A pulsimeter analyzes a pulse wave signal output by a pulse wave sensor worn on a part of the body while exercising, enables extraction of only the pulse wave component without being affected by movement of the body, and evaluates a detection state indicative of whether the pulse wave sensor is detecting the pulse. A pulse wave component extractor extracts a pulse wave component from the result of a time-frequency analysis of a pulse wave signal. A pulse rate calculator calculates the pulse rate per minute based on the pulse wave component extracted by the pulse wave component extractor. The pulse rate is then displayed. A detection state of the pulse wave sensor is also displayed by providing a detection state evaluator for determining the presence of a pulse wave component based on the result output by the pulse wave component extractor.