通期売上(百万円)
売上5y CAGR・予想:3.6 %
通期利益(百万円)
営利5y CAGR・予想:-7.1 %
純利5y CAGR・予想:-2.2 %
P/L
2017.32018.32019.32020.3
売上198,762215,716238,515235,000
前期比97.4%108.5%110.6%98.5%
売上原価138,191152,629171,958-
売上総利益60,57163,08766,556-
%30.5%29.2%27.9%-
販管費38,92442,39244,767-
営業利益21,64720,69421,78916,100
前期比100.4%95.6%105.3%73.9%
%10.9%9.6%9.1%6.9%
受取利息および受取配当金7698991,001-
持分法による投資利益17527-
営業外収益1,5051,7841,809-
支払利息284267364-
持分法による投資損失----
営業外費用1,1487351,976-
経常利益22,00421,74321,62116,400
固定資産売却益----
投資有価証券売却益10---
特別利益10-4-
固定資産売却損----
投資有価証券売却損----
減損損失28-2,193-
特別損失4395792,193-
税引前利益21,57521,16419,432-
法人税等6,7216,4225,577-
%31.2%30.3%28.7%-
当期純利益14,85414,74113,855-
非支配株主に帰属する当期純利益2577575-
親会社株主に帰属する当期純利益14,59614,66613,77911,700
前期比114.3%100.5%94.0%84.9%
%7.3%6.8%5.8%5.0%
 
EBITDA32,55732,55732,09928,944
EPS390.1円387.4円364.0円309.1円
BPS4,075.5円4,411.9円4,578.8円-
期初会社予想
2017.32018.32019.32020.3
売上高(期初予)206,000205,000225,000235,000
対実績比96.5%105.2%106.0%-
営業利益(期初予)20,80020,50021,30016,100
対実績比104.1%100.9%102.3%-
純利益(期初予)13,40014,50015,10011,700
対実績比108.9%101.1%91.3%-
配当
ROEデュポン分解
β
マルチプル
2017.32018.32019.32020.3
企業価値182,105166,667162,621-
時価総額173,593163,908149,511-
純有利子負債8,5122,75913,110-
PER(会予)13.7倍11.3倍9.8倍-
PBR1.1倍1.0倍0.9倍-
PER × PBR15.6倍11.1倍8.5倍-
EV/EBITDA(会予)5.9倍5.3倍4.9倍-
PSR(会予)0.9倍0.8倍0.6倍-
PCFR(会予)7.4倍6.5倍5.6倍-
配当金120.0円120.0円120.0円120.0円
配当利回り2.6%2.8%3.0%-
配当性向30.8%30.8%31.0%-
自己資本配当率0.6%0.5%1.6%-
ROE9.6%8.8%8.0%-
純利益率(再掲)7.3%6.8%5.8%-
総資産回転率0.7回0.8回0.8回-
財務レバレッジ1.8倍1.7倍1.8倍-
実質ROE9.4%8.7%7.9%-
ROIC8.0%7.4%7.5%-
ROA5.5%5.2%4.5%-
β1.181.141.50-
βの決定係数(R2)0.490.460.68-
自己資本比率(%)
利益剰余金(百万円)
有利子負債(百万円)
B/S
2017.32018.32019.32020.3
流動資産
現金26,33229,59033,647-
売上債権41,10939,17544,098-
棚卸資産33,87440,04943,443-
有価証券7,9654,6464,114-
前払金----
繰延税金資産3,0952,829--
貸倒引当金-344-406-397-
流動資産125,400134,974143,949-
固定資産
建物・構築物66,46269,61472,648-
機械・運搬具112,040119,276126,025-
土地37,14237,35837,554-
建設仮勘定6,2708,4967,050-
有形固定資産105,435113,285116,946-
のれん--3,387-
無形固定資産3,8412,96812,787-
投資有価証券24,32827,50524,335-
繰延税金資産2,4581,5332,071-
貸倒引当金-125-123-123-
敷金および保証金----
投資その他の資産32,53734,72332,233-
固定資産141,814150,977161,966-
総資産267,215285,952305,916-
 
負債
有利子負債合計34,84426,59442,963-
仕入債務24,81121,35322,062-
前受金----
未払法人税等2,6313,2392,269-
繰延税金負債(固定)10,1739,8686,338-
負債110,997116,187130,461-
 
純資産
資本金17,07617,07617,076-
資本剰余金12,66113,55913,559-
利益剰余金123,063133,394142,442-
自己株式-2,086-1,032-1,047-
非支配株主持分3,7441,8481,720-
純資産156,218169,765175,454-
キャッシュフロー(百万円)
研究開発費(百万円)
C/S
2017.32018.32019.32020.3
営業CF
税金等調整前当期純利益21,57521,16419,432-
減価償却費10,34211,00512,366-
のれん償却額568400478-
減損損失28-2,193-
受取利息及び受取配当金----
売上債権の増減額-2,455-4,6422,340-
棚卸資産の増減額-1,188-3,486-4,664-
仕入債務の増減額8398,848-3,523-
営業CF25,43427,65724,197-
投資CF
有価証券の取得-229-11-212-
有価証券の売却・償還190328-
固定資産の購入-14,151-15,542-17,273-
固定資産の売却135167198-
貸付け-25-24-18-
貸付金の回収272419-
投資CF-13,420-17,389-32,088-
財務CF
