通期売上(百万円)
売上5y CAGR・予想:-2.4 %
通期利益(百万円)
営利5y CAGR・実績:-4.0 %
純利5y CAGR・予想:-20.4 %
P/L
2018.32019.32020.32021.3E
売上2,204,8582,388,8482,214,6331,920,000
前期比108.8%108.3%92.7%86.7%
売上原価1,748,0171,935,4861,776,276-
売上総利益456,841453,362438,357-
%20.7%19.0%19.8%-
販管費300,377311,893307,171-
営業利益156,464141,469131,18670,000
前期比106.5%90.4%92.7%53.4%
%7.1%5.9%5.9%3.6%
受取利息および受取配当金5,2226,8837,024-
持分法による投資利益9,2219,619--
営業外収益19,05021,89711,237-
支払利息5,0917,1617,235-
持分法による投資損失--10,805-
営業外費用23,20928,84839,068-
経常利益152,305134,518103,355-
固定資産売却益----
投資有価証券売却益3,5321,8964,561-
特別利益4,54722,3427,691-
固定資産売却損----
投資有価証券売却損872,5212,178-
減損損失3,94418,4147,569-
特別損失20,24029,44117,000-
税引前利益136,612127,41994,046-
法人税等33,43239,63129,131-
%24.5%31.1%31.0%-
当期純利益103,18087,78864,915-
非支配株主に帰属する当期純利益7,2658,4159,190-
親会社株主に帰属する当期純利益95,91579,37355,72540,000
前期比96.5%82.8%70.2%71.8%
%4.4%3.3%2.5%2.1%
 
EBITDA261,144254,779249,510-
EPS60.0円49.6円34.8円45.0円
BPS681.9円707.0円683.6円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)2,220,0002,400,0002,530,0001,920,000
対実績比99.3%99.5%87.5%-
営業利益(期初予)165,000165,000160,00070,000
対実績比94.8%85.7%82.0%-
純利益(期初予)100,00098,00093,00040,000
対実績比95.9%81.0%59.9%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価1,007円707円469円-
企業価値2,309,4851,941,7741,490,235-
時価総額1,609,8441,130,947750,376-
純有利子負債671,695803,915739,859-
PER(会予)16.1倍12.6倍10.4倍-
PBR1.4倍1.0倍0.7倍-
PER × PBR23.1倍12.6倍7.2倍-
EV/EBITDA(会予)8.8倍7.9倍6.0倍-
PSR(会予)0.7倍0.5倍0.3倍-
PCFR(会予)8.1倍5.8倍3.9倍-
配当金15.0円16.0円16.0円16.0円
配当利回り1.4%2.1%3.4%-
配当性向25.0%32.3%45.9%-
自己資本配当率2.2%2.3%2.3%-
ROE8.8%7.0%5.1%-
純利益率(再掲)4.4%3.3%2.5%-
総資産回転率0.9回0.9回0.8回-
財務レバレッジ2.4倍2.5倍2.4倍-
実質ROE8.6%6.9%5.0%-
ROIC6.5%4.8%5.1%-
ROA3.7%2.8%2.1%-
β0.670.660.80-
βの決定係数(R2)0.280.270.42-
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141,101168,507173,698-
売上債権489,549531,058483,761-
棚卸資産439,673419,527393,655-
有価証券----
前払金----
繰延税金資産25,641---
貸倒引当金-2,037-2,280-2,569-
流動資産1,127,0251,191,3291,128,452-
固定資産
建物・構築物631,681651,084666,509-
機械・運搬具1,902,0031,989,5531,994,262-
土地78,37077,68772,566-
建設仮勘定120,514143,847134,496-
有形固定資産927,029996,8761,006,509-
のれん40,14685,71271,950-
無形固定資産68,647171,249150,691-
投資有価証券353,091333,670284,696-
繰延税金資産21,53921,978--
貸倒引当金-2,961-2,781-2,491-
敷金および保証金----
投資その他の資産453,209428,897365,035-
固定資産1,448,8851,597,0221,522,235-
総資産2,575,9102,788,3512,650,687-
 
負債
有利子負債合計812,796972,422913,557-
仕入債務245,550240,554212,323-
前受金----
未払法人税等13,96613,57811,185-
繰延税金負債(固定)31,38748,758--
負債1,406,7221,574,4071,471,115-
 
純資産
資本金147,873147,873147,873-
資本剰余金117,572117,760118,062-
利益剰余金763,504817,263849,268-
自己株式-20,631-20,358-20,308-
非支配株主持分77,15981,57384,222-
純資産1,169,1881,213,9441,179,572-
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136,612127,41994,046-
減価償却費95,815101,711107,382-
