通期売上(百万円)
売上5y CAGR・予想:-1.4 %
通期利益(百万円)
営利5y CAGR・予想:-12.0 %
純利5y CAGR・予想:-8.9 %
P/L
2018.32019.32020.32021.3E
売上3,757,2193,871,4963,488,433-
前期比118.5%103.0%90.1%-
売上原価2,651,4732,738,9582,514,779-
売上総利益1,105,7451,132,538973,654-
%29.4%29.3%27.9%-
販管費731,563808,172758,585-
営業利益374,182324,365215,069-
前期比140.3%86.7%66.3%-
%10.0%8.4%6.2%-
受取利息および受取配当金35,63254,89428,775-
持分法による投資利益-5,0296,315-
営業外収益47,70979,40651,021-
支払利息8,1524,2415,555-
持分法による投資損失13,870---
営業外費用39,10424,24120,675-
経常利益382,787379,530245,414-
固定資産売却益2,7971,7631,501-
投資有価証券売却益1,281158170-
特別利益4,0791,9221,672-
固定資産売却損247210279-
投資有価証券売却損----
減損損失2,5851,514565-
特別損失2,83383,0621,060-
税引前利益384,033298,390246,027-
法人税等108,59361,50283,418-
%28.3%20.6%33.9%-
当期純利益275,439236,887162,608-
非支配株主に帰属する当期純利益59,70958,12828,386-
親会社株主に帰属する当期純利益215,730178,759134,222-
前期比134.9%82.9%75.1%-
%5.7%4.6%3.8%-
 
EBITDA525,059473,291379,227-
EPS488.4円387.5円276.6円288.5円
BPS2,937.3円3,018.4円3,065.0円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)3,400,0003,800,0003,900,000-
対実績比110.5%101.9%89.4%-
営業利益(期初予)240,000340,000330,000-
対実績比155.9%95.4%65.2%-
純利益(期初予)145,000205,000200,000-
対実績比148.8%87.2%67.1%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価5,730円4,898円2,585円-
企業価値2,448,4572,185,8911,172,727-
時価総額2,528,2822,259,1251,254,342-
純有利子負債-112,509-134,280-81,615-
PER(会予)14.0倍10.3倍9.0倍-
PBR1.9倍1.6倍0.8倍-
PER × PBR27.1倍16.7倍7.6倍-
EV/EBITDA(会予)5.3倍4.4倍3.2倍-
PSR(会予)0.7倍0.6倍0.4倍-
PCFR(会予)7.4倍6.1倍4.1倍-
配当金74.0円74.0円85.0円74.0円
配当利回り0.8%1.5%3.3%-
配当性向15.2%19.1%30.7%-
自己資本配当率2.5%2.5%2.8%-
ROE16.6%12.8%9.0%-
純利益率(再掲)5.7%4.6%3.8%-
総資産回転率1.1回1.1回1.0回-
財務レバレッジ2.6倍2.4倍2.2倍-
実質ROE14.5%11.9%8.9%-
ROIC14.2%14.9%7.0%-
ROA6.5%5.3%4.0%-
β1.151.001.24-
βの決定係数(R2)0.510.390.44-
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690,418509,717485,808-
売上債権388,973445,700427,358-
棚卸資産352,915351,896355,491-
有価証券256,695189,046118,584-
前払金----
繰延税金資産122,092---
貸倒引当金-5,252-5,120-2,871-
流動資産1,818,9881,622,3171,539,722-
固定資産
建物・構築物160,990185,779186,544-
機械・運搬具199,051252,596241,974-
土地280,866299,977304,652-
建設仮勘定106,39389,585118,571-
有形固定資産804,265904,276920,144-
のれん237135--
無形固定資産2,5562,2881,604-
投資有価証券543,485635,184662,194-
繰延税金資産145,563198,422--
貸倒引当金-402-379-445-
敷金および保証金----
投資その他の資産715,017873,088878,312-
固定資産1,521,8391,779,6531,800,060-
総資産3,340,8283,401,9703,339,783-
 
負債
有利子負債合計577,909375,437404,193-
仕入債務443,916327,373257,996-
前受金----
未払法人税等40,59834,66122,310-
繰延税金負債(固定)2,1052,895--
負債1,745,6011,686,0551,546,126-
 
純資産
資本金138,064138,161138,202-
資本剰余金143,868143,965146,490-
利益剰余金1,247,2421,314,5871,414,665-
自己株式-189,126-113,963-21,775-
非支配株主持分297,564323,309305,990-
純資産1,595,2271,715,9141,793,657-
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384,033298,390246,027-
減価償却費150,877148,926164,158-
のれん償却額----
