EM Systems Co (FRA:EMO) Cyclically Adjusted PS Ratio: 2.27 (As of Sep. 14, 2026) — 40% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:EMO EM Systems Co Ltd FRA:EMO
79 GF Score
Price €3.16
GF Value €3.60
! 3 Warning Signs
View Full Analysis

What is EM Systems Co Cyclically Adjusted PS Ratio?

EM Systems Co FRA:EMO 79 Cyclically Adjusted PS Ratio is 2.27 as of Sep. 14, 2026, which is 40% below its 10-year median of 3.80. GuruFocus rates FRA:EMO with a GF Score™ of 79/100 and a GF Value™ of €3.60. The stock has 3 warning signs investors should review. Among 364 Healthcare Providers & Services companies, EM Systems Co ranks worse than 69.51% on this metric.

As of today (2026-09-14), EM Systems Co's current share price is €3.16. EM Systems Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was €1.39. EM Systems Co's Cyclically Adjusted PS Ratio for today is 2.27.

The historical rank and industry rank for EM Systems Co's Cyclically Adjusted PS Ratio or its related term are showing as below:

FRA:EMO' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.86   Med: 3.8   Max: 6.09
Current: 2.2

During the past years, EM Systems Co's highest Cyclically Adjusted PS Ratio was 6.09. The lowest was 1.86. And the median was 3.80.

FRA:EMO's Cyclically Adjusted PS Ratio is ranked worse than
69.51% of 364 companies
in the Healthcare Providers & Services industry
Industry Median: 1.18 vs FRA:EMO: 2.20

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

EM Systems Co's adjusted revenue per share data for the three months ended in Jun. 2026 was €0.420. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €1.39 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


EM Systems Co  (FRA:EMO) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


EM Systems Co Cyclically Adjusted PS Ratio Related Terms


EM Systems Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for EM Systems Co's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

EM Systems Co Cyclically Adjusted PS Ratio Chart

EM Systems Co Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.99 4.00 3.19 3.23 3.06

EM Systems Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.88 2.99 3.06 2.52 1.85

FRA:EMO vs VEEV, BTSG, TEM: Cyclically Adjusted PS Ratio Comparison

For the Health Information Services subindustry, EM Systems Co's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


EM Systems Co Cyclically Adjusted PS Ratio vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, EM Systems Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where EM Systems Co's Cyclically Adjusted PS Ratio falls into.


FRA:EMO
79GF Score
EM Systems Co Ltd FRA:EMO
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

EM Systems Co Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

EM Systems Co's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=3.16/1.39
=2.27

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

EM Systems Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, EM Systems Co's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.42/113.6000*113.6000
=0.420

Current CPI (Jun. 2026) = 113.6000.

EM Systems Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.433 98.000 0.502
201612 0.383 98.400 0.442
201703 0.445 98.100 0.515
201706 0.351 98.500 0.405
201709 0.399 98.800 0.459
201712 0.375 99.400 0.429
201803 0.377 99.200 0.432
201806 0.349 99.200 0.400
201809 0.368 99.900 0.418
201812 0.330 99.700 0.376
201903 0.393 99.700 0.448
201906 0.378 99.800 0.430
201909 0.448 100.100 0.508
201912 0.372 100.500 0.420
202003 0.434 100.300 0.492
202006 0.338 99.900 0.384
202009 0.382 99.900 0.434
202012 0.370 99.300 0.423
202103 0.358 99.900 0.407
202106 0.357 99.500 0.408
202109 0.401 100.100 0.455
202112 0.440 100.100 0.499
202203 0.429 101.100 0.482
202206 0.415 101.800 0.463
202209 0.430 103.100 0.474
202212 0.438 104.100 0.478
202303 0.482 104.400 0.524
202306 0.454 105.200 0.490
202309 0.482 106.200 0.516
202312 0.463 106.800 0.492
202403 0.484 107.200 0.513
202406 0.453 108.200 0.476
202409 0.606 108.900 0.632
202412 0.624 110.700 0.640
202503 0.601 111.100 0.615
202506 0.470 111.700 0.478
202509 0.495 112.000 0.502
202512 0.437 113.000 0.439
202603 0.395 112.700 0.398
202606 0.420 113.600 0.420

