通期売上(百万円)
売上5y CAGR・予想:0.3 %
通期利益(百万円)
営利5y CAGR・予想:-8.3 %
純利5y CAGR・予想:-17.7 %
P/L
2018.32019.32020.32021.3E
売上834,985888,589853,746750,000
前期比112.6%106.4%96.1%87.8%
売上原価565,689620,715590,321-
売上総利益269,296267,874263,424-
%32.3%30.1%30.9%-
販管費199,474207,874207,219-
営業利益69,82260,00056,20540,000
前期比123.6%85.9%93.7%71.2%
%8.4%6.8%6.6%5.3%
受取利息および受取配当金3,0013,2932,372-
持分法による投資利益1,2144341,997-
営業外収益5,9967,2406,804-
支払利息2,6463,4993,717-
持分法による投資損失----
営業外費用7,9986,9778,673-
経常利益67,82060,26454,33740,000
固定資産売却益5,595300160-
投資有価証券売却益5854,8495,998-
特別利益6,7519,9246,706-
固定資産売却損----
投資有価証券売却損88246114-
減損損失1,0765,99011,030-
特別損失6,6779,82819,485-
税引前利益67,89460,36041,557-
法人税等20,79213,56314,578-
%-51.5%30.6%35.1%-
当期純利益47,10146,79726,980-
非支配株主に帰属する当期純利益1,5451,7401,727-
親会社株主に帰属する当期純利益45,55645,05725,25223,000
前期比90.9%98.9%56.0%91.1%
%6.8%5.5%3.0%3.1%
 
EBITDA56,51269,82256,20555,000
EPS230.3円234.9円131.6円177.1円
BPS1,986.3円2,141.3円2,053.6円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)855,000880,000910,000750,000
対実績比97.7%101.0%93.8%-
営業利益(期初予)62,00070,00060,00040,000
対実績比112.6%85.7%93.7%-
純利益(期初予)42,00047,00041,00023,000
対実績比108.5%95.9%61.6%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価2,001円1,826円1,830円-
企業価値645,475619,942607,428-
時価総額393,723350,203351,251-
純有利子負債251,752269,739256,177-
PER(会予)8.7倍7.6倍10.3倍-
PBR1.0倍0.8倍0.9倍-
PER × PBR8.7倍6.4倍9.2倍-
EV/EBITDA(会予)9.5倍10.3倍11.0倍-
PSR(会予)0.5倍0.4倍0.4倍-
PCFR(会予)8.7倍7.6倍10.3倍-
配当金60.0円70.0円60.0円60.0円
配当利回り2.7%3.3%3.3%-
配当性向26.1%29.8%45.6%-
自己資本配当率3.0%3.3%2.9%-
ROE11.6%11.0%6.4%-
純利益率(再掲)5.5%5.1%3.0%-
総資産回転率0.8回0.9回0.9回-
財務レバレッジ2.5倍2.5倍2.5倍-
実質ROE11.6%10.6%6.2%-
ROIC6.7%6.0%5.4%-
ROA4.6%4.4%2.5%-
β0.961.130.95-
βの決定係数(R2)0.420.540.54-
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96,417100,592113,500-
売上債権172,902180,369167,194-
棚卸資産142,182155,088143,099-
有価証券14,00033,00036,000-
前払金----
繰延税金資産11,874---
貸倒引当金-578-582-523-
流動資産489,733523,854505,323-
固定資産
建物・構築物60,10664,15965,037-
機械・運搬具94,869105,908110,956-
土地42,09143,33443,174-
建設仮勘定20,60830,82742,226-
有形固定資産240,289267,887296,081-
のれん27,19132,84523,813-
無形固定資産60,34069,51060,387-
投資有価証券127,72196,17976,633-
繰延税金資産3,0177,521--
貸倒引当金-2,101-1,670-1,604-
敷金および保証金----
投資その他の資産195,821159,403142,432-
固定資産496,451496,800498,900-
総資産986,1841,020,6541,004,223-
 
負債
有利子負債合計345,816372,342369,677-
仕入債務89,97594,95580,068-
前受金----
未払法人税等5,1106,8795,464-
繰延税金負債(固定)9,2233,539--
負債577,947593,442592,814-
 
純資産
資本金71,83271,83371,833-
資本剰余金104,685104,256103,692-
利益剰余金202,413235,324247,055-
自己株式-166-13,412-13,131-
非支配株主持分14,45215,59516,475-
