通期売上(百万円)
売上5y CAGR・予想:-0.8 %
通期利益(百万円)
営利5y CAGR・予想:-15.5 %
純利5y CAGR・予想:-15.5 %
P/L
2018.32019.32020.32021.3E
売上1,328,5261,482,9091,338,9871,145,000
前期比109.6%111.6%90.3%85.5%
売上原価1,019,1601,166,5771,041,840-
売上総利益309,366316,332297,147-
%23.3%21.3%22.2%-
販管費205,875222,905225,511-
営業利益103,49193,42771,63637,000
前期比101.3%90.3%76.7%51.7%
%7.8%6.3%5.4%3.2%
受取利息および受取配当金4,7884,8624,827-
持分法による投資利益7,06310,8073,165-
営業外収益17,32120,79712,274-
支払利息5,4785,5345,501-
持分法による投資損失----
営業外費用10,60711,25218,393-
経常利益110,205102,97265,517-
固定資産売却益2,77879453-
投資有価証券売却益7673,663192-
特別利益6,47215,85324,804-
固定資産売却損97532-
投資有価証券売却損5,05917124-
減損損失15,0121,4542,508-
特別損失22,46913,52821,861-
税引前利益94,208105,29768,460-
法人税等15,19018,77422,171-
%16.1%17.8%32.4%-
当期純利益79,01886,52346,289-
非支配株主に帰属する当期純利益7,43310,4088,345-
親会社株主に帰属する当期純利益71,58576,11537,94420,000
前期比110.4%106.3%49.9%52.7%
%5.4%5.1%2.8%1.7%
 
EBITDA149,145142,931123,742-
EPS360.3円390.2円198.6円261.7円
BPS2,574.8円2,829.5円2,761.9円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)1,300,0001,480,0001,540,0001,145,000
対実績比102.2%100.2%86.9%-
営業利益(期初予)98,000106,000105,00037,000
対実績比105.6%88.1%68.2%-
純利益(期初予)65,00080,00076,00020,000
対実績比110.1%95.1%49.9%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価3,355円2,671円2,051円-
企業価値1,028,016899,654793,443-
時価総額670,868521,417391,788-
純有利子負債380,362373,765401,655-
PER(会予)8.6倍6.5倍7.8倍-
PBR1.3倍1.0倍0.7倍-
PER × PBR11.3倍6.3倍5.8倍-
EV/EBITDA(会予)6.9倍6.2倍6.2倍-
PSR(会予)0.5倍0.3倍0.3倍-
PCFR(会予)5.5倍4.1倍3.8倍-
配当金90.0円100.0円100.0円100.0円
配当利回り2.1%3.4%4.9%-
配当性向25.0%25.6%50.3%-
自己資本配当率2.1%3.5%3.6%-
ROE14.0%13.8%7.2%-
純利益率(再掲)5.4%5.1%2.8%-
総資産回転率0.9回1.0回0.9回-
財務レバレッジ2.8倍2.7倍2.8倍-
実質ROE13.5%13.1%6.7%-
ROIC9.1%7.2%4.6%-
ROA5.0%5.1%2.6%-
β0.981.161.23-
βの決定係数(R2)0.360.460.54-
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80,209111,056149,348-
売上債権306,899310,591275,332-
棚卸資産274,342301,890288,006-
有価証券----
前払金----
繰延税金資産18,226---
貸倒引当金-673-718-3,509-
流動資産731,326786,677781,347-
固定資産
建物・構築物343,555352,569365,837-
機械・運搬具997,5631,030,9491,041,644-
土地159,018156,556156,646-
建設仮勘定20,46218,51529,910-
有形固定資産432,908443,063485,531-
のれん5,6845,0614,412-
無形固定資産31,47629,38528,941-
投資有価証券159,428151,847110,340-
繰延税金資産10,67311,386--
貸倒引当金-2,420-2,448-2,808-
敷金および保証金----
投資その他の資産235,599241,949184,248-
固定資産699,983714,397698,720-
総資産1,431,3091,501,0741,480,067-
 
負債
有利子負債合計460,571484,821551,003-
仕入債務162,179163,908128,458-
前受金----
未払法人税等7,9569,3725,383-
繰延税金負債(固定)13,24011,471--
負債844,087869,335872,046-
 
純資産
資本金125,125125,205125,298-
資本剰余金89,32789,40689,514-
利益剰余金291,000348,202366,330-
自己株式-19,842-29,869-39,254-
非支配株主持分75,63679,82480,432-
純資産587,222631,739608,021-
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94,208105,29768,460-
