通期売上(百万円)
売上5y CAGR・予想:2.7 %
通期利益(百万円)
営利5y CAGR・予想:-2.1 %
純利5y CAGR・予想:-24.7 %
P/L
2018.32019.32020.32021.3E
売上105,291105,274113,854115,000
前期比102.0%100.0%108.2%101.0%
売上原価79,57481,28987,842-
売上総利益25,71723,98526,011-
%24.4%22.8%22.8%-
販管費19,36220,24221,162-
営業利益6,3543,7424,8484,800
前期比121.8%58.9%129.6%99.0%
%6.0%3.6%4.3%4.2%
受取利息および受取配当金11367--
持分法による投資利益----
営業外収益8,4277,7751,723-
支払利息737486-
持分法による投資損失701574--
営業外費用1,1721,2041,589-
経常利益13,60910,3144,9824,800
固定資産売却益----
投資有価証券売却益7373--
特別利益121443867-
固定資産売却損----
投資有価証券売却損275---
減損損失----
特別損失3012881,171-
税引前利益13,42910,4684,678-
法人税等4,5123,1402,077-
%34.8%33.6%44.4%-
当期純利益8,9177,3282,600-
非支配株主に帰属する当期純利益603465--
親会社株主に帰属する当期純利益8,3136,8622,4222,400
前期比111.1%82.5%35.3%99.1%
%7.3%7.9%2.1%2.1%
 
EBITDA10,06411,30810,78511,037
EPS293.4円242.2円85.5円91.8円
BPS2,906.1円3,016.8円2,919.8円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)108,000105,000113,000115,000
対実績比97.5%100.3%100.8%-
営業利益(期初予)5,2004,7005,1004,800
対実績比122.2%79.6%95.1%-
純利益(期初予)8,0007,6002,6002,400
対実績比103.9%90.3%93.2%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価4,110円2,726円2,077円-
企業価値109,81680,81463,234-
時価総額116,45177,23758,849-
純有利子負債-6,6353,5774,385-
PER(会予)13.2倍-22.6倍-
PBR1.4倍0.9倍0.7倍-
PER × PBR19.0倍-16.1倍-
EV/EBITDA(会予)10.1倍9.3倍5.7倍-
PSR(会予)1.1倍0.7倍0.5倍-
PCFR(会予)8.5倍-6.9倍-
配当金110.0円110.0円50.0円50.0円
配当利回り2.4%4.0%2.4%-
配当性向37.5%45.4%58.5%-
自己資本配当率3.8%3.6%1.7%-
ROE10.1%8.0%2.9%-
純利益率(再掲)7.9%6.5%2.1%-
総資産回転率0.8回0.8回0.8回-
財務レバレッジ1.6倍1.6倍1.7倍-
実質ROE9.8%7.8%--
ROIC1.9%0.6%2.7%-
ROA6.3%4.9%1.7%-
β0.570.630.60-
βの決定係数(R2)0.190.210.23-
自己資本比率(%)
利益剰余金(百万円)
有利子負債(百万円)
B/S
2018.32019.32020.32021.3E
流動資産
現金25,06915,23215,520-
売上債権9,66610,8249,280-
棚卸資産23,60725,31528,923-
有価証券----
前払金----
繰延税金資産683---
貸倒引当金-1-5--
流動資産60,71353,85957,156-
固定資産
建物・構築物37,48740,579--
機械・運搬具78,14983,270--
土地18,43618,43618,148-
建設仮勘定1,661459788-
有形固定資産51,11453,26553,862-
のれん1,2215,3884,639-
無形固定資産1,8998,6707,657-
投資有価証券10,91112,786--
繰延税金資産6671,008--
貸倒引当金-59-58--
敷金および保証金----
投資その他の資産18,50124,071--
固定資産71,51586,00884,548-
総資産132,229139,867141,705-
 
負債
有利子負債合計18,17520,21119,905-
仕入債務8,7109,9538,044-
前受金----
未払法人税等2,9851,411--
繰延税金負債(固定)1,7911,589--
負債42,35744,80449,309-
 
純資産
資本金7,0837,0837,083-
資本剰余金1,2911,291--
利益剰余金75,36679,15779,469-
自己株式-2,907-2,910--
非支配株主持分7,5309,5879,668-
純資産89,87195,06392,395-
キャッシュフロー(百万円)
研究開発費(百万円)
C/S
2018.32019.32020.32021.3E
営業CF
税金等調整前当期純利益13,42910,468--
減価償却費4,3234,6605,191-
のれん償却額631416746-
減損損失----
受取利息及び受取配当金-113-67--
売上債権の増減額-527641--
棚卸資産の増減額-4,842253--
仕入債務の増減額2,294429--
営業CF15,65212,08111,167-
投資CF
有価証券の取得-10-2,8330-
有価証券の売却・償還123940-
固定資産の購入-5,148-8,183-7,025-
固定資産の売却5130-
貸付け----
貸付金の回収----
