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San MiguelPHS:SMC +3.32%75 Piotroski F-Score is 6 as of Jul. 16, 2026, which is at its 10-year median of 6.00. GuruFocus rates PHS:SMC with a GF Score™ of 75/100 and a GF Value™ of ₱82.74 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 559 Conglomerates companies, San Miguel ranks better than 71.91% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
San Miguel has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for San Miguel's Piotroski F-Score or its related term are showing as below:
PHS:SMC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 8
Current: 6
During the past 13 years, the highest Piotroski F-Score of San Miguel was 8. The lowest was 3. And the median was 6.
San Miguel (PHS:SMC) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
San Miguel Piotroski F-Score Related Terms
San Miguel Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for San Miguel's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Conglomerates subindustry, San Miguel's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
San Miguel Piotroski F-Score vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, San Miguel's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where San Miguel's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
San Miguel's current Net Income (TTM) was 18,635.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
San Miguel's return on assets of this year was 0.00711381. San Miguel's return on assets of last year was 0.00889123.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
San Miguel's gearing of this year was 0.45380342. San Miguel's gearing of last year was 0.45994039.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
San Miguel's current ratio of this year was 1.20486411. San Miguel's current ratio of last year was 1.36892167.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
San Miguel's number of shares in issue this year was 2384. San Miguel's number of shares in issue last year was 2384.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
San Miguel's gross margin of this year was 0.19361329. San Miguel's gross margin of last year was 0.1740127.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
San Miguel's asset turnover of this year was 0.59275594. San Miguel's asset turnover of last year was 0.61557717.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
San Miguel has an F-score of 6 indicating the company's financial situation is typical for a stable company.
San Miguel (PHS:SMC) has a Piotroski F-Score of 6 as of Jul. 16, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on San Miguel and its competitors. This is near median its historical median of 6.00. Over the past decade, San Miguel's Piotroski F-Score has ranged from 3.00 to 8.00. According to the industry distribution chart, San Miguel ranks #157 out of 559 companies in the Conglomerates industry, placing it in the top 28.1%.
Is San Miguel's Piotroski F-Score too high?
San Miguel's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 8.00. The Conglomerates industry median Piotroski F-Score is 5.00. San Miguel's value of 6 is 20% above this industry median. Based on the distribution chart, San Miguel ranks #157 out of 559 companies in the Conglomerates industry, which is above the industry midpoint. Overall, San Miguel has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does San Miguel's Piotroski F-Score compare to HON and MMM?
According to the Conglomerates industry distribution chart, San Miguel ranks #157 out of 559 companies for Piotroski F-Score. This puts San Miguel in the upper half of its industry. The industry median Piotroski F-Score is 5.00. San Miguel's value of 6 is 20% above this benchmark. Historically, San Miguel's own Piotroski F-Score has ranged from 3.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, San Miguel has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Conglomerates company?
The median Piotroski F-Score among Conglomerates companies is 5.00, based on 559 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. San Miguel's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on San Miguel and its competitors. For the Conglomerates industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. San Miguel's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is San Miguel stock overvalued right now?
Based on GuruFocus' analysis, San Miguel (PHS:SMC) is currently considered Modestly Undervalued. The stock's GF Value™ is ₱82.74, compared to a current price of ₱67.00 — trading 19% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Conglomerates industry median of 5.00. San Miguel's overall GF Score™ is 75/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For San Miguel (PHS:SMC), the current Piotroski F-Score is 6 as of Jul. 16, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is San Miguel (PHS:SMC) Overvalued in 2026?
Based on GuruFocus' analysis, San Miguel stock appears to be undervalued.
The current stock price of ₱67.00 is trading 19% below its estimated GF Value™ of ₱82.74.
GuruFocus considers San Miguel to be Modestly Undervalued.
Key valuation signals for PHS:SMC:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: ₱82.74 vs. price of ₱67.00 (19% below fair value)
Industry Position: 20% above the Conglomerates median (#157 of 559)
No single metric tells the full story. See the PHS:SMC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
San Miguel Corp, through its subsidiaries, operates in various reportable business segments, including food and beverage, packaging, energy, fuel and oil, infrastructure, cement, and real estate property management and development. Maximum revenue is generated from the fuel and oil segment, which is engaged in refining crude oil and marketing and distribution of refined petroleum products.
75GF Score
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