SM Investments Corporation (SVTMF)
SM Investments Corporation (SMIC) is a leading Philippine conglomerate, operating through its subsidiaries across key sectors including property, retail, and financial services. The company was founded in 1958 and is headquartered in Pasay City, Philippines. SMIC's Property division is multifaceted, focusing on the development and management of malls, residential areas, and commercial spaces. It also oversees the operation of hotels and convention centers, and is involved in creating and transforming entire districts for residential, commercial, entertainment, and tourism purposes. By the end of 2021, this segment boasted a significant footprint, managing 78 malls across the Philippines with a combined gross floor area (GFA) of 8.9 million square meters, alongside 7 malls in China totaling 1.3 million square meters in GFA. The Retail segment offers a comprehensive range of merchandise, from dry goods and apparel to food items and various other consumer products, operating through both retail and wholesale channels. As of December 31, 2021, its extensive network comprised 3,215 stores. This includes prominent brands like 68 SM stores, 61 SM supermarkets, 214 Savemore stores, 52 SM hypermarkets, 7 WalterMart stores, 1,207 Alfamart stores, 1 Mindpro store, and an additional 1,539 specialty stores. SMIC's Banking and Financial Services segment encompasses asset management, capital investments, and a broad array of financial offerings. These services include lending, deposit collection, foreign exchange, brokerage, trust and investment management, credit cards, corporate cash management, remittances, leasing, financing, life insurance, and both insurance and stock brokerage services. It also provides investment, private, and rural banking solutions. This robust segment maintained a substantial presence with approximately 1,500 branches and 4,400 ATMs. Beyond its core operations, SMIC also holds investments in diverse sectors such as commercial real estate, leisure, logistics, food manufacturing, and mining.
Sector: Department Stores
Industry: Department Stores
SM Investments Corporation
OTC:SVTMFConsumer Cyclical · Department Stores
Mkt Cap-
Float566.98M
O/S1.21B
Inst Own-
EarningsNov 11 · in 2d
Dilution
Financials Summary
Revenue$9.93B
Net Income$1.43B
Total Assets$28.66B
Free Cash Flow$1.71B
Debt & Equity
Debt 44%
Equity 56%
Total Debt$8.7B
Total Equity$11B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in SVTMF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$28.66B
Liabilities$13.54B
Accounts Receivable$1.67B
Accounts Payable$1.98B
Inventory$1.88B
PP&E (Net)$1.76B
Goodwill$541.86M
Intangible Assets$96.91M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 |
| Revenue | $9.93B | $10.39B | $9.78B | $8.78B | $6.85B | $6.3B | $7.97B | $7.14B | $6.31B | $5.8B | $5.29B | $4.92B | $4.02B |
| YoY Growth | -4.4% | 6.3% | 11.4% | 28.1% | 8.7% | -20.9% | 11.6% | 13.0% | 9.0% | 9.5% | 7.6% | 22.3% | - |
| Cost of Revenue | $6.22B | $5.64B | $5.38B | $5.05B | $4.08B | $3.9B | $4.54B | $4.12B | $3.69B | $3.46B | $3.17B | $2.95B | $2.41B |
