olivLaw · European equity research
emeis EMEIS.PA
France · Euronext Paris · ISIN FR001400NLM4 · Vertical: Listed companies from France
emeis is a European operator of care services for vulnerable people, with roughly 84 500 employees at the end of 2025, active in residential homes, clinics, home care and other health structures. In 2025 the group became a company with a mission, and its sustainability report shows a move towards a more structured governance and social responsibility model.
At the close of 05 Nov 2026, emeis (EMEIS.PA) stock was 10.45 EUR (+2.45% on the day), with market capitalisation 1.6 bn EUR, beta 0.91, 52-week range 9.75–15.49 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 51.4
- neutral
- Bollinger (20, 2)
- 9.61 – 10.47
- in the upper half of the band · %B 0.97 · band width 8.6%
- SMA 50 / 200
- 11.12 / 13.42
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.25 / -0.38
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +2.4% | −0.6% | +3.0 pp | — |
| 3 months | −27.5% | −4.2% | −23.3 pp | — |
| 6 months | −31.2% | +4.3% | −35.5 pp | — |
| Year to date | −27.1% | +7.5% | −34.6 pp | — |
| 1 year | −21.4% | +9.9% | −31.3 pp | −6.8% |
| 3 years | −83.6% | +49.8% | −133.4 pp | −15.9% |
| 5 years | −99.8% | +42.8% | −142.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 5.2 bn | 5.6 bn | 5.9 bn |
| Revenue YoY | unavailable | +8.4% | +4.6% |
| Net income | 1.4 bn | -412.1 m | -298.4 m |
| Net income YoY | unavailable | −130.4% | unavailable |
| Diluted EPS | 10.44 | -2.62 | unavailable |
| Diluted EPS YoY | unavailable | −125.1% | unavailable |
| net % | 26.1% | -7.3% | -5.1% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 337.1 m EUR
- Financial debt
- 4.4 bn EUR
- Net debt
- 4.0 bn EUR
- Equity
- 1.4 bn EUR
- Total assets
- 12.7 bn EUR
- Debt / equity
- 3.09x
- Current ratio
- unavailable
- ROE
- -19.1%
- ROA
- -2.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 5.2 bn | 5.6 bn | 5.9 bn | esef· 12 May 2026verified |
| Operating income | -918.7 m | -38.2 m | 47.7 m | esef· 12 May 2026verified |
| Pre-tax income | 1.4 bn | -360.0 m | -263.9 m | esef· 12 May 2026verified |
| Income tax | 44.6 m | 28.6 m | 34.5 m | esef· 12 May 2026verified |
| Net income | 1.4 bn | -412.1 m | -298.4 m | esef· 12 May 2026verified |
| Diluted EPS | 10.44 | -2.62 | — | esef· 07 May 2025verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 645.0 m | 518.7 m | 337.1 m | esef· 12 May 2026verified |
| Inventories | 15.6 m | 16.2 m | 14.7 m | esef· 12 May 2026verified |
| Property, plant & equipment, net | 4.4 bn | 4.5 bn | 4.1 bn | esef· 12 May 2026verified |
| Goodwill | 1.4 bn | 1.3 bn | 1.3 bn | esef· 12 May 2026verified |
| Intangibles (excl. goodwill) | 1.5 bn | 1.7 bn | 1.7 bn | esef· 12 May 2026verified |
| Total assets | 13.9 bn | 13.4 bn | 12.7 bn | esef· 12 May 2026verified |
| Long-term debt | 4.5 bn | 4.7 bn | 4.4 bn | esef· 12 May 2026verified |
| Equity | 1.9 bn | 1.7 bn | 1.4 bn | esef· 12 May 2026verified |
| Shares outstanding at year end | 129.8 m | 157.3 m | — | esef· 12 May 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 16.7% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.6 bn EUR
Key indicators
Coverage and freshness
Score by group
17% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 0.7% | 19 (vs peers) | 63% |
| Net margin · Quality | -5.1% | 31 (vs peers) | 38% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality23/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
EMEIS (EMEIS.PA). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 5.9 bn EUR in 2025; YoY growth 4.6%; net margin -5.1%; ROE -19.1%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: 0.7%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from France · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AI.PAL'air Liquide Societe Anonyme Pour L'etude Et L'exploitation Des Procedes Georges Claude | 109.3 bn | 33.2 | 12.9% | 12.2% | −2.0% | +26% / +32% |
| AC.PAAccor | 13.8 bn | 30.7 | 9.6% | 8.0% | +0.6% | +6% / +56% |
| ADP.PAAeroports De Paris | 11.7 bn | 34.1 | 7.8% | 5.6% | +12.1% | −7% / +4% |
| AKE.PAArkema | 7.1 bn | 115.4 | 0.9% | 0.7% | −5.0% | +12% / −37% |
