通期売上(百万円)
売上5y CAGR・予想:-3.4 %
通期利益(百万円)
営利5y CAGR・予想:-23.6 %
純利5y CAGR・予想:-40.2 %
P/L
2018.32019.32020.32021.3E
売上2,070,3592,149,1682,079,9361,700,000
前期比106.0%103.8%96.8%81.7%
売上原価1,700,7261,765,2701,730,354-
売上総利益369,632383,898349,582-
%17.9%17.9%16.8%-
販管費202,867207,116208,999-
営業利益166,765176,781140,58250,000
前期比113.9%106.0%79.5%35.6%
%8.1%8.2%6.8%2.9%
受取利息および受取配当金5,7517,4497,531-
持分法による投資利益6,6197,9558,033-
営業外収益15,82418,85519,686-
支払利息1,8922,1682,833-
持分法による投資損失----
営業外費用8,9736,6369,392-
経常利益173,616189,001150,876-
固定資産売却益386805289-
投資有価証券売却益125114-
特別利益4,5884,389304-
固定資産売却損----
投資有価証券売却損812,7345,317-
減損損失4041,202190-
特別損失2,1107,2827,669-
税引前利益176,095186,108143,511-
法人税等49,05448,03841,022-
%27.9%25.8%28.6%-
当期純利益127,040138,069102,489-
非支配株主に帰属する当期純利益21,37624,62421,256-
親会社株主に帰属する当期純利益105,663113,44481,232-
前期比112.6%107.4%71.6%-
%5.1%5.3%3.9%0.0%
 
EBITDA235,649249,401219,259-
EPS134.2円153.8円110.1円115.2円
BPS1,167.7円1,260.7円1,292.0円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)1,990,0002,140,0002,160,0001,700,000
対実績比104.0%100.4%96.3%-
営業利益(期初予)152,000176,000165,00050,000
対実績比109.7%100.4%85.2%-
純利益(期初予)99,000110,000100,000-
対実績比106.7%103.1%81.2%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価1,632円1,454円715円-
企業価値1,254,6911,071,027542,845-
時価総額1,285,2581,072,342527,563-
純有利子負債-67,210-30,71715,282-
PER(会予)11.8倍9.1倍6.2倍-
PBR1.4倍1.2倍0.6倍-
PER × PBR16.6倍10.8倍3.4倍-
EV/EBITDA(会予)5.5倍4.2倍2.5倍-
PSR(会予)0.6倍0.5倍0.3倍-
PCFR(会予)7.4倍5.7倍3.2倍-
配当金33.0円37.0円38.0円38.0円
配当利回り2.0%2.3%5.3%-
配当性向24.6%24.1%34.5%-
自己資本配当率2.8%2.9%2.9%-
ROE11.5%12.2%8.5%-
純利益率(再掲)5.1%5.3%3.9%-
総資産回転率1.0回1.0回1.0回-
財務レバレッジ2.2倍2.3倍2.3倍-
実質ROE10.7%10.5%7.4%-
ROIC9.8%10.5%7.7%-
ROA5.1%5.3%3.8%-
β1.141.251.39-
βの決定係数(R2)0.440.560.66-
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346,818328,114321,427-
売上債権279,401300,768266,919-
棚卸資産276,079307,516323,805-
有価証券----
前払金----
繰延税金資産32,176---
貸倒引当金-1,472-1,601-1,098-
流動資産1,062,9931,112,5701,119,539-
固定資産
建物・構築物389,686401,129408,081-
機械・運搬具698,299723,872749,075-
土地279,756282,623282,125-
建設仮勘定24,89134,05029,721-
有形固定資産705,854731,344761,922-
のれん10,0937,0584,573-
無形固定資産26,71125,37923,274-
投資有価証券178,628175,926154,556-
繰延税金資産53,48754,938--
貸倒引当金-1,289-467-674-
敷金および保証金----
投資その他の資産270,979261,600247,352-
固定資産1,003,5451,018,3241,032,550-
総資産2,066,5392,130,8942,152,090-
 
負債
有利子負債合計279,608297,397336,709-
仕入債務350,555339,997312,048-
前受金----
未払法人税等24,53920,63617,060-
繰延税金負債(固定)1,4872,862--
負債980,0291,014,5591,018,708-
 
純資産
資本金40,64440,64440,644-
資本剰余金42,12742,12942,503-
利益剰余金785,096871,845924,729-
自己株式-71,362-150,485-150,441-
非支配株主持分166,923186,553180,442-
純資産1,086,5101,116,3351,133,381-
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176,095186,108143,511-
