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:-33.6 %
純利5y CAGR・予想:-32.1 %
P/L
2018.32019.32020.32021.3E
売上3,232,6953,156,1503,344,109-
前期比97.2%97.6%106.0%-
売上原価2,442,7062,558,2622,728,605-
売上総利益789,989597,888615,504-
%24.4%18.9%18.4%-
販管費410,542298,875308,227-
営業利益379,447181,724210,319-
前期比92.4%47.9%115.7%-
%11.7%5.8%6.3%-
受取利息および受取配当金8,18613,594--
持分法による投資利益778377-223-
営業外収益14,30117,580--
支払利息1,379732--
持分法による投資損失----
営業外費用13,81416,870--
経常利益379,934186,026207,656-
固定資産売却益5631,274--
投資有価証券売却益4,6183,659--
特別利益5,9406,953--
固定資産売却損----
投資有価証券売却損----
減損損失31---
特別損失88,5347,354--
税引前利益297,340186,026207,656-
法人税等75,60145,23755,065-
%25.4%24.3%26.5%-
当期純利益221,739140,789152,591-
非支配株主に帰属する当期純利益1,385-6294-
親会社株主に帰属する当期純利益220,354141,418152,587-
前期比78.0%64.2%107.9%-
%6.8%4.5%4.6%-
 
EBITDA481,549368,801612,836-
EPS287.4円184.4円199.0円212.6円
BPS2,025.3円2,194.0円2,233.8円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)3,420,0003,250,0003,310,000-
対実績比94.5%97.1%101.0%-
営業利益(期初予)410,000300,000260,000-
対実績比92.5%60.6%80.9%-
純利益(期初予)285,000220,000210,000-
対実績比77.3%64.3%72.7%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価3,487円2,523円2,074円-
企業価値2,051,5051,219,863970,236-
時価総額2,673,5581,934,1551,589,992-
純有利子負債-679,195-591,010-619,756-
PER(会予)12.9倍13.8倍9.8倍-
PBR1.8倍1.2倍0.9倍-
PER × PBR22.8倍17.0倍9.1倍-
EV/EBITDA(会予)4.4倍4.2倍1.6倍-
PSR(会予)0.8倍0.6倍0.5倍-
PCFR(会予)9.1倍8.0倍2.8倍-
配当金144.0円144.0円100.0円144.0円
配当利回り4.1%5.7%4.8%-
配当性向50.1%78.1%50.3%-
自己資本配当率7.1%6.6%4.5%-
ROE14.2%8.4%8.9%-
純利益率(再掲)6.8%4.5%4.6%-
総資産回転率1.1回1.0回1.0回-
財務レバレッジ1.8倍1.9倍1.9倍-
実質ROE14.1%8.4%8.9%-
ROIC18.5%7.6%8.0%-
ROA7.7%4.4%4.6%-
β1.241.171.09-
βの決定係数(R2)0.400.410.43-
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765,397702,328858,966-
売上債権155,247344,237364,839-
棚卸資産297,190403,473459,940-
有価証券242,573394,406204,373-
前払金----
繰延税金資産124,766---
貸倒引当金-340-347--
流動資産1,770,4441,913,7341,978,765-
固定資産
建物・構築物207,133218,664--
機械・運搬具169,814193,624--
土地184,339187,052--
建設仮勘定55,90831,334--
有形固定資産703,108808,710820,491-
のれん-155,510209,775-
無形固定資産28,29333,754--
投資有価証券113,465122,453--
繰延税金資産139,171127,523118,487-
貸倒引当金-3,362-3,246--
敷金および保証金----
投資その他の資産364,629405,358--
固定資産1,096,0301,266,8631,315,143-
総資産2,866,4743,180,5973,293,908-
 
負債
有利子負債合計86,202111,318239,210-
仕入債務320,137404,395336,223-
前受金----
未払法人税等45,3724,3312,642-
繰延税金負債(固定)2,4664,58811,714-
負債1,305,4511,490,6981,573,785-
 
純資産
資本金153,795153,795153,795-
資本剰余金160,197160,192160,178-
利益剰余金1,283,5391,350,6391,397,239-
自己株式-7,054-6,910-6,722-
非支配株主持分8,1797,6517,242-
純資産1,561,0231,689,8991,720,123-
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297,340186,026207,656-
減価償却費102,102187,077192,742-
のれん償却額--209,775-
減損損失31---
受取利息及び受取配当金-8,186-13,701-15,844-
売上債権の増減額40-268-23,916-
