通期売上(百万円)
売上5y CAGR・予想:3.9 %
通期利益(百万円)
営利5y CAGR・予想:5.2 %
純利5y CAGR・予想:5.8 %
P/L
2017.32018.32019.32020.3
売上4,748,2605,041,9805,080,3535,200,000
前期比106.3%106.2%100.8%102.4%
売上原価--2,867,413-
売上総利益--2,212,940-
%--43.6%-
販管費--1,210,470-
営業利益912,976962,7931,013,7291,020,000
前期比109.6%105.5%105.3%100.6%
%19.2%19.1%20.0%19.6%
受取利息および受取配当金----
持分法による投資利益--4,780-
営業外収益1,7114,340--
支払利息----
持分法による投資損失----
営業外費用18,79011,985--
経常利益895,897955,1471,010,275-
固定資産売却益----
投資有価証券売却益----
特別利益----
固定資産売却損----
投資有価証券売却損----
減損損失----
特別損失----
税引前利益895,897955,1471,010,275-
法人税等253,282293,951309,149-
%28.3%30.8%30.6%-
当期純利益642,615661,196701,126-
非支配株主に帰属する当期純利益--83,457-
親会社株主に帰属する当期純利益546,658572,528617,669620,000
前期比110.6%104.7%107.9%100.4%
%11.5%11.4%12.2%11.9%
 
EBITDA1,458,1701,458,1701,509,6083,068,934
EPS222.4円236.2円261.1円267.0円
BPS1,446.1円1,544.8円1,737.0円-
期初会社予想
2017.32018.32019.32020.3
売上高(期初予)4,700,0004,950,0005,150,0005,200,000
対実績比101.0%101.9%98.6%-
営業利益(期初予)885,000950,0001,020,0001,020,000
対実績比103.2%101.3%99.4%-
純利益(期初予)540,000565,000620,000620,000
対実績比101.2%101.3%99.6%-
配当
ROEデュポン分解
β
マルチプル
2017.32018.32019.32020.3
企業価値8,011,8887,434,0206,745,545-
時価総額7,181,8466,585,7665,642,351-
純有利子負債830,042848,2541,103,194-
PER(会予)13.3倍11.7倍9.1倍-
PBR2.0倍1.8倍1.4倍-
PER × PBR26.9倍20.5倍12.5倍-
EV/EBITDA(会予)5.5倍5.0倍4.3倍-
PSR(会予)1.5倍1.3倍1.1倍-
PCFR(会予)6.6倍5.9倍4.8倍-
配当金85.0円90.0円105.0円110.0円
配当利回り2.9%3.1%3.8%-
配当性向38.2%38.2%37.8%-
自己資本配当率5.9%5.8%6.0%-
ROE15.4%15.3%15.0%-
純利益率(再掲)11.5%11.4%12.2%-
総資産回転率0.8回0.8回0.7回-
財務レバレッジ1.8倍1.7倍1.7倍-
実質ROE14.4%14.2%13.9%-
ROIC14.3%14.0%13.0%-
ROA8.7%8.9%8.6%-
β0.760.850.66-
βの決定係数(R2)0.330.330.25-
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226,607200,834204,597-
売上債権1,452,8101,624,4701,870,010-
棚卸資産77,656105,152108,798-
有価証券--41,963-
前払金----
繰延税金資産----
貸倒引当金----
流動資産1,966,0302,151,2502,432,498-
固定資産
建物・構築物----
機械・運搬具----
土地----
建設仮勘定----
有形固定資産--2,546,181-
のれん--1,486,532-
無形固定資産--946,837-
投資有価証券----
繰延税金資産--15,227-
貸倒引当金----
敷金および保証金----
投資その他の資産----
固定資産4,297,8004,423,3104,897,918-
総資産6,263,8306,574,5607,330,416-
 
負債
有利子負債合計1,056,6491,029,9761,294,828-
仕入債務119,259579,307570,194-
前受金----
未払法人税等--152,195-
繰延税金負債(固定)--100,680-
負債2,414,6902,443,3002,717,484-
 
純資産
資本金141,852141,852141,852-
資本剰余金--284,409-
利益剰余金3,354,1403,672,3404,144,133-
自己株式-237,014-338,254-383,728-
非支配株主持分294,710357,554429,440-
純資産3,849,1304,131,2604,612,932-
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--1,010,275-
減価償却費545,194546,815562,402-
のれん償却額--1,486,532-
減損損失----
受取利息及び受取配当金---3,571-
売上債権の増減額---271,723-
棚卸資産の増減額---1,544-
仕入債務の増減額--23,008-
営業CF1,161,0701,061,4101,029,607-
投資CF
有価証券の取得000-
有価証券の売却・償還000-
固定資産の購入00-602,138-
固定資産の売却000-
貸付け----
貸付金の回収----
投資CF-637,225-633,847-714,578-
財務CF
短期借入金の純増減額----
長期借入れ----
長期借入金の返済----
社債の発行----
社債の償還----
自己株式の取得---150,000-