のれん償却額8,86511,59910,942-
減損損失3,94418,4147,569-
受取利息及び受取配当金-5,222-6,883-7,024-
売上債権の増減額-61,969-33,58237,191-
棚卸資産の増減額-31,49228,42718,116-
仕入債務の増減額11,594-11,843-23,582-
営業CF129,180176,239225,767-
投資CF
有価証券の取得-67,274-4,131-7,317-
有価証券の売却・償還13,4218,3878,372-
固定資産の購入-147,925-169,630-140,147-
固定資産の売却2,99619,2546,018-
貸付け-437-1,200-3,436-
貸付金の回収217442172-
投資CF-186,685-260,247-142,364-
財務CF
短期借入金の純増減額3,52027,404-40,024-
長期借入れ78,912134,53087,026-
長期借入金の返済-111,413-65,350-41,581-
社債の発行100,000100,000--
社債の償還--1,492-50,000-
自己株式の取得----
自己株式の売却----
配当金の支払-22,400-25,602-25,612-
財務CF61,773118,891-67,594-
換算差額-1,924-327-5,206-
その他
2018.32019.32020.32021.3E
設備投資額153,324172,696147,500-
研究開発費-66,40066,900-
発行済株式総数1,599,446,969株1,599,871,341株1,599,949,605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45,762人48,320人48,031人-
売上/従業員(千円)48,18149,43846,108-
営利/従業員(千円)3,4192,9282,731-
四半期売上(百万円)
売上5y CAGR・予想:-2.4 %
四半期利益(百万円)
営利5y CAGR・実績:-4.0 %
純利5y CAGR・予想:-20.4 %
P/L
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上1,048,2181,648,8442,204,858550,7781,191,2121,808,3302,388,848513,2181,122,3591,681,4222,214,633397,6311,840,000
前期比109.5%110.5%108.8%108.4%113.6%109.7%108.3%93.2%94.2%93.0%92.7%77.5%83.1%
売上原価825,0731,305,0531,748,017438,916957,8461,463,5311,935,486403,524898,2041,347,0031,776,276315,199-
売上総利益223,145343,791456,841111,862233,366344,799453,362109,694224,155334,419438,35782,432-
%21.3%20.9%20.7%20.3%19.6%19.1%19.0%21.4%20.0%19.9%19.8%20.7%-
販管費145,085220,435300,37777,991155,679232,439311,89374,584152,507229,968307,17169,386-
営業利益78,060123,356156,46433,87177,687112,360141,46933,52771,648104,451131,1869,454-
前期比102.3%108.0%106.5%87.2%99.5%91.1%90.4%99.0%92.2%93.0%92.7%28.2%-
%7.4%7.5%7.1%6.1%6.5%6.2%5.9%6.5%6.4%6.2%5.9%2.4%0.0%
受取利息および受取配当金2,6734,6845,2222,8063,7686,0886,8832,8413,9066,4387,024--
持分法による投資利益5,4027,2249,2212,3475,9429,0539,6192,9314,5596,610-3,019-
営業外収益10,94715,85019,0507,49312,61019,14921,8976,49411,30916,01911,237--
支払利息2,5533,8005,0911,4173,2425,2337,1611,8663,7875,5537,235--
持分法による投資損失----------10,805--
営業外費用12,24817,64923,2096,19812,90220,08428,8487,10813,60019,46539,068--
経常利益76,759121,557152,30535,16677,395111,425134,51836,43469,357101,005103,35512,989-
固定資産売却益-------------
投資有価証券売却益4572,6753,5323315751,6341,89641,6904,5014,561--
特別利益7043,4054,54735368617,15222,342481,8194,6637,691--
固定資産売却損-------------
投資有価証券売却損--87---2,521---2,178--
減損損失-3,4303,944-3171,20618,414-1,2311,5407,569--
特別損失4,66213,01820,2408544,1226,87929,4411,1253,6046,01517,000--
税引前利益72,801111,944136,61234,66573,959121,698127,41936,43467,57299,65394,04612,989-
法人税等21,75828,69133,4329,88621,08433,89039,6318,95417,68826,79629,1314,513-
%29.9%25.6%24.5%28.5%28.5%27.8%31.1%24.6%26.2%26.9%31.0%34.7%-