棚卸資産の増減額-15,922-71,373-70,173-
仕入債務の増減額-54,159-11,197-67,939-
営業CF366,298250,732210,134-
投資CF
有価証券の取得-196,063-185,5500-
有価証券の売却・償還34,27236,5490-
固定資産の購入-149,897-274,785-131,690-
固定資産の売却3,4135,4690-
貸付け----
貸付金の回収----
投資CF-150,711-190,119-25,844-
財務CF
短期借入金の純増減額-18,393-17,482-2,400-
長期借入れ3,50075,300106,000-
長期借入金の返済-44,443-43,382-7,592-
社債の発行--40,000-
社債の償還----
自己株式の取得-11-5--
自己株式の売却----
配当金の支払-110,326-110,384--
財務CF-170,937-141,551-15,818-
換算差額-10,83117,675-11,834-
その他
2018.32019.32020.32021.3E
設備投資額193,789113,479126,002-
研究開発費-102,719--
発行済株式総数766,720,834株766,761,032株766,815,505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33,544人34,200人35,034人-
売上/従業員(千円)96,37292,28595,453-
営利/従業員(千円)11,3125,3146,003-
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:-33.6 %
純利5y CAGR・予想:-32.1 %
P/L
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上1,608,0132,437,7493,232,695718,3811,491,4372,391,3443,156,150833,4231,605,6732,484,5643,344,109456,9982,900,000
前期比101.9%100.4%97.2%88.3%92.8%98.1%97.6%116.0%107.7%103.9%106.0%54.8%86.7%
売上原価1,192,0831,825,9242,442,706555,2371,229,3191,926,3972,558,262649,0841,318,1212,037,0342,728,605378,483-
売上総利益415,930611,825789,989163,144262,118464,947597,888184,339287,552447,530615,50478,515-
%25.9%25.1%24.4%22.7%17.6%19.4%18.9%22.1%17.9%18.0%18.4%17.2%-
販管費203,805305,520410,54271,818147,101223,011298,87573,198146,348225,213308,22760,440-
営業利益212,125306,305379,44762,14756,425155,666181,72492,21294,847152,658210,319-15,67180,000
前期比101.7%99.9%92.4%52.1%26.6%50.8%47.9%148.4%168.1%98.1%115.7%-17.0%38.0%
%13.2%12.6%11.7%8.7%3.8%6.5%5.8%11.1%5.9%6.1%6.3%-2.8%
受取利息および受取配当金3,2145,3148,1862,5875,9629,60213,594------
持分法による投資利益39935778-59-17814237744818-444-223-103-
営業外収益10,8849,52414,30114,39518,77713,07317,580------
支払利息7911,0931,379224386544732------
持分法による投資損失---59178--------
営業外費用10,28312,71313,81411,87413,8079,70016,870------
経常利益212,726303,116379,93463,37860,460157,751186,02689,34993,104153,225207,656-10,735-
固定資産売却益1553435637551,0481,1501,274------
投資有価証券売却益6307264,6182,1153,5713,5973,659------
特別利益8021,2725,9403,2386,3146,4966,953------
固定資産売却損-------------
投資有価証券売却損-------------
減損損失--31----------
特別損失85,04486,74588,5341,7733,3275,5217,354------
税引前利益128,484217,643297,34063,37860,460157,751186,02689,34993,104153,225207,656-10,735-
法人税等43,04364,12575,60116,67318,01540,72245,23722,77624,97541,82155,065-3,181-
%33.5%29.5%25.4%26.3%29.8%25.8%24.3%25.5%26.8%27.3%26.5%29.6%-
当期純利益85,441153,518221,73946,70542,445117,029140,78966,57368,129111,404152,591-7,554-
非支配株主に帰属する当期純利益4366751,385-723-651-1,084-629117-156-2954146-
親会社株主に帰属する当期純利益85,005152,843220,35447,42843,096118,113141,41866,45668,285111,699152,587-7,70060,000
