通期売上(百万円)
売上5y CAGR・予想:-1.3 %
通期利益(百万円)
営利5y CAGR・予想:-16.9 %
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-
%23.8%24.5%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%
%4.9%4.4%2.5%2.1%
 
EBITDA244,446261,144249,510248,324
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699,641810,827739,859-
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508,704524,912483,761-
棚卸資産440,266454,706393,655-
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1,152,6661,191,3291,128,452-
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12,90221,978--
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444,572428,897365,035-
固定資産1,440,2481,597,0221,522,235-
総資産2,592,9142,788,3512,650,687-
 
負債
有利子負債合計843,605965,548913,557-
仕入債務238,871249,134212,323-
前受金----
未払法人税等13,96613,57811,185-
繰延税金負債(固定)48,36148,758--
負債1,423,7261,574,4071,471,115-
 
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---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153,32466,20065,900-
研究開発費65,10665,22665,929-
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)43,81748,18146,108-
営利/従業員(千円)3,1763,4192,731-
四半期売上(百万円)
売上5y CAGR・予想:-1.3 %
四半期利益(百万円)
営利5y CAGR・予想:-16.9 %
純利5y CAGR・予想:-20.4 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上508,0881,048,2181,648,8442,204,858550,7781,191,2121,808,3302,388,848544,1831,122,3591,681,4222,214,6331,920,000
前期比106.3%109.5%110.5%108.8%108.4%113.6%109.7%108.3%98.8%94.2%93.0%92.7%86.7%
売上原価397,702825,0731,305,0531,748,017438,916957,8461,463,5311,935,486433,287898,2041,347,0031,776,276-
売上総利益110,386223,145343,791456,841111,862233,366344,799453,362110,896224,155334,419438,357-
%21.7%21.3%20.9%20.7%20.3%19.6%19.1%19.0%20.4%20.0%19.9%19.8%-
販管費71,531145,085220,435300,37777,991155,679232,439311,89376,390152,507229,968307,171-
営業利益38,85578,060123,356156,46433,87177,687112,360141,46934,50671,648104,451131,18670,000
前期比94.8%102.3%108.0%106.5%87.2%99.5%91.1%90.4%101.9%92.2%93.0%92.7%53.4%
%7.6%7.4%7.5%7.1%6.1%6.5%6.2%5.9%6.3%6.4%6.2%5.9%3.6%
受取利息および受取配当金2,0582,6734,6845,2222,8063,7686,0886,8832,8413,9066,4387,024-
持分法による投資利益2,8715,4027,2249,2212,3475,9429,0539,6192,1764,5596,610--
営業外収益6,65610,94715,85019,0507,49312,61019,14921,8976,49411,30916,01911,237-
支払利息1,2582,5533,8005,0911,4173,2425,2337,1611,8663,7875,5537,235-
持分法による投資損失-----------10,805-
営業外費用5,77612,24817,64923,2096,19812,90220,08428,8487,10813,60019,46539,068-
経常利益39,73576,759121,557152,30535,16677,395111,425134,51833,89269,357101,005103,355-
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1777043,4054,54735368617,15222,342481,8194,6637,691-
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--1,20618,414-1,2311,5407,569-
特別損失1,0174,66213,01820,2408544,1226,87929,4411,1253,6046,01517,000-
税引前利益38,89572,801111,944136,61234,66573,959121,698127,41932,81567,57299,65394,046-
法人税等11,10921,75828,69133,4329,88621,08433,89039,6318,34017,68826,79629,131-
%23.8%23.8%23.8%23.8%24.5%24.5%24.5%24.5%31.1%31.1%31.1%31.0%-
当期純利益27,78651,04383,253103,18024,77952,87587,80887,78824,47549,88472,85764,915-
非支配株主に帰属する当期純利益1,6893,5195,6257,2651,9454,3716,4738,4151,8384,2266,6839,190-
