San MiguelPHS:SMC +0.87%74 PB Ratio is 0.54 as of Jun. 28, 2026, which is 35% below its 10-year median of 0.83. GuruFocus rates PHS:SMC with a GF Score™ of 74/100 and a GF Value™ of ₱82.76 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 544 Conglomerates companies, San Miguel ranks better than 74.26% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-28), San Miguel's share price is ₱69.25. San Miguel's Book Value per Share for the quarter that ended in Mar. 2026 was ₱127.57. Hence, San Miguel's PB Ratio of today is 0.54.
The historical rank and industry rank for San Miguel's PB Ratio or its related term are showing as below:
PHS:SMC'
s PB Ratio Range Over the Past 10 Years
Min: 0.4 Med: 0.83 Max: 1.42
Current: 0.54
During the past 13 years, San Miguel's highest PB Ratio was 1.42. The lowest was 0.40. And the median was 0.83.
PHS:SMC's PB Ratio is ranked better than 74.26% of 544
companies
in the Conglomerates industry
Industry Median: 1.045
vs PHS:SMC: 0.54
During the past 12 months, San Miguel's average Book Value Per Share Growth Rate was -4.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 4.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -2.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 1.30% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of San Miguel was 30.40% per year. The lowest was -5.20% per year. And the median was 4.80% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
San Miguel PB Ratio Related Terms
San Miguel PB Ratio Historical Data
* Premium members only.
The historical data trend for San Miguel's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, San Miguel's PB Ratio distribution charts can be found below:
* The bar in red indicates where San Miguel's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
San Miguel's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
San Miguel (PHS:SMC) has a PB Ratio of 0.54 as of Jun. 28, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on San Miguel and its competitors. This is 35% below median its historical median of 0.83. Over the past decade, San Miguel's PB Ratio has ranged from 0.40 to 1.42. According to the industry distribution chart, San Miguel ranks #140 out of 544 companies in the Conglomerates industry, placing it in the top 25.7%.
Is San Miguel's PB Ratio too high?
San Miguel's current PB Ratio of 0.54 is 35% below median its 10-year median of 0.83. Over the past 10 years, this metric has ranged from a low of 0.40 to a high of 1.42. The Conglomerates industry median PB Ratio is 1.05. San Miguel's value of 0.54 is 48.3% below this industry median. Based on the distribution chart, San Miguel ranks #140 out of 544 companies in the Conglomerates industry, which is above the industry midpoint. Overall, San Miguel has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does San Miguel's PB Ratio compare to HON and MMM?
According to the Conglomerates industry distribution chart, San Miguel ranks #140 out of 544 companies for PB Ratio. This puts San Miguel in the upper half of its industry. The industry median PB Ratio is 1.05. San Miguel's value of 0.54 is 48.3% below this benchmark. Historically, San Miguel's own PB Ratio has ranged from 0.40 to 1.42 over the past decade. While the company's 10-year median is 0.83 vs. the industry median of 1.05, San Miguel has consistently been below 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 PB Ratio for a Conglomerates company?
The median PB Ratio among Conglomerates companies is 1.05, based on 544 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. San Miguel's current PB Ratio of 0.54 is 48.3% below 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on San Miguel and its competitors. For the Conglomerates industry, the median PB Ratio is 1.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. San Miguel's current PB Ratio is 0.54, which is 35% below median its own 10-year median of 0.83. 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 ₱82.76, compared to a current price of ₱69.25 — trading 16.3% below its estimated fair value. The current PB Ratio is 0.54, which is 35% below median its 10-year median of 0.83 and 48.3% below the Conglomerates industry median of 1.05. San Miguel's overall GF Score™ is 74/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For San Miguel (PHS:SMC), the current PB Ratio is 0.54 as of Jun. 28, 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 ₱69.25 is trading 16.3% below its estimated GF Value™ of ₱82.76.
GuruFocus considers San Miguel to be Modestly Undervalued.
Key valuation signals for PHS:SMC:
PB Ratio: 0.54 (35% below median its 10-year median of 0.83)
GF Value™: ₱82.76 vs. price of ₱69.25 (16.3% below fair value)
Industry Position: 48.3% below the Conglomerates median (#140 of 544)
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.
74GF Score
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