通期売上(百万円)
売上5y CAGR・予想:-1.3 %
通期利益(百万円)
営利5y CAGR・予想:6.2 %
純利5y CAGR・予想:-4.5 %
P/L
2018.32019.32020.32021.3E
売上1,412,2511,401,5051,401,894-
前期比100.1%99.2%100.0%-
売上原価1,131,6621,119,3901,109,051-
売上総利益280,589282,114292,842-
%19.9%20.1%20.9%-
販管費234,217232,216236,568-
営業利益46,37249,89856,274-
前期比147.6%107.6%112.8%-
%3.3%3.6%4.0%-
受取利息および受取配当金5,8395,2555,586-
持分法による投資利益3,0074,1616,050-
営業外収益13,82515,19415,662-
支払利息2,2122,0681,466-
持分法による投資損失----
営業外費用9,2266,8328,150-
経常利益50,97158,25963,786-
固定資産売却益13,0222,93730,248-
投資有価証券売却益44,96418,02551,450-
特別利益59,31223,08981,728-
固定資産売却損4162632,089-
投資有価証券売却損5674,3057,082-
減損損失5,95216,68526,516-
特別損失64,887100,03542,795-
税引前利益45,396-18,685102,719-
法人税等15,92514,26230,624-
%35.1%-76.3%29.8%-
当期純利益29,470-32,94772,094-
非支配株主に帰属する当期純利益1,9692,7212,597-
親会社株主に帰属する当期純利益27,501-35,66869,497-
前期比109.0%-129.7%-194.8%-
%1.9%-5.0%-
 
EBITDA109,748110,729112,407-
EPS91.2円-118.2円247.4円231.4円
BPS3,493.8円3,300.5円3,260.4円-
期初会社予想
2018.32019.32020.32021.3E
売上高(期初予)1,420,0001,420,0001,416,000-
対実績比99.5%98.7%99.0%-
営業利益(期初予)35,00047,00051,000-
対実績比132.5%106.2%110.3%-
純利益(期初予)26,00028,00051,000-
対実績比105.8%-127.4%136.3%-
配当
ROEデュポン分解
β
マルチプル
2018.32019.32020.32021.3E
株価2,198円2,647円2,301円-
企業価値620,879723,957491,510-
時価総額662,838798,920646,307-
純有利子負債-63,279-96,066-154,797-
PER(会予)25.5倍28.5倍9.9倍-
PBR0.6倍0.8倍0.7倍-
PER × PBR16.0倍21.8倍7.0倍-
EV/EBITDA(会予)6.3倍6.6倍4.6倍-
PSR(会予)0.5倍0.6倍0.5倍-
PCFR(会予)7.4倍8.7倍5.3倍-
配当金64.0円64.0円64.0円64.0円
配当利回り2.9%2.4%2.8%-
配当性向70.2%-54.2%25.9%-
自己資本配当率1.4%1.9%2.0%-
ROE2.6%-7.6%-
純利益率(再掲)1.9%-5.0%-
総資産回転率0.8回0.8回0.8回-
財務レバレッジ1.7倍1.8倍1.9倍-
実質ROE2.5%-6.7%-
ROIC2.5%3.1%2.3%-
ROA1.5%-4.0%-
β0.860.830.94-
βの決定係数(R2)0.460.490.55-
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242,781268,046373,013-
売上債権354,241351,450330,798-
棚卸資産137,547133,070134,279-
有価証券-15,00018,000-
前払金----
繰延税金資産19,713---
貸倒引当金-1,690-1,515-1,361-
流動資産780,039799,280884,010-
固定資産
建物・構築物566,445549,251520,307-
機械・運搬具736,596708,330696,459-
土地151,521147,924141,423-
建設仮勘定7,16011,76016,428-
有形固定資産474,397441,120409,367-
のれん4,2412,4891,187-
無形固定資産32,85328,91422,716-
投資有価証券401,414393,104298,894-
繰延税金資産10,91311,068--
貸倒引当金-3,632-2,315-2,286-
敷金および保証金----
投資その他の資産507,472505,707405,629-
固定資産1,014,724975,742837,713-
総資産1,794,7641,775,0221,721,724-
 
負債
有利子負債合計179,502171,980218,216-
仕入債務248,993246,138238,066-
前受金----
未払法人税等10,0427,44816,621-
繰延税金負債(固定)64,98365,300--
負債692,213728,400753,149-
 
純資産
資本金114,464114,464114,464-
資本剰余金144,264144,765145,024-
利益剰余金681,976626,949676,346-
自己株式-62,908-62,898-122,911-
非支配株主持分48,95050,45952,794-
純資産1,102,5501,046,622968,574-
