民生证券INSHENG SECURITIES比亚迪(002594)/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424061588397728611832009成长能力(%)营业成本351816487707600086680981营业收入增长率96.2038.7523.8314.19营业税金及附九加7267100031238614144EBT增长率225.3646.0032.5918.16销售费用15061211822623031616净利润增长率445.8652.1842.4723.98管理费用10007141221821521632盈利能力(%)研发费用18654264783278737440毛利率17.0417.1117.6418.15EBIT21153308844094848385净利润率3.924.304.955.37财务费用-1618-1325-4281-7830总资产收益率ROA4.044.755.14资产减值损失-1386-236-106-128净资产收益率ROE14.9719.0221.812185投资收益-792-883-882-1270偿债能力21542310314416854734流动此率0.720.820.921.00营业外收支-462-100-100-100速动比率0.380.480.580.66利润总额21080309314406854634现金比率0.150.270.380.46所得税3367402157297102资产负债率(%)75.4276.8476.3374.51净利润17713269103833947532经营效率归属于母公司净利润16622252953603944680应收账款周转天数329632.0032.0032.00EBITDA41523616387518086104存货周转天数80.9580.0080.0080.00总资产周转率1.071.051.051.02资产负债表（百万元）2022A2023E2024E2025E每股指标（元）51471120498204338283476每股收益5.718.6912.3815.35应收账款及票据38828515296398373118每股净资产38.1445.6956.7670.258224112171380215748每股经营现金流48.3839.9043.4942.5579107108379133352151329每股股利1.141.301.862.30其他流动资产63173738308281389746估值分析流动资产合计240804365454498288613416PE452117长期股权投资15485179852048522985PB6.75.64.53.6固定资产131880131976127598119177EV/EBITDA16.7110.147.205.36无形资产23223273963150735238股息收益率(%)0.450.510.730.90非流动资产合计253057260533260019256153资产合计493861625987758307869570短期借款515336532153653现金流量表（百万元）2022A2023E2024E2025E应付账款及票据143766196437241701273279净利润17713269103833947532其他流动负债184426243794299806340865折旧和摊销20370307543423237719流动负债合计333345443885543660614797营运资金变动98812555015132135567长期借款7594559435941594经营活动现金流140838116141126610123880其他长期负债31533315333153331533资本开支-97189-36159-31473-31638非流动负债合计39126371263512633126投资-10463-2525-2583-2584负债合计372471481011578787647923投资活动现金流-120596-3956634938-35492股本2911291129112911508000少数股东权益10361119751427617127-16413-3490-3500-3500股东权益合计121390144975179520221646筹资活动现金流-19489-7548-7833-9249负债和股东权益合计493861625987758307869570现金净流量1363690278383979138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