通期売上(百万円)
売上5y CAGR・予想:-9.6 %
通期利益(百万円)
営利5y CAGR・予想:-29.9 %
純利5y CAGR・予想:-43.6 %
P/L
2018.32019.32020.32021.3E
売上1,221,9981,308,8931,104,094744,000
前期比109.8%107.1%84.4%67.4%
売上原価1,002,6831,076,747861,405-
売上総利益219,315232,146242,689-
%17.9%17.7%22.0%-
販管費166,294182,899191,312-
営業利益53,02149,24751,37713,000
前期比98.2%92.9%104.3%25.3%
%4.3%3.8%4.7%1.7%
受取利息および受取配当金1,8852,1142,003-
持分法による投資利益3,0261,7158,097-
営業外収益8,3776,57313,485-
支払利息1,3872,0152,706-
持分法による投資損失----
営業外費用3,5324,3846,038-
経常利益57,86551,43658,82415,000
固定資産売却益6286102-
投資有価証券売却益1324,7403-
特別利益6,6585,471105-
固定資産売却損82-35-
投資有価証券売却損--1,943-
減損損失5,727126389-
特別損失5,9852893,811-
税引前利益58,53856,61855,118-
法人税等19,90616,19216,253-
%31.3%34.0%29.5%-
当期純利益38,63240,42638,865-
非支配株主に帰属する当期純利益8,49711,26611,013-
親会社株主に帰属する当期純利益30,13529,16027,8533,500
前期比87.3%96.8%95.5%12.6%
%3.1%2.5%2.5%0.5%
 
EBITDA69,15072,19671,90873,531
EPS166.2円160.8円153.5円170.9円
BPS1,719.1円1,755.1円1,777.6円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)1,241,0001,310,0001,123,000744,000
対実績比98.5%99.9%98.3%-
営業利益(期初予)50,50054,50052,50013,000
対実績比105.0%90.4%97.9%-
純利益(期初予)33,00031,50030,0003,500
対実績比91.3%92.6%92.8%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価1,706円1,537円1,385円-
企業価値450,930504,881426,991-
時価総額309,272278,770251,274-
純有利子負債141,658226,111175,717-
PER(会予)10.3倍9.3倍8.1倍-
PBR1.0倍0.9倍0.8倍-
PER × PBR10.6倍8.5倍6.3倍-
EV/EBITDA(会予)7.0倍7.1倍5.8倍-
PSR(会予)0.3倍0.2倍0.2倍-
PCFR(会予)6.8倍5.7倍4.9倍-
配当金40.0円40.0円40.0円40.0円
配当利回り2.1%2.6%2.9%-
配当性向24.1%24.9%26.1%-
自己資本配当率2.3%2.3%2.3%-
ROE9.7%9.2%8.6%-
純利益率(再掲)2.5%2.2%2.5%-
総資産回転率1.4回1.3回1.1回-
財務レバレッジ3.0倍3.2倍3.1倍-
実質ROE9.6%9.1%8.6%-
ROIC6.5%5.8%5.9%-
ROA3.4%3.0%2.8%-
β1.221.271.26-
βの決定係数(R2)0.520.580.64-
財務レバレッジ(百万円)
利益剰余金(百万円)
設備投資(百万円)
B/S
2018.32019.32020.32021.3E
流動資産
現金105,86582,42192,774-
売上債権131,625135,498123,030-
棚卸資産212,684287,282280,530-
有価証券5,0105,3043,658-
前払金----
繰延税金資産6,531---
貸倒引当金-343-355-545-
流動資産565,570609,820636,059-
固定資産
建物・構築物78,30787,084100,932-
機械・運搬具77,58876,35776,946-
土地34,21639,51339,603-
建設仮勘定2,70011,7709,399-
有形固定資産153,113170,000179,446-
のれん15,76212,6517,588-
無形固定資産29,07126,55122,474-
投資有価証券131,470140,968137,845-
繰延税金資産5,2484,945--
貸倒引当金-2,440-1,039-860-
敷金および保証金----
投資その他の資産151,366164,605166,789-
固定資産333,550361,156368,709-
総資産899,120970,9761,004,768-
 
負債
有利子負債合計213,460285,143268,491-
仕入債務121,443119,660109,179-
前受金----
未払法人税等4,8304,9024,862-
繰延税金負債(固定)13,90411,474--
負債553,481617,486647,704-
 
純資産
資本金32,67232,75232,786-
資本剰余金23,63722,24721,290-
利益剰余金219,562241,427255,545-
自己株式-2,333-2,337-2,339-
非支配株主持分33,87335,03434,448-
純資産345,639353,489357,064-
キャッシュフロー(百万円)
C/S
2018.32019.32020.32021.3E