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45,396-18,685102,719-
減価償却費61,07059,08054,474-
のれん償却額2,3061,7511,659-
減損損失5,95216,68526,516-
受取利息及び受取配当金-5,840-5,255-5,586-
売上債権の増減額-17,6062,09822,195-
棚卸資産の増減額-8751,997-1,286-
仕入債務の増減額5,899-1,912-9,011-
営業CF48,45768,97193,937-
投資CF
有価証券の取得-1,234-2,404-1,028-
有価証券の売却・償還54,61626,78558,112-
固定資産の購入-42,983-47,378-49,707-
固定資産の売却19,6446,94246,104-
貸付け----
貸付金の回収----
投資CF23,074-146,909191,057-
財務CF
短期借入金の純増減額2,257-2,282-3,424-
長期借入れ2,6902,5002,700-
長期借入金の返済-4,076-4,142-2,521-
社債の発行1,2242,44299,496-
社債の償還-240-2,290-51,490-
自己株式の取得-15,037-15-60,060-
自己株式の売却----
配当金の支払-19,524-19,324-19,283-
財務CF-42,771-32,196-41,280-
換算差額1,428-1,031-118-
その他
2018.32019.32020.32021.3E
設備投資額59,55741,10357,100-
研究開発費-33,78633,603-
発行済株式総数301,563,746株301,819,601株280,881,002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38,627人38,051人38,181人-
売上/従業員(千円)36,56136,83236,717-
営利/従業員(千円)1,2011,3111,474-
四半期売上(百万円)
売上5y CAGR・予想:-1.3 %
四半期利益(百万円)
営利5y CAGR・予想:6.2 %
純利5y CAGR・予想:-4.5 %
P/L
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上687,4981,050,9591,412,251342,969685,5631,046,3661,401,505344,575694,1501,047,1551,401,894323,5511,340,000
前期比98.6%100.1%100.1%99.8%99.7%99.6%99.2%100.5%101.3%100.1%100.0%93.9%95.6%
売上原価554,354842,7971,131,662274,073547,973836,6961,119,390272,062549,711827,7471,109,051257,290-
売上総利益133,143208,161280,58968,895137,590209,670282,11472,512144,439219,407292,84266,260-
%19.4%19.8%19.9%20.1%20.1%20.0%20.1%21.0%20.8%21.0%20.9%20.5%-
販管費116,195175,558234,21756,940114,758173,520232,21658,689118,749178,062236,56856,612-
営業利益16,94732,60346,37211,95522,83236,14949,89813,82325,68941,34556,2749,64840,000
前期比145.2%145.6%147.6%145.2%134.7%110.9%107.6%115.6%112.5%114.4%112.8%69.8%71.1%
%2.5%3.1%3.3%3.5%3.3%3.5%3.6%4.0%3.7%3.9%4.0%3.0%3.0%
受取利息および受取配当金3,5515,5045,8392,4412,8114,8235,2552,6323,0295,1055,5862,278-
持分法による投資利益1,3882,1403,0071,5821,3752,9864,1611,4372,9944,7786,0501,728-
営業外収益7,53711,23413,8255,3917,02111,23015,1945,2008,42012,93515,6625,363-
支払利息1,1171,6642,2125381,0581,5702,0684978631,1581,466369-
持分法による投資損失-------------
営業外費用5,3787,5569,2262,1474,0055,8896,8321,9834,6906,3738,1501,426-
経常利益19,10636,28150,97115,19825,84841,49058,25917,04029,42047,90663,78613,58548,000
固定資産売却益2,0352,03813,022364415492,9379,36829,96330,15530,2485-
投資有価証券売却益6,23815,75444,96462791,10418,025351,34051,36751,45015-
特別利益8,40718,51259,3122,1272,5523,77423,0899,39981,33381,55281,72820-
固定資産売却損--416---263---2,089--
投資有価証券売却損1091095674304311,4584,3053044693137,082688-
減損損失-225,952--1,76416,685---26,516--
特別損失55,69156,92264,8871,2661,9525,448100,0358451,5022,73942,7951,407-
