Momentum
Relative Strength (%)
1m -9.6%
3m -10.7%
1yr -30.3%
Volume Change (%)
10d v 3m -4.43%
Price vs... (%)
52w High -33.6%
50d MA -7.39%
200d MA -14.6%
vs.
market
vs.
industry
Growth & Value
12m Forecast Rolling
PE Ratio (f) 9.77
PEG Ratio (f) n/a
EPS Growth (f) -4.35 %
Dividend Yield (f) 5.63 %
Valuation (ttm)
Price to Book Value 0.91
Price to Tang. Book 0.96
Price to Free Cashflow 543.9
Price to Sales 0.23
EV to EBITDA 4.25

Margin of Safety (beta)
Screens Passed 5
vs.
market
vs.
industry
Quality
Return on Capital 10.3 %
Return on Equity 12.3 %
Operating Margin 4.21 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 15th Mar 2009 2010 2011 2012 2013 2014 2015E 2016E CAGR / Avg
Revenue £m 18,911 19,964 21,102 22,294 23,303 23,949 24,482 24,993 +4.8%
Operating Profit £m 673 710 851 874 882 1,009 +8.4%
Net Profit £m 289 585 640 598 602 716 567.2 553.8 +19.9%
EPS Reported p 16.4 31.6 33.8 31.5 31.5 36.9 +17.6%
EPS Normalised p 14.4 29.9 29.3 28.2 29.2 31.6 29.2 28.9 +17.1%
EPS Growth % -21.6 +107.8 -2.1 -3.8 +3.6 +8.4 -7.61 -0.93
PE Ratio x 8.99 9.73 9.82
PEG x n/a n/a 2.61
Profitability
Operating Margin % 3.6 3.6 4.0 3.9 3.8 4.2 +3.8%
ROA % 5.6 5.8 5.0 4.8 4.9
ROCE % 9.5 8.8 10.1 9.5 9.2 10.3 +9.6%
ROE % 12.5 12.3 10.7 10.4 12.1 +11.6%
Cashflow
Op. Cashflow ps p 52.1 53.7 44.5 55.3 50.4 47.7 -1.7%
Capex ps p 55.4 55.9 59.9 64.9 56.1 47.2 -3.1%
Free Cashflow ps p -3.29 -2.19 -15.5 -9.59 -5.75 0.51
Last ex-div: 14th May, paid: 11th Jul more... Dividends
Dividend ps p 13.2 14.2 15.1 16.1 16.7 17.3 16.1 15.9 +5.6%
Dividend Growth % +10.00 +7.58 +6.34 +6.62 +3.73 +3.59 -6.72 -1.59
Dividend Yield % 6.09 5.68 5.59
Dividend Cover x 1.24 2.22 2.24 1.96 1.88 2.13 1.81 1.82
Balance Sheet
Cash etc £m 627 837 501 739 517 1,592 +20.5%
Working Capital £m -1,328 -940 -1,221 -1,104 -1,214 -2,403
Net Fixed Assets £m 8,282 8,858 9,527 10,148 10,623 11,892 +7.5%
Net Debt £m 1,704 1,593 1,912 2,028 2,265 1,192 -6.9%
Book Value £m 4,376 4,966 5,424 5,721 5,837 6,003 +6.5%
Average Shares m 1,763 1,873 1,921 1,930 1,948 1,969 +2.2%
Book Value ps p 249.6 266.9 289.9 302.2 308.3 314.8 +4.7%

FINANCIAL BRIEF: For the fiscal year ended 15 March 2014, J Sainsbury plc revenues increased 3% to L23.95B. Net income increased 19% to L716M. Revenues reflect Financial Services - UK segment increase from L0K to L28M, Value of Retail Sales-(Including VAT) increase of 3% to L26.35B. Net income benefited from Retailing segment income increase of 5% to L873M, Financial Services - UK segment income totaling L6M vs. L0K. Dividend per share remained flat at L0.17. more »

