通期売上(百万円)
売上5y CAGR・予想:-0.1 %
通期利益(百万円)
営利5y CAGR・予想:-7.1 %
純利5y CAGR・予想:-12.8 %
P/L
2018.32019.32020.32021.3E
売上695,574730,157667,892614,000
前期比112.8%105.0%91.5%91.9%
売上原価560,100600,301549,698-
売上総利益135,474129,856118,194-
%19.5%17.8%17.7%-
販管費85,22485,30584,161-
営業利益50,25044,55134,03326,000
前期比143.7%88.7%76.4%76.4%
%7.2%6.1%5.1%4.2%
受取利息および受取配当金1,2642,0391,449-
持分法による投資利益3,6124,9142,329-
営業外収益7,68711,3759,906-
支払利息1,4081,083971-
持分法による投資損失----
営業外費用7,2098,0738,215-
経常利益50,72847,85335,72423,500
固定資産売却益14279296-
投資有価証券売却益11191,015-
特別利益7448611,311-
固定資産売却損----
投資有価証券売却損163964298-
減損損失3,6678825,236-
特別損失6,4724,0366,671-
税引前利益45,00044,67830,364-
法人税等11,86310,4187,658-
%25.5%26.4%25.2%-
当期純利益33,13734,26022,706-
非支配株主に帰属する当期純利益1,4571,761-270-
親会社株主に帰属する当期純利益31,68032,49922,97614,000
前期比131.0%102.6%70.7%60.9%
%3.9%4.6%3.4%2.3%
 
EBITDA69,45085,60370,86072,827
EPS301.7円321.6円227.3円217.6円
BPS3,002.9円3,261.2円3,287.7円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)700,000740,000760,000614,000
対実績比99.4%98.7%87.9%-
営業利益(期初予)40,00044,00047,00026,000
対実績比125.6%101.3%72.4%-
純利益(期初予)24,50030,50031,00014,000
対実績比129.3%106.6%74.1%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価3,105円2,275円1,657円-
企業価値492,629401,000317,017-
時価総額326,009234,408167,525-
純有利子負債166,620166,592149,492-
PER(会予)11.2倍7.7倍7.6倍-
PBR1.0倍0.7倍0.5倍-
PER × PBR11.7倍5.6倍3.8倍-
EV/EBITDA(会予)6.2倍5.1倍4.4倍-
PSR(会予)0.5倍0.3倍0.2倍-
PCFR(会予)5.1倍3.6倍2.8倍-
配当金75.0円80.0円90.0円90.0円
配当利回り1.9%3.3%5.4%-
配当性向24.9%24.9%39.6%-
自己資本配当率2.5%2.5%2.7%-
ROE10.0%9.9%6.9%-
純利益率(再掲)4.6%4.5%3.4%-
総資産回転率0.9回1.0回0.9回-
財務レバレッジ2.3倍2.3倍2.2倍-
実質ROE10.0%9.5%6.7%-
ROIC7.5%6.6%5.0%-
ROA4.3%4.4%3.2%-
β0.951.281.36-
βの決定係数(R2)0.380.560.67-
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49,05932,90341,226-
売上債権159,626167,389158,140-
棚卸資産97,888104,96493,742-
有価証券----
前払金----
繰延税金資産6,524---
貸倒引当金-577-599-505-
流動資産323,400315,699303,956-
固定資産
建物・構築物272,819278,005276,154-
機械・運搬具664,135667,722675,230-
土地81,26080,51076,059-
建設仮勘定14,51410,03815,217-
有形固定資産334,262331,316330,042-
のれん-643524-
無形固定資産5,0067,1067,414-
投資有価証券54,80455,56753,326-
繰延税金資産6,51812,151--
貸倒引当金-606-628-497-
敷金および保証金----
投資その他の資産80,30586,00285,689-
固定資産419,573424,424423,145-
総資産743,129740,286727,269-
 
負債
有利子負債合計203,662199,013190,718-
仕入債務99,912106,65192,620-
前受金----
未払法人税等6,0274,1064,369-
繰延税金負債(固定)2,4781,964--
負債406,268385,734372,822-
 
純資産
資本金58,43558,43558,435-
資本剰余金38,29140,35540,300-
利益剰余金211,065235,671245,980-
自己株式-2,958-12,798-12,645-
非支配株主持分20,83724,40621,479-
純資産336,861354,552354,447-
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45,00044,67830,364-
減価償却費35,35336,42036,827-
