通期売上(百万円)
売上5y CAGR・実績:2.6 %
通期利益(百万円)
営利5y CAGR・実績:1.8 %
純利5y CAGR・実績:3.2 %
P/L
2018.32019.32020.32021.3E
売上2,042,2162,170,4032,151,646-
前期比108.5%106.3%99.1%-
売上原価1,393,1111,481,8551,476,606-
売上総利益649,105688,548675,040-
%31.8%31.7%31.4%-
販管費450,630478,960497,776-
営業利益198,475209,587177,264-
前期比124.6%105.6%84.6%-
%9.7%9.7%8.2%-
受取利息および受取配当金8,7049,1548,020-
持分法による投資利益13,13712,1127,138-
営業外収益27,80225,50420,479-
支払利息4,5944,3714,016-
持分法による投資損失----
営業外費用13,73315,11513,735-
経常利益212,544219,976184,008-
固定資産売却益5346554,268-
投資有価証券売却益15,16411,58013,679-
特別利益15,69812,23517,948-
固定資産売却損----
投資有価証券売却損311731,953-
減損損失290468-
特別損失9,90821,81446,022-
税引前利益218,333210,397155,934-
法人税等46,14360,58250,206-
%25.9%21.1%32.2%-
当期純利益172,190149,815105,728-
非支配株主に帰属する当期純利益1,9412,3031,797-
親会社株主に帰属する当期純利益170,248147,512103,931-
前期比148.0%86.6%70.5%-
%6.1%8.3%4.8%-
 
EBITDA268,422311,938295,568296,804
EPS121.9円105.7円74.9円91.9円
BPS922.1円989.5円979.7円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)1,990,0002,155,0002,268,000-
対実績比102.6%100.7%94.9%-
営業利益(期初予)165,000190,000205,000-
対実績比120.3%110.3%86.5%-
純利益(期初予)115,000140,000147,500-
対実績比148.0%105.4%70.5%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価1,399円1,142円765円-
企業価値2,162,9131,911,3491,561,552-
時価総額1,953,1841,594,3791,061,154-
純有利子負債209,729316,970500,398-
PER(会予)11.6倍11.0倍8.3倍-
PBR1.5倍1.2倍0.8倍-
PER × PBR17.4倍13.1倍6.5倍-
EV/EBITDA(会予)7.1倍6.1倍5.3倍-
PSR(会予)1.0倍0.7倍0.5倍-
PCFR(会予)7.0倍6.2倍4.3倍-
配当金34.0円34.0円34.0円34.0円
配当利回り1.7%3.0%4.4%-
配当性向27.9%32.2%45.4%-
自己資本配当率3.7%3.4%3.5%-
ROE13.2%10.7%7.6%-
純利益率(再掲)8.3%6.8%4.8%-
総資産回転率0.9回0.8回0.8回-
財務レバレッジ1.9倍1.9倍2.1倍-
実質ROE13.2%10.6%7.6%-
ROIC9.6%8.2%6.1%-
ROA7.4%5.7%3.7%-
β0.691.001.15-
βの決定係数(R2)0.190.340.46-
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156,318193,893207,957-
売上債権334,867354,480330,999-
棚卸資産384,509439,488477,840-
有価証券----
前払金----
繰延税金資産20,032---
貸倒引当金-2,411-3,461-1,519-
流動資産958,9781,051,3931,107,430-
固定資産
建物・構築物517,562547,422563,110-
機械・運搬具1,399,0811,439,1661,466,958-
土地62,93863,88967,024-
建設仮勘定50,50264,18875,487-
有形固定資産562,048621,366653,686-
のれん252,724319,898469,535-
無形固定資産414,621529,978685,482-
投資有価証券314,830296,330244,581-
繰延税金資産6,72727,508--
貸倒引当金-266-418-435-
敷金および保証金----
投資その他の資産380,489372,465351,377-
固定資産1,357,1581,523,8101,690,545-
総資産2,316,1372,575,2032,797,975-
 
負債
有利子負債合計402,345510,860708,355-
仕入債務172,522184,055131,207-
前受金70,14275,83673,623-
未払法人税等29,71424,97118,145-
繰延税金負債(固定)45,62248,299--
負債1,010,9221,172,4931,414,515-
 
純資産
資本金103,389103,389103,389-
資本剰余金79,44079,70879,641-
利益剰余金981,9341,077,5861,125,738-
自己株式-3,930-3,936-5,990-
非支配株主持分17,82721,22524,145-
純資産1,305,2141,402,7101,383,460-
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218,333210,397155,934-
減価償却費95,41584,55696,016-
のれん償却額18,04819,49022,288-
減損損失290468-
受取利息及び受取配当金-8,704-9,154-8,021-
売上債権の増減額-38,9863,94216,919-
棚卸資産の増減額-11,815-57,968-51,950-
仕入債務の増減額23,020-776-45,562-
