Jerónimo Martins, SGPS, S.A.

ENXTLS:JMT Stock Report

Market Cap: €10.3b

Jerónimo Martins SGPS Management

Management criteria checks 2/4

Jerónimo Martins SGPS' CEO is Pedro de Castro Soares dos Santos, appointed in Apr 2010, has a tenure of 16.25 years. total yearly compensation is €2.40M, comprised of 20.4% salary and 79.6% bonuses, including company stock and options. directly owns 0.044% of the company’s shares, worth €4.65M. The average tenure of the management team and the board of directors is 14.5 years and 1.5 years respectively.

Key information

Pedro de Castro Soares dos Santos

Chief executive officer

€2.4m

Total compensation

CEO salary percentage20.42%
CEO tenure16.3yrs
CEO ownership0.04%
Management average tenure14.5yrs
Board average tenure1.5yrs

Recent management updates

Recent updates

Narrative Update • Jul 06

JMT: Polish Execution And Dividend Support Will Drive Future Upside Potential

The analyst fair value estimate for Jerónimo Martins SGPS has been adjusted from €24.75 to €23.75 as analysts recalibrate their price targets and underlying assumptions in light of recent research that trims growth and margin expectations, while still highlighting longer term opportunities, particularly in Poland. Analyst Commentary Recent Street research on Jerónimo Martins SGPS shows a cluster of price target revisions around the low to mid €20s, with most analysts maintaining positive stock ratings while trimming their fair value assumptions.
New Narrative • Jul 03

Store Expansion And Margin Rebuild Will Support Stronger Long Term Earnings Potential

Catalysts About Jerónimo Martins SGPS Jerónimo Martins SGPS is a multinational food retail group with core banners in Poland, Portugal and Colombia. What are the underlying business or industry changes driving this perspective?
Narrative Update • Jun 22

JMT: Incremental P/E Reset Will Support Upside As Margin Assumptions Hold

Jerónimo Martins SGPS has seen its analyst price target reduced slightly by around €0.35, as analysts fine-tune their fair value models on revenue growth, margins and future P/E assumptions in light of recent target cuts from major banks. Analyst Commentary Recent price target revisions for Jerónimo Martins SGPS give you a clearer view of how analysts are recalibrating expectations on valuation, growth and execution quality.
Narrative Update • Jun 05

JMT: Incremental P/E Reset Will Support Upside As Margins Strengthen

Analysts have trimmed their price target for Jerónimo Martins SGPS by about €0.01, reflecting updated views on revenue growth, profit margins and future P/E assumptions, following recent Street research that reduced targets by €0.30 and €0.10. Analyst Commentary Bullish Takeaways Bullish analysts view the modest €0.01 trimming of the price target, compared with prior €0.30 and €0.10 cuts at JPMorgan, as a signal that recent adjustments to revenue, margin and P/E assumptions are now more incremental than disruptive.
Narrative Update • Apr 26

JMT: Premium P/E And Margins Will Support Upside Despite Higher Discount Rate

The analyst price target for Jerónimo Martins SGPS has been trimmed by about €0.10 as analysts factor in updated fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Analysts have adjusted their views around Jerónimo Martins SGPS, with the modest €0.10 target cut reflecting updated assumptions on fair value, discount rate, revenue growth, profit margins and future P/E levels rather than a wholesale change in thesis.
Narrative Update • Apr 10

JMT: Premium Multiple Will Be Supported By Adjusted Discount Rate Assumptions

Analysts have trimmed their price target on Jerónimo Martins SGPS by around €0.56 to €24.82, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margins and future P/E, alongside recent Street research that included a €0.10 target cut. Analyst Commentary Bullish Takeaways Bullish analysts see the trimmed €24.82 target as still implying room for upside versus recent trading levels, suggesting they are comfortable with the revised fair value framework.
Analysis Article • Apr 06

Jerónimo Martins SGPS' (ELI:JMT) Earnings Offer More Than Meets The Eye

The market seemed underwhelmed by the solid earnings posted by Jerónimo Martins, SGPS, S.A. ( ELI:JMT ) recently. We...
Analysis Article • Feb 16

Market Participants Recognise Jerónimo Martins, SGPS, S.A.'s (ELI:JMT) Earnings

When close to half the companies in Portugal have price-to-earnings ratios (or "P/E's") below 13x, you may consider...
Analysis Article • Jan 16

Returns On Capital At Jerónimo Martins SGPS (ELI:JMT) Have Hit The Brakes

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'd want to...
Narrative Update • Jan 11

