J Sainsbury (SBRY)

Share Price · 4:52pm

376.5p

Day's Change

-0.7 -0.2%

Market Cap £7.12bn

Enterprise Value £9.35bn

Market Cap Rank 98th

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MOMENTUM

Relative Strength (%)
1m	-7.7%
3m	+6.6%
1yr	+1.3%

Volume Change (%)
10d vs 3m	+38.2%

Price vs... (%)
52w High	-5.4%
50d MA	+0.28%
200d MA	+8.15%

vs.
market vs.
industry GROWTH & VALUE

12m Forecast Rolling
PE Ratio (f)	12.1		J Sainsbury's P/E Rolling 1y is ranked 6th out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 11.1 vs. SBRY: 12.1 ) Rankings Guide	J Sainsbury's P/E Rolling 1y is ranked 420th out of 957 Companies in the Market. ( Market Median: 13.0 vs. SBRY: 12.1 ) Rankings Guide
PEG Ratio (f)	2.88		J Sainsbury's PEG Rolling is ranked 7th out of 7 Companies in the Food & Drug Retailing Industry. ( Industry Median: 0.42 vs. SBRY: 2.88 ) Rankings Guide	J Sainsbury's PEG Rolling is ranked 594th out of 660 Companies in the Market. ( Market Median: 0.90 vs. SBRY: 2.88 ) Rankings Guide
EPS Growth (f)	4.37	%	J Sainsbury's EPS Gwth % Rolling 1y is ranked 7th out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 6.30 vs. SBRY: 4.37 ) Rankings Guide	J Sainsbury's EPS Gwth % Rolling 1y is ranked 614th out of 812 Companies in the Market. ( Market Median: 13.5 vs. SBRY: 4.37 ) Rankings Guide
Dividend Yield (f)	4.58	%	J Sainsbury's Yield % Rolling 1y is ranked 3rd out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 4.04 vs. SBRY: 4.58 ) Rankings Guide	J Sainsbury's Yield % Rolling 1y is ranked 141st out of 1716 Companies in the Market. ( Market Median: 0.000 vs. SBRY: 4.58 ) Rankings Guide

Valuation (ttm)
Price to Book Value	1.29		J Sainsbury's P/B is ranked 4th out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 1.29 vs. SBRY: 1.29 ) Rankings Guide	J Sainsbury's P/B is ranked 759th out of 1607 Companies in the Market. ( Market Median: 1.38 vs. SBRY: 1.29 ) Rankings Guide
Price to Tang. Book	1.33		J Sainsbury's P/TB is ranked 2nd out of 8 Companies in the Food & Drug Retailing Industry. ( Industry Median: 4.15 vs. SBRY: 1.33 ) Rankings Guide	J Sainsbury's P/TB is ranked 505th out of 1362 Companies in the Market. ( Market Median: 2.02 vs. SBRY: 1.33 ) Rankings Guide
Price to Free Cashflow	n/a		J Sainsbury's P/FCF is n/a ( Industry Median: 40.9 vs. SBRY: ) Rankings Guide	J Sainsbury's P/FCF is n/a ( Market Median: 17.4 vs. SBRY: ) Rankings Guide
Price to Sales	0.32		J Sainsbury's P/S is ranked 3rd out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 0.38 vs. SBRY: 0.32 ) Rankings Guide	J Sainsbury's P/S is ranked 214th out of 1499 Companies in the Market. ( Market Median: 1.53 vs. SBRY: 0.32 ) Rankings Guide
EV to EBITDA	6.66		J Sainsbury's EV/ EBITDA is ranked 4th out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 6.66 vs. SBRY: 6.66 ) Rankings Guide	J Sainsbury's EV/ EBITDA is ranked 329th out of 1072 Companies in the Market. ( Market Median: 9.80 vs. SBRY: 6.66 ) Rankings Guide

IMPLIED MARGIN OF SAFETY (beta)

◀ ▶ SCREENS PASSED 3

SBRY qualifies for James O'Shaugnessy's Cornerstone Va… (in Value Investing).

