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德邦證券公司點評興發(fā)集團(600141.SH)財務報表分析和預測20222023E2024E2025E20222023E2024E2025E每股指標（元）營業(yè)總收入30,31128,59231,23135,9155.264.384.694.99營業(yè)成本19,51620,21022,42426,46018.2623.2628.3133.4635.6%29.3%28.2%26.3%每股經(jīng)營現(xiàn)金流6.197.217.137.58營業(yè)稅金及附加256242265304每股股利1.001.001.001.00營業(yè)稅金率%0.8%0.8%0.9%0.8%價值評估（倍）營業(yè)貨用341317254365P/E5.516.816.355.981.1%1.1%0.8%1.0%P/B1.591.281.050.89482450463545P/S1.091.161.060.921.6%1.6%1.5%1.5%EV/EBITDA3.834.324.754.221,2329261,1201,264股息率%3.4%3.4%3.4%3.4%41%3.2%3.6%3.5%盈利能力指標(%)EBIT8,4826,4496,7046,97835.6%29.3%28.2%26.3%3142581427419.3%17.0%16.7%15.4%1.0%0.9%0.5%0.2%28.8%18.8%16.6%14.9%資產(chǎn)減值損失-2521-214.1%10.3%9.6%9.0%316335346409授資回報率22.3%14.5%13.1%12.0%營業(yè)利潤8,2136,5556,9927,451營業(yè)外收支-34200營業(yè)收入增長率26.8%-5.7%9.2%15.0%7,8716,5556,9927,45134.7%-24.0%4.0%4.1%EBITDA10,1918,8377,9828,604凈利潤增長率36.7%-16.8%7.2%6.3%所得稅1,0749039361,014償債能力指標有效所得稅率%13.6%13.8%13.4%13.6%資產(chǎn)負債率41.6%37.2%33.8%少數(shù)股東損益945785842895流動比率0.91.01.01.1歸屬母公司所有者凈利潤5,8524,8665,2155,543速動比率0.60.80.70.8現(xiàn)金比率0.40.60.50.620222023E2024E2025E經(jīng)營效率指標貨幣資金4,7195,6755,3796,41611.212.711.912.39299971,0231,214存貨周轉(zhuǎn)天數(shù)47.145.949.847.6存貨2,5212,5443,0573,4520.70.60.60.6其它流動資產(chǎn)1,1031,2981,2271,335固定資產(chǎn)周轉(zhuǎn)率1.31.00.90.9流動資產(chǎn)合計9,27210,51410,68612,4181,9371,9371,9371,937固定資產(chǎn)23,34127,61434,33539,671在建工程2,4662,2511,8991,61520222023E2024E2025E無形資產(chǎn)2,4572,9083,3583,809凈利潤5,8524,8665,2155,543非流動資產(chǎn)合計32,34136,85143,66949,172少數(shù)股東損益945785842895資產(chǎn)總計41,61247,36554,35661,590非現(xiàn)金支出1,9382,4141,2571.6281,9371,162581066053-24-146應付票據(jù)及應付寒款4,5614,8065,6316,355-2,511-10064050370606779經(jīng)營活動現(xiàn)全流6,8848,0177,9308,423其它流動負債4,0854,0374,3134,775資產(chǎn)2,3185,117-6,553-5,836流動負債合計10,65410,06610,59311,209-3330005,2845,2845,2845,284其他519335346409其它長期負債4,3394,3394,3394,3392,1324,782-6,207-5,426非流動負債合計9,6239,6239,6239,6238,737775-581-581負債總計20,27719,68920,21620,832500001,1121,1121,1121,112其他-11,867-1,505-1,437-1,37920,30025,85531,47737,200-3,080-2,280-2,018-1,9601,0361,8212,6633,558現(xiàn)金凈流量1,694956-2961,037負債和所有者杖益合計41,61247,36554,35661,590備注：表中計算估值指標的收盤價日期為03月22日請務必閱讀正文之后的信息被露和法律聲明
