Momentum
Relative Strength (%)
1m +2.5%
3m -9.8%
1yr -19.4%
Volume Change (%)
10d v 3m +0.40%
Price vs... (%)
52w High -25.1%
50d MA -2.59%
200d MA -13.8%
vs.
market
vs.
industry
Growth & Value
12m Forecast Rolling
PE Ratio (f) 10.2
PEG Ratio (f) n/a
EPS Growth (f) -1.42 %
Dividend Yield (f) 5.17 %
Valuation (ttm)
Price to Book Value 1.06
Price to Tang. Book 1.09
Price to Free Cashflow 84.9
Price to Sales 0.26
EV to EBITDA 5.76

Margin of Safety (beta)
Screens Passed 3 / 1
vs.
market
vs.
industry
Quality
Return on Capital 9.81 %
Return on Equity 11.1 %
Operating Margin 3.84 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 16th Mar 2008 2009 2010 2011 2012 2013 TTM 2014E 2015E CAGR / Avg
Revenue £m 17,837 18,911 19,964 21,102 22,294 23,303 23,827 24,115 24,803 +5.5%
Operating Profit £m 530 673 710 851 874 882 915 +10.7%
Net Profit £m 329 289 585 640 598 602 631 620.8 604.8 +12.8%
EPS Reported p 18.6 16.4 31.6 33.8 31.5 31.5 32.7 +11.1%
EPS Normalised p 18.3 14.4 29.9 29.3 28.2 29.2 30.1 32.0 31.6 +9.7%
EPS Growth % -2.9 -21.6 +107.8 -2.1 -3.8 +3.6 +3.1 +9.71 -1.42
PE Ratio x 11.0 10.7 10.0 10.2
PEG x 1.13 1.10 n/a n/a
Profitability
Operating Margin % 3.0 3.6 3.6 4.0 3.9 3.8 3.84 +3.6%
ROA % 2.9 5.6 5.8 5.0 4.8 4.93
ROCE % 7.1 9.5 8.8 10.1 9.5 9.2 9.81 +9.0%
ROE % 6.2 12.5 12.3 10.8 10.5 11.1 +10.5%
Cashflow
Op. Cashflow ps p 45.9 52.1 53.7 44.5 55.3 50.4 52.1 +1.9%
Capex ps p 55.4 55.4 55.9 59.9 64.9 56.1 48.4 +0.3%
Free Cashflow ps p -9.51 -3.29 -2.19 -15.5 -9.59 -5.75 3.69
Last ex-div: 20th Nov, paid: 3rd Jan more... Dividends
Dividend ps p 12.0 13.2 14.2 15.1 16.1 16.7 16.9 17.3 16.6 +6.8%
Dividend Growth % +23.1 +10.00 +7.58 +6.34 +6.62 +3.73 +1.20 +3.60 -4.12
Dividend Yield % 5.21 5.27 5.40 5.17
Dividend Cover x 1.55 1.24 2.22 2.24 1.96 1.88 1.94 1.85 1.90
Balance Sheet
Cash etc £m 719 627 837 501 739 517 603 -6.4%
Working Capital £m -930 -1,328 -940 -1,221 -1,104 -1,201 -1,485
Net Fixed Assets £m 8,228 8,282 8,858 9,527 10,148 10,610 10,641 +5.2%
Net Debt £m 1,483 1,704 1,593 1,912 2,028 2,265 2,232 +8.8%
Book Value £m 4,935 4,376 4,966 5,424 5,629 5,837 5,761 +3.4%
Average Shares m 1,767 1,763 1,873 1,921 1,930 1,948 1,951 +2.0%
Book Value ps p 282.5 249.6 266.9 289.9 298.9 308.3 304.3 +1.8%

FINANCIAL BRIEF: For the 28 weeks ended 28 September 2013, J Sainsbury plc revenues increased 4% to L12.68B. Net income increased 9% to L340M. Revenues reflect Value of Retail Sales-(Including VAT) increase of 4% to L13.95B. Net income benefited from Food Retailing - UK segment income increase of 7% to L440M. Dividend per share remained flat at L0.05. Basic Earnings per Share excluding Extraordinary Items increased from L0.17 to L0.18. more »

Health Trend

Bankruptcy Risk

Earnings Manipulation Risk

3717     74%    B+
Magic Formula Score
B+
B+

Other Ratios
Leverage (ttm) Total Ex Intang
Gross Gearing % 49.2 50.8
Net Gearing % 38.7 40.0
Cash / Assets % 4.67
Liquidity (ttm)
Curr. Ratio 0.59
Quick Ratio 0.30
Interest Cov. 11.2
Efficiency (ttm)
Asset Turnover 1.86
Rec's Turnover 69.4
Stock Turnover 22.1

vs.
market
vs.
industry
Recent History
Latest interim period (ended 28th Sep '13) vs. prior year
Sales Growth 4.31 %
EPS Growth 3.10 %
3yr Compound Annual Growth Rate
Sales Growth 5.29 %
EPS Growth -0.81 %
DPS Growth 5.55 %
Graphical History Current Fiscal Year 2014