投資CF-5,062-20,652-7,146-
財務CF
短期借入金の純増減額----
長期借入れ6001,600--
長期借入金の返済-1,213-1,134--
社債の発行----
社債の償還----
自己株式の取得-2-2--
自己株式の売却----
配当金の支払-3,063-3,063--
財務CF-4,693-1,050-3,425-
換算差額--14--
その他
2018.32019.32020.32021.3E
設備投資額6,0916,576--
研究開発費1,0161,092--
発行済株式総数28,333,480株28,333,480株28,333,480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983人1,201人--
売上/従業員(千円)109,880107,112--
営利/従業員(千円)5,5546,464--
四半期売上(百万円)
売上5y CAGR・予想:2.7 %
四半期利益(百万円)
営利5y CAGR・予想:-2.1 %
純利5y CAGR・予想:-24.7 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上26,70952,40980,739105,29126,69351,02078,550105,27428,79556,86186,961113,854115,000
前期比103.3%102.3%102.8%102.0%99.9%97.3%97.3%100.0%107.9%111.4%110.7%108.2%101.0%
売上原価19,86939,44960,45579,57420,55539,67860,40781,28922,11443,25766,22287,842-
売上総利益6,83912,96020,28325,7176,13811,34218,14323,9856,68013,60320,73826,011-
%25.6%24.7%25.1%24.4%23.0%22.2%23.1%22.8%23.2%23.9%23.8%22.8%-
販管費4,7289,36914,47519,3625,0049,72015,11320,2425,28210,52515,77121,162-
営業利益2,1113,5915,8076,3541,1341,6213,0303,7421,3983,0784,9664,8484,800
前期比137.6%161.0%139.5%121.8%53.7%45.1%52.2%58.9%123.3%189.9%163.9%129.6%99.0%
%7.9%6.9%7.2%6.0%4.2%3.2%3.9%3.6%4.9%5.4%5.7%4.3%4.2%
受取利息および受取配当金759910911326496067648697--
持分法による投資利益592791--41--------
営業外収益2,4024,7106,0038,4271,9584,1036,3007,7757891,1191,3851,723-
支払利息203754731732487423416386-
持分法による投資損失--158701-485823574878451,038--
営業外費用632114481,172817531,1841,2042431,1431,5511,589-
経常利益4,4508,09011,36213,6093,0124,9718,14610,3141,9453,0544,8004,9824,800
固定資産売却益-------------
投資有価証券売却益-737373--17368147209--
特別利益2497121121999100443341450847867-
固定資産売却損-------------
投資有価証券売却損---275---------
減損損失-------------
特別損失012630196186288-194251,171-
税引前利益4,4738,18611,45813,4293,0125,0098,16010,4682,2863,4855,2224,678-
法人税等1,2962,4623,6934,5129591,7022,8443,1407831,3692,0602,077-
%34.8%34.8%34.8%34.8%33.6%33.6%33.6%33.6%30.0%30.0%30.0%44.4%-
当期純利益3,1775,7237,7648,9172,0523,3065,3157,3281,5032,1163,1622,600-
非支配株主に帰属する当期純利益259399546603122163283465226439403--
親会社株主に帰属する当期純利益2,9175,3247,2188,3131,9293,1435,0316,8621,2761,6772,7592,4222,400
前期比140.7%146.5%127.1%111.1%66.1%59.0%69.7%82.5%66.1%53.4%54.8%35.3%99.1%
%7.3%7.3%7.3%7.3%7.9%7.9%7.9%7.9%6.5%6.5%6.5%2.1%2.1%
 
EBITDA10,06410,06410,06410,06411,30811,30811,30811,3088,8188,8188,81810,78511,037
EPS293.4円293.4円293.4円293.4円242.2円242.2円242.2円242.2円85.5円85.5円85.5円85.5円91.8円
BPS2,752.3円2,838.7円2,860.5円2,906.1円2,916.4円2,952.7円2,967.4円3,016.8円2,949.3円2,935.4円2,943.2円2,919.8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)108,000108,000108,000108,000105,000105,000105,000105,000113,000113,000113,000113,000115,000