親会社株主に帰属する当期純利益26,09747,52477,62895,91522,83448,50481,33579,37322,63745,65866,17455,72540,000
前期比87.9%89.0%101.0%96.5%87.5%102.1%104.8%82.8%99.1%94.1%81.4%70.2%71.8%
%4.9%4.9%4.9%4.9%4.4%4.4%4.4%4.4%3.3%3.3%3.3%2.5%2.1%
 
EBITDA244,446244,446244,446244,446261,144261,144261,144261,144254,779254,779254,779249,510248,324
EPS60.0円60.0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45.0円
BPS650.9円673.0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-
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)2,220,0002,220,0002,220,0002,220,0002,400,0002,400,0002,400,0002,400,0002,530,0002,530,0002,530,0002,530,0001,920,000
対実績比22.9%47.2%74.3%99.3%22.9%49.6%75.3%99.5%21.5%44.4%66.5%87.5%-
営業利益(期初予)165,000165,000165,000165,000165,000165,000165,000165,000160,000160,000160,000160,00070,000
対実績比23.5%47.3%74.8%94.8%20.5%47.1%68.1%85.7%21.6%44.8%65.3%82.0%-
純利益(期初予)100,000100,000100,000100,00098,00098,00098,00098,00093,00093,00093,00093,00040,000
対実績比26.1%47.5%77.6%95.9%23.3%49.5%83.0%81.0%24.3%49.1%71.2%59.9%-
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940円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-
企業価値2,109,2642,351,1002,371,7392,309,4852,069,3832,053,3162,068,6151,941,7742,114,5302,064,7381,967,1411,490,235-
時価総額1,503,9621,745,7981,699,4141,609,8441,397,9171,365,4891,235,0991,130,9471,310,6151,283,3201,185,723750,376-
純有利子負債605,302605,302672,325699,641671,466687,827833,516810,827803,915781,418781,418739,859-
PER(会予)15.0倍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-
PBR1.4倍1.7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-
PER × PBR21.7倍29.3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-
EV/EBITDA(会予)8.0倍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-
PSR(会予)0.7倍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-
PCFR(会予)7.6倍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-
配当金---15.0円---16.0円---16.0円16.0円
配当利回り1.5%1.3%1.3%1.4%1.7%1.8%1.9%2.1%2.0%2.0%2.2%3.4%-
配当性向---25.0%---32.3%---45.9%-
自己資本配当率2.3%2.2%2.1%2.2%2.3%2.2%2.3%2.3%2.3%2.3%2.2%2.3%-
ROE9.2%8.9%8.5%8.8%7.2%6.9%7.0%7.0%5.0%5.0%4.8%5.1%-
純利益率(再掲)5.1%4.5%4.7%4.4%4.1%4.1%4.5%3.3%4.2%4.1%3.9%2.5%-
総資産回転率0.9回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-
財務レバレッジ2.3倍2.3倍2.4倍2.4倍2.4倍2.4倍2.5倍2.5倍2.5倍2.4倍2.4倍2.4倍-
実質ROE9.0%8.7%8.4%8.6%7.0%6.7%6.9%6.9%4.9%4.9%4.7%5.0%-
ROIC6.9%6.6%6.3%6.5%5.3%4.7%4.9%4.8%4.9%5.0%4.9%5.1%-
ROA4.0%3.8%3.6%3.7%3.1%2.8%2.9%2.8%2.0%2.1%2.0%2.1%-
β0.730.680.660.670.690.690.670.660.680.690.610.80-
βの決定係数(R2)0.310.280.260.280.260.250.290.270.280.290.290.42-
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
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
流動資産
現金133,724127,750143,964141,101144,857158,736154,721168,507169,224142,013164,833173,698-
売上債権411,833411,833447,890508,704489,549467,139543,971524,912531,058498,744498,744483,761-
棚卸資産433,998433,998448,936440,266439,673472,395459,827454,706419,527412,660412,660393,655-
有価証券-------------
前払金-------------
繰延税金資産---25,641---------
貸倒引当金-2,123-2,107-2,368-2,037-2,235-2,604-2,251-2,280-2,208-2,211-2,365-2,569-
流動資産1,075,3751,111,8171,179,8621,152,6661,147,7051,224,7921,203,2711,191,3291,178,2951,133,3701,185,3481,128,452-