減価償却費66,31669,97676,213-
のれん償却額2,5682,6442,464-
減損損失4041,202190-
受取利息及び受取配当金-5,751-7,450-7,531-
売上債権の増減額-12,857-17,94723,232-
棚卸資産の増減額-5,168-29,898-25,039-
仕入債務の増減額6,7305,781-14,098-
営業CF176,804156,546123,701-
投資CF
有価証券の取得-807-92-434-
有価証券の売却・償還2261752-
固定資産の購入-99,437-94,768-103,467-
固定資産の売却3,0444,9046,475-
貸付け-279-345-333-
貸付金の回収289404312-
投資CF-107,035-86,569-92,659-
財務CF
短期借入金の純増減額14,7011,1667,408-
長期借入れ42,00050,00059,000-
長期借入金の返済-25,071-35,677-37,289-
社債の発行----
社債の償還----
自己株式の取得-14-79,435-5-
自己株式の売却----
配当金の支払-25,195-26,694-28,057-
財務CF-4,432-106,914-25,153-
換算差額3,9324,815-7,225-
その他
2018.32019.32020.32021.3E
設備投資額-72,20080,700-
研究開発費-98,90098,000-
発行済株式総数787,533,207株737,509,742株737,541,474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35,262人37,263人36,856人-
売上/従業員(千円)58,71457,67656,434-
営利/従業員(千円)4,7294,7443,814-
四半期売上(百万円)
売上5y CAGR・予想:-3.4 %
四半期利益(百万円)
営利5y CAGR・予想:-23.6 %
純利5y CAGR・予想:-40.2 %
P/L
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上984,6861,499,6402,070,359488,1191,035,0431,588,3542,149,168509,0641,020,1151,518,2622,079,936327,4461,700,000
前期比108.4%108.3%106.0%105.2%105.1%105.9%103.8%104.3%98.6%95.6%96.8%64.3%81.7%
売上原価812,0281,227,7231,700,726391,789846,4141,295,4571,765,270416,184842,8141,249,7491,730,354282,116-
売上総利益172,657271,916369,63296,330188,628292,897383,89892,880177,301268,513349,58245,329-
%17.5%18.1%17.9%19.7%18.2%18.4%17.9%18.2%17.4%17.7%16.8%13.8%-
販管費98,543148,872202,86743,885101,137148,766207,11646,850105,949154,853208,99943,142-
営業利益74,113123,043166,76552,44487,491144,130176,78146,02971,351113,660140,5822,18750,000
前期比108.4%112.2%113.9%132.4%118.1%117.1%106.0%87.8%81.6%78.9%79.5%4.8%35.6%
%7.5%8.2%8.1%10.7%8.5%9.1%8.2%9.0%7.0%7.5%6.8%0.7%2.9%
受取利息および受取配当金2,8043,5925,7511,1653,8784,8737,4491,4894,4625,6637,531953-
持分法による投資利益5,5417,5166,6191,8794,5825,2847,9554422,8773,7688,033182-
営業外収益11,27314,04815,8244,99010,20013,55618,8552,8029,06111,98019,6861,765-
支払利息1,0471,4151,8925001,0931,4472,1687491,4552,2202,833700-
持分法による投資損失-------------
営業外費用2,5883,4928,9731,2264,3995,5496,6364,8596,9538,3309,3923,436-
経常利益82,798133,599173,61656,20893,292152,136189,00143,97273,459117,310150,87651648,000
固定資産売却益137152386484485487805224427328980-
投資有価証券売却益7474125---133614--
特別利益4,2884,3044,5884842,7503,4194,389264827930480-
固定資産売却損-------------
投資有価証券売却損--81---2,734---5,317--
減損損失356365404-10711,202-96130190--
特別損失1,4531,4982,1102922,0732,4537,2821991,0231,5187,6693,256-
税引前利益85,633136,405176,09556,39993,970153,103186,10843,79972,484116,071143,511-2,659-
法人税等23,58137,07049,05412,18225,21839,46748,0389,77321,97332,47141,0228,210-
%27.5%27.2%27.9%21.6%26.8%25.8%25.8%22.3%30.3%28.0%28.6%-308.8%-
