Financials San Miguel Corporation

Equities

SMC

PHY751061151

Consumer Goods Conglomerates

End-of-day quote Philippines S.E. 06:00:00 2024-05-16 pm EDT 5-day change 1st Jan Change
102.2 PHP -1.45% Intraday chart for San Miguel Corporation -2.39% +0.10%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 350,268 390,959 305,377 273,910 221,583 243,396
Enterprise Value (EV) 1 1,050,927 1,099,422 983,265 1,073,194 1,333,301 1,442,967
P/E ratio 22.2 x 27.7 x -77 x 46.3 x -11.4 x -40.6 x
Yield 0.95% 0.85% 1.09% 1.22% 1.51% 1.37%
Capitalization / Revenue 0.34 x 0.38 x 0.42 x 0.29 x 0.15 x 0.17 x
EV / Revenue 1.03 x 1.08 x 1.35 x 1.14 x 0.88 x 1 x
EV / EBITDA 6.74 x 7.28 x 9.38 x 7.28 x 8.61 x 7.53 x
EV / FCF 154 x 28.2 x 325 x -19.3 x -8.91 x -38.2 x
FCF Yield 0.65% 3.54% 0.31% -5.17% -11.2% -2.62%
Price to Book 1.07 x 1.21 x 0.89 x 0.87 x 0.81 x 0.8 x
Nbr of stocks (in thousands) 2,382,776 2,383,897 2,383,897 2,383,897 2,383,897 2,383,897
Reference price 2 147.0 164.0 128.1 114.9 92.95 102.1
Announcement Date 4/15/19 5/17/20 4/19/21 4/25/22 4/18/23 4/16/24
1PHP in Million2PHP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,024,943 1,020,502 725,797 941,193 1,506,591 1,446,703
EBITDA 1 155,926 151,027 104,875 147,386 154,821 191,736
EBIT 1 120,055 117,145 73,478 113,346 112,882 146,568
Operating Margin 11.71% 11.48% 10.12% 12.04% 7.49% 10.13%
Earnings before Tax (EBT) 1 73,116 77,087 37,410 65,952 40,077 73,107
Net income 1 23,077 21,329 2,973 13,925 -12,968 198
Net margin 2.25% 2.09% 0.41% 1.48% -0.86% 0.01%
EPS 2 6.610 5.930 -1.664 2.480 -8.150 -2.514
Free Cash Flow 1 6,845 38,936 3,025 -55,515 -149,666 -37,805
FCF margin 0.67% 3.82% 0.42% -5.9% -9.93% -2.61%
FCF Conversion (EBITDA) 4.39% 25.78% 2.88% - - -
FCF Conversion (Net income) 29.66% 182.55% 101.76% - - -
Dividend per Share 2 1.400 1.400 1.400 1.400 1.400 1.400
Announcement Date 4/15/19 5/17/20 4/19/21 4/25/22 4/18/23 4/16/24
1PHP in Million2PHP
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 700,659 708,463 677,888 799,284 1,111,718 1,199,571
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.494 x 4.691 x 6.464 x 5.423 x 7.181 x 6.256 x
Free Cash Flow 1 6,845 38,937 3,025 -55,515 -149,666 -37,805
ROE (net income / shareholders' equity) 9.9% 8.94% 3.56% 7.21% 4.05% 6.85%
ROA (Net income/ Total Assets) 4.91% 4.19% 2.46% 3.57% 3.18% 3.78%
Assets 1 469,990 508,997 120,736 389,587 -408,389 5,243
Book Value Per Share 2 137.0 135.0 145.0 133.0 115.0 128.0
Cash Flow per Share 2 102.0 120.0 146.0 126.0 133.0 110.0
Capex 1 45,624 64,381 62,565 72,897 75,036 70,853
Capex / Sales 4.45% 6.31% 8.62% 7.75% 4.98% 4.9%
Announcement Date 4/15/19 5/17/20 4/19/21 4/25/22 4/18/23 4/16/24
1PHP in Million2PHP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

  1. Stock Market
  2. Equities
  3. SMC Stock
  4. Financials San Miguel Corporation
-40% Limited Time Offer: Our subscriptions help you unlock hidden opportunities.
BENEFIT NOW