前期比51.9%73.7%78.0%57.6%50.7%77.3%64.2%140.1%158.4%94.6%107.9%-11.6%39.3%
%5.3%6.3%6.8%6.6%2.9%4.9%4.5%8.0%4.3%4.5%4.6%-2.1%
 
EBITDA260,680381,151481,549103,493146,912296,015368,801300,359360,775475,575612,836--
EPS287.4円287.4円287.4円184.4円184.4円184.4円184.4円199.0円199.0円199.0円199.0円199.0円212.6円
BPS1,953.8円1,973.5円2,025.3円2,031.1円2,046.9円2,051.7円2,194.0円2,190.9円2,194.3円2,193.5円2,233.8円2,191.9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)3,420,0003,420,0003,420,0003,250,0003,250,0003,250,0003,250,0003,310,0003,310,0003,310,0003,310,000-2,900,000
対実績比47.0%71.3%94.5%22.1%45.9%73.6%97.1%25.2%48.5%75.1%101.0%--
営業利益(期初予)410,000410,000410,000300,000300,000300,000300,000260,000260,000260,000260,000-80,000
対実績比51.7%74.7%92.5%20.7%18.8%51.9%60.6%35.5%36.5%58.7%80.9%--
純利益(期初予)285,000285,000285,000220,000220,000220,000220,000210,000210,000210,000210,000-60,000
対実績比29.8%53.6%77.3%21.6%19.6%53.7%64.3%31.6%32.5%53.2%72.7%--
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4,060円3,583円3,487円3,225円3,480円2,360円2,523円2,619円3,040円2,714円2,074円2,242円-
企業価値2,491,3532,111,6702,051,5051,793,4801,923,9041,074,1331,219,8631,417,1371,722,4561,472,090970,2361,246,208-
時価総額3,112,7432,747,1672,673,5582,472,6752,668,1831,809,5581,934,1552,008,1472,331,1232,080,7571,589,9921,718,816-
純有利子負債-635,497-622,053-679,195-744,279-735,425-714,292-591,010-626,842-608,667-580,559-619,756-472,608-
PER(会予)13.6倍13.3倍12.9倍11.2倍12.1倍10.8倍13.8倍9.6倍11.1倍12.8倍9.8倍10.5倍-
PBR2.1倍1.8倍1.8倍1.6倍1.7倍1.2倍1.2倍1.2倍1.4倍1.2倍0.9倍1.0倍-
PER × PBR28.5倍24.3倍22.8倍17.9倍20.8倍12.5倍17.0倍11.4倍15.4倍15.8倍9.1倍10.8倍-
EV/EBITDA(会予)5.0倍4.5倍4.4倍4.5倍4.8倍3.3倍4.2倍3.2倍3.9倍3.6倍1.6倍2.0倍-
PSR(会予)0.9倍0.8倍0.8倍0.8倍0.8倍0.6倍0.6倍0.6倍0.7倍0.6倍0.5倍0.5倍-
PCFR(会予)9.9倍9.4倍9.1倍7.7倍8.3倍6.7倍8.0倍5.1倍5.9倍5.9倍2.8倍3.0倍-
配当金--144.0円---144.0円---100.0円-100.0円
配当利回り3.5%4.0%4.1%4.5%4.1%6.1%5.7%5.5%4.7%5.3%4.8%4.5%-
配当性向--50.1%---78.1%---50.3%--
自己資本配当率7.4%7.3%7.1%7.1%7.0%7.0%6.6%4.6%4.6%4.6%4.5%4.6%-
ROE14.7%14.6%14.2%9.1%9.0%9.0%8.4%9.1%9.1%9.1%8.9%9.1%-
純利益率(再掲)5.3%6.3%6.8%6.6%2.9%4.9%4.5%8.0%4.3%4.5%4.6%--
総資産回転率1.1回1.2回1.1回1.1回1.1回1.1回1.0回1.1回1.1回1.1回1.0回1.0回-
財務レバレッジ1.9倍1.8倍1.8倍1.8倍1.9倍1.8倍1.9倍1.9倍1.9倍1.9倍1.9倍1.9倍-
実質ROE14.6%14.5%14.1%9.0%9.0%9.0%8.4%9.0%9.0%9.0%8.9%9.0%-
ROIC19.0%18.9%18.5%8.5%8.4%8.4%7.6%8.7%8.5%8.4%8.0%7.3%-
ROA7.8%7.9%7.7%4.9%4.8%4.9%4.4%4.8%4.9%4.8%4.6%4.7%-
β1.521.311.241.241.181.101.171.151.061.011.091.06-
βの決定係数(R2)0.510.420.400.440.420.400.410.410.370.350.430.44-
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
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
流動資産
現金733,064713,922765,397800,943785,214766,327702,328733,853741,971755,796858,966920,957-
売上債権152,094147,049155,247138,420151,495136,512344,237327,421347,020351,131364,839338,824-
