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8,33610,08912,58015,303成长能力(%)营业成本5,8126,8668,41210,065营业收入增长率12.3621.0324.7021.64营业税金及附加6481101122EBT增长率24.5722.7131.7827.70销售费用273333415505净利润增长率28.0329.8034.0627.94管理费用163202252306盈利能力(%)研发费用468565705857毛利率30.2831.9433.1334.23EBIT1,71921102,780净利润率16.3317.5218.8319.81财务费用-136-81-89-98总资产收益率ROA10.8912.3413.9215.12资产减值损失-152-84-107-125净资产收益率ROE16.4718.1320.342159投资收益-57-101-25-15偿债能力1,5732,7303,501流动此率1762.002.202.48营业外收支1速动比率0.941.201.411.71利润总额1,5732,0012,7313,502现金比率0.560.720.96所得税212260355455资产负债率(%)33.8732.1231.6829.96净利润1,3621,7412,3763,047经营效率归属于母公司净利润1,3623.031应收账款周转天数98.2492.6395.9895.62EBITDA2,0482,4863,2154,050存货周转天数112.17112.22116.25113.54总资产周转率0.690.750.800.83资产负债表（百万元）2022A2023E2024E2025E每股指标（元）1,2922,3643,5975,377每股收益0.720.931.251.60应收账款及票据2,2542,5773,3104,018每股净资产4.365.146.147.4010151820每股经营现金流0.831.081.251.621,7862,0272,5723,006每股股利0.150.250.330.43其他流动资产1,3831.4211.4551.466估值分析流动资产合计6,7268.40310.95113.886PE30231714长期股权投资43232732PB5.04.23.52.9固定资产2,71929223,1003,274EV/EBITDA20.1116.1312.099.16无形资产102102101101股息收益率(%)0.691.151.551.98非流动资产合计5,7755.9216,0676,158资产合计12,5011432417,01920,045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1,92621862,8383,312净利润1,7412,3763,047其他流动负债498602741880折旧和摊销328376435499流动负债合计3,8294,1954,9855,598营运资金变动-350-330-649-688长期借款78787878经营活动现金流1,5662,0442,3723,080其他长期负债327328329329资本开支-865-545-581-591非流动负债合计405406407407投资-75-80-30-20负债合计4.6005,3916,005投资活动现金流-802-625-611股本1,8971.8971.8971.8970000少数股东权益0-26-19-4-198-800股东权益合计8,2679,72311,62714,040筹资活动现金流-528-689负债和股东权益合计12,50114,32417,01920,045现金净流量2781,0711,2331,780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