営業CF249,891212,062124,460-
投資CF
有価証券の取得-11,564-2,624-10,820-
有価証券の売却・償還17,77417,03023,543-
固定資産の購入-96,272-124,854-154,450-
固定資産の売却1,6016525,693-
貸付け----
貸付金の回収----
投資CF-110,294-198,917-318,156-
財務CF
短期借入金の純増減額-28,935-36,840172,022-
長期借入れ15,39585,49245,816-
長期借入金の返済-23,532-53,833-17,586-
社債の発行-20,00040,000-
社債の償還-20,000--20,000-
自己株式の取得-688-40-10,016-
自己株式の売却----
配当金の支払-39,106-51,674-48,723-
財務CF-134,41217,388221,923-
換算差額-937543-4,060-
その他
2018.32019.32020.32021.3E
設備投資額-136,206154,122-
研究開発費61,99862,92462,244-
発行済株式総数1,396,124,715株1,396,124,949株1,387,491,705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34,670人39,283人40,689人-
売上/従業員(千円)55,84258,90452,880-
営利/従業員(千円)4,7225,7254,357-
四半期売上(百万円)
売上5y CAGR・実績:2.6 %
四半期利益(百万円)
営利5y CAGR・実績:1.8 %
純利5y CAGR・実績:3.2 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上448,736964,7491,484,5492,042,216489,7701,041,4631,586,7492,170,403502,0831,068,6421,588,5322,151,646-
前期比105.4%108.3%109.4%108.5%109.1%108.0%106.9%106.3%102.5%102.6%100.1%99.1%-
売上原価302,131651,5431,002,5141,393,111328,412704,9551,076,7331,481,855339,362722,6431,079,2471,476,606-
売上総利益146,604313,206482,035649,105161,358336,508510,016688,548162,721346,000509,285675,040-
%32.7%32.5%32.5%31.8%32.9%32.3%32.1%31.7%32.4%32.4%32.1%31.4%-
販管費108,746220,554332,847450,630113,475232,202353,309478,960121,378244,305369,046497,776-
営業利益28,03960,71297,530198,47534,91472,127106,392209,58725,85656,86779,079177,264-
前期比161.6%162.3%154.3%124.6%124.5%118.8%109.1%105.6%74.1%78.8%74.3%84.6%-
%6.2%6.3%6.6%9.7%7.1%6.9%6.7%9.7%5.1%5.3%5.0%8.2%-
受取利息および受取配当金2,4423,8017,0708,7043,1584,8727,0259,1542,6954,6806,4918,020-
持分法による投資利益2,5965,3499,11813,1372,5206,6889,89012,1122,1624,6246,6097,138-
営業外収益5,98710,79519,83727,8026,44813,07819,23125,5045,94911,07215,70020,479-
支払利息1,1032,2983,3994,5941,1122,2033,3384,3719922,1363,0274,016-
持分法による投資損失-------------
営業外費用2,6425,2758,48013,7332,5577,12510,68415,1153,3257,48610,26213,735-
経常利益41,20398,172160,546212,54451,773110,259165,254219,97643,967105,280145,678184,008-
固定資産売却益407416530534902594516553604141,4024,268-
投資有価証券売却益5,5415,84515,08715,1646,8116,8116,81111,5805229,0219,02213,679-
特別利益5,9486,26115,61715,6986,9017,0707,26212,2358839,43510,42417,948-
固定資産売却損-------------
投資有価証券売却損8-531-1919173-4121,1571,953-
減損損失5135678542901741833,36946111412,2268-
特別損失1,5782,7434,7859,9089272,1818,26121,8141,0943,8999,91946,022-
税引前利益45,574101,690171,378218,33357,747115,148164,255210,39743,757110,816146,183155,934-
法人税等14,99929,73629,48246,14320,77535,13147,28960,58218,84432,04041,01450,206-
%25.9%25.9%25.9%25.9%21.1%21.1%21.1%21.1%28.8%28.8%28.8%32.2%-
当期純利益30,57571,954141,896172,19036,97280,018116,966149,81524,91378,776105,169105,728-
非支配株主に帰属する当期純利益5111,0861,5691,9415581,0941,5442,3035339131,3421,797-
親会社株主に帰属する当期純利益30,06470,868140,328170,24836,41478,924115,422147,51224,38077,863103,827103,931-