減損損失2,5851,514565-
受取利息及び受取配当金-35,633-54,894-28,776-
売上債権の増減額-41,940-60,0531,109-
棚卸資産の増減額-23,449-7,431-29,177-
仕入債務の増減額5,710-107,695-51,727-
営業CF445,171383,437171,533-
投資CF
有価証券の取得-729,488-849,455-770,961-
有価証券の売却・償還775,840730,247698,776-
固定資産の購入-205,854-251,507-245,825-
固定資産の売却000-
貸付け----
貸付金の回収----
投資CF-341,585-250,848-296,989-
財務CF
短期借入金の純増減額1,443-12536,358-
長期借入れ57,00078,77972,741-
長期借入金の返済-120,874-95,001-70,395-
社債の発行----
社債の償還-6,070---
自己株式の取得-6-7-4-
自己株式の売却----
配当金の支払-25,146-36,340-34,139-
財務CF-113,922-256,11080,708-
換算差額-2,848-4,228-7,956-
その他
2018.32019.32020.32021.3E
設備投資額213,376268,945236,450-
研究開発費-158,100148,100-
発行済株式総数441,737,425株461,333,010株485,332,465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65,179人67,721人68,499人-
売上/従業員(千円)57,64557,16850,927-
営利/従業員(千円)5,7414,7903,140-
四半期売上(百万円)
売上5y CAGR・予想:-1.4 %
四半期利益(百万円)
営利5y CAGR・予想:-12.0 %
純利5y CAGR・予想:-8.9 %
P/L
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
売上2,724,8843,757,219987,4691,929,4342,838,8343,871,496907,5341,755,4462,626,0703,488,433425,2621,270,2473,000,000
前期比121.0%118.5%113.6%105.4%104.2%103.0%91.9%91.0%92.5%90.1%46.9%72.4%86.0%
売上原価1,936,3082,651,473692,9201,353,6552,007,6012,738,958646,4291,251,5581,890,5932,514,779285,543898,129-
売上総利益788,5751,105,745294,549575,778831,2331,132,538261,105503,888735,476973,654139,719372,117-
%28.9%29.4%29.8%29.8%29.3%29.3%28.8%28.7%28.0%27.9%32.9%29.3%-
販管費528,732731,563178,084377,324574,688808,172198,449385,282565,043758,585138,420297,216-
営業利益259,843374,182116,464198,454256,544324,36562,656118,606170,433215,0691,29874,901160,000
前期比155.3%140.3%136.9%114.8%98.7%86.7%53.8%59.8%66.4%66.3%2.1%63.2%74.4%
%9.5%10.0%11.8%10.3%9.0%8.4%6.9%6.8%6.5%6.2%0.3%5.9%5.3%
受取利息および受取配当金26,82435,63212,73227,35443,01854,89411,19721,66626,00028,77518,20320,841-
持分法による投資利益--9791,7523,2015,0291,0462,8984,3786,315152,523-
営業外収益36,72047,70919,57941,08261,80579,40615,12229,32936,79451,02119,79928,544-
支払利息2,8628,1528712,0463,1674,2411,4722,4243,7055,5551,3032,333-
持分法による投資損失16613,870-----------
営業外費用11,97739,1042,9487,23212,24824,2415,3798,44812,46420,6756,6277,276-
経常利益284,586382,787133,096232,304306,102379,53072,400139,487194,764245,41414,47096,169180,000
固定資産売却益2,2902,7978731,3491,5001,7632185167521,50173335-
投資有価証券売却益1,2811,281-83921586610170-0-
特別利益3,5724,0798731,4331,5931,9222245237631,67273335-
固定資産売却損13624728109142210181091622791039-
投資有価証券売却損-------------
減損損失2,5162,585-6096091,514-565565565-897-
特別損失2,6522,8332871875183,062186747271,06015,40916,355-
税引前利益285,506384,033133,940233,018306,943298,39072,606139,335194,799246,027-86580,150-
法人税等73,911108,59329,69962,12078,66861,50223,23444,47854,91783,418-31423,732-
%25.9%28.3%22.2%26.7%25.6%20.6%32.0%31.9%28.2%33.9%36.3%29.6%-
当期純利益211,594275,439104,241170,898228,274236,88749,37194,857139,881162,608-55056,417-
