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JERONIMO MARTINS (JMT.LS) Stock Fundamental Analysis

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

19.57  +0.2 (+1.03%)

Fundamental Rating

4

JMT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 27 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

6

1. Profitability

1.1 Basic Checks

JMT had positive earnings in the past year.
In the past year JMT had a positive cash flow from operations.
Each year in the past 5 years JMT has been profitable.
In the past 5 years JMT always reported a positive cash flow from operatings.
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 500M 1B 1.5B 2B

1.2 Ratios

With a decent Return On Assets value of 4.48%, JMT is doing good in the industry, outperforming 61.54% of the companies in the same industry.
Looking at the Return On Equity, with a value of 22.39%, JMT belongs to the top of the industry, outperforming 80.77% of the companies in the same industry.
The Return On Invested Capital of JMT (12.74%) is better than 76.92% of its industry peers.
JMT had an Average Return On Invested Capital over the past 3 years of 13.87%. This is above the industry average of 9.71%.
Industry RankSector Rank
ROA 4.48%
ROE 22.39%
ROIC 12.74%
ROA(3y)4.91%
ROA(5y)4.41%
ROE(3y)24.17%
ROE(5y)21.56%
ROIC(3y)13.87%
ROIC(5y)12.8%
JMT.LS Yearly ROA, ROE, ROICJMT.LS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30

1.3 Margins

JMT has a Profit Margin (1.94%) which is in line with its industry peers.
JMT's Profit Margin has been stable in the last couple of years.
JMT has a Operating Margin of 3.53%. This is comparable to the rest of the industry: JMT outperforms 53.85% of its industry peers.
JMT's Operating Margin has improved in the last couple of years.
JMT has a Gross Margin (20.40%) which is comparable to the rest of the industry.
In the last couple of years the Gross Margin of JMT has remained more or less at the same level.
Industry RankSector Rank
OM 3.53%
PM (TTM) 1.94%
GM 20.4%
OM growth 3Y4.19%
OM growth 5Y3.2%
PM growth 3Y15.15%
PM growth 5Y1.32%
GM growth 3Y-2.31%
GM growth 5Y-1.19%
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 5 10 15 20

2

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.
Compared to 1 year ago, JMT has about the same amount of shares outstanding.
The number of shares outstanding for JMT remains at a similar level compared to 5 years ago.
Compared to 1 year ago, JMT has a worse debt to assets ratio.
JMT.LS Yearly Shares OutstandingJMT.LS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 5B 10B

2.2 Solvency

An Altman-Z score of 3.18 indicates that JMT is not in any danger for bankruptcy at the moment.
JMT's Altman-Z score of 3.18 is in line compared to the rest of the industry. JMT outperforms 53.85% of its industry peers.
The Debt to FCF ratio of JMT is 9.78, which is on the high side as it means it would take JMT, 9.78 years of fcf income to pay off all of its debts.
JMT has a Debt to FCF ratio of 9.78. This is in the lower half of the industry: JMT underperforms 73.08% of its industry peers.
A Debt/Equity ratio of 1.23 is on the high side and indicates that JMT has dependencies on debt financing.
JMT has a worse Debt to Equity ratio (1.23) than 73.08% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF 9.78
Altman-Z 3.18
ROIC/WACC1.88
WACC6.79%
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 1B 2B 3B

2.3 Liquidity

JMT has a Current Ratio of 0.56. This is a bad value and indicates that JMT is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of JMT (0.56) is worse than 96.15% of its industry peers.
A Quick Ratio of 0.31 indicates that JMT may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.31, JMT is doing worse than 76.92% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.56
Quick Ratio 0.31
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 2B 4B 6B