棚卸資産307,896320,583297,190337,717384,068388,234403,473364,352407,851422,909459,940424,084-
有価証券272,426249,568242,573140,810146,250106,258394,406373,777257,970230,891204,373207,816-
前払金-------------
繰延税金資産106,632108,709124,766----------
貸倒引当金-343-364-340-343-365-346-347------
流動資産1,861,7241,834,4331,770,4441,729,5711,780,9991,737,8931,913,7341,871,4321,823,4531,855,5691,978,7651,963,185-
固定資産
建物・構築物190,340192,753207,133211,511212,656216,837218,664------
機械・運搬具178,641172,844169,814192,541197,857194,327193,624------
土地184,127183,320184,339183,848183,304186,037187,052------
建設仮勘定42,89350,48455,90826,67229,12827,02231,334------
有形固定資産681,100672,217703,108733,461737,185715,092808,710832,441841,097827,928820,491802,344-
のれん------155,510161,406171,453179,807209,775204,295-
無形固定資産25,47926,20428,29327,44527,75930,71233,754------
投資有価証券119,319124,076113,465115,690121,449117,024122,453------
繰延税金資産20,61920,549139,171137,232138,800138,756127,523124,242120,973117,734118,487118,410-
貸倒引当金-3,318-3,339-3,362-3,394-3,329-3,343-3,246------
敷金および保証金-------------
投資その他の資産252,414260,332364,629370,148389,127386,374405,358------
固定資産958,993958,7531,096,0301,131,0541,154,0711,132,1781,266,8631,296,4101,312,9551,311,2051,315,1431,288,373-
総資産2,820,7172,793,1862,866,4742,860,6252,935,0702,870,0713,180,5973,167,8423,136,4083,166,7743,293,9083,251,558-
 
負債
有利子負債合計97,56791,86986,20256,66449,78952,035111,318107,011133,304175,237239,210448,349-
仕入債務318,668303,810320,137312,401335,936309,616404,395399,629322,121309,750336,223182,448-
前受金-------------
未払法人税等26,5052,82145,37213,84913,0313,3194,33117,7234,8903,1362,6423,134-
繰延税金負債(固定)28,06425,5372,4662,6052,8224,1624,5885,1676,6507,75511,7146,946-
負債1,315,4521,272,4461,305,4511,295,9961,358,0651,290,0371,490,6981,480,4761,446,7291,477,6911,573,7851,563,388-
 
純資産
資本金153,795153,795153,795153,795153,795153,795153,795153,795153,795153,795153,795153,795-
資本剰余金160,197160,197160,197160,197160,192160,192160,192160,192160,178160,178160,178160,178-
利益剰余金1,203,5251,216,1301,283,5391,273,7701,272,6191,291,2911,350,6391,361,1031,363,7421,352,0161,397,2391,368,057-
自己株式-7,047-7,051-7,054-7,054-6,908-6,910-6,910-6,912-6,719-6,721-6,722-6,723-
非支配株主持分7,2447,5998,1797,3787,4896,8777,6517,4837,0297,0707,2427,365-
純資産1,505,2651,520,7401,561,0231,564,6291,577,0051,580,0341,689,8991,687,3661,689,6791,689,0831,720,1231,688,170-
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128,484217,643297,34063,37860,460157,751186,02689,34993,104153,225207,656-10,735-
減価償却費48,55574,846102,10241,34690,487140,349187,07746,74194,475143,110192,74248,775-
のれん償却額-------161,406171,453179,807209,775204,295-
減損損失--31----------
受取利息及び受取配当金-3,214-5,314-8,186-12,565-16,244-9,637-13,701-8,932-7,288-10,976-15,844-7,424-