固定資産
建物・構築物259,649260,303279,769631,681280,596285,791281,184651,084281,407279,131294,738666,509-
機械・運搬具413,335410,146423,2461,902,003431,028449,467432,9681,989,553454,070435,716454,8711,994,262-
土地79,62580,77882,38578,37078,46379,45377,42177,68776,77375,90474,69672,566-
建設仮勘定113,074136,313130,521120,514121,214128,850148,882143,847134,907151,358143,516134,496-
有形固定資産892,675914,730943,673927,029940,605973,514970,934996,876999,354993,4501,020,4361,006,509-
のれん45,94344,01942,54540,14640,399154,76497,96985,71281,51276,56076,18271,950-
無形固定資産77,19774,26172,75368,64769,329183,486190,505171,249164,326155,512156,725150,691-
投資有価証券286,581352,194366,065353,091343,294350,287314,395333,670328,356328,421334,460284,696-
繰延税金資産---12,902---21,978-----
貸倒引当金-3,255-3,282-3,138-2,961-2,948-2,978-2,784-2,781-2,740-2,682-2,758-2,491-
敷金および保証金-------------
投資その他の資産379,038446,672462,138444,572443,366452,944416,332428,897413,664415,993423,899365,035-
固定資産1,348,9101,435,6631,478,5641,440,2481,453,3001,609,9441,577,7711,597,0221,577,3441,564,9551,601,0601,522,235-
総資産2,424,2852,547,4802,658,4262,592,9142,601,0052,834,7362,781,0422,788,3512,755,6392,698,3252,786,4082,650,687-
 
負債
有利子負債合計739,026739,026800,075843,605812,567832,684992,252965,548972,422923,431923,431913,557-
仕入債務219,435219,435226,100238,871245,550245,104253,452249,134240,554218,763218,763212,323-
前受金-------------
未払法人税等13,15916,79413,11013,96612,10013,94312,33513,57811,09814,70012,24311,185-
繰延税金負債(固定)---48,361---48,758-----
負債1,302,8711,390,2351,451,0091,423,7261,416,7421,595,9431,569,6541,574,4071,564,0301,498,8201,541,9811,471,115-
 
純資産
資本金147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873-
資本剰余金121,101121,695121,922117,572117,589117,590117,602117,760117,968118,067118,064118,062-
利益剰余金704,828726,316745,217763,504773,529799,198819,223817,263828,958852,009859,718849,268-
自己株式-20,629-20,629-20,630-20,631-20,359-20,360-20,360-20,358-20,307-20,307-20,308-20,308-
非支配株主持分79,20379,63982,59077,15977,60480,84780,20281,57380,75581,33484,23884,222-
純資産1,121,4141,157,2451,207,4171,169,1881,184,2631,238,7931,211,3881,213,9441,191,6091,199,5051,244,4271,179,572-
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38,89572,801111,944136,61234,66573,959121,698127,41932,81567,57299,65394,046-
減価償却費-45,680-95,815-48,940-101,711-53,148-107,382-
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--1,20618,414-1,2311,5407,569-
受取利息及び受取配当金--2,673--5,222--3,768--6,883--3,906--7,024-
売上債権の増減額--16,110--61,969--39,946--33,582-20,616-37,191-
棚卸資産の増減額--34,306--31,492--5,776-28,427--2,297-18,116-
仕入債務の増減額--6,784-11,594--314--11,843--13,730--23,582-
営業CF-49,097-129,180-57,095-176,239-105,836-225,767-
投資CF
有価証券の取得0-64,6360-67,2740-1,7900-4,1310-1,2780-7,317-
有価証券の売却・償還04,355013,42106,72308,38702,19208,372-
固定資産の購入0-74,6160-147,9250-79,7390-169,6300-69,9480-140,147-
固定資産の売却01,18902,99602,468019,254016806,018-
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--72,696--142,364-
財務CF
短期借入金の純増減額-2,510-3,520--3,307-27,404--39,707--40,024-
