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Flags

Financial distress

São Martinho

SAO:SMTO3 · BRSMTOACNOR3
Food ProductsMedium

360

3
EV / EBIT50
Price / Owner Earnings3
Owner Earnings Yield18
Dividend Yield63
Price/Sales68
EV / Gross Profit14
Price/Book96
Return on Capital40
Cash Return on Capital18
Return on Equity56
EBIT Margin95
Gross Profitability1
Cash Conversion81
Accruals7
Owner Earnings Margin20
Sales growth1
Profit Growth67
Long-Term EPS Growth87
Reinvestment100
Price momentum31
Debt load13
Refinancing59
Debt Payback5
Liquidity19
Analyst ratings25
Opinion Changes50
Price Target Upside49
Market mood1
Value Creation8/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

São Martinho clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryBrazil
IndustryFood Products
SizeMedium
TypePublic Company
ExchangeBOVESPA
Employees1,942
Websitesaomartinho.com.br
ISINBRSMTOACNOR3
Last UpdateApr 2, 2026
Index & Theme
Animal FeedBio-based and Renewable MaterialsBiofuelClean EnergyBiomass EnergyFood ProcessingIndustrialManufacturing

Description

Analysis

Hope premium

São Martinho S.A. is priced well ahead of what the underlying numbers justify, a pattern we describe as a hope premium.

On valuation, the picture is expensive. The owner-earnings multiple stands at 201.0×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 38% a year, against analyst forecasts of 15%. The market is pricing in far more than analysts expect: heroic expectations.

Growth is tepid; the safety picture is stretched. The company scores 8/20 on our value-creation score: creating some value. Analyst sentiment is cautious.

Flags to be aware of: Some accounting patterns deserve a closer look. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
32
2023202420252026

All-time high

53

Jan 2024

All-time low

32

Jun 2026

Average rank

42

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
68
55
52
49
Price/Earnings
74
78
87
89
Price/Book
96
83
63
57
Dividend Yield
63
100
97
83
Value (overall)
89
87
87
69

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →