通期売上(百万円)
売上5y CAGR・予想:-1.0 %
通期利益(百万円)
営利5y CAGR・実績:-14.4 %
純利5y CAGR・予想:-19.1 %
P/L
2018.32019.32020.32021.3E
売上1,150,2101,127,4831,100,0391,048,000
前期比105.4%98.0%97.6%95.3%
売上原価752,779731,904696,166-
売上総利益397,430395,578403,873-
%34.6%35.1%36.7%-
販管費314,109---
営業利益83,32053,14948,773-
前期比97.6%63.8%91.8%-
%7.2%4.7%4.4%0.0%
受取利息および受取配当金----
持分法による投資利益--515--
営業外収益9,584---
支払利息----
持分法による投資損失----
営業外費用7,458---
経常利益85,44554,20248,795-
固定資産売却益----
投資有価証券売却益----
特別利益----
固定資産売却損----
投資有価証券売却損----
減損損失----
特別損失----
税引前利益85,44554,20248,795-
法人税等16,65317,72120,384-
%24.4%19.5%41.8%-
当期純利益68,79239,00428,969-
非支配株主に帰属する当期純利益-9,306--
親会社株主に帰属する当期純利益60,74129,69818,83722,500
前期比115.5%48.9%63.4%119.4%
%4.8%5.3%1.7%2.1%
 
EBITDA138,866135,103110,759-
EPS106.2円54.1円34.3円32.8円
BPS1,121.7円1,111.8円981.4円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)1,187,0001,184,0001,171,0001,048,000
対実績比96.9%95.2%93.9%-
営業利益(期初予)----
対実績比----
純利益(期初予)57,00061,00050,00022,500
対実績比106.6%48.7%37.7%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価1,925円1,769円2,011円-
企業価値1,283,1401,179,6481,094,570-
時価総額1,100,837971,4701,104,093-
純有利子負債182,303208,178-9,523-
PER(会予)19.3倍45.0倍61.3倍-
PBR1.6倍1.6倍2.0倍-
PER × PBR31.1倍72.7倍125.7倍-
EV/EBITDA(会予)----
PSR(会予)0.9倍0.8倍1.0倍-
PCFR(会予)10.0倍13.2倍13.8倍-
配当金32.0円32.0円32.0円32.0円
配当利回り1.6%1.8%1.6%-
配当性向30.1%59.2%93.3%-
自己資本配当率2.9%2.9%3.3%-
ROE9.5%4.9%3.5%-
純利益率(再掲)5.3%2.6%1.7%-
総資産回転率0.8回0.8回0.8回-
財務レバレッジ2.1倍2.3倍2.5倍-
実質ROE9.3%4.8%--
ROIC6.8%4.7%4.2%-
ROA4.3%2.1%1.4%-
β0.570.500.32-
βの決定係数(R2)0.190.150.09-
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187,869153,725141,701-
売上債権212,991205,3970-
棚卸資産191,343193,420178,636-
有価証券-16,526--
前払金----
繰延税金資産----
貸倒引当金----
流動資産604,135591,167538,901-
固定資産
建物・構築物----
機械・運搬具----
土地----
建設仮勘定----
有形固定資産-423,369454,357-
のれん-91,373--
無形固定資産-66,132--
投資有価証券----
繰延税金資産-15,589--
貸倒引当金----
敷金および保証金----
投資その他の資産----
固定資産821,724802,701814,714-
総資産1,425,8601,393,8691,353,616-
 
負債
有利子負債合計360,111362,454132,178-
仕入債務170,763170,9860-
前受金----
未払法人税等-9,549--
繰延税金負債(固定)-7,392--
負債705,312707,909761,545-
 
純資産
資本金79,86379,86379,863-
資本剰余金-3,266--
利益剰余金629,583595,311574,287-
自己株式-9,585-2,361--
非支配株主持分79,10175,41753,095-
純資産720,546685,960592,070-
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-54,202--
減価償却費51,78352,48561,986-
のれん償却額----
減損損失----
受取利息及び受取配当金--3,239--
売上債権の増減額--644--
棚卸資産の増減額--3,877--
仕入債務の増減額-3,375--
営業CF126,655123,256114,856-
投資CF
有価証券の取得000-
有価証券の売却・償還000-
固定資産の購入0-80,007-82,041-
固定資産の売却000-
貸付け----
貸付金の回収----
投資CF-99,104-72,923-66,651-
財務CF
短期借入金の純増減額----
