# JPMorgan Global Emerging Markets Income Trust (JEMI.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 214p, market value 552 millionp.

## Valuation
- **P/E (trailing): 4.9×** (5-yr avg 963.3×, 3-yr avg 1132.1×). JPMorgan Global Emerging Markets Income Trust trades at 4.9× trailing earnings, well below its own five-year average of 963.3×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 2.9×**. Each dollar of revenue is priced at 2.9×.
- **Price / book: 1.2×**. The shares trade at 1.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 3.1×**. Enterprise value is 3.1× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 5.2%** (5-yr avg 0.0%). Free cash flow equals 5.2% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 20.6%**. The inverse of the P/E: 20.6% of the price is earned each year.

## Profitability
- **Gross margin: 96.0%**. JPMorgan Global Emerging Markets Income Trust keeps 96.0% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 95.7%**. 95.7% of revenue is left after running the business, an exceptional level.
- **Net margin: 92.2%**. 92.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 11.9%**. 11.9% on shareholders' equity is solid.
- **Return on invested capital: 37.4%**. Return on all capital, debt included, is 37.4%: comfortably above what that capital costs.
- **Return on assets: 36.7%**. Each dollar of assets produces 36.7% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 93.1%** (3-yr 14.2%/yr). Revenue grew 93.1% over the last year.
- **EPS growth (1 yr): 119.9%**. Earnings per share rose 119.9%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 3.4%/yr**. Free cash flow has compounded at 3.4% a year over three years.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: 2 millionp**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend: none**. JPMorgan Global Emerging Markets Income Trust does not currently pay a dividend, but it returned 10.7% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 42.0%** (YTD 25.7%, 3-mo 5.9%). The shares are up 42.0% over twelve months including dividends.
- **From 52-week high: -5.0%** (44.6% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 69**. An RSI of 69 is neutral.
- **Beta (1 yr): 0.66** (volatility 21%). Beta of 0.66 against the FTSE All-Share: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=JEMI.L · Page: https://foliofundamentals.com/stocks/jemi.l

Not investment advice.