| Gross Profit | $3.71B | $4.75B | $4.4B | $3.73B | $2.77B | $2.41B | $3.42B | $3.02B | $2.62B | $2.34B | $2.12B | $1.97B | $1.61B |
| Gross Margin | 37.4% | 45.7% | 45.0% | 42.5% | 40.5% | 38.2% | 43.0% | 42.3% | 41.6% | 40.3% | 40.1% | 40.0% | 40.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $1.82B | $190.28M | $189.52M | $150.94M | $131.43M | $1.47B | $1.75B | $1.64B | $1.42B | $1.27B | $1.15B | $1.08B | $792.32M |
| Other | $204.16M | $1.29B | $1.17B | $958.98M | $766.75M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $2.02B | $1.48B | $1.36B | $1.11B | $898.18M | $1.47B | $1.75B | $1.64B | $1.42B | $1.27B | $1.15B | $1.08B | $792.32M |
| Operating Income (EBIT) | $1.69B | $3.28B | $3.04B | $2.62B | $1.87B | $934.57M | $1.67B | $1.37B | $1.2B | $1.07B | $976.68M | $892.19M | $816.74M |
| Operating Margin | 17.0% | 31.5% | 31.1% | 29.8% | 27.4% | 14.8% | 21.0% | 19.3% | 19.1% | 18.4% | 18.5% | 18.1% | 20.3% |
| Interest Expense | $344.45M | $375.41M | $381.94M | $337.14M | $302.36M | $285.97M | $317.64M | $263.52M | $247M | $186.05M | $165.68M | $188.33M | $163.59M |
| Interest Income | $60.74M | $72.46M | $64.2M | $47.6M | $34.81M | $38.65M | $63.18M | $59.69M | $63.47M | $58.98M | $50.85M | $48.01M | $55.45M |
| Other Income (Expense) | $568.28M | -$1.17B | -$1.09B | -$1.05B | -$864.24M | -$267.66M | -$299.22M | -$198.1M | -$167.57M | -$125.35M | -$113.85M | -$94.33M | -$123.91M |
| Income Before Tax (EBT) | $2.26B | $2.11B | $1.95B | $1.57B | $1.01B | $666.91M | $1.37B | $1.18B | $1.04B | $941.29M | $862.84M | $797.86M | $692.83M |
| Income Tax Expense | $300.37M | $289.74M | $263.93M | $234.78M | $142.92M | $114.28M | $272.47M | $247.17M | $218.56M | $183.42M | $170.05M | $138.61M | $86.02M |
| Net Income | $1.43B | $1.31B | $1.22B | $978.37M | $641.29M | $379.11M | $707.25M | $588.39M | $522.46M | $495.18M | $458.06M | $450.44M | $435.53M |
| Net Income Margin | 14.4% | 12.6% | 12.5% | 11.1% | 9.4% | 6.0% | 8.9% | 8.2% | 8.3% | 8.5% | 8.7% | 9.2% | 10.8% |
| Supplementary Data | |||||||||||||
| EPS | 74.09 | 67.60 | 63.00 | 50.58 | 33.55 | 19.82 | 37.00 | 30.78 | 27.33 | 25.90 | 24.07 | 23.70 | 23.23 |
| Diluted EPS | 74.09 | 67.60 | 63.00 | 50.59 | 33.55 | 19.82 | 37.00 | 30.78 | 27.33 | 25.90 | 24.07 | 23.70 | 23.24 |
| Weighted Average OS | 1.22B | 1.22B | 1.22B | 1.22B | 1.20B | 1.21B | 1.20B | 1.20B | 1.20B | 1.20B | 1.20B | 1.20B | 1.18B |
| EBITDA | $3.04B | $2.84B | $2.65B | $2.25B | $1.7B | $1.24B | $1.98B | $1.62B | $1.43B | $1.27B | $1.16B | $1.07B | $967.7M |
| EBITDA Margin | 30.6% | 27.3% | 27.1% | 25.7% | 24.9% | 19.6% | 24.9% | 22.6% | 22.6% | 21.9% | 22.0% | 21.8% | 24.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 |
| Assets | |||||||||||||
| Current Assets | |||||||||||||
| Cash and Cash Equivalents | $1.61B | $1.79B | $1.65B | $1.69B | $1.42B | $1.24B | $1.21B | $1.26B | $1.18B | $1.19B | $924.88M | $1.16B | $796.77M |
| Short-Term Investments | $62.22M | $12.61M | $183.98M | $185.32M | $166.8M | $9.02M | $10.46M | $420.24M | $231.46M | $438.51M | $165.56M | $142.82M | $469.27M |
