SM Investments Corporation

SM Investments Corporation is the holding company of the Sy family and among the largest conglomerates in the Philippines by market capitalisation. It anchors three pillars of the domestic economy: banking through BDO Unibank and China Bank, property through SM Prime Holdings (malls, residences and estates), and retail through SM Retail's department stores, supermarkets and specialty chains. SM is one of the broadest single proxies for Philippine consumption, credit and urban development available to investors.

What moves the stock

SM's results are the sum of its big units, so bank earnings (sensitive to interest rates, loan growth and asset quality), mall and property performance (foot traffic, leasing, residential sales), and retail sales (consumer spending and store expansion) all feed the share price. Because the three pillars touch the whole consumer economy, SM tends to move with the overall Philippine growth and consumption outlook. As a holding company, it trades at a discount to the value of its parts, so the market reacts to the performance of BDO and SM Prime in particular, plus capital allocation, new investments and dividend policy at the parent.

SM Investments Corporation (SM) currently trades at a price-to-earnings ratio of —, with a dividend yield of n/a. Quality scores update after each fiscal quarter is reported.

Analysis is automatically refreshed using the latest filings and prices. Not a recommendation to buy or sell.