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PLDT, Inc. (PHI)
NYSE:PHI
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PLDT
(NYSE:PHI)
Rating:73Outperform
Price Target:
$25.00
▲(10.42% Upside)
PLDT (PHI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.01B
Dividend Yield7.58%
Average Volume (3M)60.45K
Price to Earnings (P/E)8.9
Beta (1Y)0.36
Revenue Growth0.35%
EPS Growth19.08%
CountryUS
Employees14,904
SectorCommunication Services
Sector Strength90
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.70
Shares Outstanding216,055,770
10 Day Avg. Volume69,406
30 Day Avg. Volume60,449
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap2.13
Enterprise Value/Revenue0.05
Enterprise Value/Gross Profit0.06
Enterprise Value/Ebitda0.10
Forecast
1Y Price Target
$28.05Price Target Upside23.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
PLDT Business Overview & Revenue Model
Company DescriptionPLDT Inc. provides telecommunications and digital services in the Philippines. It operates through three segments: Wireless, Fixed Line, and Others. The company offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment. It also provides fixed line telecommunications services; business infrastructure and solutions; intelligent data processing and implementation, and data analytics insight generation services; and information and communications infrastructure for Internet-based services, e-commerce, customer relationship management, and information technology (IT) related services. In addition, the company offers managed IT outsourcing, Internet-based purchasing, IT consulting and professional, bills printing and other related value-added, and air transportation services; distributes Filipino channels and content services; and provides full-services customer rewards and loyalty programs. Further, it engages in the sale of mobile handsets, broadband data routers, tablets, and accessories, as well as provides domestic leased lines and alternative messaging solutions, such as over-the-top services, social media, and messenger application. As of December 31, 2021, it had 71,221,952 mobile broadband subscribers; 3,619,372 fixed line subscribers; and 2.8 million broadband subscribers. The company was formerly known as Philippine Long Distance Telephone Company and changed its name to PLDT Inc. in July 2016. PLDT Inc. was incorporated in 1928 and is headquartered in Makati City, the Philippines.
How the Company Makes MoneyPLDT generates revenue primarily through its telecommunications services, which include mobile, fixed-line, and broadband offerings. Key revenue streams consist of mobile data usage, which is driven by the increasing demand for internet connectivity and digital services, as well as fixed-line services, including landline subscriptions and broadband internet. PLDT also earns income from its enterprise solutions, offering a variety of services to businesses such as data connectivity, cloud solutions, and managed services. Significant partnerships with global technology providers enhance its service offerings and drive further revenue. Additionally, PLDT benefits from strategic investments in infrastructure, including fiber optics and mobile network expansion, which help capture a larger market share and improve service delivery.
PLDT Earnings Call Summary
Earnings Call Date:Aug 12, 2025
(Q2-2025)
| % Change Since: -1.22%|
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mix of stable financial performance and growth in key areas like fiber, ICT, and Maya's turnaround. However, concerns over regulatory challenges, slight declines in some revenue segments, and increased costs affected the overall sentiment.Q2-2025 Updates
Positive Updates
Stable Core Results and Revenue Growth
Service revenues net of interconnection costs reached PHP 97.1 billion, slightly up year-on-year. EBITDA increased by 3% to PHP 55.5 billion, with a stable EBITDA margin of 52%.
Maya's Turnaround
Maya achieved PHP 406 million in core income, marking its first profitable semester and a PHP 1.1 billion turnaround from a PHP 693 million loss last year.
Growth in Fiber and ICT Segments
Fiber revenues grew 7% year-on-year to PHP 29.5 billion, while ICT revenues increased by 15% year-on-year to PHP 3.2 billion.
Launch of AI-Ready Data Center
PLDT inaugurated VITRO Santa Rosa, the country's first operational AI-ready hyperscale facility, enhancing its digital infrastructure capabilities.
Innovative Offerings and 5G Expansion
Introduction of KiQ, an app-based mobile service targeting Gen Z, and expansion of 5G services with an 84% increase in 5G traffic year-on-year.
Sustainability Initiatives
PLDT signed agreements to source additional renewable energy and received several recognitions for its sustainability efforts.
Negative Updates
Decline in Telco Core Income
Telco core income decreased by 4% due to higher depreciation and financing costs.
Enterprise Revenues Slightly Down
Enterprise revenues declined by 1% year-on-year to PHP 23.5 billion due to declines in legacy businesses and delayed public sector deals.
Challenges with Konektadong Pinoy Bill
Potential constitutional issues with the bill, including discriminatory treatment of telcos and concerns over infrastructure access.
Softness in Individual Revenues
Individual revenues dropped by 1% year-on-year to PHP 42.3 billion, attributed to weaker legacy offerings.