売上債権の増減額4,0349,6254013,7371,8126,341-26815,566-4,534-8,115-23,91625,784-
棚卸資産の増減額-8,869-23,062-15,922-12,866-55,478-57,537-71,37330,732-15,408-29,131-70,17332,662-
仕入債務の増減額-54,292-68,079-54,159-9,7319,531-1,976-11,197-7,858-79,386-89,328-67,939-141,382-
営業CF207,822254,613366,29842,274103,842171,662250,732136,69979,162129,210210,134-79,555-
投資CF
有価証券の取得-95,998-140,521-196,063-42,335-87,044-127,383-185,55000000-
有価証券の売却・償還16,35926,00234,27214,51322,59727,98136,54900000-
固定資産の購入-76,586-100,962-149,897-61,376-159,768-224,221-274,785-29,735-70,035-103,067-131,690-40,386-
固定資産の売却6272,5213,4132,6293,7995,7285,46900000-
貸付け-------------
貸付金の回収-------------
投資CF-101,432-131,983-150,711-36,090-96,856-139,174-190,119-27,94522,6061,773-25,844-36,433-
財務CF
短期借入金の純増減額-8,422-13,847-18,393-9,916-16,913-17,130-17,482-868-1,041-2,265-2,400151,365-
長期借入れ3,4003,4003,5007,90010,40017,10075,3005,90012,90038,500106,00060,000-
長期借入金の返済-42,572-43,493-44,443-27,553-29,758-33,877-43,382-1,545-2,003-4,557-7,592-379-
社債の発行---------40,00040,000--
社債の償還-------------
自己株式の取得---11----5------
自己株式の売却-------------
配当金の支払-55,154-110,140-110,326-53,695-55,189-110,105-110,384------
財務CF-103,327-165,009-170,937-93,960-114,618-178,471-141,551-61,737-47,026-71,082-15,818181,731-
換算差額2,7083,367-10,83116,61928,25216,82717,675-15,492-15,099-6,433-11,834-3,752-
その他
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
設備投資額--193,789---113,47929,73570,035103,067126,00240,386-
研究開発費------102,719------
発行済株式総数766,722,555株766,721,499株766,720,834株766,719,317株766,761,782株766,761,324株766,761,032株766,760,534株766,816,656株766,815,917株766,815,505株766,815,164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--33,544人---34,200人---35,034人--
売上/従業員(千円)--96,372---92,285---95,453--
営利/従業員(千円)--11,312---5,314---6,003--
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:-33.6 %
純利5y CAGR・予想:-32.1 %
P/L
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上794,003829,736794,946718,381773,056899,907764,806833,423772,250878,891859,545456,9982,900,000
前期比98.2%97.6%88.5%88.3%97.4%108.5%96.2%116.0%99.9%97.7%112.4%54.8%86.7%
売上原価595,005633,841616,782555,237674,082697,078631,865649,084669,037718,913691,571378,483-
売上総利益198,998195,895178,164163,14498,974202,829132,941184,339103,213159,978167,97478,515-
%25.1%23.6%22.4%22.7%12.8%22.5%17.4%22.1%13.4%18.2%19.5%17.2%-
販管費106,217101,715105,02271,81875,28375,91075,86473,19873,15078,86583,01460,440-
営業利益92,78194,18073,14262,147-5,72299,24126,05892,2122,63557,81157,661-15,67180,000
前期比86.7%95.9%70.3%52.1%-6.2%105.4%35.6%148.4%-46.1%58.3%221.3%-17.0%38.0%
%11.7%11.4%9.2%8.7%-0.7%11.0%3.4%11.1%0.3%6.6%6.7%-3.4%2.8%
受取利息および受取配当金0002,587000-000--
持分法による投資利益225-364743-59-119320235448-430-462221-103-
