PLDT Inc. PHI

Communication ServicesTelecommunications ServicesPhilippines

Last close 17.79 USD on Nov 2, 2026, −11.8% year to date

Quant rating

Quant rating C Rank 82 of 152 in Communication Services

Growth D 107 of 152
Valuation A 3 of 152
Quality C 91 of 152
Revisions D 109 of 152
Momentum C 79 of 152

Wall Street consensus Strong Buy (1.00)Average target 26.42 USD +48.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.8B
Enterprise value: 9.4B
52-week range: 16.74 – 24.51
3-year range: 16.74 – 28.94
Dividend yield: 8.42%
Beta (5 years): 0.68
Shares outstanding: 216M
Next earnings: Nov 9, 2026

About the company

PLDT Inc. is a Philippines-based diversified telecommunication company. The Company operates through three business segments: Wireless, Fixed Line, and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines' fiber optic backbone and wireless and fixed line networks. Its Wireless segment provides mobile telecommunications services provided by Smart and DMPI; SBI and PDSI are its wireless broadband service provider; and mobile virtual network operations. Its fixed line segment provides telecommunications services. It also provides fixed line services through its subsidiaries, namely, ClarkTel, BCC and PLDT Global and certain subsidiaries, data center, cloud, cyber security services, managed information technology services and reseller ship, and distribution of Filipino channels. Its others segment includes PCEV, PGIH, PLDT Digital and its subsidiaries, and PGIC, an investment company.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	3,714	3,734	3,809	3,671	3,769	–
Revenue growth	−0.5%	−2.0%	3.8%	−2.6%	0.0%	−0.3%
EPS (basic, normalized)	2.41	2.76	2.85	2.81	2.81	–
EPS growth	−12.6%	−3.2%	1.6%	0.0%	–	–
Gross margin	86.8%	87.1%	87.9%	89.9%	90.9%	88.5%
Net margin	13.7%	14.9%	12.6%	5.4%	13.8%	12.1%
ROE	24.8%	29.3%	24.9%	9.6%	22.2%	22.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	207
Current ratio	0.44x
Long-term debt (mil)	5,217
Net debt (mil)	5,710
Total equity (mil)	2,182
Net debt / equity	2.62x
Net debt / EBITDA	2.95x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	3,714	−0.5%	2.5x	1,936	+2.8%	4.8x	2.41	−12.6%	7.4x
2026	3,615	−2.7%	2.6x	1,799	−7.1%	5.2x	2.58	+6.9%	6.9x
2027	3,694	+2.2%	2.5x	1,811	+0.7%	5.2x	2.68	+3.9%	6.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	3,615	0.0%	0.0%	−6.9%	2.58	0.0%	0.0%	−6.9%
2027	3,694	0.0%	0.0%	−6.5%	2.68	0.0%	0.0%	−1.8%
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Telecommunications Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PHI PLDT Inc.	3.8B	2.95x	13.7%	1.81x	6.9x	6.6x	5.2x	5.2x
9432 NTT, Inc.	100.3B	3.90x	7.2%	1.44x	13.9x	12.8x	8.6x	8.2x
TMUS T-Mobile US Inc	169.6B	2.47x	12.4%	3.02x	14.3x	11.3x	6.8x	6.3x
SFTBY Softbank Group Corp	159.9B	–	–	–	–	–	–	–
DTEGn Deutsche Telekom AG	140.2B	3.57x	8.1%	2.05x	11.4x	9.9x	5.8x	5.4x
KDDIF KDDI CORPORATION	72.2B	2.90x	11.6%	2.11x	14.2x	13.3x	8.7x	8.3x
Mean		3.16x	10.6%	2.09x	12.1x	10.8x	7.0x	6.7x
Median		2.95x	11.6%	2.05x	13.9x	11.3x	6.8x	6.3x

