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JERONIMO MARTINS (JMT.LS) Stock Fundamental Analysis

ELI:JMT - Euronext Lisbon - PTJMT0AE0001 - Common Stock - Currency: EUR

22.5  +0.02 (+0.09%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to JMT. JMT was compared to 26 industry peers in the Consumer Staples Distribution & Retail industry. JMT has a medium profitability rating, but doesn't score so well on its financial health evaluation. JMT is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year JMT was profitable.
In the past year JMT had a positive cash flow from operations.
Each year in the past 5 years JMT has been profitable.
JMT had a positive operating cash flow in each of the past 5 years.
JMT.LS Yearly Net Income VS EBIT VS OCF VS FCFJMT.LS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

1.2 Ratios

With a Return On Assets value of 3.92%, JMT perfoms like the industry average, outperforming 57.69% of the companies in the same industry.
JMT has a better Return On Equity (19.93%) than 76.92% of its industry peers.
JMT has a better Return On Invested Capital (12.00%) than 76.92% of its industry peers.
JMT had an Average Return On Invested Capital over the past 3 years of 13.72%. This is above the industry average of 9.64%.
Industry RankSector Rank
ROA 3.92%
ROE 19.93%
ROIC 12%
ROA(3y)4.73%
ROA(5y)4.39%
ROE(3y)24.04%
ROE(5y)21.6%
ROIC(3y)13.72%
ROIC(5y)13%
JMT.LS Yearly ROA, ROE, ROICJMT.LS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

Looking at the Profit Margin, with a value of 1.79%, JMT is doing worse than 61.54% of the companies in the same industry.
JMT's Profit Margin has declined in the last couple of years.
JMT has a Operating Margin (3.48%) which is comparable to the rest of the industry.
JMT's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 20.47%, JMT is in line with its industry, outperforming 42.31% of the companies in the same industry.
JMT's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 3.48%
PM (TTM) 1.79%
GM 20.47%
OM growth 3Y-4.88%
OM growth 5Y-2.1%
PM growth 3Y-6.88%
PM growth 5Y-3.07%
GM growth 3Y-1.66%
GM growth 5Y-1.31%
JMT.LS Yearly Profit, Operating, Gross MarginsJMT.LS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so JMT is creating value.
JMT has about the same amout of shares outstanding than it did 1 year ago.
JMT has about the same amout of shares outstanding than it did 5 years ago.
The debt/assets ratio for JMT is higher compared to a year ago.
JMT.LS Yearly Shares OutstandingJMT.LS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
JMT.LS Yearly Total Debt VS Total AssetsJMT.LS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

An Altman-Z score of 3.11 indicates that JMT is not in any danger for bankruptcy at the moment.
JMT has a Altman-Z score of 3.11. This is comparable to the rest of the industry: JMT outperforms 57.69% of its industry peers.
JMT has a debt to FCF ratio of 7.58. This is a slightly negative value and a sign of low solvency as JMT would need 7.58 years to pay back of all of its debts.
JMT has a Debt to FCF ratio (7.58) which is in line with its industry peers.
A Debt/Equity ratio of 1.27 is on the high side and indicates that JMT has dependencies on debt financing.
JMT has a worse Debt to Equity ratio (1.27) than 80.77% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 7.58
Altman-Z 3.11
ROIC/WACC1.63
WACC7.34%
JMT.LS Yearly LT Debt VS Equity VS FCFJMT.LS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.3 Liquidity

JMT has a Current Ratio of 0.61. This is a bad value and indicates that JMT is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.61, JMT is doing worse than 96.15% of the companies in the same industry.
JMT has a Quick Ratio of 0.61. This is a bad value and indicates that JMT is not financially healthy enough and could expect problems in meeting its short term obligations.
JMT has a worse Quick ratio (0.36) than 73.08% of its industry peers.
Industry RankSector Rank
Current Ratio 0.61
Quick Ratio 0.36
JMT.LS Yearly Current Assets VS Current LiabilitesJMT.LS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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5

