民生证券INSHENG SECURITIES中宠股份(002891)/农业公司财务报表数据预测汇总利润表百万元)2022A2023E2024E2025E主要财务指标2022A2023E2024E2025E营业总收入3,2483,8584,4435,581成张能力(%)营业成本2,6053,0783,5204,390营业收入增长率12.7218.7715.1825.60营业税金及附肋加1215EBT增长率-14.5070.6035.4534.46销售费用303328355446净利润增长率-8.3852.1237.8835.38管理费用117135151190盈利能力(%)研发费用43546784毛利率19.7920.2220.7721.33EBIT148252342459净利润率3.264.185.005.39财务费用15945总资产收益率ROA2.763.314.315.33资产减值损失-24-30-33-40净资产收益率ROE5.137.419.3511.36投资收益25211822偿债能力营业利润1552343224362.052.452.322.22营业外收支1011速动比率1261.571.451.29利润总额156234323437现金比率0.681.020.870.71所得税35517095资产负债率(%)42.1851.7049.9548.65净利润121183252342经营效率归属于母公司净利润106161222301应收账款周转天数40.7640.0039.0038.00EBIT DA267392526692存货周转天数85.4495.5690.0090.00总资产周转率0.950.890.891.03资产负债表（百万元）2022A2023E2024E2025E每股指标（元）货币资金578997906851每股收益0.360.550.761.02应收款及票据363419471575每股净资产7.037.398.089.00预付款项9242531每股经营现金流0.410.751.361.41存货6107788381,045每股股利0.050.070.100.13其他流动资产186170174180估值分析流动资产合计1,7452,3882,4132,681PE614021长期股权投资187208226248PB3.13.024固定资产1,0151,2911,5901,835EV/EBITDA26.0118.6314.0210.74无形资产95959595股息收益率(%)0.320.440.59流动资产合计2,0962,7462,957资产合计3,8404,8655,1585,638短期借款340340340340现金流量表（百万元）2022A2023E2024E2025E应付款及票据356456511637净利润121183252342其他流动负债153181187227120140185233流动负债合计8499761,0381,205营运资金变动-125-128-73-200长期借款45444444经营活动现金流120222399413其他长期负债7261,4941,4941494资本开支-348-478-422-407非流动负债合计7711,5381,538投资-90000负债合计1,6202,5152,5772,743投资活动观金流-436-484-422-407股本294294294294762000少数股东权益154176207248-183768-150股东权益合计2,2212,3502,5822,895筹资活动现金流511681-68-61负债和股东权益合计3,8404,8655,1585,638现金净流量214419-91资料来源：公司公告、民生证券研究院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