Operating Margin

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Price: 11.81 USD Market Closed

Market Cap: $14.4B

23.1%

Improving

by 0.4%

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

23.1%

Operating Income

₱156B

Revenue

₱674.6B

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

23.1%

Operating Income

$156B

Revenue

₱674.6B

Peer Comparison

Country		Company	Market Cap	Operating Margin
PH		SM Investments Corp XPHS:SM	862.4B PHP	Loading...
US		General Electric Co NYSE:GE	307.7B USD	Loading...
DE		Siemens AG XETRA:SIE	198.5B EUR	Loading...
JP		Hitachi Ltd TSE:6501	24T JPY	Loading...
US		Honeywell International Inc NASDAQ:HON	141.2B USD	Loading...
US		3M Co NYSE:MMM	85.9B USD	Loading...
CN		CITIC Ltd HKEX:267	347.6B HKD	Loading...
US	R	Roper Technologies Inc F:ROP	37.1B EUR	Loading...
KR		Samsung C&T Corp KRX:028260	50T KRW	Loading...
HK		CK Hutchison Holdings Ltd HKEX:1	240.5B HKD	Loading...
HK		Jardine Matheson Holdings Ltd SGX:J36	22.1B USD	Loading...

Market Distribution

Min	-287 155%
30th Percentile	7%
Median	14.5%
70th Percentile	24.6%
Max	491.3%

Other Profitability Ratios

SM Investments Corp
Glance View

Economic Moat

None

Market Cap

14.4B USD

Industry

Industrial Conglomerates

SM Investments Corporation, founded by the visionary Henry Sy Sr., has sculpted itself into the backbone of the Philippines' burgeoning economy. From its humble beginnings as a shoe store in Manila in the 1950s, the Sy family steadily expanded their reach across the archipelago, weaving a tapestry of businesses that now form a colossal conglomerate. Today, SM Investments operates through a triad of core sectors: retail, banking, and real estate, each contributing to its robust revenue streams. The company's retail segment is anchored by SM Retail Inc., which encompasses an expansive network of department stores, supermarkets, and hypermarkets strategically positioned to capture both everyday shoppers and luxury consumers. With over 3,000 retail outlets nationwide, SM’s retail arm generates significant cash flow, appealing to a broad demographic by offering a diverse range of products—from clothing and electronics to groceries and home essentials. On the financial front, SM Investments holds a substantial stake in BDO Unibank, the largest bank in the Philippines by assets, further diversifying its income base. Its real estate operations, led by SM Prime Holdings, have reshaped the urban landscapes of the country. SM Prime develops, owns, and operates shopping malls, residential condos, commercial properties, and hotels. The iconic SM Mall of Asia, one of the largest shopping malls in the world, epitomizes the company's prowess in creating retail and leisure destinations that attract millions of visitors annually. Beyond its impressive footprint in mall and real estate development, SM Prime’s residential, office, and hotel properties contribute to recurring earnings, bolstered by the company's strategic focus on integrated property developments. This intricate network of businesses, each reinforcing the other, positions SM Investments as a dominant force in driving consumerism and economic progress throughout the Philippines.

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SVTMF Intrinsic Value

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What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

SM Investments Corp
OTC:SVTMF

Peer Comparison

Market Distribution

Other Profitability Ratios

SM Investments Corp
Glance View

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52 Week Range	11.81 15.2788
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SM Investments Corp OTC:SVTMF