通期売上(百万円)
売上5y CAGR・予想:2.9 %
通期利益(百万円)
営利5y CAGR・予想:2.0 %
純利5y CAGR・予想:2.3 %
P/L
2017.32018.32019.32020.3
売上312,932323,495335,399350,000
前期比100.4%103.4%103.7%104.4%
売上原価226,338234,823243,017-
売上総利益86,59388,67292,381-
%27.7%27.4%27.5%-
販管費75,01978,61181,159-
営業利益11,57410,06011,22212,000
前期比104.3%86.9%111.6%106.9%
%3.7%3.1%3.3%3.4%
受取利息および受取配当金1,2671,3331,437-
持分法による投資利益326300290-
営業外収益2,2572,3272,448-
支払利息284266230-
持分法による投資損失----
営業外費用669525605-
経常利益13,16211,86213,06513,500
固定資産売却益11207--
投資有価証券売却益3832241-
特別利益48322952-
固定資産売却損----
投資有価証券売却損-10355-
減損損失-24423-
特別損失817606812-
税引前利益12,82811,48612,305-
法人税等3,5843,5413,720-
%27.9%30.8%30.2%-
当期純利益9,2437,9448,584-
非支配株主に帰属する当期純利益309293129-
親会社株主に帰属する当期純利益8,9347,6518,4559,000
前期比108.7%85.6%110.5%106.4%
%2.9%2.4%2.5%2.6%
 
EBITDA19,28919,28917,85119,428
EPS111.3円95.3円110.4円117.4円
BPS1,783.6円1,918.5円1,929.1円-
期初会社予想
2017.32018.32019.32020.3
売上高(期初予)320,000335,000350,000350,000
対実績比97.8%96.6%95.8%-
営業利益(期初予)11,10012,00012,00012,000
対実績比104.3%83.8%93.5%-
純利益(期初予)8,1009,0009,0009,000
対実績比110.3%85.0%93.9%-
配当
ROEデュポン分解
β
マルチプル
2017.32018.32019.32020.3
企業価値154,278155,391178,867-
時価総額131,967132,413145,536-
純有利子負債22,31122,97833,331-
PER(会予)15.5倍14.7倍16.2倍-
PBR0.9倍0.9倍1.0倍-
PER × PBR14.3倍12.6倍15.9倍-
EV/EBITDA(会予)8.0倍7.9倍9.0倍-
PSR(会予)0.4倍0.4倍0.4倍-
PCFR(会予)8.1倍7.9倍8.7倍-
配当金44.0円30.0円32.0円32.0円
配当利回り2.7%2.7%1.6%-
配当性向39.5%39.5%31.5%-
自己資本配当率1.7%1.6%1.7%-
ROE6.2%5.0%5.7%-
純利益率(再掲)2.9%2.4%2.5%-
総資産回転率1.2回1.2回1.2回-
財務レバレッジ1.8倍1.8倍1.9倍-
実質ROE6.1%4.9%5.4%-
ROIC4.4%3.3%3.6%-
ROA3.5%2.8%3.0%-
β0.530.530.48-
βの決定係数(R2)0.220.180.17-
自己資本比率(%)
利益剰余金(百万円)
有利子負債(百万円)
B/S
2017.32018.32019.32020.3
流動資産
現金16,58823,39232,958-
売上債権41,98247,68549,837-
棚卸資産29,10429,18531,106-
有価証券----
前払金----
繰延税金資産1,5371,465--
貸倒引当金-125-172-159-
流動資産92,275106,608118,330-
固定資産
建物・構築物83,59086,87392,072-
機械・運搬具108,341111,075116,691-
土地36,85837,37340,032-
建設仮勘定1,7142,4421,719-
有形固定資産90,38092,867101,233-
のれん----
無形固定資産1,2971,4241,376-
投資有価証券62,05566,85465,472-
繰延税金資産1,3711,3821,767-
貸倒引当金-345-624-620-
敷金および保証金----
投資その他の資産68,12172,42672,377-
固定資産159,799166,719174,988-
総資産252,074273,328293,392-
 
負債
有利子負債合計38,89943,82363,005-
仕入債務25,62326,03230,876-
前受金----
未払法人税等2,2312,4662,084-
繰延税金負債(固定)12,21813,77412,126-
負債104,628116,423138,405-
 
純資産
資本金12,24012,24012,240-
資本剰余金11,41211,41511,262-
利益剰余金98,361103,522103,682-
自己株式-2,668-2,635-3,536-
非支配株主持分4,1024,3854,552-
純資産147,446156,905154,986-
キャッシュフロー(百万円)
研究開発費(百万円)
C/S
2017.32018.32019.32020.3
営業CF
税金等調整前当期純利益12,82811,48612,305-
減価償却費7,7157,7917,428-
のれん償却額----
減損損失-24423-
受取利息及び受取配当金-1,267-1,333-1,437-
売上債権の増減額32-3,204-2,171-
棚卸資産の増減額3,944-3,764-1,829-
仕入債務の増減額-2,5514,5554,367-
営業CF17,39115,21717,063-
投資CF
有価証券の取得-1,105-1,302-568-
有価証券の売却・償還1,7761,079297-
固定資産の購入-11,502-10,164-13,984-
固定資産の売却22938816-
貸付け----
貸付金の回収----
投資CF-12,646-11,941-14,614-
財務CF
