1. Portugal Stocks

  2. •

    Consumer Defensive

  3. •

    Food Distribution
Jerónimo Martins, SGPS, S.A.

Jerónimo Martins, SGPS, S.A.

JRONF
Jerónimo Martins, SGPS, S.A.US flagOther OTC
23.70
USD
- -
- -
14.89BMarket Cap
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
57.09
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
1.02
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
2.17
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
0.03
Book Value per Share
2.13
2.3
2.21
2.89
2.9
2.93
3.22
3.37
3.82
3.97
4.61
4.9
5.35
5.33
Tangible Book Value per Share
1.17
1.32
1.25
1.92
1.91
1.95
2.28
2.39
2.82
2.91
3.61
3.9
4.32
4.31
Basic Weighted Avg Shares
628
628
628
628
628
628
628
628
628
628
630
631
628
630
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
35,992
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
1,143
Net Income, GAAP
382
302
333
593
385
401
390
312
463
590
756
599
646
645
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
25.37
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
1.79
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
-3,403
LT Debt
369
374
534
115
238
288
2,308
2,261
2,340
2,486
3,133
3,818
4,172
4,172
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
3,529
Return on Invested Capital (%)
17.93
13.92
15.87
19.42
16.67
16.55
13.2
8.73
11.29
13.01
13.94
10.54
10.34
10.35
Return on Capital (%)
18.34
12.95
13.91
24.75
14.78
14.67
11.86
7.67
10.33
12.21
13.95
10.68
10.41
10.34
Return on Common Equity (%)
30.8
21.66
23.5
36.98
21.17
21.91
20.18
15.05
20.48
24.08
27.97
19.98
20.02
19.99

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
1,270
1,291
1,387
LT Borrowings
454
420
520
LT Finance Leases
3,510
3,553
3,652
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
628
628
628
Market Capitalization
11,508
14,324
12,651

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
4,464
4,601
5,606
Cash, Cash Equivalents & STI
1,453
1,698
2,268
Accounts Receivable, Net
80
86
78
Inventories
2,015
1,992
2,275
Total Current Liabilities
7,886
7,941
9,009
Payables & Accruals
- -
- -
- -
ST Debt
1,270
1,291
1,387
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

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

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
6,804
7,709
7,938
8,157
30,608
2024
8,066
8,232
8,467
8,699
33,464
2025
8,377
9,020
9,138
9,457
35,991

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.22
0.34
0.32
0.32
1.2
2024
0.15
0.25
0.3
0.25
0.95
2025
0.2
0.23
0.34
- -
1.03

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.58
2024
- -
- -
0.03
- -
0.68
2025
- -
- -
0.03
- -
0.62

Company Description

APIChat
CEO
Pedro Manuel de Castro Soares dos Santos
Full Time Employees
119,427
Sector
Consumer Defensive
Industry
Food Distribution
Address
Rua Actor AntOnio Silva n. o 7 Lisbon Portugal 1649-033
IPO Date
Feb 1, 2012
CIK
0001438077
Website
jeronimomartins.com
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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.