純資産408,237427,212411,409-
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67,89460,36041,557-
減価償却費----
のれん償却額----
減損損失1,0765,99011,030-
受取利息及び受取配当金-3,002-3,293-2,372-
売上債権の増減額-10,813-13,75119,875-
棚卸資産の増減額-11,295-8,187-4,460-
仕入債務の増減額12,307-1,343-9,465-
営業CF80,09180,89994,214-
投資CF
有価証券の取得-5,160-3,620-5,700-
有価証券の売却・償還68940,3579,250-
固定資産の購入-46,035-58,927-70,321-
固定資産の売却10,143310261-
貸付け-868-532-1,277-
貸付金の回収300931,273-
投資CF-51,307-41,288-67,922-
財務CF
短期借入金の純増減額10,61831,433-2,769-
長期借入れ16,05125,91816,675-
長期借入金の返済-45,831-27,858-6,735-
社債の発行--15,000-
社債の償還--11,910-15,000-
自己株式の取得--20,039-12-
自己株式の売却----
配当金の支払-11,804-11,688-13,427-
財務CF-31,485-15,353-8,059-
換算差額1,309-184-2,438-
その他
2018.32019.32020.32021.3E
設備投資額-62,80068,600-
研究開発費35,92636,42234,482-
発行済株式総数197,820,227株191,812,131株191,940,423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19,711人20,671人20,075人-
売上/従業員(千円)38,42542,36142,528-
営利/従業員(千円)2,9293,5422,800-
四半期売上(百万円)
売上5y CAGR・予想:0.3 %
四半期利益(百万円)
営利5y CAGR・予想:-8.3 %
純利5y CAGR・予想:-17.7 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上198,239404,654614,677834,985216,374439,418659,650888,589214,621436,040647,460853,746750,000
前期比113.8%114.6%114.9%112.6%109.1%108.6%107.3%106.4%99.2%99.2%98.2%96.1%87.8%
売上原価131,298271,063413,858565,689147,656303,301459,687620,715146,957300,360446,473590,321-
売上総利益66,941133,590200,819269,29668,718136,117199,963267,87467,664135,680200,988263,424-
%33.8%33.0%32.7%32.3%31.8%31.0%30.3%30.1%31.5%31.1%31.0%30.9%-
販管費47,79696,057144,527199,47450,46799,916151,861207,87450,706101,921152,772207,219-
営業利益19,14537,53256,29269,82218,25136,20048,10260,00016,95833,75948,21656,20540,000
前期比122.0%139.0%129.1%123.6%95.3%96.5%85.5%85.9%92.9%93.3%100.2%93.7%71.2%
%9.7%9.3%9.2%8.4%8.4%8.2%7.3%6.8%7.9%7.7%7.4%6.6%5.3%
受取利息および受取配当金1,3501,6962,6623,0011,4591,8052,8263,2938201,3411,8722,372-
持分法による投資利益2978158941,2142711,3611,6104343901,0581,2221,997-
営業外収益2,3193,4795,6135,9965,0098,1218,2787,2402,8994,6684,4616,804-
支払利息6081,3381,9802,6468121,7172,6293,4998991,8872,8373,717-
持分法による投資損失-------------
営業外費用1,4253,0895,0927,9982,0664,5575,0736,9772,9965,3445,2418,673-
経常利益20,03937,92356,81367,82021,19439,76551,30760,26416,86133,08347,43654,33740,000
固定資産売却益485,4665,5155,595250269292300212828160-
投資有価証券売却益-432432585-3,5953,5864,8493,7043,8105,2325,998-
特別利益735,9846,3096,7515,2368,5378,6109,9243,7404,3565,8026,706-
固定資産売却損-------------
投資有価証券売却損4343-88--255246---114-
減損損失01693851,076523,9413,9535,9901,6981,9882,33511,030-
特別損失5531,3262,9586,6773394,9585,6319,8285,5428,4639,27019,485-