当期純利益62,05199,335127,04044,21768,751113,636138,06934,02650,51183,599102,489-10,870-
非支配株主に帰属する当期純利益9,39315,51621,3766,11312,31719,68724,6246,64010,67816,19721,256-1,110-
親会社株主に帰属する当期純利益52,65783,818105,66338,10356,43493,949113,44427,38639,83267,40281,232-9,75912,000
前期比135.9%121.6%112.6%116.0%107.2%112.1%107.4%71.9%70.6%71.7%71.6%-35.6%14.8%
%5.3%5.6%5.1%7.8%5.5%5.9%5.3%5.4%3.9%4.4%3.9%-0.7%
 
EBITDA108,271123,043235,64952,444123,089144,130249,40146,029110,162113,660219,2592,187-
EPS134.2円134.2円134.2円144.1円153.8円153.8円153.8円110.1円110.1円110.1円110.1円110.1円0.0円
BPS1,102.3円1,156.0円1,167.7円1,194.4円1,213.2円1,222.6円1,260.7円1,271.5円1,277.1円1,303.4円1,292.0円1,272.1円-
期初会社予想
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上高(期初予)1,990,0001,990,0001,990,0002,140,0002,140,0002,140,0002,140,0002,160,0002,160,0002,160,0002,160,0001,700,0001,700,000
対実績比49.5%75.4%104.0%22.8%48.4%74.2%100.4%23.6%47.2%70.3%96.3%19.3%-
営業利益(期初予)152,000152,000152,000176,000176,000176,000176,000165,000165,000165,000165,00050,00050,000
対実績比48.8%80.9%109.7%29.8%49.7%81.9%100.4%27.9%43.2%68.9%85.2%4.4%-
純利益(期初予)99,00099,00099,000110,000110,000110,000110,000100,000100,000100,000100,000-12,000
対実績比53.2%84.7%106.7%34.6%51.3%85.4%103.1%27.4%39.8%67.4%81.2%--
配当
ROEデュポン分解
β
マルチプル
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
株価1,491円1,887円1,632円1,472円1,791円1,549円1,454円1,227円1,191円1,299円715円973円-
企業価値1,137,9411,444,2821,254,6911,091,6451,315,7771,118,5421,071,027874,207854,839934,863542,845757,100-
時価総額1,174,2031,486,0851,285,2581,158,8551,410,4691,142,4551,072,342904,924878,046958,070527,563717,849-
純有利子負債-41,803-30,567-67,210-94,692-23,913-1,315-30,717-39,043-23,20743,44115,28239,251-
PER(会予)11.9倍13.6倍11.8倍10.5倍12.8倍9.7倍9.1倍9.0倍8.8倍10.6倍6.2倍--
PBR1.4倍1.7倍1.4倍1.3倍1.5倍1.3倍1.2倍1.0倍0.9倍1.0倍0.6倍0.8倍-
PER × PBR16.6倍23.3倍16.6倍13.3倍19.2倍12.4倍10.8倍8.8倍8.2倍10.8倍3.4倍--
EV/EBITDA(会予)5.3倍6.3倍5.5倍4.5倍5.4倍4.4倍4.2倍3.7倍3.6倍4.2倍2.5倍5.9倍-
PSR(会予)0.6倍0.7倍0.6倍0.5倍0.7倍0.5倍0.5倍0.4倍0.4倍0.4倍0.3倍0.4倍-
PCFR(会予)7.2倍8.6倍7.4倍6.5倍7.9倍6.1倍5.7倍5.2倍5.1倍5.9倍3.2倍9.1倍-
配当金--33.0円---37.0円---38.0円-0.0円
配当利回り2.1%1.7%2.0%2.2%1.8%2.1%2.3%3.0%3.1%2.8%5.3%3.9%-
配当性向--24.6%---24.1%---34.5%--
自己資本配当率3.0%2.9%2.8%3.1%3.0%3.0%2.9%3.0%3.0%2.9%2.9%3.0%-
ROE12.2%11.6%11.5%12.1%12.7%12.6%12.2%8.7%8.6%8.5%8.5%8.7%-
純利益率(再掲)5.3%5.6%5.1%7.8%5.5%5.9%5.3%5.4%3.9%4.4%3.9%--
総資産回転率1.1回1.0回1.0回1.0回1.0回1.1回1.0回1.0回1.0回1.0回1.0回1.0回-
財務レバレッジ2.3倍2.2倍2.2倍2.2倍2.3倍2.3倍2.3倍2.3倍2.2倍2.2倍2.3倍2.2倍-
実質ROE11.2%10.8%10.7%11.2%10.9%10.8%10.5%7.5%7.4%7.3%7.4%7.5%-
ROIC10.4%9.9%9.8%10.6%11.0%10.9%10.5%8.0%8.0%7.8%7.7%7.7%-
ROA5.4%5.3%5.1%5.5%5.5%5.6%5.3%3.8%3.9%3.8%3.8%4.0%-
β1.071.081.141.241.251.251.251.291.291.311.391.46-
βの決定係数(R2)0.380.390.440.530.550.580.560.580.590.600.660.69-