のれん償却額----
減損損失3,6678825,236-
受取利息及び受取配当金-1,264-2,039-1,449-
売上債権の増減額-1,978-9,15912,187-
棚卸資産の増減額-6,803-5,5901,926-
仕入債務の増減額6,500-1,937-8,557-
営業CF73,38650,46268,489-
投資CF
有価証券の取得-245-122-260-
有価証券の売却・償還2151,362-
固定資産の購入-33,769-42,763-42,651-
固定資産の売却8662,2051,540-
貸付け-10-44-12-
貸付金の回収694832-
投資CF-33,978-42,663-40,632-
財務CF
短期借入金の純増減額-5,345-9,335-6,583-
長期借入れ15,88728,83628,193-
長期借入金の返済-20,313-28,043-19,309-
社債の発行19,9089,9559,955-
社債の償還-15,020-10,010-10,000-
自己株式の取得-5,042-10,009-7-
自己株式の売却----
配当金の支払-6,347-7,876-12,625-
財務CF-28,559-24,034-18,931-
換算差額6071-612-
その他
2018.32019.32020.32021.3E
設備投資額40,33641,74147,615-
研究開発費13,01611,78312,137-
発行済株式総数105,017,223株101,041,683株101,101,578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10,799人11,010人10,890人-
売上/従業員(千円)56,42064,41161,331-
営利/従業員(千円)3,1994,6533,125-
四半期売上(百万円)
売上5y CAGR・予想:-0.1 %
四半期利益(百万円)
営利5y CAGR・予想:-7.1 %
純利5y CAGR・予想:-12.8 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上159,611327,159507,056695,574169,078348,268540,468730,157165,058335,062497,867667,892614,000
前期比115.6%116.4%115.3%112.8%105.9%106.5%106.6%105.0%97.6%96.2%92.1%91.5%91.9%
売上原価130,009263,500406,964560,100142,318291,741447,167600,301136,738276,263409,045549,698-
売上総利益29,60263,659100,092135,47426,76056,52793,301129,85628,32058,79988,822118,194-
%18.5%19.5%19.7%19.5%15.8%16.2%17.3%17.8%17.2%17.5%17.8%17.7%-
販管費20,50441,04262,47985,22420,64641,48563,25885,30521,00242,04463,41484,161-
営業利益9,09822,61737,61350,2506,11415,04230,04344,5517,31816,75525,40834,03326,000
前期比558.8%196.4%165.7%143.7%67.2%66.5%79.9%88.7%119.7%111.4%84.6%76.4%76.4%
%5.7%6.9%7.4%7.2%3.6%4.3%5.6%6.1%4.4%5.0%5.1%5.1%4.2%
受取利息および受取配当金7069241,1131,2641,5041,7071,9232,0397491,1151,3361,449-
持分法による投資利益9111,5962,8623,6122,7582,8023,7764,9146139951,8262,329-
営業外収益2,5434,3856,5597,6875,9557,3258,74511,3752,1903,6235,3249,906-
支払利息3597311,0661,4082945648291,083254506737971-
持分法による投資損失-------------
営業外費用1,4593,2755,1037,2091,8253,6715,3588,0731,7713,7365,7858,215-
経常利益10,18223,72739,06950,72810,24418,69633,43047,8537,73716,64224,94735,72423,500
固定資産売却益-63914237375879-910296-
投資有価証券売却益-88116151919-48621,015-
特別利益304477744435277861-57721,311-
固定資産売却損-------------
投資有価証券売却損-551638811964263291257298-
減損損失-71713,66795154154882-1804,7975,236-
特別損失1735171,0516,4721731,0601,8714,0364769135,6676,671-
税引前利益10,03923,25438,09545,00010,11417,68831,63644,6787,26115,78619,35230,364-
法人税等3,3957,02810,41411,8632,9804,8037,43810,4182,6964,9344,3187,658-
%25.5%25.5%25.5%25.5%26.4%26.4%26.4%26.4%23.3%23.3%23.3%25.2%-
当期純利益6,64416,22627,68133,1377,13412,88524,19834,2604,56510,85215,03422,706-
