PLDT, Inc. (PHI)
NYSE:PHI
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PLDT
(NYSE:PHI)
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Rating:64Neutral
Price Target:
$24.00
â–²(12.73% Upside)
Action:DowngradedDate:03/07/26
The score is driven mainly by solid underlying operating performance but constrained by leverage and historically uneven free-cash-flow consistency. Near-term technicals are weak (below key moving averages with oversold momentum), while valuation is supported by a moderate P/E and a high dividend yield. Earnings-call guidance improves the outlook via CapEx discipline and a stated deleveraging plan, though execution and financing/credit risks remain important.
Positive Factors
Fiber / Home subscriber growth
Rapid fiber net additions and record Home revenues reflect durable structural demand for fixed broadband and sticky subscription economics. Stable ARPU and low churn support recurring revenue and margin sustainability, reinforcing long-term cash generation as PLDT scales fiber penetration nationwide.
Negative Factors
High leverage
Material leverage raises refinancing, interest‑rate and covenant risks and constrains strategic optionality. Even with a plan to reach ~2.0x net debt/EBITDA, elevated gross debt and interest costs mean a significant portion of cash flow must go to financing, limiting reinvestment and increasing execution sensitivity.
Read all positive and negative factors
Positive Factors
Negative Factors
Fiber / Home subscriber growth
Rapid fiber net additions and record Home revenues reflect durable structural demand for fixed broadband and sticky subscription economics. Stable ARPU and low churn support recurring revenue and margin sustainability, reinforcing long-term cash generation as PLDT scales fiber penetration nationwide.
Read all positive factors
PLDT (PHI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.61B
Dividend Yield7.78%
Average Volume (3M)157.48K
Price to Earnings (P/E)9.0
Beta (1Y)0.35
Revenue Growth0.59%
EPS Growth8.86%
CountryUS
Employees14,904
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.62
Shares Outstanding216,055,770
10 Day Avg. Volume346,602
30 Day Avg. Volume157,479
Financial Highlights & Ratios
PEG Ratio-1.79
Price to Book (P/B)2.18
Price to Sales (P/S)1.24
P/FCF Ratio11.60
Enterprise Value/Market Cap135.52
Enterprise Value/Revenue2.86
Enterprise Value/Gross Profit4.00
Enterprise Value/Ebitda6.70
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.73
Revenue Forecast (FY)$3.86B
PLDT Business Overview & Revenue Model
Company Description
PLDT 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 ...
How the Company Makes Money
PLDT generates revenue primarily through its telecommunications services, which include mobile and fixed-line voice, broadband internet, and enterprise data solutions. Key revenue streams include mobile subscriptions, which account for a significa...
PLDT Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call presented a largely positive operational and strategic picture: modest revenue growth, resilient and improving EBITDA, strong execution in Home (fiber), Enterprise/ICT momentum, and a meaningful milestone with Maya reaching profitability and rapid deposit growth. Management also highlighted disciplined CapEx, sustained free cash flow and a clear deleveraging path (CapEx guidance mid-PHP 50 billion and plans to use asset monetization/REIT proceeds to pay down debt). Key weaknesses included higher financing costs and depreciation that pressured telco core and reported income, some operational disruption from natural calamities impacting Q4 Home activity, early-stage take-up at the new hyperscale data center, and provisioning/credit-risk considerations as Maya scales lending and credit-card products. On balance, the positives (diversified growth, profitability recovery at Maya, cost control, positive free cash flow and supportive balance-sheet actions) outweigh the lowlights, though continued execution on deleveraging, data-center monetization and credit quality will be important to monitor.Positive Updates
Modest Top-Line Growth and Stable EBITDA
Gross service revenues reached PHP 212.2 billion, up 2% YoY (PHP 3.8 billion). Consolidated/net service revenues were PHP 196.2 billion (up 1% YoY or PHP 1.5 billion). EBITDA (excl. MRP) rose 3% YoY to PHP 111.2 billion with margin steady at 52%.
Negative Updates
Telco Core Income and Reported Income Declines
Telco core income fell 3% YoY to PHP 33.9 billion, mainly due to higher depreciation and financing costs. Reported income was PHP 30.0 billion, down 7% YoY driven by lower foreign-exchange and derivative gains.
Read all updates
Q4-2025 Updates
Positive
Negative
Modest Top-Line Growth and Stable EBITDA
Gross service revenues reached PHP 212.2 billion, up 2% YoY (PHP 3.8 billion). Consolidated/net service revenues were PHP 196.2 billion (up 1% YoY or PHP 1.5 billion). EBITDA (excl. MRP) rose 3% YoY to PHP 111.2 billion with margin steady at 52%.