当期純利益51,04383,253103,18024,77952,87587,80887,78827,48049,88472,85764,9158,476-
非支配株主に帰属する当期純利益3,5195,6257,2651,9454,3716,4738,4151,8994,2266,6839,190-981-
親会社株主に帰属する当期純利益47,52477,62895,91522,83448,50481,33579,37325,58145,65866,17455,7259,45740,000
前期比89.0%101.0%96.5%87.5%102.1%104.8%82.8%112.0%94.1%81.4%70.2%37.0%71.8%
%4.5%4.7%4.4%4.1%4.1%4.5%3.3%5.0%4.1%3.9%2.5%2.4%2.2%
 
EBITDA128,111123,356261,14433,871131,598112,360254,77962,176130,309104,451249,51037,901-
EPS60.0円60.0円60.0円49.6円49.6円49.6円49.6円34.8円34.8円34.8円34.8円34.8円25.0円
BPS673.0円702.5円681.9円691.0円723.0円706.3円707.0円693.5円698.0円724.2円683.6円700.2円-
期初会社予想
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上高(期初予)2,220,0002,220,0002,220,0002,400,0002,400,0002,400,0002,400,0002,530,0002,530,0002,530,0002,530,0001,920,0001,840,000
対実績比47.2%74.3%99.3%22.9%49.6%75.3%99.5%20.3%44.4%66.5%87.5%20.7%-
営業利益(期初予)165,000165,000165,000165,000165,000165,000165,000160,000160,000160,000160,00070,000-
対実績比47.3%74.8%94.8%20.5%47.1%68.1%85.7%21.0%44.8%65.3%82.0%13.5%-
純利益(期初予)100,000100,000100,00098,00098,00098,00098,00093,00093,00093,00093,00040,00040,000
対実績比47.5%77.6%95.9%23.3%49.5%83.0%81.0%27.5%49.1%71.2%59.9%23.6%-
配当
ROEデュポン分解
β
マルチプル
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
株価1,092円1,063円1,007円874円854円772円707円819円802円741円469円508円-
企業価値2,351,1002,371,7392,309,4852,069,6122,053,3162,068,6151,941,7742,114,5302,064,7381,967,1411,490,2351,569,011-
時価総額1,745,7981,699,4141,609,8441,397,9171,365,4891,235,0991,130,9471,310,6151,283,3201,185,723750,376812,216-
純有利子負債672,325699,641671,695687,827833,516810,827803,915812,120781,418771,949739,859756,795-
PER(会予)17.5倍17.0倍16.1倍14.3倍13.9倍12.6倍12.6倍14.1倍13.8倍14.3倍10.4倍20.3倍-
PBR1.7倍1.6倍1.4倍1.3倍1.2倍1.1倍1.0倍1.2倍1.1倍1.1倍0.7倍0.7倍-
PER × PBR29.3倍26.8倍23.1倍18.3倍17.2倍13.5倍12.6倍16.3倍15.9倍15.2倍7.2倍14.7倍-
EV/EBITDA(会予)9.0倍9.0倍8.8倍7.7倍7.6倍7.8倍7.9倍7.7倍7.6倍7.6倍6.0倍8.3倍-
PSR(会予)0.8倍0.8倍0.7倍0.6倍0.6倍0.5倍0.5倍0.5倍0.5倍0.5倍0.3倍0.4倍-
PCFR(会予)8.8倍8.6倍8.1倍6.9倍6.7倍6.1倍5.8倍6.4倍6.2倍6.0倍3.9倍5.1倍-
配当金--15.0円---16.0円---16.0円-9.0円
配当利回り1.3%1.3%1.4%1.7%1.8%1.9%2.1%2.0%2.0%2.2%3.4%3.2%-
配当性向--25.0%---32.3%---45.9%--
自己資本配当率2.2%2.1%2.2%2.3%2.2%2.3%2.3%2.3%2.3%2.2%2.3%2.3%-
ROE8.9%8.5%8.8%7.2%6.9%7.0%7.0%5.0%5.0%4.8%5.1%5.0%-
純利益率(再掲)4.5%4.7%4.4%4.1%4.1%4.5%3.3%5.0%4.1%3.9%2.5%2.4%-
総資産回転率0.9回0.8回0.9回0.9回0.8回0.9回0.9回0.8回0.8回0.8回0.8回0.8回-
財務レバレッジ2.4倍2.4倍2.4倍2.4倍2.5倍2.5倍2.5倍2.5倍2.4倍2.4倍2.4倍2.4倍-
実質ROE8.7%8.4%8.6%7.0%6.7%6.9%6.9%4.9%4.9%4.7%5.0%4.9%-
ROIC6.6%6.3%6.5%5.3%4.7%4.9%4.8%4.9%5.0%4.9%5.1%4.8%-
ROA3.8%3.6%3.7%3.1%2.8%2.9%2.8%2.0%2.1%2.0%2.1%2.0%-
β0.680.660.670.690.690.670.660.680.690.610.800.81-
βの決定係数(R2)0.280.260.280.260.250.290.270.280.290.290.420.45-
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.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
