Jerónimo Martins, SGPS, S.A.

ENXTLS:JMT Stock Report

Mkt Cap: €12.3b

We’ve recently updated our valuation analysis.

Jerónimo Martins SGPS Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

JMT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.6x
Enterprise Value/EBITDA11.8x
PEG Ratio2x

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.
CompanyPEEstimated GrowthMarket Cap
Peer Average14.3x
SON Sonae SGPS
6.4x-27.4%€1.8b
MRU Metro
18.9x4.8%CA$16.5b
ACI Albertsons Companies
9x4.7%US$11.5b
COL Coles Group
23.1x7.4%AU$24.2b
JMT Jerónimo Martins SGPS
22.1x11.0%€12.3b

Price-To-Earnings vs Peers: JMT is expensive based on its Price-To-Earnings Ratio (22.1x) compared to the peer average (14.3x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a13.7%
n/an/an/a

Price-To-Earnings vs Industry: JMT is expensive based on its Price-To-Earnings Ratio (22.1x) compared to the European Consumer Retailing industry average (14.1x)


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 Ratio22.1x
Fair PE Ratio19.1x

Price-To-Earnings vs Fair Ratio: JMT is expensive based on its Price-To-Earnings Ratio (22.1x) compared to the estimated Fair Price-To-Earnings Ratio (19.1x).


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 (€19.61) is trading below our estimate of fair value (€27.07)

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


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
Current€19.61
€22.71
+15.8%
9.1%€26.50€18.00n/a20
Jan ’24€20.18
€22.79
+12.9%
7.6%€26.50€19.00n/a21
Dec ’23€21.60
€22.31
+3.3%
9.9%€26.50€16.00n/a22
Nov ’23€21.26
€22.30
+4.9%
10.0%€26.50€16.00n/a21
Oct ’23€19.05
€22.60
+18.6%
10.8%€27.00€16.00n/a22
Sep ’23€21.82
€22.43
+2.8%
10.8%€27.00€16.00n/a23
Aug ’23€22.70
€22.13
-2.5%
10.3%€27.00€16.00n/a23
Jul ’23€20.90
€21.47
+2.7%
9.5%€25.00€16.00n/a23
Jun ’23€18.74
€21.31
+13.7%
9.1%€25.00€16.00n/a25
May ’23€19.80
€21.16
+6.9%
9.4%€25.00€16.00n/a25
Apr ’23€21.20
€20.72
-2.3%
9.3%€25.00€16.00n/a25
Mar ’23€19.81
€20.84
+5.2%
9.2%€23.50€16.00n/a24
Feb ’23€21.30
€20.55
-3.5%
9.3%€23.50€17.50€19.5425
Jan ’23€20.10
€19.48
-3.1%
10.6%€23.50€15.00€20.1825
Dec ’22€19.41
€18.74
-3.5%
13.4%€22.50€12.00€21.6024
Nov ’22€19.90
€18.57
-6.7%
13.5%€22.50€12.00€21.2624
Oct ’22€17.36
€17.42
+0.4%
12.4%€21.60€12.00€19.0523
Sep ’22€18.09
€17.14
-5.2%
12.9%€21.60€12.00€21.8222
Aug ’22€17.18
€17.04
-0.8%
12.7%€21.60€12.00€22.7023
Jul ’22€15.53
€16.23
+4.5%
11.1%€19.10€12.00€20.9022
Jun ’22€15.88
€16.21
+2.1%
11.0%€19.10€12.00€18.7422
May ’22€15.19
€15.98
+5.2%
10.3%€19.00€12.00€19.8023
Apr ’22€14.40
€15.72
+9.1%
10.4%€18.25€12.00€21.2023
Mar ’22€13.07
€15.72
+20.3%
10.4%€18.00€12.00€19.8123
Feb ’22€13.28
€15.98
+20.3%
9.3%€18.00€12.00€21.3024

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


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