税引前利益-28,178-2,12845,39616,05926,44939,816-18,68525,594109,250126,719102,71912,198-
法人税等-8,139-1,07015,9254,5427,76812,33814,2626,21032,10237,26730,6244,371-
%28.9%50.3%35.1%28.3%29.4%31.0%-76.3%24.3%29.4%29.4%29.8%35.8%-
当期純利益-20,038-1,05729,47011,51718,68027,478-32,94719,38377,14889,45172,0947,826-
非支配株主に帰属する当期純利益1,3902,1511,9691,3771,7472,0502,7211,3671,6522,3742,597425-
親会社株主に帰属する当期純利益-21,428-3,20827,50110,13916,93225,427-35,66818,01575,49587,07769,4977,40121,000
前期比-141.5%-12.8%109.0%132.7%-79.0%-792.6%-129.7%177.7%445.9%342.5%-194.8%41.1%30.2%
%--1.9%3.0%2.5%2.4%-5.2%10.9%8.3%5.0%2.3%1.6%
 
EBITDA47,24532,603109,74811,95552,79736,149110,72913,82353,23441,345112,4079,648-
EPS91.2円91.2円91.2円-118.3円-118.2円-118.2円-118.2円230.3円231.2円239.7円247.4円247.4円0.0円
BPS3,390.0円3,502.3円3,493.8円3,553.9円3,692.5円3,469.8円3,300.5円3,365.2円3,377.2円3,503.6円3,260.4円3,352.0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)1,420,0001,420,0001,420,0001,420,0001,420,0001,420,0001,420,0001,416,0001,416,0001,416,0001,416,000-1,340,000
対実績比48.4%74.0%99.5%24.2%48.3%73.7%98.7%24.3%49.0%74.0%99.0%--
営業利益(期初予)35,00035,00035,00047,00047,00047,00047,00051,00051,00051,00051,000-40,000
対実績比48.4%93.2%132.5%25.4%48.6%76.9%106.2%27.1%50.4%81.1%110.3%--
純利益(期初予)26,00026,00026,00028,00028,00028,00028,00051,00051,00051,00051,000-21,000
対実績比-82.4%-12.3%105.8%36.2%60.5%90.8%-127.4%35.3%148.0%170.7%136.3%--
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2,693円2,513円2,198円2,479円2,642円2,297円2,647円2,296円2,791円2,960円2,301円2,469円-
企業価値776,122713,591620,879684,298715,732608,158723,957596,912625,779676,586491,510549,313-
時価総額816,637757,841662,838747,577796,730693,285798,920692,978839,072889,879646,307693,494-
純有利子負債-44,250-41,959-63,279-80,998-85,127-74,963-96,066-129,343-213,293-173,170-154,797-144,181-
PER(会予)31.4倍29.1倍25.5倍26.7倍28.5倍24.8倍28.5倍13.6倍16.5倍17.4倍9.9倍--
PBR0.8倍0.7倍0.6倍0.7倍0.7倍0.6倍0.8倍0.7倍0.8倍0.9倍0.7倍0.7倍-
PER × PBR24.9倍21.6倍16.0倍18.9倍21.2倍15.4倍21.8倍9.5倍13.6倍15.3倍7.0倍--
EV/EBITDA(会予)7.9倍7.2倍6.3倍6.2倍6.5倍5.5倍6.6倍5.3倍5.6倍6.1倍4.6倍--
PSR(会予)0.6倍0.5倍0.5倍0.5倍0.6倍0.5倍0.6倍0.5倍0.6倍0.6倍0.5倍--
PCFR(会予)9.1倍8.4倍7.4倍8.2倍8.7倍7.6倍8.7倍6.2倍7.5倍8.0倍5.3倍12.4倍-
配当金--64.0円---64.0円---64.0円-0.0円
配当利回り2.4%2.5%2.9%2.6%2.4%2.8%2.4%2.8%2.3%2.2%2.8%2.6%-
配当性向--70.2%----54.2%---25.9%--
自己資本配当率1.4%1.4%1.4%1.8%1.7%1.8%1.9%1.9%1.9%1.8%2.0%1.9%-
ROE2.7%2.6%2.6%----6.8%6.8%6.8%7.6%7.4%-
純利益率(再掲)--1.9%3.0%2.5%2.4%-5.2%10.9%8.3%5.0%2.3%-
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1.7倍1.7倍1.7倍1.7倍1.6倍1.7倍1.8倍1.8倍1.7倍1.8倍1.9倍1.8倍-
実質ROE2.5%2.5%2.5%----6.4%6.4%6.2%6.7%6.5%-
ROIC2.6%2.5%2.5%2.9%2.8%3.0%3.1%2.2%2.2%2.2%2.3%2.2%-