JMT: Premium Multiple Will Be Sustained By Refined Discount And P E Assumptions

Analysts have slightly reduced their fair value estimate for Jerónimo Martins SGPS to €25.39 from €25.57, aligning it with a recent Street price target increase to €25.30. They cited updated views on discount rates, revenue growth and future P/E assumptions.
Narrative Update • Dec 24

JMT: Premium Multiple Will Be Sustained By Margin Resilience And Defensive Format

Analysts have nudged their price target on Jerónimo Martins SGPS slightly higher to just above EUR 25, reflecting modestly softer growth and margin assumptions, which are offset by confidence in the company’s ability to sustain a premium valuation multiple. Analyst Commentary Recent updates from JPMorgan highlight a generally constructive stance on Jerónimo Martins SGPS, with the latest move being a price target increase to EUR 25.30 while maintaining an Overweight rating.
Narrative Update • Dec 10

JMT: Margin Resilience Will Support Continued Outperformance Amid Higher Required Returns

The analyst price target for Jerónimo Martins SGPS has edged higher to approximately EUR 25.30 from around EUR 23.70, as analysts cite a slightly lower future P E multiple alongside steady expectations for revenue growth and profit margins. Analyst Commentary Recent Street research on Jerónimo Martins SGPS highlights a constructive view on the company’s medium term growth profile, with adjustments to the price target reflecting fine tuning of valuation assumptions rather than a change in fundamental outlook.
Analysis Article • Dec 01

Are Investors Undervaluing Jerónimo Martins, SGPS, S.A. (ELI:JMT) By 31%?

Key Insights The projected fair value for Jerónimo Martins SGPS is €29.54 based on 2 Stage Free Cash Flow to Equity...
Narrative Update • Nov 25

JMT: Confidence In Core Market Performance Will Support Continued Outperformance

Analysts have increased their price target for Jerónimo Martins SGPS to €25.68, up from €25.41. They cite a balanced outlook on fair value, modest tweaks to revenue growth and profit margin projections, and ongoing confidence in the company’s future performance.
Analysis Article • Nov 16

Investors Appear Satisfied With Jerónimo Martins, SGPS, S.A.'s (ELI:JMT) Prospects

Jerónimo Martins, SGPS, S.A.'s ( ELI:JMT ) price-to-earnings (or "P/E") ratio of 21.2x might make it look like a strong...
Narrative Update • Nov 09

JMT: Improved Margins And Market Resilience Will Drive Future Outperformance

The analyst price target for Jerónimo Martins SGPS has increased slightly from €25.07 to €25.41. This change reflects analysts' greater confidence in the company's improved profit margins and sustained positive outlook.
Analysis Article • Oct 22

Does Jerónimo Martins SGPS (ELI:JMT) Have A Healthy Balance Sheet?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Sep 06

Jerónimo Martins SGPS' (ELI:JMT) Soft Earnings Don't Show The Whole Picture

Shareholders appeared unconcerned with Jerónimo Martins, SGPS, S.A.'s ( ELI:JMT ) lackluster earnings report last week...
Analysis Article • Aug 26

An Intrinsic Calculation For Jerónimo Martins, SGPS, S.A. (ELI:JMT) Suggests It's 27% Undervalued

Key Insights Using the 2 Stage Free Cash Flow to Equity, Jerónimo Martins SGPS fair value estimate is €28.80 Current...
Analysis Article • Aug 04

Jerónimo Martins, SGPS, S.A. Just Recorded A 7.5% EPS Beat: Here's What Analysts Are Forecasting Next

Jerónimo Martins, SGPS, S.A. ( ELI:JMT ) shareholders are probably feeling a little disappointed, since its shares fell...
Analysis Article • Jul 23

Jerónimo Martins, SGPS, S.A.'s (ELI:JMT) Price In Tune With Earnings

Jerónimo Martins, SGPS, S.A.'s ( ELI:JMT ) price-to-earnings (or "P/E") ratio of 21.8x might make it look like a strong...
Analysis Article • Jul 08

We Think Jerónimo Martins SGPS (ELI:JMT) Can Stay On Top Of Its Debt

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
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New Narrative • Nov 12

Expanding Networks And Calculated Investments Poised To Drive Growth In Thriving Markets

Strategic investments in store infrastructure and value propositions may enhance consumer experience and drive revenue growth.