非支配株主に帰属する当期純利益47,27159,70918,32834,71447,49358,1288,85915,55423,31728,386-2,3142,090-
親会社株主に帰属する当期純利益164,322215,73085,912136,183180,781178,75940,51179,303116,564134,2221,76454,326110,000
前期比123.2%134.9%131.3%130.7%110.0%82.9%47.2%58.2%64.5%75.1%4.4%68.5%82.0%
%6.0%5.7%8.7%7.1%6.4%4.6%4.5%4.5%4.4%3.8%0.4%4.3%3.7%
 
EBITDA374,283525,059149,150262,609362,817473,291101,723197,003289,252379,22731,561135,602-
EPS488.9円488.4円404.7円388.1円387.6円387.5円291.0円290.9円276.6円276.6円276.6円276.5円0.0円
BPS2,970.5円2,937.3円3,027.1円2,998.3円3,004.4円3,018.4円3,019.3円3,071.5円3,209.3円3,065.0円3,055.3円3,176.7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)3,400,0003,400,0003,800,0003,800,0003,800,0003,800,0003,900,0003,900,0003,900,0003,900,000--3,000,000
対実績比80.1%110.5%26.0%50.8%74.7%101.9%23.3%45.0%67.3%89.4%---
営業利益(期初予)240,000240,000340,000340,000340,000340,000330,000330,000330,000330,000--160,000
対実績比108.3%155.9%34.3%58.4%75.5%95.4%19.0%35.9%51.6%65.2%---
純利益(期初予)145,000145,000205,000205,000205,000205,000200,000200,000200,000200,000--110,000
対実績比113.3%148.8%41.9%66.4%88.2%87.2%20.3%39.7%58.3%67.1%---
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6,534円5,730円6,118円6,508円5,567円4,898円5,064円4,587円4,567円2,585円3,657円4,483円-
企業価値2,764,5872,448,4572,590,0412,774,1402,411,5632,185,8912,201,9101,984,1211,974,8941,172,7271,771,1802,050,989-
時価総額2,883,0342,528,2822,702,5502,874,8802,563,8672,259,1252,336,1902,116,1452,106,9181,254,3421,774,8612,175,881-
純有利子負債-79,825-112,509-100,740-152,304-73,234-134,280-143,265-132,024-204,201-81,615-3,681-124,892-
PER(会予)16.0倍14.0倍13.2倍14.0倍11.7倍10.3倍11.7倍10.6倍15.0倍9.0倍---
PBR2.3倍1.9倍2.1倍2.1倍1.9倍1.6倍1.7倍1.5倍1.5倍0.8倍1.2倍1.4倍-
PER × PBR37.1倍27.1倍27.5倍30.1倍21.6倍16.7倍19.6倍15.8倍22.4倍7.6倍---
EV/EBITDA(会予)6.0倍5.3倍5.3倍5.7倍4.8倍4.4倍4.6倍4.1倍5.7倍3.2倍---
PSR(会予)0.8倍0.7倍0.7倍0.8倍0.7倍0.6倍0.6倍0.5倍0.6倍0.4倍---
PCFR(会予)8.4倍7.4倍7.6倍8.1倍6.9倍6.1倍6.7倍6.1倍7.3倍4.1倍10.8倍13.3倍-
配当金-74.0円---74.0円---85.0円--0.0円
配当利回り0.7%0.8%1.2%1.1%1.3%1.5%1.5%1.6%1.6%3.3%2.3%1.9%-
配当性向-15.2%---19.1%---30.7%---
自己資本配当率2.5%2.5%2.4%2.5%2.5%2.5%2.8%2.8%2.6%2.8%2.8%2.7%-
ROE16.5%16.6%13.4%12.9%12.9%12.8%9.6%9.5%8.6%9.0%9.1%8.7%-
純利益率(再掲)6.0%5.7%8.7%7.1%6.4%4.6%4.5%4.5%4.4%3.8%0.4%4.3%-
総資産回転率1.1回1.1回1.2回1.2回1.2回1.1回1.0回1.1回1.0回1.0回1.0回0.9回-
財務レバレッジ2.6倍2.6倍2.5倍2.3倍2.3倍2.4倍2.4倍2.3倍2.2倍2.2倍2.4倍2.4倍-
実質ROE14.4%14.5%11.7%11.9%11.9%11.9%8.9%8.8%8.5%8.9%8.9%8.6%-
ROIC13.5%14.2%13.7%14.9%14.7%14.9%7.4%7.4%6.8%7.0%5.7%5.6%-
ROA6.4%6.5%5.3%5.5%5.5%5.3%4.0%4.1%3.9%4.0%3.7%3.6%-
β1.101.151.120.970.991.000.920.950.961.241.291.33-
βの決定係数(R2)0.450.510.470.360.410.390.370.360.340.440.460.45-
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735,926690,418686,645533,831480,031509,717520,283504,357591,288485,808825,312917,707-
