通期売上(百万円)
売上5y CAGR・予想:6.2 %
通期利益(百万円)
営利5y CAGR・予想:9.1 %
純利5y CAGR・予想:7.0 %
P/L
2018.32019.32020.32021.3E
売上471,488501,243528,873540,000
前期比111.1%106.3%105.5%102.1%
売上原価311,868336,508348,006-
売上総利益159,619164,735180,866-
%33.9%32.9%34.2%-
販管費94,48193,29397,688-
営業利益65,13871,44283,17883,000
前期比111.3%109.7%116.4%99.8%
%13.8%14.3%15.7%15.4%
受取利息および受取配当金1,6741,4091,211-
持分法による投資利益--8-
営業外収益2,0041,7432,068-
支払利息261441389-
持分法による投資損失8118--
営業外費用981776718-
経常利益66,16172,40984,52884,000
固定資産売却益----
投資有価証券売却益22,0789,07919,198-
特別利益22,1049,38520,873-
固定資産売却損153---
投資有価証券売却損521,346509-
減損損失-3,6982,383-
特別損失5,7385,0442,905-
税引前利益82,52776,749102,496-
法人税等26,35625,21332,288-
%32.4%31.9%31.5%-
当期純利益56,17151,53570,208-
非支配株主に帰属する当期純利益1,025604931-
親会社株主に帰属する当期純利益55,14550,93169,27659,000
前期比122.4%92.4%136.0%85.2%
%10.6%11.7%13.1%10.9%
 
EBITDA86,99097,079113,592112,414
EPS77.2円72.8円116.2円115.7円
BPS586.9円587.7円446.7円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)460,000510,000530,000540,000
対実績比102.5%98.3%99.8%-
営業利益(期初予)64,00070,00076,00083,000
対実績比101.8%102.1%109.4%-
純利益(期初予)46,50050,00055,00059,000
対実績比118.6%101.9%126.0%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価1,680円1,677円2,288円-
企業価値1,144,1131,125,4601,367,346-
時価総額1,198,0131,176,3291,364,111-
純有利子負債-53,900-50,8693,235-
PER(会予)20.3倍22.2倍19.8倍-
PBR2.9倍2.9倍5.1倍-
PER × PBR59.2倍64.7倍101.3倍-
EV/EBITDA(会予)12.4倍11.0倍12.2倍-
PSR(会予)2.6倍2.4倍2.6倍-
PCFR(会予)13.7倍13.8倍13.7倍-
配当金30.0円30.0円32.0円32.0円
配当利回り1.5%1.8%1.4%-
配当性向38.9%41.2%27.5%-
自己資本配当率15.3%15.3%7.2%-
ROE13.2%12.4%26.0%-
純利益率(再掲)11.7%10.2%13.1%-
総資産回転率0.7回0.8回1.0回-
財務レバレッジ1.5倍1.5倍2.0倍-
実質ROE12.0%10.5%20.8%-
ROIC7.8%9.8%13.7%-
ROA8.4%8.3%13.1%-
β0.870.900.76-
βの決定係数(R2)0.410.430.37-
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159,541124,773102,540-
売上債権46,25553,43190,569-
棚卸資産1,2061,2732,613-
有価証券1,2182,1212,301-
前払金5,5256,4456,264-
繰延税金資産11,506---
貸倒引当金-205-207-245-
流動資産309,781285,788259,855-
固定資産
建物・構築物64,22664,64167,361-
機械・運搬具----
土地7,0607,0607,060-
建設仮勘定----
有形固定資産68,52865,37663,422-
のれん39,02827,57220,409-
無形固定資産102,71691,50585,118-
投資有価証券88,99980,20328,512-
繰延税金資産1,7333,658--
貸倒引当金-103-25-39-
敷金および保証金----
投資その他の資産171,645169,522119,742-
固定資産342,890326,404268,282-
総資産652,671612,192528,137-
 
負債
有利子負債合計58,40561,499105,775-
仕入債務19,84221,54325,612-
前受金11,74715,53617,769-
未払法人税等21,2336,43520,772-
繰延税金負債(固定)14,9995,928--
負債219,888187,160245,997-
 
純資産
資本金18,60019,33820,067-
資本剰余金14,77615,55116,111-
利益剰余金393,487423,047302,966-
自己株式-41,218-72,197-66,628-
非支配株主持分12,18813,07515,141-
純資産432,783425,032282,140-
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82,52776,749102,496-
減価償却費31,94130,42730,414-
のれん償却額----