前期比124.8%133.9%156.5%148.0%121.1%111.4%82.3%86.6%67.0%98.7%90.0%70.5%-
%6.1%6.1%6.1%6.1%8.3%8.3%8.3%8.3%6.8%6.8%6.8%4.8%-
 
EBITDA268,422268,422268,422268,422311,938311,938311,938311,938313,633313,633313,633295,568296,804
EPS121.9円121.9円121.9円121.9円105.7円105.7円105.7円105.7円74.9円74.9円74.9円74.9円91.9円
BPS837.8円882.3円931.6円922.1円934.3円980.2円959.9円989.5円969.9円1,005.4円1,021.9円979.7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)1,990,0001,990,0001,990,0001,990,0002,155,0002,155,0002,155,0002,155,0002,268,0002,268,0002,268,0002,268,000-
対実績比22.5%48.5%74.6%102.6%22.7%48.3%73.6%100.7%22.1%47.1%70.0%94.9%-
営業利益(期初予)165,000165,000165,000165,000190,000190,000190,000190,000205,000205,000205,000205,000-
対実績比17.0%36.8%59.1%120.3%18.4%38.0%56.0%110.3%12.6%27.7%38.6%86.5%-
純利益(期初予)115,000115,000115,000115,000140,000140,000140,000140,000147,500147,500147,500147,500-
対実績比26.1%61.6%122.0%148.0%26.0%56.4%82.4%105.4%16.5%52.8%70.4%70.5%-
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1,208円1,385円1,454円1,399円1,408円1,723円1,130円1,142円1,149円1,064円1,234円765円-
企業価値1,945,4302,193,3332,244,1512,162,9132,111,1712,564,4681,850,9851,911,3491,834,4311,756,0991,991,9741,561,552-
時価総額1,686,4361,934,3392,029,2801,953,1841,965,7442,405,5171,577,6381,594,3791,603,4501,476,2961,712,1711,061,154-
純有利子負債258,994258,994214,871209,729145,427158,951273,347316,970230,981279,803279,803500,398-
PER(会予)14.7倍16.8倍14.5倍11.6倍14.0倍17.2倍9.9倍11.0倍10.9倍10.0倍12.0倍8.3倍-
PBR1.4倍1.7倍1.6倍1.5倍1.5倍1.8倍1.2倍1.2倍1.2倍1.1倍1.2倍0.8倍-
PER × PBR21.1倍27.8倍23.9倍17.4倍21.4倍31.7倍11.4倍13.1倍12.6倍10.6倍14.7倍6.5倍-
EV/EBITDA(会予)7.1倍8.0倍7.7倍7.1倍7.0倍8.5倍5.7倍6.1倍5.9倍5.7倍6.7倍5.3倍-
PSR(会予)0.8倍1.0倍1.0倍1.0倍0.9倍1.1倍0.7倍0.7倍0.7倍0.7倍0.8倍0.5倍-
PCFR(会予)7.5倍8.6倍8.1倍7.0倍7.8倍9.5倍5.8倍6.2倍6.4倍5.9倍6.9倍4.3倍-
配当金---34.0円---34.0円---34.0円34.0円
配当利回り2.0%1.7%1.7%1.7%2.4%2.0%3.0%3.0%3.0%3.2%2.8%4.4%-
配当性向---27.9%---32.2%---45.4%-
自己資本配当率4.1%3.9%3.6%3.7%3.6%3.5%3.5%3.4%3.5%3.4%3.3%3.5%-
ROE14.5%13.8%13.1%13.2%11.3%10.8%11.0%10.7%7.7%7.5%7.3%7.6%-
純利益率(再掲)6.7%7.3%9.5%8.3%7.4%7.6%7.3%6.8%4.9%7.3%6.5%4.8%-
総資産回転率0.9回0.9回0.8回0.9回0.9回0.8回0.8回0.8回0.9回0.8回0.8回0.8回-
財務レバレッジ1.9倍1.9倍1.9倍1.9倍1.8倍1.8倍1.9倍1.9倍1.9倍1.9倍1.9倍2.1倍-
実質ROE14.5%13.8%13.1%13.2%11.3%10.7%11.0%10.6%7.6%7.4%7.3%7.6%-
ROIC9.6%9.5%8.9%9.6%9.0%8.2%8.0%8.2%7.1%6.8%6.5%6.1%-
ROA7.5%7.3%7.0%7.4%6.2%5.7%5.7%5.7%4.1%4.0%3.8%3.7%-
β0.750.730.670.690.780.860.981.001.001.051.061.15-
βの決定係数(R2)0.220.220.180.190.210.260.330.340.350.370.390.46-
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153,284163,336192,616156,318187,047170,031193,890193,893171,698186,647209,914207,957-
売上債権284,789284,789321,878334,867341,396326,376361,821354,480350,716322,445322,445330,999-
棚卸資産359,168359,168364,254384,509359,687386,443410,642439,488427,346448,676448,676477,840-
有価証券-------------
前払金-------------
繰延税金資産20,62920,82621,03220,032---------
貸倒引当金-2,290-2,288-2,361-2,411-2,519-2,772-2,947-3,461-3,604-1,472-1,376-1,519-
