民生证券INSHENG SECURITIES三ー重工(600031)/机械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80,82289,55898,251107,801成长能力(%)营业成本61,17864,60370,19675,759营业收入增长率-24.3810.819.719.72营业税金及附九加368412452496EBT增长率-69.0889.2619.7724.82销售费用6,3027,0537,7378,490净利润增长率-64.4972.9318.5723.34管理费用26392,9533,2403,555盈利能力(%)研发费用6,9237,7488,5009,327毛利率24.0227.8628.5529.72EBIT7,3238,77110,948净利润率5.348.258.9210.02财务费用-294-221-229-281总资产收益率ROA2.694.505.165.96资产减值损失-104-212-208-224净资产收益率ROE6.5810.4111.3112.64投资收益7468359161,005偿债能力4,7478,2719.82312,135流动此率1.561.451.43144营业外收支858585速动比率0.970.871.031.04利润总额4,8328,3579,90812,221现金比率0.320.230.380.42所得税4287408771,082资产负债率(%)58.4255.9553.535180净利润4,4057.6179,03111,139经营效率归属于母公司净利润7,3898,76110,805应收账款周转天数114.14100.0090.0080.00EBITDA6,44210,90413,93617,424存货周转天数118.50100.0090.0090.00总资产周转率0.540.550.590.61资产负债表（百万元）2022A2023E2024E2025E每股指标（元）21,34315,25225,31828,972每股收益0.500.871.03127应收账款及票据25,6102473324,50123,994每股净资产7.668.379.1210.071,0421.0341,1231.212每股经营现金流0.481.551.8422219,73817,10118,456每股股利0.450.450.450.45其他流动资产38,02937,9642628426593估值分析流动资产合计105,76296,4699432699,227PE35201714长期股权投资2,2393,0743,9904,995PB2.32.1191.8固定资产19.63633,98341,81747.929EV/EBITDA24.4314.9910.868.47无形资产4,4384,6604,7554,851股息收益率(%)2.542.542.542.54非流动资产合计52,99367,60075,61081,982资产合计158,755164,069169,936181,209短期借款4,5404,5404,5404,540现金流量表（百万元）2022A2023E2024E2025E应付账款及票据28,90827,43427,88630,096净利润4,4057.6179,03111,139其他流动负债3418234,67433,39934,102折旧和摊销2,5723,5815,1656,477流动负债合计67,63066,64865,82568,738营运资金变动-22051.4671021922长期借款21.62521.62521.62521.625经营活动现金流4,09913,19115,64218,864其他长期负债3,4913,5203,5123,500资本开支-5,538-16966-11860-11,394非流动负债合计25,11625,14525,13725,125投资-524000负债合计92,74691,79390.96293,863投资活动现金流-144-11,394股本8,4938,4938,4938,493697000少数股东权益1.0431,87477790-20920股东权益合计66,00972,27678,97487,346筹资活动现金流4,826-2,316负债和股东权益合计158,755164,069169,936181,209现金净流量7,00210,0663,654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