、民生证券研究亮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