Jerónimo Martins SGPS' (ELI:JMT) Soft Earnings Don't Show The Whole Picture
Sep 06
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Portuguese (PSI) Market Analysis & Valuation
UpdatedSep 07, 2025
DataAggregated Company Financials
Companies44
- 7D-0.6%
- 3M4.4%
- 1Y3.9%
- YTD15.8%
In the last week, the market has stayed flat, however the Healthcare sector stood out, gaining 5.4%. As for the longer term, the market has risen 3.9% in the past 12 months. Looking forward, earnings are forecast to grow by 13% annually.
Market Valuation and Performance
Has the Portuguese Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 07 Sep 2025 | €79.9b | €107.8b | €4.0b | 12x | 19.8x | 0.7x |
| Tue, 05 Aug 2025 | €80.1b | €107.8b | €4.1b | 12.1x | 19.4x | 0.7x |
| Thu, 03 Jul 2025 | €79.0b | €107.0b | €4.4b | 11.8x | 17.9x | 0.7x |
| Sat, 31 May 2025 | €75.9b | €107.1b | €4.5b | 11.7x | 17x | 0.7x |
| Mon, 28 Apr 2025 | €71.3b | €106.1b | €4.4b | 11.8x | 16x | 0.7x |
| Wed, 26 Mar 2025 | €69.9b | €105.5b | €4.5b | 11.6x | 15.5x | 0.7x |
| Fri, 21 Feb 2025 | €69.4b | €104.4b | €5.6b | 11.9x | 12.5x | 0.7x |
| Sun, 19 Jan 2025 | €70.0b | €104.5b | €5.9b | 12x | 11.9x | 0.7x |
| Tue, 17 Dec 2024 | €70.0b | €104.8b | €5.9b | 11.8x | 11.9x | 0.7x |
| Thu, 14 Nov 2024 | €71.4b | €104.6b | €5.8b | 12.7x | 12.2x | 0.7x |
| Sat, 12 Oct 2024 | €78.8b | €105.0b | €6.4b | 12.6x | 12.3x | 0.8x |
| Mon, 09 Sep 2024 | €79.2b | €104.9b | €6.5b | 13x | 12.3x | 0.8x |
| Wed, 07 Aug 2024 | €76.2b | €104.7b | €6.4b | 12.1x | 11.8x | 0.7x |
| Fri, 05 Jul 2024 | €79.2b | €103.3b | €5.8b | 12.8x | 13.7x | 0.8x |
| Sun, 02 Jun 2024 | €81.5b | €103.2b | €5.8b | 13.5x | 14.1x | 0.8x |
| Tue, 30 Apr 2024 | €78.9b | €103.8b | €5.7b | 13.6x | 13.8x | 0.8x |
| Thu, 28 Mar 2024 | €73.7b | €102.4b | €5.7b | 11.7x | 12.9x | 0.7x |
| Sat, 24 Feb 2024 | €75.5b | €101.7b | €5.6b | 12x | 13.5x | 0.7x |
| Mon, 22 Jan 2024 | €79.7b | €103.1b | €5.8b | 12x | 13.8x | 0.8x |
| Wed, 20 Dec 2023 | €83.0b | €103.3b | €5.8b | 11x | 14.3x | 0.8x |
| Fri, 17 Nov 2023 | €79.7b | €103.1b | €5.9b | 10.8x | 13.6x | 0.8x |
| Sun, 15 Oct 2023 | €74.4b | €105.8b | €5.5b | 9.8x | 13.5x | 0.7x |
| Tue, 12 Sep 2023 | €79.2b | €106.0b | €5.6b | 9.9x | 14.2x | 0.7x |
| Thu, 10 Aug 2023 | €79.4b | €104.8b | €5.5b | 9.4x | 14.3x | 0.8x |
| Sat, 08 Jul 2023 | €78.8b | €106.6b | €6.3b | 9.3x | 12.5x | 0.7x |
| Mon, 05 Jun 2023 | €80.9b | €106.5b | €6.3b | 9.9x | 12.9x | 0.8x |
| Wed, 03 May 2023 | €82.3b | €107.3b | €5.5b | 9.5x | 14.8x | 0.8x |
| Fri, 31 Mar 2023 | €81.9b | €105.6b | €5.6b | 9.3x | 14.6x | 0.8x |
| Sun, 26 Feb 2023 | €78.5b | €102.9b | €5.6b | 9.3x | 14.1x | 0.8x |
| Tue, 24 Jan 2023 | €80.4b | €101.3b | €5.1b | 9.3x | 15.7x | 0.8x |
| Thu, 22 Dec 2022 | €79.4b | €101.3b | €5.1b | 8.6x | 15.6x | 0.8x |
| Sat, 19 Nov 2022 | €78.8b | €100.9b | €5.1b | 9.2x | 15.5x | 0.8x |
| Mon, 17 Oct 2022 | €72.4b | €93.5b | €4.1b | 10.5x | 17.8x | 0.8x |
| Wed, 14 Sep 2022 | €85.3b | €93.1b | €4.0b | 11.1x | 21.1x | 0.9x |
Price to Earnings Ratio
21.1x
Current Market PE
- Investors are optimistic on the Portuguese market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 19.8x which is higher than its 3-year average PE of 14.4x.
Past Earnings Growth
- The earnings for Portuguese listed companies have remained mostly flat over the last three years.
- Meanwhile revenues have grown 5.0% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Sector Trends
Which sectors have driven the changes within the Portuguese Market?
| PT Market | -0.62% | |
| Healthcare | 5.42% | |
| Consumer Staples | 3.28% | |
| Tech | 0.85% | |
| Consumer Discretionary | 0.38% | |
| Telecom | 0.29% | |
| Industrials | 0.056% | |
| Real Estate | 0% | 0 |
| Materials | -0.66% | |
| Utilities | -0.77% | |
| Financials | -1.82% | |
| Energy | -5.03% | |
Sector PE
- Investors favour the Real Estate sector the most for future growth which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 5.9%, which is lower than the prior year's growth of 100.4% per year.
- The Healthcare sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 6.7x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 24% over the next 5 years.
- This is better than its past earnings decline of 32% per year.
- In contrast, the Telecom sector is expected to see its earnings decline by 6.8% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| JMT Jerónimo Martins SGPS | €21.90 | 3.6% +€477.6m | 35.3% | PE22.4x | Consumer Staples | |
| SON Sonae SGPS | €1.30 | 1.6% +€38.8m | 34.9% | PE10x | Consumer Staples | |
| TDSA Teixeira Duarte | €0.44 | 8.3% +€14.3m | 345.7% | PE3.2x | Industrials | |
| EGL Mota-Engil SGPS | €5.10 | 0.9% +€13.8m | 103.7% | PE11.8x | Industrials | |
| SNC Sonaecom SGPS | €3.02 | 1.3% +€12.2m | 13.5% | PE12.9x | Telecom |
