民生证券INSHENG SECURITIES长城汽车(601633)/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137340196680231796268329成长能力(%)营业成本110739162794188686217030营业收入增长率0.6943.2117.8515.76营业税金及附九加5121609773028587EBT增长率4.06-17.4594.4726.82销售费用58767867950411136净利润增长率22.90-26.0060.1323.29管理费用4893688481139526盈利能力(%)研发费用644590471043112209毛利率19.3717.2318.6019.12EBIT4834399177619842净利润率6.013.114.224.50财务费用-2488597439285总资产收益率ROA4.462.683.87427资产减值损失-337-76-45-38净资产收益率ROE12.688.8412.8814.29投资收益671118013911610偿债能力796759471017512704流动此率1.121.101.131.15营业外收支840700706711速动比率0.850.900.910.91利润总额880766471088113416现金比率0.370.360.390.39所得税55453210881342资产负债率(%)64.8269.7369.9770.08净利润82536116979312074经营效率归属于母公司净利润82666116979412076应收账款周转天数17.5715.9416.241636EBITDA11444106151457617004存货周转天数73.7557.0660.5461.58总资产周转率0.740.860.910.95资产负债表（百万元）2022A2023E2024E2025E每股指标（元）35773480465944868417每股收益0.970.721.15142应收账款及票据9347120771481217109每股净资产7.688.158.969.962229264932823793每股经营现金流1.452.622.512.4522375223482902335675每股股利0370.220.350.43其他流动资产37957640866640175129估值分析流动资产合计107681149206172966200123PE28372319长期股权投资10286112861224213148PB3.53.33.02.7固定资产26949278732818328344EV/EBITDA19.5919.9613.761126无形资产819791971019711197股息收益率(%)1370.801.281.58非流动资产合计77677794428037282383资产合计185357228648253337282506短期借款5943594359435943现金流量表（百万元）2022A2023E2024E2025E应付账款及票据5936789763103307118693净利润82536116979312074其他流动负债30491393844367549006折旧和摊销6609662568157162流动负债合计95802135090152925173642营运资金变动-13121003654762529长期借款15406154061540615406经营活动现金流12311222452128920751其他长期负债8934893489348934资本开支-15859-6772-6106-7571非流动负债合计24339243392433924339投资4779-1033-1000-964负债合计120141159429177264197982投资活动现金流.10505-6625-5716-6925股本8765848784878487357000少数股东权益1221738000股东权益合计65216692197607384525筹资活动现金流3133-3347-4172-4856负债和股东权益合计185357228648253337282506现金净流量-100912273114018970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