非支配株主に帰属する当期純利益684451,0111,4572105331,3531,7612462-142-270-
親会社株主に帰属する当期純利益6,57615,78126,67031,6806,92412,35222,84532,4994,54110,79015,17622,97614,000
前期比3,715.3%222.1%177.0%131.0%105.3%78.3%85.7%102.6%65.6%87.4%66.4%70.7%60.9%
%3.9%3.9%3.9%3.9%4.6%4.6%4.6%4.6%4.5%4.5%4.5%3.4%2.3%
 
EBITDA69,45069,45069,45069,45085,60385,60385,60385,60380,97180,97180,97170,86072,827
EPS303.3円301.7円301.7円301.7円309.4円309.4円315.4円321.6円227.4円227.3円227.3円227.3円217.6円
BPS2,740.2円2,863.2円2,985.3円3,002.9円2,973.8円3,070.4円3,136.4円3,261.2円3,214.2円3,268.9円3,298.2円3,287.7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)700,000700,000700,000700,000740,000740,000740,000740,000760,000760,000760,000760,000614,000
対実績比22.8%46.7%72.4%99.4%22.8%47.1%73.0%98.7%21.7%44.1%65.5%87.9%-
営業利益(期初予)40,00040,00040,00040,00044,00044,00044,00044,00047,00047,00047,00047,00026,000
対実績比22.7%56.5%94.0%125.6%13.9%34.2%68.3%101.3%15.6%35.6%54.1%72.4%-
純利益(期初予)24,50024,50024,50024,50030,50030,50030,50030,50031,00031,00031,00031,00014,000
対実績比26.8%64.4%108.9%129.3%22.7%40.5%74.9%106.6%14.6%34.8%49.0%74.1%-
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2,890円3,250円3,315円3,105円2,879円3,090円2,234円2,275円2,234円2,179円2,379円1,657円-
企業価値472,969510,569516,340492,629448,831473,637389,014401,000380,123366,592386,806317,017-
時価総額301,840339,440348,055326,009302,345324,591234,684234,408225,727220,233240,447167,525-
純有利子負債171,129171,129168,285166,620146,486149,046154,330166,592154,396146,359146,359149,492-
PER(会予)12.3倍13.9倍12.0倍11.2倍9.9倍10.6倍7.7倍7.7倍7.3倍7.1倍8.7倍7.6倍-
PBR1.1倍1.2倍1.2倍1.0倍1.0倍1.0倍0.7倍0.7倍0.7倍0.7倍0.7倍0.5倍-
PER × PBR13.0倍16.4倍13.9倍11.7倍9.5倍11.1倍5.6倍5.6倍5.0倍4.7倍6.4倍3.8倍-
EV/EBITDA(会予)6.3倍6.9倍6.5倍6.2倍5.7倍6.0倍4.9倍5.1倍4.6倍4.4倍4.9倍4.4倍-
PSR(会予)0.4倍0.5倍0.5倍0.5倍0.4倍0.4倍0.3倍0.3倍0.3倍0.3倍0.3倍0.2倍-
PCFR(会予)5.1倍5.8倍5.5倍5.1倍4.6倍4.9倍3.6倍3.6倍3.3倍3.3倍3.8倍2.8倍-
配当金---75.0円---80.0円---90.0円90.0円
配当利回り2.1%1.8%1.8%1.9%2.6%2.4%3.4%3.3%3.6%3.7%3.4%5.4%-
配当性向---24.9%---24.9%---39.6%-
自己資本配当率2.7%2.6%2.5%2.5%2.7%2.6%2.6%2.5%2.8%2.8%2.7%2.7%-
ROE11.1%10.5%10.1%10.0%10.4%10.1%10.1%9.9%7.1%7.0%6.9%6.9%-
純利益率(再掲)4.1%4.8%5.3%4.6%4.1%3.5%4.2%4.5%2.8%3.2%3.0%3.4%-
総資産回転率1.0回1.0回0.9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-
財務レバレッジ2.5倍2.5倍2.4倍2.3倍2.4倍2.3倍2.3倍2.3倍2.2倍2.2倍2.2倍2.2倍-
実質ROE10.9%10.4%10.0%10.0%10.3%10.0%9.8%9.5%6.8%6.7%6.6%6.7%-
ROIC7.7%7.6%7.4%7.5%6.9%6.6%6.5%6.6%5.1%5.2%5.1%5.0%-
ROA4.5%4.4%4.3%4.3%4.5%4.4%4.4%4.4%3.1%3.2%3.2%3.2%-
β1.031.000.930.951.111.081.221.281.301.341.381.36-
βの決定係数(R2)0.380.360.340.380.430.420.530.560.580.600.640.67-
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42,87237,65337,04249,05934,66936,40332,42132,90333,26132,28829,96441,226-