短期借入金の純増減額-1,2211,547-1,089-
長期借入れ2,6607,1562,908-
長期借入金の返済-8,931-3,069-5,175-
社債の発行----
社債の償還---5,000-
自己株式の取得-9270-7,028-
自己株式の売却0---
配当金の支払-2,407-2,493-2,371-
財務CF-11,1372,8247,135-
換算差額-1461-55-
その他
2017.32018.32019.32020.3
設備投資額9,1978,84614,707-
研究開発費2,9713,1873,346-
発行済株式総数80,271,626株80,298,680株76,597,913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
2017.32018.32019.32020.3
従業員数3,610人3,696人3,687人-
売上/従業員(千円)86,68586,68587,526-
営利/従業員(千円)3,2063,2062,722-
四半期売上(百万円)
売上5y CAGR・予想:2.9 %
四半期利益(百万円)
営利5y CAGR・予想:2.0 %
純利5y CAGR・予想:2.3 %
P/L
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
売上312,93280,274160,760245,108323,49583,387167,586254,992335,39985,544172,253263,141350,000
前期比100.4%25.7%51.4%78.3%103.4%25.8%51.8%78.8%103.7%25.5%51.4%78.5%104.4%
売上原価226,33858,703117,298178,583234,82360,450121,697184,936243,01761,977124,717189,736-
売上総利益86,59321,57143,46266,52488,67222,93645,88970,05692,38123,56747,53573,405-
%27.7%26.9%27.0%27.1%27.4%27.5%27.4%27.5%27.5%27.5%27.6%27.9%-
販管費75,01919,54338,96058,90178,61120,40940,54261,32781,15921,08042,22764,811-
営業利益11,5742,0274,5017,62210,0602,5275,3468,72911,2222,4865,3088,59312,000
前期比104.3%17.5%38.9%65.9%86.9%25.1%53.1%86.8%111.6%22.2%47.3%76.6%106.9%
%3.7%2.5%2.8%3.1%3.1%3.0%3.2%3.4%3.3%2.9%3.1%3.3%3.4%
受取利息および受取配当金1,2676707181,2731,3336777041,3701,4377067411,421-
持分法による投資利益326--236300--236290--207-
営業外収益2,2579441,2182,0262,3279271,2902,1802,4489091,1332,024-
支払利息284641301982665911817623053108157-
持分法による投資損失-------------
営業外費用669130235337525106258409605136384575-
経常利益13,1622,8415,4849,31111,8623,3486,37710,50013,0653,2596,05710,04213,500
固定資産売却益11--71207-13-1146173-
投資有価証券売却益383-2222220394041504504504-
特別利益483-22942290406252506651677-
固定資産売却損-------------
投資有価証券売却損-991001001031130554220633-
減損損失----244---23----
特別損失81717422424960627444533812118720630-
税引前利益12,8282,6675,2819,15611,4863,3215,97410,02812,3053,6475,98810,090-
法人税等3,5848091,5602,6713,5419901,8613,0213,7201,1351,8883,150-
%27.9%30.3%29.5%29.2%30.8%29.8%31.2%30.1%30.2%31.1%31.5%31.2%-
当期純利益9,2431,8583,7216,4847,9442,3314,1127,0078,5842,5124,1006,939-
非支配株主に帰属する当期純利益309801692402933581167129215094-
親会社株主に帰属する当期純利益8,9341,7773,5516,2437,6512,2954,0316,8398,4552,4914,0496,8449,000
前期比108.7%19.9%39.7%69.9%85.6%30.0%52.7%89.4%110.5%29.5%47.9%80.9%106.4%
%2.9%2.2%2.2%2.5%2.4%2.8%2.4%2.7%2.5%2.9%2.4%2.6%2.6%
 
EBITDA19,28919,28919,28919,28919,28917,85117,85117,85117,85118,65018,65018,65019,428
EPS111.3円95.3円95.3円95.3円95.3円95.3円107.5円109.1円110.4円110.4円110.3円110.3円117.4円
BPS1,783.6円1,827.3円1,827.3円1,859.4円1,918.5円1,896.8円1,918.3円1,966.7円1,929.1円1,960.2円1,978.7円1,978.7円-
期初会社予想
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
売上高(期初予)320,000335,000335,000335,000335,000350,000350,000350,000350,000350,000350,000350,000350,000
対実績比97.8%24.0%48.0%73.2%96.6%23.8%47.9%72.9%95.8%24.4%49.2%75.2%-