営業CF
税金等調整前当期純利益58,53856,61855,118-
減価償却費13,72713,69614,388-
のれん償却額5,4486,4186,143-
減損損失5,727126389-
受取利息及び受取配当金-1,885-2,114-2,003-
売上債権の増減額-12,017-8,694-1,152-
棚卸資産の増減額-38,473-21,173-7,415-
仕入債務の増減額7526,118-10,506-
営業CF13,73240,68945,724-
投資CF
有価証券の取得-42,710-13,556-15,810-
有価証券の売却・償還3,5078,911311-
固定資産の購入-17,010-23,043-25,154-
固定資産の売却3,2751,5842,816-
貸付け-148-1,342-1,771-
貸付金の回収1,0701,741262-
投資CF-46,250-71,659-38,874-
財務CF
短期借入金の純増減額3,9738,817-17,153-
長期借入れ13,56025,78939,782-
長期借入金の返済-20,665-10,648-22,682-
社債の発行30,00020,00020,000-
社債の償還----
自己株式の取得----
自己株式の売却----
配当金の支払-7,085-7,295-7,297-
財務CF25,15611,5231,142-
換算差額-307-1,007-528-
その他
2018.32019.32020.32021.3E
設備投資額20,55221,21437,903-
研究開発費1,9772,1122,271-
発行済株式総数181,284,002株181,372,832株181,425,138株-
従業員数(人)
従業員ひとりあたり営業利益(百万円)
従業員
2018.32019.32020.32021.3E
従業員数18,195人19,159人19,332人-
売上/従業員(千円)62,54267,16157,112-
営利/従業員(千円)3,0332,9142,658-
四半期売上(百万円)
売上5y CAGR・予想:-9.6 %
四半期利益(百万円)
営利5y CAGR・予想:-29.9 %
純利5y CAGR・予想:-43.6 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上228,661562,109856,5261,221,998249,274592,851906,9811,308,893235,009529,748802,7411,104,094744,000
前期比110.1%109.5%111.0%109.8%109.0%105.5%105.9%107.1%94.3%89.4%88.5%84.4%67.4%
売上原価193,889464,050708,9951,002,683210,943489,764751,7011,076,747185,468413,791627,342861,405-
売上総利益34,77298,059147,531219,31538,331103,086155,280232,14649,542115,957175,399242,689-
%15.2%17.4%17.2%17.9%15.4%17.4%17.1%17.7%21.1%21.9%21.9%22.0%-
販管費40,58782,551123,966166,29442,20185,782130,629182,89945,03090,965137,136191,312-
営業利益-5,81515,50823,56553,021-3,87117,30524,65149,2474,51224,99238,26351,37713,000
前期比110.6%96.4%103.6%98.2%66.6%111.6%104.6%92.9%-116.6%144.4%155.2%104.3%25.3%
%-2.8%2.8%4.3%-2.9%2.7%3.8%1.9%4.7%4.8%4.7%1.7%
受取利息および受取配当金8451,0591,7151,8859741,1851,9322,1147449821,7452,003-
持分法による投資利益1,0881,7312,2513,0264397101,2021,7152458645,0538,097-
営業外収益2,4044,3546,3888,3771,9173,0875,0056,5731,5663,1948,84013,485-
支払利息5107651,0981,3873717871,4632,0156981,4762,0762,706-
持分法による投資損失-------------
営業外費用9071,5652,3673,5327541,6622,6724,3841,0982,4974,0346,038-
経常利益-4,31818,29727,58657,865-2,70818,72926,98451,4364,97925,68943,07058,82415,000
固定資産売却益1729396223447186183245102-
投資有価証券売却益8787118132-1,3844,2994,740---3-
特別利益6,5686,5806,6226,658232,0575,0165,471183245105-
固定資産売却損102042820---13535-
投資有価証券売却損-----------1,943-
減損損失-5,7395,7155,727-126126126---389-
特別損失425,8155,8495,985212032282891,6711,7361,9683,811-
税引前利益2,20819,06228,35958,538-2,70620,58331,77256,6183,32623,98541,14755,118-
法人税等-1,0976,3919,41919,906-1,0315,1238,16416,1921,0506,82811,15216,253-