売上債権143,828143,828151,717159,626162,739156,429154,969167,389171,611146,036146,036158,140-
棚卸資産90,04490,04496,26397,88890,92996,352102,530104,96496,764102,120102,12093,742-
有価証券-------------
前払金-------------
繰延税金資産---6,524---------
貸倒引当金-530-474-494-577-536-537-586-599-519-472-482-505-
流動資産296,408305,437315,109323,400303,229310,232323,781315,699308,109292,202302,758303,956-
固定資産
建物・構築物83,62883,73785,532272,81984,36583,74086,458278,00587,37387,03585,332276,154-
機械・運搬具136,196135,854141,249664,135141,342140,364135,706667,722139,420135,506134,224675,230-
土地84,15884,20584,18881,26080,70380,80580,59480,51080,55380,11276,89776,059-
建設仮勘定---14,514---10,038---15,217-
有形固定資産330,214331,577333,714334,262329,099329,371326,146331,316328,203330,342326,793330,042-
のれん-------643536533521524-
無形固定資産5,2175,0725,0575,0065,6686,4476,2177,1067,7987,6147,4027,414-
投資有価証券53,09055,06056,30654,80455,94957,15555,10455,56755,01955,51157,32153,326-
繰延税金資産---6,518---12,151-----
貸倒引当金-674-631-624-606-605-605-648-628-625-624-615-497-
敷金および保証金-------------
投資その他の資産78,52580,05180,82080,30587,42188,25786,86386,00285,77186,33388,64785,689-
固定資産413,956416,700419,591419,573422,188424,075419,226424,424421,772424,289422,842423,145-
総資産710,555722,314734,867743,129725,563734,444743,180740,286730,034716,679725,778727,269-
 
負債
有利子負債合計214,001214,001205,938203,662195,545183,715190,733199,013187,299178,647178,647190,718-
仕入債務91,04891,04898,15299,912104,532105,362106,889106,651102,22389,64589,64592,620-
前受金-------------
未払法人税等2,5705,9775,0596,0272,1024,0813,2324,1061,8834,0651,8834,369-
繰延税金負債(固定)---2,478---1,964-----
負債400,649400,487399,294406,268392,300390,603398,335385,734380,581361,923368,471372,822-
 
純資産
資本金58,43558,43558,43558,43558,43558,43558,43558,43558,43558,43558,43558,435-
資本剰余金38,08438,49738,50538,29138,30738,36738,36840,35540,35140,34640,35540,300-
利益剰余金185,961195,166206,055211,065210,096215,524226,017235,671232,111238,360238,188245,980-
自己株式-4,526-2,997-3,010-2,958-2,879-2,865-7,860-12,798-12,754-12,724-12,723-12,645-
非支配株主持分23,09920,55021,45520,83720,26820,65921,03624,40624,03923,76323,33921,479-
純資産309,906321,827335,573336,861333,263343,841344,845354,552349,453354,756357,307354,447-
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10,03923,25438,09545,00010,11417,68831,63644,6787,26115,78619,35230,364-
減価償却費8,59917,22026,15635,3538,93017,89926,93836,4209,08918,18627,29236,827-
のれん償却額-------------
減損損失-71713,66795154154882-1804,7975,236-
受取利息及び受取配当金-706-924-1,113-1,264-1,504-1,707-1,923-2,039-749-1,115-1,336-1,449-
売上債権の増減額15,9158,8091,623-1,9785,8167,893-5,378-9,15916,23324,75715,67012,187-