短期借入金の純増減額9131,0421,813-
長期借入れ5661,0221,274-
長期借入金の返済-1,254-10,432-407-
社債の発行--14,913-
社債の償還----
自己株式の取得-12-11-15-
自己株式の売却-00-
配当金の支払-3,928-4,544-4,731-
財務CF-4,084-13,19112,679-
換算差額-649374-414-
その他
2017.32018.32019.32020.3
設備投資額13,99018,09030,097-
研究開発費----
発行済株式総数37,412,304株37,854,012株37,850,851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
2017.32018.32019.32020.3
従業員数7,886人8,358人8,818人-
売上/従業員(千円)25,20425,20425,810-
営利/従業員(千円)2,7452,7452,476-
四半期売上(百万円)
売上5y CAGR・予想:3.6 %
四半期利益(百万円)
営利5y CAGR・予想:-7.1 %
純利5y CAGR・予想:-2.2 %
P/L
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
売上198,76249,870102,778155,574215,71655,480116,492176,180238,51555,894114,254169,139235,000
前期比97.4%25.1%51.7%78.3%108.5%25.7%54.0%81.7%110.6%23.4%47.9%70.9%98.5%
売上原価138,19135,35272,736109,357152,62939,23782,931125,507171,95840,72483,557123,380-
売上総利益60,57114,51730,04246,21763,08716,24233,56050,67366,55615,16930,69645,758-
%30.5%29.1%29.2%29.7%29.2%29.3%28.8%28.8%27.9%27.1%26.9%27.1%-
販管費38,92410,18620,54131,00942,39210,80221,91633,02944,76711,51022,46533,135-
営業利益21,6474,3319,50015,20720,6945,44011,64317,64421,7893,6598,23112,62316,100
前期比100.4%20.0%43.9%70.2%95.6%26.3%56.3%85.3%105.3%16.8%37.8%57.9%73.9%
%10.9%8.7%9.2%9.8%9.6%9.8%10.0%10.0%9.1%6.5%7.2%7.5%6.9%
受取利息および受取配当金7695165478608995566059481,0017057521,098-
持分法による投資利益17---5---27----
営業外収益1,5057201,1191,5771,7847071,1051,5921,8099341,2481,629-
支払利息284621311872676215623636496205286-
持分法による投資損失-------------
営業外費用1,1481303794627353696451,0391,976279629942-
経常利益22,0044,92010,23916,32121,7435,77812,10418,19721,6214,3148,85013,31016,400
固定資産売却益-------------
投資有価証券売却益10------------
特別利益10------44----
固定資産売却損-------------
投資有価証券売却損-------------
減損損失28-------2,193----
特別損失439112112281579---2,193-22-
税引前利益21,5754,80710,12616,03921,1645,77812,10418,20119,4324,3148,84713,307-
法人税等6,7211,6443,2594,6996,4221,5433,4025,1995,5771,0912,3183,621-
%31.2%34.2%32.2%29.3%30.3%26.7%28.1%28.6%28.7%25.3%26.2%27.2%-
当期純利益14,8543,1636,86611,34014,7414,2358,70113,00213,8553,2226,5299,685-
非支配株主に帰属する当期純利益2571131527516325875213262-
親会社株主に帰属する当期純利益14,5963,1526,83511,28714,6664,2188,66912,94413,7793,2016,4969,62311,700
前期比114.3%21.6%46.8%77.3%100.5%28.8%59.1%88.3%94.0%23.2%47.1%69.8%84.9%
%7.3%6.3%6.7%7.3%6.8%7.6%7.4%7.3%5.8%5.7%5.7%5.7%5.0%
 
EBITDA32,55732,55732,55732,55732,55732,09932,09932,09932,09934,63334,63334,63328,944
EPS390.1円387.4円387.4円387.4円387.4円387.4円364.0円364.0円364.0円364.0円364.0円364.0円309.1円
BPS4,075.5円4,119.5円4,119.5円4,273.7円4,411.9円4,436.0円4,477.5円4,634.6円4,578.8円4,590.0円4,648.8円4,648.8円-
期初会社予想
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
売上高(期初予)206,000205,000205,000205,000205,000225,000225,000225,000225,000249,000249,000249,000235,000
対実績比96.5%24.3%50.1%75.9%105.2%24.7%51.8%78.3%106.0%22.4%45.9%67.9%-
営業利益(期初予)20,80020,50020,50020,50020,50021,30021,30021,30021,30020,80020,80020,80016,100