%31.3%31.3%31.3%31.3%34.0%34.0%34.0%34.0%28.6%28.6%28.6%29.5%-
当期純利益3,30612,67118,94038,632-1,67415,46023,60940,4262,27717,15729,99538,865-
非支配株主に帰属する当期純利益9492,6494,8348,4971,8444,8257,51111,2661,7114,5667,38111,013-
親会社株主に帰属する当期純利益2,35710,02214,10630,135-3,51810,63516,09729,16056512,59122,61427,8533,500
前期比-61.8%97.2%91.1%87.3%-149.3%106.1%114.1%96.8%-16.1%118.4%140.5%95.5%12.6%
%3.1%3.1%3.1%3.1%2.5%2.5%2.5%2.5%2.2%2.2%2.2%2.5%0.5%
 
EBITDA69,15069,15069,15069,15072,19672,19672,19672,19669,36169,36169,36171,90873,531
EPS170.1円170.1円166.2円166.2円160.9円160.8円160.8円160.8円153.6円153.5円153.5円153.5円170.9円
BPS1,543.4円1,611.4円1,653.4円1,719.1円1,635.7円1,729.4円1,690.2円1,755.1円1,693.6円1,732.1円1,766.8円1,777.6円-
期初会社予想
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上高(期初予)1,241,0001,241,0001,241,0001,241,0001,310,0001,310,0001,310,0001,310,0001,123,0001,123,0001,123,0001,123,000744,000
対実績比18.4%45.3%69.0%98.5%19.0%45.3%69.2%99.9%20.9%47.2%71.5%98.3%-
営業利益(期初予)50,50050,50050,50050,50054,50054,50054,50054,50052,50052,50052,50052,50013,000
対実績比-11.5%30.7%46.7%105.0%-7.1%31.8%45.2%90.4%8.6%47.6%72.9%97.9%-
純利益(期初予)33,00033,00033,00033,00031,50031,50031,50031,50030,00030,00030,00030,0003,500
対実績比7.1%30.4%42.7%91.3%-11.2%33.8%51.1%92.6%1.9%42.0%75.4%92.8%-
配当
ROEデュポン分解
β
マルチプル
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
株価1,766円1,760円2,016円1,706円1,677円1,975円1,440円1,537円1,291円1,436円1,615円1,385円-
企業価値425,228424,165437,754450,930398,778510,513442,431504,881400,616461,499493,972426,991-
時価総額312,808311,745357,089309,272304,013358,035261,175278,770234,152260,512292,985251,274-
純有利子負債112,420112,42080,665141,65894,765152,478181,256226,111166,464200,987200,987175,717-
PER(会予)9.5倍9.4倍11.9倍10.3倍9.7倍11.4倍8.3倍9.3倍7.8倍8.7倍9.8倍8.1倍-
PBR1.1倍1.1倍1.3倍1.0倍1.0倍1.2倍0.8倍0.9倍0.7倍0.8倍0.9倍0.8倍-
PER × PBR10.8倍10.8倍14.9倍10.6倍9.4倍13.7倍6.9倍8.5倍5.7倍7.2倍9.1倍6.3倍-
EV/EBITDA(会予)6.5倍6.5倍6.8倍7.0倍5.4倍6.9倍6.0倍7.1倍5.5倍6.4倍6.9倍5.8倍-
PSR(会予)0.3倍0.3倍0.3倍0.3倍0.2倍0.3倍0.2倍0.2倍0.2倍0.2倍0.3倍0.2倍-
PCFR(会予)6.5倍6.5倍7.9倍6.8倍6.0倍7.1倍5.2倍5.7倍4.7倍5.2倍5.8倍4.9倍-
配当金---40.0円---40.0円---40.0円40.0円
配当利回り2.0%2.0%1.7%2.1%2.4%2.0%2.8%2.6%3.1%2.8%2.5%2.9%-
配当性向---24.1%---24.9%---26.1%-
自己資本配当率2.6%2.5%2.4%2.3%2.4%2.3%2.4%2.3%2.4%2.3%2.3%2.3%-
ROE11.0%10.6%10.1%9.7%9.8%9.3%9.5%9.2%9.1%8.9%8.7%8.6%-
純利益率(再掲)1.0%1.8%1.6%2.5%-1.8%1.8%2.2%0.2%2.4%2.8%2.5%-
総資産回転率1.5回1.4回1.4回1.4回1.4回1.4回1.3回1.3回1.1回1.2回1.1回1.1回-
財務レバレッジ2.9倍2.9倍3.0倍3.0倍2.9倍3.1倍3.0倍3.2倍3.1倍3.1倍3.1倍3.1倍-
実質ROE11.0%10.5%10.0%9.6%9.8%9.2%9.4%9.1%9.0%8.8%8.6%8.6%-
ROIC7.4%7.1%6.5%6.5%6.1%6.1%5.6%5.8%6.0%6.2%6.0%5.9%-
ROA3.8%3.6%3.4%3.4%3.2%3.1%3.0%3.0%2.9%2.9%2.8%2.8%-
β1.221.211.211.221.291.271.321.271.311.331.351.26-
