1. Philippines Stocks

  2. •

    Consumer Defensive

  3. •

    Beverages - Alcoholic
Ginebra San Miguel, Inc.

Ginebra San Miguel, Inc.

GBSMF
Ginebra San Miguel, Inc.US flagOther OTC
2.09
USD
+0.00
- -
598.35MMarket Cap
Ginebra San Miguel, Inc.
GBSMF
(Other OTC)

Recent

price

2.09

P/E

ratio

- -

div

yld

- -

ROIC.AI

2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
TTM
FRC
69.48
79.58
49.99
45.99
47.15
52.11
57.82
64.86
72.97
86.74
101.5
126.43
148.55
165.34
187.33
218.3
229.13
Revenue per Share
2.49
3.03
-3.3
-3.06
-3.97
-2.85
-1.52
1.09
1.93
3.51
5.67
9.46
14.59
15.88
24.61
25.34
28.51
Basic EPS, GAAP
0.87
-6.48
-7.03
-0.57
2.45
6.35
5.37
4.37
6.99
7.78
6.77
16.68
6.65
21.89
20.47
17.98
16.73
Free Cash Flow per Basic Share
1.67
1.67
1.22
0.41
- -
- -
- -
- -
- -
- -
2.4
1.15
3.88
5.33
9.69
12.14
15.5
Dividend per Share
30.02
10.16
17.64
14.74
10.95
8.41
7.07
8.52
10.43
14.11
17.68
26.13
33.19
43.39
57.99
70.84
81
Book Value per Share
28.81
30.42
25.59
21.76
18.14
15.22
13.55
14.66
16.74
21.13
24.17
32.53
39.66
49.71
63.54
75.89
86.16
Tangible Book Value per Share
281
285
290
290
290
286
286
286
286
286
286
286
286
286
286
286
286
Basic Weighted Avg Shares
19,549
22,688
14,489
13,340
13,677
14,921
16,555
18,572
20,892
24,835
29,063
36,202
42,534
47,341
53,639
62,505
65,607
Sales/Revenue/Turnover
5.39
6.58
-5.5
-2.67
-4.5
3.89
4
5.1
6.38
7.49
10.03
10.63
12.54
12.75
12.83
13.82
14.95
Operating Margin (%)
569
470
461
654
742
720
645
638
589
630
681
705
647
652
664
705
733
Depreciation Expense
701
914
-908
-837
-1,101
-766
-386
361
602
1,053
1,672
2,757
4,179
4,547
7,046
7,257
8,162
Net Income, GAAP
33.07
31.63
- -
- -
- -
- -
349.66
28.96
36.5
32.66
36.22
31.15
24.85
24.94
24.76
24.67
24.7
Effective Tax Rate (%)
3.59
4.03
-6.26
-6.28
-8.05
-5.14
-2.33
1.95
2.88
4.24
5.75
7.61
9.82
9.61
13.14
11.61
12.44
Profit Margin (%)
2,095
3,378
373
-1,855
-3,854
-3,561
-3,051
-2,410
-1,109
1,335
2,724
5,154
7,313
8,107
11,903
14,223
17,034
Working Capital
431
1,804
1,239
1,384
842
343
229
114
- -
877
801
477
300
76
31
40
21
LT Debt
8,167
8,735
7,472
6,594
5,542
4,642
4,104
4,431
5,014
6,264
7,120
9,452
11,519
14,442
18,400
21,940
24,852
Total Equity
5.93
7.17
- -
- -
- -
- -
-11.58
5.2
7.17
12.04
18.59
25.89
34.68
32.28
28.27
28.91
29.48
Return on Invested Capital (%)
5.78
9.88
- -
- -
- -
- -
-12.41
5.68
7.78
14.54
23.2
35.61
46.31
40.23
46.48
38.31
38.17
Return on Capital (%)
8.42
15.25
-23.89
-18.88
-30.88
-29.2
-19.62
14
20.39
28.57
35.65
43.16
49.2
41.48
48.54
39.34
38.14
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'25
Jun'25
Sep'25
ST Debt
33
32
30
LT Borrowings
- -
- -
- -
LT Finance Leases
32
24
21
Preferred Equity and Hybrid Capital
53
53
53
Shares Outstanding
286
286
286
Market Capitalization
34,883
33,760
34,997

