EM Systems（EMO）株式概要EMシステムズ株式会社は、その子会社とともに、日本国内において薬局、診療所、介護・福祉事業者向けの各種ITシステムを開発・販売している。 詳細EMO ファンダメンタル分析スノーフレーク・スコア評価3/6将来の成長2/6過去の実績1/6財務の健全性5/6配当金3/6報酬当社が推定した公正価値より14.8%で取引されている 収益は年間17.41%増加すると予測されています リスク分析6.25%の配当は、利益やフリーキャッシュフローによって十分にカバーされていない 財務結果に影響を与える大きな一時的項目 利益率(6.7%)は昨年より低い(11.5%) すべてのリスクチェックを見るEMO Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value€Current Price€2.683.5% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture029b2016201920222025202620282031Revenue JP¥29.2bEarnings JP¥2.0bAdvancedSet Fair ValueView all narrativesEM Systems Co., Ltd. 競合他社DocCheckSymbol: XTRA:AJ91Market cap: €67.0mMeVis Medical SolutionsSymbol: XTRA:M3VMarket cap: €41.9mCompuGroup Medical SE KGaASymbol: HMSE:COPMarket cap: €1.4bifa systemsSymbol: HMSE:IS8Market cap: €5.2m価格と性能株価の高値、安値、推移の概要EM Systems過去の株価現在の株価JP¥2.6852週高値JP¥4.5852週安値JP¥2.68ベータ0.271ヶ月の変化-23.43%3ヶ月変化-27.96%1年変化-40.71%3年間の変化-48.46%5年間の変化-56.77%IPOからの変化40.59%最新ニュースBoard Change • May 21Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Outside Director Hidenori Akabane was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Declared Dividend • May 21Dividend of JP¥5.00 announcedShareholders will receive a dividend of JP¥5.00. Ex-date: 29th June 2026 Payment date: 3rd September 2026 Dividend yield will be 187%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is not covered by earnings (184% earnings payout ratio) nor is it covered by cash flows (353% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 104% to bring the payout ratio under control. EPS is expected to grow by 62% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.お知らせ • Feb 14+ 2 more updatesEM Systems Co., Ltd. Announces Year-End Dividend for the Fiscal Year Ended December 31, 2025, Payable on March 30, 2026; Provides Dividend Guidance for Second Quarter-End 2026 and Full Year of Fiscal Year Ending December 2026EM Systems Co., Ltd. announced year-end dividend of JPY 22.00 per share for the fiscal year ended December 31, 2025 against JPY 26.00 per share a year ago. Dividend payable date (as planned) is March 30, 2026. The company provided dividend guidance for second quarter-end 2026 and full year of fiscal year ending December 2026. For the second quarter-end, the company expects to pay dividend of JPY 14.00 per share against JPY 17.00 per share a year ago. For the year, the company expects to pay year-end dividend of JPY 18.00 per share against JPY 22.00 per share a year ago.お知らせ • Feb 13EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026.お知らせ • Dec 27EM Systems Co., Ltd. to Report Fiscal Year 2025 Results on Feb 13, 2026EM Systems Co., Ltd. announced that they will report fiscal year 2025 results on Feb 13, 2026お知らせ • Sep 27EM Systems Co., Ltd. to Report Q3, 2025 Results on Nov 14, 2025EM Systems Co., Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025最新情報をもっと見るRecent updatesBoard Change • May 21Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Outside Director Hidenori Akabane was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Declared Dividend • May 21Dividend of JP¥5.00 announcedShareholders will receive a dividend of JP¥5.00. Ex-date: 29th June 2026 Payment date: 3rd September 2026 Dividend yield will be 187%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is not covered by earnings (184% earnings payout ratio) nor is it covered by cash flows (353% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 104% to bring the payout ratio under control. EPS is expected to grow by 62% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.お知らせ • Feb 14+ 2 more updatesEM Systems Co., Ltd. Announces Year-End Dividend for the Fiscal Year Ended December 31, 2025, Payable on March 30, 2026; Provides Dividend Guidance for Second Quarter-End 2026 and Full Year of Fiscal Year Ending December 2026EM Systems Co., Ltd. announced year-end dividend of JPY 22.00 per share for the fiscal year ended December 31, 2025 against JPY 26.00 per share a year ago. Dividend payable date (as planned) is March 30, 2026. The company provided dividend guidance for second quarter-end 2026 and full year of fiscal year ending December 2026. For the second quarter-end, the company expects to pay dividend of JPY 14.00 per share against JPY 17.00 per share a year ago. For the year, the company expects to pay year-end dividend of JPY 18.00 per share against JPY 22.00 per share a year ago.お知らせ • Feb 13EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026.お知らせ • Dec 27EM Systems Co., Ltd. to Report Fiscal Year 2025 Results on Feb 13, 2026EM Systems Co., Ltd. announced that they will report fiscal year 2025 results on Feb 13, 2026お知らせ • Sep 27EM Systems Co., Ltd. to Report Q3, 2025 Results on Nov 14, 2025EM Systems Co., Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025お知らせ • Sep 12EM Systems Co., Ltd. (TSE:4820) agreed to acquire precal Inc from Yoshiki Osuga and others.EM Systems Co., Ltd. (TSE:4820) agreed to acquire precal Inc from Yoshiki Osuga and others on September 11, 2025. EM Systems Co., Ltd. will acquire 0.02 million shares in precal Inc. For the period ending June 30, 2025, precal Inc reported total revenue of ¥14 million, operating loss of ¥169 million and net loss of ¥157 million. As of June 30, 2025, precal Inc reported total assets of ¥176 million and total common equity of ¥140 million. The expected completion of the transaction is September 30, 2025.