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SBRY qualifies for Large Cap Dividend Attraction Scree… (in Income Investing).

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SBRY qualifies for Winning Growth & Income (in Income Investing).

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vs.
market vs.
industry QUALITY

Return on Capital	9.57	%	J Sainsbury's ROCE % is ranked 6th out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 9.57 vs. SBRY: 9.57 ) Rankings Guide	J Sainsbury's ROCE % is ranked 514th out of 1646 Companies in the Market. ( Market Median: 3.06 vs. SBRY: 9.57 ) Rankings Guide
Return on Equity	11.1	%	J Sainsbury's ROE % is ranked 6th out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 11.1 vs. SBRY: 11.1 ) Rankings Guide	J Sainsbury's ROE % is ranked 500th out of 1613 Companies in the Market. ( Market Median: 2.97 vs. SBRY: 11.1 ) Rankings Guide
Operating Margin	3.95	%	J Sainsbury's Op Mgn % is ranked 6th out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 3.95 vs. SBRY: 3.95 ) Rankings Guide	J Sainsbury's Op Mgn % is ranked 798th out of 1514 Companies in the Market. ( Market Median: 4.95 vs. SBRY: 3.95 ) Rankings Guide

Balance Sheet · Income Statement · Cashflow FINANCIAL SUMMARY

Year End 17th Mar		2007	2008	2009	2010	2011	2012	TTM	2013E	2014E	CAGR / Avg
Revenue	£m	17,151	17,837	18,911	19,964	21,102	22,294	22,761	23,420	24,265	+5.4%
Operating Profit	£m	520	530	673	710	851	874	898			+10.9%
Net Profit	£m	325	329	289	585	640	598	616	581.9	599.2	+13.0%
EPS Reported	p	18.9	18.6	16.4	31.6	33.8	31.5	32.4			+10.8%
EPS Normalised	p	18.9	18.3	14.4	29.9	29.3	28.2	28.8	30.0	31.3	+8.3%
EPS Growth	%	+399.7	-2.9	-21.6	+107.8	-2.1	-3.8	+2.1	+6.39	+4.37
PE Ratio	x						13.4	13.1	12.6	12.1
PEG	x						2.10	2.05	2.88	1.72
Profitability
Operating Margin	%	3.0	3.0	3.6	3.6	4.0	3.9	3.95			+3.5%
ROA	%		3.3	2.9	5.6	5.8	5.0	4.92
ROCE	%	7.6	7.1	9.5	8.8	10.1	9.5	9.57			+8.8%
ROE	%		7.1	6.2	12.5	12.3	10.8	11.1			+9.8%
Cashflow
Op. Cashflow ps	p	43.3	45.9	52.1	53.7	44.5	55.3	59.1			+5.0%
Capex ps	p	45.6	55.4	55.4	55.9	59.9	64.9	61.5			+7.3%
Free Cashflow ps	p	-2.38	-9.51	-3.29	-2.19	-15.5	-9.59	-2.38
Last ex-div: 15th May, paid: 12th Jul more... Dividends
Dividend ps	p	9.75	12.0	13.2	14.2	15.1	16.1	16.4	16.7	17.3	+10.6%
Dividend Growth	%	+21.9	+23.1	+10.00	+7.58	+6.34	+6.62	+1.86	+3.56	+3.54
Dividend Yield	%						4.27	4.35	4.42	4.58
Dividend Cover	x	1.94	1.55	1.24	2.22	2.24	1.96	1.98	1.80	1.81
Balance Sheet
Cash etc	£m	1,128	719	627	837	501	739	551			-8.1%
Working Capital	£m	-806	-930	-1,328	-940	-1,221	-1,104	-1,223
Net Fixed Assets	£m	7,486	8,228	8,282	8,858	9,527	10,148	10,451			+6.3%
Net Debt	£m	1,335	1,483	1,704	1,593	1,912	2,028	2,225			+8.7%
Book Value	£m	4,349	4,935	4,376	4,966	5,424	5,629	5,501			+5.3%
Average Shares	m	1,720	1,767	1,763	1,873	1,921	1,930	1,932			+2.3%
Book Value ps	p	250.8	282.5	249.6	266.9	289.9	298.9	291.3			+3.6%

