NYSE : PHI
PLDT Inc. — Financial statements
Communication Services · Telecom Services · Philippines
Last price 17.78 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.81B
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Financial statements
PLDT Inc. (PHI) reported revenue of 220.89B PHP (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in PHP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 220.89B | 218.39B | 216.83B | 210.95B | 204.36B | 192.19B |
| Cost of Revenue | 62.78B | 59.67B | 58.58B | 55.78B | 49.61B | 42.03B |
| Gross Profit | 158.12B | 158.72B | 158.25B | 155.17B | 154.75B | 150.16B |
| Selling, General & Admin | 42.25B | 43.55B | 45.73B | 49.45B | 50.52B | 52.85B |
| Operating Expenses | 101.18B | 100.22B | 100.33B | 98.53B | 103.22B | 104.93B |
| Operating Income | 56.94B | 58.50B | 57.93B | 56.64B | 51.54B | 45.23B |
| Interest Expense | -18.08B | -18.15B | -15.42B | -13.66B | -11.54B | -10.30B |
| Interest & Investment Income | 671.00M | 719.00M | 916.00M | 1.02B | 653.00M | 655.00M |
| Earnings From Equity Investments | 373.00M | -428.00M | -990.00M | -2.81B | -3.30B | -1.10B |
| Currency Exchange Gain (Loss) | -3.32B | -550.00M | -36.00M | 1.15B | -4.69B | -3.90B |
| Other Non Operating Income (Expenses) | 8.61B | 6.22B | 6.18B | 1.58B | 11.02B | 4.52B |
| EBT Excluding Unusual Items | 45.19B | 46.32B | 48.58B | 43.92B | 43.68B | 35.11B |
| Merger & Restructuring Charges | -964.00M | -1.39B | -1.69B | -2.02B | -5.03B | -269.00M |
| Gain (Loss) on Sale of Investments | 660.00M | 1.25B | ||||
| Gain (Loss) on Sale of Assets | 155.00M | 966.00M | 1.53B | 8.24B | 26.00B | 884.00M |
| Asset Writedown | -6.41B | -6.41B | -5.73B | -13.66B | -51.57B | -4.09B |
| Other Unusual Items | 295.00M | 1.37B | ||||
| Pretax Income | 37.98B | 39.49B | 42.69B | 36.48B | 14.03B | 34.26B |
| Income Tax Expense | 8.74B | 9.27B | 10.14B | 9.61B | 2.70B | 7.46B |
| Earnings From Continuing Operations | 29.24B | 30.22B | 32.55B | 26.86B | 11.34B | 26.80B |
| Earnings From Discontinued Operations | -41.00M | -600.00M | -121.00M | |||
| Net Income to Company | 29.24B | 30.22B | 32.55B | 26.82B | 10.73B | 26.68B |
| Minority Interest in Earnings | -254.00M | -207.00M | -248.00M | -210.00M | -250.00M | -309.00M |
| Net Income | 28.98B | 30.01B | 32.31B | 26.61B | 10.48B | 26.37B |
| Preferred Dividends & Other Adjustments | 59.00M | 59.00M | 59.00M | 59.00M | 59.00M | 59.00M |
| Net Income to Common | 28.93B | 29.95B | 32.25B | 26.55B | 10.43B | 26.31B |
| Shares Outstanding (Basic) | 216.06M | 216.06M | 216.06M | 216.06M | 216.06M | 216.06M |
| Shares Outstanding (Diluted) | 216.06M | 216.06M | 216.06M | 216.06M | 216.06M | 216.06M |
| EPS (Basic) | 133.88 | 138.63 | 149.26 | 122.91 | 48.26 | 121.76 |
| EPS (Diluted) | 133.88 | 138.63 | 149.26 | 122.91 | 48.25 | 121.76 |
| Free Cash Flow | 45.29B | 35.87B | 13.47B | 7.33B | -19.35B | -12.01B |
| Free Cash Flow Per Share | 209.61 | 166.04 | 62.36 | 33.93 | -89.56 | -55.57 |
| Dividend Per Share | 92.00 | 94.00 | 97.00 | 95.00 | 92.00 | 84.00 |
| Gross Margin | 71.58% | 72.68% | 72.98% | 73.56% | 75.73% | 78.13% |
| Operating Margin | 25.77% | 26.79% | 26.72% | 26.85% | 25.22% | 23.53% |
| Profit Margin | 13.10% | 13.71% | 14.87% | 12.59% | 5.10% | 13.69% |
| Free Cash Flow Margin | 20.50% | 16.43% | 6.21% | 3.48% | -9.47% | -6.25% |
| EBITDA | 88.86B | 88.76B | 85.66B | 82.69B | 93.44B | 90.85B |