お知らせ • May 31EM Systems Co., Ltd. to Report Q2, 2025 Results on Aug 08, 2025EM Systems Co., Ltd. announced that they will report Q2, 2025 results on Aug 08, 2025お知らせ • Mar 27EM Systems Co., Ltd. to Report Q1, 2025 Results on May 14, 2025EM Systems Co., Ltd. announced that they will report Q1, 2025 results on May 14, 2025お知らせ • Feb 14EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2025EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2025.お知らせ • Dec 03EM Systems Co., Ltd. to Report Fiscal Year 2024 Results on Feb 14, 2025EM Systems Co., Ltd. announced that they will report fiscal year 2024 results on Feb 14, 2025Valuation Update With 7 Day Price Move • Nov 16Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €3.80, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Healthcare Services industry in Europe. Total loss to shareholders of 30% over the past three years.お知らせ • Oct 06EM Systems Co., Ltd. to Report Q3, 2024 Results on Nov 14, 2024EM Systems Co., Ltd. announced that they will report Q3, 2024 results on Nov 14, 2024Reported Earnings • Aug 13Second quarter 2024 earnings released: EPS: JP¥5.89 (vs JP¥3.93 in 2Q 2023)Second quarter 2024 results: EPS: JP¥5.89 (up from JP¥3.93 in 2Q 2023). Revenue: JP¥5.42b (up 9.7% from 2Q 2023). Net income: JP¥414.0m (up 49% from 2Q 2023). Profit margin: 7.6% (up from 5.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe.Upcoming Dividend • Jun 20Upcoming dividend of JP¥7.00 per shareEligible shareholders must have bought the stock before 27 June 2024. Payment date: 04 September 2024. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.6%).お知らせ • Jun 02EM Systems Co., Ltd. to Report Q2, 2024 Results on Aug 09, 2024EM Systems Co., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024Reported Earnings • May 17First quarter 2024 earnings released: EPS: JP¥8.09 (vs JP¥7.23 in 1Q 2023)First quarter 2024 results: EPS: JP¥8.09 (up from JP¥7.23 in 1Q 2023). Revenue: JP¥5.57b (up 14% from 1Q 2023). Net income: JP¥571.0m (up 12% from 1Q 2023). Profit margin: 10% (in line with 1Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe.お知らせ • Apr 03EM Systems Co., Ltd. to Report Q1, 2024 Results on May 14, 2024EM Systems Co., Ltd. announced that they will report Q1, 2024 results on May 14, 2024Buy Or Sell Opportunity • Mar 26Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.2% to €4.22. The fair value is estimated to be €5.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 3.9%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.お知らせ • Feb 16EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2024EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2024.Reported Earnings • Feb 16Full year 2023 earnings released: EPS: JP¥27.76 (vs JP¥26.74 in FY 2022)Full year 2023 results: EPS: JP¥27.76 (up from JP¥26.74 in FY 2022). Revenue: JP¥20.4b (up 20% from FY 2022). Net income: JP¥1.96b (up 3.6% from FY 2022). Profit margin: 9.6% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.お知らせ • Feb 14EM Systems Co., Ltd. (TSE:4820) announces an Equity Buyback for 1,600,000 shares, representing 2.26% for ¥1,000 million.EM Systems Co., Ltd. (TSE:4820) announces a share repurchase program. Under the program, the company will repurchase up to 1,600,000 shares, representing 2.26% of its issued share capital, for ¥1,000 million. The purpose of the program is to implement flexible capital policies in response to changes in the business environment, improve capital efficiency, and strengthen shareholder returns. The program will continue through December 30, 2024. As of December 31, 2023, the company had 70,696,151 issued shares (excluding treasury stock) and 3,818,649 treasury shares.Upcoming Dividend • Dec 21Upcoming dividend of JP¥7.00 per share at 2.2% yieldEligible shareholders must have bought the stock before 28 December 2023. Payment date: 25 March 2024. Payout ratio is a comfortable 66% and the cash payout ratio is 90%. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.5%).お知らせ • Dec 15EM Systems Co., Ltd. to Report Fiscal Year 2023 Results on Feb 14, 2024EM Systems Co., Ltd. announced that they will report fiscal year 2023 results on Feb 14, 2024Reported Earnings • Nov 13Third quarter 2023 earnings released: EPS: JP¥8.03 (vs JP¥7.86 in 3Q 2022)Third quarter 2023 results: EPS: JP¥8.03 (up from JP¥7.86 in 3Q 2022). Revenue: JP¥5.38b (up 24% from 3Q 2022). Net income: JP¥568.0m (up 2.3% from 3Q 2022). Profit margin: 11% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.お知らせ • Sep 28EM Systems Co., Ltd. to Report Q3, 2023 Results on Nov 10, 2023EM Systems Co., Ltd. announced that they will report Q3, 2023 results on Nov 10, 2023New Risk • Aug 10New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.6% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (8.6% net profit margin).Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: JP¥3.93 (vs JP¥7.43 in 2Q 2022)Second quarter 2023 results: EPS: JP¥3.93 (down from JP¥7.43 in 2Q 2022). Revenue: JP¥4.94b (up 18% from 2Q 2022). Net income: JP¥278.0m (down 47% from 2Q 2022). Profit margin: 5.6% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Healthcare Services industry in Europe are expected to grow by 7.7%. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Upcoming Dividend • Jun 22Upcoming dividend of JP¥5.00 per share at 1.5% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 04 September 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.3%).お知らせ • May 28EM Systems Co., Ltd. to Report Q2, 2023 Results on Aug 09, 2023EM Systems Co., Ltd. announced that they will report Q2, 2023 results on Aug 09, 2023Reported Earnings • May 14First quarter 2023 earnings released: EPS: JP¥7.23 (vs JP¥7.92 in 1Q 2022)First quarter 2023 results: EPS: JP¥7.23 (down from JP¥7.92 in 1Q 2022). Revenue: JP¥4.88b (up 22% from 1Q 2022). Net income: JP¥511.0m (down 9.2% from 1Q 2022). Profit margin: 11% (down from 14% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 8.9% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 28Full year 2022 earnings released: EPS: JP¥26.74 (vs JP¥25.72 in FY 2021)Full year 2022 results: EPS: JP¥26.74 (up from JP¥25.72 in FY 2021). Revenue: JP¥16.9b (up 17% from FY 2021). Net income: JP¥1.89b (up 3.5% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Reported Earnings • Feb 16Full year 2022 earnings released: EPS: JP¥26.74 (vs JP¥25.72 in FY 2021)Full year 2022 results: EPS: JP¥26.74 (up from JP¥25.72 in FY 2021). Revenue: JP¥16.9b (up 17% from FY 2021). Net income: JP¥1.89b (up 3.5% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 9.7% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.Buying Opportunity • Feb 14Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 3.1%. The fair value is estimated to be €7.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 3.2% in 2 years. Earnings is forecast to grow by 24% in the next 2 years.Upcoming Dividend • Dec 22Upcoming dividend of JP¥7.00 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 22 March 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (5.1%). In line with average of industry peers (1.4%).お知らせ • Dec 06EM Systems Co., Ltd. to Report Fiscal Year 2022 Results on Feb 14, 2023EM Systems Co., Ltd. announced that they will report fiscal year 2022 results on Feb 14, 2023Board Change • Nov 16Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent External Director Shinobu Okamoto was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Reported Earnings • Nov 12Third quarter 2022 earnings released: EPS: JP¥7.86 (vs JP¥8.12 in 3Q 2021)Third quarter 2022 results: EPS: JP¥7.86 (down from JP¥8.12 in 3Q 2021). Revenue: JP¥4.33b (up 6.8% from 3Q 2021). Net income: JP¥555.0m (down 4.0% from 3Q 2021). Profit margin: 13% (down from 14% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Sep 07Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €6.05, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 33x in the Healthcare Services industry in Europe. Total loss to shareholders of 21% over the past three years.お知らせ • Aug 31EM Systems Co., Ltd. to Report Q3, 2022 Results on Nov 10, 2022EM Systems Co., Ltd. announced that they will report Q3, 2022 results on Nov 10, 2022Reported Earnings • Aug 11Second quarter 2022 earnings releasedSecond quarter 2022 results: EPS: JP¥7.43. Revenue: JP¥4.18b (flat on 2Q 2021). Net income: JP¥526.0m (up JP¥526.0m from 2Q 2021). Profit margin: 13% (up from null in 2Q 2021). Over the next year, revenue is forecast to grow 4.2%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.お知らせ • Jun 23EM Systems Co., Ltd. to Report Q2, 2022 Results on Aug 09, 2022EM Systems Co., Ltd. announced that they will report Q2, 2022 results on Aug 09, 2022Upcoming Dividend • Jun 22Upcoming dividend of JP¥4.00 per shareEligible shareholders must have bought the stock before 29 June 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (1.4%).Reported Earnings • May 16First quarter 2022 earnings releasedFirst quarter 2022 results: EPS: JP¥7.92. Revenue: JP¥3.99b (flat on 1Q 2021). Net income: JP¥563.0m (up JP¥563.0m from 1Q 2021). Profit margin: 14% (up from null in 1Q 2021). Over the next year, revenue is forecast to grow 3.6%, compared to a 24% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year and the company’s share price has also increased by 2% per year.Board Change • Apr 27Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent External Director Shinobu Okamoto was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.