βの決定係数(R2)0.520.520.500.520.520.550.620.580.610.620.640.64-
財務レバレッジ(百万円)
利益剰余金(百万円)
設備投資(百万円)
B/S
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
流動資産
現金63,04297,19071,802105,86596,20446,08859,03282,42152,82753,43356,08392,774-
売上債権119,237119,237126,907131,625127,387127,738126,753135,498135,636126,549126,549123,030-
棚卸資産183,346183,346196,223212,684220,681230,767268,639287,282267,278274,481274,481280,530-
有価証券6,5005,0005,0105,0103063075,2985,3045,0155,5495,5493,658-
前払金-------------
繰延税金資産8,9627,1235,9246,531---------
貸倒引当金-388-286-382-343-358-413-339-355-328-300-355-545-
流動資産500,494548,692553,841565,570574,577561,203625,171609,820610,079596,835620,537636,059-
固定資産
建物・構築物77,09976,95578,27278,30777,33488,79292,58387,08488,20188,38888,988100,932-
機械・運搬具74,57272,56072,64577,58875,52875,53776,28976,35776,57975,11373,93776,946-
土地34,12134,10334,19734,21634,03539,40640,00439,51339,70039,71840,42439,603-
建設仮勘定5,5696,0306,0372,7002,95910,05511,19311,77013,08014,86314,8289,399-
有形固定資産154,008150,842151,890153,113149,949172,347176,451170,000169,847171,745171,674179,446-
のれん24,30821,06817,26815,76215,75420,13518,00912,65110,9599,1958,9487,588-
無形固定資産35,10533,40930,17829,07128,47633,19931,00026,55124,64123,03722,95722,474-
投資有価証券88,25893,187137,274131,470131,840143,669131,673140,968139,739144,503148,528137,845-
繰延税金資産3,8943,0993,1735,2485,7095,6245,0254,945-----
貸倒引当金-2,345-2,413-2,444-2,440-1,037-1,029-1,034-1,039-1,018-977-909-860-
敷金および保証金-------------
投資その他の資産106,233110,441154,529151,366151,993164,179152,427164,605161,636167,322171,811166,789-
固定資産295,346294,692336,597333,550330,418369,725359,878361,156356,124362,104366,442368,709-
総資産795,840843,384890,438899,120904,995930,928985,049970,976966,202958,939986,9791,004,768-
 
負債
有利子負債合計175,462175,462177,855213,460200,630248,682227,344285,143248,885254,420254,420268,491-
仕入債務108,193108,193117,510121,443111,587108,035109,152119,660118,547111,381111,381109,179-
前受金-------------
未払法人税等2,4423,7001,7174,8301,5662,7711,7044,9021,4514,1451,5614,862-
繰延税金負債(固定)12,62314,30017,18213,90411,80614,85610,27211,474-----
負債496,071529,645559,127553,481575,934579,632638,427617,486626,196611,396631,559647,704-
 
純資産
資本金27,67227,67232,67232,67232,67232,75032,75132,75232,75232,77932,77932,786-
資本剰余金18,63718,63723,63723,63723,63723,71523,71622,24722,24822,27322,27321,290-
利益剰余金195,695203,274203,533219,562212,397226,550227,843241,427231,907243,933250,306255,545-
自己株式-281-281-2,332-2,333-2,334-2,335-2,336-2,337-2,338-2,338-2,339-2,339-
非支配株主持分26,30528,21831,46333,87332,40337,49239,92735,03432,70333,17334,76234,448-
純資産299,769313,738331,310345,639329,061351,296346,622353,489340,006347,543355,420357,064-
