San Miguel Balance Sheet

Financials in millions PHP. Fiscal year is January - December.

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	351,715	293,677	261,358	318,214	300,030
Short-Term Investments	601	576	554	532	593
Trading Asset Securities	398	438	1,012	1,349	298
Cash & Short-Term Investments	352,714	294,691	262,924	320,095	300,921
Cash Growth	19.69%	12.08%	-17.86%	6.37%	-13.45%
Accounts Receivable	163,182	181,543	175,327	160,330	87,839
Other Receivables	84,377	85,534	88,934	79,302	75,366
Receivables	247,559	267,077	264,261	239,632	163,205
Inventory	148,874	181,596	165,501	193,611	144,315
Prepaid Expenses	108,000	130,366	114,435	101,276	88,588
Restricted Cash	22,512	18,422	14,076	17,411	10,872
Other Current Assets	3,283	8,282	10,205	12,273	6,941
Total Current Assets	882,942	900,434	831,402	884,298	714,842
Property, Plant & Equipment	866,931	947,387	873,488	834,945	741,608
Long-Term Investments	142,078	50,036	43,128	42,032	64,639
Goodwill	186,145	184,994	182,791	184,100	130,081
Other Intangible Assets	359,842	340,496	306,638	249,321	190,979
Long-Term Accounts Receivable	69,563	56,028	39,138	-	-
Long-Term Deferred Tax Assets	23,196	22,045	19,633	22,554	17,141
Long-Term Deferred Charges	22,058	20,643	17,484	17,457	46,362
Other Long-Term Assets	173,405	154,867	145,663	157,118	146,001
Total Assets	2,726,160	2,676,930	2,459,365	2,391,825	2,051,653
Accounts Payable	121,046	122,128	104,272	110,745	91,636
Accrued Expenses	12,484	12,490	11,999	11,569	10,146
Short-Term Debt	230,592	293,230	214,881	267,704	190,779
Current Portion of Long-Term Debt	176,305	94,142	236,817	170,051	88,876
Current Portion of Leases	7,994	11,736	19,631	21,020	23,423
Current Income Taxes Payable	41,753	43,628	46,254	37,694	23,102
Current Unearned Revenue	90	83	58	60	57
Other Current Liabilities	125,023	159,478	111,312	108,770	97,017
Total Current Liabilities	715,287	736,915	745,224	727,613	525,036
Long-Term Debt	1,181,437	1,173,572	954,225	918,583	725,558
Long-Term Leases	27,837	30,809	36,941	54,455	71,569
Long-Term Unearned Revenue	2,101	1,809	-	-	-
Pension & Post-Retirement Benefits	12,360	12,380	10,652	9,539	6,843
Long-Term Deferred Tax Liabilities	29,303	34,861	29,503	26,297	28,742
Other Long-Term Liabilities	10,495	10,143	17,654	16,186	12,666
Total Liabilities	1,978,820	2,000,489	1,794,199	1,752,673	1,370,414
Common Stock	16,443	16,443	16,443	16,443	16,443
Additional Paid-In Capital	177,151	177,442	177,468	177,719	177,719
Retained Earnings	215,321	169,262	190,321	200,243	224,337
Treasury Stock	-111,345	-109,763	-109,763	-156,763	-144,363
Comprehensive Income & Other	15,624	18,936	31,565	36,964	42,307
Total Common Equity	313,194	272,320	306,034	274,606	316,443
Minority Interest	423,959	393,934	348,945	354,359	354,609
Shareholders' Equity	747,340	676,441	665,166	639,152	681,239
Total Liabilities & Equity	2,726,160	2,676,930	2,459,365	2,391,825	2,051,653
Total Debt	1,624,165	1,603,489	1,462,495	1,431,813	1,100,205
Net Cash (Debt)	-1,271,451	-1,308,798	-1,199,571	-1,111,718	-799,284
Net Cash Per Share	-533.33	-548.99	-502.32	-466.32	-335.27
Filing Date Shares Outstanding	2,384	2,384	2,384	2,384	2,384
Total Common Shares Outstanding	2,384	2,384	2,384	2,384	2,384
Working Capital	167,655	163,519	86,178	156,685	189,806
Book Value Per Share	131.38	114.23	128.38	115.19	132.74
Tangible Book Value	-232,793	-253,170	-183,395	-158,815	-4,617
Tangible Book Value Per Share	-97.65	-106.20	-76.93	-66.62	-1.94
Land	64,428	65,482	58,324	50,446	43,857
Buildings	116,083	99,413	90,149	80,797	61,641
Machinery	838,982	849,719	689,309	640,510	552,393
Construction In Progress	139,180	192,015	198,352	194,022	144,461
Leasehold Improvements	20,168	17,063	12,655	9,945	8,554

Source: S&P Global Market Intelligence. Standard template. Financial Sources.