減価償却費44,83548,85351,464-
のれん償却額819651642-
減損損失15,0121,4542,508-
受取利息及び受取配当金-4,788-4,862-4,827-
売上債権の増減額-23,381-3,25533,033-
棚卸資産の増減額-26,419-26,62911,255-
仕入債務の増減額13,7861,300-34,544-
営業CF82,660109,492114,974-
投資CF
有価証券の取得-3,986-23,952-6,217-
有価証券の売却・償還1,5219,434584-
固定資産の購入-52,672-55,755-76,342-
固定資産の売却2,8394,0161,007-
貸付け-5,208-90-2,175-
貸付金の回収----
投資CF-75,041-64,255-85,168-
財務CF
短期借入金の純増減額4,072-1,73913,557-
長期借入れ29,71138,22122,598-
長期借入金の返済-19,476-25,166-58,736-
社債の発行10,00035,00020,000-
社債の償還-24,284-15,426-426-
自己株式の取得-5,141-10,033-9,389-
自己株式の売却7520-
配当金の支払-18,007-18,878-19,509-
財務CF-10,205-14,1349,050-
換算差額-1,170-92-1,423-
その他
2018.32019.32020.32021.3E
設備投資額52,67261,92476,294-
研究開発費-35,80036,400-
発行済株式総数198,687,941株195,057,422株191,022,952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17,277人17,743人17,979人-
売上/従業員(千円)76,89683,57774,475-
営利/従業員(千円)5,9905,2663,984-
四半期売上(百万円)
売上5y CAGR・予想:-0.8 %
四半期利益(百万円)
営利5y CAGR・予想:-15.5 %
純利5y CAGR・予想:-15.5 %
P/L
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
売上959,8291,328,526356,263720,9151,114,7931,482,909345,003678,664999,0521,338,987254,484536,9791,175,000
前期比110.3%109.6%115.3%116.1%116.1%111.6%96.8%94.1%89.6%90.3%73.8%79.1%87.8%
売上原価733,9871,019,160275,550562,088874,7031,166,577266,723529,864777,8251,041,840204,709418,997-
売上総利益225,842309,36680,713158,827240,090316,33278,280148,800221,227297,14749,775117,982-
%23.5%23.3%22.7%22.0%21.5%21.3%22.7%21.9%22.1%22.2%19.6%22.0%-
販管費150,100205,87554,371109,087165,458222,90555,661111,434168,221225,51147,75898,420-
営業利益75,742103,49126,34249,74074,63293,42722,11736,86353,00671,636-4817,90152,000
前期比105.7%101.3%96.6%103.1%98.5%90.3%84.0%74.1%71.0%76.7%-0.2%48.6%72.6%
%7.9%7.8%7.4%6.9%6.7%6.3%6.4%5.4%5.3%5.4%-3.3%4.4%
受取利息および受取配当金3,0364,7881,5682,4883,6764,8621,5792,4933,7824,827---
持分法による投資利益4,6327,0634,5118,63511,00910,8072,1793,4963,4183,165-1,162-207-
営業外収益9,89417,3217,38013,08718,64520,7973,9726,78510,12012,274---
支払利息4,1105,4781,3952,8344,1905,5341,4612,8514,1955,501---
持分法による投資損失-------------
営業外費用6,78410,6072,3074,4207,07411,2524,8708,64312,66718,393---
経常利益78,852110,20531,41558,40786,203102,97221,14535,63950,45965,517-54615,746-
固定資産売却益2,7722,7782237447962422440453---
投資有価証券売却益718767271683,3903,663-41186192---
特別利益6,0916,472499484,17715,853624637,71424,804---
固定資産売却損794941756131532---
投資有価証券売却損-5,059168168168171-7724---
減損損失-15,012-6609181,4546036731,1512,508---
特別損失1,09822,4695833,6949,42713,5281,4779,82112,32621,861---
税引前利益83,84594,20830,88155,66180,953105,29721,14535,63945,84768,460-54615,746-
法人税等14,72615,1905,2469,65415,39918,7746,31910,60812,52822,1711,7804,726-
%17.6%16.1%17.0%17.3%19.0%17.8%29.9%29.8%27.3%32.4%-326.0%30.0%-
