民生证券INSHENG SECURITIES沪电股份(002463)/电子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8,3369,53911,99214,819成长能力(%)营业成本5,8126,4838,042营业收入增长率12.3614.4325.7223.57营业税金及附加64577289EBT增长率31.6835.8229.8228.04销售费用273286360445净利润增长率28.0320.1329.9830.49管理费用163191240296盈利能力(%)研发费用468553720889毛利率30.2832.0432.9433.75EBIT1,513205426673,415净利润率16.3317.1517.7318.72财务费用-1363930总资产收益率ROA10.8911.6212.7714.11资产减值损失-152-121-150-184净资产收益率ROE16.4716.9718.6220.18投资收益57-19-1215偿债能力1,5731,8702,4683,238流动此率1761.912.072.31营业外收支12速动比率0.941.131.61182利润总额1,5731,8722,4703,240现金比率0.500.931.08所得税212253333437资产负债率(%)33.8731.6431.4329.99净利润1,3621,6192,1372,802经营效率归属于母公司净利润1,3621,6362,1262,774应收账款周转天数98.2492.6395.9895.62EBITDA1,84124433,1403,983存货周转天数112.17105.00105.00105.00总资产周转率0.690.720.780.82资产负债表（百万元）2022A2023E2024E2025E每股指标（元）1,292202344745,949每股收益0.710.861.12146应收账款及票据2,25424393,1583,894每股净资产4.345.065.9972210141720每股经营现金流0.821.781.201,7861,7442,1632641每股股利0.150.180.230.31其他流动资产1,3831.496173186估值分析流动资产合计6,7267,7169,98512.690PE28231814长期股权投资43241227PB4.63.9332.8固定资产2,7192,9103,0623,205EV/EBITDA20.7615.3511.168.43无形资产102102101101股息收益率(%)0.750.901.171.53非流动资产合计5,7756,3566,6596,979资产合计12,50114.07216,64419,669短期借款1,4061.4061,4061,406现金流量表（百万元）2022A2023E2024E2025E应付账款及票据1,9262,0642,7133,230净利润1,6192,802其他流动负债498570700851折旧和摊销328388473568流动负债合计3,8294.0404,8195,487营运资金变动-3501,176-551-760长期借款78787878经营活动现金流1,5663,4002,2922,854其他长期负债327334335335资本开支-865-644-792-878非流动负债合计405412413413投资-75000负债合计4.4525.2315,899投资活动现金流-802565-878股本1,8971.9051.9050000少数股东权益0-1623-19800股东权益合计8,2679,62011,41313,769筹资活动现金流-406-501负债和股东权益合计12,50114,07216.64419,669现金净流量2787302,4511,475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