棚卸資産の増減額-6,325-11,937-13,128-6,803-6,007-11,206-14,427-5,590-8,096-5,800-5,1731,926-
仕入債務の増減額-6,2046512,1896,5008912,0692,472-1,937-6,775-10,106-5,596-8,557-
営業CF19,00831,01842,57673,38613,04121,68121,12450,46215,57036,75146,17868,489-
投資CF
有価証券の取得-82-141-143-245-42-47-119-122-42-177-259-260-
有価証券の売却・償還013132105550881061,362-
固定資産の購入-6,951-15,619-25,623-33,769-9,173-22,298-28,817-42,763-10,063-20,339-30,909-42,651-
固定資産の売却8232478664896999102,2052734386061,540-
貸付け----10----44----12-
貸付金の回収---69---48---32-
投資CF-7,745-16,428-26,206-33,978-8,822-22,107-28,538-42,663-10,238-20,815-31,097-40,632-
財務CF
短期借入金の純増減額-2,162-2,035-2,989-5,345-1,8503,1169,689-9,335-484-2,030-2,463-6,583-
長期借入れ27815,27815,30915,8874692,1652,64128,8362,0864,9947,54328,193-
長期借入金の返済-2,633-10,998-12,536-20,313-3,632-15,367-18,044-28,043-1,985-9,879-13,467-19,309-
社債の発行19,90819,90819,90819,908--9,9559,955-9,9559,9559,955-
社債の償還--15,010-15,010-15,020-10,000-10,010-10,010-10,010-10,000-10,000-10,000-10,000-
自己株式の取得-3,820-5,011-5,037-5,042-2-5-5,007-10,009-1-3-5-7-
自己株式の売却-------------
配当金の支払-6,364-6,340-6,344-6,347-7,894-7,903-7,872-7,876-8,102-8,074-12,640-12,625-
財務CF-6,527-15,226-17,857-28,559-18,479-12,525-9,298-24,034-4,956-16,287-18,236-18,931-
換算差額316621911607-21836811-61-303177-612-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額---40,336---41,741---47,615-
研究開発費---13,016---11,783---12,137-
発行済株式総数104,443,057株104,993,923株104,994,978株105,017,223株105,045,704株105,050,878株103,036,687株101,041,683株101,058,704株101,070,613株101,071,110株101,101,578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---10,799人---11,010人---10,890人-
売上/従業員(千円)56,42056,42056,42056,42064,41164,41164,41164,41166,31866,31866,31861,331-
営利/従業員(千円)3,1993,1993,1993,1994,6534,6534,6534,6534,0464,0464,0463,125-
四半期売上(百万円)
売上5y CAGR・予想:-0.1 %
四半期利益(百万円)
営利5y CAGR・予想:-7.1 %
純利5y CAGR・予想:-12.8 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上159,611167,548179,897188,518169,078179,190192,200189,689165,058170,004162,805170,025614,000
前期比115.6%117.2%113.3%106.7%105.9%106.9%106.8%100.6%97.6%94.9%84.7%89.6%91.9%
売上原価130,009133,491143,464153,136142,318149,423155,426153,134136,738139,525132,782140,653-
売上総利益29,60234,05736,43335,38226,76029,76736,77436,55528,32030,47930,02329,372-
%18.5%20.3%20.3%18.8%15.8%16.6%19.1%19.3%17.2%17.9%18.4%17.3%-
販管費20,50420,53821,43722,74520,64620,83921,77322,04721,00221,04221,37020,747-
営業利益9,09813,51914,99612,6376,1148,92815,00114,5087,3189,4378,6538,62526,000
前期比558.8%136.7%134.2%103.0%67.2%66.0%100.0%114.8%119.7%105.7%57.7%59.4%76.4%
%5.7%8.1%8.3%6.7%3.6%5.0%7.8%7.6%4.4%5.6%5.3%5.1%4.2%
受取利息および受取配当金7060001,504000749000-