当期純利益69,11979,01825,63546,00765,55486,52314,82625,03133,31946,289-2,32611,020-
非支配株主に帰属する当期純利益8,2507,4332,1624,2477,64210,4082,2934,6706,1958,345-81,418-
親会社株主に帰属する当期純利益60,86971,58523,47341,76057,91276,11512,53320,36127,12437,944-2,3189,60233,000
前期比121.7%110.4%103.4%109.4%95.1%106.3%53.4%48.8%46.8%49.9%-18.5%47.2%87.0%
%6.3%5.4%6.6%5.8%5.2%5.1%3.6%3.0%2.7%2.8%-1.8%2.8%
 
EBITDA75,742149,14526,34274,00674,632142,93140,85473,82753,006123,742-55,815-
EPS358.0円360.3円383.1円383.0円389.9円390.2円194.5円194.5円194.5円198.6円199.0円193.6円137.8円
BPS2,548.5円2,574.8円2,645.9円2,785.1円2,753.5円2,829.5円2,815.7円2,798.2円2,823.2円2,761.9円2,745.8円2,798.0円-
期初会社予想
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
売上高(期初予)1,300,0001,300,0001,480,0001,480,0001,480,0001,480,0001,540,0001,540,0001,540,0001,540,0001,145,0001,145,0001,175,000
対実績比73.8%102.2%24.1%48.7%75.3%100.2%22.4%44.1%64.9%86.9%22.2%46.9%-
営業利益(期初予)98,00098,000106,000106,000106,000106,000105,000105,000105,000105,00037,00037,00052,000
対実績比77.3%105.6%24.9%46.9%70.4%88.1%21.1%35.1%50.5%68.2%-0.1%48.4%-
純利益(期初予)65,00065,00080,00080,00080,00080,00076,00076,00076,00076,00020,00020,00033,000
対実績比93.6%110.1%29.3%52.2%72.4%95.1%16.5%26.8%35.7%49.9%-11.6%48.0%-
配当
ROEデュポン分解
β
マルチプル
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
株価3,625円3,355円2,950円2,841円2,484円2,671円2,667円2,416円2,680円2,051円2,247円2,536円-
企業価値1,064,2511,028,016966,491947,637860,732899,654893,983825,401876,913793,443797,474822,408-
時価総額725,360670,868586,129564,466493,668521,417520,218471,419522,931391,788428,495496,943-
純有利子負債357,148380,362383,171367,064378,237373,765392,921353,982375,588401,655368,979325,465-
PER(会予)9.9倍8.6倍7.3倍7.1倍6.2倍6.5倍6.8倍6.2倍12.5倍7.8倍21.4倍18.4倍-
PBR1.5倍1.3倍1.1倍1.1倍0.9倍1.0倍0.9倍0.9倍1.0倍0.7倍0.8倍0.9倍-
PER × PBR14.8倍11.3倍8.4倍7.6倍5.5倍6.3倍6.5倍5.4倍11.9倍5.8倍17.5倍16.7倍-
EV/EBITDA(会予)7.2倍6.9倍6.4倍6.2倍5.7倍6.2倍5.8倍5.3倍6.6倍6.2倍8.9倍8.7倍-
PSR(会予)0.6倍0.5倍0.4倍0.4倍0.3倍0.3倍0.3倍0.3倍0.4倍0.3倍0.4倍0.4倍-
PCFR(会予)6.2倍5.5倍4.7倍4.5倍3.9倍4.1倍4.1倍3.8倍5.7倍3.8倍5.9倍6.3倍-
配当金-90.0円---100.0円---100.0円--100.0円
配当利回り1.9%2.1%3.1%3.2%3.6%3.4%3.7%4.1%3.7%4.9%4.5%3.9%-
配当性向-25.0%---25.6%---50.3%---
自己資本配当率2.1%2.1%3.8%3.6%3.6%3.5%3.6%3.6%3.5%3.6%3.6%3.6%-
ROE14.0%14.0%14.5%13.8%14.2%13.8%6.9%6.9%6.9%7.2%7.2%6.9%-
純利益率(再掲)6.3%5.4%6.6%5.8%5.2%5.1%3.6%3.0%2.7%2.8%-1.8%-
総資産回転率1.0回0.9回1.0回1.0回1.0回1.0回0.9回0.9回0.9回0.9回0.9回0.9回-
財務レバレッジ2.7倍2.8倍2.8倍2.7倍2.8倍2.7倍2.7倍2.7倍2.7倍2.8倍2.9倍2.8倍-
実質ROE13.6%13.5%14.0%13.3%13.4%13.1%6.6%6.6%6.5%6.7%6.7%6.6%-
ROIC9.5%9.1%7.4%7.3%7.4%7.2%4.8%4.8%4.7%4.6%4.4%4.5%-
ROA5.2%5.0%5.2%5.1%5.1%5.1%2.5%2.6%2.6%2.6%2.5%2.5%-
β0.910.981.001.041.121.161.201.271.261.231.171.20-
βの決定係数(R2)0.300.360.320.350.440.460.480.520.520.540.550.50-
