Company Valuation: PLDT Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 391,493 284,545 276,335 279,792 272,230 237,661 - -
Change - -27.32% -2.89% 1.25% -2.7% -12.7% - -
Enterprise Value (EV) 1 639,381 507,935 514,956 551,367 556,923 526,507 507,120 493,476
Change - -20.56% 1.38% 7.07% 1.01% -5.46% -3.68% -2.69%
P/E 14.9x 27.3x 10.4x 8.68x 9.09x 7.59x 7.26x 6.97x
PBR 3.18x 2.62x 2.63x 2.42x 2.15x 1.73x 1.57x 1.5x
PEG - -0.5x 0x 0.4x -1.28x 1.66x 1.62x 1.63x
Capitalization / Revenue 2.03x 1.39x 1.31x 1.29x 1.25x 1.06x 1.04x 1.02x
EV / Revenue 3.31x 2.47x 2.44x 2.54x 2.55x 2.36x 2.22x 2.11x
EV / EBITDA 6.65x 5.06x 4.94x 5.08x 5.01x 4.69x 4.38x 4.21x
EV / EBIT 14.5x -92.3x 9.81x 10.9x 11.1x 9.7x 8.92x 8.42x
EV / FCF -52.6x -28.9x 54.2x 34.3x 22.2x 7.7x 8.85x 8.4x
FCF Yield -1.9% -3.47% 1.84% 2.91% 4.51% 13% 11.3% 11.9%
Dividend per Share 2 84 134 95 97 94 93.29 98.55 105
Rate of return 4.64% 10.2% 7.43% 7.49% 7.46% 8.48% 8.96% 9.54%
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% 64.4% 65.1% 66.5%
Net sales 1 193,257 205,245 210,953 216,833 218,388 223,490 228,508 233,572
EBITDA 1 96,169 100,478 104,297 108,515 111,231 112,209 115,810 117,198
EBIT 1 44,000 -5,501 52,483 50,487 50,348 54,277 56,828 58,600
Net income 1 26,367 10,485 26,614 32,307 30,011 32,465 33,450 34,605
Net Debt 1 247,888 223,390 238,621 271,575 284,693 288,846 269,459 255,814
Reference price 2 1,812.00 1,317.00 1,279.00 1,295.00 1,260.00 1,100.00 1,100.00 1,100.00
Nbr of stocks (in thousands) 216,056 216,056 216,056 216,056 216,056 216,056 - -
Announcement Date 3/3/22 A 3/23/23 A 3/7/24 A 2/27/25 A 2/26/26 A - - -
1PHP in Million2PHP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11x1.3x4.13x7.03% 222B
10.15x2.47x6.53x6.14% 191B
12.78x2.14x5.49x4.24% 143B
13.3x1.84x8.01x3.15% 87.71B
11.68x0.9x3.36x6.54% 80.58B
11.49x1.77x4.48x2.85% 63.93B
14.84x2.65x8.25x5.16% 56.92B
22.87x5.28x19.27x4.78% 54.26B
14.49x2.69x6.01x4.48% 50.15B
Average 13.62x 2.34x 7.28x 4.93% 105.5B
Weighted average by Cap. 12.50x 2.09x 6.35x 5.37%

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