税引前利益19,55942,58060,16467,89426,09243,34454,28660,36015,05928,97743,96841,557-
法人税等5,99812,41419,19020,7926,4038,76712,50913,5634,0007,72112,44414,578-
%-51.5%-51.5%-51.5%-51.5%30.6%30.6%30.6%30.6%22.5%22.5%22.5%35.1%-
当期純利益13,56130,16640,97347,10119,68934,57841,77746,79711,05921,25531,52426,980-
非支配株主に帰属する当期純利益164--1,5452086701,0241,7402828121,3581,727-
親会社株主に帰属する当期純利益13,39629,18339,72745,55619,48133,90840,75345,05710,77720,44430,16625,25223,000
前期比117.1%136.6%116.6%90.9%145.4%116.2%102.6%98.9%55.3%60.3%74.0%56.0%91.1%
%6.8%6.8%6.8%6.8%5.5%5.5%5.5%5.5%5.1%5.1%5.1%3.0%3.1%
 
EBITDA56,51256,51256,51256,51269,82269,82269,82269,82260,00060,00060,00056,20555,000
EPS231.5円231.5円231.5円230.3円227.8円234.9円234.9円234.9円131.6円131.6円131.6円131.6円177.1円
BPS1,840.8円1,947.5円2,014.5円1,986.3円2,063.7円2,176.5円2,158.3円2,141.3円2,087.0円2,102.7円2,177.6円2,053.6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)855,000855,000855,000855,000880,000880,000880,000880,000910,000910,000910,000910,000750,000
対実績比23.2%47.3%71.9%97.7%24.6%49.9%75.0%101.0%23.6%47.9%71.1%93.8%-
営業利益(期初予)62,00062,00062,00062,00070,00070,00070,00070,00060,00060,00060,00060,00040,000
対実績比30.9%60.5%90.8%112.6%26.1%51.7%68.7%85.7%28.3%56.3%80.4%93.7%-
純利益(期初予)42,00042,00042,00042,00047,00047,00047,00047,00041,00041,00041,00041,00023,000
対実績比31.9%69.5%94.6%108.5%41.4%72.1%86.7%95.9%26.3%49.9%73.6%61.6%-
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2,161円2,218円2,510円2,001円2,032円2,179円1,757円1,826円1,837円2,076円2,045円1,830円-
企業価値711,436722,650756,195645,475648,218703,236635,052619,942619,316683,591677,644607,428-
時価総額425,168436,382493,861393,723401,971431,078336,976350,203352,359398,231392,284351,251-
純有利子負債286,268286,268262,334251,752246,247272,158298,076269,739266,957285,360285,360256,177-
PER(会予)10.1倍9.9倍11.0倍8.7倍8.6倍9.0倍7.0倍7.6倍8.6倍9.7倍11.5倍10.3倍-
PBR1.2倍1.2倍1.3倍1.0倍1.0倍1.1倍0.8倍0.8倍0.9倍1.0倍1.0倍0.9倍-
PER × PBR11.9倍11.9倍14.1倍8.7倍8.7倍9.5倍5.7倍6.4倍7.4倍9.6倍11.2倍9.2倍-
EV/EBITDA(会予)11.5倍11.3倍11.1倍9.5倍9.3倍10.0倍9.8倍10.3倍10.3倍11.4倍12.3倍11.0倍-
PSR(会予)0.5倍0.5倍0.6倍0.5倍0.5倍0.5倍0.4倍0.4倍0.4倍0.4倍0.5倍0.4倍-
PCFR(会予)10.1倍9.9倍11.0倍8.7倍8.6倍9.0倍7.0倍7.6倍8.6倍9.7倍11.5倍10.3倍-
配当金---60.0円---70.0円---60.0円60.0円
配当利回り2.5%2.5%2.2%2.7%3.0%2.8%3.4%3.3%3.8%3.4%3.4%3.3%-
配当性向---26.1%---29.8%---45.6%-
自己資本配当率3.3%3.1%3.0%3.0%3.4%3.2%3.2%3.3%2.9%2.9%2.8%2.9%-
ROE12.6%11.9%11.5%11.6%11.0%10.8%10.9%11.0%6.3%6.3%6.0%6.4%-
純利益率(再掲)6.8%7.2%6.5%5.5%9.0%7.7%6.2%5.1%5.0%4.7%4.7%3.0%-
総資産回転率0.9回0.9回0.9回0.8回0.9回0.8回0.9回0.9回0.9回0.8回0.8回0.9回-
財務レバレッジ2.7倍2.7倍2.5倍2.5倍2.5倍2.5倍2.5倍2.5倍2.5倍2.6倍2.6倍2.5倍-
実質ROE12.6%11.9%11.5%11.6%11.0%10.5%10.5%10.6%6.1%6.1%5.9%6.2%-
