民生证券MINSHENG SECURITIES顾家家居(603816)/轻工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18,01020,72423,85227,481成长能力(%)营业成本1245714,48516,69719,237营业收入增长率-18115.0615.1015.21营业税金及附助加100119131151EBT增长率2.1323.9518.8817.18销售费用29523,0883,4683,971净利润增长率8.8716.5817.1515.89管理费用362392429478盈利能力(%)研发费用301342393440毛利率30.8330.1030.0030.00EBIT1,89423473,270净利润率10.0610.1910.3810.44财务费用-12425总资产收益率ROA112511.5412.0912.25资产减植损失-309-11-12净资产收益率ROE20.4020.9321.5121.84投资收益4799114131偿债能力营业利润2,0522,4252,8753,364流动比率1.261.261.37149营业外收支244200200200速动比率0.900.891.011.12利润总额2,2962.6253,0753,564现金比率0.660.620.73所得税449466546633资产负债率(%)43.6643.5842.3642.40净利润1,848215925292931经营效率归属于母公司净利润1,8122,1132,4752,868应收款周转天数20.9932.0032.0032.00EBITDA2,5293,0943,6964,020存货周转天数55.1858.0058.0058.00总资产周转率1.121.201.23125资产负债表（百万元）2022A2023E2024E2025E每股指标（元）4,3984,7046,0657,791每股收益2.202.573.013.49应收款及票据1,0361,81920942412每股净资产10.8112.2814.0015.98预时款项130116134154每股经营现金流3.334.14446存货1,8832,2932,6433,045每股股利1.111.291.51其他流动资产922675492519估值分析流动资产合计8,3689.60711,42713,920PE17141211长期股权投资34343434PB3.43.02.62.3固定资产4.0784,5364,9525,840EV/EBITDA11.068.927.056.11无形资产8761,0291,0161,010股息收益率(%)3.003.484.084.73非流动资产合计7,7388,7049.045资产合计16,10618,31020.47223.420短期借款1,4791,4791,4791.479现金流量表（百万元）2022A2023E2024E2025E2,0141,8652150净利润1,8482,1592,5292,931其他流动负债3,1264,2764,7095,398635747905750流动负债合计6,6197.6218,3389,355营运资金变动855203232长期借款8888经营活动现金流2,4102,7393,4013,667其他长期负债405351326568资本开支-1457-1596-1.047-1,005非流动负债合计413359334576投资629000负债合计7,9808,6729,931投资活动现金流-848-1,416-726-874股本8228228228226-3900少数股东权益192238292355779-55-191242股东权益合计9,07410,33011,80013,490筹资活动现金流389.1,017-1314负债和股东权益合计16,10618,31020.47223.420现金净流量3061,3611,726资料来源：公司公告、民生证券研究院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