民生证券INSHENG SECURITIES容创微纳(688002)/军工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2646356547706039成张能力(%)营业成本1413183324323084营业收入增长率48.6234.7633.7926.60营业税金及附肋加11162127EBT增长率-38.9776.4743.3741.89销售费用152206273343净利润增长率-32.0545.1841.2440.58管理费用232316402504盈利能力(%)研发费用5367309771138毛利率46.5848.5949.0248.93EBIT263464665944净利润率108311.9212.8914.54财务用-8-9总资产收益率ROA4.956.297.629.06资产减值损失-78-78-78-78净资产收益率ROE7.9110.4212.9615.54投资收益011718偿债能力营业利润3044526549332.141.811.641.59营业外收支0000速动比率1.191.080.960.96利润总额304452653933现金比率0.560.500.410.41所得税3855资产负债率(%)31.4034.8037.4338.75净利润287425615878经营效率归属于母公司净利润313455643903应收账款周转天数114.09102.6892.4293.34EBIT DA4066579091240存货周转天数386.36309.09278.18250.36总资产周转率0.420.490.570.61资产负债表（百万元）2022A2023E2024E2025E每股指标（元）货币资金953111011811462每股收益0.701.021.442.02应收款及票据983120014701873每股净资产8.869.7611.0913.00预付款项117152181207每股经营现金流1.122.641.972.62存货1496147417752038每股股利0.110.110.110.11其他流动资产88869095估值分析流动资产合计3636402246985675PE74513626长期股权投资129142156172PB5.85.34.74.0固定资产1313177621852595EV/EBITDA55.9533.9124.4317.68无形资产232331432537股息收益率(%)0210.210.210.21流动资产合计2689320937404296资产合计6326723184379971短期借款420145145145现金流量表（百万元）2022A2023E2024E2025E应付款及票据744141018852410净利润287425615878其他流动负债5336738391020143193244296流动负债合计1698222828693575营运资金变动-11486-53-80长期借款888888经营活动现金流50111828831170其他长期负债200200200200资本开支-805-751-828非流动负债合计288288288288投资-100-17-18-20负债合计1986251631583863投资活动观金流-904-696-758-835股本446447447447116000少数股东权益377347320295债务募资405-27500股东权益合计4339471452806108筹资活动现金流465330-54负债和股东权益合计6326723184379971现金净流量7415771281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