減損損失-3,6982,383-
受取利息及び受取配当金-1,674-1,410-1,212-
売上債権の増減額-13,163-16,5184,267-
棚卸資産の増減額-62-1,045-475-
仕入債務の増減額4,4874,584-1,548-
営業CF73,49356,349102,787-
投資CF
有価証券の取得-13,508-17,268-3,073-
有価証券の売却・償還48,55425,09549,138-
固定資産の購入-38,532-25,500-27,401-
固定資産の売却50252-
貸付け----
貸付金の回収--400-
投資CF-17,882-16,82618,382-
財務CF
短期借入金の純増減額---549-
長期借入れ94317,50010,000-
長期借入金の返済-5,732-23,704-4,853-
社債の発行23,908-39,909-
社債の償還--15,000--
自己株式の取得-50,675-36,785-171,058-
自己株式の売却----
配当金の支払-20,817-21,370-19,597-
財務CF-46,829-73,106-139,857-
換算差額-2,529-1,519-3,734-
その他
2018.32019.32020.32021.3E
設備投資額47,64526,27628,496-
研究開発費5,1703,6654,310-
発行済株式総数714,467,535株699,293,541株596,202,351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12,708人12,578人13,278人-
売上/従業員(千円)36,58337,10239,831-
営利/従業員(千円)5,0425,1266,264-
四半期売上(百万円)
売上5y CAGR・予想:6.2 %
四半期利益(百万円)
営利5y CAGR・予想:9.1 %
純利5y CAGR・予想:7.0 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上106,636220,214341,601471,488117,758240,407367,064501,243129,495259,153390,545528,873540,000
前期比106.2%108.4%110.7%111.1%110.4%109.2%107.5%106.3%110.0%107.8%106.4%105.5%102.1%
売上原価70,008144,940224,792311,86879,308161,024245,989336,50885,392171,679257,149348,006-
売上総利益36,62775,274116,809159,61938,45079,383121,075164,73544,10287,473133,395180,866-
%34.3%34.2%34.2%33.9%32.7%33.0%33.0%32.9%34.1%33.8%34.2%34.2%-
販管費23,51146,17670,19594,48123,10946,27769,65293,29323,74946,56571,28997,688-
営業利益13,11629,09746,61465,13815,34133,10551,42271,44220,35340,90862,10683,17883,000
前期比95.8%110.5%109.3%111.3%117.0%113.8%110.3%109.7%132.7%123.6%120.8%116.4%99.8%
%12.3%13.2%13.6%13.8%13.0%13.8%14.0%14.3%15.7%15.8%15.9%15.7%15.4%
受取利息および受取配当金1,0721,1621,6231,6747098171,3321,4096707681,1391,211-
持分法による投資利益-----------8-
営業外収益1,1521,3341,8522,0047689351,5101,7439691,3471,6152,068-
支払利息5311317426112323833544183196295389-
持分法による投資損失113539817915816918642948--
営業外費用132396764981238453752776160481630718-
経常利益14,13730,03647,70266,16115,87133,58852,18072,40921,16241,77463,09084,52884,000
固定資産売却益-------------
投資有価証券売却益1,39720,26920,27122,0781,1441,1449,0759,079-19,09819,16219,198-
特別利益1,41420,28620,28722,1041,2661,2669,3869,3851419,11219,26920,873-
固定資産売却損---153---------
投資有価証券売却損2153545239461,1431,346241969509-
減損損失-------3,698---2,383-
特別損失2154545,73839461,1435,0442419812,905-
税引前利益15,53050,26867,93582,52717,09934,80860,42376,74921,15260,86782,278102,496-
法人税等5,50516,33521,79326,3565,85411,62520,21825,2136,79119,68026,23132,288-
%32.4%32.4%32.4%32.4%31.9%31.9%31.9%31.9%32.9%32.9%32.9%31.5%-
当期純利益10,02433,93246,14156,17111,24523,18240,20551,53514,36141,18756,04770,208-
非支配株主に帰属する当期純利益3635558381,025131240355604115293442931-