流動資産
現金127,750143,964141,101144,857158,736154,721168,507169,224142,013164,833173,698231,100-
売上債権447,890508,704489,549467,139543,971524,912531,058494,883498,744514,406483,761420,397-
棚卸資産448,936440,266439,673472,395459,827454,706419,527432,483412,660425,969393,655423,826-
有価証券-----------15,585-
前払金-------------
繰延税金資産--25,641----------
貸倒引当金-2,107-2,368-2,037-2,235-2,604-2,251-2,280-2,208-2,211-2,365-2,569--
流動資産1,111,8171,179,8621,127,0251,147,7051,224,7921,203,2711,191,3291,178,2951,133,3701,185,3481,128,4521,137,953-
固定資産
建物・構築物260,303279,769631,681280,596285,791281,184651,084281,407279,131294,738666,509--
機械・運搬具410,146423,2461,902,003431,028449,467432,9681,989,553454,070435,716454,8711,994,262--
土地80,77882,38578,37078,46379,45377,42177,68776,77375,90474,69672,566--
建設仮勘定136,313130,521120,514121,214128,850148,882143,847134,907151,358143,516134,496--
有形固定資産914,730943,673927,029940,605973,514970,934996,876999,354993,4501,020,4361,006,509971,208-
のれん44,01942,54540,14640,399154,76497,96985,71281,51276,56076,18271,95082,791-
無形固定資産74,26172,75368,64769,329183,486190,505171,249164,326155,512156,725150,69177,681-
投資有価証券352,194366,065353,091343,294350,287314,395333,670328,356328,421334,460284,696--
繰延税金資産--21,539---21,978----14,265-
貸倒引当金-3,282-3,138-2,961-2,948-2,978-2,784-2,781-2,740-2,682-2,758-2,491--
敷金および保証金-------------
投資その他の資産446,672462,138453,209443,366452,944416,332428,897413,664415,993423,899365,035--
固定資産1,435,6631,478,5641,448,8851,453,3001,609,9441,577,7711,597,0221,577,3441,564,9551,601,0601,522,2351,586,303-
総資産2,547,4802,658,4262,575,9102,601,0052,834,7362,781,0422,788,3512,755,6392,698,3252,786,4082,650,6872,724,256-
 
負債
有利子負債合計800,075843,605812,796832,684992,252965,548972,422981,344923,431936,782913,557987,895-
仕入債務226,100238,871245,550245,104253,452249,134240,554226,845218,763224,066212,323243,389-
前受金-------------
未払法人税等16,79413,11013,96612,10013,94312,33513,57811,09814,70012,24311,1857,897-
繰延税金負債(固定)--31,387---48,758----32,125-
負債1,390,2351,451,0091,406,7221,416,7421,595,9431,569,6541,574,4071,564,0301,498,8201,541,9811,471,1151,520,548-
 
純資産
資本金147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873-
資本剰余金121,695121,922117,572117,589117,590117,602117,760117,968118,067118,064118,062121,765-
利益剰余金726,316745,217763,504773,529799,198819,223817,263828,958852,009859,718849,268858,786-
自己株式-20,629-20,630-20,631-20,359-20,360-20,360-20,358-20,307-20,307-20,308-20,308-20,001-
非支配株主持分79,63982,59077,15977,60480,84780,20281,57380,75581,33484,23884,22283,062-
純資産1,157,2451,207,4171,169,1881,184,2631,238,7931,211,3881,213,9441,191,6091,199,5051,244,4271,179,5721,203,708-
キャッシュフロー(百万円)
C/S
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
営業CF
税金等調整前当期純利益72,801111,944136,61234,66573,959121,698127,41936,43467,57299,65394,04612,989-
