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JERONIMO MARTINS (JMT.LS) Stock Fundamental Analysis

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

19.33  +0.03 (+0.16%)

Fundamental Rating

4

Overall JMT gets a fundamental rating of 4 out of 10. We evaluated JMT against 27 industry peers in the Consumer Staples Distribution & Retail industry. While JMT is still in line with the averages on profitability rating, there are concerns on its financial health. JMT has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

JMT had positive earnings in the past year.
JMT had a positive operating cash flow in the past year.
JMT had positive earnings in each of the past 5 years.
Each year in the past 5 years JMT had a positive operating cash flow.
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

Looking at the Return On Assets, with a value of 4.48%, JMT is in the better half of the industry, outperforming 61.54% of the companies in the same industry.
JMT has a better Return On Equity (22.39%) than 80.77% of its industry peers.
The Return On Invested Capital of JMT (12.74%) is better than 76.92% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for JMT is above the industry average of 9.71%.
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

With a Profit Margin value of 1.94%, JMT perfoms like the industry average, outperforming 42.31% of the companies in the same industry.
In the last couple of years the Profit Margin of JMT has remained more or less at the same level.
JMT has a Operating Margin (3.53%) which is comparable to the rest of the industry.
JMT's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 20.40%, JMT is in line with its industry, outperforming 46.15% of the companies in the same 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

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2

2. Health

2.1 Basic Checks

JMT has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
Compared to 1 year ago, JMT has about the same amount of shares outstanding.
JMT has about the same amout of shares outstanding than it did 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 has a Altman-Z score (3.18) which is in line with 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.
The Debt to FCF ratio of JMT (9.78) is worse than 73.08% of its industry peers.
JMT has a Debt/Equity ratio of 1.23. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.23, JMT is not doing good in the industry: 73.08% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF 9.78
Altman-Z 3.18
ROIC/WACC1.88
WACC6.78%
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

A Current Ratio of 0.56 indicates that JMT may have some problems paying its short term obligations.
JMT has a worse Current ratio (0.56) 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.
JMT has a Quick ratio of 0.31. This is in the lower half of the industry: JMT underperforms 76.92% of its industry peers.
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

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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%.
The Earnings Per Share has been growing by 14.50% on average over the past years. This is quite good.
The Revenue has grown by 11.82% in the past year. This is quite good.
The Revenue has been growing by 12.04% on average over the past years. This is quite good.
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

The Earnings Per Share is expected to grow by 3.55% on average over the next years.
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

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4

4. Valuation

4.1 Price/Earnings Ratio

JMT is valuated rather expensively with a Price/Earnings ratio of 17.26.
JMT's Price/Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Earnings ratio of 28.47, JMT is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 16.93, the valuation of JMT can be described as correct.
Based on the Price/Forward Earnings ratio, JMT is valued a bit more expensive than the industry average as 61.54% of the companies are valued more cheaply.
JMT's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 92.74.
Industry RankSector Rank
PE 17.26
Fwd PE 16.93
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

61.54% 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 is on the same level as the industry average.
Industry RankSector Rank
P/FCF 25.88
EV/EBITDA 7.03
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)1.19
EPS Next 2Y-4.05%
EPS Next 3Y2.5%

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.39%, JMT has a reasonable but not impressive dividend return.
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 2.28.
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

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JERONIMO MARTINS

ELI:JMT (2/5/2025, 10:31:49 AM)

19.33

+0.03 (+0.16%)

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 Cap12.16B
Analysts75.56
Price Target21.73 (12.42%)
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 17.26
Fwd PE 16.93
P/S 0.37
P/FCF 25.88
P/OCF 8.08
P/B 4.27
P/tB 5.92
EV/EBITDA 7.03
EPS(TTM)1.12
EY5.79%
EPS(NY)1.14
Fwd EY5.91%
FCF(TTM)0.75
FCFY3.86%
OCF(TTM)2.39
OCFY12.38%
SpS52.32
BVpS4.53
TBVpS3.26
PEG (NY)N/A
PEG (5Y)1.19
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
WACC6.78%
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%