Health Trend

Bankruptcy Risk

Earnings Manipulation Risk

885     73%    B+
Magic Formula Score
B+
B+

Other Ratios
Leverage (ttm) Total Ex Intang
Gross Gearing % 46.4 48.7
Net Gearing % 19.9 20.9
Cash / Assets % 9.63
Liquidity (ttm)
Curr. Ratio 0.65
Quick Ratio 0.50
Interest Cov. 11.7
Efficiency (ttm)
Asset Turnover 1.63
Rec's Turnover 23.7
Stock Turnover 22.7

vs.
market
vs.
industry
Recent History
Latest interim period (ended 15th Mar '14) vs. prior year
Sales Growth 1.09 %
EPS Growth 13.5 %
3yr Compound Annual Growth Rate
Sales Growth 4.31 %
EPS Growth 2.60 %
DPS Growth 4.64 %
Graphical History Current Fiscal Year 2015

Broker Forecasts
15th Mar 2015
15th Mar 2016

Price Target: 311.4 (+9.61% above Price) Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: +7.0% (£) (p) (p) (£) (p) (p)
Consensus Estimate 567.2m 29.2 16.1 553.8m 28.9 15.9
1m Change -4.77m -0.40 -0.38 -13.5m -0.77 -0.73
3m Change -12.6m -1.00 -0.49 -25.5m -1.35 -1.17
21 brokers Broker Consensus Trend
Broker Recommendations for J Sainsbury
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 2 2 11 2 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 , Panmure Gordon Graham Jones , Santander GBM Tim Attenborough , Altium Securities (Hist). , Natixis 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 , 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.Effective January 31, 2014, J Sainsbury PLC acquired the remaining 50% interest in Sainsbury's Bank PLC. Effective August 07, 2014, J Sainsbury PLC acquired a remaining 36% interest in Anobii Ltd.

Directors: Mike Coupe (CEO) 53, John Rogers (CFO) 44, Peter Griffiths (CEX) 53, Sarah Warby (DMK) , Angie Risley (DHR) 54, James Brown (OTH) , Helen Buck (OTH) 52, Roger Burnley (OTH) , Dean Clegg (OTH) , Paul Mills-Hicks (OTH) , David Tyler (NEC) 61, Susan Rice (NED) , Matt Brittin (NID) 44, Mary Harris (NID) 48, Gary Hughes (NID) 51,

No. of Employees: 49,400 No. of Shareholders: 117,937


Last Annual March 15th, 2014
Last Interim March 15th, 2014
Shares in Issue 1,913,852,720
Free Float 1.74bn (91.0%)
ISIN GB00B019KW72

Address 33 Holborn, LONDON, EC1N 2HT, United Kingdom
Web http://www.j-sainsbury.co.uk/
Phone +44 20 76956000
Contact Mike Scott (IR Contact Officer)
Auditors PricewaterhouseCoopers LLP

SBRY Share Price Performance SBRY Quote
282p
-2.2  -0.8%
Traded 5:08pm · Minimum 15 min delayed · NMS: 5.00k

Latest SBRY News Announcements (delayed)

Upcoming SBRY Events
Wednesday 1st October, 2014
Q2 2014- 2015 J Sainsbury PLC Trading Statement
Wednesday 12th November, 2014
Interim 2014/15 J Sainsbury PLC Earnings Release
Wednesday 7th January, 2015
Q3 2014-15 J Sainsbury PLC Trading Statement
Tuesday 17th March, 2015
Q4 2014-15 J Sainsbury PLC Trading Statement
Thursday 9th July, 2015 (estimate)
J Sainsbury PLC Annual Shareholders Meeting

Recent ↓
Wednesday 9th July, 2014
J Sainsbury PLC Annual Shareholders Meeting
Wednesday 11th June, 2014
Q1 2014- 2015 J Sainsbury PLC Trading Statement Conference Call
Wednesday 11th June, 2014
Q1 2014- 2015 J Sainsbury PLC Trading Statement
Thursday 22nd May, 2014
J Sainsbury PLC at Bank of America Merrill Lynch Retail, Transport & Leisure Conference
Thursday 15th May, 2014
Dividend For JSAIY
Wednesday 14th May, 2014
Dividend For SBRY.L
Wednesday 7th May, 2014
Preliminary 2013/14 J Sainsbury PLC Earnings Conference Call
Wednesday 7th May, 2014
Preliminary 2013/14 J Sainsbury PLC Earnings Release
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


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