EM Systems Co (EMO) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of EM Systems Co €3.57, price €3.14, upside +13.7%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
In Frankfurt, only 0 of the last 20 trading days (30 days) had any turnover. On the other days the price is an indicative quote without trading, so we do not list this stock in the radar. It stays reachable through search.
ESBroad dataOct 1, 2026
EM Systems Co
EMO · F
UndervaluedThe stock appears undervalued with acceptable quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range €2.49 – €7.11 · fair‑value band €2.26 – €5.19 · the €3.14 price screens below the €3.57 fair value. Dashed = 300-day average. As of Oct 1, 2026.
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EM Systems Co., Ltd., together with its subsidiaries, develops, sells, and maintains various IT systems for pharmacies, clinics, and care/welfare other business in Japan. The company operates through Dispensing Systems Business, Medical Systems Business, Nursing Care/Welfare System Business, and Other Business segments.
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EM Systems Co., Ltd., together with its subsidiaries, develops, sells, and maintains various IT systems for pharmacies, clinics, and care/welfare other business in Japan. The company operates through Dispensing Systems Business, Medical Systems Business, Nursing Care/Welfare System Business, and Other Business segments. It develops and sells IT systems for pharmacies, such as medical fee receipt computers and electronic medication record systems; IT systems for clinics, including medical accounting and electronic medical record systems; and office processing systems for care/welfare providers. In addition, the company offers staffing, pharmacy management, cashless, and development and operation of statistical information analysis services. EM Systems Co., Ltd. was incorporated in 1980 and is based in Osaka, Japan.
Stock analysis
EM Systems Co (EMO) currently trades at €3.14, while our model-based Fair Value estimate is €3.57, implying the stock looks roughly 12.0% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €4.38 per share, and 13 of the 26 models we run sit above the €3.14 price.
Bear case: the Asset-Based group reads lowest at €1.11, and 13 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: €2.26 (bear) to €5.19 (bull), the price of €3.14 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
EM Systems Co reported revenue of ¥23.7B in FY2026 versus ¥14.4B in FY2022, a compound +13.1%/yr. Reported net income was ¥2.5B in FY2026, compounding +7.6%/yr from FY2022.
Key figures
Market cap €217M · P/E ratio 26.2 · P/S ratio 2.71 · EPS (TTM) €0.1200 · Dividend yield 4.0% · Net margin 10.4% · Return on equity 7.5% · Return on assets (EBIT) 10.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 26% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 6% fair-value upside, at 14%, EMO screens cheaper than that median.
Fair Value models
Bear €2.26Fair Value €3.57Bull €5.19
Price €3.14 · Upside +13.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.51/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.8%
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.3%
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What shareholders gained per year (last 5 years), in JPY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+13.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.4%
Dividend (yield on the price)4.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9.4% vs 1.7%, picking up
Profit margin 2020 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 16%
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+30.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +28.0% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Health Information Services · 116 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside+13.7% · Top 25%
Profitability
Return on equity (TTM)7.5% · Above median
Return on assets5.7% · Above median
Net margin (TTM)6.9% · Above median
Operating margin (TTM)13.1% · Above median
Growth and dividend
Revenue growth−0.7% · Bottom 25%
Dividend yield (TTM)4.0% · Above median
Valuation Multiplesvs Health Information Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "EM Systems Co Fair Value". https://www.fairvalue-calculator.com/stock/EMO.F
Frequently asked questions
Is EM Systems Co (EMO) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of €3.57 versus a price of €3.14, about +14% upside (undervalued).
What is the fair value of EMO?
Our model-based fair value for EM Systems Co is €3.57 (as of Oct 1, 2026), built from audited fundamentals. The current price: €3.14.
What is the quality score of EMO?
EM Systems Co has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for EM Systems Co (EMO)?
Our model-based price target is the fair value of €3.57 (as of Oct 1, 2026) from 26 valuation models. Cautious scenario €2.26, optimistic scenario €5.19. It is a calculation from audited fundamentals, not an analyst target.
What is the EM Systems Co stock forecast for 2026?
Our models put fair value at €3.57, about +14% upside versus a price of €3.14 (undervalued). Cautious scenario €2.26, optimistic scenario €5.19. The calculation is refreshed regularly with new filings.
What is the revenue of EM Systems Co (EMO)?