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.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
流動資産
現金63,82580,20995,25596,82896,418111,05690,911123,801118,529149,348230,828229,554-
売上債権270,631306,899301,700299,462304,089310,591292,796257,978271,625275,332224,052226,994-
棚卸資産271,288274,342285,561309,835315,710301,890302,401293,581293,319288,006260,124257,746-
有価証券----------27,52029,494-
前払金-------------
繰延税金資産14,86918,226-----------
貸倒引当金-543-673-661-637-627-718-756-725-698-3,509---
流動資産694,995731,326751,866774,843786,789786,677753,556738,924752,372781,347763,225756,069-
固定資産
建物・構築物337,869343,555345,322349,478350,481352,569352,175353,803357,144365,837---
機械・運搬具994,907997,5631,001,0911,015,8251,020,7041,030,9491,027,3801,034,9711,038,0621,041,644---
土地155,473159,018158,989158,355154,540156,556156,502156,593156,616156,646---
建設仮勘定20,63120,46222,98818,25315,41718,51527,60530,91436,80929,910---
有形固定資産417,765432,908432,522436,923432,035443,063465,096470,758477,323485,531450,613454,105-
のれん7,6685,6845,5345,3795,2075,0614,8864,7224,5694,4121,4721,467-
無形固定資産36,44631,47630,78430,63629,62629,38529,93229,18229,13828,94124,15624,084-
投資有価証券166,721159,428160,183170,880152,322151,847150,701150,198141,506110,340---
繰延税金資産5,90610,67310,99910,98911,68511,386----9,0389,171-
貸倒引当金-2,454-2,420-2,549-2,559-2,356-2,448-2,431-2,416-2,427-2,808---
敷金および保証金-------------
投資その他の資産232,463235,599238,803248,835231,151241,949242,042235,085225,429184,248---
固定資産686,674699,983702,109716,394692,812714,397737,070735,025731,890698,720750,026754,383-
総資産1,381,6691,431,3091,453,9751,491,2371,479,6011,501,0741,490,6261,473,9491,484,2621,480,0671,513,2511,510,452-
 
負債
有利子負債合計420,973460,571478,426463,892474,655484,821483,832477,783494,117551,003599,807555,019-
仕入債務154,310162,179164,180173,177176,577163,908144,233135,928138,682128,45800-
前受金-------------
未払法人税等4,8387,9566,1787,8787,1759,3725,2756,8334,8155,3833,4183,851-
繰延税金負債(固定)28,31813,24013,97916,22512,92811,471----22,58222,385-
負債802,947844,087854,197863,027865,135869,335863,485850,320854,553872,046912,065893,746-
 
純資産
資本金125,125125,125125,125125,205125,205125,205125,205125,298125,298125,298125,298125,331-
資本剰余金89,32689,32789,32789,40789,40689,40689,40689,51489,51489,51480,83474,009-
利益剰余金279,822291,000305,531323,818330,000348,202350,660349,897355,507366,330359,098376,511-
自己株式-15,255-19,842-19,850-19,856-29,491-29,869-29,873-29,878-29,890-39,254-39,896-24,864-
非支配株主持分69,12675,63674,08274,69776,94079,82477,92977,63978,84280,43277,56968,431-
純資産578,722587,222599,778628,210614,466631,739627,141623,629629,709608,021601,186616,706-
キャッシュフロー(百万円)
C/S
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