親会社株主に帰属する当期純利益9,66133,37745,30355,14511,11322,94239,84950,93114,24540,89355,60469,27659,000
前期比93.3%115.7%112.5%122.4%115.0%68.7%88.0%92.4%128.2%178.2%139.5%136.0%85.2%
%10.6%10.6%10.6%10.6%11.7%11.7%11.7%11.7%10.2%10.2%10.2%13.1%10.9%
 
EBITDA86,99086,99086,99086,99097,07997,07997,07997,079101,869101,869101,869113,592112,414
EPS74.0円77.0円77.3円77.2円71.6円72.3円72.6円72.8円99.8円116.6円116.4円116.2円115.7円
BPS588.1円574.4円576.7円586.9円584.3円600.3円574.8円587.7円582.6円434.1円450.7円446.7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)460,000460,000460,000460,000510,000510,000510,000510,000530,000530,000530,000530,000540,000
対実績比23.2%47.9%74.3%102.5%23.1%47.1%72.0%98.3%24.4%48.9%73.7%99.8%-
営業利益(期初予)64,00064,00064,00064,00070,00070,00070,00070,00076,00076,00076,00076,00083,000
対実績比20.5%45.5%72.8%101.8%21.9%47.3%73.5%102.1%26.8%53.8%81.7%109.4%-
純利益(期初予)46,50046,50046,50046,50050,00050,00050,00050,00055,00055,00055,00055,00059,000
対実績比20.8%71.8%97.4%118.6%22.2%45.9%79.7%101.9%25.9%74.4%101.1%126.0%-
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1,475円1,463円1,747円1,680円1,790円1,913円1,358円1,677円1,727円2,151円2,338円2,288円-
企業価値998,362989,6661,184,9451,144,1131,199,9901,311,219894,4421,125,4601,142,1301,310,9571,422,0221,367,346-
時価総額1,099,4951,090,7991,251,3181,198,0131,278,8841,360,251957,3281,176,3291,207,6801,277,5551,388,6201,364,111-
純有利子負債-101,133-101,133-66,373-53,900-78,894-49,032-62,886-50,869-65,55033,40233,4023,235-
PER(会予)23.6倍18.5倍21.2倍20.3倍25.6倍27.2倍18.1倍22.2倍22.0倍23.2倍20.4倍19.8倍-
PBR2.5倍2.5倍3.0倍2.9倍3.1倍3.3倍2.3倍2.9倍2.9倍5.0倍5.4倍5.1倍-
PER × PBR59.3倍46.0倍64.5倍59.2倍78.0倍89.1倍40.9倍64.7倍64.5倍115.1倍110.0倍101.3倍-
EV/EBITDA(会予)10.8倍10.7倍12.8倍12.4倍11.8倍12.9倍8.8倍11.0倍10.7倍12.3倍12.9倍12.2倍-
PSR(会予)2.4倍2.4倍2.7倍2.6倍2.5倍2.7倍1.9倍2.4倍2.3倍2.4倍2.6倍2.6倍-
PCFR(会予)14.7倍12.5倍14.3倍13.7倍15.6倍16.6倍11.3倍13.8倍14.1倍15.0倍14.1倍13.7倍-
配当金---30.0円---30.0円---32.0円32.0円
配当利回り1.7%1.7%1.5%1.5%1.7%1.6%2.2%1.8%1.7%1.4%1.3%1.4%-
配当性向---38.9%---41.2%---27.5%-
自己資本配当率15.3%15.7%15.6%15.3%15.4%15.0%15.7%15.3%5.5%7.4%7.1%7.2%-
ROE12.6%13.4%13.4%13.2%12.3%12.0%12.6%12.4%17.1%26.9%25.8%26.0%-
純利益率(再掲)9.1%15.2%13.3%11.7%9.4%9.5%10.9%10.2%11.0%15.8%14.2%13.1%-
総資産回転率0.7回0.8回0.8回0.7回0.8回0.8回0.9回0.8回0.9回1.1回1.0回1.0回-
財務レバレッジ1.4倍1.4倍1.5倍1.5倍1.6倍1.5倍1.5倍1.5倍1.5倍1.9倍1.9倍2.0倍-
実質ROE11.6%11.3%11.1%12.0%11.0%10.5%10.8%10.5%14.3%13.9%20.6%20.8%-
ROIC7.8%8.2%8.3%7.8%9.4%9.5%9.9%9.8%11.0%13.9%13.5%13.7%-
ROA8.8%8.9%9.0%8.4%8.2%8.2%8.7%8.3%11.8%13.9%13.6%13.1%-
β0.860.850.900.870.780.720.840.900.850.760.770.76-
βの決定係数(R2)0.380.370.400.410.340.300.400.430.450.350.340.37-
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157,743125,394112,305159,541127,801125,547112,368124,773129,45573,94881,715102,540-