ROA1.6%1.5%1.5%----3.9%3.9%3.9%4.0%4.0%-
β0.900.850.860.810.830.840.830.820.870.910.940.88-
βの決定係数(R2)0.510.430.460.420.450.500.490.500.480.510.550.54-
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193,987191,527242,781234,205239,416228,406268,046282,983366,635324,319373,013347,431-
売上債権337,604351,178354,241334,453330,748347,060351,450331,631318,151335,483330,798307,672-
棚卸資産141,613143,054137,547138,950138,603138,769133,070138,977136,083139,257134,279140,228-
有価証券------15,000---18,00018,000-
前払金-------------
繰延税金資産--19,713----------
貸倒引当金-1,494-1,425-1,690-1,573-1,412-1,354-1,515-1,371-1,321-1,351-1,361-1,044-
流動資産715,838724,264780,039753,058742,257750,872799,280797,281856,331835,617884,010840,395-
固定資産
建物・構築物203,026200,743566,445196,540195,031192,471549,251178,988169,658170,656520,307156,333-
機械・運搬具79,59177,115736,59678,12876,44971,588708,33065,77665,97467,767696,45966,767-
土地153,525153,710151,521151,219151,007151,707147,924147,108146,546145,975141,423141,431-
建設仮勘定13,02514,2137,1607,2527,53110,75711,76013,77415,58314,84316,42814,140-
有形固定資産485,974482,467474,397467,682463,299458,130441,120435,317426,673427,345409,367406,939-
のれん--4,241---2,489---1,187--
無形固定資産33,20632,52032,85332,08732,10931,88128,91428,50528,56528,60222,71623,307-
投資有価証券428,809458,887401,414431,832482,097382,351393,104410,024334,826376,468298,894342,660-
繰延税金資産--10,913---11,068------
貸倒引当金-3,614-3,696-3,632-3,556-2,508-2,511-2,315-2,285-2,256-2,197-2,286-2,250-
敷金および保証金-------------
投資その他の資産518,573551,317507,472537,805589,961488,732505,707521,951448,842487,693405,629450,347-
固定資産1,037,7531,066,3061,014,7241,037,5751,085,370978,744975,742985,775904,080943,641837,713880,594-
総資産1,753,5921,790,5701,794,7641,790,6341,827,6281,729,6171,775,0221,783,0571,760,4121,779,2591,721,7241,720,989-
 
負債
有利子負債合計149,737149,568179,502153,207154,289153,443171,980153,640153,342151,149218,216203,250-
仕入債務241,270253,798248,993247,106232,298249,948246,138248,413229,646242,003238,066229,541-
前受金-------------
未払法人税等--10,042---7,448-18,894-16,621--
繰延税金負債(固定)67,40177,25264,98375,62390,36961,64865,300------
負債683,137685,552692,213668,882663,019632,067728,400715,581693,468711,050753,149727,505-
 
純資産
資本金114,464114,464114,464114,464114,464114,464114,464114,464114,464114,464114,464114,464-
資本剰余金144,269144,269144,264144,174144,765144,765144,765144,766144,766145,018145,024145,024-
利益剰余金642,706651,267681,976682,416689,209688,045626,949635,304692,784694,745676,346674,758-
自己株式-62,897-62,907-62,908-62,909-62,892-62,895-62,898-62,899-66,175-97,262-122,911-122,912-
非支配株主持分48,13648,84848,95050,02150,12550,30450,45951,79651,63552,23652,79451,986-
