San Miguel Corporation (PSE:SMC)
Philippines · Delayed Price · Currency is PHP 63.80
+0.30 (0.47%)
At close: Aug 7, 2026
San Miguel Cash Flow Statement
Financials in millions PHP. Fiscal year is January - December.
Millions PHP. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Net Income | 18,635 | 41,291 | -7,411 | 198 | -12,968 | 13,925 |
Depreciation & Amortization | 62,452 | 63,425 | 54,146 | 57,621 | 50,608 | 44,048 |
Other Amortization | 10,490 | 10,490 | 9,067 | 4,002 | 2,824 | 2,630 |
Loss (Gain) From Sale of Assets | -727 | -977 | -2,175 | -83 | -733 | -167 |
Loss (Gain) From Sale of Investments | - | -21,933 | - | - | - | - |
Loss (Gain) on Equity Investments | -13,525 | -11,482 | -2,364 | -1,729 | -1,197 | -1,040 |
Other Operating Activities | 64,766 | 47,677 | 50,500 | 28,473 | 42,842 | 34,350 |
Change in Accounts Receivable | -14,251 | -14,251 | -1,561 | -24,104 | -66,502 | -34,503 |
Change in Inventory | 27,542 | 27,542 | -16,046 | 27,789 | -43,902 | -36,751 |
Change in Accounts Payable | 3,422 | 3,422 | 41,388 | -2,026 | 16,744 | 37,519 |
Change in Income Taxes | 5,343 | 5,343 | -10,803 | 6,883 | 19,817 | 3,133 |
Change in Other Net Operating Assets | 19,269 | 6,616 | -13,154 | -13,928 | -19,926 | -13,006 |
Operating Cash Flow | 183,416 | 157,163 | 101,587 | 83,096 | -12,393 | 50,138 |
Operating Cash Flow Growth | 129.80% | 54.71% | 22.25% | - | - | -5.28% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Capital Expenditures | -54,137 | -53,398 | -72,950 | -71,173 | -75,986 | -74,421 |
Sale of Property, Plant & Equipment | 5,226 | 3,911 | 1,168 | 1,307 | 253 | 1,350 |
Cash Acquisitions | - | - | -1,040 | - | -97,204 | - |
Divestitures | -6 | -5,674 | 2,537 | 418 | 385 | - |
Sale (Purchase) of Intangibles | -29,193 | -28,007 | -40,379 | -64,677 | -58,162 | -26,007 |
Sale (Purchase) of Real Estate | -7,744 | -7,649 | -13,742 | -5,450 | -4,415 | -6,546 |
Investment in Securities | -24,642 | 51,863 | -17,198 | -5,281 | 20,085 | -4,815 |
Other Investing Activities | -4,970 | 10,392 | -7,797 | -10,601 | 13,516 | -17,133 |
Investing Cash Flow | -115,466 | -28,562 | -149,401 | -155,457 | -201,528 | -127,572 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Short-Term Debt Issued | - | 1,234,685 | 1,334,679 | 1,145,761 | 1,148,669 | 760,746 |
Long-Term Debt Issued | - | 183,696 | 357,390 | 292,879 | 353,451 | 140,777 |
Total Debt Issued | 1,427,525 | 1,418,381 | 1,692,069 | 1,438,640 | 1,502,120 | 901,523 |
Short-Term Debt Repaid | - | -1,293,970 | -1,256,795 | -1,197,861 | -1,074,087 | -711,147 |
Long-Term Debt Repaid | - | -120,845 | -329,630 | -211,817 | -141,979 | -139,570 |
Total Debt Repaid | -1,325,636 | -1,414,815 | -1,586,425 | -1,409,678 | -1,216,066 | -850,717 |
Net Debt Issued (Repaid) | 101,889 | 3,566 | 105,644 | 28,962 | 286,054 | 50,806 |
Issuance of Common Stock | 29,709 | 29,709 | - | 46,749 | - | - |
Repurchase of Common Stock | -29,785 | -29,785 | - | - | - | - |
Common Dividends Paid | -12,860 | -12,860 | -12,401 | -9,043 | -9,680 | - |
Dividends Paid | -13,756 | -12,860 | -12,401 | -9,043 | -9,680 | -11,755 |
Other Financing Activities | -27,380 | -32,052 | -14,940 | -51,365 | -39,776 | 16,262 |
Financing Cash Flow | 16,395 | -73,004 | 78,303 | 15,303 | 224,298 | 21,096 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Foreign Exchange Rate Adjustments | 12,190 | 2,441 | 1,830 | 202 | 7,807 | 9,159 |
Net Cash Flow | 96,535 | 58,038 | 32,319 | -56,856 | 18,184 | -47,179 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Free Cash Flow | 129,279 | 103,765 | 28,637 | 11,923 | -88,379 | -24,283 |
Free Cash Flow Growth | 572.35% | 262.35% | 140.18% | - | - | - |
Free Cash Flow Margin | 8.33% | 6.99% | 1.82% | 0.82% | -5.87% | -2.58% |
Free Cash Flow Per Share | 54.23 | 43.53 | 12.01 | 4.99 | -37.07 | -10.19 |
Levered Free Cash Flow | 92,941 | 86,203 | 21,210 | -36,268 | -149,236 | -57,554 |
Unlevered Free Cash Flow | 147,479 | 141,227 | 76,956 | 14,158 | -116,377 | -31,734 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 Interest Paid | 96,389 | 98,274 | 99,203 | 91,995 | 60,910 | 48,612 |
Cash Income Tax Paid | 28,269 | 26,163 | 23,687 | 21,527 | 19,650 | 14,528 |
Change in Working Capital | 41,325 | 28,672 | -176 | -5,386 | -93,769 | -43,608 |