Jerónimo Martins, SGPS, S.A.

WSE:JMT Stock Report

Market Cap: zł48.6b

Jerónimo Martins SGPS Valuation

Is JMT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of JMT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: JMT (PLN78.7) is trading below our estimate of fair value (PLN210.87)

Significantly Below Fair Value: JMT is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for JMT?

Key metric: As JMT is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for JMT. This is calculated by dividing JMT's market cap by their current earnings.
What is JMT's PE Ratio?
PE Ratio17.9x
Earnings€638.00m
Market Cap€11.41b

Price to Earnings Ratio vs Peers

How does JMT's PE Ratio compare to its peers?

The above table shows the PE ratio for JMT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.4x
DNP Dino Polska
27.1x18.1%zł38.8b
CART Maplebear
24.8x11.7%US$10.8b
CPALL CP ALL
20.7x10.9%฿480.6b
SHP Shoprite Holdings
25x12.8%R164.4b
JMT Jerónimo Martins SGPS
18x11.2%zł11.5b

Price-To-Earnings vs Peers: JMT is good value based on its Price-To-Earnings Ratio (18x) compared to the peer average (24.5x).

Price to Earnings Ratio vs Industry

How does JMT's PE Ratio compare vs other companies in the European Consumer Retailing Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
JMT 17.9xIndustry Avg. 14.7xNo. of Companies10PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: JMT is expensive based on its Price-To-Earnings Ratio (18x) compared to the European Consumer Retailing industry average (15.1x).

Price to Earnings Ratio vs Fair Ratio

What is JMT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

JMT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.9x
Fair PE Ratio40.7x

Price-To-Earnings vs Fair Ratio: JMT is good value based on its Price-To-Earnings Ratio (18x) compared to the estimated Fair Price-To-Earnings Ratio (40.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst JMT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł78.70
zł90.26
+14.7%
13.6%zł111.05zł64.07n/a22
Dec ’25zł79.75
zł91.86
+15.2%
13.7%zł111.98zł64.61n/a22
Nov ’25zł76.85
zł92.40
+20.2%
13.9%zł113.42zł65.43n/a22
Oct ’25zł76.95
zł94.81
+23.2%
13.2%zł117.45zł68.33n/a22
Sep ’25zł71.20
zł96.23
+35.2%
13.4%zł118.50zł68.95n/a22
Aug ’25zł69.00
zł96.33
+39.6%
13.0%zł117.54zł68.39n/a22
Jul ’25zł81.20
zł101.91
+25.5%
11.4%zł121.84zł79.93n/a22
Jun ’25zł86.70
zł101.60
+17.2%
11.4%zł121.45zł79.68n/a22
May ’25zł83.10
zł102.41
+23.2%
12.0%zł123.44zł79.85n/a22
Apr ’25zł80.00
zł106.02
+32.5%
11.1%zł125.32zł79.95n/a21
Mar ’25zł95.20
zł109.49
+15.0%
12.4%zł140.25zł77.68n/a21
Feb ’25zł92.25
zł109.90
+19.1%
13.0%zł142.19zł78.75n/a20
Jan ’25zł100.00
zł109.81
+9.8%
12.3%zł140.70zł77.93n/a20
Dec ’24zł99.00
zł108.96
+10.1%
12.6%zł140.44zł77.78zł79.7520
Nov ’24zł98.45
zł111.69
+13.4%
12.6%zł145.05zł80.34zł76.8520
Oct ’24zł100.60
zł115.13
+14.4%
14.5%zł150.02zł80.78zł76.9520
Sep ’24zł103.20
zł112.74
+9.2%
14.1%zł144.09zł77.58zł71.2020
Aug ’24zł109.90
zł113.09
+2.9%
14.1%zł144.53zł77.82zł69.0020
Jul ’24zł113.10
zł103.63
-8.4%
11.8%zł126.42zł77.63zł81.2020
Jun ’24zł106.00
zł104.25
-1.7%
11.8%zł128.81zł79.09zł86.7020
May ’24zł104.40
zł104.64
+0.2%
10.3%zł121.27zł80.08zł83.1021
Apr ’24n/a
zł107.21
0%
8.7%zł123.88zł84.14zł80.0020
Mar ’24n/a
zł109.12
0%
9.1%zł126.54zł85.95zł95.2020
Feb ’24n/a
zł106.79
0%
9.1%zł124.63zł84.66zł92.2520
Jan ’24n/a
zł106.86
0%
7.6%zł124.25zł89.08zł100.0021
Dec ’23n/a
zł104.67
0%
9.9%zł124.33zł75.07zł99.0022

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/21 00:16
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Jerónimo Martins, SGPS, S.A. is covered by 57 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nishant ChoudharyAlphaValue
Bruno SilvaBanco BPI, S.A.
José RitoBanco BPI, S.A.