純資産1,070,4541,105,0171,102,5501,121,7511,164,6081,097,5491,046,6221,067,4751,066,9431,068,209968,574993,484-
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-28,178-2,12845,39616,05926,44939,816-18,68525,594109,250126,719102,71912,198-
減価償却費29,145-61,070-29,084-59,080-26,711-54,474--
のれん償却額1,153-2,306-881-1,751-834-1,659--
減損損失-225,952--1,76416,685---26,516--
受取利息及び受取配当金-3,551--5,840--2,811--5,255--3,029--5,586--
売上債権の増減額3,776--17,606-22,550-2,098-33,085-22,195--
棚卸資産の増減額-4,143--875--1,831-1,997--4,658--1,286--
仕入債務の増減額-7,282-5,899--14,848--1,912--13,734--9,011--
営業CF22,092-48,457-40,637-68,971-54,196-93,937--
投資CF
有価証券の取得-8080-1,2340-7320-2,4040-4000-1,0280-
有価証券の売却・償還8,023054,61602,819026,785056,197058,1120-
固定資産の購入-23,3410-42,9830-25,1970-47,3780-26,3320-49,7070-
固定資産の売却8,398019,64401,47506,942042,486046,1040-
貸付け-------------
貸付金の回収-------------
投資CF-1,266-23,074--142,710--146,909-207,657-191,057--
財務CF
短期借入金の純増減額-9,467-2,257--11,821--2,282--9,209--3,424--
長期借入れ2,650-2,690-2,000-2,500-1,100-2,700--
長期借入金の返済-2,103--4,076--2,231--4,142--1,368--2,521--
社債の発行--1,224-1,953-2,442-49,785-99,496--
社債の償還-120--240--2,145--2,290--50,145--51,490--
自己株式の取得-15,025--15,037--8--15--3,278--60,060--
自己株式の売却-------------
配当金の支払-9,853--19,524--9,663--19,324--9,659--19,283--
財務CF-38,929--42,771--26,430--32,196--28,029--41,280--
換算差額838-1,428--706--1,031--1,289--118--
その他
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
設備投資額23,341059,557025,197041,103026,332057,1000-
研究開発費------33,786---33,603--
発行済株式総数301,568,064株301,564,295株301,563,746株301,563,254株301,822,112株301,820,889株301,819,601株301,819,149株300,634,903株289,977,301株280,881,002株280,880,658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--38,627人---38,051人---38,181人--
売上/従業員(千円)--36,561---36,832---36,717--
営利/従業員(千円)--1,201---1,311---1,474--
四半期売上(百万円)
売上5y CAGR・予想:-1.3 %
四半期利益(百万円)
営利5y CAGR・予想:6.2 %
純利5y CAGR・予想:-4.5 %
P/L
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
売上343,777363,461361,292342,969342,594360,803355,139344,575349,575353,005354,739323,5511,340,000
前期比98.9%103.1%100.3%99.8%99.7%99.3%98.3%100.5%102.0%97.8%99.9%93.9%95.6%
売上原価276,430288,443288,865274,073273,900288,723282,694272,062277,649278,036281,304257,290-
売上総利益67,34775,01872,42868,89568,69572,08072,44472,51271,92774,96873,43566,260-
%19.6%20.6%20.0%20.1%20.1%20.0%20.4%21.0%20.6%21.2%20.7%20.5%-
販管費58,63359,36358,65956,94057,81858,76258,69658,68960,06059,31358,50656,612-
営業利益8,71415,65613,76911,95510,87713,31713,74913,82311,86615,65614,9299,64840,000
前期比151.7%146.1%152.6%145.2%124.8%85.1%99.9%115.6%109.1%117.6%108.6%69.8%71.1%
