Financials San Miguel Food and Beverage, Inc.

Equities

End-of-day quote Philippines S.E. Other stock markets 18:00:00 2024-06-27 EDT			5-day change	1st Jan Change
46.05 ^PHP	0.00%		+0.33%	-9.71%

06-05	San Miguel Food and Beverage, Inc. Announces Executive Appointments	CI
06-05	San Miguel Food and Beverage, Inc. Elects John Paul L. Ang as Chief Executive Officer	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	502,284	395,918	421,918	228,687	301,370	272,120	-	-
Enterprise Value (EV) ¹	526,337	436,784	458,933	228,687	341,857	313,312	308,990	301,516
P/E ratio	28.8 x	32.2 x	21.3 x	10.3 x	13 x	13 x	8.56 x	-
Yield	1.88%	2.39%	2.24%	-	5.29%	4.6%	6.66%	6.45%
Capitalization / Revenue	1.62 x	1.42 x	1.36 x	0.64 x	0.79 x	0.66 x	0.62 x	0.59 x
EV / Revenue	1.69 x	1.56 x	1.48 x	0.64 x	0.9 x	0.76 x	0.7 x	0.66 x
EV / EBITDA	8.94 x	9.64 x	8.23 x	3.65 x	5.29 x	4.66 x	4.2 x	3.79 x
EV / FCF	38,245,655 x	18,351,487 x	15,351,507 x	-	-	-	-	-
FCF Yield	0%	0%	0%	-	-	-	-	-
Price to Book	5.28 x	4.8 x	4.52 x	-	2.76 x	2.33 x	1.8 x	1.93 x
Nbr of stocks (in thousands)	5,909,220	5,909,220	5,909,220	5,909,220	5,909,220	5,909,220	-	-
Reference price ²	85.00	67.00	71.40	38.70	51.00	46.05	46.05	46.05
Announcement Date	20-05-18	21-03-11	22-03-10	23-04-17	24-04-16	-	-	-

¹PHP in Million²PHP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	310,785	279,290	309,777	358,853	379,822	414,015	441,283	457,615
EBITDA ¹	58,865	45,329	55,788	62,622	64,575	67,211	73,505	79,539
EBIT ¹	47,780	33,412	43,694	48,711	48,411	50,614	61,863	60,957
Operating Margin	15.37%	11.96%	14.1%	13.57%	12.75%	12.23%	14.02%	13.32%
Earnings before Tax (EBT) ¹	46,107	31,788	40,802	45,769	49,878	54,638	65,723	-
Net income ¹	18,278	12,264	19,791	22,263	23,118	26,488	31,657	-
Net margin	5.88%	4.39%	6.39%	6.2%	6.09%	6.4%	7.17%	-
EPS ²	2.950	2.080	3.350	3.770	3.910	3.535	5.380	-
Free Cash Flow	13,762	23,801	29,895	-	-	-	-	-
FCF margin	4.43%	8.52%	9.65%	-	-	-	-	-
FCF Conversion (EBITDA)	23.38%	52.51%	53.59%	-	-	-	-	-
FCF Conversion (Net income)	75.29%	194.07%	151.05%	-	-	-	-	-
Dividend per Share ²	1.600	1.600	1.600	-	2.700	2.116	3.065	2.970
Announcement Date	20-05-18	21-03-11	22-03-10	23-04-17	24-04-16	-	-	-

¹PHP in Million²PHP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	24,053	40,866	37,015	-	40,487	41,193	36,871	29,396
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.4086 x	0.9015 x	0.6635 x	-	0.627 x	0.6129 x	0.5016 x	0.3696 x
Free Cash Flow	13,762	23,801	29,895	-	-	-	-	-
ROE (net income / shareholders' equity)	20%	13.8%	22.5%	-	21.8%	21%	20.3%	22.4%
ROA (Net income/ Total Assets)	7.25%	4.52%	6.9%	-	-	-	-	-
Assets ¹	252,236	271,147	286,955	-	-	-	-	-
Book Value Per Share ²	16.10	13.90	15.80	-	18.50	19.80	25.60	23.90
Cash Flow per Share ²	7.310	7.200	6.900	-	12.10	9.190	10.20	11.10
Capex	29,410	18,752	10,874	-	-	-	-	-
Capex / Sales	9.46%	6.71%	3.51%	-	-	-	-	-
Announcement Date	20-05-18	21-03-11	22-03-10	23-04-17	24-04-16	-	-	-

¹PHP in Million²PHP

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

46.05 PHP

Average target price

72.4 PHP

Spread / Average Target

+57.22%

	1st Jan change	Capi.
SAN MIGUEL FOOD AND BEVERAGE, INC.	-9.71%	4.64B
NESTLÉ S.A.	-5.94%	269B
MONDELEZ INTERNATIONAL, INC.	-9.65%	89.33B
DANONE	-2.73%	39.44B
KRAFT HEINZ	-12.87%	39.19B
THE HERSHEY COMPANY	-1.40%	37.15B
GENERAL MILLS, INC.	-2.89%	35.62B
ARCHER-DANIELS-MIDLAND COMPANY	-16.30%	29.97B
NESTLÉ INDIA LIMITED	-4.02%	29.26B
ASSOCIATED BRITISH FOODS PLC	+4.52%	23.22B