売上債権42,78442,78454,56246,25575,81744,22561,01053,43188,10166,13466,13490,569-
棚卸資産1,0481,0481,0311,2061,1161,1571,2371,2732,1301,6931,6932,613-
有価証券6,2334,2874,3781,2181,6161,1542,1452,1213,2433,0032,0022,301-
前払金7,7227,0426,3365,5257,9127,1976,7536,4458,6077,7466,9136,264-
繰延税金資産9,1759,2049,17611,506---------
貸倒引当金-110-165-163-205-165-200-185-207-210-208-220-245-
流動資産282,106279,459264,210309,781269,218260,791252,303285,788262,802214,483220,974259,855-
固定資産
建物・構築物65,71665,08964,97164,22664,17564,23264,51064,64165,07464,96866,97367,361-
機械・運搬具-------------
土地7,5267,5267,5267,0607,0607,0607,0607,0607,0607,0607,0607,060-
建設仮勘定-------------
有形固定資産73,09571,96570,16768,52867,54866,53365,14665,37664,43164,63164,34363,422-
のれん34,52943,62943,03239,02838,10335,42132,54227,57225,72924,23424,90620,409-
無形固定資産99,946109,766110,608102,716101,870102,35997,87991,50589,02588,32191,82085,118-
投資有価証券102,87483,06893,20788,99993,651102,09980,70280,20380,65532,38234,05328,512-
繰延税金資産1,9812,2921,6321,7332,7492,6782,7123,658-----
貸倒引当金-139-141-104-103-98-97-95-25-24-24-65-39-
敷金および保証金-------------
投資その他の資産174,364155,836169,443171,645179,183188,832169,893169,522172,308129,830134,102119,742-
固定資産347,406337,568350,220342,890348,601357,726332,918326,404325,765282,784290,267268,282-
総資産629,513617,028614,430652,671617,820618,518585,222612,192588,567497,267511,241528,137-
 
負債
有利子負債合計56,61056,61059,02158,40580,64778,76962,66161,49959,223107,350107,350105,775-
仕入債務19,47519,47521,05919,84222,88220,62320,86621,54327,69820,80120,80125,612-
前受金10,36311,8279,43811,74710,61011,57810,54415,53611,29410,2119,24317,769-
未払法人税等6,96218,48316,20721,2334,52110,4605,4396,4356,95720,09817,56320,772-
繰延税金負債(固定)15,09310,93612,68614,9995,6849,9232,4105,928-----
負債177,883192,585189,845219,888188,450181,627168,027187,160170,360225,394227,564245,997-
 
純資産
資本金18,60018,60018,60018,60018,60019,33819,33819,33819,33820,06720,06720,067-
資本剰余金14,76214,91814,92814,77614,75915,58115,52015,55115,63816,36616,25816,111-
利益剰余金400,003423,719424,831393,487393,830405,515411,961423,047426,743453,382289,466302,966-
自己株式-36,235-78,516-83,994-41,218-48,383-61,514-67,678-72,197-81,375-239,899-68,431-66,628-
非支配株主持分11,98811,75712,01112,18812,56412,71612,84713,07512,97013,20314,72415,141-
純資産451,630424,442424,585432,783429,369436,890417,195425,032418,206271,873283,677282,140-
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15,53050,26867,93582,52717,09934,80860,42376,74921,15260,86782,278102,496-
減価償却費6,69014,06021,41531,9417,22715,42722,88730,4277,81315,16422,66030,414-
のれん償却額-------------
減損損失-------3,698---2,383-
受取利息及び受取配当金-1,073-1,163-1,624-1,674-709-817-1,333-1,410-671-769-1,140-1,212-