自己株式の売却----
配当金の支払---227,700-
財務CF-485,784-453,168-310,951-
換算差額---314-
その他
2017.32018.32019.32020.3
設備投資額558,000561,000--
研究開発費15,38120,132--
発行済株式総数2,457,852,849株2,424,356,939株2,365,765,697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35,032人38,826人41,996人-
売上/従業員(千円)135,541135,541129,861-
営利/従業員(千円)26,06126,06124,798-
四半期売上(百万円)
売上5y CAGR・予想:3.9 %
四半期利益(百万円)
営利5y CAGR・予想:5.2 %
純利5y CAGR・予想:5.8 %
P/L
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
売上4,748,2601,198,6702,416,0703,760,0725,041,9801,221,7202,462,2703,771,6605,080,3531,246,1012,564,4573,902,5765,200,000
前期比106.3%25.2%50.9%79.2%106.2%24.2%48.8%74.8%100.8%24.5%50.5%76.8%102.4%
売上原価--------2,867,413680,3341,391,4472,120,834-
売上総利益--------2,212,940565,7671,173,0101,781,742-
%--------43.6%45.4%45.7%45.7%-
販管費--------1,210,470311,980625,345947,124-
営業利益912,976281,414542,536813,771962,793288,862561,192822,4811,013,729255,800553,407843,8691,020,000
前期比109.6%30.8%59.4%89.1%105.5%30.0%58.3%85.4%105.3%25.2%54.6%83.2%100.6%
%19.2%23.5%22.5%21.6%19.1%23.6%22.8%21.8%20.0%20.5%21.6%21.6%19.6%
受取利息および受取配当金-------------
持分法による投資利益--------4,7807652,3063,181-
営業外収益1,7111,7813,1894,4334,3402,3094,3596,351-----
支払利息-------------
持分法による投資損失-------------
営業外費用18,7902,6215,1707,66611,9852,6095,1847,514-----
経常利益895,897280,574540,555810,539955,147288,562560,367821,3181,010,275254,419550,195840,544-
固定資産売却益-------------
投資有価証券売却益-------------
特別利益-------------
固定資産売却損-------------
投資有価証券売却損-------------
減損損失-------------
特別損失-------------
税引前利益895,897280,574540,555810,539955,147288,562560,367821,3181,010,275254,419550,195840,544-
法人税等253,28286,731166,914250,257293,95188,567173,801253,275309,14978,166172,617263,544-
%28.3%30.9%30.9%30.9%30.8%30.7%31.0%30.8%30.6%30.7%31.4%31.4%-
当期純利益642,615193,843373,641560,282661,196199,995386,567568,044701,126176,253377,579577,000-
非支配株主に帰属する当期純利益--------83,45713,70030,03446,124-
親会社株主に帰属する当期純利益546,658173,474329,444490,558572,528178,666345,477505,771617,669162,553347,545530,876620,000
前期比110.6%31.7%60.3%89.7%104.7%31.2%60.3%88.3%107.9%26.3%56.3%85.9%100.4%
%11.5%14.5%13.6%13.0%11.4%14.6%14.0%13.4%12.2%13.0%13.6%13.6%11.9%
 
EBITDA1,458,1701,458,1701,458,1701,458,1701,458,1701,509,6081,509,6081,509,6081,509,6083,062,6633,062,6633,062,6633,068,934
EPS222.4円234.0円234.0円236.2円236.2円238.0円256.8円258.2円261.1円262.7円266.0円266.0円267.0円
BPS1,446.1円1,465.8円1,465.8円1,520.0円1,544.8円1,568.8円1,674.4円1,736.9円1,737.0円1,779.4円1,860.6円1,860.6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)4,700,0004,950,0004,950,0004,950,0004,950,0005,150,0005,150,0005,150,0005,150,0005,200,0005,200,0005,200,0005,200,000
対実績比101.0%24.2%48.8%76.0%101.9%23.7%47.8%73.2%98.6%24.0%49.3%75.0%-
営業利益(期初予)885,000950,000950,000950,000950,0001,020,0001,020,0001,020,0001,020,0001,020,0001,020,0001,020,0001,020,000