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.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
流動資産
現金305,660306,253346,818370,092304,135281,010328,114351,626330,482278,083321,427322,404-
売上債権248,457248,379279,401245,417252,904269,005300,768255,813228,946256,190266,919162,345-
棚卸資産284,555307,518276,079306,929307,548327,267307,516342,980330,504362,833323,805332,078-
有価証券-------------
前払金-------------
繰延税金資産32,43330,75332,176----------
貸倒引当金-1,392-1,441-1,472-1,614-1,234-1,331-1,601-1,622-1,536-1,543-1,098-984-
流動資産1,018,8521,042,5211,062,9931,075,4071,025,1621,040,0031,112,5701,125,3681,077,3121,096,7781,119,5391,013,971-
固定資産
建物・構築物165,645166,135389,686175,912175,986175,264401,129175,311173,915174,297408,081175,947-
機械・運搬具154,528151,180698,299154,957156,862155,909723,872152,342164,665170,120749,075172,847-
土地277,954278,079279,756281,604282,550282,181282,623282,625282,677282,719282,125282,449-
建設仮勘定26,47938,34924,89125,07428,43229,90634,05039,07732,03933,41529,72127,704-
有形固定資産685,113695,390705,854704,101716,044718,556731,344742,601748,371759,850761,922763,032-
のれん11,37710,78810,0938,9398,5208,0217,0586,5355,7075,0614,5733,784-
無形固定資産28,92127,86026,71127,34326,21425,96225,37924,91323,68322,36523,27422,161-
投資有価証券159,140186,842178,628178,307187,411169,895175,926167,809161,488165,529154,556164,361-
繰延税金資産29,14619,72253,48756,37852,26452,45154,938------
貸倒引当金-1,234-1,260-1,289-1,289-1,295-1,171-467-482-491-529-674-686-
敷金および保証金-------------
投資その他の資産224,409243,994270,979274,241279,709254,117261,600258,498251,762251,458247,352251,160-
固定資産938,444967,2451,003,5451,005,6861,021,969998,6351,018,3241,026,0121,023,8181,033,6751,032,5501,036,353-
総資産1,957,2972,009,7672,066,5392,081,0932,047,1312,038,6392,130,8942,151,3812,101,1302,130,4532,152,0902,050,325-
 
負債
有利子負債合計263,857275,686279,608275,400280,222279,695297,397312,583307,275321,524336,709361,655-
仕入債務332,335337,560350,555326,428339,057335,493339,997325,566297,769313,596312,048219,118-
前受金-------------
未払法人税等19,08413,17824,53924,67419,99811,09420,63620,53815,0928,71417,06014,066-
繰延税金負債(固定)2,5272,5711,4871,1191,5021,4232,862------
負債940,881937,697980,029970,925991,421956,9121,014,5591,020,874982,512988,0471,018,708932,546-
 
純資産
資本金40,64440,64440,64440,64440,64440,64440,64440,64440,64440,64440,64440,644-
資本剰余金42,12742,12742,12742,12742,12742,12942,12942,15842,17142,48742,50342,503-
利益剰余金744,706763,252785,096809,796828,089852,346871,845884,914897,362910,915924,729900,939-
自己株式-71,353-71,358-71,362-71,365-150,054-150,482-150,485-150,465-150,438-150,440-150,441-150,442-
非支配株主持分148,350161,691166,923169,578160,599180,041186,553192,718176,687181,107180,442179,520-