持分法による投資利益9116851,2667502,758449741,138613382831503-
営業外収益2,5431,8422,1741,1285,9551,3701,4202,6302,1901,4331,7014,582-
支払利息359372335342294270265254254252231234-
持分法による投資損失-000-000-000-
営業外費用1,4591,8161,8282,1061,8251,8461,6872,7151,7711,9652,0492,430-
経常利益10,18213,54515,34211,65910,2448,45214,73414,4237,7378,9058,30510,77723,500
固定資産売却益-6331033702121-91286-
投資有価証券売却益-8036940-4814953-
特別利益30143366743925784-57151,239-
固定資産売却損-000-000-000-
投資有価証券売却損-5015880395326328-3441-
減損損失-7103,59695590728-1804,617439-
特別損失1733445345,4211738878112,1654764374,7541,004-
税引前利益10,03913,21514,8416,90510,1147,57413,94813,0427,2618,5253,56611,012-
法人税等3,3953,6333,3861,4492,9801,8232,6352,9802,6962,238-6163,340-
%33.8%27.5%22.8%21.0%29.5%24.1%18.9%22.8%37.1%26.3%-17.3%30.3%-
当期純利益6,6449,58211,4555,4567,1345,75111,31310,0624,5656,2874,1827,672-
非支配株主に帰属する当期純利益683775664462103238204082438-204-128-
親会社株主に帰属する当期純利益6,5769,20510,8895,0106,9245,42810,4939,6544,5416,2494,3867,80014,000
前期比3,715.3%132.8%136.7%55.0%105.3%59.0%96.4%192.7%65.6%115.1%41.8%80.8%60.9%
%4.1%5.5%6.1%2.7%4.1%3.0%5.5%5.1%2.8%3.7%2.7%4.6%2.3%
 
EBITDA69,45069,45069,45069,45085,60385,60385,60385,60380,97180,97180,97170,86072,827
EPS303.3円301.7円301.7円301.7円309.4円309.4円315.4円321.6円227.4円227.3円227.3円227.3円217.6円
BPS2,740.2円2,863.2円2,985.3円3,002.9円2,973.8円3,070.4円3,136.4円3,261.2円3,214.2円3,268.9円3,298.2円3,287.7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)700,000700,000700,000700,000740,000740,000740,000740,000760,000760,000760,000760,000614,000
対実績比22.8%46.7%72.4%99.4%22.8%47.1%73.0%98.7%21.7%44.1%65.5%87.9%-
営業利益(期初予)40,00040,00040,00040,00044,00044,00044,00044,00047,00047,00047,00047,00026,000
対実績比22.7%56.5%94.0%125.6%13.9%34.2%68.3%101.3%15.6%35.6%54.1%72.4%-
純利益(期初予)24,50024,50024,50024,50030,50030,50030,50030,50031,00031,00031,00031,00014,000
対実績比26.8%64.4%108.9%129.3%22.7%40.5%74.9%106.6%14.6%34.8%49.0%74.1%-
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2,890円3,250円3,315円3,105円2,879円3,090円2,234円2,275円2,234円2,179円2,379円1,657円-
企業価値472,969510,569516,340492,629448,831473,637389,014401,000380,123366,592386,806317,017-
時価総額301,840339,440348,055326,009302,345324,591234,684234,408225,727220,233240,447167,525-
純有利子負債171,129171,129168,285166,620146,486149,046154,330166,592154,396146,359146,359149,492-
PER(会予)12.3倍13.9倍12.0倍11.2倍9.9倍10.6倍7.7倍7.7倍7.3倍7.1倍8.7倍7.6倍-
PBR1.1倍1.2倍1.2倍1.0倍1.0倍1.0倍0.7倍0.7倍0.7倍0.7倍0.7倍0.5倍-
PER × PBR13.0倍16.4倍13.9倍11.7倍9.5倍11.1倍5.6倍5.6倍5.0倍4.7倍6.4倍3.8倍-
EV/EBITDA(会予)6.3倍6.9倍6.5倍6.2倍5.7倍6.0倍4.9倍5.1倍4.6倍4.4倍4.9倍4.4倍-
PSR(会予)0.4倍0.5倍0.5倍0.5倍0.4倍0.4倍0.3倍0.3倍0.3倍0.3倍0.3倍0.2倍-
