Jeronimo Martins, SGPS S.A.

Jeronimo Martins, SGPS S.A.

18.59
EUR
+0.24
(+1.31%)
1.03EPS
16.80P/E
10.69BMarket Cap
Oct 28Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
18.82
20.18
21.84
23.27
25.9
27.59
29.66
30.7
33.24
40.39
48.58
53.07
57.27
58.72
Basic EPS, GAAP
0.61
0.48
0.53
0.94
0.61
0.64
0.62
0.5
0.74
0.94
1.2
0.95
1.03
1.01
Free Cash Flow per Basic Share
0.27
0.37
0.74
0.64
0.39
0.23
1.46
1.49
1.81
1.92
1.33
1.03
2.18
1.9
Dividend per Share
0.34
0.33
0.65
0.29
0.69
0.64
0.35
0.37
0.32
0.81
0.58
0.68
0.62
- -
Book Value per Share
2.07
2.22
2.13
2.77
2.84
2.83
3.14
3.2
3.62
3.71
4.48
4.78
5.24
4.98
Tangible Book Value per Share
0.79
0.94
0.85
1.51
1.55
1.57
1.88
1.99
2.42
2.51
3.22
3.52
3.94
3.69
Basic Weighted Avg Shares
628
628
628
628
628
628
628
628
628
628
630
631
628
628
Sales/Revenue/Turnover
11,829
12,680
13,728
14,622
16,276
17,337
18,638
19,293
20,889
25,385
30,608
33,464
35,991
36,877
Operating Margin (%)
4.49
3.59
3.68
3.87
3.61
3.44
3.85
3.45
3.93
3.94
3.99
3.3
3.41
3.41
Depreciation Expense
249
277
295
294
331
364
715
734
745
782
902
1,043
1,143
1,199
Net Income, GAAP
382
302
333
593
385
401
390
312
463
590
756
599
646
636
Effective Tax Rate (%)
22.02
24.19
24.56
17.46
26.95
23.48
23.39
29.63
25.77
25.43
23.62
24.34
25.48
25.8
Profit Margin (%)
3.23
2.38
2.43
4.06
2.37
2.31
2.09
1.62
2.22
2.32
2.47
1.79
1.79
1.72
Working Capital
-1,642
-1,652
-1,664
-1,758
-2,101
-2,226
-2,636
-2,307
-2,213
-2,608
-3,159
-3,083
-3,403
-3,259
LT Debt
369
374
534
115
238
288
2,308
2,261
2,340
2,486
3,133
3,816
4,171
4,780
Total Equity
1,539
1,639
1,593
1,991
2,013
2,016
2,229
2,257
2,532
2,585
3,067
3,253
3,529
3,354
Return on Invested Capital (%)
17.73
13.73
15.27
18.39
16.36
16.29
12.99
8.37
11.1
12.69
13.55
10.19
10.14
10.1
Return on Capital (%)
18.59
13.19
14.21
25.44
15.13
14.94
12.02
7.79
10.56
12.53
14.23
10.79
10.49
10.18
Return on Common Equity (%)
31.52
22.35
24.35
38.52
21.86
22.49
20.78
15.67
21.61
25.6
29.39
20.58
20.52
21.07

Capital Structure

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,401
1,205
1,241
LT Borrowings
519
514
627
LT Finance Leases
3,652
3,984
4,153
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
628
628
628
Market Capitalization
12,720
12,908
10,690

Working Capital

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
5,606
5,366
5,141
Cash, Cash Equivalents & STI
2,268
1,826
1,585
Accounts Receivable, Net
78
90
100
Inventories
2,275
2,381
2,312
Total Current Liabilities
9,009
8,444
8,400
Payables & Accruals
- -
- -
- -
ST Debt
1,401
1,205
1,241
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.55%
9.49%
8.48%
Free Cash Flow
52.44%
17.1%
110.79%
Net Income, GAAP
11.53%
18.21%
7.85%
Sales/Revenue/Turnover
10.26%
13.45%
7.55%
Total Cash Common Dividend
15.73%
24.62%
-9.56%

Quarterly Revenue

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8,066
8,232
8,467
8,699
33,464
2025
8,377
9,020
9,138
9,457
35,991
2026
8,904
9,378
- -
- -
- -

Quarterly Earnings Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.15
0.25
0.3
0.25
0.95
2025
0.2
0.23
0.34
0.26
1.03
2026
0.19
0.22
- -
- -
- -

Quarterly Dividends Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.03
- -
0.68
2025
- -
- -
- -
- -
0.62
2026
- -
- -
- -
- -
- -

Company Description

CEO
Pedro Manuel de Castro Soares dos Santos
Full Time Employees
147,709
Sector
Retail trade
Industry
Food retail
Address
Rua Actor AntOnio Silva n. o 7 Lisbon LIS Portugal 1649-033
IPO Date
Jan 1, 1989
Business
Jerónimo Martins, SGPS, S.A. operates as a leading food distribution and specialized retail group with core products and services encompassing supermarket chains, cash & carry stores, proximity food stores, and agri-food production. Its main retail banners include Biedronka in Poland, Pingo Doce and Recheio in Portugal, and Ara and Bodega del Canasto in Colombia, providing a wide range of food products, consumer goods, and specialized services such as food service delivery to HoReCa clients. The company also operates additional retail formats such as Jeronymo coffee shops and Hussel confectionery stores, supported by vertically integrated agri-food activities covering dairy, livestock farming, aquaculture, and fruit and vegetables. Jerónimo Martins maintains a significant presence in Portugal, Poland, Colombia, and Slovakia, with its headquarters in Lisbon and a founding year of 1792. In the last two years, Jerónimo Martins has undertaken a major expansion and strategic investment program, highlighted by a planned investment of approximately €1.1 billion in 2025 focused on store openings and renovations primarily in Poland (Biedronka), Colombia (Ara), and Portugal (Pingo Doce and Recheio). The company aims to open over 300 stores in 2025, including integrating around 70 former Colsubsidio stores into Ara in Colombia and expanding its footprint in Slovakia. Strategic partnerships and acquisitions include the recent acquisition of the Portuguese fruit and vegetable producer Luís Vicente Group and an 18.06% stake in Norwegian fish farmer Norcod, strengthening its agri-food business and international distribution platform. Jerónimo Martins pursues a long-term goal of reaching €50 billion in sales by 2030 through organic growth and a more aggressive M&A approach while maintaining strong operational agility and market share growth. Its financial performance remains robust with increased net sales and EBITDA growth, driven by competitive pricing, operational expansion, and enhanced market presence in core regions. Overall, Jerónimo Martins positions itself as a comprehensive food distribution leader with diversified retail formats and strong agri-food integration, focused on geographic expansion in Europe and Latin America and strategic investment in its retail and production capacities to capture growth opportunities across multiple markets.

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