純資産1,016,4151,072,0691,086,5101,110,1681,055,7101,081,7271,116,3351,130,5061,118,6171,142,4051,133,3811,117,779-
キャッシュフロー(百万円)
C/S
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
営業CF
税金等調整前当期純利益85,633136,405176,09556,39993,970153,103186,10843,79972,484116,071143,511-2,659-
減価償却費32,995-66,316-34,284-69,976-37,565-76,213--
のれん償却額1,163-2,568-1,314-2,644-1,246-2,464--
減損損失356365404-10711,202-96130190--
受取利息及び受取配当金-2,804--5,751--3,879--7,450--4,462--7,531--
売上債権の増減額17,608--12,857-29,709--17,947-68,460-23,232--
棚卸資産の増減額-11,391--5,168--27,371--29,898--28,559--25,039--
仕入債務の増減額-4,041-6,730-2,421-5,781--32,182--14,098--
営業CF85,539-176,804-104,506-156,546-83,895-123,701--
投資CF
有価証券の取得-6030-8070-790-920-1540-4340-
有価証券の売却・償還1560226000170130520-
固定資産の購入-42,9890-99,4370-46,0440-94,7680-47,4620-103,4670-
固定資産の売却1,29103,04402,37904,90402,71706,4750-
貸付け-145--279--167--345--162--333--
貸付金の回収142-289-251-404-158-312--
投資CF-47,221--107,035--33,017--86,569--43,547--92,659--
財務CF
短期借入金の純増減額5,265-14,701--9,321-1,166--10,060-7,408--
長期借入れ26,000-42,000-22,500-50,000-18,000-59,000--
長期借入金の返済-16,034--25,071--12,084--35,677--6,858--37,289--
社債の発行-------------
社債の償還-------------
自己株式の取得-5--14--79,005--79,435--2--5--
自己株式の売却-------------
配当金の支払-12,614--25,195--13,401--26,694--14,027--28,057--
財務CF-11,340--4,432--111,211--106,914--34,655--25,153--
換算差額3,935-3,932-4,383-4,815--921--7,225--
その他
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
設備投資額------72,200---80,700--
研究開発費------98,900---98,000--
発行済株式総数787,538,619株787,535,401株787,533,207株787,531,602株737,781,525株737,511,533株737,509,742株737,525,606株737,544,277株737,542,856株737,541,474株737,540,975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.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
従業員数--35,262人---37,263人---36,856人--
売上/従業員(千円)--58,714---57,676---56,434--
営利/従業員(千円)--4,729---4,744---3,814--
四半期売上(百万円)
売上5y CAGR・予想:-3.4 %
四半期利益(百万円)
営利5y CAGR・予想:-23.6 %
純利5y CAGR・予想:-40.2 %
P/L
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上520,762514,954570,719488,119546,924553,311560,814509,064511,051498,147561,674327,4461,700,000
前期比109.5%108.1%100.4%105.2%105.0%107.4%98.3%104.3%93.4%90.0%100.2%64.3%81.7%
売上原価432,424415,695473,003391,789454,625449,043469,813416,184426,630406,935480,605282,116-
売上総利益88,33799,25997,71696,33092,298104,26991,00192,88084,42191,21281,06945,329-
%17.0%19.3%17.1%19.7%16.9%18.8%16.2%18.2%16.5%18.3%14.4%13.8%-
販管費53,83150,32953,99543,88557,25247,62958,35046,85059,09948,90454,14643,142-
営業利益34,50548,93043,72252,44435,04756,63932,65146,02925,32242,30926,9222,18750,000
前期比109.4%118.5%118.9%132.4%101.6%115.8%74.7%87.8%72.3%74.7%82.5%4.8%35.6%
%6.6%9.5%7.7%10.7%6.4%10.2%5.8%9.0%5.0%8.5%4.8%0.7%2.9%