売上債権の増減額20,331109-177-13,16322,4672,030181-16,51825,13613,60216,1894,267-
棚卸資産の増減額2447-126-62-42-119-182-1,04550636423-475-
仕入債務の増減額2,7923,7685,9484,4871,171-6862,2894,584-2,242-5,540-2,113-1,548-
営業CF25,72326,01744,60473,493-6,71424,35533,40556,34935,37952,89874,856102,787-
投資CF
有価証券の取得-36-80-9,483-13,508-2,172-5,264-13,016-17,268-1,095-1,221-2,569-3,073-
有価証券の売却・償還6,69933,91639,01948,5542,6877,22217,93425,0951,00646,75049,01349,138-
固定資産の購入-17,342-25,296-31,533-38,532-6,737-13,309-19,307-25,500-7,717-14,424-20,809-27,401-
固定資産の売却11250204450002-
貸付け-------------
貸付金の回収-----------400-
投資CF-10,799-1,293-15,286-17,882-5,600-11,048-13,447-16,826-7,86030,32423,34418,382-
財務CF
短期借入金の純増減額--------13-1,115-585-549-
長期借入れ-940945943---17,500-10,00010,00010,000-
長期借入金の返済-1,187-3,030-4,272-5,732-1,272-2,274-3,625-23,704-1,146-2,213-3,765-4,853-
社債の発行---23,908-----39,87939,87939,909-
社債の償還------15,000-15,000-15,000-----
自己株式の取得-3-43,906-50,672-50,675-8,210-22,598-30,201-36,785-11,007-171,057-171,057-171,058-
自己株式の売却-------------
配当金の支払-9,984-10,001-20,806-20,817-10,745-10,762-21,360-21,370-10,531-10,547-19,589-19,597-
財務CF-10,067-53,252-70,902-46,829-19,538-48,872-66,459-73,106-21,367-132,294-140,616-139,857-
換算差額1091,2061,237-2,529245935-1,409-1,519-1,363-1,867-947-3,734-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額---47,645---26,276---28,496-
研究開発費---5,170---3,665---4,310-
発行済株式総数745,428,033株716,410,533株713,110,347株714,467,535株710,939,727株704,788,311株701,594,886株699,293,541株694,057,098株593,935,197株595,043,751株596,202,351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---12,708人---12,578人---13,278人-
売上/従業員(千円)36,58336,58336,58336,58337,10237,10237,10237,10239,85139,85139,85139,831-
営利/従業員(千円)5,0425,0425,0425,0425,1265,1265,1265,1265,6805,6805,6806,264-
四半期売上(百万円)
売上5y CAGR・予想:6.2 %
四半期利益(百万円)
営利5y CAGR・予想:9.1 %
純利5y CAGR・予想:7.0 %
P/L
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
売上106,636113,578121,387129,887117,758122,649126,657134,179129,495129,658131,392138,328540,000
前期比106.2%110.5%115.2%112.0%110.4%108.0%104.3%103.3%110.0%105.7%103.7%103.1%102.1%
売上原価70,00874,93279,85287,07679,30881,71684,96590,51985,39286,28785,47090,857-
売上総利益36,62738,64741,53542,81038,45040,93341,69243,66044,10243,37145,92247,471-
%34.3%34.0%34.2%33.0%32.7%33.4%32.9%32.5%34.1%33.5%35.0%34.3%-
販管費23,51122,66524,01924,28623,10923,16823,37523,64123,74922,81624,72426,399-
営業利益13,11615,98117,51718,52415,34117,76418,31720,02020,35320,55521,19821,07283,000
前期比95.8%126.3%107.4%116.7%117.0%111.2%104.6%108.1%132.7%115.7%115.7%105.3%99.8%
%12.3%14.1%14.4%14.3%13.0%14.5%14.5%14.9%15.7%15.9%16.1%15.2%15.4%
受取利息および受取配当金1,072000709000670000-
