民生证券INSHENG SECURITIES武进不锈(603878)/金属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2830367144344475成长能力(%)营业成本2425301735193550营业收入增长率4.8629.7020.790.91营业税金及附加14182222EBT增长率30.6676.8149.93148销售费用42516263净利润增长率22.0086.4446.45197管理费用88110133134盈利能力(%)研发费用32404949毛利率14.3017.8120.6520.65EBIT247437655665净利润率7.6010.9313.2513.39财务费用620总资产收益率ROA5.649.4712.261177资产减值损失-16-15-13-12净资产收益率ROE8.3414.1818.2717.01投资收益18182020偿债能力233446659672流动比率2432.402.462.60营业外收支12121212速动比率1.451.411.431.57利润总额246458671685现金比率0.440.410.420.55所得税318486资产负债率(%)323933.2232.8830.81净利润215401587599经营效率归属于母公司净利润215401587599应收账款周转天数77.6074.3174.3174.31EBITDA320512738757存货周转天数158.48153.23153.23153.23总资产周转率0.770.910.980.91资产负债表（百万元）2022A2023E2024E2025E每股指标（元）506557642833每股收益0.380.711.051.07应收账款及票据613749908920每股净资产4.605.045.736.2822252929每股经营现金流-0.040.550.731.151053125114641479每股股利0.270.360.520.53其他流动资产610644701704估值分析流动资产合计2804322637433965PE221288长期股权投资0183858PB1.81.7151.3固定资产650649655663EV/EBITDA13.918.716.045.89无形资产135135134134股息收益率(%)3.234.276.256.38非流动资产合计1013101010481124资产合计3817423647915089短期借款170130110100现金流量表（百万元）2022A2023E2024E2025E应付账款及票据73694911071117净利润215401587599其他流动负债250264305307折旧和摊销73758392流动负债合计1156134315211524营运资金变动-337-175-262-40长期借款55352515经营活动现金流306409646其他长期负债25292929资本开支-86-56-90-137非流动负债合计80645444投资0000负债合计1236140715751568投资活动现金流87股本4015615615610000少数股东权益000092-60-30-20股东权益合计2581282932163521筹资活动现金流-24-213-235-317负债和股东权益合计3817423647915089现金净流量435185192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