| EBITDA Margin | 40.23% | 40.64% | 39.51% | 39.20% | 45.73% | 47.27% |
| D&A For EBITDA | 31.92B | 30.26B | 27.73B | 26.05B | 41.91B | 45.62B |
| EBIT | 56.94B | 58.50B | 57.93B | 56.64B | 51.54B | 45.23B |
| EBIT Margin | 25.77% | 26.79% | 26.72% | 26.85% | 25.22% | 23.53% |
| Effective Tax Rate | 23.01% | 23.48% | 23.75% | 26.35% | 19.22% | 21.77% |
| Revenue as Reported | 220.89B | 218.39B | 216.83B | 210.95B | 204.36B | 192.19B |
Balance sheet
Fiscal year January - December; amounts in PHP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 11.90B | 11.87B | 10.01B | 16.18B | 25.21B | 23.91B |
| Short-Term Investments | 787.00M | 369.00M | 992.00M | 642.00M | 335.00M | 2.40B |
| Trading Asset Securities | 269.00M | 254.00M | 7.13B | |||
| Cash & Short-Term Investments | 12.68B | 12.23B | 11.00B | 17.09B | 25.80B | 33.44B |
| Receivables | 36.48B | 32.52B | 33.01B | 27.47B | 27.83B | 23.48B |
| Inventory | 2.79B | 1.84B | 3.31B | 3.34B | 3.57B | 3.66B |
| Prepaid Expenses | 15.87B | 16.19B | 9.97B | 13.21B | 15.36B | 12.71B |
| Other Current Assets | 6.72B | 6.62B | 6.53B | 9.01B | 8.77B | 647.00M |
| Total Current Assets | 74.54B | 69.41B | 63.83B | 70.12B | 81.33B | 73.93B |
| Property, Plant & Equipment | 375.46B | 376.77B | 357.18B | 319.82B | 321.61B | 322.82B |
| Long-Term Investments | 58.38B | 57.42B | 57.36B | 54.76B | 56.06B | 57.20B |
| Goodwill | 62.94B | 62.94B | 62.94B | 62.94B | 62.94B | 61.38B |
| Other Intangible Assets | 1.40B | 1.48B | 1.52B | 1.39B | 1.61B | 1.16B |
| Long-Term Accounts Receivable | 373.00M | 333.00M | 485.00M | 531.00M | 662.00M | 566.00M |
| Long-Term Deferred Tax Assets | 9.59B | 11.58B | 14.64B | 18.17B | 17.64B | 13.38B |
| Other Long-Term Assets | 55.60B | 54.89B | 65.31B | 81.78B | 82.31B | 95.89B |
| Total Assets | 638.28B | 634.83B | 623.27B | 609.52B | 624.16B | 626.33B |
| Accounts Payable | 47.00B | 50.15B | 58.67B | 74.69B | 98.93B | 96.51B |
| Accrued Expenses | 62.62B | 66.47B | 80.91B | 81.34B | 87.92B | 88.65B |
| Current Portion of Long-Term Debt | 30.92B | 16.18B | 23.34B | 11.65B | 32.29B | 11.51B |
| Current Portion of Leases | 10.19B | 8.90B | 7.33B | 5.92B | 10.48B | 4.55B |
| Current Income Taxes Payable | 1.37B | 946.00M | 1.86B | 4.63B | 982.00M | 583.00M |
| Current Unearned Revenue | 9.60B | 9.45B | 10.44B | 10.69B | 9.50B | 10.06B |
| Other Current Liabilities | 6.90B | 7.06B | 5.91B | 7.76B | 6.91B | 4.57B |
| Total Current Liabilities | 168.59B | 159.14B | 188.46B | 196.67B | 247.00B | 216.43B |
| Long-Term Debt | 267.01B | 278.87B | 258.25B | 243.15B | 217.29B | 241.07B |
| Long-Term Leases | 52.91B | 55.28B | 46.70B | 41.62B | 31.96B | 17.13B |
| Long-Term Unearned Revenue | 6.84B | 4.88B | 5.62B | 8.21B | 7.62B | 3.56B |
| Pension & Post-Retirement Benefits | 4.03B | 3.81B | 3.55B | 5.66B | 1.75B | 7.76B |
| Long-Term Deferred Tax Liabilities | 60.00M | 75.00M | 60.00M | 165.00M | 204.00M | 169.00M |
| Other Long-Term Liabilities | 3.72B | 4.69B | 3.90B | 3.65B | 4.39B | 4.90B |
| Total Liabilities | 503.16B | 506.75B | 506.54B | 499.13B | 510.20B | 491.02B |
| Common Stock | 1.09B | 1.09B | 1.09B | 1.09B | 1.09B | 1.09B |
| Additional Paid-In Capital | 130.20B | 130.20B | 130.31B | 130.31B | 130.31B | 130.31B |
| Retained Earnings | 43.80B | 43.33B | 33.90B | 22.02B | 18.80B | 34.24B |
| Treasury Stock | -6.50B | -6.50B | -6.50B | -6.50B | -6.50B | -6.50B |