対実績比104.1%21.1%46.3%74.2%100.9%25.5%54.7%82.8%102.3%17.6%39.6%60.7%-
純利益(期初予)13,40014,50014,50014,50014,50015,10015,10015,10015,10015,10015,10015,10011,700
対実績比108.9%21.7%47.1%77.8%101.1%27.9%57.4%85.7%91.3%21.2%43.0%63.7%-
配当
ROEデュポン分解
β
マルチプル
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
企業価値182,105191,777178,717177,748166,667163,736213,623149,970162,621143,543139,967155,485-
時価総額173,593183,220170,160172,238163,908166,556199,106136,836149,511133,043130,770146,288-
純有利子負債8,5128,5578,5575,5102,759-2,82014,51713,13413,11010,5009,1979,197-
PER(会予)13.7倍12.6倍11.7倍11.3倍11.3倍11.0倍13.1倍9.0倍9.8倍8.8倍8.7倍12.5倍-
PBR1.1倍1.2倍1.1倍1.1倍1.0倍1.0倍1.2倍0.8倍0.9倍0.8倍0.7倍0.8倍-
PER × PBR15.6倍14.8倍12.8倍12.0倍11.1倍10.9倍15.4倍7.0倍8.5倍6.7倍6.4倍10.4倍-
EV/EBITDA(会予)5.9倍6.1倍5.7倍9.9倍5.3倍5.0倍6.5倍4.5倍4.9倍4.3倍4.2倍5.4倍-
PSR(会予)0.9倍0.9倍0.8倍1.8倍0.8倍0.7倍0.8倍0.6倍0.6倍0.5倍0.5倍0.6倍-
PCFR(会予)7.4倍7.2倍6.7倍6.6倍6.5倍6.3倍7.5倍5.1倍5.6倍4.8倍4.7倍6.0倍-
配当金120.0円---120.0円---120.0円---120.0円
配当利回り2.6%2.5%2.7%2.6%2.8%2.7%2.3%3.3%3.0%3.4%3.5%3.1%-
配当性向30.8%30.8%30.8%30.8%30.8%31.0%31.0%31.0%31.0%33.0%33.0%33.0%-
自己資本配当率0.6%0.6%0.6%0.6%0.5%0.5%1.6%1.6%1.6%1.6%1.5%1.5%-
ROE9.6%9.4%9.4%9.1%8.8%8.7%8.1%7.9%8.0%7.9%7.8%7.8%-
純利益率(再掲)7.3%6.3%6.7%7.3%6.8%7.6%7.4%7.3%5.8%5.7%5.7%5.7%-
総資産回転率0.7回0.8回0.8回0.8回0.8回0.8回0.8回0.8回0.8回0.8回0.8回0.8回-
財務レバレッジ1.8倍1.7倍1.7倍1.7倍1.7倍1.7倍1.8倍1.8倍1.8倍1.8倍1.7倍1.7倍-
実質ROE9.4%9.3%9.3%9.0%8.7%8.7%8.1%7.8%7.9%7.9%7.8%7.8%-
ROIC8.0%7.5%7.5%7.6%7.4%7.3%7.6%7.4%7.5%7.4%7.5%7.5%-
ROA5.5%5.5%5.5%5.3%5.2%5.1%4.5%4.5%4.5%4.5%4.6%4.6%-
β1.181.181.181.131.141.291.371.401.501.551.571.58-
βの決定係数(R2)0.490.450.450.430.460.510.560.610.680.700.720.72-
自己資本比率(%)
利益剰余金(百万円)
有利子負債(百万円)
B/S
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
流動資産
現金26,33225,87320,73823,83529,59028,44930,27029,85333,64729,48131,94528,404-
売上債権41,10936,88136,88140,21539,17542,58649,61146,96944,09846,72142,08742,087-
棚卸資産33,87435,79035,79036,90840,04937,67539,52740,33143,44341,88341,33641,336-
有価証券7,9657,9628,2254,2064,6463,6204,1834,2074,1146,0045,6483,952-
前払金-------------
繰延税金資産3,095---2,829--------
貸倒引当金-344-337-354-367-406-442-472-443-397-560-588-612-
流動資産125,400123,673127,301129,260134,974137,863141,342141,940143,949141,391136,480136,536-
固定資産
建物・構築物66,46226,75126,74326,54769,61429,34129,28829,66972,64829,53630,99032,304-
機械・運搬具112,04032,40933,51534,639119,27637,01237,53237,906126,02538,06137,48837,721-
土地37,14237,16237,21237,35237,35837,55437,58837,58937,55437,52837,49537,522-
建設仮勘定6,2708,4749,5849,2228,4966,5136,8136,8887,0508,7107,9695,697-
有形固定資産105,435107,944110,345111,214113,285114,100114,843115,722116,946118,002118,174117,741-
のれん-----13,05513,36712,7753,3873,2473,2033,204-
無形固定資産3,8413,5173,2423,0542,96815,73715,97415,37112,78712,18811,86811,967-
投資有価証券24,32825,04426,57829,18827,50527,80628,63923,42724,33523,79124,68427,634-
繰延税金資産2,458---1,533---2,071----