ROIC6.6%6.8%6.6%6.7%5.9%5.7%5.9%6.0%5.4%5.2%5.2%5.4%-
ROA4.7%4.8%4.7%4.6%4.4%4.3%4.4%4.4%2.5%2.5%2.4%2.5%-
β0.880.880.850.961.061.071.081.131.151.151.100.95-
βの決定係数(R2)0.300.370.350.420.450.450.500.540.580.580.590.54-
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98,13977,08094,06496,417111,515100,892102,603100,59294,923111,726117,965113,500-
売上債権160,988160,988176,173172,902177,776180,309190,103180,369194,241178,015178,015167,194-
棚卸資産132,153132,153138,502142,182136,262146,133153,450155,088145,880151,174151,174143,099-
有価証券20,00010,0003,00014,00027,00020,00036,00033,00036,00036,00036,00036,000-
前払金-------------
繰延税金資産---11,874---------
貸倒引当金-611-592-570-578-675-582-675-582-536-382-345-523-
流動資産473,640459,465475,478489,733520,455546,488522,713523,854511,621525,474527,978505,323-
固定資産
建物・構築物62,01060,24660,59360,10661,43263,96262,67764,15962,06663,08763,62965,037-
機械・運搬具95,66295,58895,36594,86994,387100,430100,658105,908103,895108,551109,503110,956-
土地---42,091---43,334---43,174-
建設仮勘定---20,608---30,827---42,226-
有形固定資産240,943238,654240,134240,289245,800256,411257,297267,887276,167283,006289,637296,081-
のれん31,58231,42430,38027,19127,44440,00337,55632,84530,48036,31535,63223,813-
無形固定資産66,80966,35064,57060,34060,71773,49769,60569,51065,26370,93070,13760,387-
投資有価証券120,863122,841130,869127,721130,565103,11597,96796,17985,23788,08292,46976,633-
繰延税金資産---3,017---7,521-----
貸倒引当金-2,102-2,126-2,111-2,101-1,991-1,972-1,444-1,670-1,637-1,620-1,616-1,604-
敷金および保証金-------------
投資その他の資産190,899189,337198,391195,821201,088176,375166,134159,403149,535151,264154,128142,432-
固定資産498,652494,342503,096496,451507,605506,283493,036496,800490,964505,200513,902498,900-
総資産972,292953,807978,574986,1841,028,0601,052,7721,015,7491,020,6541,002,5861,030,6741,041,8801,004,223-
 
負債
有利子負債合計384,407384,407339,414345,816342,664383,673398,968372,342367,549397,086397,086369,677-
仕入債務81,87581,87586,51289,97592,38298,70295,73994,95593,49981,21381,21380,068-
前受金-------------
未払法人税等1,9203,8553,1055,1103,2666,3306,2416,8793,3334,8443,3915,464-
繰延税金負債(固定)---9,223---3,539-----
負債596,612555,964567,289577,947604,653619,264586,041593,442585,986610,298606,493592,814-
 
純資産
資本金70,81670,81670,81671,83271,83371,83371,83371,83371,83371,83371,83371,833-
資本剰余金103,669103,670103,670104,685104,486103,902103,893104,256104,253103,742103,690103,692-
利益剰余金176,155191,943196,583202,413215,960230,386231,478235,324238,419248,084251,967247,055-
自己株式-247-236-232-166-151-13,465-13,469-13,412-13,396-13,381-13,359-13,131-
非支配株主持分12,65313,81614,08714,45214,26415,24714,96115,59515,36116,12816,76816,475-
