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JERONIMO MARTINS (JMT.LS) Stock Fundamental Analysis

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

20.2  +0.16 (+0.8%)

Fundamental Rating

4

JMT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 28 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 valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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6

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.
JMT had positive earnings in each of the past 5 years.
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 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 64.29% of the companies in the same industry.
JMT has a better Return On Equity (22.39%) than 82.14% of its industry peers.
JMT has a Return On Invested Capital of 12.74%. This is in the better half of the industry: JMT outperforms 78.57% 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 9.28%.
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 comparable to the rest of the industry.
In the last couple of years the Profit Margin of JMT has remained more or less at the same level.
Looking at the Operating Margin, with a value of 3.53%, JMT is in line with its industry, outperforming 57.14% of the companies in the same industry.
In the last couple of years the Operating Margin of JMT has grown nicely.
JMT has a Gross Margin (20.40%) which is comparable to the rest of the industry.
JMT's Gross Margin has been stable in the last couple of years.
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.
The number of shares outstanding for JMT remains at a similar level compared to 1 year ago.
Compared to 5 years ago, JMT has about the same amount of shares outstanding.
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 3.21 indicates that JMT is not in any danger for bankruptcy at the moment.
JMT has a Altman-Z score (3.21) which is comparable to the rest of the industry.
JMT has a debt to FCF ratio of 9.78. This is a negative value and a sign of low solvency as JMT would need 9.78 years to pay back of all of its debts.
JMT has a worse Debt to FCF ratio (9.78) than 60.71% 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 Debt to Equity ratio of 1.23. This is in the lower half of the industry: JMT underperforms 75.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF 9.78
Altman-Z 3.21
ROIC/WACC1.81
WACC7.02%
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 96.43% of its industry peers.
A Quick Ratio of 0.31 indicates that JMT may have some problems paying its short term obligations.
The Quick ratio of JMT (0.31) is worse than 78.57% 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

The earnings per share for JMT have decreased by -5.88% in the last year.
JMT shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.50% yearly.
Looking at the last year, JMT shows a quite strong growth in Revenue. The Revenue has grown by 11.82% in the last year.
Measured over the past years, JMT shows a quite strong growth in Revenue. The Revenue has been growing by 12.04% on average per year.
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-19.35%
EPS Next 2Y-4.46%
EPS Next 3Y2.06%
EPS Next 5Y3.55%
Revenue Next Year9.74%
Revenue Next 2Y8.25%
Revenue Next 3Y7.61%
Revenue Next 5Y7.38%

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 decreasing.
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 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. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 18.04, which indicates a rather expensive current valuation of JMT.
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 (29.35), we can say JMT is valued slightly cheaper.
JMT is valuated rather expensively with a Price/Forward Earnings ratio of 17.85.
67.86% of the companies in the same industry are cheaper than JMT, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of JMT to the average of the S&P500 Index (22.10), we can say JMT is valued inline with the index average.
Industry RankSector Rank
PE 18.04
Fwd PE 17.85
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

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of JMT is on the same level as its industry peers.
The rest of the industry has a similar Price/Free Cash Flow ratio as JMT.
Industry RankSector Rank
P/FCF 27.05
EV/EBITDA 7.29
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 decent profitability rating of JMT may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.24
EPS Next 2Y-4.46%
EPS Next 3Y2.06%

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.27%, JMT has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.75, JMT has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.33, JMT pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.27%

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

JMT pays out 67.24% of its income as dividend. This is not a sustainable payout ratio.
DP67.24%
EPS Next 2Y-4.46%
EPS Next 3Y2.06%
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 (3/7/2025, 7:00:00 PM)

20.2

+0.16 (+0.8%)

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)03-19 2025-03-19/amc
Inst Owners23.67%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap12.71B
Analysts76.3
Price Target21.82 (8.02%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.27%
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)0.43%
PT rev (3m)2.4%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.84%
EPS NY rev (1m)0.13%
EPS NY rev (3m)-0.85%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.64%
Revenue NY rev (1m)0.04%
Revenue NY rev (3m)-0.32%
Valuation
Industry RankSector Rank
PE 18.04
Fwd PE 17.85
P/S 0.39
P/FCF 27.05
P/OCF 8.44
P/B 4.46
P/tB 6.19
EV/EBITDA 7.29
EPS(TTM)1.12
EY5.54%
EPS(NY)1.13
Fwd EY5.6%
FCF(TTM)0.75
FCFY3.7%
OCF(TTM)2.39
OCFY11.85%
SpS52.32
BVpS4.53
TBVpS3.26
PEG (NY)N/A
PEG (5Y)1.24
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 3.21
F-Score4
WACC7.02%
ROIC/WACC1.81
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-19.35%
EPS Next 2Y-4.46%
EPS Next 3Y2.06%
EPS Next 5Y3.55%
Revenue 1Y (TTM)11.82%
Revenue growth 3Y16.63%
Revenue growth 5Y12.04%
Sales Q2Q%6.66%
Revenue Next Year9.74%
Revenue Next 2Y8.25%
Revenue Next 3Y7.61%
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%