FINANCIAL BRIEF: For the 28 weeks ended 29 September 2012, J Sainsbury plc revenues increased 4% to L12.16B. Net income increased 6% to L320M. Revenues reflect Value of Retail Sales-(Including VAT) increase of 4% to L13.37B. Net income benefited from Food Retailing - UK segment income increase of 4% to L412M. Dividend per share remained flat at L0.05. Basic Earnings per Share excluding Extraordinary Items increased from L0.16 to L0.17. more »

6 Piotroski F-Score

HEALTH TREND

1.89 Altman Z2-Score

BANKRUPTCY RISK

EARNINGS MANIPULATION RISK

1141 71% B+

MAGIC FORMULA SCORE

B+

OTHER RATIOS

Leverage (ttm)		Total	Ex Intang
Gross Gearing	%	50.5	52.0
Net Gearing	%	40.4	41.7
Cash / Assets	%	4.35

Liquidity (ttm)
Current Ratio	0.63
Quick Ratio	0.32
Interest Cover	9.37

Efficiency (ttm)
Asset Turnover	1.82
Rec's Turnover	64.4
Stock Turnover	22.0

vs.
market vs.
industry RECENT HISTORY

Latest interim period (ended 29th Sep '12) vs. prior year
Sales Growth	3.99	%	J Sainsbury's Sales Gwth % Q on PYQ is ranked 2nd out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: -0.65 vs. SBRY: 3.99 ) Rankings Guide	J Sainsbury's Sales Gwth % Q on PYQ is ranked 704th out of 1416 Companies in the Market. ( Market Median: 3.88 vs. SBRY: 3.99 ) Rankings Guide
EPS Growth	4.14	%	J Sainsbury's EPS Gwth % Q on PYQ is ranked 4th out of 8 Companies in the Food & Drug Retailing Industry. ( Industry Median: 4.86 vs. SBRY: 4.14 ) Rankings Guide	J Sainsbury's EPS Gwth % Q on PYQ is ranked 434th out of 813 Companies in the Market. ( Market Median: 7.59 vs. SBRY: 4.14 ) Rankings Guide
3yr Average Annualised
Sales Growth	5.64	%	J Sainsbury's Sales 3y CAGR % is ranked 4th out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 5.54 vs. SBRY: 5.64 ) Rankings Guide	J Sainsbury's Sales 3y CAGR % is ranked 746th out of 1437 Companies in the Market. ( Market Median: 6.35 vs. SBRY: 5.64 ) Rankings Guide
EPS Growth	25.1	%	J Sainsbury's EPS 3y CAGR % is ranked 2nd out of 9 Companies in the Food & Drug Retailing Industry. ( Industry Median: 7.35 vs. SBRY: 25.1 ) Rankings Guide	J Sainsbury's EPS 3y CAGR % is ranked 187th out of 761 Companies in the Market. ( Market Median: 8.79 vs. SBRY: 25.1 ) Rankings Guide
DPS Growth	6.84	%	J Sainsbury's DPS 3y CAGR is ranked 5th out of 7 Companies in the Food & Drug Retailing Industry. ( Industry Median: 6.84 vs. SBRY: 6.84 ) Rankings Guide	J Sainsbury's DPS 3y CAGR is ranked 328th out of 664 Companies in the Market. ( Market Median: 6.75 vs. SBRY: 6.84 ) Rankings Guide

GRAPHICAL HISTORY Current Fiscal Year 2013

BROKER FORECASTS

17th Mar 2013

17th Mar 2014

Price Target: 365.9p (-3.01% below Price)	Net Profit	EPS	DPS	Net Profit	EPS	DPS
Est. Long Term Growth Rate: +7.2%	(£)	(p)	(p)	(£)	(p)	(p)
Consensus Estimate	581.9m	30.0	16.7	599.2m	31.3	17.3
1m Change	-	-	-	-7.32m	-0.16	-0.092
3m Change	-	-	-	+3.91m	+0.29	-0.12

