> 数据图表如何了解2 . 4 . 4 极 兔 速 递 东 南 亚 市 场 核 心 数 据 预 测
2025-4-4
2 . 4 . 4 极 兔 速 递 东 南 亚 市 场 核 心 数 据 预 测单票揽派成本单票收入(元)单票总成本(元)三、总成本(亿元)二、总收入(亿元)一、包裹量(亿件)图表:极兔速递东南亚市场收入成本拆分表202121.6 151.6 7.02 108.8 5.04 2.93 1.40 0.57 0.13 42.75 1.98 28.2%27.25毛利率五、经调整EBITDA(亿元)四、总毛利(亿元)单票毛利(元)单票运输成本单票分拣成本单票其他成本yoyyoyyoyyoyyoyyoyyoyyoyyoyyoyyoyyoy202225.116.3%165.99.4%6.60-5.9%133.022.2%5.295.1%2.992.1%1.539.2%0.639.2%0.149.2%32.85-23.2%1.31 -33.9%19.8%23.09-15.2%202332.428.9%186.512.4%5.76-12.8%153.815.6%4.75-10.3%2.83-5.4%1.20-21.4%0.641.7%0.07-49.2%32.77-0.3%1.01 -22.6%17.6%26.6115.2%202445.640.8%232.924.9%5.10-11.3%187.021.6%4.10-13.7%2.59-8.7%1.08-10.4%0.36-43.6%0.071.5%45.9240.2%1.01 -0.5%19.7%32.7523.1%2025E57.025.0%253.38.7%4.44-13.0%196.04.8%3.44-16.1%2.07-20.0%0.97-10.0%0.32-10.0%0.070.0%57.2824.7%1.00 -0.2%22.6%2026E70.724.0%288.914.1%4.09-8.0%221.112.8%3.13-9.0%1.86-10.0%0.89-8.0%0.30-8.0%0.070.0%67.8718.5%0.96 -4.4%23.5%2027E87.023.0%337.616.9%3.88-5.0%257.616.5%2.96-5.3%1.77-5.0%0.84-6.0%0.28-6.0%0.070.0%80.0317.9%0.92 -4.1%23.7%注:本表中单票毛利由单票收入减单票总成本计算得到资料来源:Wind,公司公告,国海证券研究所请务必阅读报告附注中的风险提示和免责声明 38