Jeronimo Martins SGPS SA (JRONY)
OTHER OTC:JRONY
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Jeronimo Martins SGPS SA
(OTC:JRONY)
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Rating:59Neutral
Price Target:
$42.00
▼(-14.04% Downside)
Action:Downgraded
Date:06/22/26
The score is driven primarily by decent fundamentals—growth and reliable cash generation—offset by thin and recently compressed margins plus elevated leverage. Technicals are the main near-term drag due to a pronounced downtrend, while valuation is moderately supportive given the mid P/E and solid dividend yield.
Positive Factors
Revenue & cash generation
Sustained top-line expansion paired with repeatedly positive operating and free cash flow implies the business reliably converts sales into cash. That cash buffer supports reinvestment, dividend funding and debt servicing over the next several months, enhancing resilience versus peers.
Negative Factors
Thin profitability
Sub-2% net margins leave minimal cushion for input cost inflation or operational shocks. Persistent margin compression reduces retained earnings and limits the company's ability to invest or absorb price competition, raising structural earnings risk in the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & cash generation
Sustained top-line expansion paired with repeatedly positive operating and free cash flow implies the business reliably converts sales into cash. That cash buffer supports reinvestment, dividend funding and debt servicing over the next several months, enhancing resilience versus peers.
Read all positive factors
Jeronimo Martins SGPS SA (JRONY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.33B
Dividend Yield2.78%
Average Volume (3M)433.00
Price to Earnings (P/E)17.1
Beta (1Y)0.22
Revenue Growth16.73%
EPS Growth9.53%
CountryUS
Employees119,427
SectorConsumer Defensive
Sector Strength42
IndustryFood Distribution
Share Statistics
EPS (TTM)2.94
Shares Outstanding314,646,500
10 Day Avg. Volume0
30 Day Avg. Volume433
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)1.93
Price to Sales (P/S)0.18
P/FCF Ratio5.01
Enterprise Value/Market Cap1.17
Enterprise Value/Revenue0.39
Enterprise Value/Gross Profit1.98
Enterprise Value/Ebitda5.81
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.84
Revenue Forecast (FY)$44.95B
Jeronimo Martins SGPS SA Business Overview & Revenue Model
Company Description
Jerónimo Martins, SGPS, S.A. functions as a diversified retail group, primarily concentrating on food distribution and specialized retail markets across Portugal, Poland, and Colombia. The company's operations are segmented into Portugal Retail, P...
How the Company Makes Money
The company makes money mainly by selling consumer goods through its large-scale food retail networks. Its core revenue stream is retail sales from grocery and discount stores, where it earns revenue at the point of sale and generates profit from ...
Jeronimo Martins SGPS SA Earnings Call Summary
Earnings Call Date:Oct 29, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Neutral
The earnings call reflected a solid financial performance with strong revenue and EBITDA growth, successful expansion, and a robust cash position. However, the company continues to face challenges from geopolitical uncertainties, competitive market conditions, and cautious consumer behavior, which have impacted pricing strategies and sales in certain segments.Positive Updates
Robust Revenue Growth
Group sales grew by 7.1% or 6.6% at constant exchange rates to EUR 26.5 billion, with a notable like-for-like growth of 2.4% and significant contributions from expansion.
Negative Updates
Challenging Market Conditions
The ongoing global geopolitical uncertainty and a highly competitive market environment are impacting consumer sentiment and price competition.
Read all updates
Q3-2025 Updates
Positive
Negative
Robust Revenue Growth
Group sales grew by 7.1% or 6.6% at constant exchange rates to EUR 26.5 billion, with a notable like-for-like growth of 2.4% and significant contributions from expansion.