PCFR(会予)5.1倍5.8倍5.5倍5.1倍4.6倍4.9倍3.6倍3.6倍3.3倍3.3倍3.8倍2.8倍-
配当金---75.0円---80.0円---90.0円90.0円
配当利回り2.1%1.8%1.8%1.9%2.6%2.4%3.4%3.3%3.6%3.7%3.4%5.4%-
配当性向---24.9%---24.9%---39.6%-
自己資本配当率2.7%2.6%2.5%2.5%2.7%2.6%2.6%2.5%2.8%2.8%2.7%2.7%-
ROE11.1%10.5%10.1%10.0%10.4%10.1%10.1%9.9%7.1%7.0%6.9%6.9%-
純利益率(再掲)4.1%4.8%5.3%4.6%4.1%3.5%4.2%4.5%2.8%3.2%3.0%3.4%-
総資産回転率1.0回1.0回0.9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-
財務レバレッジ2.5倍2.5倍2.4倍2.3倍2.4倍2.3倍2.3倍2.3倍2.2倍2.2倍2.2倍2.2倍-
実質ROE10.9%10.4%10.0%10.0%10.3%10.0%9.8%9.5%6.8%6.7%6.6%6.7%-
ROIC7.7%7.6%7.4%7.5%6.9%6.6%6.5%6.6%5.1%5.2%5.1%5.0%-
ROA4.5%4.4%4.3%4.3%4.5%4.4%4.4%4.4%3.1%3.2%3.2%3.2%-
β1.031.000.930.951.111.081.221.281.301.341.381.36-
βの決定係数(R2)0.380.360.340.380.430.420.530.560.580.600.640.67-
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42,87237,65337,04249,05934,66936,40332,42132,90333,26132,28829,96441,226-
売上債権143,828143,828151,717159,626162,739156,429154,969167,389171,611146,036146,036158,140-
棚卸資産90,04490,04496,26397,88890,92996,352102,530104,96496,764102,120102,12093,742-
有価証券-------------
前払金-------------
繰延税金資産---6,524---------
貸倒引当金-530-474-494-577-536-537-586-599-519-472-482-505-
流動資産296,408305,437315,109323,400303,229310,232323,781315,699308,109292,202302,758303,956-
固定資産
建物・構築物83,62883,73785,532272,81984,36583,74086,458278,00587,37387,03585,332276,154-
機械・運搬具136,196135,854141,249664,135141,342140,364135,706667,722139,420135,506134,224675,230-
土地84,15884,20584,18881,26080,70380,80580,59480,51080,55380,11276,89776,059-
建設仮勘定---14,514---10,038---15,217-
有形固定資産330,214331,577333,714334,262329,099329,371326,146331,316328,203330,342326,793330,042-
のれん-------643536533521524-
無形固定資産5,2175,0725,0575,0065,6686,4476,2177,1067,7987,6147,4027,414-
投資有価証券53,09055,06056,30654,80455,94957,15555,10455,56755,01955,51157,32153,326-
繰延税金資産---6,518---12,151-----
貸倒引当金-674-631-624-606-605-605-648-628-625-624-615-497-
敷金および保証金-------------
投資その他の資産78,52580,05180,82080,30587,42188,25786,86386,00285,77186,33388,64785,689-
固定資産413,956416,700419,591419,573422,188424,075419,226424,424421,772424,289422,842423,145-
総資産710,555722,314734,867743,129725,563734,444743,180740,286730,034716,679725,778727,269-
 
負債
有利子負債合計214,001214,001205,938203,662195,545183,715190,733199,013187,299178,647178,647190,718-
仕入債務91,04891,04898,15299,912104,532105,362106,889106,651102,22389,64589,64592,620-
前受金-------------
未払法人税等2,5705,9775,0596,0272,1024,0813,2324,1061,8834,0651,8834,369-
繰延税金負債(固定)---2,478---1,964-----
負債400,649400,487399,294406,268392,300390,603398,335385,734380,581361,923368,471372,822-
 
純資産
資本金58,43558,43558,43558,43558,43558,43558,43558,43558,43558,43558,43558,435-
