Accessible version San Miguel Food and Beverage, Inc. FB sees resiliency in 2H26, particularly on seasonal high demand during 4Q across all business units. The proposed increase in excise taxes on fermented liquor and spirits has yet to be deliberated upon and if ever, it may be implemented in 2027. | Estimates (Dec) (PHP) | 2024A | 2025A | 2026E | 2027E | 2028E | | --- | --- | --- | --- | --- | --- | | Net Income (Adjusted - mn) | 27,274 | 30,128 | 25,263 | 25,442 | 25,454 | | EPS | 4.62 | 5.10 | 4.28 | 4. ...