通期売上(百万円)
売上5y CAGR・予想:0.8 %
通期利益(百万円)
営利5y CAGR・予想:0.4 %
純利5y CAGR・予想:1.0 %
P/L
2017.32018.32019.32020.3
売上140,640141,370143,833145,900
前期比99.5%100.5%101.7%101.4%
売上原価86,21086,52789,555-
売上総利益54,43054,84254,277-
%38.7%38.8%37.7%-
販管費33,73633,73934,605-
営業利益20,69421,10319,67220,200
前期比104.1%102.0%93.2%102.7%
%14.7%14.9%13.7%13.8%
受取利息および受取配当金2646353-
持分法による投資利益----
営業外収益2,3721,4131,658-
支払利息331302159-
持分法による投資損失----
営業外費用528658449-
経常利益22,53921,85720,88121,200
固定資産売却益341035,952-
投資有価証券売却益4061-
特別利益4083206,013-
固定資産売却損----
投資有価証券売却損3,365---
減損損失1,4311,1121,828-
特別損失5,2241,3742,292-
税引前利益17,72320,80424,602-
法人税等6,5427,6348,931-
%36.9%36.7%36.3%-
当期純利益11,18013,16915,671-
非支配株主に帰属する当期純利益655470-
親会社株主に帰属する当期純利益11,11513,11515,60013,100
前期比88.2%118.0%118.9%84.0%
%7.9%9.3%10.8%9.0%
 
EBITDA36,88136,88137,50635,966
EPS194.6円230.2円275.4円231.1円
BPS2,058.0円2,148.4円2,294.0円-
期初会社予想
2017.32018.32019.32020.3
売上高(期初予)142,200141,200142,500145,900
対実績比98.9%100.1%100.9%-
営業利益(期初予)19,00020,80021,20020,200
対実績比108.9%101.5%92.8%-
純利益(期初予)12,40013,10013,50013,100
対実績比89.6%100.1%115.6%-
配当
ROEデュポン分解
β
マルチプル
2017.32018.32019.32020.3
企業価値230,502303,545288,163-
時価総額255,090321,300320,661-
純有利子負債-24,588-17,755-32,498-
PER(会予)25.3倍24.5倍20.0倍-
PBR2.2倍2.6倍2.5倍-
PER × PBR54.8倍64.4倍49.4倍-
EV/EBITDA(会予)6.6倍8.2倍7.9倍-
PSR(会予)1.8倍2.3倍2.3倍-
PCFR(会予)9.7倍11.0倍9.9倍-
配当金109.0円111.0円112.0円113.0円
配当利回り2.4%1.9%2.0%-
配当性向56.0%56.0%48.2%-
自己資本配当率5.3%5.2%4.9%-
ROE9.5%10.7%12.0%-
純利益率(再掲)7.9%9.3%10.8%-
総資産回転率0.8回0.8回0.8回-
財務レバレッジ1.6倍1.5倍1.4倍-
実質ROE9.3%10.6%11.7%-
ROIC9.1%8.6%7.0%-
ROA5.9%7.0%8.4%-
β0.470.460.32-
βの決定係数(R2)0.120.100.06-
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62,01945,53857,182-
売上債権6,7926,1705,963-
棚卸資産6,1586,6786,649-
有価証券-4,969--
前払金----
繰延税金資産1,0761,069--
貸倒引当金-181-175-133-
流動資産80,67368,44774,482-
固定資産
建物・構築物15,10315,76714,645-
機械・運搬具----
土地36,71438,05339,794-
建設仮勘定----
有形固定資産73,15375,40575,614-
のれん1,3214,0653,407-
無形固定資産7,12910,26310,351-
投資有価証券4,9595,2884,849-
繰延税金資産4,4804,4236,110-
貸倒引当金-37-65-71-
敷金および保証金14,26714,26314,976-
投資その他の資産25,99826,09828,366-
固定資産106,280111,767114,332-
総資産186,954180,215188,814-
 
負債
有利子負債合計37,43133,90522,663-
仕入債務3,3434,7084,035-
前受金----
未払法人税等3,2064,6526,030-
繰延税金負債(固定)758045-
負債67,88454,85956,178-
 
純資産
資本金12,35012,35012,350-
資本剰余金4,0034,0034,003-
利益剰余金102,649108,489117,709-
自己株式-1,368-1,309-2,986-
非支配株主持分1,3161,3591,417-
純資産119,069125,356132,636-
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17,72320,80424,602-
減価償却費16,18715,69215,108-
のれん償却額-711658-
減損損失1,4311,1121,828-
受取利息及び受取配当金-389-170-199-
売上債権の増減額3181,693-77-
棚卸資産の増減額41-69784-
仕入債務の増減額-6801848-
営業CF33,07633,30330,221-
投資CF
有価証券の取得00-181-
有価証券の売却・償還6,135561-
固定資産の購入-20,423-16,473-19,730-
固定資産の売却75948,889-
貸付け----
貸付金の回収----