Technical analysis

1M+1.3%
3M−6.0%
1Y−1.0%
3Y−0.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, PLDT Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	3,714	3,734	3,809	3,671	3,769	3,770
Cost of revenue	490	481	462	372	342	320
Gross profit	3,224	3,253	3,346	3,299	3,427	3,450
Selling, general & administrative expenses	1,348	1,405	1,543	1,581	1,473	1,578
Research & development	–	–	–	–	–	–
Depreciation/amortization	875	840	1,059	1,776	1,077	1,041
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	0	1.2	0	−0.2	−26.3	–
Other operating expenses	69.6	98.0	−3.3	−132	9.3	3.2
Operating income	932	908	748	74.5	894	828
Net interest income (expense)	−276	−198	−237	−286	−237	−209
Gain (loss) on sale of assets	16.4	26.3	149	467	17.3	70.2
Other non-operating income (expense)	−0.3	−1.4	−1.6	−3.9	−2.1	−1.6
Net income before taxes	672	735	659	252	672	688
Provision for taxes	158	175	174	48.4	146	176
Minority interest	−3.5	−4.3	−3.8	−4.5	−6.1	−6.2
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	510	556	481	199	519	506
Extraordinary items	–	0	−0.7	−10.8	−2.4	–
Net income	510	556	481	188	517	506
EBIT, normalized	932	909	748	74.3	868	828
EBITDA, normalized	1,806	1,749	1,807	1,850	1,944	1,869
Basic EPS, normalized	2.41	2.76	2.85	2.81	2.81	–

Balance sheet in millions of USD, fiscal years

Balance sheet, PLDT Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	208	189	309	463	655	1,012
Receivables	553	568	496	500	460	497
Total inventory	31.3	56.9	60.3	64.1	71.8	85.1
Prepaid expenses	275	172	239	264	249	222
Other current assets	113	112	163	170	13.1	5.8
Total current assets	1,180	1,099	1,266	1,461	1,450	1,821
Property, plant & equipment	6,540	6,202	5,798	5,795	6,349	5,833
Goodwill	1,070	1,084	1,136	1,131	1,204	1,278
Intangibles	25.2	26.2	25.2	28.9	22.7	82.3
Long-term investments	977	988	989	1,007	1,122	1,178
Note receivable	5.7	8.4	9.6	11.9	11.1	13.9
Other long-term assets	998	1,325	1,781	1,777	2,125	1,787
Total assets	10,796	10,732	11,005	11,212	12,283	11,994
Liabilities
Accounts payable	959	1,149	1,463	1,889	1,956	1,717
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,024	1,254	1,354	1,467	1,676	1,850
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	426	528	317	768	315	450
Other current liabilities	297	314	417	312	453	431
Total current liabilities	2,707	3,245	3,551	4,437	4,398	4,448
Long-term debt	5,683	5,251	5,141	4,477	5,064	4,607
Minority interest	20.3	22.7	93.3	94.0	83.3	88.7
Other liabilities	229	226	319	251	321	447
Total liabilities	8,638	8,745	9,105	9,259	9,867	9,590
Shareholders' equity
Preferred stock	8.7	8.8	9.2	9.2	10.0	10.6
Common stock	18.6	18.8	19.7	19.6	21.4	22.8
Additional paid-in capital	2,214	2,244	2,353	2,341	2,556	2,714
Retained earnings (accumulated deficit)	737	584	398	338	672	534
Treasury stock	−111	−112	−117	−117	−128	−136
Other equity	−710	−756	−762	−637	−715	−742
Total equity	2,158	1,987	1,900	1,953	2,416	2,404
Total liabilities & shareholders' equity	10,796	10,732	11,005	11,212	12,283	11,994

Cash flow statement in millions of USD, fiscal years

Cash flow statement, PLDT Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	672	735	659	243	670	688
Depreciation, depletion & amortization	1,012	968	1,059	1,777	1,078	1,041
Deferred taxes	–	–	–	–	–	–
Non-cash items	345	279	191	−199	348	309
Changes in working capital	−349	−575	−360	−452	−292	−266
Cash from operations	1,679	1,407	1,548	1,369	1,804	1,772
Investing activities
Capital expenditures	−1,073	−1,176	−1,416	−1,716	−2,039	−1,627
Other investing cash flows	35.7	44.5	421	1,123	6.6	196
Cash from investing	−1,037	−1,131	−995	−593	−2,033	−1,430
Financing activities
Financing cash flow items	−234	−175	−190	−20.6	−183	−202
Cash dividends paid	−350	−358	−425	−458	−352	−353
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−27.0	149	−96.0	−282	439	565
Cash from financing	−611	−385	−712	−760	−96.2	9.6
Foreign exchange effects	0.4	2.4	−4.7	7.4	4.8	−20.9
Net change in cash	31.5	−106	−163	23.4	−320	331
Free cash flow	606	232	132	−348	−235	145

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.