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SONAE (SON.LS) Stock Fundamental Analysis

Europe - ELI:SON - PTSON0AM0001 - Common Stock

1.321 EUR
+0 (+0.08%)
Last: 9/16/2025, 2:22:26 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to SON. SON was compared to 22 industry peers in the Consumer Staples Distribution & Retail industry. There are concerns on the financial health of SON while its profitability can be described as average. SON is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year SON was profitable.
SON had a positive operating cash flow in the past year.
SON had positive earnings in each of the past 5 years.
In the past 5 years SON always reported a positive cash flow from operatings.
SON.LS Yearly Net Income VS EBIT VS OCF VS FCFSON.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 0 200M 400M 600M 800M

1.2 Ratios

SON has a Return On Assets (2.15%) which is in line with its industry peers.
SON's Return On Equity of 7.75% is in line compared to the rest of the industry. SON outperforms 40.91% of its industry peers.
SON has a Return On Invested Capital of 3.48%. This is in the lower half of the industry: SON underperforms 72.73% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SON is significantly below the industry average of 9.17%.
Industry RankSector Rank
ROA 2.15%
ROE 7.75%
ROIC 3.48%
ROA(3y)3.29%
ROA(5y)2.79%
ROE(3y)10.37%
ROE(5y)9.04%
ROIC(3y)3.62%
ROIC(5y)3.3%
SON.LS Yearly ROA, ROE, ROICSON.LS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

SON's Profit Margin of 2.31% is fine compared to the rest of the industry. SON outperforms 72.73% of its industry peers.
SON's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 3.46%, SON is in the better half of the industry, outperforming 63.64% of the companies in the same industry.
In the last couple of years the Operating Margin of SON has remained more or less at the same level.
SON has a Gross Margin (21.73%) which is in line with its industry peers.
In the last couple of years the Gross Margin of SON has declined.
Industry RankSector Rank
OM 3.46%
PM (TTM) 2.31%
GM 21.73%
OM growth 3Y3.18%
OM growth 5Y-1.21%
PM growth 3Y-16.47%
PM growth 5Y-2.78%
GM growth 3Y2.33%
GM growth 5Y-7.9%
SON.LS Yearly Profit, Operating, Gross MarginsSON.LS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SON is destroying value.
Compared to 1 year ago, SON has more shares outstanding
Compared to 5 years ago, SON has less shares outstanding
The debt/assets ratio for SON is higher compared to a year ago.
SON.LS Yearly Shares OutstandingSON.LS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
SON.LS Yearly Total Debt VS Total AssetsSON.LS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

Based on the Altman-Z score of 1.31, we must say that SON is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.31, SON is doing worse than 86.36% of the companies in the same industry.
SON has a debt to FCF ratio of 10.14. This is a negative value and a sign of low solvency as SON would need 10.14 years to pay back of all of its debts.
The Debt to FCF ratio of SON (10.14) is comparable to the rest of the industry.
A Debt/Equity ratio of 1.15 is on the high side and indicates that SON has dependencies on debt financing.
SON has a Debt to Equity ratio (1.15) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 1.15
Debt/FCF 10.14
Altman-Z 1.31
ROIC/WACC0.62
WACC5.63%
SON.LS Yearly LT Debt VS Equity VS FCFSON.LS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

SON has a Current Ratio of 0.78. This is a bad value and indicates that SON is not financially healthy enough and could expect problems in meeting its short term obligations.
SON has a worse Current ratio (0.78) than 77.27% of its industry peers.
A Quick Ratio of 0.36 indicates that SON may have some problems paying its short term obligations.
SON has a worse Quick ratio (0.36) than 77.27% of its industry peers.
Industry RankSector Rank
Current Ratio 0.78
Quick Ratio 0.36
SON.LS Yearly Current Assets VS Current LiabilitesSON.LS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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3

3. Growth

3.1 Past

SON shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -39.71%.
SON shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.16% yearly.
Looking at the last year, SON shows a decrease in Revenue. The Revenue has decreased by -0.58% in the last year.
SON shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.11% yearly.
EPS 1Y (TTM)-39.71%
EPS 3Y-2.1%
EPS 5Y8.16%
EPS Q2Q%72.44%
Revenue 1Y (TTM)-0.58%
Revenue growth 3Y12.61%
Revenue growth 5Y9.11%
Sales Q2Q%22.67%

3.2 Future

Based on estimates for the next years, SON will show a small growth in Earnings Per Share. The EPS will grow by 1.95% on average per year.
Based on estimates for the next years, SON will show a small growth in Revenue. The Revenue will grow by 6.07% on average per year.
EPS Next Y2.26%
EPS Next 2Y6.2%
EPS Next 3Y6.91%
EPS Next 5Y1.95%
Revenue Next Year13.47%
Revenue Next 2Y9.06%
Revenue Next 3Y7.83%
Revenue Next 5Y6.07%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SON.LS Yearly Revenue VS EstimatesSON.LS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2B 4B 6B 8B 10B
SON.LS Yearly EPS VS EstimatesSON.LS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.05 0.1 0.15

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6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 11.01, the valuation of SON can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of SON indicates a rather cheap valuation: SON is cheaper than 81.82% of the companies listed in the same industry.
SON is valuated cheaply when we compare the Price/Earnings ratio to 27.27, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 8.72, the valuation of SON can be described as reasonable.
Based on the Price/Forward Earnings ratio, SON is valued cheaper than 86.36% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.77, SON is valued rather cheaply.
Industry RankSector Rank
PE 11.01
Fwd PE 8.72
SON.LS Price Earnings VS Forward Price EarningsSON.LS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

