EMIS Group

LN: EMIS

Market Cap£766.1m

Last Close 1210p

EMIS is a software supplier with two divisions. EMIS Health supplies integrated care technology to the NHS, including primary, community, acute and social care. EMIS Enterprise is a B2B software provider to the UK healthcare market, including medicines management, partner businesses, patient-facing services and analytics.

More EMIS Group content >

Investment summary

EMIS has reported that H121 trading was slightly ahead of board expectations. The mix of business is returning to pre-COVID-19 levels and the company continues to focus on investing in its technology roadmap. While H121 performance was positive, we maintain our forecasts for FY21–23 pending H121 results, which are scheduled for 9 September.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2019A 159.5 55.6 41.0 53.5 22.6 15.2
2020A 159.5 53.5 43.4 56.4 21.5 11.9
2021E 164.1 55.7 43.8 56.2 21.5 16.5
2022E 172.7 59.1 46.5 59.7 20.3 12.7
Industry outlook

EMIS is the leading software supplier to the UK GP market, with a greater than 50% market share. It has a strong position in community pharmacies, community health, A&E and hospital pharmacies. The EMIS-X platform is being developed to promote greater interoperability between NHS departments, in line with the NHS Long Term Strategy.

Last updated on 23/07/2021
Content on EMIS Group
EMIS Group – Back on the growth track
TMT | Update | 22 March 2021
computer-desk-doctor-48604
EMIS Group – executive interview
TMT | Edison TV | 18 March 2021
View more
Register to receive research on EMIS Group as it is published
Share price graph
Balance sheet
Forecast net cash (£m) 53.8
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 5.2 (3.5) 17.3
Relative* 6.7 (4.2) 1.0
52-week high/low 1258.0p/960.0p
*% relative to local index
Key management
Andy Thorburn CEO
Peter Southby CFO