営業外収益3,309-1,3604,77714,3954,382-5,7044,507-000--
支払利息399302286224162158188-000--
持分法による投資損失00059119-1780-000--
営業外費用2,6372,4301,10111,8741,933-4,1077,170-000--
経常利益93,45390,39076,81863,378-2,91897,29128,27589,3493,75560,12154,431-10,735-
固定資産売却益40188220755293102124-000--
投資有価証券売却益538963,8922,1151,4562662-000--
特別利益5814704,6683,2383,076182457-000--
固定資産売却損000-000-000--
投資有価証券売却損000-000-000--
減損損失0031-000-000--
特別損失83,7681,7011,7891,7731,5542,1941,833-000--
税引前利益10,26689,15979,69763,378-2,91897,29128,27589,3493,75560,12154,431-10,735-
法人税等7,31721,08211,47616,6731,34222,7074,51522,7762,19916,84613,244-3,181-
%71.3%23.6%14.4%26.3%-46.0%23.3%16.0%25.5%58.6%28.0%24.3%29.6%-
当期純利益2,94968,07768,22146,705-4,26074,58423,76066,5731,55643,27541,187-7,554-
非支配株主に帰属する当期純利益270239710-72372-433455117-273-139299146-
親会社株主に帰属する当期純利益2,67967,83867,51147,428-4,33275,01723,30566,4561,82943,41440,888-7,70060,000
前期比3.2%155.3%90.2%57.6%-161.7%110.6%34.5%140.1%-42.2%57.9%175.4%-11.6%39.3%
%0.3%8.2%8.5%6.6%-0.6%8.3%3.0%8.0%0.2%4.9%4.8%-1.7%2.1%
 
EBITDA260,680381,151481,549103,493146,912296,015368,801300,359360,775475,575612,836--
EPS287.4円287.4円287.4円184.4円184.4円184.4円184.4円199.0円199.0円199.0円199.0円199.0円212.6円
BPS1,953.8円1,973.5円2,025.3円2,031.1円2,046.9円2,051.7円2,194.0円2,190.9円2,194.3円2,193.5円2,233.8円2,191.9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)3,420,0003,420,0003,420,0003,250,0003,250,0003,250,0003,250,0003,310,0003,310,0003,310,0003,310,000-2,900,000
対実績比47.0%71.3%94.5%22.1%45.9%73.6%97.1%25.2%48.5%75.1%101.0%--
営業利益(期初予)410,000410,000410,000300,000300,000300,000300,000260,000260,000260,000260,000-80,000
対実績比51.7%74.7%92.5%20.7%18.8%51.9%60.6%35.5%36.5%58.7%80.9%--
純利益(期初予)285,000285,000285,000220,000220,000220,000220,000210,000210,000210,000210,000-60,000
対実績比29.8%53.6%77.3%21.6%19.6%53.7%64.3%31.6%32.5%53.2%72.7%--
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4,060円3,583円3,487円3,225円3,480円2,360円2,523円2,619円3,040円2,714円2,074円2,242円-
企業価値2,491,3532,111,6702,051,5051,793,4801,923,9041,074,1331,219,8631,417,1371,722,4561,472,090970,2361,246,208-
時価総額3,112,7432,747,1672,673,5582,472,6752,668,1831,809,5581,934,1552,008,1472,331,1232,080,7571,589,9921,718,816-
純有利子負債-635,497-622,053-679,195-744,279-735,425-714,292-591,010-626,842-608,667-580,559-619,756-472,608-
PER(会予)13.6倍13.3倍12.9倍11.2倍12.1倍10.8倍13.8倍9.6倍11.1倍12.8倍9.8倍10.5倍-
PBR2.1倍1.8倍1.8倍1.6倍1.7倍1.2倍1.2倍1.2倍1.4倍1.2倍0.9倍1.0倍-
PER × PBR28.5倍24.3倍22.8倍17.9倍20.8倍12.5倍17.0倍11.4倍15.4倍15.8倍9.1倍10.8倍-
EV/EBITDA(会予)5.0倍4.5倍4.4倍4.5倍4.8倍3.3倍4.2倍3.2倍3.9倍3.6倍1.6倍2.0倍-
PSR(会予)0.9倍0.8倍0.8倍0.8倍0.8倍0.6倍0.6倍0.6倍0.7倍0.6倍0.5倍0.5倍-
PCFR(会予)9.9倍9.4倍9.1倍7.7倍8.3倍6.7倍8.0倍5.1倍5.9倍5.9倍2.8倍3.0倍-
配当金--144.0円---144.0円---100.0円-100.0円