EM Systems Co reported trailing-twelve-month revenue of about ¥21.9B (latest available figure, as of Oct 1, 2026).
Does EM Systems Co pay a dividend?
EM Systems Co currently shows a dividend yield of about 3.95% relative to its recent price (as of Oct 1, 2026).
What growth is priced into EM Systems Co (EMO)?
For today's price to be fair in a discounted-cash-flow model, EM Systems Co would have to grow free cash flow by +30.7 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 6 years revenue grew +9.1 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of EMO use?
Our models discount EM Systems Co at 11.0 %: a base by market capitalisation (micro), damped by beta 0.26, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For EM Systems Co that is +30.7 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has EM Systems Co (EMO) delivered so far?
Over the past 6 years revenue at EM Systems Co grew +9.1 % a year. The price currently implies +30.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of EM Systems Co (EMO) growing?
The median revenue growth in the sector is +5.2 % a year. That is the yardstick for the growth priced into EM Systems Co (+30.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of EM Systems Co (EMO)?
The free-cash-flow yield on the price is 1.63 %: that much free cash flow EM Systems Co produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EM Systems Co (EMO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EM Systems Co it is €3.57 per share (as of Oct 1, 2026), against a price of €3.14. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is EM Systems Co stock overvalued or undervalued in 2026?
As of Oct 1, 2026, EMO trades below its calculated fair value: price €3.14, fair value €3.57, a gap of about +14% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EMO?
No. The price is what the market pays today (€3.14); the fair value is what the company's own numbers justify (€3.57). For EM Systems Co the two are €0.4300 per share apart. That gap is exactly why we show both numbers side by side.
How much is EM Systems Co worth?
The market values EM Systems Co at about €217M (market capitalisation, as of Oct 1, 2026). Per share that is €3.14; our models calculate a fair value of €3.57 per share.
What do the bullish and bearish scenarios say about EMO?
Our models span a range for EM Systems Co: cautious scenario €2.26, base €3.57, optimistic €5.19 per share (as of Oct 1, 2026, price €3.14). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EMO?
EM Systems Co trades at a price-to-earnings ratio of 26.2 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €3.57 is built from several models across several years. Other multiples: P/B 1.9, P/S 1.8, EV/EBITDA 8.3.
How solid is the balance sheet of EM Systems Co (EMO)?
Balance-sheet figures for EM Systems Co (as of Oct 1, 2026): return on equity 7.5%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is EMO from its 52-week high?
EM Systems Co trades at €3.14, about 28% below its 52-week high of €4.38 and 26% above the low of €2.49 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of €3.57 is for.
Which stocks are comparable to EM Systems Co?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, Hinge Health, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is EM Systems Co stock attractive at the current price?
The data as of Oct 1, 2026: price €3.14, calculated fair value €3.57 (+14%), Quality Score 64/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EMO calculated?
We run EM Systems Co through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €3.57, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. EM Systems Co currently trades 12 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of EM Systems Co (EMO)?
The closing price on Oct 1, 2026 was €3.14. Our model-based fair value is €3.57, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EM Systems Co right now?
A fairly wide model range (€2.26 to €5.19) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of EM Systems Co
How large is the market capitalisation of EM Systems Co (EMO)?
The market capitalisation of EM Systems Co is €217M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of EM Systems Co (EMO)?
The price-to-sales ratio of EM Systems Co is 2.71 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of EM Systems Co (EMO)?
Earnings per share at EM Systems Co are €0.1200 (price ÷ EPS = P/E 26.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of EM Systems Co (EMO)?
The dividend yield of EM Systems Co is 4.0% (payout 103%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of EM Systems Co (EMO)?
The net margin of EM Systems Co is 10.4% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of EM Systems Co (EMO)?
The return on equity (ROE) of EM Systems Co is 7.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of EM Systems Co (EMO)?
On an EBIT basis the return on assets of EM Systems Co is 10.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of EM Systems Co (EMO)?
The operating margin of EM Systems Co is 13.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EM Systems Co (EMO)?
Revenue at EM Systems Co is growing −0.7% versus a year earlier (3y avg +11.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at EM Systems Co (EMO)?
Earnings per share at EM Systems Co are growing +9.6% versus a year earlier. How much earnings per share grew versus a year earlier.
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