| Cash and Short-Term Investments | $1.67B | $1.8B | $1.83B | $1.88B | $1.58B | $1.25B | $1.22B | $1.68B | $1.41B | $1.63B | $1.09B | $1.37B | $1.27B |
| Accounts Receivable | $1.67B | $1.85B | $1.24B | $1.33B | $1.2B | $930.12M | $824.02M | $517.58M | $498.7M | $486.03M | $471.92M | $490.97M | $389.37M |
| Inventory | $1.88B | $1.89B | $1.86B | $1.69B | $1.38B | $1.16B | $1.24B | $1.1B | $938.26M | $925.08M | $788.66M | $308.57M | $507.62M |
| Other Current Assets | $305.61M | $255.38M | $442.92M | $530.8M | $408.48M | $471.29M | $444.32M | $351.48M | $371.3M | $308.03M | $285.92M | $902.39M | $325.62M |
| Total Current Assets | $5.72B | $6.08B | $5.7B | $5.74B | $4.86B | $4.04B | $3.94B | $3.84B | $3.37B | $3.48B | $2.76B | $3.08B | $2.59B |
| Long-Term Assets | |||||||||||||
| Property, Plant & Equipment Net | $1.76B | $1.24B | $1.15B | $1.07B | $1.43B | $1.08B | $989.98M | $368.18M | $338.63M | $332.46M | $327.49M | $334.2M | $290.77M |
| Goodwill | $541.86M | $543.66M | $541.9M | $541.9M | $535.91M | $275.56M | $275.59M | $274.64M | $274.64M | $274.64M | $274.64M | $0 | $224.23M |
| Intangible Assets | $96.91M | $552.55M | $563.5M | $491.97M | $116.51M | $120.24M | $131.72M | $287.86M | $300.16M | $287.74M | $287.1M | $371.83M | $97.19M |
| Long-Term Investments | $19.28B | $7.54B | $7.12B | $6.66B | $6.11B | $6.05B | $5.65B | $5.59B | $5.14B | $3.78B | $3.89B | $3.38B | $2.84B |
| Deferred Tax Assets | $85.62M | $109.81M | $127.29M | $113.49M | $113.91M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $1.18B | $10.89B | $9.97B | $8.86B | $8.45B | $7.87B | $7.16B | $6.47B | $5.81B | $5.52B | $4.93B | $4.36B | $4.01B |
| Total Long-Term Assets | $22.94B | $20.87B | $19.47B | $17.74B | $16.76B | $15.39B | $14.22B | $13B | $11.86B | $10.19B | $9.7B | $8.44B | $7.46B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $28.66B | $26.96B | $25.17B | $23.48B | $21.63B | $19.43B | $18.16B | $16.83B | $15.24B | $13.67B | $12.46B | $11.52B | $10.04B |
| Liabilities | |||||||||||||
| Current Liabilities | |||||||||||||
| Accounts Payable | $1.98B | $1.99B | $1.85B | $1.6B | $1.41B | $1.31B | $1.36B | $1.13B | $958.47M | $859.93M | $830.97M | $1.26B | $628.09M |
| Short-Term Debt | $1.96B | $2.04B | $2.01B | $1.71B | $1.44B | $1.34B | $758.34M | $1.28B | $1.02B | $628.24M | $579.05M | $397.78M | $986.33M |
| Current Income Tax Payable | $0 | $64.95M | $57.92M | $50.86M | $36.67M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $1.32B | $541.19M | $537.76M | $547.2M | $566.41M | $789.09M | $632.81M | $645.13M | $511.53M | $364.64M | $295.18M | $88.92M | $298.59M |
| Total Current Liabilities | $5.33B | $5.45B | $5.25B | $4.65B | $4.15B | $3.81B | $3.12B | $3.38B | $2.79B | $2.14B | $2.01B | $1.75B | $2.1B |
| Long-Term Liabilities | |||||||||||||
| Long-Term Debt | $6.18B | $5.9B | $5.95B | $6.31B | $6.06B | $5.25B | $5.19B | $4.85B | $4.64B | $4.45B | $3.89B | $3.76B | $2.79B |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $775.72M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $334.33M | $308.57M | $287.69M | $266.56M | $248.76M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $1.14B | $1.03B | $920.8M | $751.01M | $4.62M | $955.92M | $893.98M | $795.11M | $600.76M | $501.87M | $468.73M | $430.34M | $395.73M |