受取利息および受取配当金0001,1650001,489000953-
持分法による投資利益2,8541,975-8971,8792,7037022,6714422,4358914,265182-
営業外収益5,7452,7751,7764,9905,2103,3565,2992,8026,2592,9197,7061,765-
支払利息533368477500593354721749706765613700-
持分法による投資損失000-000-000--
営業外費用1,2329045,4811,2263,1731,1501,0874,8592,0941,3771,0623,436-
経常利益39,01950,80140,01756,20837,08458,84436,86543,97229,48743,85133,56651648,000
固定資産売却益124152344841231822222291680-
投資有価証券売却益74051-0013038--
特別利益199162844842,26666997026222312580-
固定資産売却損000-000-000--
投資有価証券売却損0081-002,734-005,317--
減損損失229939-10611,131-963460--
特別損失1,103456122921,7813804,8291998244956,1513,256-
税引前利益38,11450,77239,69056,39937,57159,13333,00543,79928,68543,58727,440-2,659-
法人税等13,37913,48911,98412,18213,03614,2498,5719,77312,20010,4988,5518,210-
%35.1%26.6%30.2%21.6%34.7%24.1%26.0%22.3%42.5%24.1%31.2%-308.8%-
当期純利益24,73437,28427,70544,21724,53444,88524,43334,02616,48533,08818,890-10,870-
非支配株主に帰属する当期純利益4,9116,1235,8606,1136,2047,3704,9376,6404,0385,5195,059-1,110-
親会社株主に帰属する当期純利益19,82331,16121,84538,10318,33137,51519,49527,38612,44627,57013,830-9,75912,000
前期比125.9%103.4%87.5%116.0%92.5%120.4%89.2%71.9%67.9%73.5%70.9%-35.6%14.8%
%3.8%6.1%3.8%7.8%3.4%6.8%3.5%5.4%2.4%5.5%2.5%-3.0%0.7%
 
EBITDA108,271123,043235,64952,444123,089144,130249,40146,029110,162113,660219,2592,187-
EPS134.2円134.2円134.2円144.1円153.8円153.8円153.8円110.1円110.1円110.1円110.1円110.1円0.0円
BPS1,102.3円1,156.0円1,167.7円1,194.4円1,213.2円1,222.6円1,260.7円1,271.5円1,277.1円1,303.4円1,292.0円1,272.1円-
期初会社予想
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上高(期初予)1,990,0001,990,0001,990,0002,140,0002,140,0002,140,0002,140,0002,160,0002,160,0002,160,0002,160,0001,700,0001,700,000
対実績比49.5%75.4%104.0%22.8%48.4%74.2%100.4%23.6%47.2%70.3%96.3%19.3%-
営業利益(期初予)152,000152,000152,000176,000176,000176,000176,000165,000165,000165,000165,00050,00050,000
対実績比48.8%80.9%109.7%29.8%49.7%81.9%100.4%27.9%43.2%68.9%85.2%4.4%-
純利益(期初予)99,00099,00099,000110,000110,000110,000110,000100,000100,000100,000100,000-12,000
対実績比53.2%84.7%106.7%34.6%51.3%85.4%103.1%27.4%39.8%67.4%81.2%--
配当
ROEデュポン分解
β
マルチプル
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
株価1,491円1,887円1,632円1,472円1,791円1,549円1,454円1,227円1,191円1,299円715円973円-
企業価値1,137,9411,444,2821,254,6911,091,6451,315,7771,118,5421,071,027874,207854,839934,863542,845757,100-
時価総額1,174,2031,486,0851,285,2581,158,8551,410,4691,142,4551,072,342904,924878,046958,070527,563717,849-
純有利子負債-41,803-30,567-67,210-94,692-23,913-1,315-30,717-39,043-23,20743,44115,28239,251-
PER(会予)11.9倍13.6倍11.8倍10.5倍12.8倍9.7倍9.1倍9.0倍8.8倍10.6倍6.2倍--
PBR1.4倍1.7倍1.4倍1.3倍1.5倍1.3倍1.2倍1.0倍0.9倍1.0倍0.6倍0.8倍-
PER × PBR16.6倍23.3倍16.6倍13.3倍19.2倍12.4倍10.8倍8.8倍8.2倍10.8倍3.4倍--