流動資産894,907950,3821,018,521958,978973,1661,027,2241,083,6191,051,3931,014,3661,041,6891,140,1751,107,430-
固定資産
建物・構築物514,001517,200522,353517,562523,063539,372544,583547,422551,556559,394567,578563,110-
機械・運搬具1,381,4001,395,6841,410,2741,399,0811,410,0221,438,5431,444,4961,439,1661,436,8551,447,3751,469,2781,466,958-
土地62,09763,01862,91162,93862,94764,57165,40463,88964,49264,63964,94167,024-
建設仮勘定42,80744,27342,83850,50256,12863,46661,35264,18872,22975,33374,55575,487-
有形固定資産558,592562,278565,848562,048572,824608,804614,166621,366634,050649,505664,141653,686-
のれん280,514277,925274,040252,724262,320358,561356,227319,898311,922327,692325,939469,535-
無形固定資産453,863449,055444,849414,621427,630539,984532,175529,978516,299544,755544,484685,482-
投資有価証券288,149315,453330,561314,830308,789316,383284,930296,330286,063281,293292,706244,581-
繰延税金資産7,1012,9416,2806,72721,29021,14728,69327,508-----
貸倒引当金-222-207-214-266-264-272-280-418-389-372-389-435-
敷金および保証金-------------
投資その他の資産349,227373,170393,299380,489386,684396,030367,074372,465358,831354,704357,880351,377-
固定資産1,361,6821,384,5031,403,9961,357,1581,387,1391,544,8191,513,4161,523,8101,509,1801,548,9641,566,5051,690,545-
総資産2,256,5892,334,8852,422,5162,316,1372,360,3052,572,0432,597,0352,575,2032,523,5462,590,6522,706,6802,797,975-
 
負債
有利子負債合計412,278412,278378,207402,345301,745345,998443,378510,860424,874466,450466,450708,355-
仕入債務126,671126,671162,099172,522171,413172,752190,329184,055180,429148,054148,054131,207-
前受金84,26482,28785,06570,14283,09385,62194,32375,83683,87879,92085,14173,623-
未払法人税等18,52920,34120,27229,71423,92723,66115,03524,97117,35021,8549,88118,145-
繰延税金負債(固定)58,08358,16546,94645,62239,31744,19441,24948,299-----
負債1,069,4051,085,5971,103,8841,010,9221,038,1781,181,8291,236,7301,172,4931,157,1191,174,6341,267,0991,414,515-
 
純資産
資本金103,389103,389103,389103,389103,389103,389103,389103,389103,389103,389103,389103,389-
資本剰余金79,44079,44079,44079,44079,44179,43879,70779,70879,66279,66279,64179,641-
利益剰余金861,327902,132952,039981,934990,5041,032,9041,045,4961,077,5861,079,0191,132,5021,125,6331,125,738-
自己株式-3,268-3,917-3,924-3,930-3,935-3,912-3,928-3,936-13,940-13,863-5,988-5,990-
非支配株主持分17,07017,53818,03117,82717,71521,69420,09521,22520,78621,08721,70524,145-
純資産1,187,1841,249,2881,318,6321,305,2141,322,1271,390,2141,360,3051,402,7101,366,4271,416,0181,439,5811,383,460-
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45,574101,690171,378218,33357,747115,148164,255210,39743,757110,816146,183155,934-
減価償却費22,46045,81770,42695,41519,57439,84461,51684,55621,62545,90070,75896,016-
のれん償却額4,5329,06313,63618,0484,4048,90014,93019,4905,26710,75316,52922,288-
減損損失5135678542901741833,36946111412,2268-
受取利息及び受取配当金-2,441-3,801-7,070-8,704-3,157-4,872-7,025-9,154-2,695-4,680-6,491-8,021-
売上債権の増減額18,978-16,156-27,060-38,98617,042-10,017863,94219,38222,99410,03216,919-