営業CF
税金等調整前当期純利益83,84594,20830,88155,66180,953105,29721,14535,63945,84768,460-54615,746-
減価償却費-44,835-23,937-48,85318,73736,634-51,46418,87537,914-
のれん償却額-819-329-651-330-642---
減損損失-15,012-6609181,4546036731,1512,508---
受取利息及び受取配当金--4,788--2,488--4,862-1,584-2,484--4,827-690-1,126-
売上債権の増減額--23,381-9,275--3,255-50,170-33,033---
棚卸資産の増減額--26,419--32,165--26,629-1,2056,716-11,25523,62925,360-
仕入債務の増減額-13,786-9,893-1,300--27,096--34,544---
営業CF-82,660-53,461-109,49217,78990,356-114,97450,256111,103-
投資CF
有価証券の取得0-3,9860-6980-23,9520-2610-6,21700-
有価証券の売却・償還01,521030509,434073058400-
固定資産の購入0-52,6720-27,0810-55,755-19,908-51,3360-76,342-21,467-35,979-
固定資産の売却02,83905004,016064801,00700-
貸付け--5,208--104--90--1,075--2,175---
貸付金の回収-------------
投資CF--75,041--26,808--64,255-20,698-53,105--85,168-24,855-39,426-
財務CF
短期借入金の純増減額-4,072-3,853--1,7398,2396,952-13,55717,893-4,271-
長期借入れ-29,711-8,183-38,2214,1273,157-22,59819,57419,554-
長期借入金の返済--19,476--19,768--25,166-1,775-8,858--58,736-3,216-5,009-
社債の発行-10,000-35,000-35,000---20,000---
社債の償還--24,284--15,214--15,426-71-213--426-71-213-
自己株式の取得--5,141--14--10,033-5-10--9,389-643-654-
自己株式の売却-7-1-5-17-20---
配当金の支払--18,007--8,941--18,878-9,753-9,753--19,509-9,551-9,551-
財務CF--10,205--11,994--14,134-4,610-17,411-9,05041,232-5,737-
換算差額--1,170-621--92-796-1,656--1,423-376-957-
その他
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
設備投資額052,672027,081061,92419,90851,336076,29421,46735,979-
研究開発費-----35,800---36,400---
発行済株式総数199,960,743株198,687,941株198,685,522株198,739,297株195,214,203株195,057,422株195,055,654株195,123,676株195,119,058株191,022,952株190,696,705株195,955,612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.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
従業員数-17,277人---17,743人---17,979人---
売上/従業員(千円)-76,896---83,577---74,475---
営利/従業員(千円)-5,990---5,266---3,984---
四半期売上(百万円)
売上5y CAGR・予想:-0.8 %
四半期利益(百万円)
営利5y CAGR・予想:-15.5 %
純利5y CAGR・予想:-15.5 %
P/L
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
売上338,974368,697356,263364,652393,878368,116345,003333,661320,388339,935254,484282,4951,175,000
前期比112.5%107.7%115.3%116.9%116.2%99.8%96.8%91.5%81.3%92.3%73.8%84.7%87.8%
売上原価259,519285,173275,550286,538312,615291,874266,723263,141247,961264,015204,709214,288-
売上総利益79,45583,52480,71378,11481,26376,24278,28070,52072,42775,92049,77568,207-
%23.4%22.7%22.7%21.4%20.6%20.7%22.7%21.1%22.6%22.3%19.6%24.1%-
販管費51,96055,77554,37154,71656,37157,44755,66155,77356,78757,29047,75850,662-
営業利益27,49527,74926,34223,39824,89218,79522,11714,74616,14318,630-4817,94952,000
前期比104.6%91.0%96.6%111.5%90.5%67.7%84.0%63.0%64.9%99.1%-0.2%121.7%72.6%
%8.1%7.5%7.4%6.4%6.3%5.1%6.4%4.4%5.0%5.5%0.0%6.4%4.4%
