民生证券MINSHENG SECURITIES朗姿股份(002612)/商业零售及社会服务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3878462853956185成长能力(%)营业成本1648196523062658营业收入增长率1.1919.3316.5814.64营业税金及附加17232731EBT增长率-53.53163.2142.7329.07销售费用1645191322172493净利润增长率90.73996.1552.3829.30管理费用331379397445盈利能力(%)研发费用116148167173毛利率57.5157.5457.2657.02EBIT228326421净利润率0.413.814.985.61财务费用91382619总资产收益率ROA0.232.323.293.95资产减值损失-31303020净资产收益率ROE0.565.717.979.37投资收益5100偿债能力营业俐润50221329421流动此率0.891.011.13126营业外收支8-14-13-12速动比率0.310.570.610.79利润总额43208316409现金比率0.190.390.490.61所得税4761资产负债率(%)49.1249.7249.7049.39净利润35176269347经营效率归属于母公司净利润16176269347应收账款周转天数20.6918.0017.0017.00EBITDA321467566662存货周转天数245.95200.00180.00180.00总资产周转率0.540.630.680.73资产负债表（百万元）2022A2023E2024E2025E每股指标（元）431101113921902每股收益0.040.400.610.78应收账款及票据191292268366每股净资产6.516.977.628.38313939每股经营现金流0.531.761.301.631211100313631345每股股利0.070.070.070.07其他流动资产169247177282估值分析流动资产合计2032259232403941PE674624031长期股权投资902902902902PB3.83.52.9固定资产672709734758EV/EBITDA324721.0616.7013.50无形资产389399409419股息收益率(%)0.290.290.290.29非流动资产合计5078501249344844资产合计7110760381748785短期借款849849849849现金流量表（百万元）2022A2023E2024E2025E应付账款及票据219326345426净利润35176269347其他流动负债1220140016651859折旧和摊销234238240241流动负债合计2288257628593135营运资金变动-9135876125长期借款0000经营活动现金流236778575723其他长期负债1204120412041204资本开支-176-88-88-83非流动负债合计1204120412041204投资-54-30-25-20负债合计3492378040634339投资活动现金流-115-105股本44244244244276000少数股东权益740740740740178000股东权益合计3618382341114446筹资活动现金流-299负债和股东权益合计7110760381748785现金净流量-69580382510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