| ALO.PAAlstom | 5.8 bn | 18.3 | 3.1% | 1.7% | +3.7% | −51% / −4% |
| AF.PAAir France - Klm | 4.3 bn | 13.6 | — | 1.0% | +4.8% | +20% / +9% |
| ATE.PAAlten | 3.1 bn | 29.5 | 4.8% | 2.6% | −1.1% | +33% / −29% |
| BB.PASociete Bic | 2.7 bn | 31.3 | 5.0% | 4.1% | −4.8% | +32% / +5% |
| EMEIS.PAEmeis | 1.6 bn | — | -19.1% | -5.1% | +4.6% | −22% / −42% |
| ANTIN.PAAntin Infrastructure Partners | 1.4 bn | 13.0 | 21.9% | 36.6% | −8.1% | −24% / −35% |
| 74SW.PA74software | 792.7 m | 20.9 | 8.9% | 8.5% | +44.8% | −13% / +41% |
| AUB.PAAubay | 667.4 m | 17.8 | 13.6% | 6.3% | +11.3% | +3% / +45% |
| ASY.PAAssystem | 507.1 m | 69.9 | 2.5% | 1.1% | +7.4% | −19% / −18% |
| ATO.PAAtos Se | 483.0 m | — | -23,400.0% | -17.5% | −16.5% | −45% / −94% |
| ARAMI.PAAramis Group | 298.8 m | 15.0 | 10.0% | 0.8% | +6.3% | −33% / −16% |
| ARVEN.PAArverne Group | 246.1 m | — | -14.0% | -115.3% | +27.0% | +20% / −35% |
| BGO.PACompagnie Chargeurs Invest | 189.4 m | — | -8.6% | -5.7% | −2.9% | unavailable / unavailable |
| ALCIS.PACatering International & Services | 145.0 m | 28.4 | 9.3% | 1.9% | +5.8% | +39% / +107% |
| ALCGM.PACegedim | 144.6 m | — | -2.6% | -1.2% | +10.9% | −26% / −49% |
| ATEME.PAAteme | 144.0 m | 151.3 | 2.8% | 1.0% | +2.2% | +82% / +77% |
| ALHEX.PAHexaom | 144.0 m | 6.7 | 9.9% | 2.2% | +13.1% | −32% / +7% |
| ALBON.PACompagnie Lebon | 111.7 m | 16.5 | 4.2% | 8.8% | −17.9% | +6% / +8% |
| ALHYF.PALhyfe | 75.8 m | — | -33.4% | -570.5% | +287.2% | unavailable / unavailable |
| ALFER.PASergeferrari Group | 61.5 m | 11.5 | 5.1% | 1.5% | +7.4% | −33% / −27% |
| ABEO.PAAbeo | 60.8 m | 7.3 | 6.9% | 3.0% | +12.6% | −13% / −54% |
1- and 3-year price returns: for EMEIS.PA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
emeis is a European operator of care services for vulnerable people, with roughly 84 500 employees at the end of 2025, active in residential homes, clinics, home care and other health structures. In 2025 the group became a company with a mission, and its sustainability report shows a move towards a more structured governance and social responsibility model. 1
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Precarious working conditionshigh
Excessive workload or faulty organisation can affect staff health and continuity of care. The group says it is adapting its model through social dialogue and a Quality of Working Life approach. 1
- Skills and training managementmedium
A lack of training or career prospects could weaken the group's attractiveness and its ability to adapt. 1
- Quality and reliability of ESG datamedium
The report acknowledges that some data are estimated or incomplete, which limits the comparability of indicators. 1
- Supplier payments and ERP systemsmedium
Problems deploying the new ERP in France prevented publication of reliable supplier payment-term indicators. 1
- Governance policies still being implementedlow
Several policies published only at the end of 2025 are to be applied from 2026, which may create control gaps. 1
Investment thesis
What would need to be true (bull case)
- If governance and social-dialogue changes produce measurable results, the group could benefit from more stable staffing and a solid reputation in the care sector. 1
- The mission-company status may help the group differentiate itself with authorities and families of beneficiaries. 1
- A stabilised ERP system could improve financial control and the publication of reliable indicators. 1
What would break the thesis
- If recruiting and retaining staff remain difficult, costs and risks to continuity of care could rise. 1
- Data gaps and reliance on estimates may limit the confidence of investors and authorities in published indicators. 1
- Delays in deploying administrative systems could prolong problems with supplier payments. 1
What to watch
- Publication of supplier payment-term indicators2026 sustainability report
- Completion of the climate transition plan2026
- Effects of new occupational health and safety policies2026