3. Growth

3.1 Past

The earnings per share for JMT have decreased strongly by -16.94% in the last year.
Measured over the past years, JMT shows a quite strong growth in Earnings Per Share. The EPS has been growing by 9.40% on average per year.
Looking at the last year, JMT shows a small growth in Revenue. The Revenue has grown by 5.98% in the last year.
The Revenue has been growing by 12.42% on average over the past years. This is quite good.
EPS 1Y (TTM)-16.94%
EPS 3Y12.88%
EPS 5Y9.4%
EPS Q2Q%-8.7%
Revenue 1Y (TTM)5.98%
Revenue growth 3Y17.01%
Revenue growth 5Y12.42%
Sales Q2Q%3.86%

3.2 Future

Based on estimates for the next years, JMT will show a quite strong growth in Earnings Per Share. The EPS will grow by 14.35% on average per year.
Based on estimates for the next years, JMT will show a small growth in Revenue. The Revenue will grow by 4.03% on average per year.
EPS Next Y5.78%
EPS Next 2Y12.15%
EPS Next 3Y12.49%
EPS Next 5Y14.35%
Revenue Next Year7.64%
Revenue Next 2Y7.16%
Revenue Next 3Y7.09%
Revenue Next 5Y4.03%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
JMT.LS Yearly Revenue VS EstimatesJMT.LS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 10B 20B 30B 40B
JMT.LS Yearly EPS VS EstimatesJMT.LS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.5 1 1.5

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 21.84, which indicates a rather expensive current valuation of JMT.
Based on the Price/Earnings ratio, JMT is valued a bit more expensive than 61.54% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.35. JMT is around the same levels.
JMT is valuated rather expensively with a Price/Forward Earnings ratio of 17.04.
Based on the Price/Forward Earnings ratio, JMT is valued a bit more expensive than 69.23% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.20. JMT is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 21.84
Fwd PE 17.04
JMT.LS Price Earnings VS Forward Price EarningsJMT.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

JMT's Enterprise Value to EBITDA is on the same level as the industry average.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of JMT indicates a slightly more expensive valuation: JMT is more expensive than 65.38% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 21.82
EV/EBITDA 7.76
JMT.LS Per share dataJMT.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
A more expensive valuation may be justified as JMT's earnings are expected to grow with 12.49% in the coming years.
PEG (NY)3.78
PEG (5Y)2.32
EPS Next 2Y12.15%
EPS Next 3Y12.49%

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3

5. Dividend

5.1 Amount

JMT has a Yearly Dividend Yield of 2.70%.
Compared to an average industry Dividend Yield of 3.74, JMT has a dividend in line with its industry peers.
JMT's Dividend Yield is comparable with the S&P500 average which is at 2.40.
Industry RankSector Rank
Dividend Yield 2.7%

5.2 History

On average, the dividend of JMT grows each year by 16.00%, which is quite nice.
Dividend Growth(5Y)16%
Div Incr Years1
Div Non Decr Years1
JMT.LS Yearly Dividends per shareJMT.LS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

71.62% of the earnings are spent on dividend by JMT. This is not a sustainable payout ratio.
The dividend of JMT is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP71.62%
EPS Next 2Y12.15%
EPS Next 3Y12.49%
JMT.LS Yearly Income VS Free CF VS DividendJMT.LS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
JMT.LS Dividend Payout.JMT.LS Dividend Payout, showing the Payout Ratio.JMT.LS Dividend Payout.PayoutRetained Earnings

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JERONIMO MARTINS

ELI:JMT (5/28/2025, 5:35:15 PM)

