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Jeronimo Martins is undervalued after a 13% YTD drop despite robust revenue and EBITDA growth. Recent margin compression, mainly from Poland and Portugal, appears cyclical rather than being a permanent negative shift. Ara, the company's Colombian unit, is growing rapidly and could potentially command a much higher valuation if spun off.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Jerónimo Martins remains a defensive 'Buy' despite recent post-earnings underperformance and margin normalization concerns. I expect FY 2026 and FY 2027 EBITDA margins to normalize near 5%, with projected EBITDA of €1.91 billion and FCF around €710 million. Ara's long-term growth potential in Colombia could be underestimated, with store expansion possibly tripling current EBITDA to €360 million.
Jerónimo Martins, SGPS, S.A. (JRONY) Q4 2025 Earnings Call Transcript
Jeronimo Martins SGPS SA (OTCMKTS:JRONY - Get Free Report) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $48.49 and traded as low as $46.7250. Jeronimo Martins SGPS shares last traded at $47.36, with a volume of 4,095 shares trading hands. Wall Street Analyst
Jerónimo Martins (JRONY) remains a strong, defensive growth pick, outperforming the S&P and delivering robust Q3 results across its core markets. JRONY's Biedronka brand continues to gain market share in Poland, with expansion into Slovakia positioned as a key medium-term growth driver. Margins, cash flow, and store expansion remain healthy, with the company trading at attractive valuation multiples for international grocery exposure.
Jerónimo Martins, SGPS, S.A. (OTCPK:JRONY) Q3 2025 Earnings Call October 30, 2025 5:00 AM EDT Company Participants Ana Virgínia - Chief Financial Officer Conference Call Participants William Woods - Sanford C.
Jerónimo Martins (JRONY) is rated 'Buy' for its multinational growth, resilient cash flow, and defensive positioning despite ranking low in SA Quant's Food Retail category. JRONY's expansion in Poland, Colombia, and Slovakia, plus strategic joint ventures, drive above-average growth versus defensive peers, though shareholder yield remains modest. Risks include heavy reliance on Poland, regulatory interventions, currency volatility in Colombia, and slow growth in Portugal, warranting a discounted valuation multiple.
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