減価償却費45,680-95,815-48,940-101,71128,64953,148-107,38228,447-
のれん償却額4,371-8,865-4,971-11,599-5,513-10,942--
減損損失-3,4303,944-3171,20618,414-1,2311,5407,569--
受取利息及び受取配当金-2,673--5,222--3,768--6,883-1,631-3,906--7,024-1,401-
売上債権の増減額-16,110--61,969--39,946--33,58228,79320,616-37,19178,467-
棚卸資産の増減額-34,306--31,492--5,776-28,427-16,545-2,297-18,116-17,354-
仕入債務の増減額-6,784-11,594--314--11,843-12,919-13,730--23,582-34,828-
営業CF49,097-129,180-57,095-176,23948,468105,836-225,76759,483-
投資CF
有価証券の取得-64,6360-67,2740-1,7900-4,1310-1,2780-7,3170-
有価証券の売却・償還4,355013,42106,72308,38702,19208,3720-
固定資産の購入-74,6160-147,9250-79,7390-169,630-35,957-69,9480-140,147-33,880-
固定資産の売却1,18902,99602,468019,25412116806,018542-
貸付け---437----1,200----3,436--
貸付金の回収--217---442---172--
投資CF-128,471--186,685--185,452--260,247-40,271-72,696--142,364-34,268-
財務CF
短期借入金の純増減額2,510-3,520--3,307-27,404-42,987-39,707--40,02454,098-
長期借入れ44,719-78,912-71,228-134,530-76,997-87,026--
長期借入金の返済-86,373--111,413--35,180--65,350--20,580--41,581--
社債の発行100,000-100,000-100,000-100,000------
社債の償還-----1,492--1,492--50,000--50,000--
自己株式の取得-------------
自己株式の売却-------------
配当金の支払-11,194--22,400--12,796--25,602--12,801--25,612--
財務CF66,071-61,773-142,868-118,8912,083-45,257--67,59422,361-
換算差額630--1,924-2,392--327-3,939-5,361--5,206-179-
その他
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
設備投資額74,6160153,324079,7390172,69635,95769,9480147,50033,880-
研究開発費------66,400---66,900--
発行済株式総数1,599,448,266株1,599,447,461株1,599,446,969株1,599,869,704株1,599,869,227株1,599,868,750株1,599,871,341株1,599,950,966株1,599,950,067株1,599,949,878株1,599,949,605株1,600,426,496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.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
従業員数--45,762人---48,320人---48,031人--
売上/従業員(千円)--48,181---49,438---46,108--
営利/従業員(千円)--3,419---2,928---2,731--
四半期売上(百万円)
売上5y CAGR・予想:-2.4 %
四半期利益(百万円)
営利5y CAGR・実績:-4.0 %
純利5y CAGR・予想:-20.4 %
P/L
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上540,130600,626556,014550,778640,434617,118580,518513,218609,141559,063533,211397,6311,840,000
前期比112.8%112.2%104.1%108.4%118.6%102.7%104.4%93.2%95.1%90.6%91.9%77.5%83.1%
売上原価427,371479,980442,964438,916518,930505,685471,955403,524494,680448,799429,273315,199-
売上総利益112,759120,646113,050111,862121,504111,433108,563109,694114,461110,264103,93882,432-
%20.9%20.1%20.3%20.3%19.0%18.1%18.7%21.4%18.8%19.7%19.5%20.7%-
販管費73,55475,35079,94277,99177,68876,76079,45474,58477,92377,46177,20369,386-
営業利益39,20545,29633,10833,87143,81634,67329,10933,52738,12132,80326,7359,454-
前期比111.2%119.4%101.3%87.2%111.8%76.5%87.9%99.0%87.0%94.6%91.8%28.2%-
%7.3%7.5%6.0%6.1%6.8%5.6%5.0%6.5%6.3%5.9%5.0%2.4%0.0%
受取利息および受取配当金0002,8060002,841000--
