浙商证券华贸物流(603128)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)20222023E2024E2025E6524792194971155222070207072398127409现金2575344045496128营业成本197211809420851237370000营业税金及附加111114应收账项2911355838964266758711824942其它应收款402333388461管理货用516484560640预付账款330249317361研发费用232529存货1118919财务货用(13)(19)(58)其他2963243283162(2)3248301631693132公允价值变动损益220000投资净收益32643长期投资340276301306其他经营收益282523256025725395011177146317952177无形资产271291320330营业外收支00在建工程024431176146317952177其他2036185319651937251306382462977210938126679251157141217163259323335183832365567短期借款250189219220888111113571648应付款项1438187419882151EBITDA12621548186622300000EPS(最新摊薄)0.680.851.041.26其他1571117013111462498471503491主要财务比率长期借款15115115115120222023E2024E2025E其他347320353340成长能力3757370540214323营业收入-10.53%6.18%15.82%14.29%少数殿东权益205250306373营业利润-1.96%24.28%22.67%21.31%归属母公司殷东权益5811698383409988归属母公司净利润5.16%25.07%22.13%21.45%97721093812667毛利率10.65%12.62%13.05%13.40%现金流量表净利率4.19%5.59%6.26%20222023E2024E2025EROE16.24%17.37%17.71%17.98%1454125710741418ROIC12.38%14.82%15.02%15.26%净利润925115714121716103606238.45%33.87%31.75%29.44%财务货用(75)(13)(19)33.67%18.89%20.62%21.54%投资损失(32)(36(39)(43)流动比率2.002.452.703.01营运资金变动37069(336)257)速动比率2.002.442.693.01其它16322(5)218)(144)4总资产周转率2.172.002.032.0058(32)(25)(16应收账款周转率6.066.50长期投资73(27)(6应付账款周转率10.2210.9810.8711.53其他210)109(92)(434)(541)1791570.680.851.041.26短期借款33(61)3010.960.821.08长期借款(818)0004.445.336377.63其他35114980286511091579P/E13.7511.009.007.41P/B2.101.751461.22EV/EBITDA10.496.464.873.44http://www.stocke.com.cn请务必阅读正文之后的免责条款部分