- Update of the double materiality analysis and consultation of upstream stakeholders2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The emeis group states its purpose as being 'strength of life for the most fragile', and its activity covers the care of residents, patients and beneficiaries through owned structures and home services. According to the 2025 annual report, employees are mainly located in France, Northern Europe and Southern Europe, with 84 586 staff at year end. 1
In June 2025 emeis adopted the status of company with a mission, with four commitments: changing society's view of the most fragile, recognising the professions of the sector, making care a major contributor to local social bonds, and innovating for care more respectful of the planet. 1
The governance structure foresees a board in which some directors are designated under the investment agreement with the creditor group, alongside independent directors and employee representatives. The board met 11 times in 2025, with an average attendance of 91.56 %. 1
Segments
Residential care homes and clinics
This segment includes residential homes, clinics and other health facilities, where frontline staff represent an important part of the 84 586 employees. The report notes that the treatment of staff in these structures is a key factor for care quality. 1
Home care services
Home care, including the ADHAP network in France, is part of the group's ESG reporting scope, and beneficiary satisfaction for these services was extrapolated in 2025. The report specifies that such estimates were used where complete data were not available. 1
Market context
The group operates in several European regions with more than 84 000 employees and is an important player in caring for vulnerable people in several countries. The regional breakdown shows a significant weight for France and Northern Europe, while Asia (China) is only marginally present. 1
Demand for care services depends on demographic trends, which the report does not quantify; the market also depends on staff availability, a factor the group names directly in its risk analysis. 1
Trends
- Transformation under the mission-company statusmixed
Adopting the mission-company status anchors the group's strategy in verifiable social and environmental commitments, which could strengthen trust among families and authorities. The cost and complexity of these commitments remain to be assessed. 1
- CSRD sustainability reportingheadwind
The second CSRD exercise shows progress in data reliability, but the report acknowledges gaps, such as indicators on supplier payments and policies published only at end-2025. Rising transparency expectations increase pressure on internal systems.
- Workforce stabilisationtailwind
The report describes social dialogue and working-condition improvement efforts that could reduce absenteeism and staff turnover if results are confirmed over time. The effect is still uncertain and depends on implementation.
- Administrative and ERP reorganisationmixed
Difficulties in France in deploying a new ERP delayed the publication of supplier payment-term indicators; a corrective plan was launched. If the system stabilises, it could improve administrative control.
Competitive position
The care market for vulnerable people is fragmented, with national and regional operators alongside international groups. The sources provided do not identify direct competitors, so comparisons remain limited to the context of the report. 1
emeis differentiates itself through its mission-company status and its quality and social dialogue programmes, but these are not quantified comparatively in the sources. Competitive pressure on staff and tariffs could influence margins over the long term.
- National residential care operators
Not identified in the sources provided; direct competition cannot be assessed from the report.
- Private clinic and medical service groups
Possible competition in clinics, not named in the texts provided.
- Local home care providers
Regional competition, relevant to the home care network.
- Other European elderly care providers
Not identified in the source; the list must be completed from other sources.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202512 May 2026
- Annual report 202407 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / emeis · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.