棚卸資産の増減額-11,884-15,206-33,593-11,815-26,074-41,644-72,445-57,968-15,130-25,446-59,975-51,950-
仕入債務の増減額-21,99212,51720,18623,0207319,1502,386-776-21,372-28,939-19,615-45,562-
営業CF36,968115,009154,043249,89135,27573,724102,436212,06215,87277,80382,566124,460-
投資CF
有価証券の取得-773-9,166-9,989-11,564-830-1,054-1,369-2,624-1,517-2,656-5,746-10,820-
有価証券の売却・償還5,9536,30616,65617,7747,3528,1018,11617,0305,35518,02518,09323,543-
固定資産の購入-22,144-41,607-68,559-96,272-26,303-59,830-95,250-124,854-30,443-71,347-106,814-154,450-
固定資産の売却9081,0101,6961,6013184265206522201,7312,0965,693-
貸付け-------------
貸付金の回収-------------
投資CF-24,915-52,956-69,061-110,294-11,314-119,117-163,753-198,917-16,406-73,778-110,038-318,156-
財務CF
短期借入金の純増減額-2,308-2,435-14,643-28,935-15,23348,28733,294-36,84013,20611,80635,763172,022-
長期借入れ-5,67615,29515,395-2,65825,67985,4922084781845,816-
長期借入金の返済-273-12,064-12,316-23,532-202-12,008-20,216-53,833-203-11,665-11,866-17,586-
社債の発行------20,00020,000-40,00040,00040,000-
社債の償還--20,000-20,000-20,000-------20,000-20,000-
自己株式の取得-26-675-683-688-5-10-30-40-10,005-10,010-10,013-10,016-
自己株式の売却-------------
配当金の支払-19,553-19,553-39,106-39,106-27,932-27,932-51,674-51,674-23,742-23,742-48,723-48,723-
財務CF-9,944-45,937-43,117-134,41211,20761,245103,38017,388-5,3044,77856,264221,923-
換算差額5,6031,1215,123-9371,0053,5031,209543-4,279-3,925-724-4,060-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額-------136,206---154,122-
研究開発費---61,998---62,924---62,244-
発行済株式総数1,396,634,388株1,396,133,702株1,396,128,544株1,396,124,715株1,396,121,311株1,396,139,404株1,396,128,873株1,396,124,949株1,387,437,257株1,387,496,596株1,387,493,481株1,387,491,705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---34,670人---39,283人---40,689人-
売上/従業員(千円)55,84255,84255,84255,84258,90458,90458,90458,90455,25055,25055,25052,880-
営利/従業員(千円)4,7224,7224,7224,7225,7255,7255,7255,7255,3355,3355,3354,357-
四半期売上(百万円)
売上5y CAGR・実績:2.6 %
四半期利益(百万円)
営利5y CAGR・実績:1.8 %
純利5y CAGR・実績:3.2 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上448,736516,013519,800557,667489,770551,693545,286583,654502,083566,559519,890563,114-
前期比105.4%111.0%111.5%106.0%109.1%106.9%104.9%104.7%102.5%102.7%95.3%96.5%-
売上原価302,131349,412350,971390,597328,412376,543371,778405,122339,362383,281356,604397,359-
売上総利益146,604166,602168,829167,070161,358175,150173,508178,532162,721183,279163,285165,755-
%32.7%32.3%32.5%30.0%32.9%31.7%31.8%30.6%32.4%32.3%31.4%29.4%-
販管費108,746111,808112,293117,783113,475118,727121,107125,651121,378122,927124,741128,730-
営業利益28,03932,67336,818100,94534,91437,21334,265103,19525,85631,01122,21298,185-
前期比161.6%163.0%142.6%105.1%124.5%113.9%93.1%102.2%74.1%83.3%64.8%95.1%-
%6.2%6.3%7.1%18.1%7.1%6.7%6.3%17.7%5.1%5.5%4.3%17.4%-
受取利息および受取配当金2,4420003,1580002,695000-
持分法による投資利益2,5962,7533,7694,0192,5204,1683,2022,2222,1622,4621,985529-
営業外収益5,9874,8089,0427,9656,4486,6306,1536,2735,9495,1234,6284,779-