売上債権354,518388,973376,596387,929388,456445,700420,517422,390397,434427,358388,435417,928-
棚卸資産360,662352,915332,342361,807389,818351,896346,583336,012357,100355,491345,347328,562-
有価証券296,474256,695235,961206,432176,654189,046117,337119,427104,934118,584105,706111,591-
前払金-------------
繰延税金資産-122,092-----------
貸倒引当金-5,013-5,252-4,735-4,689-4,341-5,120-2,917-2,728-2,789-2,871-3,442-2,915-
流動資産2,007,0021,818,9881,759,8841,623,5231,558,8601,622,3171,530,6941,512,9951,590,0351,539,7221,820,7781,903,099-
固定資産
建物・構築物-160,990---185,779---186,544---
機械・運搬具-199,051---252,596---241,974---
土地-280,866---299,977---304,652---
建設仮勘定-106,393---89,585---118,571---
有形固定資産774,153804,265836,341852,541865,555904,276913,041914,110933,590920,144920,926939,726-
のれん-237---135-------
無形固定資産3,1732,5562,4452,3302,2062,2882,0511,7161,8581,6041,8851,640-
投資有価証券501,589543,485570,116570,172606,672635,184649,078617,459680,395662,194637,062699,339-
繰延税金資産-145,563---198,422-------
貸倒引当金-404-402-401-405-373-379-392-408-405-445-386-393-
敷金および保証金-------------
投資その他の資産565,354715,017745,195744,358794,905873,088882,250849,754917,963878,312851,062911,114-
固定資産1,342,6811,521,8391,583,9821,599,2311,662,6681,779,6531,797,3431,765,5821,853,4111,800,0601,773,8741,852,481-
総資産3,349,6833,340,8283,343,8663,222,7543,221,5283,401,9703,328,0373,278,5783,443,4473,339,7833,594,6523,755,581-
 
負債
有利子負債合計656,101577,909585,905381,527406,797375,437377,018372,333387,087404,193821,631792,815-
仕入債務403,641443,916393,677420,655365,303327,373275,423271,333272,726257,996175,883288,078-
前受金-------------
未払法人税等29,20140,59837,85554,66329,55234,66127,25036,32135,96022,31017,49128,460-
繰延税金負債(固定)-2,105---2,895-------
負債1,732,1201,745,6011,698,4201,547,0261,528,9251,686,0551,611,7521,556,3471,567,7861,546,1261,807,8911,912,542-
 
純資産
資本金138,064138,064138,064138,161138,161138,161138,161138,202138,202138,202138,202138,262-
資本剰余金143,868143,868143,868143,965143,965143,965143,965144,006147,901146,490146,490144,133-
利益剰余金1,197,7441,247,2421,313,6831,292,0691,316,9871,314,5871,337,2231,376,8191,397,0071,414,6651,393,1291,445,692-
自己株式-191,052-189,126-189,096-116,980-114,343-113,963-113,972-113,973-21,773-21,775-21,775-21,775-
非支配株主持分306,751297,564308,103294,756306,751323,309323,331305,116317,963305,990303,826301,095-
純資産1,617,5631,595,2271,645,4461,675,7281,692,6031,715,9141,716,2851,722,2311,875,6601,793,6571,786,7601,843,039-
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285,506384,033133,940233,018306,943298,39072,606139,335194,799246,027-86580,150-
減価償却費114,440150,87732,68664,155106,273148,92639,06778,397118,819164,15830,26360,701-
のれん償却額-------------
減損損失2,5162,585-6096091,514-565565565-897-
受取利息及び受取配当金-26,824-35,633-12,732-27,354-43,018-54,894-11,197-21,666-26,001-28,776-18,203-20,842-