Read all positive updates
Company Guidance
PLDT guided to a mid‑PHP 50 billion CapEx program for 2026 (management later cited roughly PHP 53–57 billion), with the goal of sustaining positive free cash flow and working toward a ~2.0x net debt/EBITDA (net debt was PHP 284.7 billion and net debt/EBITDA 2.56x at end‑2025; EBITDA was PHP 111.2 billion). Management reiterated plans to steadily lower CapEx intensity (improved to 28% from 38% in 2024), pursue asset monetization (including a potential data‑center REIT covering eight DCs, excluding VITRO Santa Rosa, with proceeds earmarked to pay down debt), and begin deleveraging in the back half of 2026; CEO cash‑flow math showed an illustrative free cash flow of ~PHP 32 billion (EBITDA PHP 111B less CapEx ~PHP 55B, interest ~PHP 17B, taxes ~PHP 7B), dividends of ~PHP 21–22 billion and potential debt paydown of at least PHP 10 billion in H2 2026. Additional balance‑sheet metrics to note: gross debt PHP 296.9 billion, average debt maturity 6.5 years, 49% maturities post‑2031, interest cover 3.3x, and a 33/67 split fixed vs. floating.PLDT Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
54
Neutral
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 223.30B | 216.83B | 210.95B | 204.36B | 192.19B |
| Gross Profit | 133.04B | 158.25B | 155.17B | 154.75B | 150.16B |
| EBITDA | 116.37B | 85.66B | 89.78B | 93.44B | 90.85B |
| Net Income | 30.69B | 32.31B | 26.61B | 10.48B | 26.37B |
Balance Sheet | |||||
| Total Assets | 634.51B | 623.27B | 609.52B | 624.16B | 626.33B |
| Cash, Cash Equivalents and Short-Term Investments | 12.23B | 11.00B | 17.09B | 25.80B | 33.42B |
| Total Debt | 359.04B | 335.62B | 302.34B | 292.01B | 274.24B |
| Total Liabilities | 506.49B | 506.54B | 499.13B | 510.20B | 498.86B |
| Stockholders Equity | 126.83B | 115.42B | 105.22B | 108.73B | 123.22B |
Cash Flow | |||||
| Free Cash Flow | 23.85B | 13.45B | 7.33B | -19.35B | -12.01B |
| Operating Cash Flow | 85.35B | 81.73B | 85.77B | 76.20B | 91.97B |
| Investing Cash Flow | -60.27B | -65.70B | -55.12B | -33.01B | -103.64B |
| Financing Cash Flow | -23.20B | -22.33B | -39.42B | -42.30B | -4.90B |
PLDT Technical Analysis
Negative
21.29
Price Trends
22.21
Negative
21.56
Negative
20.80
Positive
Market Momentum
-0.39
Negative
43.94
Neutral
52.23
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 21.29 is below the 20-day moving average (MA) of 21.39, below the 50-day MA of 22.21, and above the 200-day MA of 20.80, indicating a neutral trend. The MACD of -0.39 indicates Negative momentum. The RSI at 43.94 is Neutral, neither overbought nor oversold. The STOCH value of 52.23 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
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $17.79B | 16.17 | 15.56% | 6.14% | -5.21% | -7.45% | |
72 Outperform | $5.22B | 10.60 | 7.24% | 5.57% | 19.02% | 9.26% | |
70 Outperform | $24.55B | 17.32 | 9.03% | 5.03% | -3.16% | 4.70% | |
64 Neutral | $4.61B | 9.02 | 24.66% | 7.78% | 0.59% | 8.86% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | $33.74B | 7.35 | -8.37% | 3.77% | 19.67% | -278.51% |
* Communication Services Sector Average
PHI
PLDT
21.21
0.50
2.42%
TLK
PT Telekomunikasi Indonesia Tbk
18.13
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VIV
Telefonica Brasil
15.25
6.78
79.98%
TKC
Turkcell Iletisim
5.99
-0.05
-0.79%
VOD
Vodafone
14.49
5.53
61.66%
PLDT Corporate Events
PLDT Discloses Filing of 2025 Annual and Sustainability Report with Philippine Regulators
Mar 2, 2026
On February 27, 2026, PLDT Inc. reported to the Philippine Stock Exchange and the Philippine Securities and Exchange Commission that it had issued a press release titled “PLDT Files 2025 Annual Report with Sustainability Report on Form 17-A ...
PLDT Declares 2025-Based Dividends and Confirms New Enterprise Business Head
Feb 26, 2026
On February 26, 2026, PLDT disclosed that its board had declared a regular cash dividend of P46.00 per common share, payable on April 16, 2026 to shareholders of record as of March 26, 2026, funded from audited unrestricted retained earnings as of...
PLDT Declares P12.15 Million Preferred Dividend, Ups Investment in Kayana Solutions
Jan 27, 2026
At a board meeting held on January 27, 2026, PLDT Inc. declared a cash dividend of P12.15 million on all outstanding shares of its Series IV Cumulative Non-Convertible Redeemable Preferred Stock for the quarter ending March 15, 2026, payable on Ma...
PLDT Discloses Voluntary Retirement of First Vice President Andrew Atienza
Jan 23, 2026
PLDT Inc. reported to U.S. and Philippine regulators in January 2026 that First Vice President Andrew T. Atienza is separating from the company due to voluntary retirement, effective January 23, 2026. In disclosures filed with the Philippine Stock...
PLDT Announces January 2026 Exit of Two First Vice Presidents, Sees No Material Operational Impact
Dec 29, 2025
On December 29, 2025, PLDT Inc. reported to regulators in the Philippines and the United States that two First Vice Presidents, Katrina L. Abelarde and Albert Mitchell L. Locsin, will separate from the company effective January 1, 2026—Abela...
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.