支払利息1,1031,1951,1011,1951,1121,0911,1351,0339921,144891989-
持分法による投資損失-000-000-000-
営業外費用2,6422,6333,2055,2532,5574,5683,5594,4313,3254,1612,7763,473-
経常利益41,20356,96962,37451,99851,77358,48654,99554,72243,96761,31340,39838,330-
固定資産売却益4079114490169192204360549882,866-
投資有価証券売却益5,5413049,242776,811004,7695228,49914,657-
特別利益5,9483139,356816,9011691924,9738838,5529897,524-
固定資産売却損-000-000-000-
投資有価証券売却損8-8526-190154-412745796-
減損損失51354287-56417493,186-3,323111302,085-2,218-
特別損失1,5781,1652,0425,1239271,2546,08013,5531,0942,8056,02036,103-
税引前利益45,57456,11669,68846,95557,74757,40149,10746,14243,75767,05935,3679,751-
法人税等14,99914,737-25416,66120,77514,35612,15813,29318,84413,1968,9749,192-
%32.9%26.3%-0.4%35.5%36.0%25.0%24.8%28.8%43.1%19.7%25.4%94.3%-
当期純利益30,57541,37969,94230,29436,97243,04636,94832,84924,91353,86326,393559-
非支配株主に帰属する当期純利益511575483372558536450759533380429455-
親会社株主に帰属する当期純利益30,06440,80469,46029,92036,41442,51036,49832,09024,38053,48325,964104-
前期比124.8%141.6%189.1%118.0%121.1%104.2%52.5%107.3%67.0%125.8%71.1%0.3%-
%6.7%7.9%13.4%5.4%7.4%7.7%6.7%5.5%4.9%9.4%5.0%0.0%-
 
EBITDA268,422268,422268,422268,422311,938311,938311,938311,938313,633313,633313,633295,568296,804
EPS121.9円121.9円121.9円121.9円105.7円105.7円105.7円105.7円74.9円74.9円74.9円74.9円91.9円
BPS837.8円882.3円931.6円922.1円934.3円980.2円959.9円989.5円969.9円1,005.4円1,021.9円979.7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)1,990,0001,990,0001,990,0001,990,0002,155,0002,155,0002,155,0002,155,0002,268,0002,268,0002,268,0002,268,000-
対実績比22.5%48.5%74.6%102.6%22.7%48.3%73.6%100.7%22.1%47.1%70.0%94.9%-
営業利益(期初予)165,000165,000165,000165,000190,000190,000190,000190,000205,000205,000205,000205,000-
対実績比17.0%36.8%59.1%120.3%18.4%38.0%56.0%110.3%12.6%27.7%38.6%86.5%-
純利益(期初予)115,000115,000115,000115,000140,000140,000140,000140,000147,500147,500147,500147,500-
対実績比26.1%61.6%122.0%148.0%26.0%56.4%82.4%105.4%16.5%52.8%70.4%70.5%-
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1,208円1,385円1,454円1,399円1,408円1,723円1,130円1,142円1,149円1,064円1,234円765円-
企業価値1,945,4302,193,3332,244,1512,162,9132,111,1712,564,4681,850,9851,911,3491,834,4311,756,0991,991,9741,561,552-
時価総額1,686,4361,934,3392,029,2801,953,1841,965,7442,405,5171,577,6381,594,3791,603,4501,476,2961,712,1711,061,154-
純有利子負債258,994258,994214,871209,729145,427158,951273,347316,970230,981279,803279,803500,398-
PER(会予)14.7倍16.8倍14.5倍11.6倍14.0倍17.2倍9.9倍11.0倍10.9倍10.0倍12.0倍8.3倍-
PBR1.4倍1.7倍1.6倍1.5倍1.5倍1.8倍1.2倍1.2倍1.2倍1.1倍1.2倍0.8倍-
PER × PBR21.1倍27.8倍23.9倍17.4倍21.4倍31.7倍11.4倍13.1倍12.6倍10.6倍14.7倍6.5倍-
EV/EBITDA(会予)7.1倍8.0倍7.7倍7.1倍7.0倍8.5倍5.7倍6.1倍5.9倍5.7倍6.7倍5.3倍-
PSR(会予)0.8倍1.0倍1.0倍1.0倍0.9倍1.1倍0.7倍0.7倍0.7倍0.7倍0.8倍0.5倍-
PCFR(会予)7.5倍8.6倍8.1倍7.0倍7.8倍9.5倍5.8倍6.2倍6.4倍5.9倍6.9倍4.3倍-
配当金---34.0円---34.0円---34.0円34.0円
配当利回り2.0%1.7%1.7%1.7%2.4%2.0%3.0%3.0%3.0%3.2%2.8%4.4%-
配当性向---27.9%---32.2%---45.4%-
自己資本配当率4.1%3.9%3.6%3.7%3.6%3.5%3.5%3.4%3.5%3.4%3.3%3.5%-
