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JERONIMO MARTINS (JMT.LS) Stock Fundamental Analysis

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

20.54  -0.86 (-4.02%)

Fundamental Rating

4

Overall JMT gets a fundamental rating of 4 out of 10. We evaluated JMT against 24 industry peers in the Consumer Staples Distribution & Retail industry. There are concerns on the financial health of JMT while its profitability can be described as average. JMT is valied quite expensively at the moment, while 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.
In the past 5 years JMT has always 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

Looking at the Return On Assets, with a value of 4.07%, JMT is in line with its industry, outperforming 56.00% of the companies in the same industry.
With a decent Return On Equity value of 19.91%, JMT is doing good in the industry, outperforming 76.00% of the companies in the same industry.
JMT has a better Return On Invested Capital (11.44%) than 68.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for JMT is above the industry average of 9.37%.
Industry RankSector Rank
ROA 4.07%
ROE 19.91%
ROIC 11.44%
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

JMT has a Profit Margin of 1.86%. This is comparable to the rest of the industry: JMT outperforms 44.00% of its industry peers.
JMT's Profit Margin has declined in the last couple of years.
JMT has a Operating Margin of 3.42%. This is comparable to the rest of the industry: JMT outperforms 56.00% of its industry peers.
JMT's Operating Margin has declined in the last couple of years.
JMT has a Gross Margin (20.55%) which is in line with its industry peers.
JMT's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 3.42%
PM (TTM) 1.86%
GM 20.55%
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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2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), JMT is creating value.
JMT has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, JMT has about the same amount of shares outstanding.
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

JMT has an Altman-Z score of 3.06. This indicates that JMT is financially healthy and has little risk of bankruptcy at the moment.
JMT has a Altman-Z score of 3.06. This is comparable to the rest of the industry: JMT outperforms 52.00% of its industry peers.
JMT has a debt to FCF ratio of 11.44. This is a negative value and a sign of low solvency as JMT would need 11.44 years to pay back of all of its debts.
JMT has a worse Debt to FCF ratio (11.44) than 68.00% of its industry peers.
JMT has a Debt/Equity ratio of 1.26. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.26, JMT is not doing good in the industry: 80.00% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.26
Debt/FCF 11.44
Altman-Z 3.06
ROIC/WACC1.61
WACC7.09%
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 0.60. This is a bad value and indicates that JMT is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.60, JMT is not doing good in the industry: 96.00% of the companies in the same industry are doing better.
A Quick Ratio of 0.33 indicates that JMT may have some problems paying its short term obligations.
JMT has a Quick ratio of 0.33. This is in the lower half of the industry: JMT underperforms 76.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.6
Quick Ratio 0.33
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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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 21.39% over the past year.
JMT shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.40% yearly.
Looking at the last year, JMT shows a quite strong growth in Revenue. The Revenue has grown by 9.33% in the last year.
Measured over the past years, JMT shows a quite strong growth in Revenue. The Revenue has been growing by 12.42% on average per year.
EPS 1Y (TTM)21.39%
EPS 3Y12.88%
EPS 5Y9.4%
EPS Q2Q%136.09%
Revenue 1Y (TTM)9.33%
Revenue growth 3Y17.01%
Revenue growth 5Y12.42%
Sales Q2Q%9.02%

3.2 Future

The Earnings Per Share is expected to grow by 10.65% on average over the next years. This is quite good.
The Revenue is expected to grow by 6.01% on average over the next years.
EPS Next Y5.78%
EPS Next 2Y12.15%
EPS Next 3Y12.49%
EPS Next 5Y10.65%
Revenue Next Year7.68%
Revenue Next 2Y7.33%
Revenue Next 3Y7.24%
Revenue Next 5Y6.01%

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 stable.
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 2029 0.5 1 1.5

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3

4. Valuation

4.1 Price/Earnings Ratio

JMT is valuated correctly with a Price/Earnings ratio of 14.88.
JMT's Price/Earnings is on the same level as the industry average.
When comparing the Price/Earnings ratio of JMT to the average of the S&P500 Index (26.82), we can say JMT is valued slightly cheaper.
Based on the Price/Forward Earnings ratio of 15.55, the valuation of JMT can be described as correct.
Based on the Price/Forward Earnings ratio, JMT is valued a bit more expensive than 64.00% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.21, JMT is valued rather cheaply.
Industry RankSector Rank
PE 14.88
Fwd PE 15.55
JMT.LS Price Earnings VS Forward Price EarningsJMT.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