長期借入れ----
長期借入金の返済--11,962--
社債の発行----
社債の償還----
自己株式の取得--40,062--
自己株式の売却----
配当金の支払--18,455--
財務CF-23,951-78,923-52,306-
換算差額--754--
その他
2018.32019.32020.32021.3E
設備投資額-79,632--
研究開発費27,833---
発行済株式総数571,863,354株549,163,354株549,163,354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34,452人34,504人--
売上/従業員(千円)33,34233,386--
営利/従業員(千円)2,6072,418--
四半期売上(百万円)
売上5y CAGR・予想:-1.0 %
四半期利益(百万円)
営利5y CAGR・実績:-14.4 %
純利5y CAGR・予想:-19.1 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上267,749546,770859,8041,150,210271,482546,493846,4821,127,483266,882538,717831,8001,100,0391,048,000
前期比101.8%104.6%105.9%105.4%101.4%99.9%98.5%98.0%98.3%98.6%98.3%97.6%95.3%
売上原価173,228355,381557,032752,779177,332354,888546,019731,904169,297343,055525,327696,166-
売上総利益94,521191,389302,771397,43094,150191,604300,462395,57897,584195,662306,473403,873-
%35.3%35.0%35.2%34.6%34.7%35.1%35.5%35.1%36.6%36.3%36.8%36.7%-
販管費69,464142,789221,921314,10972,711147,937256,029------
営業利益25,05548,59880,84883,32021,43843,66644,43253,14926,62221,15748,49848,773-
前期比121.9%124.1%117.4%97.6%85.6%89.9%55.0%63.8%124.2%48.5%109.2%91.8%-
%9.4%8.9%9.4%7.2%7.9%8.0%5.2%4.7%10.0%3.9%5.8%4.4%0.0%
受取利息および受取配当金-------------
持分法による投資利益--------5151,490-1,808-825--
営業外収益2,0603,4094,9329,5842,9273,5115,709------
支払利息-------------
持分法による投資損失-------------
営業外費用1,1502,1413,5237,4582,4243,1715,722------
経常利益25,96449,86682,25785,44521,94044,00644,41854,20226,99221,38649,27448,795-
固定資産売却益-------------
投資有価証券売却益-------------
特別利益-------------
固定資産売却損-------------
投資有価証券売却損-------------
減損損失-------------
特別損失-------------
税引前利益25,96449,86682,25785,44521,94044,00644,41854,20226,99221,38649,27448,795-
法人税等7,38013,59719,72116,6535,94613,75316,67717,7217,3668,58817,72520,384-
%24.4%24.4%24.4%24.4%19.5%19.5%19.5%19.5%32.7%32.7%32.7%41.8%-
当期純利益18,58436,26862,53568,79216,15631,011-39,00419,17512,34731,09828,969-
非支配株主に帰属する当期純利益-------9,3062,6995,2597,929--
親会社株主に帰属する当期純利益16,06331,29655,07160,74113,70726,08322,35129,69816,4767,08823,16918,83722,500
前期比116.6%125.0%121.4%115.5%85.3%83.3%40.6%48.9%120.2%27.2%103.7%63.4%119.4%
%4.8%4.8%4.8%4.8%5.3%5.3%5.3%5.3%2.6%2.6%2.6%1.7%2.1%
 
EBITDA138,866138,866138,866138,866135,103135,103135,103135,103105,634105,634105,634110,759-
EPS106.2円106.2円106.2円106.2円51.9円51.9円54.1円54.1円34.3円34.3円34.3円34.3円32.8円
BPS1,098.6円1,157.1円1,194.7円1,121.7円1,102.1円1,118.8円1,094.6円1,111.8円1,103.9円1,076.4円1,121.5円981.4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)1,187,0001,187,0001,187,0001,187,0001,184,0001,184,0001,184,0001,184,0001,171,0001,171,0001,171,0001,171,0001,048,000
