民生证券MINSHENG SECURITIES晨光股份(603899)/轻工公司财务报表数据预测汇总利润表佰万元)2022A2023E2024E2025E主要财务指标2022A2023E2024E2025E营业总收入19,99624,90629,82335,698成长能力(%)营业成本1612419,94123,89928,666营业收入增长率13.5724.5519.7419.70营业税金及附加76100119143EBT增长率-115442.7619.1218.81销售费用1,3581,6191.9092,249净利润增长率-15.5139.1619.3718.81管理费用7949461,133盈利能力(%)研发费用184224268321毛利率19.3619.9419.8619.70EBIT1,537219426133,105净利润率6417.177.147.09财务费用-41-27-49-70总资产收益率ROA9.8511.7411.8911.93资产减值损失-19-22-26-31净资产收益率ROE18.7222.2222.4122.48投资收益000偿债能力营业利润1,6082,1992,6363,143流动比率1851.932.002.05营业外收支56575757速动比率1.521.541.611.66利润总额1,6652,2562,6933,200现金比率0.620.830.931.01所得税310397474564资产负债率(%)44.3144.0043.8043.77净利润1,3551,8592,2192637经营效率归属于母公司净利润1,2821,7852,130应收账款周转天数53.9738.0038.0038.00EBITDA20722,7513,3883,842存货周转天数36.7940.0040.0040.00总资产周转率1.641.771.801.82资产负债表（百万元）2022A2023E2024E2025E每股指标（元）货币资金3,3635,223每股收益1381.932.302.73应收账款及票据299426793,1873,814每股净资产8.6710.2612.15预付款项83179215258每股经营现金流1.463.203.343.76存货1,6252,1632,5933,110每股股利0.000.710.841.00其他流动资产1,9321,9752,029估值分析流动资产合计9,99812.17714.96818.221PE35262118长期股权投资40454749PB6.65.74.84.0固定资产1.7441,7741,7841,758EV/EBITDA20.59148411.529.65无形资产418416414412股息收益率(%)0.001.441.722.04流动资产合计3,0252,9562,996资产合计13,02315,19617.92421,217短期借款189189189189现金流量表（百万元）2022A2023E2024E2025E应付账款及票据3,9994,0974,9115,890净利润1,35518592,2192,637其他流动负债1.22623892809折旧和摊销536557775737流动负债合计5,4146,3257,4898,889营运资金变动-517590120127长期借款000经营活动现金流1,3522,9663,489其他长期负债357362362398资本开支-162-652-718流动负债合计357362362398投资000负债合计5,7706,6879,287投资活动现金流-151-720股本9279279279272000少数股东权益40347756667113037股东权益合计7,2528,50910.07411,929筹资活动观金流-922-610.759负债和股东权益合计13,02315,19617,92421,217现金净流量2891,8601,7752,010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