配当利回り3.5%4.0%4.1%4.5%4.1%6.1%5.7%5.5%4.7%5.3%4.8%4.5%-
配当性向--50.1%---78.1%---50.3%--
自己資本配当率7.4%7.3%7.1%7.1%7.0%7.0%6.6%4.6%4.6%4.6%4.5%4.6%-
ROE14.7%14.6%14.2%9.1%9.0%9.0%8.4%9.1%9.1%9.1%8.9%9.1%-
純利益率(再掲)5.3%6.3%6.8%6.6%2.9%4.9%4.5%8.0%4.3%4.5%4.6%--
総資産回転率1.1回1.2回1.1回1.1回1.1回1.1回1.0回1.1回1.1回1.1回1.0回1.0回-
財務レバレッジ1.9倍1.8倍1.8倍1.8倍1.9倍1.8倍1.9倍1.9倍1.9倍1.9倍1.9倍1.9倍-
実質ROE14.6%14.5%14.1%9.0%9.0%9.0%8.4%9.0%9.0%9.0%8.9%9.0%-
ROIC19.0%18.9%18.5%8.5%8.4%8.4%7.6%8.7%8.5%8.4%8.0%7.3%-
ROA7.8%7.9%7.7%4.9%4.8%4.9%4.4%4.8%4.9%4.8%4.6%4.7%-
β1.521.311.241.241.181.101.171.151.061.011.091.06-
βの決定係数(R2)0.510.420.400.440.420.400.410.410.370.350.430.44-
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
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
流動資産
現金733,064713,922765,397800,943785,214766,327702,328733,853741,971755,796858,966920,957-
売上債権152,094147,049155,247138,420151,495136,512344,237327,421347,020351,131364,839338,824-
棚卸資産307,896320,583297,190337,717384,068388,234403,473364,352407,851422,909459,940424,084-
有価証券272,426249,568242,573140,810146,250106,258394,406373,777257,970230,891204,373207,816-
前払金-------------
繰延税金資産106,632108,709124,766----------
貸倒引当金-343-364-340-343-365-346-347------
流動資産1,861,7241,834,4331,770,4441,729,5711,780,9991,737,8931,913,7341,871,4321,823,4531,855,5691,978,7651,963,185-
固定資産
建物・構築物190,340192,753207,133211,511212,656216,837218,664------
機械・運搬具178,641172,844169,814192,541197,857194,327193,624------
土地184,127183,320184,339183,848183,304186,037187,052------
建設仮勘定42,89350,48455,90826,67229,12827,02231,334------
有形固定資産681,100672,217703,108733,461737,185715,092808,710832,441841,097827,928820,491802,344-
のれん------155,510161,406171,453179,807209,775204,295-
無形固定資産25,47926,20428,29327,44527,75930,71233,754------
投資有価証券119,319124,076113,465115,690121,449117,024122,453------
繰延税金資産20,61920,549139,171137,232138,800138,756127,523124,242120,973117,734118,487118,410-
貸倒引当金-3,318-3,339-3,362-3,394-3,329-3,343-3,246------
敷金および保証金-------------
投資その他の資産252,414260,332364,629370,148389,127386,374405,358------
固定資産958,993958,7531,096,0301,131,0541,154,0711,132,1781,266,8631,296,4101,312,9551,311,2051,315,1431,288,373-
総資産2,820,7172,793,1862,866,4742,860,6252,935,0702,870,0713,180,5973,167,8423,136,4083,166,7743,293,9083,251,558-
 
負債
有利子負債合計97,56791,86986,20256,66449,78952,035111,318107,011133,304175,237239,210448,349-
仕入債務318,668303,810320,137312,401335,936309,616404,395399,629322,121309,750336,223182,448-
前受金-------------
未払法人税等26,5052,82145,37213,84913,0313,3194,33117,7234,8903,1362,6423,134-
繰延税金負債(固定)28,06425,5372,4662,6052,8224,1624,5885,1676,6507,75511,7146,946-
負債1,315,4521,272,4461,305,4511,295,9961,358,0651,290,0371,490,6981,480,4761,446,7291,477,6911,573,7851,563,388-
 
純資産
