Fair value falls to EUR 22.51 for Jeronimo Martins stock

Published on 10/12/2026 at 09:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fair value shifted from EUR 23.03 to EUR 22.51. Jeronimo Martins stock grew sales to EUR 18.30 billion in the first half of 2026, up 5.10 percent.

Key points in brief

Modeled fair value moved from EUR 23.03 to EUR 22.51 in an October 2026 analyst update.
First-half 2026 sales reached EUR 18.30 billion, up 5.10 percent, while EBITDA rose 7.60 percent to EUR 1.20 billion.
Jeronimo Martins was last at EUR 17.13 on Euronext Lisbon on October 9, 2026, with a 52-week range of EUR 15.90 to EUR 22.68.
The company operates food retail and specialized distribution businesses across Portugal, Poland and Colombia.

Aquarellmalerei der Lissabon-Skyline mit Tejo-Fluss und bunten Häusern am Hang — Jerónimo Martins SGPS SA (PTJMT0AE0001) hat ihren Firmensitz in Lissabon, hier als stimmungsvolles Aquarellgemälde dargestellt, Illustration mit AI erstellt.

Fair value for Jeronimo Martins stock moved from EUR 23.03 to EUR 22.51 in an October 8, 2026 report from Yahoo Finance. The change puts valuation assumptions at the center of the investment case, while the latest operating figures show sales growth alongside persistent food-price pressure.

Analysts split on valuation

The Yahoo Finance report said Jefferies lifted its target to EUR 21.00 from EUR 18.00 and moved to a Buy rating. Citi retained Buy while reducing its target to EUR 22.70 from EUR 24.20, and Erste Group set a EUR 21.30 target after upgrading the stock to Buy.

JPMorgan kept an Overweight stance but cut its target to EUR 20.60 from EUR 23.00, according to the same October 2026 report. The spread between these targets and the EUR 22.51 modeled fair value shows why the stock's valuation debate is more important than a single broker view.

Three milestones in 2026

On March 19, 2026, Jeronimo Martins published its fiscal 2025 results, with sales of EUR 35.99 billion and EBITDA of EUR 2.48 billion, as listed on the company's investor page. The company then reported first-quarter 2026 revenue of EUR 8.90 billion through its May 6 results release.

On July 29, 2026, Jeronimo Martins released first-half results. The period delivered sales of EUR 18.30 billion, up 5.10 percent, and EBITDA of EUR 1.20 billion, up 7.60 percent, according to the Yahoo Finance transcript of the results call.

What the half-year delivered

The first-half EBITDA margin reached 6.80 percent, up from 6.60 percent a year earlier. Biedronka generated EUR 12.60 billion of sales, while Ara sales reached EUR 2.00 billion after rising 30.20 percent in euros, making Colombia the clearest growth engine in the reported period.

Management described the second half of 2026 as a period of continued competition, cautious consumers and food deflation. The group also invested EUR 412.00 million in the first half and opened 124 stores, creating a balance between expansion and margin protection.

Last quote and valuation

Jeronimo Martins was last at EUR 17.13 on Euronext Lisbon on October 9, 2026. The 52-week range was EUR 15.90 to EUR 22.68, and market capitalization stood at EUR 10.8 billion on that date. The quote was EUR 5.55 below the 52-week high, a gap of 24.47 percent.

The further course of trading is shown by the continuously updated real-time quote of Jeronimo Martins stock.