キャッシュフロー(百万円)
C/S
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
営業CF
税金等調整前当期純利益2,20819,06228,35958,538-2,70620,58331,77256,6183,32623,98541,14755,118-
減価償却費-7,114-13,727-6,378-13,696-6,758-14,388-
のれん償却額-2,424-5,448-2,982-6,418-3,227-6,143-
減損損失-5,7395,7155,727-126126126---389-
受取利息及び受取配当金--1,059--1,885--1,185--2,114--983--2,003-
売上債権の増減額--8,604--12,017-1,045--8,694--6,966--1,152-
棚卸資産の増減額--30,021--38,473--29,512--21,173--14,364--7,415-
仕入債務の増減額--3,446-752--9,125-6,118--7,579--10,506-
営業CF--10,071-13,732--12,683-40,689--8,132-45,724-
投資CF
有価証券の取得0-2,2730-42,7100-2,0850-13,5560-6,6050-15,810-
有価証券の売却・償還018303,50702,99908,91103000311-
固定資産の購入0-7,3190-17,0100-10,0800-23,0430-12,6550-25,154-
固定資産の売却01,39403,275082101,58402,10902,816-
貸付け--53--148--28--1,342--25--1,771-
貸付金の回収-500-1,070-1,730-1,741-219-262-
投資CF--1,065--46,250--53,257--71,659--17,246--38,874-
財務CF
短期借入金の純増減額-10,137-3,973-561-8,817--8,720--17,153-
長期借入れ-894-13,560-24,043-25,789-30,138-39,782-
長期借入金の返済--5,382--20,665--2,470--10,648--14,395--22,682-
社債の発行---30,000---20,000---20,000-
社債の償還-------------
自己株式の取得-------------
自己株式の売却-------------
配当金の支払--3,543--7,085--3,646--7,295--3,648--7,297-
財務CF--20-25,156-4,043-11,523--2,730-1,142-
換算差額--346--307--1,224--1,007--740--528-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額---20,552---21,214---37,903-
研究開発費---1,977---2,112---2,271-
発行済株式総数177,127,801株177,127,449株181,284,914株181,284,002株181,283,776株181,371,511株181,372,801株181,372,832株181,373,481株181,414,857株181,414,601株181,425,138株-
従業員数(人)
従業員ひとりあたり営業利益(百万円)
従業員
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
従業員数---18,195人---19,159人---19,332人-
売上/従業員(千円)62,54262,54262,54262,54267,16167,16167,16167,16168,31768,31768,31757,112-
営利/従業員(千円)3,0333,0333,0333,0332,9142,9142,9142,9142,5702,5702,5702,658-
四半期売上(百万円)
売上5y CAGR・予想:-9.6 %
四半期利益(百万円)
営利5y CAGR・予想:-29.9 %
純利5y CAGR・予想:-43.6 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上228,661333,448294,417365,472249,274343,577314,130401,912235,009294,739272,993301,353744,000
前期比110.1%109.0%114.0%107.0%109.0%103.0%106.7%110.0%94.3%85.8%86.9%75.0%67.4%
売上原価193,889270,161244,945293,688210,943278,821261,937325,046185,468228,323213,551234,063-
売上総利益34,77263,28749,47271,78438,33164,75552,19476,86649,54266,41559,44267,290-
%15.2%19.0%16.8%19.6%15.4%18.8%16.6%19.1%21.1%22.5%21.8%22.3%-
販管費40,58741,96441,41542,32842,20143,58144,84752,27045,03045,93546,17154,176-
営業利益-5,81521,3238,05729,456-3,87121,1767,34624,5964,51220,48013,27113,11413,000
前期比110.6%99.9%121.0%94.3%66.6%99.3%91.2%83.5%-116.6%96.7%180.7%53.3%25.3%
%-2.5%6.4%2.7%8.1%-1.6%6.2%2.3%6.1%1.9%6.9%4.9%4.4%1.7%
受取利息および受取配当金845000974000744000-
持分法による投資利益1,0886435207754392714925132456194,1893,044-
営業外収益2,4041,9502,0341,9891,9171,1701,9181,5681,5661,6285,6464,645-
支払利息510255333289371416676552698778600630-
持分法による投資損失-000-000-000-
営業外費用9076588021,1657549081,0101,7121,0981,3991,5372,004-
経常利益-4,31822,6159,28930,279-2,70821,4378,25524,4524,97920,71017,38115,75415,000
固定資産売却益171210232321271518141357-
投資有価証券売却益8703114-1,3842,915441-003-
特別利益6,568124236232,0342,95945518141360-
固定資産売却損10102240000012230-
投資有価証券売却損-000-000-001,943-
減損損失-5,739-2412-12600-00389-
特別損失425,773341362118225611,671652321,843-
税引前利益2,20816,8549,29730,179-2,70623,28911,18924,8463,32620,65917,16213,971-
法人税等-1,0977,4883,02810,487-1,0316,1543,0418,0281,0505,7784,3245,101-
%-49.7%44.4%32.6%34.7%38.1%26.4%27.2%32.3%31.6%28.0%25.2%36.5%-
当期純利益3,3069,3656,26919,692-1,67417,1348,14916,8172,27714,88012,8388,870-
非支配株主に帰属する当期純利益9491,7002,1853,6631,8442,9812,6863,7551,7112,8552,8153,632-
親会社株主に帰属する当期純利益2,3577,6654,08416,029-3,51814,1535,46213,06356512,02610,0235,2393,500
前期比-61.8%54.3%78.9%84.1%-149.3%184.6%133.7%81.5%-16.1%85.0%183.5%40.1%12.6%
%1.0%2.3%1.4%4.4%-1.4%4.1%1.7%3.3%0.2%4.1%3.7%1.7%0.5%
 
EBITDA69,15069,15069,15069,15072,19672,19672,19672,19669,36169,36169,36171,90873,531
EPS170.1円170.1円166.2円166.2円160.9円160.8円160.8円160.8円153.6円153.5円153.5円153.5円170.9円
BPS1,543.4円1,611.4円1,653.4円1,719.1円1,635.7円1,729.4円1,690.2円1,755.1円1,693.6円1,732.1円1,766.8円1,777.6円-
期初会社予想
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上高(期初予)1,241,0001,241,0001,241,0001,241,0001,310,0001,310,0001,310,0001,310,0001,123,0001,123,0001,123,0001,123,000744,000
対実績比18.4%45.3%69.0%98.5%19.0%45.3%69.2%99.9%20.9%47.2%71.5%98.3%-
営業利益(期初予)50,50050,50050,50050,50054,50054,50054,50054,50052,50052,50052,50052,50013,000
対実績比-11.5%30.7%46.7%105.0%-7.1%31.8%45.2%90.4%8.6%47.6%72.9%97.9%-
純利益(期初予)33,00033,00033,00033,00031,50031,50031,50031,50030,00030,00030,00030,0003,500
対実績比7.1%30.4%42.7%91.3%-11.2%33.8%51.1%92.6%1.9%42.0%75.4%92.8%-
配当
ROEデュポン分解
β
マルチプル
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
株価1,766円1,760円2,016円1,706円1,677円1,975円1,440円1,537円1,291円1,436円1,615円1,385円-
企業価値425,228424,165437,754450,930398,778510,513442,431504,881400,616461,499493,972426,991-
時価総額312,808311,745357,089309,272304,013358,035261,175278,770234,152260,512292,985251,274-
純有利子負債112,420112,42080,665141,65894,765152,478181,256226,111166,464200,987200,987175,717-
PER(会予)9.5倍9.4倍11.9倍10.3倍9.7倍11.4倍8.3倍9.3倍7.8倍8.7倍9.8倍8.1倍-
PBR1.1倍1.1倍1.3倍1.0倍1.0倍1.2倍0.8倍0.9倍0.7倍0.8倍0.9倍0.8倍-
PER × PBR10.8倍10.8倍14.9倍10.6倍9.4倍13.7倍6.9倍8.5倍5.7倍7.2倍9.1倍6.3倍-