純資産375,680397,842411,285408,237423,407433,508429,708427,212416,599420,376435,388411,409-
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19,55942,58060,16467,89426,09243,34454,28660,36015,05928,97743,96841,557-
減価償却費-------------
のれん償却額-------------
減損損失01693851,076523,9413,9535,9901,6981,9882,33511,030-
受取利息及び受取配当金--1,697--3,002--1,805--3,293--1,341--2,372-
売上債権の増減額--7,554--10,813--8,086--13,751-13,337-19,875-
棚卸資産の増減額--12,749--11,295--14,044--8,187--6,379--4,460-
仕入債務の増減額-5,791-12,307-1,613--1,343--8,616--9,465-
営業CF-25,785-80,091-33,915-80,899-41,575-94,214-
投資CF
有価証券の取得0-1840-5,1600-1,7530-3,6200-4,9590-5,700-
有価証券の売却・償還0432068903,727040,35707,95409,250-
固定資産の購入0-23,1390-46,0350-27,8340-58,9270-35,7180-70,321-
固定資産の売却09,711010,143028203100450261-
貸付け----868----532----1,277-
貸付金の回収---300---93---1,273-
投資CF--20,860--51,307--42,276--41,288--48,667--67,922-
財務CF
短期借入金の純増減額-8,858-10,618-61,087-31,433-13,024--2,769-
長期借入れ-422-16,051-340-25,918-5,940-16,675-
長期借入金の返済--40,334--45,831--16,001--27,858--888--6,735-
社債の発行---------15,000-15,000-
社債の償還--------11,910----15,000-
自己株式の取得------20,008--20,039--6--12-
自己株式の売却-------------
配当金の支払--5,901--11,804--5,935--11,688--7,672--13,427-
財務CF--37,288--31,485-18,814--15,353-24,287--8,059-
換算差額-1,698-1,309-886--184--3,246--2,438-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額-------62,800---68,600-
研究開発費-17,632-35,926-16,734-36,422-16,387-34,482-
発行済株式総数196,745,748株196,757,500株196,763,073株197,820,227株197,833,153株191,790,450株191,787,011株191,812,131株191,819,568株191,825,995株191,835,965株191,940,423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---19,711人---20,671人---20,075人-
売上/従業員(千円)38,42538,42538,42538,42542,36142,36142,36142,36142,98742,98742,98742,528-
営利/従業員(千円)2,9292,9292,9292,9293,5423,5423,5423,5422,9032,9032,9032,800-
四半期売上(百万円)
売上5y CAGR・予想:0.3 %
四半期利益(百万円)
営利5y CAGR・予想:-8.3 %
純利5y CAGR・予想:-17.7 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上198,239206,415210,023220,308216,374223,044220,232228,939214,621221,419211,420206,286750,000
前期比113.8%115.4%115.3%106.9%109.1%108.1%104.9%103.9%99.2%99.3%96.0%90.1%87.8%
売上原価131,298139,765142,795151,831147,656155,645156,386161,028146,957153,403146,113143,848-
売上総利益66,94166,64967,22968,47768,71867,39963,84667,91167,66468,01665,30862,436-
%33.8%32.3%32.0%31.1%31.8%30.2%29.0%29.7%31.5%30.7%30.9%30.3%-
販管費47,79648,26148,47054,94750,46749,44951,94556,01350,70651,21550,85154,447-
営業利益19,14518,38718,76013,53018,25117,94911,90211,89816,95816,80114,4577,98940,000
前期比122.0%162.7%112.9%104.9%95.3%97.6%63.4%87.9%92.9%93.6%121.5%67.1%71.2%