持分法による投資利益-000-000-008-
営業外収益1,152182518152768167575233969378268453-
支払利息5360618712311597106831139994-
持分法による投資損失1124442797911-15164-3519-48-
営業外費用1322643682172382152992416032114988-
経常利益14,13715,89917,66618,45915,87117,71718,59220,22921,16220,61221,31621,43884,000
固定資産売却益-000-000-000-
投資有価証券売却益1,39718,87221,8071,14407,9314-19,0986436-
特別利益1,41418,87211,8171,26608,120-11419,0981571,604-
固定資産売却損-00153-000-000-
投資有価証券売却損21321-23971,09720324-550440-
減損損失-000-003,698-002,383-
特別損失213305,6843971,0973,90124-5622,824-
税引前利益15,53034,73817,66714,59217,09917,70925,61516,32621,15239,71521,41120,218-
法人税等5,50510,8305,4584,5635,8545,7718,5934,9956,79112,8896,5516,057-
%35.4%31.2%30.9%31.3%34.2%32.6%33.5%30.6%32.1%32.5%30.6%30.0%-
当期純利益10,02423,90812,20910,03011,24511,93717,02311,33014,36126,82614,86014,161-
非支配株主に帰属する当期純利益363192283187131109115249115178149489-
親会社株主に帰属する当期純利益9,66123,71611,9269,84211,11311,82916,90711,08214,24526,64814,71113,67259,000
前期比93.3%128.3%104.3%205.7%115.0%49.9%141.8%112.6%128.2%225.3%87.0%123.4%85.2%
%9.1%20.9%9.8%7.6%9.4%9.6%13.3%8.3%11.0%20.6%11.2%9.9%10.9%
 
EBITDA86,99086,99086,99086,99097,07997,07997,07997,079101,869101,869101,869113,592112,414
EPS74.0円77.0円77.3円77.2円71.6円72.3円72.6円72.8円99.8円116.6円116.4円116.2円115.7円
BPS588.1円574.4円576.7円586.9円584.3円600.3円574.8円587.7円582.6円434.1円450.7円446.7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)460,000460,000460,000460,000510,000510,000510,000510,000530,000530,000530,000530,000540,000
対実績比23.2%47.9%74.3%102.5%23.1%47.1%72.0%98.3%24.4%48.9%73.7%99.8%-
営業利益(期初予)64,00064,00064,00064,00070,00070,00070,00070,00076,00076,00076,00076,00083,000
対実績比20.5%45.5%72.8%101.8%21.9%47.3%73.5%102.1%26.8%53.8%81.7%109.4%-
純利益(期初予)46,50046,50046,50046,50050,00050,00050,00050,00055,00055,00055,00055,00059,000
対実績比20.8%71.8%97.4%118.6%22.2%45.9%79.7%101.9%25.9%74.4%101.1%126.0%-
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1,475円1,463円1,747円1,680円1,790円1,913円1,358円1,677円1,727円2,151円2,338円2,288円-
企業価値998,362989,6661,184,9451,144,1131,199,9901,311,219894,4421,125,4601,142,1301,310,9571,422,0221,367,346-
時価総額1,099,4951,090,7991,251,3181,198,0131,278,8841,360,251957,3281,176,3291,207,6801,277,5551,388,6201,364,111-
純有利子負債-101,133-101,133-66,373-53,900-78,894-49,032-62,886-50,869-65,55033,40233,4023,235-
PER(会予)23.6倍18.5倍21.2倍20.3倍25.6倍27.2倍18.1倍22.2倍22.0倍23.2倍20.4倍19.8倍-
PBR2.5倍2.5倍3.0倍2.9倍3.1倍3.3倍2.3倍2.9倍2.9倍5.0倍5.4倍5.1倍-
PER × PBR59.3倍46.0倍64.5倍59.2倍78.0倍89.1倍40.9倍64.7倍64.5倍115.1倍110.0倍101.3倍-
EV/EBITDA(会予)10.8倍10.7倍12.8倍12.4倍11.8倍12.9倍8.8倍11.0倍10.7倍12.3倍12.9倍12.2倍-
PSR(会予)2.4倍2.4倍2.7倍2.6倍2.5倍2.7倍1.9倍2.4倍2.3倍2.4倍2.6倍2.6倍-
PCFR(会予)14.7倍12.5倍14.3倍13.7倍15.6倍16.6倍11.3倍13.8倍14.1倍15.0倍14.1倍13.7倍-