投資CF-16,331-22,841-14,192-
財務CF
短期借入金の純増減額-49-39-273-
長期借入れ2,3851,400820-
長期借入金の返済-2,467-12,505-2,016-
社債の発行----
社債の償還--3,500--
自己株式の取得-2,166-1,001-1,677-
自己株式の売却----
配当金の支払-6,214-6,278-6,381-
財務CF-8,546-21,951-9,547-
換算差額809-28221-
その他
2017.32018.32019.32020.3
設備投資額----
研究開発費----
発行済株式総数57,131,032株56,968,032株56,653,938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3,348人3,449人3,467人-
売上/従業員(千円)42,00742,00740,989-
営利/従業員(千円)6,1816,1816,119-
四半期売上(百万円)
売上5y CAGR・予想:0.8 %
四半期利益(百万円)
営利5y CAGR・予想:0.4 %
純利5y CAGR・予想:1.0 %
P/L
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
売上140,64033,94869,022106,690141,37034,83969,823107,911143,83335,49271,018111,832145,900
前期比99.5%24.1%49.1%75.9%100.5%24.6%49.4%76.3%101.7%24.7%49.4%77.8%101.4%
売上原価86,21020,21641,54464,23386,52721,07542,44865,56389,55521,67243,85969,219-
売上総利益54,43013,73127,47842,45754,84213,76327,37442,34754,27713,82027,15942,613-
%38.7%40.4%39.8%39.8%38.8%39.5%39.2%39.2%37.7%38.9%38.2%38.1%-
販管費33,7368,17816,70125,28933,7398,41416,90025,64334,6058,55017,16526,129-
営業利益20,6945,55310,77617,16721,1035,34910,47416,70419,6725,2709,99316,48420,200
前期比104.1%26.8%52.1%83.0%102.0%25.3%49.6%79.2%93.2%26.8%50.8%83.8%102.7%
%14.7%16.4%15.6%16.1%14.9%15.4%15.0%15.5%13.7%14.8%14.1%14.7%13.8%
受取利息および受取配当金26492543632335425351324-
持分法による投資利益-------------
営業外収益2,3723879751,2831,4135379931,3121,6583938311,114-
支払利息331811612393024081121159376690-
持分法による投資損失-------------
営業外費用5281202784326586924230844970127201-
経常利益22,5395,82011,47418,01721,8575,81711,22517,70720,8815,59310,69717,39721,200
固定資産売却益346397100103075,2205,952000-
投資有価証券売却益4-00061616161-3939-
特別利益4086312112432062685,2816,01304040-
固定資産売却損-------------
投資有価証券売却損3,365---------130130-
減損損失1,4311171221511,11229161,82896776-
特別損失5,2241541933761,37422501882,292101391439-
税引前利益17,7235,72911,40117,76520,8045,85811,24322,80124,6025,49110,34616,998-
法人税等6,5421,9553,9956,2397,6342,0283,9577,8748,9311,8883,6385,355-
%36.9%34.1%35.0%35.1%36.7%34.6%35.2%34.5%36.3%34.4%35.2%31.5%-
当期純利益11,1803,7747,40511,52513,1693,8297,28514,92615,6713,6026,70811,642-
非支配株主に帰属する当期純利益651531475420324870335262-
親会社株主に帰属する当期純利益11,1153,7587,37311,47813,1153,8087,25314,87815,6003,5686,65511,58013,100
前期比88.2%33.8%66.3%103.3%118.0%29.0%55.3%113.4%118.9%22.9%42.7%74.2%84.0%
%7.9%11.1%10.7%10.8%9.3%10.9%10.4%13.8%10.8%10.1%9.4%10.4%9.0%
 
EBITDA36,88136,88136,88136,88136,88137,50637,50637,50637,50635,43835,43835,43835,966
EPS194.6円229.5円229.5円230.2円230.2円230.2円273.8円273.8円275.4円275.4円275.2円275.2円231.1円
BPS2,058.0円2,069.4円2,069.4円2,124.5円2,148.4円2,173.0円2,184.9円2,244.5円2,294.0円2,310.8円2,372.8円2,372.8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)142,200141,200141,200141,200141,200142,500142,500142,500142,500145,900145,900145,900145,900
