SM Investments Corporation

PSE-SM

Basic

Market Cap
₱1,123.65B
EV
₱1,785.58B
Shares Out
1,222.02M
Revenue
₱621.69B
Employees
—

Margins

Gross
44.8%
EBITDA
26.36%
Operating
23.14%
Pre-Tax
19.92%
Net
12.56%
FCF
12.35%

Returns (5Yr Avg)

ROA
3.7%
ROTA
8.02%
ROE
7.89%
ROCE
9.46%
ROIC
7.29%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
₱1,063
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
₱98.36B
Net Debt
₱439.87B
Debt/Equity
0.68
EBIT/Interest
5.88

Growth (CAGR)

Rev 3Yr
17.84%
Rev 5Yr
6.04%
Rev 10Yr
9.24%
Dil EPS 3Yr
47.78%
Dil EPS 5Yr
14.39%
Dil EPS 10Yr
11.19%
Rev Fwd 2Yr
7.83%
EBITDA Fwd 2Yr
-3.75%
EPS Fwd 2Yr
9.72%
EPS LT Growth Est
9.2%

Dividends

Yield
—
Payout
14.09%
DPS
₱9
DPS Growth 3Yr
28.42%
DPS Growth 5Yr
-0.26%
DPS Growth 10Yr
2.7%
DPS Growth Fwd 2Yr
65.73%

Metric	Jan '15	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Operating Revenues						465,249.8	363,655.2	369,453.1	455,532.7	505,634.4	510,014.7
Gain (Loss) on Sale of Investment, Total						—	—	—	—	—	—
Interest And Invest. Income						480.5	430.7	586.7	1,177.3	911.6	790.1
Other Revenues, Total						36,239	33,000.3	61,693.7	96,288.6	109,705.9	110,881.6
Total Revenues						501,969.3	397,086.2	431,733.5	552,998.6	616,251.9	621,686.4
Total Revenues % Chg.						11.6%	-20.9%	8.7%	28.1%	11.4%	7.7%
Cost of Goods Sold, Total						286,308.7	245,455.6	257,021.8	318,061.9	339,079.2	343,186.9
Gross Profit						215,660.6	151,630.6	174,711.7	234,936.7	277,172.7	278,499.6
Selling General & Admin Expenses, Total						110,190.5	92,737.1	56,600.3	69,943	85,784.7	85,784.7
Depreciation & Amortization	—	—	—	—	—	—	—	19,799.6	21,741	22,745.2	22,745.2
Other Operating Expenses	—	—	—	—	—	—	—	11,824.7	24,952.9	26,111.7	26,111.7
Other Operating Expenses, Total						110,190.5	92,737.1	88,224.5	116,636.8	134,641.5	134,641.5
Operating Income						105,470.1	58,893.6	86,487.2	118,299.9	142,531.2	143,858.1
Interest Expense, Total						-19,511.7	-18,415.4	-19,138.8	-21,547.1	-24,084.7	-24,449.5
Interest And Investment Income						3,881.2	2,452.6	2,203.4	3,042.4	4,048.3	4,211.7
Net Interest Expenses						-15,630.6	-15,962.7	-16,935.4	-18,504.7	-20,036.5	-20,237.7
Currency Exchange Gains (Loss)						561.7	268	790.1	209	328.7	352.7
Other Non Operating Income (Expenses)					—	6.4	-153.1	86.8	24.1	-392.6	-711.9
EBT, Excl. Unusual Items						90,407.6	43,045.8	70,428.7	100,028.3	122,430.9	123,261.1
Gain (Loss) On Sale Of Investments					—	-3,793.1	-1,019.4	579.7	-578	386.3	386.3
Other Unusual Items	—	—	—	—	—	—	—	-7,358.1	-310.2	—	190.5
EBT, Incl. Unusual Items						86,614.5	42,026.4	63,650.3	99,140.2	122,817.2	123,838
Income Tax Expense						17,170.2	7,201.3	9,006.5	14,794.8	16,632.1	16,236.2
Earnings From Continuing Operations						69,444.3	34,825.1	54,643.7	84,345.4	106,185.1	107,601.7
Minority Interest						-24,876.1	-10,935.1	-14,231.8	-22,691.7	-29,196	-29,522.7
Net Income						44,568.2	23,890	40,411.9	61,653.7	76,989	78,079.1
Net Income to Common Incl Extra Items						44,568.2	23,890	40,411.9	61,653.7	76,989	78,079.1
Net Income to Common Excl. Extra Items						44,568.2	23,890	40,411.9	61,653.7	76,989	78,079.1
Total Shares Outstanding						1,204.4	1,204.4	1,204.6	1,222	1,222	1,222
Weighted Avg. Shares Outstanding						1,204.6	1,204.6	1,204.6	1,211.8	1,222	1,222
Weighted Avg. Shares Outstanding Dil						1,204.6	1,204.6	1,204.6	1,211.8	1,222	1,222
EPS						37	19.8	33.5	50.9	63	63.9
EPS Diluted						37	19.8	33.5	50.9	63	63.9
EBITDA						124,841	77,888.4	107,423.6	137,871.1	163,153.3	163,863.2
Effective Tax Rate						19.8%	17.1%	14.2%	14.9%	13.5%	13.1%