%2.5%4.3%3.8%3.5%3.2%3.7%3.9%4.0%3.4%4.4%4.2%3.0%3.0%
受取利息および受取配当金2731,953-5,5042,4413702,012-4,8232,6323972,076-5,1052,278-
持分法による投資利益-1797528671,582-2071,6111,1751,4371,5571,7841,2721,728-
営業外収益1,6053,6972,5915,3911,6304,2093,9645,2003,2204,5152,7275,363-
支払利息553547548538520512498497366295308369-
持分法による投資損失000-000-000--
営業外費用3,0132,1781,6702,1471,8581,8849431,9832,7071,6831,7771,426-
経常利益7,30617,17514,69015,19810,65015,64216,76917,04012,38018,48615,88013,58548,000
固定資産売却益1,334310,984364051082,3889,36820,595192935-
投資有価証券売却益3,0099,51629,21062171,02516,921351,337278315-
特別利益4,38010,10540,8002,1274251,22219,3159,39971,93421917620-
固定資産売却損00416-00263-002,089--
投資有価証券売却損0045843011,0272,847304165-1566,769688-
減損損失0225,930-01,76414,921-0026,516--
特別損失54,8261,2317,9651,2666863,49694,5878456571,23740,0561,407-
税引前利益-43,14026,05047,52416,05910,39013,367-58,50125,59483,65617,469-24,00012,198-
法人税等-14,1277,06916,9954,5423,2264,5701,9246,21025,8925,165-6,6434,371-
%32.7%27.1%35.8%28.3%31.0%34.2%-3.3%24.3%31.0%29.6%27.7%35.8%-
当期純利益-29,01118,98130,52711,5177,1638,798-60,42519,38357,76512,303-17,3577,826-
非支配株主に帰属する当期純利益55761-1821,3773703036711,367285722223425-
親会社株主に帰属する当期純利益-29,06618,22030,70910,1396,7938,495-61,09518,01557,48011,582-17,5807,40121,000
前期比-202.3%182.3%33,746.2%132.7%-23.4%46.6%-198.9%177.7%846.2%136.3%28.8%41.1%30.2%
%-8.5%5.0%8.5%3.0%2.0%2.4%-17.2%5.2%16.4%3.3%-5.0%2.3%1.6%
 
EBITDA47,24532,603109,74811,95552,79736,149110,72913,82353,23441,345112,4079,648-
EPS91.2円91.2円91.2円-118.3円-118.2円-118.2円-118.2円230.3円231.2円239.7円247.4円247.4円0.0円
BPS3,390.0円3,502.3円3,493.8円3,553.9円3,692.5円3,469.8円3,300.5円3,365.2円3,377.2円3,503.6円3,260.4円3,352.0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)1,420,0001,420,0001,420,0001,420,0001,420,0001,420,0001,420,0001,416,0001,416,0001,416,0001,416,000-1,340,000
対実績比48.4%74.0%99.5%24.2%48.3%73.7%98.7%24.3%49.0%74.0%99.0%--
営業利益(期初予)35,00035,00035,00047,00047,00047,00047,00051,00051,00051,00051,000-40,000
対実績比48.4%93.2%132.5%25.4%48.6%76.9%106.2%27.1%50.4%81.1%110.3%--
純利益(期初予)26,00026,00026,00028,00028,00028,00028,00051,00051,00051,00051,000-21,000
対実績比-82.4%-12.3%105.8%36.2%60.5%90.8%-127.4%35.3%148.0%170.7%136.3%--
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2,693円2,513円2,198円2,479円2,642円2,297円2,647円2,296円2,791円2,960円2,301円2,469円-
企業価値776,122713,591620,879684,298715,732608,158723,957596,912625,779676,586491,510549,313-
時価総額816,637757,841662,838747,577796,730693,285798,920692,978839,072889,879646,307693,494-
純有利子負債-44,250-41,959-63,279-80,998-85,127-74,963-96,066-129,343-213,293-173,170-154,797-144,181-
PER(会予)31.4倍29.1倍25.5倍26.7倍28.5倍24.8倍28.5倍13.6倍16.5倍17.4倍9.9倍--