お知らせ • Apr 08EM Systems Co., Ltd. to Report Q1, 2022 Results on May 13, 2022EM Systems Co., Ltd. announced that they will report Q1, 2022 results on May 13, 2022お知らせ • Feb 12EM Systems Co., Ltd., Annual General Meeting, Mar 18, 2022EM Systems Co., Ltd., Annual General Meeting, Mar 18, 2022.Reported Earnings • Feb 10Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: JP¥25.72 (up from JP¥18.07 in FY 2020). Revenue: JP¥14.4b (up 7.9% from FY 2020). Net income: JP¥1.83b (up 42% from FY 2020). Profit margin: 13% (up from 9.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 2.5%, compared to a 44% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.お知らせ • Feb 10EM Systems Co., Ltd. (TSE:4820) announces an Equity Buyback for 900,000 shares, representing 1.26% for ¥500 million.EM Systems Co., Ltd. (TSE:4820) announces a share repurchase program. Under the program, the company will repurchase up to 900,000 shares, representing 1.26% of its issued share capital (excluding treasury stock), for a total purchase price of ¥500 million. The purpose of the program is to improve capital efficiency and agile capital policy in response to changes in the business environment. The program will continue through August 31, 2022. As of December 31, 2021, the company had 71,179,183 issued shares (excluding treasury stock) and 3,335,617 treasury shares.Upcoming Dividend • Dec 22Upcoming dividend of JP¥6.00 per shareEligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 March 2022. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (1.0%).お知らせ • Dec 15EM Systems Co., Ltd. (TSE:4820) agreed to acquire additional 28.83% stake in Good Cycle System Inc. for ¥460 million.EM Systems Co., Ltd. (TSE:4820) agreed to acquire additional 28.85% stake in Good Cycle System Inc. for ¥460 million on December 13, 2021. Share transfer agreement is expected to be entered between December 13, 2021 to December 29, 2021. The transaction is expected to close on January 5, 2021.お知らせ • Mar 21EM Systems Co., Ltd. to Report Q1, 2021 Results on May 14, 2021EM Systems Co., Ltd. announced that they will report Q1, 2021 results on May 14, 2021Is New 90 Day High Low • Feb 26New 90-day low: €6.35The company is down 4.0% from its price of €6.60 on 27 November 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Healthcare Services industry, which is down 8.0% over the same period.Reported Earnings • Feb 14Third quarter 2021 earnings released: EPS JP¥3.21 (vs JP¥4.37 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥3.34b (up 3.5% from 3Q 2020). Net income: JP¥260.0m (down 16% from 3Q 2020). Profit margin: 7.8% (down from 9.6% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.お知らせ • Feb 12EM Systems Co., Ltd., Annual General Meeting, Mar 17, 2021EM Systems Co., Ltd., Annual General Meeting, Mar 17, 2021.お知らせ • Jan 31EM Systems Co., Ltd. (TSE:4820) acquired minority stake in NHOSA Corporation from CLSA Sunrise Capital III managed by CLSA Capital Partners.EM Systems Co., Ltd. (TSE:4820) acquired minority stake in NHOSA Corporation from CLSA Sunrise Capital III managed by CLSA Capital Partners on January 29, 2021. Sunrise III will continue to retain a majority stake following the transaction and there will be no material changes to NHOSA’s management team, company name and business operations. EM Systems Co., Ltd. (TSE:4820) completed the acquisition of minority stake in NHOSA Corporation from CLSA Sunrise Capital III managed by CLSA Capital Partners on January 29, 2021.Is New 90 Day High Low • Jan 13New 90-day high: €7.65The company is up 14% from its price of €6.70 on 15 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare Services industry, which is up 4.0% over the same period.Is New 90 Day High Low • Dec 29New 90-day high: €7.30The company is up 7.0% from its price of €6.80 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Healthcare Services industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.37 per share.お知らせ • Dec 05EM Systems Co., Ltd. to Report Fiscal Year 2020 Results on Feb 10, 2021EM Systems Co., Ltd. announced that they will report fiscal year 2020 results on Feb 10, 2021Reported Earnings • Nov 14Second quarter 2021 earnings released: EPS JP¥7.11The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥3.40b (down 11% from 2Q 2020). Net income: JP¥505.0m (up 29% from 2Q 2020). Profit margin: 15% (up from 10% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.Is New 90 Day High Low • Oct 21New 90-day low: €6.35The company is down 14% from its price of €7.40 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare Services industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.83 per share.お知らせ • Aug 30EM Systems Co., Ltd. to Report Q2, 2021 Results on Nov 11, 2020EM Systems Co., Ltd. announced that they will report Q2, 2021 results on Nov 11, 2020お知らせ • Jul 05EM Systems Co., Ltd. to Report Q1, 2021 Results on Aug 12, 2020EM Systems Co., Ltd. announced that they will report Q1, 2021 results on Aug 12, 2020株主還元EMODE Healthcare ServicesDE 市場7D-5.6%-0.5%3.2%1Y-40.7%16.6%2.5%株主還元を見る業界別リターン: EMO過去 1 年間で16.6 % の収益を上げたGerman Healthcare Services業界を下回りました。リターン対市場: EMOは、過去 1 年間で2.5 % のリターンを上げたGerman市場を下回りました。