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| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM Ps Multiple | 1.1x - 1.2x | 1.1x |
| Selected Fwd Ps Multiple | 1.1x - 1.2x | 1.1x |
| Fair Value | ₱645.86 - ₱713.84 | ₱679.85 |
| Upside | 15.3% - 27.5% | 21.4% |
| Benchmarks | Ticker | Full Ticker |
|---|---|---|
| SM Investments Corporation | - | PSE:SM |
| GT Capital Holdings, Inc. | - | PSE:GTCAP |
| San Miguel Corporation | - | PSE:SMC |
| Alliance Global Group, Inc. | - | PSE:AGI |
| LT Group, Inc. | - | PSE:LTG |
| Ayala Corporation | - | PSE:AC |
| Select Price / LTM Sales Ratio | ||||||||
| Benchmark Companies | ||||||||
| SM | GTCAP | SMC | AGI | LTG | AC | |||
| PSE:SM | PSE:GTCAP | PSE:SMC | PSE:AGI | PSE:LTG | PSE:AC | |||
| Historical Sales Growth | ||||||||
| 5Y CAGR | 5.5% | 7.6% | 7.1% | 6.2% | 6.5% | 4.6% | ||
| 3Y CAGR | 14.9% | 22.7% | 25.9% | 18.0% | 12.3% | 13.1% | ||
| Latest Twelve Months | 6.3% | 4.7% | 7.6% | 7.0% | 11.9% | 8.2% | ||
| Historical Net Income Profit Margin | ||||||||
| 5 Year Average Margin | 14.0% | 9.6% | 3.4% | 13.8% | 27.5% | 13.6% | ||
| Prior Fiscal Year | 12.5% | 9.4% | -1.3% | 9.0% | 22.0% | 10.6% | ||
| Latest Fiscal Year | 12.6% | 8.8% | -0.4% | 9.6% | 22.4% | 10.9% | ||
| Latest Twelve Months | 12.6% | 8.8% | -0.3% | 9.1% | 22.4% | 10.9% | ||
| Current Trading Multiples | ||||||||
| EV / LTM EBITDA | 6.4x | 4.3x | 8.8x | 6.5x | -3.4x | 8.4x | ||
| Price / LTM Sales | 1.4x | 0.3x | 0.1x | 0.3x | 1.0x | 0.9x | ||
| LTM P/E Ratio | 11.2x | 3.7x | -46.9x | 2.8x | 4.3x | 8.7x | ||
| Low | Mid | High | ||||||
| Benchmark LTM P/S Ratio | 0.1x | 0.3x | 1.4x | |||||
| Historical LTM P/S Ratio | 0.9x | 1.5x | 2.2x | |||||
| Selected Price / Sales Multiple | 1.1x | 1.1x | 1.2x | |||||
| (x) LTM Sales | 370,052 | 370,052 | 370,052 | |||||
| (=) Equity Value | 402,935 | 424,142 | 445,349 | |||||
| (/) Shares Outstanding | 623.6 | 623.6 | 623.6 | |||||
| Implied Value Range | 646.15 | 680.15 | 714.16 | |||||
| FX Rate: PHP/PHP | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 646.15 | 680.15 | 714.16 | 560.00 | ||||
| Upside / (Downside) | 15.4% | 21.5% | 27.5% | |||||
| Equity Value | |||||||
| Benchmark Companies | |||||||
| (in millions) | SM | GTCAP | SMC | AGI | LTG | AC | |
| Value of Common Equity | 921,655 | 106,566 | 190,712 | 54,089 | 123,308 | 349,214 | |
| (/) Shares Outstanding | 1,228.9 | 215.3 | 2,383.9 | 8,881.5 | 10,816.5 | 623.6 | |
| Implied Stock Price | 750.00 | 495.00 | 80.00 | 6.09 | 11.40 | 560.00 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 750.00 | 495.00 | 80.00 | 6.09 | 11.40 | 560.00 | |
| Trading Currency | PHP | PHP | PHP | PHP | PHP | PHP | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |