Company Valuation: Aboitiz Power Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 218,551 250,560 272,381 271,661 317,058 328,227 - -
Change - 14.65% 8.71% -0.26% 16.71% 3.52% - -
Enterprise Value (EV) 1 395,858 434,193 454,988 458,102 590,652 609,494 628,951 624,827
Change - 9.68% 4.79% 0.68% 28.93% 3.19% 3.19% -0.66%
P/E 10.5x 9.1x 8.36x 8.02x 16.3x 8.71x 8.52x 8.46x
PBR 1.48x 1.46x 1.54x 1.34x 1.58x 1.51x 1.39x 1.28x
PEG - 0.3x 0.4x 2.01x -0.4x 0.1x 3.96x 10.71x
Capitalization / Revenue 1.99x 1.29x 1.32x 1.38x 1.6x 1.47x 1.43x 1.36x
EV / Revenue 3.6x 2.24x 2.2x 2.32x 2.98x 2.74x 2.74x 2.59x
EV / EBITDA 7.85x 7.78x 6.7x 6.39x 11x 11x 10.1x 9.69x
EV / EBIT 10.1x 9.88x 14.3x 11.1x 15.7x 14.5x 12.9x 12.6x
EV / FCF 14.1x 20.5x 14.6x 19.1x 24.3x 22.9x 12.9x 13.8x
FCF Yield 7.08% 4.88% 6.83% 5.23% 4.11% 4.36% 7.74% 7.23%
Dividend per Share 2 0.85 1.87 2.3 1.45 2.28 2.233 2.577 2.688
Rate of return 2.86% 5.49% 6.08% 3.85% 5.18% 4.9% 5.66% 5.9%
EPS 2 2.83 3.74 4.52 4.7 2.7 5.232 5.344 5.386
Distribution rate 30% 50% 50.9% 30.9% 84.4% 42.7% 48.2% 49.9%
Net sales 1 110,043 193,994 207,100 197,492 198,479 222,674 229,627 241,172
EBITDA 1 50,401 55,813 67,914 71,734 53,733 55,607 62,228 64,493
EBIT 1 39,115 43,960 31,785 41,195 37,506 41,936 48,734 49,399
Net income 1 20,837 27,535 33,102 33,900 19,450 36,160 37,436 40,215
Net Debt 1 177,307 183,633 182,606 186,441 273,595 281,267 300,725 296,600
Reference price 2 29.70 34.05 37.80 37.70 44.00 45.55 45.55 45.55
Nbr of stocks (in thousands) 7,358,604 7,358,604 7,205,854 7,205,854 7,205,854 7,205,854 - -
Announcement Date 3/9/22 3/19/23 3/12/24 3/17/25 3/30/26 - - -
1PHP in Million2PHP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.71x2.74x10.96x4.9% 5.25B
29.88x6.96x18.79x-.--% 39.36B
13.71x2.71x10.12x3.04% 31.78B
12.45x6.71x13.96x3.53% 29.14B
21.1x10.58x15.24x2.14% 27.48B
22.35x7.65x12.94x1.73% 27.09B
73.4x18.41x21.87x-.--% 21.87B
16.12x5.06x10.05x3.49% 18.19B
Average 24.72x 7.60x 14.24x 2.35% 25.02B
Weighted average by Cap. 25.50x 7.81x 14.77x 1.97%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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