売上債権の増減額1,739-41,9409,646-1,128-3,429-60,05321,07715,48946,1781,10945,87414,693-
棚卸資産の増減額-16,577-23,44916,773-9,856-46,435-7,431-3,2442,291-10,710-29,17715,13032,118-
仕入債務の増減額-42,9555,710-45,696-17,229-66,458-107,695-46,720-57,981-48,269-51,727-104,34723,978-
営業CF261,225445,171106,070224,110240,093383,43755,389106,672178,747171,533-76,011163,353-
投資CF
有価証券の取得-587,877-729,488-144,800-324,338-574,243-849,455-217,313-400,548-563,148-770,961-101,214-169,912-
有価証券の売却・償還597,974775,840113,790265,428503,066730,247251,797421,843599,263698,776105,325173,946-
固定資産の購入-132,315-205,854-66,327-130,568-187,821-251,507-67,226-128,663-190,899-245,825-35,651-85,257-
固定資産の売却000000000000-
貸付け-------------
貸付金の回収-------------
投資CF-191,312-341,585-113,214-160,256-207,962-250,848-75,479-99,088-186,348-296,98916,533-84,065-
財務CF
短期借入金の純増減額6,7071,443-482-7,46912,289-125-2,046-11,303-41736,358195,371171,528-
長期借入れ44,50057,00018,16434,19667,90778,77918,70435,01355,45172,741246,042253,142-
長期借入金の返済-35,880-120,874-12,213-54,801-67,732-95,001-13,383-27,537-45,297-70,395-15,016-33,409-
社債の発行-------------
社債の償還-10-6,070-100----------
自己株式の取得-4-6-1-3-6-70-1-2-4---
自己株式の売却--------96,096----
配当金の支払-25,152-25,146-19,442-19,431-36,478-36,340-17,075-17,068-34,144-34,139-23,304-23,295-
財務CF-31,232-113,922-14,316-242,512-225,743-256,110-14,002-41,00951,57180,708403,091356,661-
換算差額5,103-2,848-8541,364-3,224-4,228-3,884-7,7041,811-7,9563,2163,905-
その他
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
設備投資額132,315213,37666,327130,568187,821268,94567,226128,663190,899236,45035,65185,257-
研究開発費-----158,100---148,100---
発行済株式総数441,235,940株441,737,425株441,745,578株460,547,418株461,234,086株461,333,010株461,316,806株461,335,301株485,332,785株485,332,465株485,332,455株485,362,805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-65,179人---67,721人---68,499人---
売上/従業員(千円)-57,645---57,168---50,927---
営利/従業員(千円)-5,741---4,790---3,140---
四半期売上(百万円)
売上5y CAGR・予想:-1.4 %
四半期利益(百万円)
営利5y CAGR・予想:-12.0 %
純利5y CAGR・予想:-8.9 %
P/L
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
売上893,7871,032,335987,469941,965909,4001,032,662907,534847,912870,624862,363425,262844,9853,000,000
前期比118.7%112.5%113.6%97.9%101.7%100.0%91.9%90.0%95.7%83.5%46.9%99.7%86.0%
売上原価633,178715,165692,920660,735653,946731,357646,429605,129639,035624,186285,543612,586-
売上総利益260,609317,170294,549281,229255,455301,305261,105242,783231,588238,178139,719232,398-
%29.2%30.7%29.8%29.9%28.1%29.2%28.8%28.6%26.6%27.6%32.9%27.5%-
販管費173,647202,831178,084199,240197,364233,484198,449186,833179,761193,542138,420158,796-
営業利益86,962114,339116,46481,99058,09067,82162,65655,95051,82744,6361,29873,603160,000
前期比167.7%115.1%136.9%93.4%66.8%59.3%53.8%68.2%89.2%65.8%2.1%131.6%74.4%
%9.7%11.1%11.8%8.7%6.4%6.6%6.9%6.6%6.0%5.2%0.3%8.7%5.3%
受取利息および受取配当金0012,73200011,19700018,2030-