%9.7%8.9%8.9%6.1%8.4%8.0%5.4%5.2%7.9%7.6%6.8%3.9%5.3%
受取利息および受取配当金1,3500001,459000820000-
持分法による投資利益297518793202711,090249-1,176390668164775-
営業外収益2,3191,1602,1343835,0093,112157-1,0382,8991,769-2072,343-
支払利息608730642666812905912870899988950880-
持分法による投資損失-000-000-000-
営業外費用1,4251,6642,0032,9062,0662,4915161,9042,9962,348-1033,432-
経常利益20,03917,88418,89011,00721,19418,57111,5428,95716,86116,22214,3536,90140,000
固定資産売却益485,4184980250192382170132-
投資有価証券売却益-4320153-3,595-91,2633,7041061,422766-
特別利益735,9113254425,2363,301731,3143,7406161,446904-
固定資産売却損-000-000-000-
投資有価証券売却損430-4388-0255-9-00114-
減損損失0169216691523,889122,0371,6982903478,695-
特別損失5537731,6323,7193394,6196734,1975,5422,92180710,215-
税引前利益19,55923,02117,5847,73026,09217,25210,9426,07415,05913,91814,991-2,411-
法人税等5,9986,4166,7761,6026,4032,3643,7421,0544,0003,7214,7232,134-
%30.7%27.9%38.5%20.7%24.5%13.7%34.2%17.4%26.6%26.7%31.5%-88.5%-
当期純利益13,56116,60510,8076,12819,68914,8897,1995,02011,05910,19610,269-4,544-
非支配株主に帰属する当期純利益164-16401,545208462354716282530546369-
親会社株主に帰属する当期純利益13,39615,78710,5445,82919,48114,4276,8454,30410,7779,6679,722-4,91423,000
前期比117.1%158.9%83.1%36.3%145.4%91.4%64.9%73.8%55.3%67.0%142.0%-114.2%91.1%
%6.8%7.6%5.0%2.6%9.0%6.5%3.1%1.9%5.0%4.4%4.6%-2.4%3.1%
 
EBITDA56,51256,51256,51256,51269,82269,82269,82269,82260,00060,00060,00056,20555,000
EPS231.5円231.5円231.5円230.3円227.8円234.9円234.9円234.9円131.6円131.6円131.6円131.6円177.1円
BPS1,840.8円1,947.5円2,014.5円1,986.3円2,063.7円2,176.5円2,158.3円2,141.3円2,087.0円2,102.7円2,177.6円2,053.6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)855,000855,000855,000855,000880,000880,000880,000880,000910,000910,000910,000910,000750,000
対実績比23.2%47.3%71.9%97.7%24.6%49.9%75.0%101.0%23.6%47.9%71.1%93.8%-
営業利益(期初予)62,00062,00062,00062,00070,00070,00070,00070,00060,00060,00060,00060,00040,000
対実績比30.9%60.5%90.8%112.6%26.1%51.7%68.7%85.7%28.3%56.3%80.4%93.7%-
純利益(期初予)42,00042,00042,00042,00047,00047,00047,00047,00041,00041,00041,00041,00023,000
対実績比31.9%69.5%94.6%108.5%41.4%72.1%86.7%95.9%26.3%49.9%73.6%61.6%-
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2,161円2,218円2,510円2,001円2,032円2,179円1,757円1,826円1,837円2,076円2,045円1,830円-
企業価値711,436722,650756,195645,475648,218703,236635,052619,942619,316683,591677,644607,428-
時価総額425,168436,382493,861393,723401,971431,078336,976350,203352,359398,231392,284351,251-
純有利子負債286,268286,268262,334251,752246,247272,158298,076269,739266,957285,360285,360256,177-
PER(会予)10.1倍9.9倍11.0倍8.7倍8.6倍9.0倍7.0倍7.6倍8.6倍9.7倍11.5倍10.3倍-