Working Capital

FRC

•

in mil. unless spec.
Mar'25
Jun'25
Sep'25
Total Current Assets
26,152
25,015
26,440
Cash, Cash Equivalents & STI
14,714
14,622
15,250
Accounts Receivable, Net
1,428
1,611
1,850
Inventories
8,654
7,551
7,696
Total Current Liabilities
10,853
8,888
9,406
Payables & Accruals
- -
- -
- -
ST Debt
33
32
30
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.48%
25.33%
19.24%
Free Cash Flow
32.12%
59.37%
-12.15%
Net Income, GAAP
14.01%
36.65%
2.99%
Sales/Revenue/Turnover
15.47%
16.64%
16.53%
Total Cash Common Dividend
-101.22%
76.93%
25.27%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
12,945
12,461
13,509
14,723
53,639
2024
15,117
14,875
15,570
16,944
62,505
2025
16,270
15,965
16,428
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
8.84
5.4
4.94
- -
24.61
2024
6.66
6.18
6.17
- -
25.34
2025
7.38
7.46
7.33
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
4.84
2.43
- -
9.69
2024
- -
5.33
2.92
- -
12.14
2025
- -
7.74
3.87
- -
- -
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Business
Ginebra San Miguel Inc. is a Philippines-based company primarily engaged in the manufacture, marketing, and sale of alcoholic beverages, notably the world’s largest-selling gin brand, Ginebra San Miguel. Its core product portfolio includes a range of distilled spirits such as Ginebra San Miguel Gin, GSM Blue Gin and its flavored variants (Mojito, Margarita, Pomelo, Lychee Martini), Primera Light Brandy, Vino Kulafu Chinese wine, and other spirits including Archangel Reserve Premium Dry Gin, Antonov Vodka, and Freedom Island Light Rum. The company operates manufacturing facilities including one distillery, three liquor bottling plants, one cassava starch mill, and five toll bottlers across the Philippines as well as manufacturing and bottling plants in Thailand through a joint venture with the Thai Life Group of Companies. Ginebra San Miguel Inc. was incorporated in 1987 and is headquartered in Mandaluyong City, Philippines. In recent years, the company has undertaken several notable developments. In 2023, it launched revamped product packaging for its GSM Premium Gin and GSM Blue brands, aiming to enhance market appeal and target upscale and younger consumer segments. Ginebra San Miguel also continues to expand the distribution of its flavored GSM Blue line, including a 1-liter Mojito variant to capitalize on growing trends in group drinking. In 2024, the company’s products received prestigious international quality awards such as the Double Gold Medal and SIP Awards for its GSM Blue Flavors Gin Pomelo and GSM Premium Gin. Additionally, in late 2023 and early 2024, Ginebra San Miguel announced strategic partnerships and campaigns to strengthen brand engagement with consumers, including the “Kabayani Kita” campaign designed to inspire Filipino resilience and heroism. The company is majority-owned by San Miguel Food and Beverage, Inc., a subsidiary of San Miguel Corporation, which consolidates significant beverage and food businesses in the region. Ginebra San Miguel serves both domestic and international markets, leveraging its established brand equity and extensive production capabilities to maintain market leadership in the Philippines while actively expanding its footprint in Southeast Asia. Its broad product offering spans multiple spirit categories catering to diverse consumer preferences, supported by a network of production and bottling facilities designed for operational efficiency and market responsiveness. The company remains focused on innovation in product development, strategic marketing initiatives, and operational expansions to sustain growth and brand prominence in the competitive alcoholic beverage industry.

Company News

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  • seekingalpha.com

    Ginebra San Miguel Inc. (GBSMF) Shareholder/Analyst Call Transcript