持分法による投資利益009797731,4491,8281,0461,8521,4801,937152,508-
営業外収益12,47310,98919,57921,50320,72317,60115,12214,2077,46514,22719,7998,745-
支払利息9725,2908711,1751,1211,0741,4729521,2811,8501,3031,030-
持分法による投資損失-1,68813,704-000-000-0-
営業外費用1,72827,1272,9484,2845,01611,9935,3793,0694,0168,2116,627649-
経常利益97,70798,201133,09699,20873,79873,42872,40067,08755,27750,65014,47081,699180,000
固定資産売却益96150787347615126321829823674973262-
投資有価証券売却益00-83966604160-0-
特別利益96250787356016032922429924090973262-
固定資産売却損44111288133681891531171029-
投資有価証券売却損00-000-000-0-
減損損失069-6090905-56500-897-
特別損失44181286903382,311186565333315,409946-
税引前利益98,62598,527133,94099,07873,925-8,55372,60666,72955,46451,228-86581,015-
法人税等21,33534,68229,69932,42116,548-17,16623,23421,24410,43928,501-31424,046-
%21.6%35.2%22.2%32.7%22.4%200.7%32.0%31.8%18.8%55.6%36.3%29.7%-
当期純利益77,28963,845104,24166,65757,3768,61349,37145,48645,02422,727-55056,967-
非支配株主に帰属する当期純利益17,17412,43818,32816,38612,77910,6358,8596,6957,7635,069-2,3144,404-
親会社株主に帰属する当期純利益60,11451,40885,91250,27144,598-2,02240,51138,79237,26117,6581,76452,562110,000
前期比179.8%193.3%131.3%129.6%74.2%-3.9%47.2%77.2%83.5%-873.3%4.4%135.5%82.0%
%6.7%5.0%8.7%5.3%4.9%-0.2%4.5%4.6%4.3%2.0%0.4%6.2%3.7%
 
EBITDA374,283525,059149,150262,609362,817473,291101,723197,003289,252379,22731,561135,602-
EPS488.9円488.4円404.7円388.1円387.6円387.5円291.0円290.9円276.6円276.6円276.6円276.5円0.0円
BPS2,970.5円2,937.3円3,027.1円2,998.3円3,004.4円3,018.4円3,019.3円3,071.5円3,209.3円3,065.0円3,055.3円3,176.7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)3,400,0003,400,0003,800,0003,800,0003,800,0003,800,0003,900,0003,900,0003,900,0003,900,000--3,000,000
対実績比80.1%110.5%26.0%50.8%74.7%101.9%23.3%45.0%67.3%89.4%---
営業利益(期初予)240,000240,000340,000340,000340,000340,000330,000330,000330,000330,000--160,000
対実績比108.3%155.9%34.3%58.4%75.5%95.4%19.0%35.9%51.6%65.2%---
純利益(期初予)145,000145,000205,000205,000205,000205,000200,000200,000200,000200,000--110,000
対実績比113.3%148.8%41.9%66.4%88.2%87.2%20.3%39.7%58.3%67.1%---
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6,534円5,730円6,118円6,508円5,567円4,898円5,064円4,587円4,567円2,585円3,657円4,483円-
企業価値2,764,5872,448,4572,590,0412,774,1402,411,5632,185,8912,201,9101,984,1211,974,8941,172,7271,771,1802,050,989-
時価総額2,883,0342,528,2822,702,5502,874,8802,563,8672,259,1252,336,1902,116,1452,106,9181,254,3421,774,8612,175,881-
純有利子負債-79,825-112,509-100,740-152,304-73,234-134,280-143,265-132,024-204,201-81,615-3,681-124,892-
PER(会予)16.0倍14.0倍13.2倍14.0倍11.7倍10.3倍11.7倍10.6倍15.0倍9.0倍---
PBR2.3倍1.9倍2.1倍2.1倍1.9倍1.6倍1.7倍1.5倍1.5倍0.8倍1.2倍1.4倍-
PER × PBR37.1倍27.1倍27.5倍30.1倍21.6倍16.7倍19.6倍15.8倍22.4倍7.6倍---
EV/EBITDA(会予)6.0倍5.3倍5.3倍5.7倍4.8倍4.4倍4.6倍4.1倍5.7倍3.2倍---
PSR(会予)0.8倍0.7倍0.7倍0.8倍0.7倍0.6倍0.6倍0.5倍0.6倍0.4倍---
