浙商证券南方航空(600029)公司点评表附录：三大报表预测值资产负债表利润表(百万元)20222023E2024E2025E(百万元)20222023E2024E2025E3277138974601798700987059149179171118180521现金20240226354264369483营业成本1058621286341404691469680000营业税金及附加240493551558应收账项26564050450945484555786487939412其它应收款1939110816942383管理货用3560597666817221预付账款619926946389667765807存货1387203720972149财务货用9240542358556331其他5930826183107500579373428451279230281281274530268006公允价值变动损益(388)1151811680000投资净收益555420487453长期投资6205595260456067其他经营收益500046014632474490810932809421292832(3219948871287714139无形资产6547704270076983营业外收支673647652653在建工程33322250521974215546(3152655331352914792其他142346149955147525146578所得税2172000312001320255334708355015(33698)55331352914792141458127892135604142023(1016167408446短期借款53674371533782742064(32682)53661312114346应付款项14351163601777619071EBITDA(18445)185172652527926EPS(最新摊薄)0000(1.800.300.720.79其他73433743798000280887115429131715124928124024主要财务比率长期借款1531615316153161531620222023E2024E2025E其他100113116399109612108708成长能力256887259607260532266047营业收入-14.35%71.35%14.71%5.50%少数殿东权益14057142241463215078营业利润-254.77%115.18%163.52%9.80%41057464235954473891归属母公司净利润144.50%9.34%312001320255334708355015毛利率-21.60%13.77%17.91%18.59%现金流量表净利率-38.71%3.71%7.91%8.19%20222023E2024E2025EROE46.90%927%19.46%17.59%3465294952718029021ROIC-13.04%4.02%6.89%7.13%净利润(33698)55331352914792978265727078745382.34%81.06%77.84%74.94%财务货用9240542358556331净负债比率42.88%32.41%33.43%34.95%投资损失(555)(420)(487)(453)流动比率0.230.300.440.61营运资金变动(6991)89453427309速动比率0.220.290.430.60其它2568734422222)590(5407)(514)(2306)(1425)总资产周转率0.270.470.520.52(1446(138)2026)(1203)应收账款周转率31.3742.8936.7734.92长期投资(264)275(95)28)应付账款周转率7.988.418278.00其他(3697)(651)(185)299(26586(4866)(756-1.800.300.720.79短期借款28558(16521)67442370.191.631.501.60长期借款0002.272.563294.08其他28186)(10066(5540)(4993)(1643)23952000826840P/E-4.1625.3310369.47P/B3.312.932281.84EV/EBITDA-16.6816.3910.639.34http://www.stocke.com.cn请务必阅读正文之后的免责条款部分