持分法による投資利益2,5311,8221,9972,3473,5953,1115662,9311,6282,051-6,6103,019-
営業外収益4,2914,9033,2007,4935,1176,5392,7486,4944,8154,710-4,782--
支払利息1,2951,2471,2911,4171,8251,9911,9281,8661,9211,7661,682--
持分法による投資損失000-000-0010,805--
営業外費用6,4725,4015,5606,1986,7047,1828,7647,1086,4925,86519,603--
経常利益37,02444,79830,74835,16642,22934,03023,09336,43432,92331,6482,35012,989-
固定資産売却益000-000-000--
投資有価証券売却益4342,2188573312441,05926241,6862,81160--
特別利益5272,7011,14235333316,4665,190481,7712,8443,028--
固定資産売却損000-000-000--
投資有価証券売却損0087-002,521-002,178--
減損損失03,430514-31788917,208-1,2313096,029--
特別損失3,6458,3567,2228543,2682,75722,5621,1252,4792,41110,985--
税引前利益33,90639,14324,66834,66539,29447,7395,72136,43431,13832,081-5,60712,989-
法人税等10,6496,9334,7419,88611,19812,8065,7418,9548,7349,1082,3354,513-
%31.4%17.7%19.2%28.5%28.5%26.8%100.3%24.6%28.0%28.4%-41.6%34.7%-
当期純利益23,25732,21019,92724,77928,09634,933-2027,48022,40422,973-7,9428,476-
非支配株主に帰属する当期純利益1,8302,1061,6401,9452,4262,1021,9421,8992,3272,4572,507-981-
親会社株主に帰属する当期純利益21,42730,10418,28722,83425,67032,831-1,96225,58120,07720,516-10,4499,45740,000
前期比90.4%128.3%81.1%87.5%119.8%109.1%-10.7%112.0%78.2%62.5%532.6%37.0%71.8%
%4.0%5.0%3.3%4.1%4.0%5.3%-0.3%5.0%3.3%3.7%-2.0%2.4%2.2%
 
EBITDA128,111123,356261,14433,871131,598112,360254,77962,176130,309104,451249,51037,901-
EPS60.0円60.0円60.0円49.6円49.6円49.6円49.6円34.8円34.8円34.8円34.8円34.8円25.0円
BPS673.0円702.5円681.9円691.0円723.0円706.3円707.0円693.5円698.0円724.2円683.6円700.2円-
期初会社予想
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上高(期初予)2,220,0002,220,0002,220,0002,400,0002,400,0002,400,0002,400,0002,530,0002,530,0002,530,0002,530,0001,920,0001,840,000
対実績比47.2%74.3%99.3%22.9%49.6%75.3%99.5%20.3%44.4%66.5%87.5%20.7%-
営業利益(期初予)165,000165,000165,000165,000165,000165,000165,000160,000160,000160,000160,00070,000-
対実績比47.3%74.8%94.8%20.5%47.1%68.1%85.7%21.0%44.8%65.3%82.0%13.5%-
純利益(期初予)100,000100,000100,00098,00098,00098,00098,00093,00093,00093,00093,00040,00040,000
対実績比47.5%77.6%95.9%23.3%49.5%83.0%81.0%27.5%49.1%71.2%59.9%23.6%-
配当
ROEデュポン分解
β
マルチプル
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
株価1,092円1,063円1,007円874円854円772円707円819円802円741円469円508円-
企業価値2,351,1002,371,7392,309,4852,069,6122,053,3162,068,6151,941,7742,114,5302,064,7381,967,1411,490,2351,569,011-
時価総額1,745,7981,699,4141,609,8441,397,9171,365,4891,235,0991,130,9471,310,6151,283,3201,185,723750,376812,216-
純有利子負債672,325699,641671,695687,827833,516810,827803,915812,120781,418771,949739,859756,795-
PER(会予)17.5倍17.0倍16.1倍14.3倍13.9倍12.6倍12.6倍14.1倍13.8倍14.3倍10.4倍20.3倍-
PBR1.7倍1.6倍1.4倍1.3倍1.2倍1.1倍1.0倍1.2倍1.1倍1.1倍0.7倍0.7倍-
PER × PBR29.3倍26.8倍23.1倍18.3倍17.2倍13.5倍12.6倍16.3倍15.9倍15.2倍7.2倍14.7倍-
EV/EBITDA(会予)9.0倍9.0倍8.8倍7.7倍7.6倍7.8倍7.9倍7.7倍7.6倍7.6倍6.0倍8.3倍-