PBR1.2倍1.2倍1.3倍1.0倍1.0倍1.1倍0.8倍0.8倍0.9倍1.0倍1.0倍0.9倍-
PER × PBR11.9倍11.9倍14.1倍8.7倍8.7倍9.5倍5.7倍6.4倍7.4倍9.6倍11.2倍9.2倍-
EV/EBITDA(会予)11.5倍11.3倍11.1倍9.5倍9.3倍10.0倍9.8倍10.3倍10.3倍11.4倍12.3倍11.0倍-
PSR(会予)0.5倍0.5倍0.6倍0.5倍0.5倍0.5倍0.4倍0.4倍0.4倍0.4倍0.5倍0.4倍-
PCFR(会予)10.1倍9.9倍11.0倍8.7倍8.6倍9.0倍7.0倍7.6倍8.6倍9.7倍11.5倍10.3倍-
配当金---60.0円---70.0円---60.0円60.0円
配当利回り2.5%2.5%2.2%2.7%3.0%2.8%3.4%3.3%3.8%3.4%3.4%3.3%-
配当性向---26.1%---29.8%---45.6%-
自己資本配当率3.3%3.1%3.0%3.0%3.4%3.2%3.2%3.3%2.9%2.9%2.8%2.9%-
ROE12.6%11.9%11.5%11.6%11.0%10.8%10.9%11.0%6.3%6.3%6.0%6.4%-
純利益率(再掲)6.8%7.2%6.5%5.5%9.0%7.7%6.2%5.1%5.0%4.7%4.7%3.0%-
総資産回転率0.9回0.9回0.9回0.8回0.9回0.8回0.9回0.9回0.9回0.8回0.8回0.9回-
財務レバレッジ2.7倍2.7倍2.5倍2.5倍2.5倍2.5倍2.5倍2.5倍2.5倍2.6倍2.6倍2.5倍-
実質ROE12.6%11.9%11.5%11.6%11.0%10.5%10.5%10.6%6.1%6.1%5.9%6.2%-
ROIC6.6%6.8%6.6%6.7%5.9%5.7%5.9%6.0%5.4%5.2%5.2%5.4%-
ROA4.7%4.8%4.7%4.6%4.4%4.3%4.4%4.4%2.5%2.5%2.4%2.5%-
β0.880.880.850.961.061.071.081.131.151.151.100.95-
βの決定係数(R2)0.300.370.350.420.450.450.500.540.580.580.590.54-
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98,13977,08094,06496,417111,515100,892102,603100,59294,923111,726117,965113,500-
売上債権160,988160,988176,173172,902177,776180,309190,103180,369194,241178,015178,015167,194-
棚卸資産132,153132,153138,502142,182136,262146,133153,450155,088145,880151,174151,174143,099-
有価証券20,00010,0003,00014,00027,00020,00036,00033,00036,00036,00036,00036,000-
前払金-------------
繰延税金資産---11,874---------
貸倒引当金-611-592-570-578-675-582-675-582-536-382-345-523-
流動資産473,640459,465475,478489,733520,455546,488522,713523,854511,621525,474527,978505,323-
固定資産
建物・構築物62,01060,24660,59360,10661,43263,96262,67764,15962,06663,08763,62965,037-
機械・運搬具95,66295,58895,36594,86994,387100,430100,658105,908103,895108,551109,503110,956-
土地---42,091---43,334---43,174-
建設仮勘定---20,608---30,827---42,226-
有形固定資産240,943238,654240,134240,289245,800256,411257,297267,887276,167283,006289,637296,081-
のれん31,58231,42430,38027,19127,44440,00337,55632,84530,48036,31535,63223,813-
無形固定資産66,80966,35064,57060,34060,71773,49769,60569,51065,26370,93070,13760,387-
投資有価証券120,863122,841130,869127,721130,565103,11597,96796,17985,23788,08292,46976,633-
繰延税金資産---3,017---7,521-----
貸倒引当金-2,102-2,126-2,111-2,101-1,991-1,972-1,444-1,670-1,637-1,620-1,616-1,604-
敷金および保証金-------------
投資その他の資産190,899189,337198,391195,821201,088176,375166,134159,403149,535151,264154,128142,432-
固定資産498,652494,342503,096496,451507,605506,283493,036496,800490,964505,200513,902498,900-
総資産972,292953,807978,574986,1841,028,0601,052,7721,015,7491,020,6541,002,5861,030,6741,041,8801,004,223-
 
負債