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 2.27 mean?
EM Systems Co (FRA:EMO) has a Cyclically Adjusted PS Ratio of 2.27 as of Sep. 14, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on EM Systems Co and its competitors. This is 40% below median its historical median of 3.80. Over the past decade, EM Systems Co's Cyclically Adjusted PS Ratio has ranged from 1.86 to 6.09. According to the industry distribution chart, EM Systems Co ranks #253 out of 364 companies in the Healthcare Providers & Services industry, placing it in the top 69.5%.
Is EM Systems Co's Cyclically Adjusted PS Ratio too high?
EM Systems Co's current Cyclically Adjusted PS Ratio of 2.27 is 40% below median its 10-year median of 3.80. Over the past 10 years, this metric has ranged from a low of 1.86 to a high of 6.09. The Healthcare Providers & Services industry median Cyclically Adjusted PS Ratio is 1.18. EM Systems Co's value of 2.27 is 92.4% above this industry median. Based on the distribution chart, EM Systems Co ranks #253 out of 364 companies in the Healthcare Providers & Services industry, which is below the industry midpoint. Overall, EM Systems Co has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does EM Systems Co's Cyclically Adjusted PS Ratio compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, EM Systems Co ranks #253 out of 364 companies for Cyclically Adjusted PS Ratio. This places EM Systems Co in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.18. EM Systems Co's value of 2.27 is 92.4% above this benchmark. Historically, EM Systems Co's own Cyclically Adjusted PS Ratio has ranged from 1.86 to 6.09 over the past decade. While the company's 10-year median is 3.80 vs. the industry median of 1.18, EM Systems Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Healthcare Providers & Services company?
The median Cyclically Adjusted PS Ratio among Healthcare Providers & Services companies is 1.18, based on 364 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. EM Systems Co's current Cyclically Adjusted PS Ratio of 2.27 is 92.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on EM Systems Co and its competitors. For the Healthcare Providers & Services industry, the median Cyclically Adjusted PS Ratio is 1.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. EM Systems Co's current Cyclically Adjusted PS Ratio is 2.27, which is 40% below median its own 10-year median of 3.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EM Systems Co stock overvalued right now?
EM Systems Co (FRA:EMO) has a current Cyclically Adjusted PS Ratio of 2.27. The stock's GF Value™ is €3.60, compared to a current price of €3.16 — trading 12.2% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.27, which is 40% below median its 10-year median of 3.80 and 92.4% above the Healthcare Providers & Services industry median of 1.18. EM Systems Co's overall GF Score™ is 79/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For EM Systems Co (FRA:EMO), the current Cyclically Adjusted PS Ratio is 2.27 as of Sep. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is EM Systems Co (FRA:EMO) Overvalued in 2026?

Based on GuruFocus' analysis, EM Systems Co stock appears to be undervalued. The current stock price of €3.16 is trading 12.2% below its estimated GF Value™ of €3.60.

Key valuation signals for FRA:EMO:

  • Cyclically Adjusted PS Ratio: 2.27 (40% below median its 10-year median of 3.80)
  • GF Value™: €3.60 vs. price of €3.16 (12.2% below fair value)
  • GF Score™: 79/100 with 3 warning signs
  • Industry Position: 92.4% above the Healthcare Providers & Services median (#253 of 364)

No single metric tells the full story. See the FRA:EMO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


EM Systems Co Business Description

Other Exchanges 4820:Japan
Address 6-1, Miyahara 1-chome, Yodogawa-ku, Osaka, JPN, 532-0003
EM Systems Co Ltd is a Japan-based company that develops, sells, and maintains systems for the medical (clinics and insurance pharmacies) and nursing/welfare industries. It operates its business in three divisions: Pharmacy System Business develops and sells systems for pharmacies, and provides related supplies and maintenance services; Medical system involved in the development and sales of medical office administration computer systems for medical institutions and clinics; Nursing Care/Welfare Systems Business products are systems for nursing care/welfare service providers and medical and nursing care collaboration solutions; Other businesses operates through its subsidiray that provides promotes cashless payments for clinics and pharmacies and Others services.
79GF Score

Get the complete analysis for FRA:EMO

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€3.16
Price
€3.60
GF Value