対実績比103.2%29.6%57.1%85.7%101.3%28.3%55.0%80.6%99.4%25.1%54.3%82.7%-
純利益(期初予)540,000565,000565,000565,000565,000620,000620,000620,000620,000620,000620,000620,000620,000
対実績比101.2%30.7%58.3%86.8%101.3%28.8%55.7%81.6%99.6%26.2%56.1%85.6%-
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8,011,8888,255,8078,236,2347,530,4957,434,0208,123,7838,518,8857,169,5516,745,5457,437,0637,665,2788,659,270-
時価総額7,181,8467,278,6737,259,1006,799,1076,585,7667,290,7807,548,8146,277,8865,642,3516,450,1086,560,8137,554,805-
純有利子負債830,042977,134977,134731,388848,254833,003970,071891,6651,103,194986,9551,104,4651,104,465-
PER(会予)13.3倍12.9倍12.8倍12.0倍11.7倍11.8倍12.2倍10.1倍9.1倍10.4倍10.6倍12.2倍-
PBR2.0倍2.0倍2.0倍1.8倍1.8倍1.9倍1.9倍1.5倍1.4倍1.5倍1.5倍1.7倍-
PER × PBR26.9倍26.1倍26.0倍22.2倍20.5倍22.7倍22.8倍15.3倍12.5倍16.0倍16.1倍21.3倍-
EV/EBITDA(会予)5.5倍5.5倍5.5倍5.0倍5.0倍5.2倍5.4倍4.6倍4.3倍2.4倍2.5倍2.8倍-
PSR(会予)1.5倍1.5倍1.5倍1.4倍1.3倍1.4倍1.5倍1.2倍1.1倍1.2倍1.3倍1.5倍-
PCFR(会予)6.6倍6.6倍6.5倍6.1倍5.9倍6.2倍6.5倍5.4倍4.8倍2.4倍2.5倍2.8倍-
配当金85.0円---90.0円---105.0円---110.0円
配当利回り2.9%2.9%2.9%3.0%3.1%3.0%2.9%3.4%3.8%3.8%3.7%3.2%-
配当性向38.2%38.2%38.2%38.2%38.2%37.8%37.8%37.8%37.8%40.0%40.0%40.0%-
自己資本配当率5.9%6.1%6.1%5.9%5.8%5.7%6.3%6.0%6.0%5.9%5.6%5.6%-
ROE15.4%16.0%16.0%15.5%15.3%15.2%15.3%14.9%15.0%14.8%14.3%14.3%-
純利益率(再掲)11.5%14.5%13.6%13.0%11.4%14.6%14.0%13.4%12.2%13.0%13.6%13.6%-
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0.7回0.7回0.7回0.5回0.5回-
財務レバレッジ1.8倍1.7倍1.7倍1.7倍1.7倍1.7倍1.7倍1.7倍1.7倍1.8倍2.1倍2.1倍-
実質ROE14.4%15.0%15.0%14.4%14.2%13.9%14.5%13.9%13.9%13.5%14.0%14.0%-
ROIC14.3%14.2%14.2%14.3%14.0%13.9%13.6%13.5%13.0%13.1%12.2%12.2%-
ROA8.7%9.4%9.4%9.1%8.9%8.7%9.1%8.8%8.6%8.4%6.7%6.7%-
β0.760.780.810.860.850.710.690.710.660.570.530.51-
βの決定係数(R2)0.330.310.330.330.330.260.260.270.250.190.180.18-
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226,607141,652275,370181,722200,834168,583186,685191,634204,597275,822365,604349,837-
売上債権1,452,8101,446,8401,446,8401,507,4401,624,4701,695,4001,684,5401,773,2101,870,0101,965,5542,029,7542,029,754-
棚卸資産77,65681,96381,96361,931105,15289,20784,75486,113108,79890,58875,32275,322-
有価証券--------41,96350,02450,58252,745-
前払金-------------
繰延税金資産-------------
貸倒引当金-------------
流動資産1,966,0301,870,8202,005,3002,090,4302,151,2502,114,3902,215,5402,336,7202,432,4982,791,4542,951,4903,021,279-
固定資産
建物・構築物-------------
機械・運搬具-------------
土地-------------
建設仮勘定-------------
有形固定資産--------2,546,1812,790,1902,769,7432,765,485-
のれん--------1,486,532551,910551,789551,812-
無形固定資産--------946,8371,021,4071,020,2941,015,958-
投資有価証券-------------
繰延税金資産--------15,2279,4608,1866,841-
貸倒引当金-------------
敷金および保証金-------------
投資その他の資産-------------
固定資産4,297,8004,252,0904,289,2904,311,7104,423,3104,656,7304,776,7904,820,2404,897,9186,185,2766,315,7976,376,081-
