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研報掘金丨長江證券:海瀾之家多曲線佈局促未來業績穩增,維持“買入”評級

長江證券研報指出,海瀾之家(600398.SH)Q3實現營收、歸母淨利潤、扣非歸母淨利潤38.89、2.71、2.40億元,同比變動-11%、-65%、-57%。收入業績均低於預期。公司多曲線佈局促未來業績穩增,仍為紅利中的優質標的。預計主品牌線下弱零售對未來業績拖累漸消化,多曲線成長性強兑現疊加增量業務有序佈局下,未來業績有望穩健增長。此外,公司自由現金流高、業績穩定性強、賬面資金盈餘高、未分配利潤倍數大,具備持續且較優的分紅能力,近年分紅比例有望維持90%左右。維持“買入”評級。

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