民生证券INSHENG SECURITIES海信家电(000921)/家电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67.56375,42582,57688,318成长能力(%)营业成本54,25060,09165,01168,966营业收入增长率39.6111.649.486.95营业税金及附九加399446488522EBT增长率-19.3245.3339.8822.59销售费用7,6728,3879.045净利润增长率-38.4039.7032.3521.16管理费用1,3271.4561.4861.501盈利能力(%)研发费用1,9872,21824282,597毛利率19.7020.3321.2721.91EBIT22973,3395,725净利润率1.441.802.182.47财务费用-51-32-70总资产收益率ROA1742.182.662.99资产减值损失-61-54-65-76净资产收益率ROE9.4011.8714.0115.05投资收益507603578707偿债能力2,7813,8985,1936,354流动此率1.041.081.17128营业外收支136177200180速动比率0.680.810.931.01利润总额2,9174,0745,3926,533现金比率0.180.300.400.44所得税5748011.0611,285资产负债率(%)72.1370.1466.6762.64净利润2,3433,2734,3325,248经营效率归属于母公司净利润9731,3591,7982,179应收账款周转天数473150.0050.0050.00EBITDA4,6096,1177,368存货周转天数56.7645.0050.0055.00总资产周转率1.281.27126资产负债表（百万元）2021A2022E2023E2024E每股指标（元）7.0231225317.02318,956每股收益0.711.001.321.60应收账款及票据8,98510,56611.57913.272每股净资产7.598.409.4210.62预时款项346383415440每股经营现金流3.175.512.602278,4378,84110,317每股股利0.300.400.48其他流动资产14,90914,2601240512791估值分析流动资产合计39,70044.81750,26355,776PE25181411长期股权投资1,4361.4361,4361.436PB2.1191.7固定资产5,1895,2395,2265,196EV/EBITDA6.003.031.480.97无形资产1,6441,6301,6001,567股息收益率(%)1.672.212.68非流动资产合计16,24917.50917,33317,136资产合计55,94962,32667,59572,913短期借款2,8591,2591,2591,259现金流量表（百万元）2021A2022E2023E2024E应付账款及票据23,29326,34127.25127,397净利润2,3433,2734,3325,248其他流动负债1186013,86514,30014762折旧和摊销1,1721,2711,4471.643流动负债合计38,01241,46542,81043.418营运资金变动14053,560-1.604-3.084长期借款32222222经营活动现金流4,3147,5073,099其他长期负债2,3122,2312,2312,231资本开支-1,104-1,195-1.071-1,267非流动负债合计2,3452,2532,2532,253投资67000负债合计40,35743,71845,06345,671投资活动现金流-4,423-2031,843-560股本1,3631,3631,36329000少数股东权益5,2497,1639,69712,766817-1,640-1390股东权益合计15.59118.60822,53327,242筹资活动现金流1,475负债和股东权益合计55,94962,32667.59572,913现金净流量1,2625,2311,934资料来源：公司公告、民生证券研究流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