81.82% of the companies in the same industry are more expensive than SON, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 6.55
EV/EBITDA N/A
SON.LS Per share dataSON.LS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4 5

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates SON does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)4.88
PEG (5Y)1.35
EPS Next 2Y6.2%
EPS Next 3Y6.91%

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5

5. Dividend

5.1 Amount

SON has a Yearly Dividend Yield of 4.53%, which is a nice return.
SON's Dividend Yield is a higher than the industry average which is at 4.06.
Compared to an average S&P500 Dividend Yield of 2.38, SON pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.53%

5.2 History

The dividend of SON decreases each year by -11.66%.
Dividend Growth(5Y)-11.66%
Div Incr Years6
Div Non Decr Years6
SON.LS Yearly Dividends per shareSON.LS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.01 0.02 0.03 0.04 0.05

5.3 Sustainability

66.73% of the earnings are spent on dividend by SON. This is not a sustainable payout ratio.
DP66.73%
EPS Next 2Y6.2%
EPS Next 3Y6.91%
SON.LS Yearly Income VS Free CF VS DividendSON.LS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M
SON.LS Dividend Payout.SON.LS Dividend Payout, showing the Payout Ratio.SON.LS Dividend Payout.PayoutRetained Earnings

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SONAE

ELI:SON (9/16/2025, 2:22:26 PM)

1.321

+0 (+0.08%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupConsumer Staples Distribution & Retail
GICS IndustryConsumer Staples Distribution & Retail
Earnings (Last)07-30 2025-07-30/amc
Earnings (Next)11-12 2025-11-12
Inst Owners10.77%
Inst Owner ChangeN/A
Ins Owners53.04%
Ins Owner ChangeN/A
Market Cap2.64B
Analysts80
Price Target1.52 (15.06%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.53%
Yearly Dividend0.08
Dividend Growth(5Y)-11.66%
DP66.73%
Div Incr Years6
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)1.13%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)-21.39%
EPS NY rev (3m)-21.39%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)2.86%
Valuation
Industry RankSector Rank
PE 11.01
Fwd PE 8.72
P/S 0.25
P/FCF 6.55
P/OCF 3.09
P/B 0.85
P/tB 3.79
EV/EBITDA N/A
EPS(TTM)0.12
EY9.08%
EPS(NY)0.15
Fwd EY11.47%
FCF(TTM)0.2
FCFY15.26%
OCF(TTM)0.43
OCFY32.35%
SpS5.21
BVpS1.55
TBVpS0.35
PEG (NY)4.88
PEG (5Y)1.35
Profitability
Industry RankSector Rank
ROA 2.15%
ROE 7.75%
ROCE 4.41%
ROIC 3.48%
ROICexc 3.69%
ROICexgc 5.37%
OM 3.46%
PM (TTM) 2.31%
GM 21.73%
FCFM 3.87%
ROA(3y)3.29%
ROA(5y)2.79%
ROE(3y)10.37%
ROE(5y)9.04%
ROIC(3y)3.62%
ROIC(5y)3.3%
ROICexc(3y)4.05%
ROICexc(5y)3.73%
ROICexgc(3y)5.4%
ROICexgc(5y)4.92%
ROCE(3y)4.59%
ROCE(5y)4.18%
ROICexcg growth 3Y7.22%
ROICexcg growth 5Y8.15%
ROICexc growth 3Y2.69%
ROICexc growth 5Y3.91%
OM growth 3Y3.18%
OM growth 5Y-1.21%
PM growth 3Y-16.47%
PM growth 5Y-2.78%
GM growth 3Y2.33%
GM growth 5Y-7.9%
F-Score5
Asset Turnover0.93
Health
Industry RankSector Rank
Debt/Equity 1.15
Debt/FCF 10.14
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 4.33%
Interest Coverage 250
Cash Conversion N/A
Profit Quality 167.43%
Current Ratio 0.78
Quick Ratio 0.36
Altman-Z 1.31
F-Score5
WACC5.63%
ROIC/WACC0.62
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)4.28%
Cap/Sales(5y)4.03%
Profit Quality(3y)128.34%
Profit Quality(5y)187.55%
High Growth Momentum
Growth
EPS 1Y (TTM)-39.71%
EPS 3Y-2.1%
EPS 5Y8.16%
EPS Q2Q%72.44%
EPS Next Y2.26%
EPS Next 2Y6.2%
EPS Next 3Y6.91%
EPS Next 5Y1.95%
Revenue 1Y (TTM)-0.58%
Revenue growth 3Y12.61%
Revenue growth 5Y9.11%
Sales Q2Q%22.67%
Revenue Next Year13.47%
Revenue Next 2Y9.06%
Revenue Next 3Y7.83%
Revenue Next 5Y6.07%
EBIT growth 1Y15.94%
EBIT growth 3Y16.2%
EBIT growth 5Y7.79%
EBIT Next Year128.51%
EBIT Next 3Y39.39%
EBIT Next 5Y25.65%
FCF growth 1Y37.6%
FCF growth 3Y8.46%
FCF growth 5Y10.74%
OCF growth 1Y34.54%
OCF growth 3Y13.52%
OCF growth 5Y8.41%