Company Valuation: PLDT Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 391,493 284,545 276,335 279,792 272,230 244,143 - -
Change - -27.32% -2.89% 1.25% -2.7% -10.32% - -
Enterprise Value (EV) 1 639,381 507,935 514,956 551,367 556,923 534,604 517,575 503,052
Change - -20.56% 1.38% 7.07% 1.01% -4.01% -3.19% -2.81%
P/E 14.9x 27.3x 10.4x 8.68x 9.09x 7.8x 7.46x 7.16x
PBR 3.18x 2.62x 2.63x 2.42x 2.15x 1.77x 1.6x 1.55x
PEG - -0.5x 0x 0.4x -1.28x 1.71x 1.66x 1.68x
Capitalization / Revenue 2.03x 1.39x 1.31x 1.29x 1.25x 1.1x 1.06x 1.05x
EV / Revenue 3.31x 2.47x 2.44x 2.54x 2.55x 2.41x 2.25x 2.16x
EV / EBITDA 6.65x 5.06x 4.94x 5.08x 5.01x 4.75x 4.45x 4.28x
EV / EBIT 14.5x -92.3x 9.81x 10.9x 11.1x 9.64x 8.94x 8.46x
EV / FCF -52.6x -28.9x 54.2x 34.3x 22.2x 9.1x 9.03x 7.55x
FCF Yield -1.9% -3.47% 1.84% 2.91% 4.51% 11% 11.1% 13.3%
Dividend per Share 2 84 134 95 97 94 95.66 100.4 105.7
Rate of return 4.64% 10.2% 7.43% 7.49% 7.46% 8.47% 8.89% 9.35%
EPS 2 121.8 48.26 122.9 149.3 138.6 144.9 151.5 157.9
Distribution rate 69% 278% 77.3% 65% 67.8% 66% 66.3% 66.9%
Net sales 1 193,257 205,245 210,953 216,833 218,388 222,284 229,761 233,048
EBITDA 1 96,169 100,478 104,297 108,515 111,231 112,490 116,355 117,439
EBIT 1 44,000 -5,501 52,483 50,487 50,348 55,454 57,915 59,449
Net income 1 26,367 10,485 26,614 32,307 30,011 32,038 33,472 33,779
Net Debt 1 247,888 223,390 238,621 271,575 284,693 290,461 273,432 258,909
Reference price 2 1,812.00 1,317.00 1,279.00 1,295.00 1,260.00 1,130.00 1,130.00 1,130.00
Nbr of stocks (in thousands) 216,056 216,056 216,056 216,056 216,056 216,056 - -
Announcement Date 3/3/22 3/23/23 3/7/24 2/27/25 2/26/26 - - -
1PHP in Million2PHP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.8x2.41x4.75x8.47% 3.91B
11.3x1.32x4.18x6.99% 224B
11.03x2.59x6.85x5.64% 208B
13.87x2.22x5.7x3.95% 159B
13.33x1.82x7.83x3.17% 85.82B
12.76x0.91x3.43x6.06% 81.31B
11.76x1.79x4.54x2.78% 69.77B
15.61x2.73x8.52x4.97% 59.05B
24.35x5.48x20.04x4.42% 57.92B
15.76x2.78x6.22x4.4% 51B
Average 13.76x 2.41x 7.21x 5.09% 99.93B
Weighted average by Cap. 13.20x 2.17x 6.54x 5.13%

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