CEO Compensation Analysis

How has Pedro de Castro Soares dos Santos's remuneration changed compared to Jerónimo Martins SGPS's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

€638m

Dec 31 2025€2m€490k

€646m

Sep 30 2025n/an/a

€643m

Jun 30 2025n/an/a

€615m

Mar 31 2025n/an/a

€629m

Dec 31 2024€3m€490k

€599m

Sep 30 2024n/an/a

€638m

Jun 30 2024n/an/a

€653m

Mar 31 2024n/an/a

€713m

Dec 31 2023€2m€490k

€756m

Sep 30 2023n/an/a

€729m

Jun 30 2023n/an/a

€685m

Mar 31 2023n/an/a

€642m

Dec 31 2022€2m€406k

€590m

Sep 30 2022n/an/a

€558m

Jun 30 2022n/an/a

€538m

Mar 31 2022n/an/a

€493m

Dec 31 2021€11m€319k

€463m

Sep 30 2021n/an/a

€417m

Jun 30 2021n/an/a

€394m

Mar 31 2021n/an/a

€335m

Dec 31 2020€1m€245k

€312m

Sep 30 2020n/an/a

€342m

Jun 30 2020n/an/a

€331m

Mar 31 2020n/an/a

€363m

Dec 31 2019€924k€240k

€390m

Compensation vs Market: Pedro's total compensation ($USD2.74M) is above average for companies of similar size in the Portuguese market ($USD1.95M).

Compensation vs Earnings: Pedro's compensation has been consistent with company performance over the past year.

CEO

Pedro de Castro Soares dos Santos (66 yo)

16.3yrs
Tenure
€2,400,000
Compensation

Mr. Pedro Manuel de Castro Soares dos Santos serves as Manager of Friedman – Sociedade de Investimentos Mobiliários e Imobiliários, Lda, Hermes – Sociedade de Investimentos Mobiliários e Imobiliários,Lda....

Leadership Team

NamePositionTenureCompensationOwnership
Pedro de Castro Soares dos Santos
Chairman of the Board & CEO16.3yrs€2.40m0.044%
€ 4.5m
Ana Luisa Abreu Virginia
Chief Financial Officer7.3yrsno datano data
Claudia Falcao
Head of Investor Relationsno datano datano data
Carlos Miguel Ferreira
Chief Legal Officer15.4yrsno datano data
Cristina Perez
Head of Compliance (Personal Data Privacy & Corruption Prevention)no datano datano data
Sara Miranda
Chief Communications & Corporate Responsibility Officerno datano datano data
Marta Maia
Head of Human Resourcesno datano datano data
Jose A. Luis Nogueira Brito
Head of Commercial & Global Sourcingno datano datano data
Antonio Pereira
Head of Finance Transformation & Reportingno datano datano data
Rita Marques
Head of Fiscal Affairsno datano datano data
Conceicao Carrapeta
Head of Sustainable Financeno datano datano data
Madalena Mena
Head of Financial Operations & Insurance13.5yrsno datano data
14.5yrs
Average Tenure
66yo
Average Age

Experienced Management: JMT's management team is seasoned and experienced (14.5 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Pedro de Castro Soares dos Santos
Chairman of the Board & CEO31.3yrs€2.40m0.044%
€ 4.5m
Antonio Domingues
Director1.5yrs€120.00kno data
Jose da Silveira e Castro Soares dos Santos
Non-Executive Director7.3yrsno data0.0033%
€ 334.8k
Agnieszka Slomka Golebiowska
Director1.5yrs€125.00kno data
Elizabeth Bastoni
Independent Non-Executive Director7.3yrs€120.00kno data
Fabio Villegas Ramirez
Director1.5yrs€120.00kno data
Sérgio Rebelo
Independent Non-Executive Director13.3yrs€180.00kno data
Joao De Almeida
Director1.5yrs€120.00kno data
María Ángela Cuéllar
Independent Non-Executive Director7.3yrs€120.00kno data
Nigyar Makhmudova
Director1.5yrs€120.00kno data
Francisco Sa Carneiro
Director1.5yrsno datano data
1.5yrs
Average Tenure
65yo
Average Age

Experienced Board: JMT's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/07 17:41
End of Day Share Price 2026/07/07 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

Analysis Model and Snowflake

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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 Github.

Analyst Sources

Jerónimo Martins, SGPS, S.A. is covered by 40 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jesús Gómez DominguezBanco Santander
Alejandro Conde FraisoliBanco Santander
James AnsteadBarclays