民生证券INSHENG SECURITIES唐人神(002567)/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26.53929.55737,00244,820成长能力(%)营业成本24,47726,58332,67539,796营业收入增长率22.0611.3725.1921.13营业税金及附肋加3045EBT增长率185.27149.7079.6210.85销售费用476661774937净利润增长率111.77250.32179.0311.39管理费用7699581,2131469盈利能力(%)研发费用141157197239毛利率7.7710.0611.7011.21EBIT4741,18421272,357净利润率0.511.603.573.28财务费用290302339333总资产收益率ROA0732.466.186.30资产减植损失-184-380-390-474净资产收益率ROE1996.5415.7515.70投资收益202531偿债能力营业利润2055411.4471,6091.101.191.24营业外收支-33-27-29-30速动比率0.390.540.570.57利润总额1725141,580现金比率0.290.410.430.42所得税307179资产负债率(%)59.6959.0557.6056.91净利润1434831,347经营效率归属于母公司净利润1354731,3201,471应收账款周转天数4.515.005.005.00EBIT DA1,2692,0123,0463,397存货周转天数49.6843.1243.5143.51总资产周转率1.611.571.822.01资产负债表（百万元）2022A2023E2024E2025E每股指标（元）货币资金27373,606每股收益0.100.340.951.06应收款及票据336377472572每股净资产4.905.226.046.75预付款项9508341,0531,358每股经营现金流0.071.781.721.87存货3,3322,7603,5064,270每股股利0.040.130.350.39其他流动资产408566678793估值分析流动资产合计6,9017,2758,97310.600PE2171长期股权投资57575757PB1.31.21.0固定资产8,6108,6478,6398,627EV/EBITDA11396.784.313.76无形资产552552552551股息收益率(%)0.531.805.025.59流动资产合计11,53111,96912,37712,756资产合计18,43219,24321,35023,356短期借款1,1162,7632,7632,763现金流量表（百万元）2022A2023E2024E2025E应付款及票据1,94221852,7753,380净利润1434831,3471,501其他流动负债3,3401.65423927958289201,039流动负债合计6,3976,6027,5388,534营运资金变动-1339435-670-818长期借款3,2813,5003,500经营活动现金流1002,4772,384其他长期负债1,3231,2621,2601258资本开支-1.887-1,168-1.254-1.339非流动负债合计4,6044,7624,7604,758投资35000负债合计11.00111,36412,29813,292投资活动观金流-1,178-1,308股本1,3811,3881,3881,3881,13100少数股东权益6336436707001,409000股东权益合计7,4319,05210,064筹资活动现金流2,181-438-628-944负债和股东权益合计18.43219,24321,35023,356现金净流量501861527342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