PSR(会予)0.8倍0.8倍0.7倍0.6倍0.6倍0.5倍0.5倍0.5倍0.5倍0.5倍0.3倍0.4倍-
PCFR(会予)8.8倍8.6倍8.1倍6.9倍6.7倍6.1倍5.8倍6.4倍6.2倍6.0倍3.9倍5.1倍-
配当金--15.0円---16.0円---16.0円-9.0円
配当利回り1.3%1.3%1.4%1.7%1.8%1.9%2.1%2.0%2.0%2.2%3.4%3.2%-
配当性向--25.0%---32.3%---45.9%--
自己資本配当率2.2%2.1%2.2%2.3%2.2%2.3%2.3%2.3%2.3%2.2%2.3%2.3%-
ROE8.9%8.5%8.8%7.2%6.9%7.0%7.0%5.0%5.0%4.8%5.1%5.0%-
純利益率(再掲)4.5%4.7%4.4%4.1%4.1%4.5%3.3%5.0%4.1%3.9%2.5%2.4%-
総資産回転率0.9回0.8回0.9回0.9回0.8回0.9回0.9回0.8回0.8回0.8回0.8回0.8回-
財務レバレッジ2.4倍2.4倍2.4倍2.4倍2.5倍2.5倍2.5倍2.5倍2.4倍2.4倍2.4倍2.4倍-
実質ROE8.7%8.4%8.6%7.0%6.7%6.9%6.9%4.9%4.9%4.7%5.0%4.9%-
ROIC6.6%6.3%6.5%5.3%4.7%4.9%4.8%4.9%5.0%4.9%5.1%4.8%-
ROA3.8%3.6%3.7%3.1%2.8%2.9%2.8%2.0%2.1%2.0%2.1%2.0%-
β0.680.660.670.690.690.670.660.680.690.610.800.81-
βの決定係数(R2)0.280.260.280.260.250.290.270.280.290.290.420.45-
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.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
流動資産
現金127,750143,964141,101144,857158,736154,721168,507169,224142,013164,833173,698231,100-
売上債権447,890508,704489,549467,139543,971524,912531,058494,883498,744514,406483,761420,397-
棚卸資産448,936440,266439,673472,395459,827454,706419,527432,483412,660425,969393,655423,826-
有価証券-----------15,585-
前払金-------------
繰延税金資産--25,641----------
貸倒引当金-2,107-2,368-2,037-2,235-2,604-2,251-2,280-2,208-2,211-2,365-2,569--
流動資産1,111,8171,179,8621,127,0251,147,7051,224,7921,203,2711,191,3291,178,2951,133,3701,185,3481,128,4521,137,953-
固定資産
建物・構築物260,303279,769631,681280,596285,791281,184651,084281,407279,131294,738666,509--
機械・運搬具410,146423,2461,902,003431,028449,467432,9681,989,553454,070435,716454,8711,994,262--
土地80,77882,38578,37078,46379,45377,42177,68776,77375,90474,69672,566--
建設仮勘定136,313130,521120,514121,214128,850148,882143,847134,907151,358143,516134,496--
有形固定資産914,730943,673927,029940,605973,514970,934996,876999,354993,4501,020,4361,006,509971,208-
のれん44,01942,54540,14640,399154,76497,96985,71281,51276,56076,18271,95082,791-
無形固定資産74,26172,75368,64769,329183,486190,505171,249164,326155,512156,725150,69177,681-
投資有価証券352,194366,065353,091343,294350,287314,395333,670328,356328,421334,460284,696--
繰延税金資産--21,539---21,978----14,265-
貸倒引当金-3,282-3,138-2,961-2,948-2,978-2,784-2,781-2,740-2,682-2,758-2,491--
敷金および保証金-------------
投資その他の資産446,672462,138453,209443,366452,944416,332428,897413,664415,993423,899365,035--
固定資産1,435,6631,478,5641,448,8851,453,3001,609,9441,577,7711,597,0221,577,3441,564,9551,601,0601,522,2351,586,303-
総資産2,547,4802,658,4262,575,9102,601,0052,834,7362,781,0422,788,3512,755,6392,698,3252,786,4082,650,6872,724,256-
 
負債
有利子負債合計800,075843,605812,796832,684992,252965,548972,422981,344923,431936,782913,557987,895-
仕入債務226,100238,871245,550245,104253,452249,134240,554226,845218,763224,066212,323243,389-
前受金-------------