有利子負債合計384,407384,407339,414345,816342,664383,673398,968372,342367,549397,086397,086369,677-
仕入債務81,87581,87586,51289,97592,38298,70295,73994,95593,49981,21381,21380,068-
前受金-------------
未払法人税等1,9203,8553,1055,1103,2666,3306,2416,8793,3334,8443,3915,464-
繰延税金負債(固定)---9,223---3,539-----
負債596,612555,964567,289577,947604,653619,264586,041593,442585,986610,298606,493592,814-
 
純資産
資本金70,81670,81670,81671,83271,83371,83371,83371,83371,83371,83371,83371,833-
資本剰余金103,669103,670103,670104,685104,486103,902103,893104,256104,253103,742103,690103,692-
利益剰余金176,155191,943196,583202,413215,960230,386231,478235,324238,419248,084251,967247,055-
自己株式-247-236-232-166-151-13,465-13,469-13,412-13,396-13,381-13,359-13,131-
非支配株主持分12,65313,81614,08714,45214,26415,24714,96115,59515,36116,12816,76816,475-
純資産375,680397,842411,285408,237423,407433,508429,708427,212416,599420,376435,388411,409-
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19,55942,58060,16467,89426,09243,34454,28660,36015,05928,97743,96841,557-
減価償却費-------------
のれん償却額-------------
減損損失0169216691523,889122,0371,6982903478,695-
受取利息及び受取配当金--1,697--3,002--1,805--3,293--1,341--2,372-
売上債権の増減額--7,554--10,813--8,086--13,751-13,337-19,875-
棚卸資産の増減額--12,749--11,295--14,044--8,187--6,379--4,460-
仕入債務の増減額-5,791-12,307-1,613--1,343--8,616--9,465-
営業CF-25,785-80,091-33,915-80,899-41,575-94,214-
投資CF
有価証券の取得0-1840-5,1600-1,7530-3,6200-4,9590-5,700-
有価証券の売却・償還0432068903,727040,35707,95409,250-
固定資産の購入0-23,1390-46,0350-27,8340-58,9270-35,7180-70,321-
固定資産の売却09,711010,143028203100450261-
貸付け----868----532----1,277-
貸付金の回収---300---93---1,273-
投資CF--20,860--51,307--42,276--41,288--48,667--67,922-
財務CF
短期借入金の純増減額-8,858-10,618-61,087-31,433-13,024--2,769-
長期借入れ-422-16,051-340-25,918-5,940-16,675-
長期借入金の返済--40,334--45,831--16,001--27,858--888--6,735-
社債の発行---------15,000-15,000-
社債の償還--------11,910----15,000-
自己株式の取得------20,008--20,039--6--12-
自己株式の売却-------------
配当金の支払--5,901--11,804--5,935--11,688--7,672--13,427-
財務CF--37,288--31,485-18,814--15,353-24,287--8,059-
換算差額-1,698-1,309-886--184--3,246--2,438-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額-------62,800---68,600-
研究開発費-17,632-35,926-16,734-36,422-16,387-34,482-
発行済株式総数196,745,748株196,757,500株196,763,073株197,820,227株197,833,153株191,790,450株191,787,011株191,812,131株191,819,568株191,825,995株191,835,965株191,940,423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---19,711人---20,671人---20,075人-
売上/従業員(千円)38,42538,42538,42538,42542,36142,36142,36142,36142,98742,98742,98742,528-
営利/従業員(千円)2,9292,9292,9292,9293,5423,5423,5423,5422,9032,9032,9032,800-