資本剰余金38,08438,49738,50538,29138,30738,36738,36840,35540,35140,34640,35540,300-
利益剰余金185,961195,166206,055211,065210,096215,524226,017235,671232,111238,360238,188245,980-
自己株式-4,526-2,997-3,010-2,958-2,879-2,865-7,860-12,798-12,754-12,724-12,723-12,645-
非支配株主持分23,09920,55021,45520,83720,26820,65921,03624,40624,03923,76323,33921,479-
純資産309,906321,827335,573336,861333,263343,841344,845354,552349,453354,756357,307354,447-
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10,03923,25438,09545,00010,11417,68831,63644,6787,26115,78619,35230,364-
減価償却費8,59917,22026,15635,3538,93017,89926,93836,4209,08918,18627,29236,827-
のれん償却額-------------
減損損失-7103,59695590728-1804,617439-
受取利息及び受取配当金-706-924-1,113-1,264-1,504-1,707-1,923-2,039-749-1,115-1,336-1,449-
売上債権の増減額15,9158,8091,623-1,9785,8167,893-5,378-9,15916,23324,75715,67012,187-
棚卸資産の増減額-6,325-11,937-13,128-6,803-6,007-11,206-14,427-5,590-8,096-5,800-5,1731,926-
仕入債務の増減額-6,2046512,1896,5008912,0692,472-1,937-6,775-10,106-5,596-8,557-
営業CF19,00831,01842,57673,38613,04121,68121,12450,46215,57036,75146,17868,489-
投資CF
有価証券の取得-82-141-143-245-42-47-119-122-42-177-259-260-
有価証券の売却・償還013132105550881061,362-
固定資産の購入-6,951-15,619-25,623-33,769-9,173-22,298-28,817-42,763-10,063-20,339-30,909-42,651-
固定資産の売却8232478664896999102,2052734386061,540-
貸付け----10----44----12-
貸付金の回収---69---48---32-
投資CF-7,745-16,428-26,206-33,978-8,822-22,107-28,538-42,663-10,238-20,815-31,097-40,632-
財務CF
短期借入金の純増減額-2,162-2,035-2,989-5,345-1,8503,1169,689-9,335-484-2,030-2,463-6,583-
長期借入れ27815,27815,30915,8874692,1652,64128,8362,0864,9947,54328,193-
長期借入金の返済-2,633-10,998-12,536-20,313-3,632-15,367-18,044-28,043-1,985-9,879-13,467-19,309-
社債の発行19,90819,90819,90819,908--9,9559,955-9,9559,9559,955-
社債の償還--15,010-15,010-15,020-10,000-10,010-10,010-10,010-10,000-10,000-10,000-10,000-
自己株式の取得-3,820-5,011-5,037-5,042-2-5-5,007-10,009-1-3-5-7-
自己株式の売却-------------
配当金の支払-6,364-6,340-6,344-6,347-7,894-7,903-7,872-7,876-8,102-8,074-12,640-12,625-
財務CF-6,527-15,226-17,857-28,559-18,479-12,525-9,298-24,034-4,956-16,287-18,236-18,931-
換算差額316621911607-21836811-61-303177-612-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額---40,336---41,741---47,615-
研究開発費---13,016---11,783---12,137-
発行済株式総数104,443,057株104,993,923株104,994,978株105,017,223株105,045,704株105,050,878株103,036,687株101,041,683株101,058,704株101,070,613株101,071,110株101,101,578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---10,799人---11,010人---10,890人-
売上/従業員(千円)56,42056,42056,42056,42064,41164,41164,41164,41166,31866,31866,31861,331-
営利/従業員(千円)3,1993,1993,1993,1994,6534,6534,6534,6534,0464,0464,0463,125-