貸倒引当金-125-125-124-123-123-123-123-123-123-119-120-120-
敷金および保証金-------------
投資その他の資産32,53733,21734,82037,35834,72335,56136,38131,15732,23331,55332,46135,234-
固定資産141,814144,679148,408151,627150,977165,399167,199162,251161,966161,744162,504164,943-
総資産267,215268,353275,709280,887285,952303,263308,541304,192305,916303,136298,984301,479-
 
負債
有利子負債合計34,84434,43034,43026,24826,59426,77042,96643,40442,96344,14741,14241,142-
仕入債務24,81121,00021,00019,81021,35323,22723,99320,62522,06220,28917,06517,065-
前受金-------------
未払法人税等2,6311,0692,7901,5103,2397722,5979362,2696562,003357-
繰延税金負債(固定)10,173---9,868---6,338----
負債110,997110,666112,216112,090116,187131,954131,384129,140130,461128,015121,415123,929-
 
純資産
資本金17,07617,07617,07617,07617,07617,07617,07617,07617,07617,07617,07617,076-
資本剰余金12,66113,55913,55913,55913,55913,55913,55913,55913,55913,55913,55913,559-
利益剰余金123,063123,962127,645130,015133,394135,152139,603141,607142,442143,372146,667147,523-
自己株式-2,086-1,024-1,028-1,030-1,032-1,035-1,039-1,045-1,047-1,048-1,050-4,251-
非支配株主持分3,7441,7401,7151,7901,8481,8231,7291,7381,7201,7721,6131,577-
純資産156,218157,686163,492168,797169,765171,308177,157175,051175,454175,120177,569177,550-
キャッシュフロー(百万円)
研究開発費(百万円)
C/S
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
営業CF
税金等調整前当期純利益21,5754,80710,12616,03921,1645,77812,10418,20119,4324,3148,84713,307-
減価償却費10,342-5,332-11,005-5,708-12,366-6,365--
のれん償却額568-263-400-395-478-90--
減損損失28-------2,193----
受取利息及び受取配当金-------------
売上債権の増減額-2,455--2,859--4,642-557-2,340-5,624--
棚卸資産の増減額-1,188--2,493--3,486--2,470--4,664--264--
仕入債務の増減額839-5,645-8,848--3,978--3,523--6,357--
営業CF25,434-12,871-27,657-10,380-24,197-11,778--
投資CF
有価証券の取得-2290-60-110-2070-2120-70-
有価証券の売却・償還1900000220032802150-
固定資産の購入-14,1510-7,9070-15,5420-8,5060-17,2730-6,7610-
固定資産の売却135065016709401980540-
貸付け-25--12--24--8--18--9--
貸付金の回収27-12-24-10-19-11--
投資CF-13,420--9,069--17,389--21,516--32,088--6,418--
財務CF
短期借入金の純増減額913-1,331-1,042-14,772-1,813--257--
長期借入れ566-465-1,022-460-1,274-8,199--
長期借入金の返済-1,254--10,308--10,432--170--407--301--
社債の発行--------14,913----
社債の償還-----------10,000--
自己株式の取得-12--6--11--6--15--2--
自己株式の売却----0---0-0--
配当金の支払-3,928--2,462--4,544--2,460--4,731--2,271--
財務CF-4,084--11,131--13,191-12,463-12,679--4,961--
換算差額-649-330-374--237--414--455--
その他
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
設備投資額13,990---18,090---30,097----
研究開発費-------------
発行済株式総数37,412,304株37,855,322株37,855,322株37,854,473株37,854,012株37,853,547株37,852,936株37,852,166株37,850,851株37,850,138株37,849,411株37,849,411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
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
従業員数7,886人---8,358人---8,818人----
売上/従業員(千円)25,20425,20425,20425,20425,20425,81025,81025,81025,81027,04927,04927,049-
営利/従業員(千円)2,7452,7452,7452,7452,7452,4762,4762,4762,4762,4712,4712,471-