Business description

EMIS is a clinical software supplier to the primary care market in the UK (supplying over 50% of UK GP practices), a software supplier to UK pharmacies, and through several acquisitions also supplies specialist and acute care software.

Stock data

Market cap.£457.7m
Last close723.00p
High / Low (52 weeks)1017.0p / 705.0p
Stock market listingLN
Forecast net cash (£m)7.2
Forecast gearing ratio (%)N/A

Price performance

Relative *(2)(21.5)(19.4)

* % Relative to local index

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Company news

EMIS Group - Secondary Care division disappoints

Thu, 21 Jan 2016 10:24:18 GMT

UPDATED: IT system glitches prove costly for EMIS

Thu, 18 Jan 2018 13:21:20 GMT

Octopus Investments Increases Stake In EMIS Group To 6% (ALLISS)

Mon, 19 Feb 2018 15:05:15 GMT

EMIS Group

Thu, 21 Jan 2016 08:47:12 GMT

EMIS Group Says Interim Trading In Line Despite NHS Funding Pressures

Tue, 18 Jul 2017 08:37:30 GMT

Investment summary

EMIS has been informed that it has not been selected as a preferred vendor for the NHS Wales Primary Care framework agreement. The 195 GP practices currently using EMIS Web, which generate annual revenues of c £2m at below group average operating margins, will need to transition to a new supplier over the course of FY19 and FY20. We estimate that this could have a less than 0.5% impact on FY19 EPS and less than 1% on an ongoing basis once all practices have transitioned. So soon after the news regarding issues in the customer support process, this is clearly disappointing. However, the financial impact is marginal and confirms that EMIS is focused on profitability when winning or retaining business.

Last updated on 30/01/2018

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 155.9 52.0 36.6 46.0 15.7 10.6
2016A 158.7 52.3 39.2 49.4 14.6 10.4
2017E 165.0 50.3 37.0 45.7 15.8 10.4
2018E 173.7 52.0 38.3 47.1 15.4 10.5

Last updated on 30/01/2018

Latest research

Latest video

Executive interview - EMIS Group

Industry outlook

EMIS is the dominant software supplier to the UK GP market, with a greater than 50% market share. It has a strong position in mental and community health, A&E, acute care, specialist care (including diabetic retinopathy screening services) and pharmacies. The roll-out of EMIS Web is in line with the trend to move data to the cloud and will enable EMIS to sell its products to a wider NHS audience. This fits well with the government's strategy to promote greater interoperability between NHS departments.

Last updated on 13/12/2017

Key management

Andy Thorburn, CEO
Peter Southby, CFO
Simon Waite, Company Secretary

Company address

Rawdon House
Green Lane, Yeadon
LS19 7BY
United Kingdom
0330 024 1269
View website