配当金---30.0円---30.0円---32.0円32.0円
配当利回り1.7%1.7%1.5%1.5%1.7%1.6%2.2%1.8%1.7%1.4%1.3%1.4%-
配当性向---38.9%---41.2%---27.5%-
自己資本配当率15.3%15.7%15.6%15.3%15.4%15.0%15.7%15.3%5.5%7.4%7.1%7.2%-
ROE12.6%13.4%13.4%13.2%12.3%12.0%12.6%12.4%17.1%26.9%25.8%26.0%-
純利益率(再掲)9.1%15.2%13.3%11.7%9.4%9.5%10.9%10.2%11.0%15.8%14.2%13.1%-
総資産回転率0.7回0.8回0.8回0.7回0.8回0.8回0.9回0.8回0.9回1.1回1.0回1.0回-
財務レバレッジ1.4倍1.4倍1.5倍1.5倍1.6倍1.5倍1.5倍1.5倍1.5倍1.9倍1.9倍2.0倍-
実質ROE11.6%11.3%11.1%12.0%11.0%10.5%10.8%10.5%14.3%13.9%20.6%20.8%-
ROIC7.8%8.2%8.3%7.8%9.4%9.5%9.9%9.8%11.0%13.9%13.5%13.7%-
ROA8.8%8.9%9.0%8.4%8.2%8.2%8.7%8.3%11.8%13.9%13.6%13.1%-
β0.860.850.900.870.780.720.840.900.850.760.770.76-
βの決定係数(R2)0.380.370.400.410.340.300.400.430.450.350.340.37-
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157,743125,394112,305159,541127,801125,547112,368124,773129,45573,94881,715102,540-
売上債権42,78442,78454,56246,25575,81744,22561,01053,43188,10166,13466,13490,569-
棚卸資産1,0481,0481,0311,2061,1161,1571,2371,2732,1301,6931,6932,613-
有価証券6,2334,2874,3781,2181,6161,1542,1452,1213,2433,0032,0022,301-
前払金7,7227,0426,3365,5257,9127,1976,7536,4458,6077,7466,9136,264-
繰延税金資産9,1759,2049,17611,506---------
貸倒引当金-110-165-163-205-165-200-185-207-210-208-220-245-
流動資産282,106279,459264,210309,781269,218260,791252,303285,788262,802214,483220,974259,855-
固定資産
建物・構築物65,71665,08964,97164,22664,17564,23264,51064,64165,07464,96866,97367,361-
機械・運搬具-------------
土地7,5267,5267,5267,0607,0607,0607,0607,0607,0607,0607,0607,060-
建設仮勘定-------------
有形固定資産73,09571,96570,16768,52867,54866,53365,14665,37664,43164,63164,34363,422-
のれん34,52943,62943,03239,02838,10335,42132,54227,57225,72924,23424,90620,409-
無形固定資産99,946109,766110,608102,716101,870102,35997,87991,50589,02588,32191,82085,118-
投資有価証券102,87483,06893,20788,99993,651102,09980,70280,20380,65532,38234,05328,512-
繰延税金資産1,9812,2921,6321,7332,7492,6782,7123,658-----
貸倒引当金-139-141-104-103-98-97-95-25-24-24-65-39-
敷金および保証金-------------
投資その他の資産174,364155,836169,443171,645179,183188,832169,893169,522172,308129,830134,102119,742-
固定資産347,406337,568350,220342,890348,601357,726332,918326,404325,765282,784290,267268,282-
総資産629,513617,028614,430652,671617,820618,518585,222612,192588,567497,267511,241528,137-
 
負債
有利子負債合計56,61056,61059,02158,40580,64778,76962,66161,49959,223107,350107,350105,775-
仕入債務19,47519,47521,05919,84222,88220,62320,86621,54327,69820,80120,80125,612-
前受金10,36311,8279,43811,74710,61011,57810,54415,53611,29410,2119,24317,769-
未払法人税等6,96218,48316,20721,2334,52110,4605,4396,4356,95720,09817,56320,772-
繰延税金負債(固定)15,09310,93612,68614,9995,6849,9232,4105,928-----
負債177,883192,585189,845219,888188,450181,627168,027187,160170,360225,394227,564245,997-
 