PCFR(会予)8.4倍7.4倍7.6倍8.1倍6.9倍6.1倍6.7倍6.1倍7.3倍4.1倍10.8倍13.3倍-
配当金-74.0円---74.0円---85.0円--0.0円
配当利回り0.7%0.8%1.2%1.1%1.3%1.5%1.5%1.6%1.6%3.3%2.3%1.9%-
配当性向-15.2%---19.1%---30.7%---
自己資本配当率2.5%2.5%2.4%2.5%2.5%2.5%2.8%2.8%2.6%2.8%2.8%2.7%-
ROE16.5%16.6%13.4%12.9%12.9%12.8%9.6%9.5%8.6%9.0%9.1%8.7%-
純利益率(再掲)6.0%5.7%8.7%7.1%6.4%4.6%4.5%4.5%4.4%3.8%0.4%4.3%-
総資産回転率1.1回1.1回1.2回1.2回1.2回1.1回1.0回1.1回1.0回1.0回1.0回0.9回-
財務レバレッジ2.6倍2.6倍2.5倍2.3倍2.3倍2.4倍2.4倍2.3倍2.2倍2.2倍2.4倍2.4倍-
実質ROE14.4%14.5%11.7%11.9%11.9%11.9%8.9%8.8%8.5%8.9%8.9%8.6%-
ROIC13.5%14.2%13.7%14.9%14.7%14.9%7.4%7.4%6.8%7.0%5.7%5.6%-
ROA6.4%6.5%5.3%5.5%5.5%5.3%4.0%4.1%3.9%4.0%3.7%3.6%-
β1.101.151.120.970.991.000.920.950.961.241.291.33-
βの決定係数(R2)0.450.510.470.360.410.390.370.360.340.440.460.45-
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735,926690,418686,645533,831480,031509,717520,283504,357591,288485,808825,312917,707-
売上債権354,518388,973376,596387,929388,456445,700420,517422,390397,434427,358388,435417,928-
棚卸資産360,662352,915332,342361,807389,818351,896346,583336,012357,100355,491345,347328,562-
有価証券296,474256,695235,961206,432176,654189,046117,337119,427104,934118,584105,706111,591-
前払金-------------
繰延税金資産-122,092-----------
貸倒引当金-5,013-5,252-4,735-4,689-4,341-5,120-2,917-2,728-2,789-2,871-3,442-2,915-
流動資産2,007,0021,818,9881,759,8841,623,5231,558,8601,622,3171,530,6941,512,9951,590,0351,539,7221,820,7781,903,099-
固定資産
建物・構築物-160,990---185,779---186,544---
機械・運搬具-199,051---252,596---241,974---
土地-280,866---299,977---304,652---
建設仮勘定-106,393---89,585---118,571---
有形固定資産774,153804,265836,341852,541865,555904,276913,041914,110933,590920,144920,926939,726-
のれん-237---135-------
無形固定資産3,1732,5562,4452,3302,2062,2882,0511,7161,8581,6041,8851,640-
投資有価証券501,589543,485570,116570,172606,672635,184649,078617,459680,395662,194637,062699,339-
繰延税金資産-145,563---198,422-------
貸倒引当金-404-402-401-405-373-379-392-408-405-445-386-393-
敷金および保証金-------------
投資その他の資産565,354715,017745,195744,358794,905873,088882,250849,754917,963878,312851,062911,114-
固定資産1,342,6811,521,8391,583,9821,599,2311,662,6681,779,6531,797,3431,765,5821,853,4111,800,0601,773,8741,852,481-
総資産3,349,6833,340,8283,343,8663,222,7543,221,5283,401,9703,328,0373,278,5783,443,4473,339,7833,594,6523,755,581-
 
負債
有利子負債合計656,101577,909585,905381,527406,797375,437377,018372,333387,087404,193821,631792,815-
仕入債務403,641443,916393,677420,655365,303327,373275,423271,333272,726257,996175,883288,078-
前受金-------------
未払法人税等29,20140,59837,85554,66329,55234,66127,25036,32135,96022,31017,49128,460-
繰延税金負債(固定)-2,105---2,895-------
負債1,732,1201,745,6011,698,4201,547,0261,528,9251,686,0551,611,7521,556,3471,567,7861,546,1261,807,8911,912,542-
 
純資産
資本金138,064138,064138,064138,161138,161138,161138,161138,202138,202138,202138,202138,262-