| Total Long-Term Liabilities | $8.21B | $7.77B | $7.67B | $7.84B | $7.58B | $6.66B | $6.53B | $5.64B | $5.24B | $4.95B | $4.36B | $4.19B | $3.18B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $13.54B | $13.21B | $12.92B | $12.49B | $11.73B | $10.47B | $9.65B | $9.02B | $8.03B | $7.09B | $6.37B | $5.94B | $5.28B |
| Stockholders' Equity | |||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $195.04M | $194.57M | $194.57M | $194.57M | $191.15M | $191.15M | $191.15M | $191.15M | $191.15M | $191.15M | $127.44M | $126.37M | $126.36M |
| Retained Earnings | $9.45B | $8.28B | $7.03B | $5.96B | $5.69B | $4.96B | $4.67B | $4.11B | $3.64B | $3.26B | $2.97B | $2.64B | $2.35B |
| Comprehensive Income & Other | $323.13M | $0 | $0 | $0 | $22.52M | $50.31M | $3.87M | $100.58M | $168.23M | $104.85M | $137.84M | $90.07M | $91.92M |
| Other Stockholders' Equity | $1.36B | $1.48B | $1.6B | $1.73B | $1.23B | $1.25B | $1.21B | $1.3B | $1.38B | $1.32B | $1.35B | $1.23B | $1.01B |
| Total Equity | $11B | $9.95B | $8.83B | $7.89B | $7.1B | $6.41B | $6.07B | $5.61B | $5.21B | $4.77B | $4.44B | $4B | $3.48B |
| Minority Interest | $4.12B | $3.79B | $3.42B | $3.1B | $2.79B | $2.55B | $2.44B | $2.2B | $1.99B | $1.81B | $1.65B | $1.57B | $1.28B |
| Total Liabilities and Equity | $24.54B | $23.17B | $21.75B | $20.38B | $18.83B | $16.88B | $15.72B | $14.63B | $13.24B | $11.86B | $10.82B | $9.94B | $8.76B |
| Supplementary Data | |||||||||||||
| Total Debt | $8.7B | $8.52B | $8.52B | $8.59B | $8.03B | $7.08B | $6.42B | $6.12B | $5.67B | $5.08B | $4.47B | $4.16B | $3.78B |
| Net Debt | $7.09B | $6.74B | $6.88B | $6.9B | $6.61B | $5.83B | $5.21B | $4.87B | $4.49B | $3.89B | $3.54B | $3B | $2.98B |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 |
| Operating Activities | |||||||||||||
| Net Income | $1.43B | $2.11B | $1.95B | $1.57B | $1.01B | $666.91M | $707.25M | $588.39M | $522.46M | $495.18M | $458.06M | $450.44M | $435.53M |
| Depreciation & Amortization | $438.06M | $420.65M | $392.07M | $375.36M | $332.24M | $301.43M | $307.39M | $240.59M | $222.5M | $204.09M | $187.99M | $180.07M | $150.97M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||
| Accounts Receivable | -$183.22M | -$337.67M | -$267.91M | -$119.05M | -$83.01M | -$98.77M | -$45.21M | -$22.81M | -$9.79M | $7.07M | $27.95M | $10.65M | -$35.99M |
| Inventory | $13.63M | -$34.68M | -$385.22M | -$645.64M | -$591.96M | -$255.14M | -$341.41M | -$593.3M | -$505.34M | -$288.52M | -$246.07M | -$383.32M | -$315.68M |
| Accounts Payable | $43.76M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $113.94M | $243.29M | $348.99M | $571.13M | $461M | $114.88M | -$169.57M | $184.62M | $100.78M | $105.69M | $215.69M | $69.29M | -$39.59M |
| Total Working Capital Change | -$11.88M | -$129.05M | -$304.14M | -$193.56M | -$213.96M | -$239.02M | -$556.18M | -$431.49M | -$414.35M | -$175.76M | -$2.42M | -$303.37M | -$391.25M |