資本金153,795153,795153,795153,795153,795153,795153,795153,795153,795153,795153,795153,795-
資本剰余金160,197160,197160,197160,197160,192160,192160,192160,192160,178160,178160,178160,178-
利益剰余金1,203,5251,216,1301,283,5391,273,7701,272,6191,291,2911,350,6391,361,1031,363,7421,352,0161,397,2391,368,057-
自己株式-7,047-7,051-7,054-7,054-6,908-6,910-6,910-6,912-6,719-6,721-6,722-6,723-
非支配株主持分7,2447,5998,1797,3787,4896,8777,6517,4837,0297,0707,2427,365-
純資産1,505,2651,520,7401,561,0231,564,6291,577,0051,580,0341,689,8991,687,3661,689,6791,689,0831,720,1231,688,170-
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128,484217,643297,34063,37860,460157,751186,02689,34993,104153,225207,656-10,735-
減価償却費48,55574,846102,10241,34690,487140,349187,07746,74194,475143,110192,74248,775-
のれん償却額-------161,406171,453179,807209,775204,295-
減損損失0031-000-000--
受取利息及び受取配当金-3,214-5,314-8,186-12,565-16,244-9,637-13,701-8,932-7,288-10,976-15,844-7,424-
売上債権の増減額4,0349,6254013,7371,8126,341-26815,566-4,534-8,115-23,91625,784-
棚卸資産の増減額-8,869-23,062-15,922-12,866-55,478-57,537-71,37330,732-15,408-29,131-70,17332,662-
仕入債務の増減額-54,292-68,079-54,159-9,7319,531-1,976-11,197-7,858-79,386-89,328-67,939-141,382-
営業CF207,822254,613366,29842,274103,842171,662250,732136,69979,162129,210210,134-79,555-
投資CF
有価証券の取得-95,998-140,521-196,063-42,335-87,044-127,383-185,55000000-
有価証券の売却・償還16,35926,00234,27214,51322,59727,98136,54900000-
固定資産の購入-76,586-100,962-149,897-61,376-159,768-224,221-274,785-29,735-70,035-103,067-131,690-40,386-
固定資産の売却6272,5213,4132,6293,7995,7285,46900000-
貸付け-------------
貸付金の回収-------------
投資CF-101,432-131,983-150,711-36,090-96,856-139,174-190,119-27,94522,6061,773-25,844-36,433-
財務CF
短期借入金の純増減額-8,422-13,847-18,393-9,916-16,913-17,130-17,482-868-1,041-2,265-2,400151,365-
長期借入れ3,4003,4003,5007,90010,40017,10075,3005,90012,90038,500106,00060,000-
長期借入金の返済-42,572-43,493-44,443-27,553-29,758-33,877-43,382-1,545-2,003-4,557-7,592-379-
社債の発行---------40,00040,000--
社債の償還-------------
自己株式の取得---11----5------
自己株式の売却-------------
配当金の支払-55,154-110,140-110,326-53,695-55,189-110,105-110,384------
財務CF-103,327-165,009-170,937-93,960-114,618-178,471-141,551-61,737-47,026-71,082-15,818181,731-
換算差額2,7083,367-10,83116,61928,25216,82717,675-15,492-15,099-6,433-11,834-3,752-
その他
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
設備投資額--193,789---113,47929,73570,035103,067126,00240,386-
研究開発費------102,719------
発行済株式総数766,722,555株766,721,499株766,720,834株766,719,317株766,761,782株766,761,324株766,761,032株766,760,534株766,816,656株766,815,917株766,815,505株766,815,164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--33,544人---34,200人---35,034人--
売上/従業員(千円)--96,372---92,285---95,453--
営利/従業員(千円)--11,312---5,314---6,003--