JPMorgan Emerg EMEA Sec

JEMA.L

Asset Management · Financial Services

Price

243.50 GBp

+3.00 (+1.25%)

Market Cap

£98.5M

Exchange

London Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Apr 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Exceptional

Cash Flow

Weak

Stability

Good

Valuation

Mixed

Dividends

Weak

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Share count falling — buybacks

−4.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 42.3M (2021) → 40.4M (2025)

Winston Score History

The full picture

JPMorgan Emerging Europe Middle East & Africa Securities Plc is a closed-end investment trust listed in London. It pools money from investors and uses it to buy shares in companies located across emerging markets in Eastern Europe, the Middle East, and Africa. JPMorgan Asset Management runs the fund on behalf of shareholders.

The trust makes money by charging an annual management fee based on the value of assets it holds. It is a relatively small fund at around $0.1 billion in assets, and its competitive position rests on JPMorgan's research network and long experience investing in these regions. The main risk is significant: the fund is heavily exposed to politically unstable and economically volatile countries, and events like sanctions, currency crises, or regional conflicts can sharply reduce the value of its holdings. The war in Ukraine and ongoing tensions across the Middle East remain key factors that could continue to weigh on performance.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+139.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-42.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

£0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

1.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£27M cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

JPMorgan Emerg EMEA Sec grew revenue 140% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

91.2%

Premium pricing power — 91.2% gross margin

Profit after running costs

Operating Margin

68.7%

Excellent — 68.7% operating margin

Return on the money invested

ROCE

17.8%

Strong — 17.8% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+153.5%

Fast-growing sales (+153.5% YoY)

Profit growth

EPS YoY

+73.7%

Earnings growing fast (+73.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

Weak — only 4% of profit becomes cash

Spare cash per sale

FCF Margin

3.8%

Thin free cash flow (3.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

20.7x

Growth-priced — P/E 20.7

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

0.25%

Small dividend — 0.25% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-62.0%

Dividend cut (-62.0% YoY) — warning sign

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