San Miguel Brewery HK Ltd. (0236) AI Stock Analysis

• Market Cap: HK$384.78M
• Dividend Yield: 4.85%
• Average Volume (3M): 235.62K
• Price to Earnings (P/E): 4.1
• Beta (1Y): 0.35
• Revenue Growth: -4.11%
• EPS Growth: -123.40%
• Country: HK
• Employees: 480
• Sector: Consumer Defensive
• Sector Strength: 55
• Industry: Beverages - Alcoholic
• EPS (TTM): -0.05
• Shares Outstanding: 373,570,560
• 10 Day Avg. Volume: 76,560
• 30 Day Avg. Volume: 235,618
• PEG Ratio: 0.15
• Price to Book (P/B): 0.57
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 12.45
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$1.00
• Price Target Upside: -2.91% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 60 Neutral
• Price Target: HK$1.00 ▼(-2.91%Downside)

San Miguel Brewery HK Ltd.'s overall stock score is influenced most significantly by its robust balance sheet and positive cash flow, despite challenges with declining revenue and negative profitability. Technical indicators suggest strong momentum, although overbought conditions may pose risks. The valuation is hampered by negative earnings, but a high dividend yield provides some support. The absence of earnings call data and corporate events limits additional insights.

San Miguel Brewery HK Ltd. Business Overview & Revenue Model

Company Description

San Miguel Brewery Hong Kong Limited manufactures and distributes bottled, canned, and draught beers in Hong Kong, Mainland China, the Philippines, and internationally. It sells its beers under the brand names of San Miguel Pale Pilsen, San Mig Light, San Miguel Cerveza Negra, and San Miguel Cerveza Blanca. The company was founded in 1948 and is based in Shatin, Hong Kong. San Miguel Brewery Hong Kong Limited is a subsidiary of Neptunia Corporation Limited.

How the Company Makes Money

San Miguel Brewery HK Ltd. generates revenue through the production and sale of its beer and beverage products. The company's primary revenue streams include the sale of its flagship beers, such as San Miguel Pale Pilsen and other specialty brews. It distributes its products through various channels, including direct sales to retailers, restaurants, and bars, as well as through partnerships with distributors and wholesalers. The company leverages its strong brand presence and extensive distribution network in Hong Kong and neighboring regions to maintain steady sales and expand its market reach. Strategic marketing and promotional activities further enhance its revenue generation capabilities.

San Miguel Brewery HK Ltd. Financial Statement Overview

Summary

San Miguel Brewery HK Ltd. showed declining revenue and negative profitability in 2024, impacting the income statement negatively. Despite these challenges, the balance sheet is strong with low leverage, and cash flow remains positive, indicating resilience.

Income Statement

San Miguel Brewery HK Ltd. exhibited a decline in revenue growth from 2023 to 2024, with a drop in total revenue from 741.6M to 711.2M HKD. The gross profit margin decreased slightly, and the company experienced a negative net profit margin of -2.83% in 2024, down from 11.58% in 2023. The EBIT and EBITDA margins also turned negative, reflecting operational challenges.

Balance Sheet

The company maintains a strong equity position, with a debt-to-equity ratio of 0.01, indicating low leverage and a high equity ratio of 86.6% in 2024. However, the return on equity dropped significantly due to negative net income, showing a need for profitability improvement.

Cash Flow

Operating cash flow remains positive at 67.7M HKD in 2024, and free cash flow is strong at 48.5M HKD, though it decreased year-over-year. The free cash flow to net income ratio is not meaningful due to negative net income, but operating cash flow to net income ratio indicates stronger cash flow generation relative to net profits.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	711.16M	741.62M	681.16M	595.62M	555.66M
Gross Profit	266.13M	285.44M	247.08M	243.04M	243.39M
EBITDA	3.21M	91.03M	54.16M	41.94M	22.24M
Net Income	-20.10M	85.90M	32.30M	19.36M	17.23M
Balance Sheet
Total Assets	759.21M	807.56M	719.34M	721.08M	743.74M
Cash, Cash Equivalents and Short-Term Investments	216.52M	179.98M	114.01M	132.39M	156.11M
Total Debt	6.07M	6.49M	6.92M	46.01M	92.94M
Total Liabilities	124.41M	135.08M	129.63M	149.98M	200.73M
Stockholders Equity	657.20M	696.57M	617.84M	602.84M	576.53M
Cash Flow
Free Cash Flow	48.52M	67.46M	21.80M	24.41M	31.58M
Operating Cash Flow	67.70M	91.96M	37.16M	37.03M	45.21M
Investing Cash Flow	-21.17M	-17.56M	17.66M	4.50M	-30.96M
Financing Cash Flow	-19.57M	-4.33M	-39.84M	-53.66M	-12.06M

San Miguel Brewery HK Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0236, the sentiment is Positive. The current price of 1.03 is above the 20-day moving average (MA) of 0.98, above the 50-day MA of 0.89, and above the 200-day MA of 0.81, indicating a bullish trend. The MACD of 0.04 indicates Positive momentum. The RSI at 64.94 is Neutral, neither overbought nor oversold. The STOCH value of 36.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0236.

San Miguel Brewery HK Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$26.77B	15.22	-4.18%	3.21%	1.01%	1.53%
0236	60 Neutral	HK$384.78M	4.08	-2.97%	4.85%	-4.11%	-123.40%
CAIHF	―	$170.40M	3.97	7.60%	―	―	―
CRHKF	―	$11.06B	16.77	15.25%	3.15%	―	―
TSGTF	―	$10.82B	14.31	14.90%	4.72%	―	―
1876	70 Outperform	HK$110.88B	19.58	6.94%	5.23%	-9.19%	-14.90%
0828	66 Neutral	HK$436.61M	13.08	11.24%	1.13%	3.26%	46.30%

San Miguel Brewery HK Ltd. Corporate Events

San Miguel Brewery HK Ltd. Schedules Board Meeting for Interim Results

San Miguel Brewery Hong Kong Limited has announced a Board meeting scheduled for July 28, 2025, to approve the interim results for the first half of the year and consider the payment of an interim dividend. This meeting is significant as it will provide insights into the company’s financial performance and potential shareholder returns, impacting its market positioning and stakeholder interests.

San Miguel Brewery HK Ltd. Successfully Passes AGM and EGM Resolutions

San Miguel Brewery HK Ltd. announced that all resolutions proposed at both the Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) held on April 23, 2025, were successfully passed by way of poll. The resolutions included the adoption of the company’s audited financial statements for 2024, approval of a final dividend, re-election of directors, authorization for directors’ remuneration, and re-appointment of KPMG as auditors. This successful passing of resolutions indicates strong shareholder support and is expected to positively impact the company’s governance and operational continuity.