64.00% of the companies in the same industry are more expensive than JMT, based on the Enterprise Value to EBITDA ratio.
JMT's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. JMT is more expensive than 64.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 28.47
EV/EBITDA 6.89
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)2.58
PEG (5Y)1.58
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 2.76%.
JMT's Dividend Yield is comparable with the industry average which is at 4.10.
JMT's Dividend Yield is comparable with the S&P500 average which is at 2.39.
Industry RankSector Rank
Dividend Yield 2.76%

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

JMT pays out 68.20% of its income as dividend. 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.
DP68.2%
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 (8/1/2025, 7:00:00 PM)

20.54

-0.86 (-4.02%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupConsumer Staples Distribution & Retail
GICS IndustryConsumer Staples Distribution & Retail
Earnings (Last)08-01 2025-08-01/bmo
Earnings (Next)10-29 2025-10-29
Inst Owners23.93%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap12.93B
Analysts75.56
Price Target24.67 (20.11%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.76%
Yearly Dividend0.68
Dividend Growth(5Y)16%
DP68.2%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.5%
Min EPS beat(2)0.7%
Max EPS beat(2)22.31%
EPS beat(4)3
Avg EPS beat(4)8.78%
Min EPS beat(4)-8.63%
Max EPS beat(4)22.31%
EPS beat(8)6
Avg EPS beat(8)6.37%
EPS beat(12)8
Avg EPS beat(12)5.13%
EPS beat(16)11
Avg EPS beat(16)4.77%
Revenue beat(2)0
Avg Revenue beat(2)-1.04%
Min Revenue beat(2)-1.07%
Max Revenue beat(2)-1%
Revenue beat(4)0
Avg Revenue beat(4)-1.4%
Min Revenue beat(4)-2.56%
Max Revenue beat(4)-0.97%
Revenue beat(8)3
Avg Revenue beat(8)-0.41%
Revenue beat(12)6
Avg Revenue beat(12)0.23%
Revenue beat(16)9
Avg Revenue beat(16)0.28%
PT rev (1m)2.69%
PT rev (3m)11.36%
EPS NQ rev (1m)-11.71%
EPS NQ rev (3m)-11.71%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-0.83%
Revenue NQ rev (3m)-0.07%
Revenue NY rev (1m)0.04%
Revenue NY rev (3m)0.23%
Valuation
Industry RankSector Rank
PE 14.88
Fwd PE 15.55
P/S 0.38
P/FCF 28.47
P/OCF 8.65
P/B 4.09
P/tB 5.49
EV/EBITDA 6.89
EPS(TTM)1.38
EY6.72%
EPS(NY)1.32
Fwd EY6.43%
FCF(TTM)0.72
FCFY3.51%
OCF(TTM)2.38
OCFY11.57%
SpS53.67
BVpS5.02
TBVpS3.74
PEG (NY)2.58
PEG (5Y)1.58
Profitability
Industry RankSector Rank
ROA 4.07%
ROE 19.91%
ROCE 15.05%
ROIC 11.44%
ROICexc 14.47%
ROICexgc 16.67%
OM 3.42%
PM (TTM) 1.86%
GM 20.55%
FCFM 1.34%
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 1.26
Debt/FCF 11.44
Debt/EBITDA 1.79
Cap/Depr 97.2%
Cap/Sales 3.08%
Interest Coverage 3.42
Cash Conversion 67.16%
Profit Quality 72.18%
Current Ratio 0.6
Quick Ratio 0.33
Altman-Z 3.06
F-Score6
WACC7.09%
ROIC/WACC1.61
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)21.39%
EPS 3Y12.88%
EPS 5Y9.4%
EPS Q2Q%136.09%
EPS Next Y5.78%
EPS Next 2Y12.15%
EPS Next 3Y12.49%
EPS Next 5Y10.65%
Revenue 1Y (TTM)9.33%
Revenue growth 3Y17.01%
Revenue growth 5Y12.42%
Sales Q2Q%9.02%
Revenue Next Year7.68%
Revenue Next 2Y7.33%
Revenue Next 3Y7.24%
Revenue Next 5Y6.01%
EBIT growth 1Y-7.67%
EBIT growth 3Y11.3%
EBIT growth 5Y10.06%
EBIT Next Year113.05%
EBIT Next 3Y37.02%
EBIT Next 5Y22.22%
FCF growth 1Y-61.69%
FCF growth 3Y-17.88%
FCF growth 5Y-6.67%
OCF growth 1Y-30.21%
OCF growth 3Y-1.97%
OCF growth 5Y2.08%