価格変動Is EMO's price volatile compared to industry and market?EMO volatilityEMO Average Weekly Movement5.3%Healthcare Services Industry Average Movement5.9%Market Average Movement6.1%10% most volatile stocks in DE Market13.3%10% least volatile stocks in DE Market2.7%安定した株価: EMO 、 German市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: EMOの 週次ボラティリティ ( 5% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1980858Hiromasa Kunimitsuwww.emsystems.co.jp株式会社イーエムシステムズは、子会社とともに、日本国内において、薬局、診療所、介護・福祉事業者向けの各種ITシステムの開発・販売を行っている。薬局システム事業」「医療システム事業」「介護・福祉システム事業」「その他事業」を展開。薬局向けITシステム（レセプトコンピューター、電子薬歴システムなど）、診療所向けITシステム（医事会計システム、電子カルテシステムなど）、介護・福祉事業者向け事務処理システムなどを開発・販売している。また、インターネットを利用した調剤支援システムの提供や薬局の運営、統計情報を利用した業務・経営支援も行っている。株式会社EMシステムズは1980年に設立され、大阪に本社を置く。もっと見るEM Systems Co., Ltd. 基礎のまとめEM Systems の収益と売上を時価総額と比較するとどうか。EMO 基礎統計学時価総額€191.86m収益（TTM）€7.95m売上高(TTM)€119.00m24.1xPER（株価収益率1.6xP/SレシオEMO は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計EMO 損益計算書（TTM）収益JP¥21.98b売上原価JP¥11.57b売上総利益JP¥10.41bその他の費用JP¥8.94b収益JP¥1.47b直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）21.21グロス・マージン47.36%純利益率6.68%有利子負債／自己資本比率3.8%EMO の長期的なパフォーマンスは？過去の実績と比較を見る配当金6.3%現在の配当利回り184%配当性向EMO 配当は確実ですか？EMO 配当履歴とベンチマークを見るEMO 、いつまでに購入すれば配当金を受け取れますか？EM Systems 配当日配当落ち日Jun 29 2026配当支払日Sep 03 2026配当落ちまでの日数35 days配当支払日までの日数101 daysEMO 配当は確実ですか？EMO 配当履歴とベンチマークを見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/24 12:22終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋EM Systems Co., Ltd. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。4 アナリスト機関Masatoshi NagataIchiyoshi Research Institute Inc.Shigekazu IshidaMarusan Securities Co. Ltd.Shigeo MutoSMBC NIKKO1 その他のアナリストを表示
Board Change • May 21Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Outside Director Hidenori Akabane was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Declared Dividend • May 21Dividend of JP¥5.00 announcedShareholders will receive a dividend of JP¥5.00. Ex-date: 29th June 2026 Payment date: 3rd September 2026 Dividend yield will be 187%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is not covered by earnings (184% earnings payout ratio) nor is it covered by cash flows (353% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 104% to bring the payout ratio under control. EPS is expected to grow by 62% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
お知らせ • Feb 14+ 2 more updatesEM Systems Co., Ltd. Announces Year-End Dividend for the Fiscal Year Ended December 31, 2025, Payable on March 30, 2026; Provides Dividend Guidance for Second Quarter-End 2026 and Full Year of Fiscal Year Ending December 2026EM Systems Co., Ltd. announced year-end dividend of JPY 22.00 per share for the fiscal year ended December 31, 2025 against JPY 26.00 per share a year ago. Dividend payable date (as planned) is March 30, 2026. The company provided dividend guidance for second quarter-end 2026 and full year of fiscal year ending December 2026. For the second quarter-end, the company expects to pay dividend of JPY 14.00 per share against JPY 17.00 per share a year ago. For the year, the company expects to pay year-end dividend of JPY 18.00 per share against JPY 22.00 per share a year ago.
お知らせ • Feb 13EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026.
お知らせ • Dec 27EM Systems Co., Ltd. to Report Fiscal Year 2025 Results on Feb 13, 2026EM Systems Co., Ltd. announced that they will report fiscal year 2025 results on Feb 13, 2026
お知らせ • Sep 27EM Systems Co., Ltd. to Report Q3, 2025 Results on Nov 14, 2025EM Systems Co., Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025
Board Change • May 21Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Outside Director Hidenori Akabane was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Declared Dividend • May 21Dividend of JP¥5.00 announcedShareholders will receive a dividend of JP¥5.00. Ex-date: 29th June 2026 Payment date: 3rd September 2026 Dividend yield will be 187%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is not covered by earnings (184% earnings payout ratio) nor is it covered by cash flows (353% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 104% to bring the payout ratio under control. EPS is expected to grow by 62% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
お知らせ • Feb 14+ 2 more updatesEM Systems Co., Ltd. Announces Year-End Dividend for the Fiscal Year Ended December 31, 2025, Payable on March 30, 2026; Provides Dividend Guidance for Second Quarter-End 2026 and Full Year of Fiscal Year Ending December 2026EM Systems Co., Ltd. announced year-end dividend of JPY 22.00 per share for the fiscal year ended December 31, 2025 against JPY 26.00 per share a year ago. Dividend payable date (as planned) is March 30, 2026. The company provided dividend guidance for second quarter-end 2026 and full year of fiscal year ending December 2026. For the second quarter-end, the company expects to pay dividend of JPY 14.00 per share against JPY 17.00 per share a year ago. For the year, the company expects to pay year-end dividend of JPY 18.00 per share against JPY 22.00 per share a year ago.