EV/EBITDA(会予)5.3倍6.3倍5.5倍4.5倍5.4倍4.4倍4.2倍3.7倍3.6倍4.2倍2.5倍5.9倍-
PSR(会予)0.6倍0.7倍0.6倍0.5倍0.7倍0.5倍0.5倍0.4倍0.4倍0.4倍0.3倍0.4倍-
PCFR(会予)7.2倍8.6倍7.4倍6.5倍7.9倍6.1倍5.7倍5.2倍5.1倍5.9倍3.2倍9.1倍-
配当金--33.0円---37.0円---38.0円-0.0円
配当利回り2.1%1.7%2.0%2.2%1.8%2.1%2.3%3.0%3.1%2.8%5.3%3.9%-
配当性向--24.6%---24.1%---34.5%--
自己資本配当率3.0%2.9%2.8%3.1%3.0%3.0%2.9%3.0%3.0%2.9%2.9%3.0%-
ROE12.2%11.6%11.5%12.1%12.7%12.6%12.2%8.7%8.6%8.5%8.5%8.7%-
純利益率(再掲)5.3%5.6%5.1%7.8%5.5%5.9%5.3%5.4%3.9%4.4%3.9%--
総資産回転率1.1回1.0回1.0回1.0回1.0回1.1回1.0回1.0回1.0回1.0回1.0回1.0回-
財務レバレッジ2.3倍2.2倍2.2倍2.2倍2.3倍2.3倍2.3倍2.3倍2.2倍2.2倍2.3倍2.2倍-
実質ROE11.2%10.8%10.7%11.2%10.9%10.8%10.5%7.5%7.4%7.3%7.4%7.5%-
ROIC10.4%9.9%9.8%10.6%11.0%10.9%10.5%8.0%8.0%7.8%7.7%7.7%-
ROA5.4%5.3%5.1%5.5%5.5%5.6%5.3%3.8%3.9%3.8%3.8%4.0%-
β1.071.081.141.241.251.251.251.291.291.311.391.46-
βの決定係数(R2)0.380.390.440.530.550.580.560.580.590.600.660.69-
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.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
流動資産
現金305,660306,253346,818370,092304,135281,010328,114351,626330,482278,083321,427322,404-
売上債権248,457248,379279,401245,417252,904269,005300,768255,813228,946256,190266,919162,345-
棚卸資産284,555307,518276,079306,929307,548327,267307,516342,980330,504362,833323,805332,078-
有価証券-------------
前払金-------------
繰延税金資産32,43330,75332,176----------
貸倒引当金-1,392-1,441-1,472-1,614-1,234-1,331-1,601-1,622-1,536-1,543-1,098-984-
流動資産1,018,8521,042,5211,062,9931,075,4071,025,1621,040,0031,112,5701,125,3681,077,3121,096,7781,119,5391,013,971-
固定資産
建物・構築物165,645166,135389,686175,912175,986175,264401,129175,311173,915174,297408,081175,947-
機械・運搬具154,528151,180698,299154,957156,862155,909723,872152,342164,665170,120749,075172,847-
土地277,954278,079279,756281,604282,550282,181282,623282,625282,677282,719282,125282,449-
建設仮勘定26,47938,34924,89125,07428,43229,90634,05039,07732,03933,41529,72127,704-
有形固定資産685,113695,390705,854704,101716,044718,556731,344742,601748,371759,850761,922763,032-
のれん11,37710,78810,0938,9398,5208,0217,0586,5355,7075,0614,5733,784-
無形固定資産28,92127,86026,71127,34326,21425,96225,37924,91323,68322,36523,27422,161-
投資有価証券159,140186,842178,628178,307187,411169,895175,926167,809161,488165,529154,556164,361-
繰延税金資産29,14619,72253,48756,37852,26452,45154,938------
貸倒引当金-1,234-1,260-1,289-1,289-1,295-1,171-467-482-491-529-674-686-
敷金および保証金-------------
投資その他の資産224,409243,994270,979274,241279,709254,117261,600258,498251,762251,458247,352251,160-
固定資産938,444967,2451,003,5451,005,6861,021,969998,6351,018,3241,026,0121,023,8181,033,6751,032,5501,036,353-
総資産1,957,2972,009,7672,066,5392,081,0932,047,1312,038,6392,130,8942,151,3812,101,1302,130,4532,152,0902,050,325-
 
負債