資本剰余金143,868143,868143,868143,965143,965143,965143,965144,006147,901146,490146,490144,133-
利益剰余金1,197,7441,247,2421,313,6831,292,0691,316,9871,314,5871,337,2231,376,8191,397,0071,414,6651,393,1291,445,692-
自己株式-191,052-189,126-189,096-116,980-114,343-113,963-113,972-113,973-21,773-21,775-21,775-21,775-
非支配株主持分306,751297,564308,103294,756306,751323,309323,331305,116317,963305,990303,826301,095-
純資産1,617,5631,595,2271,645,4461,675,7281,692,6031,715,9141,716,2851,722,2311,875,6601,793,6571,786,7601,843,039-
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285,506384,033133,940233,018306,943298,39072,606139,335194,799246,027-86580,150-
減価償却費114,440150,87732,68664,155106,273148,92639,06778,397118,819164,15830,26360,701-
のれん償却額-------------
減損損失069-6090905-56500-897-
受取利息及び受取配当金-26,824-35,633-12,732-27,354-43,018-54,894-11,197-21,666-26,001-28,776-18,203-20,842-
売上債権の増減額1,739-41,9409,646-1,128-3,429-60,05321,07715,48946,1781,10945,87414,693-
棚卸資産の増減額-16,577-23,44916,773-9,856-46,435-7,431-3,2442,291-10,710-29,17715,13032,118-
仕入債務の増減額-42,9555,710-45,696-17,229-66,458-107,695-46,720-57,981-48,269-51,727-104,34723,978-
営業CF261,225445,171106,070224,110240,093383,43755,389106,672178,747171,533-76,011163,353-
投資CF
有価証券の取得-587,877-729,488-144,800-324,338-574,243-849,455-217,313-400,548-563,148-770,961-101,214-169,912-
有価証券の売却・償還597,974775,840113,790265,428503,066730,247251,797421,843599,263698,776105,325173,946-
固定資産の購入-132,315-205,854-66,327-130,568-187,821-251,507-67,226-128,663-190,899-245,825-35,651-85,257-
固定資産の売却000000000000-
貸付け-------------
貸付金の回収-------------
投資CF-191,312-341,585-113,214-160,256-207,962-250,848-75,479-99,088-186,348-296,98916,533-84,065-
財務CF
短期借入金の純増減額6,7071,443-482-7,46912,289-125-2,046-11,303-41736,358195,371171,528-
長期借入れ44,50057,00018,16434,19667,90778,77918,70435,01355,45172,741246,042253,142-
長期借入金の返済-35,880-120,874-12,213-54,801-67,732-95,001-13,383-27,537-45,297-70,395-15,016-33,409-
社債の発行-------------
社債の償還-10-6,070-100----------
自己株式の取得-4-6-1-3-6-70-1-2-4---
自己株式の売却--------96,096----
配当金の支払-25,152-25,146-19,442-19,431-36,478-36,340-17,075-17,068-34,144-34,139-23,304-23,295-
財務CF-31,232-113,922-14,316-242,512-225,743-256,110-14,002-41,00951,57180,708403,091356,661-
換算差額5,103-2,848-8541,364-3,224-4,228-3,884-7,7041,811-7,9563,2163,905-
その他
17.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q220.Q4E
設備投資額132,315213,37666,327130,568187,821268,94567,226128,663190,899236,45035,65185,257-
研究開発費-----158,100---148,100---
発行済株式総数441,235,940株441,737,425株441,745,578株460,547,418株461,234,086株461,333,010株461,316,806株461,335,301株485,332,785株485,332,465株485,332,455株485,362,805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-65,179人---67,721人---68,499人---
売上/従業員(千円)-57,645---57,168---50,927---
営利/従業員(千円)-5,741---4,790---3,140---