SM Investments Corporation (SM) – the big parent company that owns many SM businesses – announced on April 29, 2026 that it earned PHP21.5 billion in the first three months of 2026. This is 7% more than the PHP20.1 billion it made during the same time last year.

To help explain what this means: think of SM like a piggy bank that owns several smaller piggy banks. When all the smaller piggy banks add up their money, the big piggy bank (SM) gets to count all of it together.

How Much Money Did SM Make?

During January to March 2026, SM’s total revenues (that’s all the money coming in from sales) reached PHP159.4 billion. This went up 5% compared to the PHP152.0 billion they made in the same period last year.

According to Frederic C. DyBuncio, the President and CEO of SM Investments, their retail business (the stores where people shop) did especially well. However, he also mentioned the company knows there are challenges ahead and will try to keep doing well by being careful with spending and focusing on what customers need, even when people have less money to spend.

Where Did the Money Come From?

SM makes money from different types of businesses, like having different piggy banks for different things. Here’s how much each business contributed to their earnings:

• Banking: 49% – Almost half of the money came from their banks
• Property: 28% – More than a quarter came from buildings, malls, and land
• Retail: 15% – About one-seventh came from their stores
• Portfolio Investments: 8% – The remaining portion came from other companies they invested in

Which Businesses Did Really Well?

SM Retail (the shopping business) performed particularly strong. It made PHP4.1 billion, which is 13% more than last year. The department stores did especially well, partly because it was graduation season and families were buying clothes and gifts. The food stores and specialty shops also contributed steady sales.

Other Investments also helped SM grow. Atlas Consolidated Mining & Development Corporation benefited because copper prices went up. 2GO Group (a logistics and travel company) grew across its different services. Goldilocks Bakeshop also saw more customers during the early graduation season.

Understanding SM’s Financial Position

According to the disclosure, SM has total assets worth PHP1.8 trillion. The company maintains what it describes as a “conservative capital structure” – meaning it’s careful about how much money it borrows versus owns. Specifically, 30% comes from debt (borrowed money) and 70% comes from equity (their own money).

About SM Investments Corporation

SM Investments is one of the biggest companies in the Philippines. It owns and operates leading businesses in three main areas: retail (shopping stores), banking (money and financial services), and property (malls, buildings, and land development).

Its retail operations are the largest and most varied in the country. SM Prime Holdings, Inc., its property division, is the largest integrated property developer in the Philippines. On the banking side, it has interests in BDO Unibank, Inc. (the country’s largest bank) and China Banking Corporation (one of the largest private domestic banks).

The company trades on the Philippine Stock Exchange under the ticker symbol SM, with 1,218,843,560 common shares outstanding as of this disclosure.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.