民生证券MINSHENG SECURITIES航天电子(600879)/军工公司财务报表数据预测汇总利润表佰万元)2022A2023E2024E2025E主要财务指标2022A2023E2024E2025E营业总收入17476196472191024409成张能力(%)营业成本14047157511757119588营业收入增长率9.3012.4311.5211.41营业税金及附肋加687695EBT增长率12.0813.5510.9511.45销售费用318357398444净利润增长率11.1716.6116.2016.11管理费用1190133814921662盈利能力(%)研发费用893103411531272毛利率19.6219.8319.8019.75EBIT960109012101348净利润率3.753.894.054.22财务费用224281281281总资产收益率ROA1381.521.661.81资产减植损失-25-20-20-20净资产收益率ROE3.904.404.925.47投资收益-1000偿债能力营业利润67077990810561531.501.471.45营业外收支10141414速动比率0.590.610.640.67利润总额6807939211070现金比率0.240.270.31所得税293439资产负债率(%)56.6357.8558.9259.89净利润6557648881031经营效率归属于母公司净利润611712827961应收账款周转天数145.62138.34131.42124.85EBIT DA1613176219262110存货周转天数488.44439.60395.64356.07总资产周转率0.400.420.440.46资产负债表（百万元）2022A2023E2024E2025E每股指标（元）货币资金5171635178369689每股收益0.220.260.300.35应收款及票据8091861692039823每股净资产5.755.946.186.46预付款项4040443948535302每股经营现金流-0.510.981.101.24存货18797189501902619089每股股利0.070.070.070.07其他流动资产1117112911401151估值分析流动资产合计37215394854205845054PE35302622长期股权投资0000PB1.31.312固定资产4668480249134998EV/EBITDA13.5311.719.948.20无形资产1099129414961703股息收益率(%)0.900.900.900.90流动资产合计7020738877278035资产合计44235468734978553088短期借款5156515651565156现金流量表（百万元）2022A2023E2024E2025E应付款及票据12877144401610917957净利润6557648881031其他流动负债6222672472707885652671716761流动负债合计24255263202853430998营运资金变动-304286610181212长期借款390390390390经营活动现金流-1377267729983379其他长期负债407407407407资本开支-886-1026-1040-1055非流动负债合计797797797797投资0000负债合计25052271162933131794投资活动观金流-885-1026-1040-1055股本27192719271927194300000少数股东权益3539359136513721债务募资1073000股东权益合计19183197572045421294筹资活动现金流5107-472-472-472负债和股东权益合计44235468734978553088现金净流量2845118014861852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