対実績比22.6%46.1%72.4%96.9%22.9%46.2%71.5%95.2%22.8%46.0%71.0%93.9%-
営業利益(期初予)-------------
対実績比-------------
純利益(期初予)57,00057,00057,00057,00061,00061,00061,00061,00050,00050,00050,00050,00022,500
対実績比28.2%54.9%96.6%106.6%22.5%42.8%36.6%48.7%33.0%14.2%46.3%37.7%-
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2,427円2,196円2,121円1,925円2,096円1,951円1,957円1,769円1,868円2,040円1,815円2,011円-
企業価値1,551,2541,419,4401,384,1261,283,1401,347,0331,307,1871,331,9081,179,6481,020,2581,126,3311,002,7691,094,570-
時価総額1,387,6261,255,8121,212,9221,100,8371,198,6261,115,4191,119,137971,4701,025,8371,120,293996,7311,104,093-
純有利子負債163,628163,628171,204182,303148,407191,768212,771208,178-5,5796,0386,038-9,523-
PER(会予)24.3倍22.0倍21.3倍19.3倍19.6倍18.3倍20.3倍45.0倍20.5倍22.4倍55.4倍61.3倍-
PBR2.2倍2.0倍1.8倍1.6倍1.9倍1.8倍1.7倍1.6倍1.7倍1.9倍1.7倍2.0倍-
PER × PBR53.8倍44.0倍39.0倍31.1倍36.7倍32.4倍35.6倍72.7倍34.5倍42.5倍93.4倍125.7倍-
EV/EBITDA(会予)-------------
PSR(会予)1.2倍1.1倍1.0倍0.9倍1.0倍0.9倍1.0倍0.8倍0.9倍1.0倍0.9倍1.0倍-
PCFR(会予)12.6倍11.4倍11.0倍10.0倍10.6倍9.9倍10.5倍13.2倍10.0倍10.9倍14.1倍13.8倍-
配当金---32.0円---32.0円---32.0円32.0円
配当利回り1.2%1.4%1.4%1.6%1.5%1.6%1.6%1.8%1.7%1.6%1.8%1.6%-
配当性向---30.1%---59.2%---93.3%-
自己資本配当率2.9%2.8%2.7%2.9%2.9%2.9%2.9%2.9%2.9%3.0%2.9%3.3%-
ROE9.7%9.2%8.9%9.5%4.7%4.6%4.9%4.9%3.1%3.2%3.1%3.5%-
純利益率(再掲)6.0%5.7%6.4%5.3%5.0%4.8%2.6%2.6%6.2%1.3%2.8%1.7%-
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2.2倍2.2倍2.1倍2.1倍2.2倍2.2倍2.2倍2.3倍2.3倍2.3倍2.3倍2.5倍-
実質ROE9.6%9.1%8.8%9.3%4.5%4.3%4.9%4.8%3.1%3.2%3.0%--
ROIC6.9%6.7%6.4%6.8%3.6%3.6%3.7%4.7%3.8%3.9%3.8%4.2%-
ROA4.5%4.4%4.2%4.3%2.1%2.1%2.1%2.1%1.3%1.4%1.3%1.4%-
β0.450.480.560.570.640.620.560.500.450.440.380.32-
βの決定係数(R2)0.130.140.180.190.210.200.200.150.130.130.100.09-
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174,864160,376177,808187,869169,183145,217154,276153,725143,897135,752138,512141,701-
売上債権175,295175,295191,392212,991200,270183,497190,111205,397194,270177,400177,4000-
棚卸資産182,869182,869193,192191,343184,086189,590200,336193,420185,036195,274195,274178,636-
有価証券-------16,52612,72211,47816,195--
前払金-------------
繰延税金資産-------------
貸倒引当金-------------
流動資産569,740577,783620,114604,135600,378590,626605,492591,167551,341541,590565,933538,901-
固定資産
建物・構築物-------------
機械・運搬具-------------
土地-------------
建設仮勘定-------------
有形固定資産-------423,369472,505455,273459,756454,357-
のれん-------91,37389,64491,92092,874--
無形固定資産-------66,13265,15766,58567,225--
投資有価証券-------------
繰延税金資産-------15,58916,88717,11616,836--
貸倒引当金-------------
敷金および保証金-------------
投資その他の資産-------------