受取利息および受取配当金001,5680001,579000-0-
持分法による投資利益2,2882,4314,5114,1242,374-2022,1791,317-78-253-1,162955-
営業外収益3,1337,4277,3805,7075,5582,1523,9722,8133,3352,154-0-
支払利息1,3751,3681,3951,4391,3561,3441,4611,3901,3441,306-0-
持分法による投資損失00-000-000-0-
営業外費用1,7203,8232,3072,1132,6544,1784,8703,7734,0245,726-0-
経常利益28,90831,35331,41526,99227,79616,76921,14514,49414,82015,058-54616,292-
固定資産売却益21762215735623601813-0-
投資有価証券売却益3949271413,222273-411456-0-
特別利益847381498993,22911,676624017,25117,090-0-
固定資産売却損3245323467217-0-
投資有価証券売却損05,059168003-7017-0-
減損損失015,012-660258536603704781,357-0-
特別損失65421,3715833,1115,7334,1011,4778,3442,5059,535-0-
税引前利益29,10110,36330,88124,78025,29224,34421,14514,49410,20822,613-54616,292-
法人税等4,1664645,2464,4085,7453,3756,3194,2891,9209,6431,7802,946-
%14.3%4.5%17.0%17.8%22.7%13.9%29.9%29.6%18.8%42.6%-326.0%18.1%-
当期純利益24,9359,89925,63520,37219,54720,96914,82610,2058,28812,970-2,32613,346-
非支配株主に帰属する当期純利益2,250-8172,1622,0853,3952,7662,2932,3771,5252,150-81,426-
親会社株主に帰属する当期純利益22,68510,71623,47318,28716,15218,20312,5337,8286,76310,820-2,31811,92033,000
前期比101.9%72.4%103.4%118.2%71.2%169.9%53.4%42.8%41.9%59.4%-18.5%152.3%87.0%
%6.7%2.9%6.6%5.0%4.1%4.9%3.6%2.3%2.1%3.2%-0.9%4.2%2.8%
 
EBITDA75,742149,14526,34274,00674,632142,93140,85473,82753,006123,742-55,815-
EPS358.0円360.3円383.1円383.0円389.9円390.2円194.5円194.5円194.5円198.6円199.0円193.6円137.8円
BPS2,548.5円2,574.8円2,645.9円2,785.1円2,753.5円2,829.5円2,815.7円2,798.2円2,823.2円2,761.9円2,745.8円2,798.0円-
期初会社予想
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
売上高(期初予)1,300,0001,300,0001,480,0001,480,0001,480,0001,480,0001,540,0001,540,0001,540,0001,540,0001,145,0001,145,0001,175,000
対実績比73.8%102.2%24.1%48.7%75.3%100.2%22.4%44.1%64.9%86.9%22.2%46.9%-
営業利益(期初予)98,00098,000106,000106,000106,000106,000105,000105,000105,000105,00037,00037,00052,000
対実績比77.3%105.6%24.9%46.9%70.4%88.1%21.1%35.1%50.5%68.2%-0.1%48.4%-
純利益(期初予)65,00065,00080,00080,00080,00080,00076,00076,00076,00076,00020,00020,00033,000
対実績比93.6%110.1%29.3%52.2%72.4%95.1%16.5%26.8%35.7%49.9%-11.6%48.0%-
配当
ROEデュポン分解
β
マルチプル
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
株価3,625円3,355円2,950円2,841円2,484円2,671円2,667円2,416円2,680円2,051円2,247円2,536円-
企業価値1,064,2511,028,016966,491947,637860,732899,654893,983825,401876,913793,443797,474822,408-
時価総額725,360670,868586,129564,466493,668521,417520,218471,419522,931391,788428,495496,943-
純有利子負債357,148380,362383,171367,064378,237373,765392,921353,982375,588401,655368,979325,465-
PER(会予)9.9倍8.6倍7.3倍7.1倍6.2倍6.5倍6.8倍6.2倍12.5倍7.8倍21.4倍18.4倍-
PBR1.5倍1.3倍1.1倍1.1倍0.9倍1.0倍0.9倍0.9倍1.0倍0.7倍0.8倍0.9倍-
PER × PBR14.8倍11.3倍8.4倍7.6倍5.5倍6.3倍6.5倍5.4倍11.9倍5.8倍17.5倍16.7倍-