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----------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CF-66,071-61,773-142,868-118,891--45,257--67,594-
換算差額-630--1,924-2,392--327--5,361--5,206-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額---153,324---66,200---65,900-
研究開発費-30,652-65,106-32,632-65,226-32,247-65,929-
発行済株式総数1,599,448,842株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-
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---45,762人---48,320人---48,031人-
売上/従業員(千円)43,81743,81743,81743,81748,18148,18148,18148,18149,43849,43849,43846,108-
営利/従業員(千円)3,1763,1763,1763,1763,4193,4193,4193,4192,9282,9282,9282,731-
四半期売上(百万円)
売上5y CAGR・予想:-1.3 %
四半期利益(百万円)
営利5y CAGR・予想:-16.9 %
純利5y CAGR・予想:-20.4 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上508,088540,130600,626556,014550,778640,434617,118580,518544,183578,176559,063533,2111,920,000
前期比106.3%112.8%112.2%104.1%108.4%118.6%102.7%104.4%98.8%90.3%90.6%91.9%86.7%
売上原価397,702427,371479,980442,964438,916518,930505,685471,955433,287464,917448,799429,273-
売上総利益110,386112,759120,646113,050111,862121,504111,433108,563110,896113,259110,264103,938-
%21.7%20.9%20.1%20.3%20.3%19.0%18.1%18.7%20.4%19.6%19.7%19.5%-
販管費71,53173,55475,35079,94277,99177,68876,76079,45476,39076,11777,46177,203-
営業利益38,85539,20545,29633,10833,87143,81634,67329,10934,50637,14232,80326,73570,000
前期比94.8%111.2%119.4%101.3%87.2%111.8%76.5%87.9%101.9%84.8%94.6%91.8%53.4%
%7.6%7.3%7.5%6.0%6.1%6.8%5.6%5.0%6.3%6.4%5.9%5.0%3.6%
受取利息および受取配当金2,0580002,8060002,841000-
持分法による投資利益2,8712,5311,8221,9972,3473,5953,1115662,1762,3832,051-6,610-
営業外収益6,6564,2914,9033,2007,4935,1176,5392,7486,4944,8154,710-4,782-
支払利息1,2581,2951,2471,2911,4171,8251,9911,9281,8661,9211,7661,682-
持分法による投資損失-000-000-0010,805-
営業外費用5,7766,4725,4015,5606,1986,7047,1828,7647,1086,4925,86519,603-
経常利益39,73537,02444,79830,74835,16642,22934,03023,09333,89235,46531,6482,350-
固定資産売却益-000-000-000-
投資有価証券売却益-4572,2188573312441,05926241,6862,81160-
特別利益1775272,7011,14235333316,4665,190481,7712,8443,028-
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-03,430514-01,20617,208-1,2313096,029-
特別損失1,0173,6458,3567,2228543,2682,75722,5621,1252,4792,41110,985-
税引前利益38,89533,90639,14324,66834,66539,29447,7395,72132,81534,75732,081-5,607-
法人税等11,10910,6496,9334,7419,88611,19812,8065,7418,3409,3489,1082,335-
%28.6%31.4%17.7%19.2%28.5%28.5%26.8%100.3%25.4%26.9%28.4%-41.6%-
当期純利益27,78623,25732,21019,92724,77928,09634,933-2024,47525,40922,973-7,942-
非支配株主に帰属する当期純利益1,6891,8302,1061,6401,9452,4262,1021,9421,8382,3882,4572,507-
親会社株主に帰属する当期純利益26,09721,42730,10418,28722,83425,67032,831-1,96222,63723,02120,516-10,44940,000
前期比87.9%90.4%128.3%81.1%87.5%119.8%109.1%-10.7%99.1%89.7%62.5%532.6%71.8%
%5.1%4.0%5.0%3.3%4.1%4.0%5.3%-0.3%4.2%4.0%3.7%-2.0%2.1%
 
EBITDA244,446244,446244,446244,446261,144261,144261,144261,144254,779254,779254,779249,510248,324
EPS60.0円60.0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45.0円
BPS650.9円673.0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-
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)2,220,0002,220,0002,220,0002,220,0002,400,0002,400,0002,400,0002,400,0002,530,0002,530,0002,530,0002,530,0001,920,000