| Other Non-Cash Items | $16.89M | -$692.47M | -$594.75M | -$411.2M | -$370.82M | -$96.49M | $678.9M | $562.6M | $511.43M | $207.8M | $275.19M | $498K | $293.6M |
| Net Cash from Operating | $1.87B | $1.71B | $1.44B | $1.34B | $757.51M | $632.82M | $1.14B | $960.09M | $842.04M | $731.31M | $918.81M | $327.64M | $488.85M |
| Investing Activities | |||||||||||||
| Capital Expenditures | -$266.4M | -$202.31M | -$196.17M | -$153.58M | -$210.83M | -$120.41M | -$118.17M | -$102.39M | -$80.42M | -$83.3M | -$80.17M | -$79.8M | -$81.44M |
| Acquisitions | $933K | -$59.53M | $0 | -$1.78M | -$95.89M | -$6.19M | $5.19M | $0 | $0 | $0 | -$7.02M | $0 | -$265.81M |
| Purchases of Investments | -$1.29B | -$23.93M | -$10.98M | -$436.69M | -$44.92M | -$49.58M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $16.86M | $310.91M | $156.42M | $0 | $0 | $16.76M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | -$740.97M | -$605.52M | -$220.35M | -$297.29M | -$675.47M | -$213.23M | -$624.07M | -$810.05M | -$445.91M | -$906.66M | -$239.45M | -$145.48M |
| Net Cash from Investing | -$1.54B | -$715.83M | -$656.25M | -$812.4M | -$648.94M | -$834.9M | -$326.21M | -$726.46M | -$890.48M | -$529.21M | -$993.85M | -$319.25M | -$492.72M |
| Financing Activities | |||||||||||||
| Debt Repaid | -$187.95M | $297.98M | -$67.4M | $101.33M | $3.39M | -$85.94M | $234.19M | -$483.92M | -$384.44M | -$444.38M | -$295.91M | -$575.16M | -$292.19M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$470.59M | -$324.27M | -$275.09M | -$201.76M | -$153.19M | -$161.21M | -$325.48M | -$280.47M | -$260.76M | -$228.8M | -$206.28M | -$188.37M | -$210.16M |
| Other Financing Activities | -$157.85M | -$398.75M | -$506.67M | -$392.97M | -$366.65M | -$339.97M | -$290.73M | -$357.3M | -$97.86M | -$160.36M | -$252.83M | -$127.62M | -$240.65M |
| Net Cash from Financing | -$502.48M | -$853.21M | -$830.31M | -$257.67M | $62.41M | $205.16M | -$850.41M | -$153.85M | $25.82M | $55.23M | -$163.2M | $259.17M | -$158.62M |
| Forex Effect | -$23.85M | $130K | -$275K | -$703K | -$1.3M | $3.26M | -$9.92M | -$511K | $12.63M | $7.12M | -$1.17M | $1.72M | -$4.21M |
| Net Change in Cash | -$193.09M | $139.37M | -$44.68M | $273.08M | $169.67M | $6.34M | -$49.18M | $79.27M | -$9.99M | $264.45M | -$239.41M | $367.52M | $796.77M |
| Supplementary Data | |||||||||||||
| Operating Cash Flow | $1.87B | $1.71B | $1.44B | $1.34B | $757.51M | $632.82M | $1.14B | $960.09M | $842.04M | $731.31M | $918.81M | $327.64M | $488.85M |
| Capital Expenditure | -$167.96M | -$202.31M | -$196.17M | -$153.58M | -$210.83M | -$120.41M | -$118.17M | -$102.39M | -$80.42M | -$83.3M | -$80.17M | -$79.8M | -$81.44M |
| Free Cash Flow | $1.71B | $1.51B | $1.25B | $1.19B | $546.67M | $512.41M | $1.02B | $857.7M | $761.61M | $648.01M | $838.64M | $247.84M | $407.41M |
| Cash at Beginning | $1.8B | $1.65B | $1.69B | $1.42B | $1.25B | $1.24B | $1.26B | $1.18B | $1.19B | $924.88M | $1.16B | $796.77M | $0 |
| Cash at End | $1.61B | $1.79B | $1.65B | $1.69B | $1.42B | $1.25B | $1.21B | $1.26B | $1.18B | $1.19B | $924.88M | $1.16B | $796.77M |