Broker Forecasts
16th Mar 2014
16th Mar 2015

Price Target: 334.8 (+4.41% above Price) Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: +5.7% (£) (p) (p) (£) (p) (p)
Consensus Estimate 620.8m 32.0 17.3 604.8m 31.6 16.6
1m Change -4.16m -0.27 -0.11 -34.2m -1.94 -1.14
3m Change +1.23m -0.17 -0.12 -44.5m -2.53 -1.47
22 brokers Broker Consensus Trend
Broker Recommendations for J Sainsbury
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 1 3 12 4 2

Named Brokers and Analysts
Jefferies & Company, Inc. James Grzinic , Credit Suisse Andrew Kasoulis , Sanford Bernstein Bruno Monteyne , Investec Bank (UK) Plc Dave McCarthy , ING FM , Nomura Securities David Payne , Jefferies International Ltd , Arden Partners Nick Bubb , Seymour Pierce , Panmure Gordon Graham Jones , Santander GBM Tim Attenborough , Altium Securities (Hist). , Numis Securities , Natixis Antoine Parison Nicolas Langlet , CA Cheuvreux , Macquarie Research Sreedhar Mahamkali , Societe Generale Arnaud Joly , Evolution Securities (Hist) , Berenberg , Charles Stanley Sam Hart , MF Global (Historical) , Shore Capital Stockbrokers Clive Black , Espirito Santo Investment Bank Rickin Thakrar , Morningstar, Inc. Ken Perkins , Day by Day Valérie GASTALDY , Matrix Corporate Capital LLP , Alphavalue Virginie Blin , Cantor Fitzgerald Europe Mike Dennis ,

J Sainsbury plc is engaged in grocery and related retailing. The Company is organized into three segments: Retailing (Supermarkets and Convenience); Financial services (Sainsbury’s Bank joint venture), and Property investments (The British Land Company PLC joint venture and Land Securities PLC joint venture). As of March 17, 2012, the Company operated over 1,000 stores comprising 572 supermarkets and 440 convenience stores. Investment properties held by the Company are those contained within its joint ventures with Land Securities Group PLC and The British Land Company PLC. In October 2011, the Company acquired online entertainment company, Global Media Vault Limited. In June 2012, J Sainsbury PLC acquired HMV Group plc's holding in Anobii Limited, a social network and online retailer of e-books. Effective January 31, 2014, J Sainsbury PLC acquired the remaining 50% interest in Sainsbury's Bank PLC.

Directors: Mike Coupe (CEO) 53, Justin King (CEO) 52, John Rogers (CFO) 44, Roger Burnley (Mgng.Dir.) , Sarah Warby (Dir.-Mktg.) , Angie Risley (Dir.-HR) 54, Helen Buck (Other) 52, Rob Fraser (Other) , Luke Jensen (Other) , Neil Sachdev (Other) ,

No. of Employees: 49,100 No. of Shareholders: 118,144


Last Annual March 16th, 2013
Last Interim September 28th, 2013
Shares in Issue 1,907,663,242
Free Float 1.74bn (91.2%)
ISIN GB00B019KW72

SBRY Share Price Performance SBRY Quote
314p
-6.6  -2.1%
Traded 5:08pm · Minimum 15 min delayed · NMS: 5.00k

Latest SBRY News Announcements (delayed)

Upcoming SBRY Events
Wednesday 7th May, 2014
Preliminary 2013/14 J Sainsbury PLC Earnings Release
Wednesday 11th June, 2014
J Sainsbury PLC Q1 2014- 2015 Trading Statement
Wednesday 9th July, 2014
J Sainsbury PLC Annual General Meeting
Wednesday 1st October, 2014
J Sainsbury PLC Q2 2014- 2015 Trading Statement

Recent ↓
Tuesday 18th March, 2014
J Sainsbury PLC Q4 2013- 2014 Trading Statement Conference Call
Tuesday 18th March, 2014
J Sainsbury PLC Q4 2013- 2014 Trading Statement
Thursday 20th February, 2014
J Sainsbury PLC Bank Analyst Seminar
Wednesday 8th January, 2014
J Sainsbury PLC Q3 2013- 2014 Trading Statement Conference Call
Wednesday 8th January, 2014
J Sainsbury PLC Q3 2013- 2014 Trading Statement
Thursday 21st November, 2013
Dividend For JSAIY
Wednesday 20th November, 2013
Dividend For SBRY.L
Wednesday 13th November, 2013
Interim 2013/14 J Sainsbury PLC Earnings Conference Call
Wednesday 13th November, 2013
Interim 2013/14 J Sainsbury PLC Earnings Release
Wednesday 2nd October, 2013
J Sainsbury PLC Q2 2013 Trading Statement


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