対実績比22.9%47.2%74.3%99.3%22.9%49.6%75.3%99.5%21.5%44.4%66.5%87.5%-
営業利益(期初予)165,000165,000165,000165,000165,000165,000165,000165,000160,000160,000160,000160,00070,000
対実績比23.5%47.3%74.8%94.8%20.5%47.1%68.1%85.7%21.6%44.8%65.3%82.0%-
純利益(期初予)100,000100,000100,000100,00098,00098,00098,00098,00093,00093,00093,00093,00040,000
対実績比26.1%47.5%77.6%95.9%23.3%49.5%83.0%81.0%24.3%49.1%71.2%59.9%-
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940円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-
企業価値2,109,2642,351,1002,371,7392,309,4852,069,3832,053,3162,068,6151,941,7742,114,5302,064,7381,967,1411,490,235-
時価総額1,503,9621,745,7981,699,4141,609,8441,397,9171,365,4891,235,0991,130,9471,310,6151,283,3201,185,723750,376-
純有利子負債605,302605,302672,325699,641671,466687,827833,516810,827803,915781,418781,418739,859-
PER(会予)15.0倍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-
PBR1.4倍1.7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-
PER × PBR21.7倍29.3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-
EV/EBITDA(会予)8.0倍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-
PSR(会予)0.7倍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-
PCFR(会予)7.6倍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-
配当金---15.0円---16.0円---16.0円16.0円
配当利回り1.5%1.3%1.3%1.4%1.7%1.8%1.9%2.1%2.0%2.0%2.2%3.4%-
配当性向---25.0%---32.3%---45.9%-
自己資本配当率2.3%2.2%2.1%2.2%2.3%2.2%2.3%2.3%2.3%2.3%2.2%2.3%-
ROE9.2%8.9%8.5%8.8%7.2%6.9%7.0%7.0%5.0%5.0%4.8%5.1%-
純利益率(再掲)5.1%4.5%4.7%4.4%4.1%4.1%4.5%3.3%4.2%4.1%3.9%2.5%-
総資産回転率0.9回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-
財務レバレッジ2.3倍2.3倍2.4倍2.4倍2.4倍2.4倍2.5倍2.5倍2.5倍2.4倍2.4倍2.4倍-
実質ROE9.0%8.7%8.4%8.6%7.0%6.7%6.9%6.9%4.9%4.9%4.7%5.0%-
ROIC6.9%6.6%6.3%6.5%5.3%4.7%4.9%4.8%4.9%5.0%4.9%5.1%-
ROA4.0%3.8%3.6%3.7%3.1%2.8%2.9%2.8%2.0%2.1%2.0%2.1%-
β0.730.680.660.670.690.690.670.660.680.690.610.80-
βの決定係数(R2)0.310.280.260.280.260.250.290.270.280.290.290.42-
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
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
流動資産
現金133,724127,750143,964141,101144,857158,736154,721168,507169,224142,013164,833173,698-
売上債権411,833411,833447,890508,704489,549467,139543,971524,912531,058498,744498,744483,761-
棚卸資産433,998433,998448,936440,266439,673472,395459,827454,706419,527412,660412,660393,655-
有価証券-------------
前払金-------------
繰延税金資産---25,641---------
貸倒引当金-2,123-2,107-2,368-2,037-2,235-2,604-2,251-2,280-2,208-2,211-2,365-2,569-
流動資産1,075,3751,111,8171,179,8621,152,6661,147,7051,224,7921,203,2711,191,3291,178,2951,133,3701,185,3481,128,452-
固定資産
建物・構築物259,649260,303279,769631,681280,596285,791281,184651,084281,407279,131294,738666,509-
機械・運搬具413,335410,146423,2461,902,003431,028449,467432,9681,989,553454,070435,716454,8711,994,262-
土地79,62580,77882,38578,37078,46379,45377,42177,68776,77375,90474,69672,566-
建設仮勘定113,074136,313130,521120,514121,214128,850148,882143,847134,907151,358143,516134,496-
有形固定資産892,675914,730943,673927,029940,605973,514970,934996,876999,354993,4501,020,4361,006,509-
のれん45,94344,01942,54540,14640,399154,76497,96985,71281,51276,56076,18271,950-