お知らせ • Feb 13EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026.
お知らせ • Dec 27EM Systems Co., Ltd. to Report Fiscal Year 2025 Results on Feb 13, 2026EM Systems Co., Ltd. announced that they will report fiscal year 2025 results on Feb 13, 2026
お知らせ • Sep 27EM Systems Co., Ltd. to Report Q3, 2025 Results on Nov 14, 2025EM Systems Co., Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025
お知らせ • Sep 12EM Systems Co., Ltd. (TSE:4820) agreed to acquire precal Inc from Yoshiki Osuga and others.EM Systems Co., Ltd. (TSE:4820) agreed to acquire precal Inc from Yoshiki Osuga and others on September 11, 2025. EM Systems Co., Ltd. will acquire 0.02 million shares in precal Inc. For the period ending June 30, 2025, precal Inc reported total revenue of ¥14 million, operating loss of ¥169 million and net loss of ¥157 million. As of June 30, 2025, precal Inc reported total assets of ¥176 million and total common equity of ¥140 million. The expected completion of the transaction is September 30, 2025.
お知らせ • May 31EM Systems Co., Ltd. to Report Q2, 2025 Results on Aug 08, 2025EM Systems Co., Ltd. announced that they will report Q2, 2025 results on Aug 08, 2025
お知らせ • Mar 27EM Systems Co., Ltd. to Report Q1, 2025 Results on May 14, 2025EM Systems Co., Ltd. announced that they will report Q1, 2025 results on May 14, 2025
お知らせ • Feb 14EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2025EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2025.
お知らせ • Dec 03EM Systems Co., Ltd. to Report Fiscal Year 2024 Results on Feb 14, 2025EM Systems Co., Ltd. announced that they will report fiscal year 2024 results on Feb 14, 2025
Valuation Update With 7 Day Price Move • Nov 16Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €3.80, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Healthcare Services industry in Europe. Total loss to shareholders of 30% over the past three years.
お知らせ • Oct 06EM Systems Co., Ltd. to Report Q3, 2024 Results on Nov 14, 2024EM Systems Co., Ltd. announced that they will report Q3, 2024 results on Nov 14, 2024
Reported Earnings • Aug 13Second quarter 2024 earnings released: EPS: JP¥5.89 (vs JP¥3.93 in 2Q 2023)Second quarter 2024 results: EPS: JP¥5.89 (up from JP¥3.93 in 2Q 2023). Revenue: JP¥5.42b (up 9.7% from 2Q 2023). Net income: JP¥414.0m (up 49% from 2Q 2023). Profit margin: 7.6% (up from 5.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe.
Upcoming Dividend • Jun 20Upcoming dividend of JP¥7.00 per shareEligible shareholders must have bought the stock before 27 June 2024. Payment date: 04 September 2024. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.6%).
お知らせ • Jun 02EM Systems Co., Ltd. to Report Q2, 2024 Results on Aug 09, 2024EM Systems Co., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024
Reported Earnings • May 17First quarter 2024 earnings released: EPS: JP¥8.09 (vs JP¥7.23 in 1Q 2023)First quarter 2024 results: EPS: JP¥8.09 (up from JP¥7.23 in 1Q 2023). Revenue: JP¥5.57b (up 14% from 1Q 2023). Net income: JP¥571.0m (up 12% from 1Q 2023). Profit margin: 10% (in line with 1Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe.
お知らせ • Apr 03EM Systems Co., Ltd. to Report Q1, 2024 Results on May 14, 2024EM Systems Co., Ltd. announced that they will report Q1, 2024 results on May 14, 2024
Buy Or Sell Opportunity • Mar 26Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.2% to €4.22. The fair value is estimated to be €5.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 3.9%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.
お知らせ • Feb 16EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2024EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2024.
Reported Earnings • Feb 16Full year 2023 earnings released: EPS: JP¥27.76 (vs JP¥26.74 in FY 2022)Full year 2023 results: EPS: JP¥27.76 (up from JP¥26.74 in FY 2022). Revenue: JP¥20.4b (up 20% from FY 2022). Net income: JP¥1.96b (up 3.6% from FY 2022). Profit margin: 9.6% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
お知らせ • Feb 14EM Systems Co., Ltd. (TSE:4820) announces an Equity Buyback for 1,600,000 shares, representing 2.26% for ¥1,000 million.EM Systems Co., Ltd. (TSE:4820) announces a share repurchase program. Under the program, the company will repurchase up to 1,600,000 shares, representing 2.26% of its issued share capital, for ¥1,000 million. The purpose of the program is to implement flexible capital policies in response to changes in the business environment, improve capital efficiency, and strengthen shareholder returns. The program will continue through December 30, 2024. As of December 31, 2023, the company had 70,696,151 issued shares (excluding treasury stock) and 3,818,649 treasury shares.
Upcoming Dividend • Dec 21Upcoming dividend of JP¥7.00 per share at 2.2% yieldEligible shareholders must have bought the stock before 28 December 2023. Payment date: 25 March 2024. Payout ratio is a comfortable 66% and the cash payout ratio is 90%. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.5%).