純資産
資本金18,60018,60018,60018,60018,60019,33819,33819,33819,33820,06720,06720,067-
資本剰余金14,76214,91814,92814,77614,75915,58115,52015,55115,63816,36616,25816,111-
利益剰余金400,003423,719424,831393,487393,830405,515411,961423,047426,743453,382289,466302,966-
自己株式-36,235-78,516-83,994-41,218-48,383-61,514-67,678-72,197-81,375-239,899-68,431-66,628-
非支配株主持分11,98811,75712,01112,18812,56412,71612,84713,07512,97013,20314,72415,141-
純資産451,630424,442424,585432,783429,369436,890417,195425,032418,206271,873283,677282,140-
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15,53050,26867,93582,52717,09934,80860,42376,74921,15260,86782,278102,496-
減価償却費6,69014,06021,41531,9417,22715,42722,88730,4277,81315,16422,66030,414-
のれん償却額-------------
減損損失-000-003,698-002,383-
受取利息及び受取配当金-1,073-1,163-1,624-1,674-709-817-1,333-1,410-671-769-1,140-1,212-
売上債権の増減額20,331109-177-13,16322,4672,030181-16,51825,13613,60216,1894,267-
棚卸資産の増減額2447-126-62-42-119-182-1,04550636423-475-
仕入債務の増減額2,7923,7685,9484,4871,171-6862,2894,584-2,242-5,540-2,113-1,548-
営業CF25,72326,01744,60473,493-6,71424,35533,40556,34935,37952,89874,856102,787-
投資CF
有価証券の取得-36-80-9,483-13,508-2,172-5,264-13,016-17,268-1,095-1,221-2,569-3,073-
有価証券の売却・償還6,69933,91639,01948,5542,6877,22217,93425,0951,00646,75049,01349,138-
固定資産の購入-17,342-25,296-31,533-38,532-6,737-13,309-19,307-25,500-7,717-14,424-20,809-27,401-
固定資産の売却11250204450002-
貸付け-------------
貸付金の回収-----------400-
投資CF-10,799-1,293-15,286-17,882-5,600-11,048-13,447-16,826-7,86030,32423,34418,382-
財務CF
短期借入金の純増減額--------13-1,115-585-549-
長期借入れ-940945943---17,500-10,00010,00010,000-
長期借入金の返済-1,187-3,030-4,272-5,732-1,272-2,274-3,625-23,704-1,146-2,213-3,765-4,853-
社債の発行---23,908-----39,87939,87939,909-
社債の償還------15,000-15,000-15,000-----
自己株式の取得-3-43,906-50,672-50,675-8,210-22,598-30,201-36,785-11,007-171,057-171,057-171,058-
自己株式の売却-------------
配当金の支払-9,984-10,001-20,806-20,817-10,745-10,762-21,360-21,370-10,531-10,547-19,589-19,597-
財務CF-10,067-53,252-70,902-46,829-19,538-48,872-66,459-73,106-21,367-132,294-140,616-139,857-
換算差額1091,2061,237-2,529245935-1,409-1,519-1,363-1,867-947-3,734-
その他
17.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q4E
設備投資額---47,645---26,276---28,496-
研究開発費---5,170---3,665---4,310-
発行済株式総数745,428,033株716,410,533株713,110,347株714,467,535株710,939,727株704,788,311株701,594,886株699,293,541株694,057,098株593,935,197株595,043,751株596,202,351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---12,708人---12,578人---13,278人-
売上/従業員(千円)36,58336,58336,58336,58337,10237,10237,10237,10239,85139,85139,85139,831-
営利/従業員(千円)5,0425,0425,0425,0425,1265,1265,1265,1265,6805,6805,6806,264-