4

3. Growth

3.1 Past

JMT shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.88%.
Measured over the past years, JMT shows a quite strong growth in Earnings Per Share. The EPS has been growing by 14.50% on average per year.
Looking at the last year, JMT shows a quite strong growth in Revenue. The Revenue has grown by 11.82% in the last year.
JMT shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 12.04% yearly.
EPS 1Y (TTM)-5.88%
EPS 3Y35.36%
EPS 5Y14.5%
EPS Q2Q%-6.06%
Revenue 1Y (TTM)11.82%
Revenue growth 3Y16.63%
Revenue growth 5Y12.04%
Sales Q2Q%6.66%

3.2 Future

Based on estimates for the next years, JMT will show a small growth in Earnings Per Share. The EPS will grow by 3.55% on average per year.
JMT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.38% yearly.
EPS Next Y-19.45%
EPS Next 2Y-4.05%
EPS Next 3Y2.5%
EPS Next 5Y3.55%
Revenue Next Year9.7%
Revenue Next 2Y8.2%
Revenue Next 3Y7.66%
Revenue Next 5Y7.38%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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 50B
JMT.LS Yearly EPS VS EstimatesJMT.LS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0.5 1

3

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 17.47, JMT is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of JMT is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 28.12. JMT is valued slightly cheaper when compared to this.
A Price/Forward Earnings ratio of 17.14 indicates a rather expensive valuation of JMT.
61.54% of the companies in the same industry are cheaper than JMT, based on the Price/Forward Earnings ratio.
JMT is valuated cheaply when we compare the Price/Forward Earnings ratio to 94.77, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 17.47
Fwd PE 17.14
JMT.LS Price Earnings VS Forward Price EarningsJMT.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, JMT is valued a bit cheaper than the industry average as 61.54% of the companies are valued more expensively.
The rest of the industry has a similar Price/Free Cash Flow ratio as JMT.
Industry RankSector Rank
P/FCF 26.2
EV/EBITDA 7.05
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

JMT has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.2
EPS Next 2Y-4.05%
EPS Next 3Y2.5%

3

5. Dividend

5.1 Amount

JMT has a Yearly Dividend Yield of 3.39%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.91, JMT pays a bit more dividend than its industry peers.
JMT's Dividend Yield is a higher than the S&P500 average which is at 2.29.
Industry RankSector Rank
Dividend Yield 3.39%

5.2 History

The dividend of JMT decreases each year by -1.18%.
Dividend Growth(5Y)-1.18%
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 0.2 0.4 0.6

5.3 Sustainability

67.24% of the earnings are spent on dividend by JMT. This is not a sustainable payout ratio.
DP67.24%
EPS Next 2Y-4.05%
EPS Next 3Y2.5%
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 200M 400M 600M 800M 1B
JMT.LS Dividend Payout.JMT.LS Dividend Payout, showing the Payout Ratio.JMT.LS Dividend Payout.PayoutRetained Earnings

JERONIMO MARTINS

ELI:JMT (2/7/2025, 7:00:00 PM)