対実績比98.9%24.0%48.9%75.6%100.1%24.4%49.0%75.7%100.9%24.3%48.7%76.6%-
営業利益(期初予)19,00020,80020,80020,80020,80021,20021,20021,20021,20020,20020,20020,20020,200
対実績比108.9%26.7%51.8%82.5%101.5%25.2%49.4%78.8%92.8%26.1%49.5%81.6%-
純利益(期初予)12,40013,10013,10013,10013,10013,50013,50013,50013,50013,10013,10013,10013,100
対実績比89.6%28.7%56.3%87.6%100.1%28.2%53.7%110.2%115.6%27.2%50.8%88.4%-
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230,502283,468289,754304,535303,545282,343291,432267,664288,163248,308247,119289,060-
時価総額255,090301,171307,457320,160321,300304,779312,184296,233320,661283,836282,815324,756-
純有利子負債-24,588-17,703-17,703-15,625-17,755-22,436-20,752-28,569-32,498-35,528-35,696-35,696-
PER(会予)25.3倍23.0倍23.5倍24.4倍24.5倍22.6倍23.1倍21.9倍20.0倍21.7倍21.6倍24.8倍-
PBR2.2倍2.5倍2.6倍2.6倍2.6倍2.5倍2.5倍2.3倍2.5倍2.2倍2.1倍2.4倍-
PER × PBR54.8倍58.5倍61.0倍64.7倍64.4倍55.6倍58.0倍50.8倍49.4倍47.0倍45.4倍59.9倍-
EV/EBITDA(会予)6.6倍7.7倍7.8倍8.2倍8.2倍7.5倍7.8倍7.1倍7.9倍6.9倍6.9倍8.0倍-
PSR(会予)1.8倍2.1倍2.2倍2.3倍2.3倍2.1倍2.2倍2.1倍2.3倍1.9倍1.9倍2.2倍-
PCFR(会予)9.7倍10.3倍10.5倍10.9倍11.0倍10.2倍10.4倍9.9倍9.9倍9.8倍9.8倍11.3倍-
配当金109.0円---111.0円---112.0円---113.0円
配当利回り2.4%2.1%2.0%1.9%1.9%2.1%2.0%2.1%2.0%2.2%2.2%2.0%-
配当性向56.0%56.0%56.0%56.0%56.0%48.2%48.2%48.2%48.2%40.7%40.7%40.7%-
自己資本配当率5.3%5.4%5.4%5.2%5.2%5.1%5.1%5.0%4.9%4.8%4.7%4.7%-
ROE9.5%11.1%11.1%10.8%10.7%10.6%12.5%12.2%12.0%11.9%11.6%11.6%-
純利益率(再掲)7.9%11.1%10.7%10.8%9.3%10.9%10.4%13.8%10.8%10.1%9.4%10.4%-
総資産回転率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0.8回-
財務レバレッジ1.6倍1.6倍1.6倍1.5倍1.5倍1.5倍1.4倍1.4倍1.4倍1.4倍1.4倍1.4倍-
実質ROE9.3%11.0%11.0%10.7%10.6%10.5%12.4%12.1%11.7%11.7%11.4%11.4%-
ROIC9.1%8.6%8.6%8.7%8.6%9.2%7.3%7.1%7.0%7.0%7.2%7.2%-
ROA5.9%7.0%7.0%7.0%7.0%7.3%8.8%8.5%8.4%8.3%8.5%8.5%-
β0.470.480.470.450.460.300.310.300.320.350.360.36-
βの決定係数(R2)0.120.110.110.090.100.040.050.050.060.070.070.07-
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62,01955,71349,53251,66045,53843,85951,32355,16157,18252,13450,23047,570-
売上債権6,7925,2345,2345,1306,1705,1324,9815,0915,9635,2054,6984,698-
棚卸資産6,1586,1786,1787,2256,6786,2526,0966,3056,6495,4648,1198,119-
有価証券--5,1683,7184,9692,697-------
前払金-------------
繰延税金資産1,076---1,069--------
貸倒引当金-181-162-170-166-175-163-177-146-133-146-127-142-
流動資産80,67374,54273,86174,59568,44764,53469,41974,27374,48269,42968,51767,928-
固定資産
建物・構築物15,103---15,767---14,645----
機械・運搬具-------------
土地36,71436,71437,74338,01438,05338,05338,05337,10839,79439,79439,79439,794-
建設仮勘定-------------
有形固定資産73,15375,83475,99677,01075,40575,33475,05473,85275,61475,54175,39077,806-
のれん1,3214,8314,6254,4194,0653,8993,7333,5683,4073,2563,1053,054-
無形固定資産7,12910,61710,60610,35310,26310,13310,31310,29110,35110,44510,48610,366-
投資有価証券4,9594,9675,1355,5585,2885,5345,4044,5394,8494,6004,4264,427-