有利子負債合計263,857275,686279,608275,400280,222279,695297,397312,583307,275321,524336,709361,655-
仕入債務332,335337,560350,555326,428339,057335,493339,997325,566297,769313,596312,048219,118-
前受金-------------
未払法人税等19,08413,17824,53924,67419,99811,09420,63620,53815,0928,71417,06014,066-
繰延税金負債(固定)2,5272,5711,4871,1191,5021,4232,862------
負債940,881937,697980,029970,925991,421956,9121,014,5591,020,874982,512988,0471,018,708932,546-
 
純資産
資本金40,64440,64440,64440,64440,64440,64440,64440,64440,64440,64440,64440,644-
資本剰余金42,12742,12742,12742,12742,12742,12942,12942,15842,17142,48742,50342,503-
利益剰余金744,706763,252785,096809,796828,089852,346871,845884,914897,362910,915924,729900,939-
自己株式-71,353-71,358-71,362-71,365-150,054-150,482-150,485-150,465-150,438-150,440-150,441-150,442-
非支配株主持分148,350161,691166,923169,578160,599180,041186,553192,718176,687181,107180,442179,520-
純資産1,016,4151,072,0691,086,5101,110,1681,055,7101,081,7271,116,3351,130,5061,118,6171,142,4051,133,3811,117,779-
キャッシュフロー(百万円)
C/S
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
営業CF
税金等調整前当期純利益85,633136,405176,09556,39993,970153,103186,10843,79972,484116,071143,511-2,659-
減価償却費32,995-66,316-34,284-69,976-37,565-76,213--
のれん償却額1,163-2,568-1,314-2,644-1,246-2,464--
減損損失229939-10611,131-963460--
受取利息及び受取配当金-2,804--5,751--3,879--7,450--4,462--7,531--
売上債権の増減額17,608--12,857-29,709--17,947-68,460-23,232--
棚卸資産の増減額-11,391--5,168--27,371--29,898--28,559--25,039--
仕入債務の増減額-4,041-6,730-2,421-5,781--32,182--14,098--
営業CF85,539-176,804-104,506-156,546-83,895-123,701--
投資CF
有価証券の取得-6030-8070-790-920-1540-4340-
有価証券の売却・償還1560226000170130520-
固定資産の購入-42,9890-99,4370-46,0440-94,7680-47,4620-103,4670-
固定資産の売却1,29103,04402,37904,90402,71706,4750-
貸付け-145--279--167--345--162--333--
貸付金の回収142-289-251-404-158-312--
投資CF-47,221--107,035--33,017--86,569--43,547--92,659--
財務CF
短期借入金の純増減額5,265-14,701--9,321-1,166--10,060-7,408--
長期借入れ26,000-42,000-22,500-50,000-18,000-59,000--
長期借入金の返済-16,034--25,071--12,084--35,677--6,858--37,289--
社債の発行-------------
社債の償還-------------
自己株式の取得-5--14--79,005--79,435--2--5--
自己株式の売却-------------
配当金の支払-12,614--25,195--13,401--26,694--14,027--28,057--
財務CF-11,340--4,432--111,211--106,914--34,655--25,153--
換算差額3,935-3,932-4,383-4,815--921--7,225--
その他
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
設備投資額------72,200---80,700--
研究開発費------98,900---98,000--
発行済株式総数787,538,619株787,535,401株787,533,207株787,531,602株737,781,525株737,511,533株737,509,742株737,525,606株737,544,277株737,542,856株737,541,474株737,540,975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.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
従業員数--35,262人---37,263人---36,856人--
売上/従業員(千円)--58,714---57,676---56,434--
営利/従業員(千円)--4,729---4,744---3,814--