Company Guidance
During the call, PLDT provided comprehensive financial and operational guidance for the first half of 2025. Service revenues, net of interconnection costs, reached PHP 97.1 billion, showing a slight year-on-year increase. The company's EBITDA rose by 3% to PHP 55.5 billion, maintaining a steady margin of 52%, attributed to fiber growth and disciplined cost management. Despite a 4% dip in telco core income due to higher depreciation and financing costs, core income increased by 1% to PHP 17.6 billion, buoyed by Maya's positive earnings. The Home segment saw a 4% revenue increase to PHP 30.4 billion, driven by strong fiber demand, while Enterprise revenues slightly decreased to PHP 23.5 billion. PLDT's CapEx for the first half was PHP 27.4 billion, with a revised full-year guidance of PHP 63 billion. The company is focused on network quality and expansion, including 5G and fiber developments. Additionally, Maya, PLDT's fintech arm, showed significant growth, with deposits increasing by 54% year-on-year and a 60% quarter-on-quarter net income growth. The call also highlighted ongoing efforts in cost optimization, asset monetization, and digital innovations, including the launch of the app-based mobile service KiQ targeting Gen Z users.PLDT Financial Statement Overview
Summary
PLDT demonstrates solid financial performance with strong profitability and operational efficiency. The income statement shows good margins, though revenue growth is modest. The balance sheet indicates high leverage, posing financial risks, but this is mitigated by a strong return on equity. Cash flows are healthy, with significant free cash flow growth and strong cash conversion metrics.Income Statement
PLDT's income statement shows a strong gross profit margin of 86.77% in TTM, indicating efficient cost management relative to revenue. The net profit margin is healthy at 14.47%, showcasing profitability. However, the revenue growth has been modest at 0.49% from the previous year, suggesting stable but limited growth. The EBIT margin is strong at 30.52%, and the EBITDA margin is robust at 49.02%, reflecting good operational efficiency.79
Positive
Balance Sheet
The balance sheet reflects a high debt-to-equity ratio of 2.92, pointing to significant leverage which poses a risk in terms of financial stability. Return on equity is solid at 27.29%, indicating efficient use of equity capital to generate profits. The equity ratio of 18.42% suggests a moderate reliance on equity financing compared to total assets.68
Positive
Cash Flow
The cash flow statement shows positive free cash flow growth of 37.79%, signaling improving cash generation. The operating cash flow to net income ratio of 2.62 indicates strong cash flow relative to reported net income, and the free cash flow to net income ratio of 0.59 reflects a decent conversion of profits into free cash flow.75
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 216.83B | 210.95B | 205.25B | 193.26B | 181.00B |
| Gross Profit | 189.10B | 155.17B | 184.62B | 176.22B | 166.56B |
| EBITDA | 114.34B | 108.83B | 105.43B | 99.54B | 93.00B |
| Net Income | 32.31B | 26.61B | 10.48B | 26.37B | 24.28B |
Balance Sheet | |||||
| Total Assets | 623.27B | 609.52B | 624.16B | 626.33B | 575.85B |
| Cash, Cash Equivalents and Short-Term Investments | 11.00B | 17.09B | 25.80B | 33.42B | 48.57B |
| Total Debt | 335.62B | 302.34B | 292.01B | 274.24B | 242.79B |
| Total Liabilities | 506.54B | 499.13B | 510.20B | 498.86B | 456.18B |
| Stockholders Equity | 115.42B | 105.22B | 108.73B | 123.22B | 115.41B |
Cash Flow | |||||
| Free Cash Flow | 13.45B | 7.33B | -19.35B | -10.58B | 11.01B |
| Operating Cash Flow | 81.73B | 85.77B | 76.20B | 91.81B | 87.52B |
| Investing Cash Flow | -65.70B | -55.12B | -33.01B | -103.48B | -74.35B |
| Financing Cash Flow | -22.33B | -39.42B | -42.30B | -4.90B | 3.70B |
PLDT Technical Analysis
Negative
22.64
Price Trends
22.34
Positive
22.55
Positive
22.51
Positive
Market Momentum
0.17
Positive
47.83
Neutral
26.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PHI, the sentiment is Negative. The current price of 22.64 is below the 20-day moving average (MA) of 22.97, above the 50-day MA of 22.34, and above the 200-day MA of 22.51, indicating a neutral trend. The MACD of 0.17 indicates Positive momentum. The RSI at 47.83 is Neutral, neither overbought nor oversold. The STOCH value of 26.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PHI.
PLDT Risk Analysis
PLDT disclosed 29 risk factors in its most recent earnings report. PLDT reported the most risks in the "Macro & Political" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
PLDT Peers Comparison
Overall Rating
UnderperformOutperform
Sector (56)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $19.69B | 19.61 | 8.20% | 3.59% | -6.51% | -0.21% | |
74 Outperform | $9.67B | 15.79 | 3.81% | 3.60% | -1.22% | -19.08% | |
74 Outperform | $20.98B | 14.15 | 17.71% | 6.34% | -5.13% | -5.90% | |
73 Outperform | $5.01B | 8.88 | 27.07% | 7.58% | 0.35% | 19.08% | |
68 Neutral | $8.60B | 12.03 | 11.08% | 4.43% | -4.74% | -16.23% | |
60 Neutral | $31.43B | ― | -3.55% | 6.42% | -4.73% | -251.31% | |
56 Neutral | C$4.26B | 1.37 | -13.88% | 5.36% | -5.96% | -56.64% |
* Communication Services Sector Average
Performance Comparison
PHI
PLDT
22.64
-4.14
-15.46%
KT
KT
20.70
6.55
46.29%
TLK
PT Telekomunikasi Indonesia Tbk
20.29
2.46
13.80%
SKM
Sk Telecom
22.42
-0.19
-0.84%
VIV
Telefonica Brasil
12.30
3.25
35.91%
TEF
Telefonica
5.58
1.30
30.37%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.