ROE14.5%13.8%13.1%13.2%11.3%10.8%11.0%10.7%7.7%7.5%7.3%7.6%-
純利益率(再掲)6.7%7.3%9.5%8.3%7.4%7.6%7.3%6.8%4.9%7.3%6.5%4.8%-
総資産回転率0.9回0.9回0.8回0.9回0.9回0.8回0.8回0.8回0.9回0.8回0.8回0.8回-
財務レバレッジ1.9倍1.9倍1.9倍1.9倍1.8倍1.8倍1.9倍1.9倍1.9倍1.9倍1.9倍2.1倍-
実質ROE14.5%13.8%13.1%13.2%11.3%10.7%11.0%10.6%7.6%7.4%7.3%7.6%-
ROIC9.6%9.5%8.9%9.6%9.0%8.2%8.0%8.2%7.1%6.8%6.5%6.1%-
ROA7.5%7.3%7.0%7.4%6.2%5.7%5.7%5.7%4.1%4.0%3.8%3.7%-
β0.750.730.670.690.780.860.981.001.001.051.061.15-
βの決定係数(R2)0.220.220.180.190.210.260.330.340.350.370.390.46-
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153,284163,336192,616156,318187,047170,031193,890193,893171,698186,647209,914207,957-
売上債権284,789284,789321,878334,867341,396326,376361,821354,480350,716322,445322,445330,999-
棚卸資産359,168359,168364,254384,509359,687386,443410,642439,488427,346448,676448,676477,840-
有価証券-------------
前払金-------------
繰延税金資産20,62920,82621,03220,032---------
貸倒引当金-2,290-2,288-2,361-2,411-2,519-2,772-2,947-3,461-3,604-1,472-1,376-1,519-
流動資産894,907950,3821,018,521958,978973,1661,027,2241,083,6191,051,3931,014,3661,041,6891,140,1751,107,430-
固定資産
建物・構築物514,001517,200522,353517,562523,063539,372544,583547,422551,556559,394567,578563,110-
機械・運搬具1,381,4001,395,6841,410,2741,399,0811,410,0221,438,5431,444,4961,439,1661,436,8551,447,3751,469,2781,466,958-
土地62,09763,01862,91162,93862,94764,57165,40463,88964,49264,63964,94167,024-
建設仮勘定42,80744,27342,83850,50256,12863,46661,35264,18872,22975,33374,55575,487-
有形固定資産558,592562,278565,848562,048572,824608,804614,166621,366634,050649,505664,141653,686-
のれん280,514277,925274,040252,724262,320358,561356,227319,898311,922327,692325,939469,535-
無形固定資産453,863449,055444,849414,621427,630539,984532,175529,978516,299544,755544,484685,482-
投資有価証券288,149315,453330,561314,830308,789316,383284,930296,330286,063281,293292,706244,581-
繰延税金資産7,1012,9416,2806,72721,29021,14728,69327,508-----
貸倒引当金-222-207-214-266-264-272-280-418-389-372-389-435-
敷金および保証金-------------
投資その他の資産349,227373,170393,299380,489386,684396,030367,074372,465358,831354,704357,880351,377-
固定資産1,361,6821,384,5031,403,9961,357,1581,387,1391,544,8191,513,4161,523,8101,509,1801,548,9641,566,5051,690,545-
総資産2,256,5892,334,8852,422,5162,316,1372,360,3052,572,0432,597,0352,575,2032,523,5462,590,6522,706,6802,797,975-
 
負債
有利子負債合計412,278412,278378,207402,345301,745345,998443,378510,860424,874466,450466,450708,355-
仕入債務126,671126,671162,099172,522171,413172,752190,329184,055180,429148,054148,054131,207-
前受金84,26482,28785,06570,14283,09385,62194,32375,83683,87879,92085,14173,623-
未払法人税等18,52920,34120,27229,71423,92723,66115,03524,97117,35021,8549,88118,145-
繰延税金負債(固定)58,08358,16546,94645,62239,31744,19441,24948,299-----
負債1,069,4051,085,5971,103,8841,010,9221,038,1781,181,8291,236,7301,172,4931,157,1191,174,6341,267,0991,414,515-
 
純資産
資本金103,389103,389103,389103,389103,389103,389103,389103,389103,389103,389103,389103,389-