22.5

+0.02 (+0.09%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupConsumer Staples Distribution & Retail
GICS IndustryConsumer Staples Distribution & Retail
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-01 2025-08-01
Inst Owners23.67%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap14.16B
Analysts76.43
Price Target22.21 (-1.29%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.7%
Yearly Dividend0.68
Dividend Growth(5Y)16%
DP71.62%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.72%
Min EPS beat(2)0.7%
Max EPS beat(2)20.74%
EPS beat(4)2
Avg EPS beat(4)1.44%
Min EPS beat(4)-8.63%
Max EPS beat(4)20.74%
EPS beat(8)6
Avg EPS beat(8)5.31%
EPS beat(12)8
Avg EPS beat(12)3.46%
EPS beat(16)11
Avg EPS beat(16)3.68%
Revenue beat(2)0
Avg Revenue beat(2)-0.99%
Min Revenue beat(2)-1%
Max Revenue beat(2)-0.97%
Revenue beat(4)1
Avg Revenue beat(4)-0.86%
Min Revenue beat(4)-2.56%
Max Revenue beat(4)1.09%
Revenue beat(8)4
Avg Revenue beat(8)-0.11%
Revenue beat(12)7
Avg Revenue beat(12)0.36%
Revenue beat(16)10
Avg Revenue beat(16)0.4%
PT rev (1m)0.75%
PT rev (3m)1.79%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.03%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.87%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.39%
Revenue NY rev (1m)0.19%
Revenue NY rev (3m)0.81%
Valuation
Industry RankSector Rank
PE 21.84
Fwd PE 17.04
P/S 0.42
P/FCF 21.82
P/OCF 8.56
P/B 4.71
P/tB 6.4
EV/EBITDA 7.76
EPS(TTM)1.03
EY4.58%
EPS(NY)1.32
Fwd EY5.87%
FCF(TTM)1.03
FCFY4.58%
OCF(TTM)2.63
OCFY11.68%
SpS53.18
BVpS4.78
TBVpS3.51
PEG (NY)3.78
PEG (5Y)2.32
Profitability
Industry RankSector Rank
ROA 3.92%
ROE 19.93%
ROCE 15.79%
ROIC 12%
ROICexc 16.11%
ROICexgc 18.83%
OM 3.48%
PM (TTM) 1.79%
GM 20.47%
FCFM 1.94%
ROA(3y)4.73%
ROA(5y)4.39%
ROE(3y)24.04%
ROE(5y)21.6%
ROIC(3y)13.72%
ROIC(5y)13%
ROICexc(3y)19.89%
ROICexc(5y)18.44%
ROICexgc(3y)24.39%
ROICexgc(5y)22.89%
ROCE(3y)18.05%
ROCE(5y)17.1%
ROICexcg growth 3Y-6.83%
ROICexcg growth 5Y1.01%
ROICexc growth 3Y-4.11%
ROICexc growth 5Y2.52%
OM growth 3Y-4.88%
OM growth 5Y-2.1%
PM growth 3Y-6.88%
PM growth 5Y-3.07%
GM growth 3Y-1.66%
GM growth 5Y-1.31%
F-Score6
Asset Turnover2.19
Health
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 7.58
Debt/EBITDA 1.73
Cap/Depr 96.36%
Cap/Sales 3%
Interest Coverage 3.56
Cash Conversion 74.91%
Profit Quality 108.35%
Current Ratio 0.61
Quick Ratio 0.36
Altman-Z 3.11
F-Score6
WACC7.34%
ROIC/WACC1.63
Cap/Depr(3y)109.84%
Cap/Depr(5y)95.58%
Cap/Sales(3y)3.34%
Cap/Sales(5y)3.1%
Profit Quality(3y)146.03%
Profit Quality(5y)198.17%
High Growth Momentum
Growth
EPS 1Y (TTM)-16.94%
EPS 3Y12.88%
EPS 5Y9.4%
EPS Q2Q%-8.7%
EPS Next Y5.78%
EPS Next 2Y12.15%
EPS Next 3Y12.49%
EPS Next 5Y14.35%
Revenue 1Y (TTM)5.98%
Revenue growth 3Y17.01%
Revenue growth 5Y12.42%
Sales Q2Q%3.86%
Revenue Next Year7.64%
Revenue Next 2Y7.16%
Revenue Next 3Y7.09%
Revenue Next 5Y4.03%
EBIT growth 1Y-5.44%
EBIT growth 3Y11.3%
EBIT growth 5Y10.06%
EBIT Next Year113.05%
EBIT Next 3Y37.02%
EBIT Next 5Y29.95%
FCF growth 1Y-31.32%
FCF growth 3Y-17.88%
FCF growth 5Y-6.67%
OCF growth 1Y-18.32%
OCF growth 3Y-1.97%
OCF growth 5Y2.08%