未払法人税等16,79413,11013,96612,10013,94312,33513,57811,09814,70012,24311,1857,897-
繰延税金負債(固定)--31,387---48,758----32,125-
負債1,390,2351,451,0091,406,7221,416,7421,595,9431,569,6541,574,4071,564,0301,498,8201,541,9811,471,1151,520,548-
 
純資産
資本金147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873-
資本剰余金121,695121,922117,572117,589117,590117,602117,760117,968118,067118,064118,062121,765-
利益剰余金726,316745,217763,504773,529799,198819,223817,263828,958852,009859,718849,268858,786-
自己株式-20,629-20,630-20,631-20,359-20,360-20,360-20,358-20,307-20,307-20,308-20,308-20,001-
非支配株主持分79,63982,59077,15977,60480,84780,20281,57380,75581,33484,23884,22283,062-
純資産1,157,2451,207,4171,169,1881,184,2631,238,7931,211,3881,213,9441,191,6091,199,5051,244,4271,179,5721,203,708-
キャッシュフロー(百万円)
C/S
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
営業CF
税金等調整前当期純利益72,801111,944136,61234,66573,959121,698127,41936,43467,57299,65394,04612,989-
減価償却費45,680-95,815-48,940-101,71128,64953,148-107,38228,447-
のれん償却額4,371-8,865-4,971-11,599-5,513-10,942--
減損損失03,430514-31788917,208-1,2313096,029--
受取利息及び受取配当金-2,673--5,222--3,768--6,883-1,631-3,906--7,024-1,401-
売上債権の増減額-16,110--61,969--39,946--33,58228,79320,616-37,19178,467-
棚卸資産の増減額-34,306--31,492--5,776-28,427-16,545-2,297-18,116-17,354-
仕入債務の増減額-6,784-11,594--314--11,843-12,919-13,730--23,582-34,828-
営業CF49,097-129,180-57,095-176,23948,468105,836-225,76759,483-
投資CF
有価証券の取得-64,6360-67,2740-1,7900-4,1310-1,2780-7,3170-
有価証券の売却・償還4,355013,42106,72308,38702,19208,3720-
固定資産の購入-74,6160-147,9250-79,7390-169,630-35,957-69,9480-140,147-33,880-
固定資産の売却1,18902,99602,468019,25412116806,018542-
貸付け---437----1,200----3,436--
貸付金の回収--217---442---172--
投資CF-128,471--186,685--185,452--260,247-40,271-72,696--142,364-34,268-
財務CF
短期借入金の純増減額2,510-3,520--3,307-27,404-42,987-39,707--40,02454,098-
長期借入れ44,719-78,912-71,228-134,530-76,997-87,026--
長期借入金の返済-86,373--111,413--35,180--65,350--20,580--41,581--
社債の発行100,000-100,000-100,000-100,000------
社債の償還-----1,492--1,492--50,000--50,000--
自己株式の取得-------------
自己株式の売却-------------
配当金の支払-11,194--22,400--12,796--25,602--12,801--25,612--
財務CF66,071-61,773-142,868-118,8912,083-45,257--67,59422,361-
換算差額630--1,924-2,392--327-3,939-5,361--5,206-179-
その他
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
設備投資額74,6160153,324079,7390172,69635,95769,9480147,50033,880-
研究開発費------66,400---66,900--
発行済株式総数1,599,448,266株1,599,447,461株1,599,446,969株1,599,869,704株1,599,869,227株1,599,868,750株1,599,871,341株1,599,950,966株1,599,950,067株1,599,949,878株1,599,949,605株1,600,426,496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.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
従業員数--45,762人---48,320人---48,031人--
売上/従業員(千円)--48,181---49,438---46,108--
営利/従業員(千円)--3,419---2,928---2,731--