お知らせ • Dec 15EM Systems Co., Ltd. to Report Fiscal Year 2023 Results on Feb 14, 2024EM Systems Co., Ltd. announced that they will report fiscal year 2023 results on Feb 14, 2024
Reported Earnings • Nov 13Third quarter 2023 earnings released: EPS: JP¥8.03 (vs JP¥7.86 in 3Q 2022)Third quarter 2023 results: EPS: JP¥8.03 (up from JP¥7.86 in 3Q 2022). Revenue: JP¥5.38b (up 24% from 3Q 2022). Net income: JP¥568.0m (up 2.3% from 3Q 2022). Profit margin: 11% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
お知らせ • Sep 28EM Systems Co., Ltd. to Report Q3, 2023 Results on Nov 10, 2023EM Systems Co., Ltd. announced that they will report Q3, 2023 results on Nov 10, 2023
New Risk • Aug 10New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.6% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (8.6% net profit margin).
Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: JP¥3.93 (vs JP¥7.43 in 2Q 2022)Second quarter 2023 results: EPS: JP¥3.93 (down from JP¥7.43 in 2Q 2022). Revenue: JP¥4.94b (up 18% from 2Q 2022). Net income: JP¥278.0m (down 47% from 2Q 2022). Profit margin: 5.6% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Healthcare Services industry in Europe are expected to grow by 7.7%. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Jun 22Upcoming dividend of JP¥5.00 per share at 1.5% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 04 September 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.3%).
お知らせ • May 28EM Systems Co., Ltd. to Report Q2, 2023 Results on Aug 09, 2023EM Systems Co., Ltd. announced that they will report Q2, 2023 results on Aug 09, 2023
Reported Earnings • May 14First quarter 2023 earnings released: EPS: JP¥7.23 (vs JP¥7.92 in 1Q 2022)First quarter 2023 results: EPS: JP¥7.23 (down from JP¥7.92 in 1Q 2022). Revenue: JP¥4.88b (up 22% from 1Q 2022). Net income: JP¥511.0m (down 9.2% from 1Q 2022). Profit margin: 11% (down from 14% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 8.9% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 28Full year 2022 earnings released: EPS: JP¥26.74 (vs JP¥25.72 in FY 2021)Full year 2022 results: EPS: JP¥26.74 (up from JP¥25.72 in FY 2021). Revenue: JP¥16.9b (up 17% from FY 2021). Net income: JP¥1.89b (up 3.5% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Reported Earnings • Feb 16Full year 2022 earnings released: EPS: JP¥26.74 (vs JP¥25.72 in FY 2021)Full year 2022 results: EPS: JP¥26.74 (up from JP¥25.72 in FY 2021). Revenue: JP¥16.9b (up 17% from FY 2021). Net income: JP¥1.89b (up 3.5% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 9.7% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
Buying Opportunity • Feb 14Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 3.1%. The fair value is estimated to be €7.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 3.2% in 2 years. Earnings is forecast to grow by 24% in the next 2 years.
Upcoming Dividend • Dec 22Upcoming dividend of JP¥7.00 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 22 March 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (5.1%). In line with average of industry peers (1.4%).
お知らせ • Dec 06EM Systems Co., Ltd. to Report Fiscal Year 2022 Results on Feb 14, 2023EM Systems Co., Ltd. announced that they will report fiscal year 2022 results on Feb 14, 2023
Board Change • Nov 16Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent External Director Shinobu Okamoto was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Reported Earnings • Nov 12Third quarter 2022 earnings released: EPS: JP¥7.86 (vs JP¥8.12 in 3Q 2021)Third quarter 2022 results: EPS: JP¥7.86 (down from JP¥8.12 in 3Q 2021). Revenue: JP¥4.33b (up 6.8% from 3Q 2021). Net income: JP¥555.0m (down 4.0% from 3Q 2021). Profit margin: 13% (down from 14% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Sep 07Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €6.05, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 33x in the Healthcare Services industry in Europe. Total loss to shareholders of 21% over the past three years.
お知らせ • Aug 31EM Systems Co., Ltd. to Report Q3, 2022 Results on Nov 10, 2022EM Systems Co., Ltd. announced that they will report Q3, 2022 results on Nov 10, 2022
Reported Earnings • Aug 11Second quarter 2022 earnings releasedSecond quarter 2022 results: EPS: JP¥7.43. Revenue: JP¥4.18b (flat on 2Q 2021). Net income: JP¥526.0m (up JP¥526.0m from 2Q 2021). Profit margin: 13% (up from null in 2Q 2021). Over the next year, revenue is forecast to grow 4.2%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
お知らせ • Jun 23EM Systems Co., Ltd. to Report Q2, 2022 Results on Aug 09, 2022EM Systems Co., Ltd. announced that they will report Q2, 2022 results on Aug 09, 2022
Upcoming Dividend • Jun 22Upcoming dividend of JP¥4.00 per shareEligible shareholders must have bought the stock before 29 June 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (1.4%).
Reported Earnings • May 16First quarter 2022 earnings releasedFirst quarter 2022 results: EPS: JP¥7.92. Revenue: JP¥3.99b (flat on 1Q 2021). Net income: JP¥563.0m (up JP¥563.0m from 1Q 2021). Profit margin: 14% (up from null in 1Q 2021). Over the next year, revenue is forecast to grow 3.6%, compared to a 24% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year and the company’s share price has also increased by 2% per year.
