浙商证券TCL中环002129)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)20222023E2024E2025E318304723163145880156701093311104261133221现金10167232543933261126营业成本550677083376083963684508450845084508营业税金及附加249373417533应收账项393235192441202027759818013997其它应收款153213238305管理货用908135615121932预付账款28853711398650492923457251096528存货6430827111253财务货用792198019461996其他3754375437543754(1579)(1956)(1720)2121)非流动资产77304836888703989560公允价值变动损益56000000投资净收益1752500200长期投资6911750080008300其他经营收益303000416244909753116559297325121431587319797无形资产3664379838373932营业外收支12400在建工程1393711149892071367449121431587319797其他11169121441316714264所得税37612141587198010913413091915018417757670731092914286178172302029441313333780425492912861782短期借款6517818599456819100001300016035应付款项16576199482142727140EBITDA136301789122535271760000EPS(最新摊薄)2.113.094.024.96其他579387129047972039054430924650349929主要财务比率长期借款3191134911379114091120222023E2024E2025E7143818185919018成长能力62074725337783587734营业收入63.02%39.25%11.73%27.78%少数殿东权益9442103711165713439营业利润46.34%65.77%30.71%24.72%归属母公司殷东权37618480156069276404归属母公司净利润69.21%46.66%30.00%23.35%109134130919150184177576毛利率17.82%24.09%27.03%27.66%现金流量表净利率10.56%11.71%13.70%13.37%(百万元)20222023E2024E2025EROE15.37%18.97%19.89%19.77%5057187442227228077ROIC1126%13.47%14.53%15.05%净利润7073109291428617817438638184766558356.88%55.40%51.83%49.41%财务货用72198019461996净负债比率56.22%54.72%54.95%52.27%投资损失(1752)(500)200)(50)流动比率1381.602.02233营运资金变动660321999713657速动比率1.101.732.03其它(12046319503(926(16292)(8869(7002)(7049)总资产周转率0.720.780.740.81(16859(8142)(6108)(6092)应收账款周转率19.4320.4618.5519.72长期投资(1901)(500)(300)应付账款周转率5.905.405.185.59其他2469(137(657)1065432128087662.113.094.024.96短期借款(742)13078861565.806.898.68长期借款1927830003000300011.6314.8518.7723.63其他2(2270)(2320)(581)130871607921794P/E19.1813.0810.068.16P/B3.482.722.161.71EV/EBITDA11.508.916.574.83http://www.stocke.com.cn请务必阅读正文之后的免责条款部分