民生证券INSHENG SECURITIES伯特利(603596)/汽车公司财务报表数据预测汇总2022A2023E2024E2025E主要财务指标2022A2023E2024E2025E营业总收入5,5397.61710,03813,065成长能力(%)营业成本4,2966,0977.99510,437营业收入增长率58.6137.5131.7830.16营业税金及附加30466078EBT增长率24.2832.7435.9727.77销售费用596990118净利润增长率38.4941.3437.8828.10管理费用127168221287盈利能力(%)研发费用378305402523毛利率22.4419.9620.3520.11EBIT7039341,2691,622净利润率12.6513.4613.9513.65财务费用-40-33-41-61总资产收益率ROA8.089.3710.3610.42资产减值损失12净资产收益率ROE16.5919.0020.7621.00投资收益5偿债能力7481,1361,5351,958流动此率2.132.072.021.95营业外收支15000速动比率1811.791.721.65利润总额7631,1361,5351,958现金比率0.750.630.610.60所得税62111135174资产负债率(%)47.1746.9646.8047.57净利润7011,0251,4001,784经营效率归属于母公司净利润6999881,3621,744应收账款周转天数127.76118.43116.66120.95EBITDA8661,1831.989存货周转天数76.3862.5165.8368.24总资产周转率0.640.720.760.78资产负债表（百万元）2022A2023E2024E2025E每股指标（元）228724613,1044,169每股收益1.702.403.314.24应收账款及票据1,9392,5843,3744,466每股净资产10.2312.6215.9320.17566078114每股经营现金流1.911.763.274.658991,0451,4441,953每股股利0.000.000.000.00其他流动资产1,3041,9672,3522,792估值分析流动资产合计6,4858,11710,35213,494PE412117长期股权投资051530PB6.95.64.4固定资产1,4151.6892,0122403EV/EBITDA31.5822.9816.8812.81无形资产136161194235股息收益率(%)0.000.000.000.00非流动资产合计2,1602,7913,243资产合计8.64410.54213.14316,737短期借款000现金流量表（百万元）2022A2023E2024E2025E应付账款及票据27723,5334,6216,272净利润7011,4001,784其他流动负债278390503662折旧和摊销163249303367流动负债合计3,0513.9245,124营运资金变动-120-584-390-263长期借款0000经营活动现金流7857231915其他长期负债1.0271,027资本开支-605-508-656-803非流动负债合计1,0271,0271,0271,027投资170-7-13-19负债合计4.9516,1517,962投资活动现金流-342-516-669-817股本41241241241287-000少数股东权益356393432472-160000股东权益合计4,5675,5916,9928,776筹资活动现金流-2943333负债和股东权益合计8,64410,54213.14316,737现金净流量1461746431,065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