PBR0.8倍0.7倍0.6倍0.7倍0.7倍0.6倍0.8倍0.7倍0.8倍0.9倍0.7倍0.7倍-
PER × PBR24.9倍21.6倍16.0倍18.9倍21.2倍15.4倍21.8倍9.5倍13.6倍15.3倍7.0倍--
EV/EBITDA(会予)7.9倍7.2倍6.3倍6.2倍6.5倍5.5倍6.6倍5.3倍5.6倍6.1倍4.6倍--
PSR(会予)0.6倍0.5倍0.5倍0.5倍0.6倍0.5倍0.6倍0.5倍0.6倍0.6倍0.5倍--
PCFR(会予)9.1倍8.4倍7.4倍8.2倍8.7倍7.6倍8.7倍6.2倍7.5倍8.0倍5.3倍12.4倍-
配当金--64.0円---64.0円---64.0円-0.0円
配当利回り2.4%2.5%2.9%2.6%2.4%2.8%2.4%2.8%2.3%2.2%2.8%2.6%-
配当性向--70.2%----54.2%---25.9%--
自己資本配当率1.4%1.4%1.4%1.8%1.7%1.8%1.9%1.9%1.9%1.8%2.0%1.9%-
ROE2.7%2.6%2.6%----6.8%6.8%6.8%7.6%7.4%-
純利益率(再掲)--1.9%3.0%2.5%2.4%-5.2%10.9%8.3%5.0%2.3%-
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1.7倍1.7倍1.7倍1.7倍1.6倍1.7倍1.8倍1.8倍1.7倍1.8倍1.9倍1.8倍-
実質ROE2.5%2.5%2.5%----6.4%6.4%6.2%6.7%6.5%-
ROIC2.6%2.5%2.5%2.9%2.8%3.0%3.1%2.2%2.2%2.2%2.3%2.2%-
ROA1.6%1.5%1.5%----3.9%3.9%3.9%4.0%4.0%-
β0.900.850.860.810.830.840.830.820.870.910.940.88-
βの決定係数(R2)0.510.430.460.420.450.500.490.500.480.510.550.54-
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193,987191,527242,781234,205239,416228,406268,046282,983366,635324,319373,013347,431-
売上債権337,604351,178354,241334,453330,748347,060351,450331,631318,151335,483330,798307,672-
棚卸資産141,613143,054137,547138,950138,603138,769133,070138,977136,083139,257134,279140,228-
有価証券------15,000---18,00018,000-
前払金-------------
繰延税金資産--19,713----------
貸倒引当金-1,494-1,425-1,690-1,573-1,412-1,354-1,515-1,371-1,321-1,351-1,361-1,044-
流動資産715,838724,264780,039753,058742,257750,872799,280797,281856,331835,617884,010840,395-
固定資産
建物・構築物203,026200,743566,445196,540195,031192,471549,251178,988169,658170,656520,307156,333-
機械・運搬具79,59177,115736,59678,12876,44971,588708,33065,77665,97467,767696,45966,767-
土地153,525153,710151,521151,219151,007151,707147,924147,108146,546145,975141,423141,431-
建設仮勘定13,02514,2137,1607,2527,53110,75711,76013,77415,58314,84316,42814,140-
有形固定資産485,974482,467474,397467,682463,299458,130441,120435,317426,673427,345409,367406,939-
のれん--4,241---2,489---1,187--
無形固定資産33,20632,52032,85332,08732,10931,88128,91428,50528,56528,60222,71623,307-
投資有価証券428,809458,887401,414431,832482,097382,351393,104410,024334,826376,468298,894342,660-
繰延税金資産--10,913---11,068------
貸倒引当金-3,614-3,696-3,632-3,556-2,508-2,511-2,315-2,285-2,256-2,197-2,286-2,250-
敷金および保証金-------------
投資その他の資産518,573551,317507,472537,805589,961488,732505,707521,951448,842487,693405,629450,347-
固定資産1,037,7531,066,3061,014,7241,037,5751,085,370978,744975,742985,775904,080943,641837,713880,594-
総資産1,753,5921,790,5701,794,7641,790,6341,827,6281,729,6171,775,0221,783,0571,760,4121,779,2591,721,7241,720,989-
 
負債
有利子負債合計149,737149,568179,502153,207154,289153,443171,980153,640153,342151,149218,216203,250-