資本剰余金79,44079,44079,44079,44079,44179,43879,70779,70879,66279,66279,64179,641-
利益剰余金861,327902,132952,039981,934990,5041,032,9041,045,4961,077,5861,079,0191,132,5021,125,6331,125,738-
自己株式-3,268-3,917-3,924-3,930-3,935-3,912-3,928-3,936-13,940-13,863-5,988-5,990-
非支配株主持分17,07017,53818,03117,82717,71521,69420,09521,22520,78621,08721,70524,145-
純資産1,187,1841,249,2881,318,6321,305,2141,322,1271,390,2141,360,3051,402,7101,366,4271,416,0181,439,5811,383,460-
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45,574101,690171,378218,33357,747115,148164,255210,39743,757110,816146,183155,934-
減価償却費22,46045,81770,42695,41519,57439,84461,51684,55621,62545,90070,75896,016-
のれん償却額4,5329,06313,63618,0484,4048,90014,93019,4905,26710,75316,52922,288-
減損損失51354287-56417493,186-3,323111302,085-2,218-
受取利息及び受取配当金-2,441-3,801-7,070-8,704-3,157-4,872-7,025-9,154-2,695-4,680-6,491-8,021-
売上債権の増減額18,978-16,156-27,060-38,98617,042-10,017863,94219,38222,99410,03216,919-
棚卸資産の増減額-11,884-15,206-33,593-11,815-26,074-41,644-72,445-57,968-15,130-25,446-59,975-51,950-
仕入債務の増減額-21,99212,51720,18623,0207319,1502,386-776-21,372-28,939-19,615-45,562-
営業CF36,968115,009154,043249,89135,27573,724102,436212,06215,87277,80382,566124,460-
投資CF
有価証券の取得-773-9,166-9,989-11,564-830-1,054-1,369-2,624-1,517-2,656-5,746-10,820-
有価証券の売却・償還5,9536,30616,65617,7747,3528,1018,11617,0305,35518,02518,09323,543-
固定資産の購入-22,144-41,607-68,559-96,272-26,303-59,830-95,250-124,854-30,443-71,347-106,814-154,450-
固定資産の売却9081,0101,6961,6013184265206522201,7312,0965,693-
貸付け-------------
貸付金の回収-------------
投資CF-24,915-52,956-69,061-110,294-11,314-119,117-163,753-198,917-16,406-73,778-110,038-318,156-
財務CF
短期借入金の純増減額-2,308-2,435-14,643-28,935-15,23348,28733,294-36,84013,20611,80635,763172,022-
長期借入れ-5,67615,29515,395-2,65825,67985,4922084781845,816-
長期借入金の返済-273-12,064-12,316-23,532-202-12,008-20,216-53,833-203-11,665-11,866-17,586-
社債の発行------20,00020,000-40,00040,00040,000-
社債の償還--20,000-20,000-20,000-------20,000-20,000-
自己株式の取得-26-675-683-688-5-10-30-40-10,005-10,010-10,013-10,016-
自己株式の売却-------------
配当金の支払-19,553-19,553-39,106-39,106-27,932-27,932-51,674-51,674-23,742-23,742-48,723-48,723-
財務CF-9,944-45,937-43,117-134,41211,20761,245103,38017,388-5,3044,77856,264221,923-
換算差額5,6031,1215,123-9371,0053,5031,209543-4,279-3,925-724-4,060-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額-------136,206---154,122-
研究開発費---61,998---62,924---62,244-
発行済株式総数1,396,634,388株1,396,133,702株1,396,128,544株1,396,124,715株1,396,121,311株1,396,139,404株1,396,128,873株1,396,124,949株1,387,437,257株1,387,496,596株1,387,493,481株1,387,491,705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---34,670人---39,283人---40,689人-
売上/従業員(千円)55,84255,84255,84255,84258,90458,90458,90458,90455,25055,25055,25052,880-
営利/従業員(千円)4,7224,7224,7224,7225,7255,7255,7255,7255,3355,3355,3354,357-