EV/EBITDA(会予)7.2倍6.9倍6.4倍6.2倍5.7倍6.2倍5.8倍5.3倍6.6倍6.2倍8.9倍8.7倍-
PSR(会予)0.6倍0.5倍0.4倍0.4倍0.3倍0.3倍0.3倍0.3倍0.4倍0.3倍0.4倍0.4倍-
PCFR(会予)6.2倍5.5倍4.7倍4.5倍3.9倍4.1倍4.1倍3.8倍5.7倍3.8倍5.9倍6.3倍-
配当金-90.0円---100.0円---100.0円--100.0円
配当利回り1.9%2.1%3.1%3.2%3.6%3.4%3.7%4.1%3.7%4.9%4.5%3.9%-
配当性向-25.0%---25.6%---50.3%---
自己資本配当率2.1%2.1%3.8%3.6%3.6%3.5%3.6%3.6%3.5%3.6%3.6%3.6%-
ROE14.0%14.0%14.5%13.8%14.2%13.8%6.9%6.9%6.9%7.2%7.2%6.9%-
純利益率(再掲)6.3%5.4%6.6%5.8%5.2%5.1%3.6%3.0%2.7%2.8%-1.8%-
総資産回転率1.0回0.9回1.0回1.0回1.0回1.0回0.9回0.9回0.9回0.9回0.9回0.9回-
財務レバレッジ2.7倍2.8倍2.8倍2.7倍2.8倍2.7倍2.7倍2.7倍2.7倍2.8倍2.9倍2.8倍-
実質ROE13.6%13.5%14.0%13.3%13.4%13.1%6.6%6.6%6.5%6.7%6.7%6.6%-
ROIC9.5%9.1%7.4%7.3%7.4%7.2%4.8%4.8%4.7%4.6%4.4%4.5%-
ROA5.2%5.0%5.2%5.1%5.1%5.1%2.5%2.6%2.6%2.6%2.5%2.5%-
β0.910.981.001.041.121.161.201.271.261.231.171.20-
βの決定係数(R2)0.300.360.320.350.440.460.480.520.520.540.550.50-
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.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
流動資産
現金63,82580,20995,25596,82896,418111,05690,911123,801118,529149,348230,828229,554-
売上債権270,631306,899301,700299,462304,089310,591292,796257,978271,625275,332224,052226,994-
棚卸資産271,288274,342285,561309,835315,710301,890302,401293,581293,319288,006260,124257,746-
有価証券----------27,52029,494-
前払金-------------
繰延税金資産14,86918,226-----------
貸倒引当金-543-673-661-637-627-718-756-725-698-3,509---
流動資産694,995731,326751,866774,843786,789786,677753,556738,924752,372781,347763,225756,069-
固定資産
建物・構築物337,869343,555345,322349,478350,481352,569352,175353,803357,144365,837---
機械・運搬具994,907997,5631,001,0911,015,8251,020,7041,030,9491,027,3801,034,9711,038,0621,041,644---
土地155,473159,018158,989158,355154,540156,556156,502156,593156,616156,646---
建設仮勘定20,63120,46222,98818,25315,41718,51527,60530,91436,80929,910---
有形固定資産417,765432,908432,522436,923432,035443,063465,096470,758477,323485,531450,613454,105-
のれん7,6685,6845,5345,3795,2075,0614,8864,7224,5694,4121,4721,467-
無形固定資産36,44631,47630,78430,63629,62629,38529,93229,18229,13828,94124,15624,084-
投資有価証券166,721159,428160,183170,880152,322151,847150,701150,198141,506110,340---
繰延税金資産5,90610,67310,99910,98911,68511,386----9,0389,171-
貸倒引当金-2,454-2,420-2,549-2,559-2,356-2,448-2,431-2,416-2,427-2,808---
敷金および保証金-------------
投資その他の資産232,463235,599238,803248,835231,151241,949242,042235,085225,429184,248---
固定資産686,674699,983702,109716,394692,812714,397737,070735,025731,890698,720750,026754,383-
総資産1,381,6691,431,3091,453,9751,491,2371,479,6011,501,0741,490,6261,473,9491,484,2621,480,0671,513,2511,510,452-
 
負債
有利子負債合計420,973460,571478,426463,892474,655484,821483,832477,783494,117551,003599,807555,019-
仕入債務154,310162,179164,180173,177176,577163,908144,233135,928138,682128,45800-