仕入債務241,270253,798248,993247,106232,298249,948246,138248,413229,646242,003238,066229,541-
前受金-------------
未払法人税等--10,042---7,448-18,894-16,621--
繰延税金負債(固定)67,40177,25264,98375,62390,36961,64865,300------
負債683,137685,552692,213668,882663,019632,067728,400715,581693,468711,050753,149727,505-
 
純資産
資本金114,464114,464114,464114,464114,464114,464114,464114,464114,464114,464114,464114,464-
資本剰余金144,269144,269144,264144,174144,765144,765144,765144,766144,766145,018145,024145,024-
利益剰余金642,706651,267681,976682,416689,209688,045626,949635,304692,784694,745676,346674,758-
自己株式-62,897-62,907-62,908-62,909-62,892-62,895-62,898-62,899-66,175-97,262-122,911-122,912-
非支配株主持分48,13648,84848,95050,02150,12550,30450,45951,79651,63552,23652,79451,986-
純資産1,070,4541,105,0171,102,5501,121,7511,164,6081,097,5491,046,6221,067,4751,066,9431,068,209968,574993,484-
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-28,178-2,12845,39616,05926,44939,816-18,68525,594109,250126,719102,71912,198-
減価償却費29,145-61,070-29,084-59,080-26,711-54,474--
のれん償却額1,153-2,306-881-1,751-834-1,659--
減損損失0225,930-01,76414,921-0026,516--
受取利息及び受取配当金-3,551--5,840--2,811--5,255--3,029--5,586--
売上債権の増減額3,776--17,606-22,550-2,098-33,085-22,195--
棚卸資産の増減額-4,143--875--1,831-1,997--4,658--1,286--
仕入債務の増減額-7,282-5,899--14,848--1,912--13,734--9,011--
営業CF22,092-48,457-40,637-68,971-54,196-93,937--
投資CF
有価証券の取得-8080-1,2340-7320-2,4040-4000-1,0280-
有価証券の売却・償還8,023054,61602,819026,785056,197058,1120-
固定資産の購入-23,3410-42,9830-25,1970-47,3780-26,3320-49,7070-
固定資産の売却8,398019,64401,47506,942042,486046,1040-
貸付け-------------
貸付金の回収-------------
投資CF-1,266-23,074--142,710--146,909-207,657-191,057--
財務CF
短期借入金の純増減額-9,467-2,257--11,821--2,282--9,209--3,424--
長期借入れ2,650-2,690-2,000-2,500-1,100-2,700--
長期借入金の返済-2,103--4,076--2,231--4,142--1,368--2,521--
社債の発行--1,224-1,953-2,442-49,785-99,496--
社債の償還-120--240--2,145--2,290--50,145--51,490--
自己株式の取得-15,025--15,037--8--15--3,278--60,060--
自己株式の売却-------------
配当金の支払-9,853--19,524--9,663--19,324--9,659--19,283--
財務CF-38,929--42,771--26,430--32,196--28,029--41,280--
換算差額838-1,428--706--1,031--1,289--118--
その他
17.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q420.Q120.Q4E
設備投資額23,341059,557025,197041,103026,332057,1000-
研究開発費------33,786---33,603--
発行済株式総数301,568,064株301,564,295株301,563,746株301,563,254株301,822,112株301,820,889株301,819,601株301,819,149株300,634,903株289,977,301株280,881,002株280,880,658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--38,627人---38,051人---38,181人--
売上/従業員(千円)--36,561---36,832---36,717--
営利/従業員(千円)--1,201---1,311---1,474--