無形固定資産77,19774,26172,75368,64769,329183,486190,505171,249164,326155,512156,725150,691-
投資有価証券286,581352,194366,065353,091343,294350,287314,395333,670328,356328,421334,460284,696-
繰延税金資産---12,902---21,978-----
貸倒引当金-3,255-3,282-3,138-2,961-2,948-2,978-2,784-2,781-2,740-2,682-2,758-2,491-
敷金および保証金-------------
投資その他の資産379,038446,672462,138444,572443,366452,944416,332428,897413,664415,993423,899365,035-
固定資産1,348,9101,435,6631,478,5641,440,2481,453,3001,609,9441,577,7711,597,0221,577,3441,564,9551,601,0601,522,235-
総資産2,424,2852,547,4802,658,4262,592,9142,601,0052,834,7362,781,0422,788,3512,755,6392,698,3252,786,4082,650,687-
 
負債
有利子負債合計739,026739,026800,075843,605812,567832,684992,252965,548972,422923,431923,431913,557-
仕入債務219,435219,435226,100238,871245,550245,104253,452249,134240,554218,763218,763212,323-
前受金-------------
未払法人税等13,15916,79413,11013,96612,10013,94312,33513,57811,09814,70012,24311,185-
繰延税金負債(固定)---48,361---48,758-----
負債1,302,8711,390,2351,451,0091,423,7261,416,7421,595,9431,569,6541,574,4071,564,0301,498,8201,541,9811,471,115-
 
純資産
資本金147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873147,873-
資本剰余金121,101121,695121,922117,572117,589117,590117,602117,760117,968118,067118,064118,062-
利益剰余金704,828726,316745,217763,504773,529799,198819,223817,263828,958852,009859,718849,268-
自己株式-20,629-20,629-20,630-20,631-20,359-20,360-20,360-20,358-20,307-20,307-20,308-20,308-
非支配株主持分79,20379,63982,59077,15977,60480,84780,20281,57380,75581,33484,23884,222-
純資産1,121,4141,157,2451,207,4171,169,1881,184,2631,238,7931,211,3881,213,9441,191,6091,199,5051,244,4271,179,572-
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38,89572,801111,944136,61234,66573,959121,698127,41932,81567,57299,65394,046-
減価償却費-45,680-95,815-48,940-101,711-53,148-107,382-
のれん償却額-4,371-8,865-4,971-11,599-5,513-10,942-
減損損失-03,430514-01,20617,208-1,2313096,029-
受取利息及び受取配当金--2,673--5,222--3,768--6,883--3,906--7,024-
売上債権の増減額--16,110--61,969--39,946--33,582-20,616-37,191-
棚卸資産の増減額--34,306--31,492--5,776-28,427--2,297-18,116-
仕入債務の増減額--6,784-11,594--314--11,843--13,730--23,582-
営業CF-49,097-129,180-57,095-176,239-105,836-225,767-
投資CF
有価証券の取得0-64,6360-67,2740-1,7900-4,1310-1,2780-7,317-
有価証券の売却・償還04,355013,42106,72308,38702,19208,372-
固定資産の購入0-74,6160-147,9250-79,7390-169,6300-69,9480-140,147-
固定資産の売却01,18902,99602,468019,254016806,018-
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--72,696--142,364-
財務CF
短期借入金の純増減額-2,510-3,520--3,307-27,404--39,707--40,024-
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----------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CF-66,071-61,773-142,868-118,891--45,257--67,594-
換算差額-630--1,924-2,392--327--5,361--5,206-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額---153,324---66,200---65,900-
研究開発費-30,652-65,106-32,632-65,226-32,247-65,929-
発行済株式総数1,599,448,842株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-
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---45,762人---48,320人---48,031人-
売上/従業員(千円)43,81743,81743,81743,81748,18148,18148,18148,18149,43849,43849,43846,108-
営利/従業員(千円)3,1763,1763,1763,1763,4193,4193,4193,4192,9282,9282,9282,731-