営業利益(期初予)11,10012,00012,00012,00012,00012,00012,00012,00012,00012,00012,00012,00012,000
対実績比104.3%16.9%37.5%63.5%83.8%21.1%44.6%72.7%93.5%20.7%44.2%71.6%-
純利益(期初予)8,1009,0009,0009,0009,0009,0009,0009,0009,0009,0009,0009,0009,000
対実績比110.3%19.7%39.5%69.4%85.0%25.5%44.8%76.0%93.9%27.7%45.0%76.0%-
配当
ROEデュポン分解
β
マルチプル
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
企業価値154,278167,482160,496163,342155,391175,866182,526170,607178,867160,295159,079159,156-
時価総額131,967144,618137,632138,756132,413154,655157,593142,278145,536131,901129,490129,567-
純有利子負債22,31122,86422,86424,58622,97821,21124,93328,32933,33128,39429,58929,589-
PER(会予)15.5倍16.1倍15.3倍15.4倍14.7倍17.2倍17.5倍15.8倍16.2倍14.7倍14.4倍14.4倍-
PBR0.9倍1.0倍0.9倍0.9倍0.9倍1.0倍1.0倍0.9倍1.0倍0.9倍0.9倍0.9倍-
PER × PBR14.3倍15.8倍14.3倍14.3倍12.6倍17.4倍18.3倍14.8倍15.9倍12.9倍12.3倍12.3倍-
EV/EBITDA(会予)8.0倍8.5倍8.1倍8.3倍7.9倍8.9倍9.2倍8.6倍9.0倍8.3倍8.2倍8.2倍-
PSR(会予)0.4倍0.4倍0.4倍0.4倍0.4倍0.4倍0.5倍0.4倍0.4倍0.4倍0.4倍0.4倍-
PCFR(会予)8.1倍8.7倍8.2倍8.3倍7.9倍9.2倍9.4倍8.5倍8.7倍8.0倍7.9倍7.9倍-
配当金44.0円---30.0円---32.0円---32.0円
配当利回り2.7%2.4%2.6%2.5%2.7%1.6%1.5%1.6%1.6%1.9%1.9%1.9%-
配当性向39.5%39.5%39.5%39.5%39.5%31.5%31.5%31.5%31.5%29.0%29.0%29.0%-
自己資本配当率1.7%1.6%1.6%1.6%1.6%1.6%1.7%1.6%1.7%1.6%1.6%1.6%-
ROE6.2%5.2%5.2%5.1%5.0%5.0%5.6%5.5%5.7%5.6%5.6%5.6%-
純利益率(再掲)2.9%2.2%2.2%2.5%2.4%2.8%2.4%2.7%2.5%2.9%2.4%2.6%-
総資産回転率1.2回1.2回1.2回1.2回1.2回1.2回1.2回1.2回1.2回1.1回1.2回1.2回-
財務レバレッジ1.8倍1.8倍1.8倍1.8倍1.8倍1.8倍1.9倍1.9倍1.9倍2.0倍1.9倍1.9倍-
実質ROE6.1%5.1%5.1%5.0%4.9%4.9%5.4%5.3%5.4%5.5%5.5%5.5%-
ROIC4.4%3.5%3.5%3.4%3.3%3.3%3.5%3.5%3.6%3.5%3.5%3.5%-
ROA3.5%3.0%3.0%2.9%2.8%2.8%3.0%2.9%3.0%2.9%2.9%2.9%-
β0.530.500.490.520.530.490.510.490.480.490.510.52-
βの決定係数(R2)0.220.170.170.170.180.150.160.170.170.190.210.22-
自己資本比率(%)
利益剰余金(百万円)
有利子負債(百万円)
B/S
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
流動資産
現金16,58819,29219,12620,84523,39238,39835,20429,67432,95831,58932,65527,056-
売上債権41,98239,34239,34244,42047,68545,30345,11646,58549,83747,41043,12643,126-
棚卸資産29,10431,01131,01131,54629,18532,95630,51032,26531,10634,77033,59233,592-
有価証券-------------
前払金-------------
繰延税金資産1,537---1,465--------
貸倒引当金-125-92-98-104-172-164-159-179-159-172-142-169-
流動資産92,27593,21899,439102,160106,608116,799117,957113,625118,330112,581112,099112,835-
固定資産
建物・構築物83,59034,35634,34433,97186,87333,37633,07932,83792,07237,82942,63442,227-
機械・運搬具108,34117,58417,73217,269111,07517,35617,33317,925116,69120,66620,61520,081-
土地36,85837,08537,39137,34237,37337,50037,62739,93040,03240,03939,95940,724-
建設仮勘定1,7141,2751,5371,6672,4422,6254,5026,9391,7191,887508740-
有形固定資産90,38092,24192,94892,11792,86792,68794,36399,377101,233102,217105,587105,594-
のれん-631666629-724682651-594570542-
無形固定資産1,2971,2351,2951,2221,4241,3651,3871,3541,3761,5031,4591,483-
投資有価証券62,05566,34067,32071,80866,85468,05170,78463,69665,47262,17862,90266,485-
繰延税金資産1,371---1,382---1,767----