固定資産782,311809,232828,493821,724812,699822,855785,679802,701850,378830,283835,279814,714-
総資産1,352,0501,387,0201,448,6101,425,8601,413,0801,413,4801,391,1701,393,8691,401,7191,371,8741,401,2121,353,616-
 
負債
有利子負債合計338,492338,492331,580360,111336,276360,951357,988362,454148,146141,790141,790132,178-
仕入債務151,581151,581162,320170,763185,443161,262164,819170,986183,276154,944154,9440-
前受金-------------
未払法人税等-------9,54910,40611,25811,016--
繰延税金負債(固定)-------7,3927,1663,1362,950--
負債648,558648,965684,764705,312703,877701,515717,429707,909720,054703,122703,071761,545-
 
純資産
資本金79,86379,86379,86379,86379,86379,86379,86379,86379,86379,86379,86379,863-
資本剰余金-------3,2663,345-72-191--
利益剰余金592,348608,150623,516629,583634,076646,939587,473595,311604,410595,423604,699574,287-
自己株式-6,898-9,071-9,075-9,585-25,777-49,589-2,359-2,361-2,362-2,242-2,159--
非支配株主持分75,21976,35480,63679,10178,92672,16672,64075,41775,43277,61582,27653,095-
純資産703,494738,050763,842720,546709,200711,966673,743685,960681,665668,751698,141592,070-
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-------54,20226,99221,38649,274--
減価償却費12,16524,82037,81251,78313,12025,985-52,48515,30330,97146,65861,986-
のれん償却額-------------
減損損失-------------
受取利息及び受取配当金--------3,239-1,992-3,165-4,909--
売上債権の増減額--------64415,65515,747-979--
棚卸資産の増減額--------3,877-9,260-13,919-10,819--
仕入債務の増減額-------3,375-13,314-19,653-9,811--
営業CF16,58244,47072,801126,65512,06231,783-123,25617,98342,32877,189114,856-
投資CF
有価証券の取得000000000000-
有価証券の売却・償還000000000000-
固定資産の購入0000000-80,007-15,823-40,765-56,297-82,041-
固定資産の売却00000000651073810-
貸付け-------------
貸付金の回収-------------
投資CF-18,995-49,399-80,327-99,104-16,842-33,015--72,923-10,066-35,590-47,060-66,651-
財務CF
短期借入金の純増減額-------------
長期借入れ-------------
長期借入金の返済--------11,962-5,594-6,856-12,076--
社債の発行-------------
社債の償還-------------
自己株式の取得--------40,0620-2-4--
自己株式の売却-------------
配当金の支払--------18,455-8,421-8,776-17,519--
財務CF-9,196-22,337-3,169-23,951-7,418-44,350--78,923-16,892-22,685-45,535-52,306-
換算差額--------754-853-2,026194--
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額-------79,632-----
研究開発費7,26913,59319,84827,8337,46614,22420,196------
発行済株式総数571,863,354株571,863,354株571,863,354株571,863,354株571,863,354株571,863,354株549,163,354株549,163,354株549,163,354株549,163,354株549,163,354株549,163,354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---34,452人---34,504人-----
売上/従業員(千円)33,34233,34233,34233,34233,38633,38633,38633,38632,67732,67732,677--
営利/従業員(千円)2,6072,6072,6072,6072,4182,4182,4182,4181,5401,5401,540--