24 brokers

BROKER CONSENSUS & FORECAST TREND

Broker Recommendations for J Sainsbury

Recommendation:	Strong Sell	Sell	Hold	Buy	Strong Buy
No. of Analysts:	2	4	13	3	2

Named Brokers and Analysts

Jefferies & Company, Inc. James Grzinic , Credit Suisse Andrew Kasoulis , Sanford Bernstein , Investec Bank (UK) Plc Dave McCarthy , ING FM , BBVA Global Markets Research , Nomura Securities Fraser Ramzan , Jefferies International Ltd , Arden Partners Nick Bubb , Seymour Pierce , Panmure Gordon Philip Dorgan , Santander GBM , Altium Securities (Hist). , Numis Securities , Natixis P-Edouard Boudot Antoine Parison , Collins Stewart & Co , CA Cheuvreux , Macquarie Research Sreedhar Mahamkali , Societe Generale , Evolution Securities (Hist) , Berenberg , Charles Stanley Sam Hart , MF Global (Historical) , Shore Capital Stockbrokers Clive Black , Espirito Santo Investment Bank , Morningstar, Inc. , Day by Day Valerie Gastaldy , Matrix Corporate Capital LLP , Alphavalue Virginie Blin , Cantor Fitzgerald Europe Mike Dennis ,

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PROFILE INFORMATION

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. The Company’s Click & Collect service allows customers to place general merchandise orders online by 2pm for collection the following day from over 900 stores. Its general merchandise Website offers more than 6,000 branded and own brand products. In October 2011, it acquired online entertainment company, Global Media Vault Limited. In June 2012, J Sainsbury PLC acquired HMV Group plc's holding in Anobii Limited.

Directors: Justin King (CEO) 51, John Rogers (CFO) 43, Roger Burnley (Mgng.Dir.) , Mike Coupe (Exec. Dir.) 51, Sarah Warby (Dir.-Mktg.) , Helen Buck (Other) , Gwyn Burr (Other) 50, Rob Fraser (Other) , Luke Jensen (Other) , Neil Sachdev (Other) ,

No. of Employees: 48,800 No. of Shareholders: n/a

Last Annual	March 17th, 2012
Last Interim	September 29th, 2012
Shares in Issue	1,888,282,096
Free Float	1.66bn (87.7%)

Sector	Consumer Defensives
Industry	Food & Drug Retailing
Index	FTSE Eurofirst 100 , FTSEUROFIRST 300 , E300 ex EURO COR, FTSE Higher Yield , FTSE 350 Act , FT350 Fd&drg Ret , FTSE 100 , FTSE 100 Eod Gbp ,
Exchange	London Stock Exchange (Full)
Eligible for	an ISA? a SIPP?

Address	33 Holborn, LONDON, EC1N 2HT, United Kingdom
Web	http://www.j-sainsbury.co.uk/
Phone	+44 20 76956000
Contact	Adam Katsibas (Head - Investor Relations)
Registrar	Computershare Investor Services PLC (Bristol)
Auditors	PricewaterhouseCoopers LLP

SBRY SHARE PRICE PERFORMANCE SBRY QUOTE

SBRY Share Price GBp

376.5p

Day's Change

-0.7 -0.2%

Traded 4:52pm · Minimum 15 min delayed

Volume 4,701,621	Bid - Ask 376.5 - 376.6	Day's Range 374.1 - 387.9	Spread 3bps
Avg Vol (3m) 5,009,520	Open - Close 377.6 - 377.2	12m Range 258.0 - 398.6	Beta 0.61

LATEST SBRY NEWS ANNOUNCEMENTS (delayed)

Fri 4:01pm	Director/PDMR Shareholding
Fri 4:00pm	Director/PDMR Shareholding
10th May	Director/PDMR Shareholding
8th May	Final Results
8th May	Directorate Change
8th May	Acquisition