対実績比24.7%48.5%74.8%97.5%25.4%48.6%74.8%100.3%25.5%50.3%77.0%100.8%-
営業利益(期初予)5,2005,2005,2005,2004,7004,7004,7004,7005,1005,1005,1005,1004,800
対実績比40.6%69.1%111.7%122.2%24.1%34.5%64.5%79.6%27.4%60.4%97.4%95.1%-
純利益(期初予)8,0008,0008,0008,0007,6007,6007,6007,6002,6002,6002,6002,6002,400
対実績比36.5%66.6%90.2%103.9%25.4%41.4%66.2%90.3%49.1%64.5%106.1%93.2%-
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3,255円3,785円4,760円4,110円3,435円3,260円2,783円2,726円2,228円2,231円2,278円2,077円-
企業価値87,039102,056122,404109,81689,19684,23667,94780,81466,86360,82462,15663,234-
時価総額92,225107,242134,867116,45197,32692,36778,85277,23763,12763,21264,54458,849-
純有利子負債-5,186-5,186-12,463-6,635-8,130-8,131-10,9053,5773,736-2,388-2,3884,385-
PER(会予)11.5倍13.4倍15.3倍13.2倍12.8倍12.2倍10.4倍-24.3倍24.3倍24.8倍22.6倍-
PBR1.2倍1.4倍1.7倍1.4倍1.2倍1.1倍0.9倍0.9倍0.7倍0.8倍0.8倍0.7倍-
PER × PBR13.6倍18.4倍25.7倍19.0倍15.1倍13.6倍9.8倍-17.9倍18.5倍19.3倍16.1倍-
EV/EBITDA(会予)8.7倍10.2倍11.3倍10.1倍9.2倍8.7倍7.0倍9.3倍6.6倍6.0倍6.1倍5.7倍-
PSR(会予)0.9倍1.0倍1.3倍1.1倍0.9倍0.9倍0.8倍0.7倍0.6倍0.6倍0.6倍0.5倍-
PCFR(会予)7.2倍8.3倍9.9倍8.5倍7.8倍7.4倍6.3倍-8.2倍8.2倍8.4倍6.9倍-
配当金---110.0円---110.0円---50.0円50.0円
配当利回り3.1%2.6%2.1%2.4%3.2%3.4%4.0%4.0%4.9%4.9%4.8%2.4%-
配当性向---37.5%---45.4%---58.5%-
自己資本配当率4.0%3.9%3.8%3.8%3.8%3.7%3.7%3.6%1.7%1.7%1.7%1.7%-
ROE10.7%10.3%10.3%10.1%8.3%8.2%8.2%8.0%2.9%2.9%2.9%2.9%-
純利益率(再掲)10.9%10.2%8.9%7.9%7.2%6.2%6.4%6.5%4.4%2.9%3.2%2.1%-
総資産回転率0.9回0.8回0.8回0.8回0.8回0.8回0.8回0.8回0.8回0.8回0.8回0.8回-
財務レバレッジ1.5倍1.5倍1.6倍1.6倍1.6倍1.5倍1.5倍1.6倍1.6倍1.7倍1.7倍1.7倍-
実質ROE10.3%10.0%9.9%9.8%8.0%7.9%7.9%7.8%2.8%2.7%2.7%--
ROIC2.0%2.0%1.9%1.9%0.6%0.6%0.6%0.6%2.6%2.7%2.8%2.7%-
ROA6.9%6.6%6.4%6.3%5.5%5.4%5.0%4.9%1.7%1.7%1.7%1.7%-
β0.480.460.540.570.620.600.580.630.700.730.710.60-
βの決定係数(R2)0.140.130.150.190.170.160.180.210.270.290.290.23-
自己資本比率(%)
利益剰余金(百万円)
有利子負債(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20,95226,43524,81025,06923,22724,22816,63415,23218,89120,83214,06315,520-
売上債権8,8508,8509,7419,6668,9769,0038,95510,8249,86110,11910,1199,280-
棚卸資産17,87917,87915,83123,60724,33820,10616,31925,31525,76219,07819,07828,923-
有価証券-------------
前払金-------------
繰延税金資産570612463683---------
貸倒引当金--36--1-0-6-5-5-5-5--
流動資産49,35353,50960,18760,71353,92950,96755,35953,85953,96054,54957,32557,156-
固定資産
建物・構築物36,62836,76536,92837,48737,53138,31440,23440,57940,49539,88939,930--
機械・運搬具76,64976,54777,24278,14978,28279,43582,49383,27083,72083,77484,838--
土地18,43618,43618,43618,43618,43618,43618,43618,43618,43618,14818,14818,148-
建設仮勘定1565596041,6612,2072,5765164598231,662823788-
有形固定資産48,54249,26749,35951,11451,02153,06552,31853,26553,28753,36753,21853,862-
のれん1,6851,5291,3741,2211,1331,0466,6145,3885,2494,9534,7714,639-
無形固定資産2,4112,2152,0511,8991,7721,6427,1688,6708,4428,0167,7937,657-