貸倒引当金-345-336-345-338-624-631-635-646-620-617-608-607-
敷金および保証金-------------
投資その他の資産68,12172,38072,68977,15172,42674,84777,59870,42372,37768,01768,61472,085-
固定資産159,799165,857166,934170,490166,719168,900173,349171,155174,988171,738175,661179,163-
総資産252,074259,075266,373272,651273,328285,784291,386284,857293,392284,390287,828292,062-
 
負債
有利子負債合計38,89942,15642,15643,71243,82344,60363,33163,53363,00561,35262,24462,244-
仕入債務25,62327,19327,19328,18626,03230,20027,52629,45130,87634,56426,27926,279-
前受金-------------
未払法人税等2,2313041,6191,1762,4666251,7938562,0845521,750869-
繰延税金負債(固定)12,218---13,774---12,126----
負債104,628108,025112,638114,061116,423130,060134,140132,228138,405129,856131,325131,758-
 
純資産
資本金12,24012,24012,24012,24012,24012,24012,24012,24012,24012,24012,24012,240-
資本剰余金11,41211,41611,41511,41511,41511,41311,41311,43011,26211,26211,26211,262-
利益剰余金98,36198,852100,628102,113103,522104,611106,346107,990103,682104,285105,844107,409-
自己株式-2,668-2,635-2,635-2,635-2,635-5,734-7,951-9,629-3,536-3,422-3,422-3,422-
非支配株主持分4,1024,1704,2574,3464,3854,5644,5984,5964,5524,5524,5784,630-
純資産147,446151,050153,735158,589156,905155,724157,245152,629154,986154,534156,503160,304-
キャッシュフロー(百万円)
研究開発費(百万円)
C/S
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
営業CF
税金等調整前当期純利益12,8282,6675,2819,15611,4863,3215,97410,02812,3053,6475,98810,090-
減価償却費7,715-3,759-7,791-3,533-7,428-4,051--
のれん償却額--73----------
減損損失----244---23----
受取利息及び受取配当金-1,267--718--1,333--704--1,437--741--
売上債権の増減額32--2,384--3,204--1,345--2,171-4,269--
棚卸資産の増減額3,944--2,372--3,764-669--1,829-1,189--
仕入債務の増減額-2,551-2,525-4,555--765-4,367--8,250--
営業CF17,391-6,279-15,217-5,669-17,063-4,656--
投資CF
有価証券の取得-1,1050-5010-1,3020-3360-5680-3380-
有価証券の売却・償還1,776045101,0790190029709160-
固定資産の購入-11,5020-6,5460-10,1640-4,9700-13,9840-5,5260-
固定資産の売却22906038801101602360-
貸付け-------------
貸付金の回収-------------
投資CF-12,646--7,376--11,941--5,445--14,614--4,684--
財務CF
短期借入金の純増減額-1,221-793-1,547-247--1,089-1,194--
長期借入れ2,660-4,636-7,156-508-2,908-700--
長期借入金の返済-8,931--685--3,069--1,940--5,175--992--
社債の発行-------------
社債の償還-------5,000--5,000----
自己株式の取得-927-0-0--5,323--7,028-0--
自己株式の売却0------------
配当金の支払-2,407--1,286--2,493--1,206--2,371--1,304--
財務CF-11,137-3,276-2,824-11,731-7,135--533--
換算差額-14--22-61--68--55-20--
その他
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
設備投資額9,197---8,846---14,707----
研究開発費2,971---3,187---3,346----
発行済株式総数80,271,626株80,298,953株80,298,953株80,298,770株80,298,680株80,298,534株78,678,337株77,493,571株76,597,913株76,597,624株76,666,858株76,666,858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
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
従業員数3,610人---3,696人---3,687人----
売上/従業員(千円)86,68586,68586,68586,68586,68587,52687,52687,52687,52690,96890,96890,968-
営利/従業員(千円)3,2063,2063,2063,2063,2062,7222,7222,7222,7223,0443,0443,044-