繰延税金資産4,480---4,423---6,110----
貸倒引当金-37-41-45-78-65-65-64-73-71-69-69-70-
敷金および保証金14,26714,46314,38514,18114,26314,92414,95415,28314,97615,25315,47115,458-
投資その他の資産25,99826,25526,38126,34526,09828,21627,97227,78828,36628,52428,58128,330-
固定資産106,280112,707112,983113,709111,767113,684113,340111,933114,332114,511114,458116,503-
総資産186,954187,249186,845188,305180,215178,219182,759186,206188,814183,940182,975184,431-
 
負債
有利子負債合計37,43138,01038,01033,90733,90523,10223,10722,75422,66321,65414,53414,534-
仕入債務3,3433,2633,2633,8574,7083,4213,1243,5504,0353,4694,6944,694-
前受金-------------
未払法人税等3,2062,0494,1362,8874,6522,0844,0684,1396,0301,8923,6431,059-
繰延税金負債(固定)75---80---45----
負債67,88467,52564,31864,38254,85952,15853,26854,57356,17850,95446,77447,436-
 
純資産
資本金12,35012,35012,35012,35012,35012,35012,35012,35012,35012,35012,35012,350-
資本剰余金4,0034,0034,0034,0034,0034,0034,0034,0034,0034,0034,0034,003-
利益剰余金102,649103,249105,881106,852108,489109,108112,552116,986117,709118,078121,164122,915-
自己株式-1,368-1,291-1,308-1,308-1,309-1,309-1,309-2,986-2,986-2,870-2,870-3,911-
非支配株主持分1,3161,3201,3371,3521,3591,3671,3791,3951,4171,4361,4551,465-
純資産119,069119,724122,527123,923125,356126,060129,491131,633132,636132,985136,200136,995-
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17,7235,72911,40117,76520,8045,85811,24322,80124,6025,49110,34616,998-
減価償却費16,187-7,328-15,692-7,237-15,108-6,991--
のれん償却額----711-331-658-301--
減損損失1,4311171221511,11229161,82896776-
受取利息及び受取配当金-389--78--170--124--199--96--
売上債権の増減額318-1,677-1,693-41--77-495--
棚卸資産の増減額41--1,044--69--48-784--2,660--
仕入債務の増減額-680-472-18-126-48-1,231--
営業CF33,076-14,296-33,303-13,239-30,221-11,489--
投資CF
有価証券の取得000000-1810-181000-
有価証券の売却・償還6,135050506106101890-
固定資産の購入-20,4230-8,5130-16,4730-7,2790-19,7300-6,9770-
固定資産の売却75014409401108,889010-
貸付け-------------
貸付金の回収-------------
投資CF-16,331--13,951--22,841--9,101--14,192--8,100--
財務CF
短期借入金の純増減額-49-72--39-186--273-115--
長期借入れ2,385-900-1,400-520-820-70--
長期借入金の返済-2,467--1,218--12,505--1,063--2,016--814--
社債の発行-------------
社債の償還---3,500--3,500------6,500--
自己株式の取得-2,166--1,001--1,001-0--1,677----
自己株式の売却-------------
配当金の支払-6,214--3,141--6,278--3,190--6,381--3,152--
財務CF-8,546--7,911--21,951--3,563--9,547--10,299--
換算差額809-254--28-252-221--55--
その他
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
設備投資額-------------
研究開発費-------------
発行済株式総数57,131,032株57,148,132株57,148,132株56,968,032株56,968,032株56,967,972株56,967,938株56,967,938株56,653,938株56,653,910株56,676,438株56,676,438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3,348人---3,449人---3,467人----
売上/従業員(千円)42,00742,00742,00742,00742,00740,98940,98940,98940,98941,48641,48641,486-
営利/従業員(千円)6,1816,1816,1816,1816,1816,1196,1196,1196,1195,6745,6745,674-