総資産6,263,8306,122,9106,294,6006,402,1406,574,5606,771,1306,992,3407,156,9607,330,4168,976,7299,267,2879,397,360-
 
負債
有利子負債合計1,056,6491,118,7861,118,7861,006,7581,029,9761,033,8371,138,6541,078,3501,294,8281,191,5521,470,0691,470,069-
仕入債務119,259438,027438,027523,713579,307610,726494,855563,412570,194671,969579,473579,473-
前受金-------------
未払法人税等--------152,19559,091147,01898,875-
繰延税金負債(固定)--------100,680109,736114,539118,392-
負債2,414,6902,266,6102,301,7302,320,6302,443,3002,370,8602,446,5702,636,7102,717,4844,359,2194,494,3224,614,277-
 
純資産
資本金141,852141,852141,852141,852141,852141,852141,852141,852141,852141,852141,852141,852-
資本剰余金--------284,409282,185282,972283,688-
利益剰余金3,354,1403,377,3703,533,3003,585,5703,672,3403,827,0703,993,9104,034,7204,144,1333,800,0913,986,9264,044,125-
自己株式-237,014-222,644-288,256-288,255-338,254-237,353-274,418-344,408-383,728-29,231-86,552-156,551-
非支配株主持分294,710270,073307,922336,403357,554373,644390,193411,031429,440433,744451,848468,600-
純資産3,849,1303,856,3003,992,8604,081,5104,131,2604,400,2604,545,7604,520,2504,612,9324,617,5104,772,9654,783,083-
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--------1,010,275254,419550,195840,544-
減価償却費545,194137,599274,451411,266546,815139,536277,665420,625562,402169,899341,283514,893-
のれん償却額--------1,486,532----
減損損失-------------
受取利息及び受取配当金---------3,571-1,532-2,275-3,444-
売上債権の増減額---------271,72332,035-69,577-146,074-
棚卸資産の増減額---------1,54410,35215,2814,340-
仕入債務の増減額--------23,008-67,209-66,698-44,172-
営業CF1,161,070179,246624,043760,1591,061,410195,945558,143719,3841,029,607134,557531,638855,443-
投資CF
有価証券の取得000000000000-
有価証券の売却・償還000000000000-
固定資産の購入00000000-602,138-186,479-311,904-447,855-
固定資産の売却000000000000-
貸付け-------------
貸付金の回収-------------
投資CF-637,225-124,184-262,751-404,140-633,847-173,215-404,312-571,354-714,578-159,995-274,251-424,351-
財務CF
短期借入金の純増減額-------------
長期借入れ-------------
長期借入金の返済-------------
社債の発行-------------
社債の償還-------------
自己株式の取得---------150,000-22,627-80,000-150,000-
自己株式の売却-------------
配当金の支払---------227,700-128,159-129,289-255,960-
財務CF-485,784-139,829-312,627-401,399-453,168-54,774-168,551-156,683-310,95197,797-95,070-285,499-
換算差額---------314-1,133-1,310-352-
その他
16.Q417.Q117.Q217.Q317.Q418.Q118.Q218.Q318.Q419.Q119.Q219.Q319.Q4
設備投資額558,000124,000246,000385,000561,000168,000306,000459,000-----
研究開発費15,3812,8415,87510,42020,1324,99410,53216,085-----
発行済株式総数2,457,852,849株2,446,612,649株2,446,612,649株2,424,356,279株2,424,356,939株2,405,404,223株2,404,846,697株2,392,487,197株2,365,765,697株2,351,050,672株2,322,411,548株2,322,411,548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35,032人---38,826人---41,996人----
売上/従業員(千円)135,541135,541135,541135,541135,541129,861129,861129,861129,861120,972120,972120,972-
営利/従業員(千円)26,06126,06126,06126,06126,06124,79824,79824,79824,79824,13924,13924,139-