EV/EBITDA(会予)6.5倍6.5倍6.8倍7.0倍5.4倍6.9倍6.0倍7.1倍5.5倍6.4倍6.9倍5.8倍-
PSR(会予)0.3倍0.3倍0.3倍0.3倍0.2倍0.3倍0.2倍0.2倍0.2倍0.2倍0.3倍0.2倍-
PCFR(会予)6.5倍6.5倍7.9倍6.8倍6.0倍7.1倍5.2倍5.7倍4.7倍5.2倍5.8倍4.9倍-
配当金---40.0円---40.0円---40.0円40.0円
配当利回り2.0%2.0%1.7%2.1%2.4%2.0%2.8%2.6%3.1%2.8%2.5%2.9%-
配当性向---24.1%---24.9%---26.1%-
自己資本配当率2.6%2.5%2.4%2.3%2.4%2.3%2.4%2.3%2.4%2.3%2.3%2.3%-
ROE11.0%10.6%10.1%9.7%9.8%9.3%9.5%9.2%9.1%8.9%8.7%8.6%-
純利益率(再掲)1.0%1.8%1.6%2.5%-1.8%1.8%2.2%0.2%2.4%2.8%2.5%-
総資産回転率1.5回1.4回1.4回1.4回1.4回1.4回1.3回1.3回1.1回1.2回1.1回1.1回-
財務レバレッジ2.9倍2.9倍3.0倍3.0倍2.9倍3.1倍3.0倍3.2倍3.1倍3.1倍3.1倍3.1倍-
実質ROE11.0%10.5%10.0%9.6%9.8%9.2%9.4%9.1%9.0%8.8%8.6%8.6%-
ROIC7.4%7.1%6.5%6.5%6.1%6.1%5.6%5.8%6.0%6.2%6.0%5.9%-
ROA3.8%3.6%3.4%3.4%3.2%3.1%3.0%3.0%2.9%2.9%2.8%2.8%-
β1.221.211.211.221.291.271.321.271.311.331.351.26-
βの決定係数(R2)0.520.520.500.520.520.550.620.580.610.620.640.64-
財務レバレッジ(百万円)
利益剰余金(百万円)
設備投資(百万円)
B/S
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
流動資産
現金63,04297,19071,802105,86596,20446,08859,03282,42152,82753,43356,08392,774-
売上債権119,237119,237126,907131,625127,387127,738126,753135,498135,636126,549126,549123,030-
棚卸資産183,346183,346196,223212,684220,681230,767268,639287,282267,278274,481274,481280,530-
有価証券6,5005,0005,0105,0103063075,2985,3045,0155,5495,5493,658-
前払金-------------
繰延税金資産8,9627,1235,9246,531---------
貸倒引当金-388-286-382-343-358-413-339-355-328-300-355-545-
流動資産500,494548,692553,841565,570574,577561,203625,171609,820610,079596,835620,537636,059-
固定資産
建物・構築物77,09976,95578,27278,30777,33488,79292,58387,08488,20188,38888,988100,932-
機械・運搬具74,57272,56072,64577,58875,52875,53776,28976,35776,57975,11373,93776,946-
土地34,12134,10334,19734,21634,03539,40640,00439,51339,70039,71840,42439,603-
建設仮勘定5,5696,0306,0372,7002,95910,05511,19311,77013,08014,86314,8289,399-
有形固定資産154,008150,842151,890153,113149,949172,347176,451170,000169,847171,745171,674179,446-
のれん24,30821,06817,26815,76215,75420,13518,00912,65110,9599,1958,9487,588-
無形固定資産35,10533,40930,17829,07128,47633,19931,00026,55124,64123,03722,95722,474-
投資有価証券88,25893,187137,274131,470131,840143,669131,673140,968139,739144,503148,528137,845-
繰延税金資産3,8943,0993,1735,2485,7095,6245,0254,945-----
貸倒引当金-2,345-2,413-2,444-2,440-1,037-1,029-1,034-1,039-1,018-977-909-860-
敷金および保証金-------------
投資その他の資産106,233110,441154,529151,366151,993164,179152,427164,605161,636167,322171,811166,789-
固定資産295,346294,692336,597333,550330,418369,725359,878361,156356,124362,104366,442368,709-
総資産795,840843,384890,438899,120904,995930,928985,049970,976966,202958,939986,9791,004,768-
 
負債
有利子負債合計175,462175,462177,855213,460200,630248,682227,344285,143248,885254,420254,420268,491-