Board Change • Apr 27Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent External Director Shinobu Okamoto was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
お知らせ • Apr 08EM Systems Co., Ltd. to Report Q1, 2022 Results on May 13, 2022EM Systems Co., Ltd. announced that they will report Q1, 2022 results on May 13, 2022
お知らせ • Feb 12EM Systems Co., Ltd., Annual General Meeting, Mar 18, 2022EM Systems Co., Ltd., Annual General Meeting, Mar 18, 2022.
Reported Earnings • Feb 10Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: JP¥25.72 (up from JP¥18.07 in FY 2020). Revenue: JP¥14.4b (up 7.9% from FY 2020). Net income: JP¥1.83b (up 42% from FY 2020). Profit margin: 13% (up from 9.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 2.5%, compared to a 44% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 10EM Systems Co., Ltd. (TSE:4820) announces an Equity Buyback for 900,000 shares, representing 1.26% for ¥500 million.EM Systems Co., Ltd. (TSE:4820) announces a share repurchase program. Under the program, the company will repurchase up to 900,000 shares, representing 1.26% of its issued share capital (excluding treasury stock), for a total purchase price of ¥500 million. The purpose of the program is to improve capital efficiency and agile capital policy in response to changes in the business environment. The program will continue through August 31, 2022. As of December 31, 2021, the company had 71,179,183 issued shares (excluding treasury stock) and 3,335,617 treasury shares.
Upcoming Dividend • Dec 22Upcoming dividend of JP¥6.00 per shareEligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 March 2022. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (1.0%).
お知らせ • Dec 15EM Systems Co., Ltd. (TSE:4820) agreed to acquire additional 28.83% stake in Good Cycle System Inc. for ¥460 million.EM Systems Co., Ltd. (TSE:4820) agreed to acquire additional 28.85% stake in Good Cycle System Inc. for ¥460 million on December 13, 2021. Share transfer agreement is expected to be entered between December 13, 2021 to December 29, 2021. The transaction is expected to close on January 5, 2021.
お知らせ • Mar 21EM Systems Co., Ltd. to Report Q1, 2021 Results on May 14, 2021EM Systems Co., Ltd. announced that they will report Q1, 2021 results on May 14, 2021
Is New 90 Day High Low • Feb 26New 90-day low: €6.35The company is down 4.0% from its price of €6.60 on 27 November 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Healthcare Services industry, which is down 8.0% over the same period.
Reported Earnings • Feb 14Third quarter 2021 earnings released: EPS JP¥3.21 (vs JP¥4.37 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥3.34b (up 3.5% from 3Q 2020). Net income: JP¥260.0m (down 16% from 3Q 2020). Profit margin: 7.8% (down from 9.6% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.
お知らせ • Feb 12EM Systems Co., Ltd., Annual General Meeting, Mar 17, 2021EM Systems Co., Ltd., Annual General Meeting, Mar 17, 2021.
お知らせ • Jan 31EM Systems Co., Ltd. (TSE:4820) acquired minority stake in NHOSA Corporation from CLSA Sunrise Capital III managed by CLSA Capital Partners.EM Systems Co., Ltd. (TSE:4820) acquired minority stake in NHOSA Corporation from CLSA Sunrise Capital III managed by CLSA Capital Partners on January 29, 2021. Sunrise III will continue to retain a majority stake following the transaction and there will be no material changes to NHOSA’s management team, company name and business operations. EM Systems Co., Ltd. (TSE:4820) completed the acquisition of minority stake in NHOSA Corporation from CLSA Sunrise Capital III managed by CLSA Capital Partners on January 29, 2021.
Is New 90 Day High Low • Jan 13New 90-day high: €7.65The company is up 14% from its price of €6.70 on 15 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare Services industry, which is up 4.0% over the same period.
Is New 90 Day High Low • Dec 29New 90-day high: €7.30The company is up 7.0% from its price of €6.80 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Healthcare Services industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.37 per share.
お知らせ • Dec 05EM Systems Co., Ltd. to Report Fiscal Year 2020 Results on Feb 10, 2021EM Systems Co., Ltd. announced that they will report fiscal year 2020 results on Feb 10, 2021
Reported Earnings • Nov 14Second quarter 2021 earnings released: EPS JP¥7.11The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥3.40b (down 11% from 2Q 2020). Net income: JP¥505.0m (up 29% from 2Q 2020). Profit margin: 15% (up from 10% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.
Is New 90 Day High Low • Oct 21New 90-day low: €6.35The company is down 14% from its price of €7.40 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare Services industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.83 per share.
お知らせ • Aug 30EM Systems Co., Ltd. to Report Q2, 2021 Results on Nov 11, 2020EM Systems Co., Ltd. announced that they will report Q2, 2021 results on Nov 11, 2020
お知らせ • Jul 05EM Systems Co., Ltd. to Report Q1, 2021 Results on Aug 12, 2020EM Systems Co., Ltd. announced that they will report Q1, 2021 results on Aug 12, 2020