前受金-------------
未払法人税等4,8387,9566,1787,8787,1759,3725,2756,8334,8155,3833,4183,851-
繰延税金負債(固定)28,31813,24013,97916,22512,92811,471----22,58222,385-
負債802,947844,087854,197863,027865,135869,335863,485850,320854,553872,046912,065893,746-
 
純資産
資本金125,125125,125125,125125,205125,205125,205125,205125,298125,298125,298125,298125,331-
資本剰余金89,32689,32789,32789,40789,40689,40689,40689,51489,51489,51480,83474,009-
利益剰余金279,822291,000305,531323,818330,000348,202350,660349,897355,507366,330359,098376,511-
自己株式-15,255-19,842-19,850-19,856-29,491-29,869-29,873-29,878-29,890-39,254-39,896-24,864-
非支配株主持分69,12675,63674,08274,69776,94079,82477,92977,63978,84280,43277,56968,431-
純資産578,722587,222599,778628,210614,466631,739627,141623,629629,709608,021601,186616,706-
キャッシュフロー(百万円)
C/S
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
営業CF
税金等調整前当期純利益83,84594,20830,88155,66180,953105,29721,14535,63945,84768,460-54615,746-
減価償却費-44,835-23,937-48,85318,73736,634-51,46418,87537,914-
のれん償却額-819-329-651-330-642---
減損損失015,012-660258536603704781,357-0-
受取利息及び受取配当金--4,788--2,488--4,862-1,584-2,484--4,827-690-1,126-
売上債権の増減額--23,381-9,275--3,255-50,170-33,033---
棚卸資産の増減額--26,419--32,165--26,629-1,2056,716-11,25523,62925,360-
仕入債務の増減額-13,786-9,893-1,300--27,096--34,544---
営業CF-82,660-53,461-109,49217,78990,356-114,97450,256111,103-
投資CF
有価証券の取得0-3,9860-6980-23,9520-2610-6,21700-
有価証券の売却・償還01,521030509,434073058400-
固定資産の購入0-52,6720-27,0810-55,755-19,908-51,3360-76,342-21,467-35,979-
固定資産の売却02,83905004,016064801,00700-
貸付け--5,208--104--90--1,075--2,175---
貸付金の回収-------------
投資CF--75,041--26,808--64,255-20,698-53,105--85,168-24,855-39,426-
財務CF
短期借入金の純増減額-4,072-3,853--1,7398,2396,952-13,55717,893-4,271-
長期借入れ-29,711-8,183-38,2214,1273,157-22,59819,57419,554-
長期借入金の返済--19,476--19,768--25,166-1,775-8,858--58,736-3,216-5,009-
社債の発行-10,000-35,000-35,000---20,000---
社債の償還--24,284--15,214--15,426-71-213--426-71-213-
自己株式の取得--5,141--14--10,033-5-10--9,389-643-654-
自己株式の売却-7-1-5-17-20---
配当金の支払--18,007--8,941--18,878-9,753-9,753--19,509-9,551-9,551-
財務CF--10,205--11,994--14,134-4,610-17,411-9,05041,232-5,737-
換算差額--1,170-621--92-796-1,656--1,423-376-957-
その他
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
設備投資額052,672027,081061,92419,90851,336076,29421,46735,979-
研究開発費-----35,800---36,400---
発行済株式総数199,960,743株198,687,941株198,685,522株198,739,297株195,214,203株195,057,422株195,055,654株195,123,676株195,119,058株191,022,952株190,696,705株195,955,612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.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
従業員数-17,277人---17,743人---17,979人---
売上/従業員(千円)-76,896---83,577---74,475---
営利/従業員(千円)-5,990---5,266---3,984---