San Miguel (PHS:SMC) Price-to-Tangible-Book: (As of Sep. 12, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

PHS:SMC San Miguel Corp PHS:SMC
83 GF Score
Price ₱62.80
GF Value ₱92.64
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is San Miguel Price-to-Tangible-Book?

As of today (2026-09-12), San Miguel's share price is ₱62.80. San Miguel's Tangible Book per Share of Jun. 2026 for the quarter that ended in Jun. 2026 was ₱-110.08. Hence, San Miguel's Price to Tangible Book Ratio of today is .

The historical rank and industry rank for San Miguel's Price-to-Tangible-Book or its related term are showing as below:

During the past 13 years, San Miguel's highest Price to Tangible Book Ratio was 182.38. The lowest was 2.15. And the median was 6.69.

PHS:SMC's Price-to-Tangible-Book is not ranked *
in the Conglomerates industry.
Industry Median: 1.14
* Ranked among companies with meaningful Price-to-Tangible-Book only.

A closely related ratio is called PB Ratio. As of today, San Miguel's share price is ₱62.80. San Miguel's Book Value per Sharefor the quarter that ended in Jun. 2026 was ₱124.04. Hence, San Miguel's P/B Ratio of today is 0.51.

Be Aware

Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.

San Miguel Price-to-Tangible-Book Related Terms

San Miguel Price-to-Tangible-Book Historical Data

* Premium members only.

The historical data trend for San Miguel's Price-to-Tangible-Book 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.

San Miguel Price-to-Tangible-Book Chart

San Miguel Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Price-to-Tangible-Book
Get a 7-Day Free Trial Premium Member Only Premium Member Only 182.38 0.00 0.00 0.00 0.00

San Miguel Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Price-to-Tangible-Book Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

PHS:SMC vs MMM, HON: Price-to-Tangible-Book Comparison

For the Conglomerates subindustry, San Miguel's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book 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 Price-to-Tangible-Book vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, San Miguel's Price-to-Tangible-Book distribution charts can be found below:

* The bar in red indicates where San Miguel's Price-to-Tangible-Book falls into.


PHS:SMC
83GF Score
San Miguel Corp PHS:SMC
Price-to-Tangible-Book is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

San Miguel Price-to-Tangible-Book Calculation

San Miguel's price-to-tangible-book ratio for today is calculated as:

Price to Tangible Book=Share Price/Tangible Book per Share (Q: Jun. 2026 )
=62.80/-110.079
=

* 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:

Price to Tangible Book=Market Cap/Tangible Equity
=Market Cap/(Total Stockholders Equity-Preferred Stock-Intangible Assets)

A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.

Is San Miguel (PHS:SMC) Overvalued in 2026?

Based on GuruFocus' analysis, San Miguel stock appears to be undervalued. The current stock price of ₱62.80 is trading 32.2% below its estimated GF Value™ of ₱92.64. GuruFocus considers San Miguel to be Possible Value Trap.

Key valuation signals for PHS:SMC:

  • Price-to-Tangible-Book:
  • GF Value™: ₱92.64 vs. price of ₱62.80 (32.2% below fair value)
  • GF Score™: 83/100 with 5 warning signs

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 Business Description

Address No. 40 San Miguel Avenue, P.O. Box 271, Manila Central Post Office, Metro Manila, Mandaluyong, PHL, 1550
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.
83GF Score

Get the complete analysis for PHS:SMC

Price-to-Tangible-Book is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₱62.80
Price
₱92.64
GF Value