投資有価証券12,43512,58611,65710,91110,89613,06512,73812,78612,95512,14511,884--
繰延税金資産6886586556678959178861,008-----
貸倒引当金-25-25-25-59-59-60-60-58-57-51-51--
敷金および保証金-------------
投資その他の資産20,24120,54319,17118,50118,63820,88621,97724,07123,72323,03223,044--
固定資産71,19572,02670,58271,51571,43275,59481,46486,00885,45384,41684,05684,548-
総資産120,549125,536130,770132,229125,362126,562136,823139,867139,413138,965141,381141,705-
 
負債
有利子負債合計15,76615,76613,97218,17516,93915,09613,32320,21118,96818,44418,44419,905-
仕入債務4,8984,8986,3328,7107,5476,4426,5379,9539,4088,4958,4958,044-
前受金-------------
未払法人税等1,3282,5281,8192,9859051,7185491,4111,1612,3311,659--
繰延税金負債(固定)1,8671,9371,7981,7911,4211,4521,5291,589-----
負債35,34037,72042,22742,35735,07335,20543,95944,80446,57745,87948,10649,309-
 
純資産
資本金7,0837,0837,0837,0837,0837,0837,0837,0837,0837,0837,0837,083-
資本剰余金1,2911,2911,2911,2911,2911,2911,2911,2917081,2911,291--
利益剰余金71,30573,71174,27175,36675,69376,90777,32679,15778,96579,36679,80579,469-
自己株式-2,905-2,906-2,907-2,907-2,908-2,909-2,909-2,910-4,032-5,215-5,215--
非支配株主持分7,2277,3877,4957,5307,6567,6968,7859,5879,2739,9179,8849,668-
純資産85,20987,81688,54289,87190,28891,35692,86395,06392,83693,08693,27492,395-
キャッシュフロー(百万円)
研究開発費(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4,4738,18611,45813,4293,0125,0098,16010,4682,2863,4855,222--
減価償却費-2,146-4,323-2,222-4,660-2,566-5,191-
のれん償却額-322-631-174-416-374-746-
減損損失-------------
受取利息及び受取配当金--99--113--49--67--87---
売上債権の増減額--1,292--527-20-641--303---
棚卸資産の増減額-3,663--4,842-8,019-253-6,600---
仕入債務の増減額-918-2,294--1,238-429--759---
営業CF-14,757-15,652-11,236-12,081-12,723-11,167-
投資CF
有価証券の取得0-50-100-2,8240-2,8330-27600-
有価証券の売却・償還0123012300094017700-
固定資産の購入0-1,2920-5,1480-4,0100-8,1830-2,9960-7,025-
固定資産の売却050503013031400-
貸付け-------------
貸付金の回収-------------
投資CF--1,035--5,062--6,648--20,652--2,568--7,146-
財務CF
短期借入金の純増減額-------------
長期借入れ---600---1,600-5,000---
長期借入金の返済--606--1,213--574--1,134--760---
社債の発行-------------
社債の償還-------------
自己株式の取得--1--2--2--2--2,304---
自己株式の売却-------------
配当金の支払--1,731--3,063--1,597--3,063--1,464---
財務CF--6,259--4,693--5,228--1,050--4,241--3,425-
換算差額--------14--13---
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額---6,091---6,576-----
研究開発費---1,016---1,092-----
発行済株式総数28,333,480株28,333,480株28,333,480株28,333,480株28,333,480株28,333,480株28,333,480株28,333,480株28,333,480株28,333,480株28,333,480株28,333,480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---983人---1,201人-----
売上/従業員(千円)109,880109,880109,880109,880107,112107,112107,112107,11287,65587,65587,655--
営利/従業員(千円)5,5545,5545,5545,5546,4646,4646,4646,4643,1163,1163,116--