Read all positive updates
Company Guidance
During the Jerónimo Martins Group's first nine months results conference call for fiscal year 2025, Chief Financial Officer Ana Luisa Virginia highlighted several key metrics underpinning the group's performance amidst ongoing geopolitical uncertainty. The group's top line grew by 7.1% (6.6% at constant exchange rates) to EUR 26.5 billion, with robust contributions from all banners, notably Biedronka in Poland, which added EUR 1 billion in sales at constant exchange rates. Consolidated EBITDA increased by 10.9% to EUR 1.8 billion, achieving a margin improvement of 23 basis points to 6.8%, driven by effective cost management and productivity measures. The group executed a CapEx program of EUR 816 million, opening 274 new stores and renovating 170 locations. The balance sheet remained strong, closing with a net cash position of EUR 467 million. Additionally, cash flow, excluding dividends, was EUR 128 million, reflecting improved funds from operations and enhanced working capital flows. Despite challenges, such as low basket inflation and competitive pressures, the group maintained its price leadership and market share, particularly in Poland, where it gained 0.2 percentage points of market share up to August.Jeronimo Martins SGPS SA Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
57
Neutral
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.58B | 35.99B | 33.46B | 30.61B | 25.39B | 20.89B |
| Gross Profit | 7.29B | 7.43B | 6.85B | 6.25B | 5.33B | 4.50B |
| EBITDA | 2.48B | 2.38B | 2.16B | 2.15B | 1.76B | 1.54B |
| Net Income | 638.43M | 621.46M | 599.00M | 756.00M | 590.00M | 463.00M |
Balance Sheet | ||||||
| Total Assets | 16.92B | 17.05B | 15.30B | 14.30B | 11.85B | 10.37B |
| Cash, Cash Equivalents and Short-Term Investments | 1.83B | 2.27B | 1.88B | 2.07B | 1.80B | 1.53B |
| Total Debt | 5.70B | 5.57B | 4.92B | 4.15B | 3.15B | 2.85B |
| Total Liabilities | 13.31B | 13.52B | 12.04B | 11.23B | 9.26B | 7.84B |
| Stockholders Equity | 3.39B | 3.29B | 3.01B | 2.81B | 2.33B | 2.28B |
Cash Flow | ||||||
| Free Cash Flow | 1.31B | 1.27B | 649.00M | 933.00M | 1.21B | 1.17B |
| Operating Cash Flow | 2.35B | 2.28B | 1.65B | 2.02B | 2.10B | 1.76B |
| Investing Cash Flow | -1.09B | -1.03B | -896.00M | -1.18B | -825.00M | -617.00M |
| Financing Cash Flow | -1.02B | -839.51M | -866.00M | -691.00M | -950.00M | -676.00M |
Jeronimo Martins SGPS SA Technical Analysis
Negative
48.86
Price Trends
43.97
Negative
46.04
Negative
46.83
Negative
Market Momentum
-1.08
Positive
30.90
Neutral
7.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JRONY, the sentiment is Negative. The current price of 48.86 is above the 20-day moving average (MA) of 41.25, above the 50-day MA of 43.97, and above the 200-day MA of 46.83, indicating a bearish trend. The MACD of -1.08 indicates Positive momentum. The RSI at 30.90 is Neutral, neither overbought nor oversold. The STOCH value of 7.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JRONY.
Jeronimo Martins SGPS SA Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $3.82B | 45.72 | 13.54% | ― | 10.01% | 22.30% | |
66 Neutral | $16.12B | 49.24 | 7.13% | ― | 8.45% | -12.95% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | $20.43B | 31.23 | 15.27% | ― | 3.67% | 36.66% | |
61 Neutral | $37.29B | 21.96 | 81.92% | 2.84% | 3.44% | -6.81% | |
59 Neutral | $12.33B | 17.13 | 20.47% | 2.78% | 16.73% | 9.53% | |
57 Neutral | $3.09B | -82.25 | -2.43% | ― | -3.22% | 44.69% |
* Consumer Defensive Sector Average
JRONY
Jeronimo Martins SGPS SA
39.77
-8.14
-16.98%
SYY
Sysco
79.28
5.53
7.50%
CHEF
The Chefs' Warehouse
94.18
29.77
46.22%
UNFI
United Natural Foods
51.48
29.81
137.56%
PFGC
Performance Food Group
104.39
17.62
20.31%
USFD
US Foods Holding
94.01
17.32
22.58%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.