View ValuationEM Systems 향후 성장Future 기준 점검 2/6EM Systems (는) 각각 연간 17.4% 및 5.9% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 17.4% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 11.8% 로 예상됩니다.핵심 정보17.4%이익 성장률17.38%EPS 성장률Healthcare Services 이익 성장25.0%매출 성장률5.9%향후 자기자본이익률11.82%애널리스트 커버리지Low마지막 업데이트25 Mar 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent 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.공시 • 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.공시 • Feb 13EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026.공시 • 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, 2026공시 • 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, 2025공시 • 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.공시 • 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, 2025공시 • 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, 2025공시 • Feb 14EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2025EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2025.공시 • 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.공시 • 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%).공시 • 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.공시 • 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.공시 • 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.공시 • 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%).공시 • 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.공시 • 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%).공시 • 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%).공시 • 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.공시 • 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.공시 • 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.공시 • 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, 2022공시 • 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.공시 • 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%).공시 • 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.공시 • 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.공시 • Feb 12EM Systems Co., Ltd., Annual General Meeting, Mar 17, 2021EM Systems Co., Ltd., Annual General Meeting, Mar 17, 2021.공시 • 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.공시 • 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.공시 • 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, 2020공시 • 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, 2020이익 및 매출 성장 예측DB:EMO - 애널리스트 향후 추정치 및 과거 재무 데이터 (JPY Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202826,0002,500N/AN/A112/31/202724,6002,300N/AN/A112/31/202623,5002,000N/AN/A13/31/202621,9831,468N/AN/AN/A12/31/202523,6582,4526272,008N/A9/30/202525,1963,317N/AN/AN/A6/30/202525,9973,0434,3515,544N/A3/31/202525,9802,993N/AN/AN/A12/31/202424,8372,4255,0015,756N/A9/30/202422,9122,115N/AN/AN/A6/30/202421,5262,1582,3263,098N/A3/31/202421,0492,022N/AN/AN/A12/31/202320,3551,9628281,584N/A9/30/202319,6261,606N/AN/AN/A6/30/202318,5731,5938681,585N/A3/31/202317,8111,841N/AN/AN/A12/31/202216,9191,8932,0152,472N/A9/30/202216,5412,222N/AN/AN/A6/30/202215,9282,2311,7212,210N/A3/31/202215,1272,093N/AN/AN/A12/31/202114,4361,8291,1171,712N/A12/31/202013,3731,284-541589N/A9/30/202013,2601,3332791,626N/A6/30/202013,6671,219N/AN/AN/A3/31/202014,0231,3931,1842,300N/A12/31/201913,8261,467N/AN/AN/A9/30/201913,6251,636N/A2,148N/A6/30/201913,2251,873N/AN/AN/A3/31/201913,1331,971N/A1,846N/A12/31/201813,1222,183N/AN/AN/A9/30/201813,6742,352N/A2,640N/A6/30/201814,0322,441N/AN/AN/A3/31/201813,9532,369N/A2,324N/A12/31/201714,2812,541N/AN/AN/A9/30/201714,0272,373N/A2,159N/A6/30/201713,7642,172N/AN/AN/A3/31/201713,6762,116N/A2,080N/A12/31/201613,5451,855N/AN/AN/A9/30/201613,4721,773N/A2,205N/A6/30/201613,4561,705N/AN/AN/A3/31/201613,1991,621N/A2,108N/A12/31/201512,8901,627N/AN/AN/A9/30/201512,3741,392N/A1,479N/A6/30/201511,5861,226N/AN/AN/A더 보기애널리스트 향후 성장 전망수입 대 저축률: EMO 의 연간 예상 수익 증가율(17.4%)이 saving rate(1.9%)보다 높습니다.수익 vs 시장: EMO 의 연간 수익(17.4%)이 German 시장(17.1%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: EMO 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: EMO 의 수익(연간 5.9%)이 German 시장(연간 6.8%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: EMO 의 수익(연간 5.9%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: EMO의 자본 수익률은 3년 후 11.8%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YHealthcare 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/24 19:59종가2026/05/22 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스EM Systems Co., Ltd.는 4명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Masatoshi NagataIchiyoshi Research Institute Inc.Shigekazu IshidaMarusan Securities Co. Ltd.Shigeo MutoSMBC NIKKO1명의 분석가 더 보기
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.
공시 • 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.
공시 • Feb 13EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026EM Systems Co., Ltd., Annual General Meeting, Mar 27, 2026.
공시 • 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
공시 • 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
공시 • 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.
공시 • 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
공시 • 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
공시 • Feb 14EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2025EM Systems Co., Ltd., Annual General Meeting, Mar 28, 2025.
공시 • 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.
공시 • 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%).
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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%).
공시 • 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.
공시 • 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%).
공시 • 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%).
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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%).
공시 • 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.
공시 • 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.
공시 • Feb 12EM Systems Co., Ltd., Annual General Meeting, Mar 17, 2021EM Systems Co., Ltd., Annual General Meeting, Mar 17, 2021.
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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