仕入債務108,193108,193117,510121,443111,587108,035109,152119,660118,547111,381111,381109,179-
前受金-------------
未払法人税等2,4423,7001,7174,8301,5662,7711,7044,9021,4514,1451,5614,862-
繰延税金負債(固定)12,62314,30017,18213,90411,80614,85610,27211,474-----
負債496,071529,645559,127553,481575,934579,632638,427617,486626,196611,396631,559647,704-
 
純資産
資本金27,67227,67232,67232,67232,67232,75032,75132,75232,75232,77932,77932,786-
資本剰余金18,63718,63723,63723,63723,63723,71523,71622,24722,24822,27322,27321,290-
利益剰余金195,695203,274203,533219,562212,397226,550227,843241,427231,907243,933250,306255,545-
自己株式-281-281-2,332-2,333-2,334-2,335-2,336-2,337-2,338-2,338-2,339-2,339-
非支配株主持分26,30528,21831,46333,87332,40337,49239,92735,03432,70333,17334,76234,448-
純資産299,769313,738331,310345,639329,061351,296346,622353,489340,006347,543355,420357,064-
キャッシュフロー(百万円)
C/S
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
営業CF
税金等調整前当期純利益2,20819,06228,35958,538-2,70620,58331,77256,6183,32623,98541,14755,118-
減価償却費-7,114-13,727-6,378-13,696-6,758-14,388-
のれん償却額-2,424-5,448-2,982-6,418-3,227-6,143-
減損損失-5,739-2412-12600-00389-
受取利息及び受取配当金--1,059--1,885--1,185--2,114--983--2,003-
売上債権の増減額--8,604--12,017-1,045--8,694--6,966--1,152-
棚卸資産の増減額--30,021--38,473--29,512--21,173--14,364--7,415-
仕入債務の増減額--3,446-752--9,125-6,118--7,579--10,506-
営業CF--10,071-13,732--12,683-40,689--8,132-45,724-
投資CF
有価証券の取得0-2,2730-42,7100-2,0850-13,5560-6,6050-15,810-
有価証券の売却・償還018303,50702,99908,91103000311-
固定資産の購入0-7,3190-17,0100-10,0800-23,0430-12,6550-25,154-
固定資産の売却01,39403,275082101,58402,10902,816-
貸付け--53--148--28--1,342--25--1,771-
貸付金の回収-500-1,070-1,730-1,741-219-262-
投資CF--1,065--46,250--53,257--71,659--17,246--38,874-
財務CF
短期借入金の純増減額-10,137-3,973-561-8,817--8,720--17,153-
長期借入れ-894-13,560-24,043-25,789-30,138-39,782-
長期借入金の返済--5,382--20,665--2,470--10,648--14,395--22,682-
社債の発行---30,000---20,000---20,000-
社債の償還-------------
自己株式の取得-------------
自己株式の売却-------------
配当金の支払--3,543--7,085--3,646--7,295--3,648--7,297-
財務CF--20-25,156-4,043-11,523--2,730-1,142-
換算差額--346--307--1,224--1,007--740--528-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額---20,552---21,214---37,903-
研究開発費---1,977---2,112---2,271-
発行済株式総数177,127,801株177,127,449株181,284,914株181,284,002株181,283,776株181,371,511株181,372,801株181,372,832株181,373,481株181,414,857株181,414,601株181,425,138株-
従業員数(人)
従業員ひとりあたり営業利益(百万円)
従業員
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
従業員数---18,195人---19,159人---19,332人-
売上/従業員(千円)62,54262,54262,54262,54267,16167,16167,16167,16168,31768,31768,31757,112-
営利/従業員(千円)3,0333,0333,0333,0332,9142,9142,9142,9142,5702,5702,5702,658-