19.57

+0.2 (+1.03%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupConsumer Staples Distribution & Retail
GICS IndustryConsumer Staples Distribution & Retail
Earnings (Last)10-30 2024-10-30/amc
Earnings (Next)02-26 2025-02-26/amc
Inst Owners22.92%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap12.32B
Analysts75.56
Price Target21.73 (11.04%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.39%
Yearly Dividend0.58
Dividend Growth(5Y)-1.18%
DP67.24%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)6.06%
Min EPS beat(2)-8.63%
Max EPS beat(2)20.74%
EPS beat(4)2
Avg EPS beat(4)1.39%
Min EPS beat(4)-8.63%
Max EPS beat(4)20.74%
EPS beat(8)5
Avg EPS beat(8)3.64%
EPS beat(12)7
Avg EPS beat(12)2.76%
EPS beat(16)10
Avg EPS beat(16)2.92%
Revenue beat(2)0
Avg Revenue beat(2)-1.76%
Min Revenue beat(2)-2.56%
Max Revenue beat(2)-0.97%
Revenue beat(4)1
Avg Revenue beat(4)-0.83%
Min Revenue beat(4)-2.56%
Max Revenue beat(4)1.09%
Revenue beat(8)4
Avg Revenue beat(8)-0.09%
Revenue beat(12)7
Avg Revenue beat(12)0.39%
Revenue beat(16)10
Avg Revenue beat(16)0.41%
PT rev (1m)2.35%
PT rev (3m)1.22%
EPS NQ rev (1m)-1.84%
EPS NQ rev (3m)-35.73%
EPS NY rev (1m)-0.98%
EPS NY rev (3m)-0.98%
Revenue NQ rev (1m)-0.64%
Revenue NQ rev (3m)-3.45%
Revenue NY rev (1m)-0.36%
Revenue NY rev (3m)-0.36%
Valuation
Industry RankSector Rank
PE 17.47
Fwd PE 17.14
P/S 0.37
P/FCF 26.2
P/OCF 8.18
P/B 4.32
P/tB 6
EV/EBITDA 7.05
EPS(TTM)1.12
EY5.72%
EPS(NY)1.14
Fwd EY5.83%
FCF(TTM)0.75
FCFY3.82%
OCF(TTM)2.39
OCFY12.23%
SpS52.32
BVpS4.53
TBVpS3.26
PEG (NY)N/A
PEG (5Y)1.2
Profitability
Industry RankSector Rank
ROA 4.48%
ROE 22.39%
ROCE 16.88%
ROIC 12.74%
ROICexc 16.01%
ROICexgc 18.74%
OM 3.53%
PM (TTM) 1.94%
GM 20.4%
FCFM 1.43%
ROA(3y)4.91%
ROA(5y)4.41%
ROE(3y)24.17%
ROE(5y)21.56%
ROIC(3y)13.87%
ROIC(5y)12.8%
ROICexc(3y)20.46%
ROICexc(5y)17.94%
ROICexgc(3y)25.68%
ROICexgc(5y)22.55%
ROCE(3y)18.37%
ROCE(5y)17.01%
ROICexcg growth 3Y12.83%
ROICexcg growth 5Y-8.29%
ROICexc growth 3Y14.15%
ROICexc growth 5Y-1.97%
OM growth 3Y4.19%
OM growth 5Y3.2%
PM growth 3Y15.15%
PM growth 5Y1.32%
GM growth 3Y-2.31%
GM growth 5Y-1.19%
F-Score4
Asset Turnover2.31
Health
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF 9.78
Debt/EBITDA 1.61
Cap/Depr 101.47%
Cap/Sales 3.15%
Interest Coverage 3.77
Cash Conversion 69.02%
Profit Quality 73.67%
Current Ratio 0.56
Quick Ratio 0.31
Altman-Z 3.18
F-Score4
WACC6.79%
ROIC/WACC1.88
Cap/Depr(3y)103.85%
Cap/Depr(5y)N/A
Cap/Sales(3y)3.27%
Cap/Sales(5y)3.11%
Profit Quality(3y)194.29%
Profit Quality(5y)223.52%
High Growth Momentum
Growth
EPS 1Y (TTM)-5.88%
EPS 3Y35.36%
EPS 5Y14.5%
EPS Q2Q%-6.06%
EPS Next Y-19.45%
EPS Next 2Y-4.05%
EPS Next 3Y2.5%
EPS Next 5Y3.55%
Revenue 1Y (TTM)11.82%
Revenue growth 3Y16.63%
Revenue growth 5Y12.04%
Sales Q2Q%6.66%
Revenue Next Year9.7%
Revenue Next 2Y8.2%
Revenue Next 3Y7.66%
Revenue Next 5Y7.38%
EBIT growth 1Y-4.13%
EBIT growth 3Y21.52%
EBIT growth 5Y15.63%
EBIT Next Year76.46%
EBIT Next 3Y28.39%
EBIT Next 5Y21.1%
FCF growth 1Y-58.74%
FCF growth 3Y0.35%
FCF growth 5Y43.5%
OCF growth 1Y-21%
OCF growth 3Y11.81%
OCF growth 5Y18.27%