| Comprehensive Income & Other | -35.28B | -41.74B | -43.89B | -42.21B | -35.48B | -36.44B |
| Total Common Equity | 133.31B | 126.38B | 114.91B | 104.71B | 108.22B | 122.71B |
| Minority Interest | 1.30B | 1.19B | 1.32B | 5.17B | 5.23B | 4.25B |
| Shareholders' Equity | 135.12B | 128.08B | 116.73B | 110.39B | 113.96B | 135.31B |
| Total Liabilities & Equity | 638.28B | 634.83B | 623.27B | 609.52B | 624.16B | 626.33B |
| Total Debt | 361.02B | 359.22B | 335.62B | 302.34B | 292.01B | 274.27B |
| Net Cash (Debt) | -348.33B | -346.99B | -324.62B | -285.26B | -266.21B | -240.83B |
| Net Cash Per Share | -1,612.24 | -1,606.00 | -1,502.49 | -1,320.29 | -1,232.16 | -1,114.66 |
| Filing Date Shares Outstanding | 216.06M | 216.06M | 216.06M | 216.06M | 216.06M | 216.06M |
| Total Common Shares Outstanding | 216.06M | 216.06M | 216.06M | 216.06M | 216.06M | 216.06M |
| Working Capital | -94.05B | -89.73B | -124.63B | -126.55B | -165.67B | -142.50B |
| Book Value Per Share | 617.00 | 584.94 | 531.85 | 484.63 | 500.88 | 567.94 |
| Tangible Book Value | 68.97B | 61.96B | 50.45B | 40.37B | 43.67B | 60.17B |
| Tangible Book Value Per Share | 319.21 | 286.77 | 233.48 | 186.86 | 202.11 | 278.50 |
| Land | 4.30B | 4.30B | 4.96B | 4.50B | 4.59B | 4.45B |
| Buildings | 35.27B | 35.18B | 27.88B | 28.88B | 26.79B | 26.84B |
| Machinery | 35.56B | 35.98B | 37.00B | 41.07B | 125.34B | 109.08B |
| Construction In Progress | 69.34B | 68.81B | 68.22B | 67.84B | 55.43B | 56.51B |
Cash flow statement
Fiscal year January - December; amounts in PHP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 28.98B | 30.01B | 32.31B | 26.61B | 10.48B | 26.37B |
| Depreciation & Amortization | 41.82B | 39.54B | 35.05B | 32.95B | 47.62B | 50.95B |
| Other Amortization | 13.65B | 13.56B | 15.95B | 12.20B | 376.00M | 239.00M |
| Loss (Gain) From Sale of Assets | -155.00M | -966.00M | -1.53B | -8.24B | -26.00B | -884.00M |
| Asset Writedown & Restructuring Costs | 6.76B | 6.76B | 5.75B | 13.93B | 51.64B | 4.13B |
| Loss (Gain) From Sale of Investments | 70.00M | -610.00M | -766.00M | |||
| Loss (Gain) on Equity Investments | -373.00M | 428.00M | 990.00M | 2.81B | 3.30B | 1.10B |
| Stock-Based Compensation | 1.14B | 839.00M | 1.27B | 1.19B | ||
| Provision & Write-off of Bad Debts | 3.83B | 3.94B | 4.06B | 4.34B | 5.35B | 3.95B |
| Other Operating Activities | 23.33B | 23.36B | 18.10B | 19.22B | 4.68B | 18.48B |
| Change in Accounts Receivable | -6.06B | -1.79B | -9.28B | 1.05B | -8.57B | -3.75B |
| Change in Inventory | -35.00M | 1.74B | 31.00M | 597.00M | 410.00M | 57.00M |
| Change in Accounts Payable | -6.08B | -7.75B | -27.77B | -21.29B | -18.31B | 29.38B |
| Change in Other Net Operating Assets | -7.86B | -10.09B | 6.92B | 700.00M | 5.05B | -38.47B |
| Operating Cash Flow | 97.81B | 98.74B | 81.73B | 85.77B | 76.20B | 91.97B |
| Capital Expenditures | -52.52B | -62.86B | -68.26B | -78.44B | -95.55B | -103.98B |
| Sale of Property, Plant & Equipment | 551.00M | 1.22B | 4.83B | 23.97B | 60.83B | 1.22B |
| Sale (Purchase) of Intangibles | -217.00M | -217.00M | -29.00M | |||
| Sale (Purchase) of Real Estate | 47.00M | |||||
| Investment in Securities | -270.00M | 196.00M | -3.13B | -1.63B | 1.28B | -1.76B |
| Other Investing Activities | 630.00M | 686.00M | 881.00M | 973.00M | 436.00M | 884.00M |
| Investing Cash Flow | -51.78B | -60.98B | -65.70B | -55.12B | -33.01B | -103.64B |
| Short-Term Debt Issued | 1.32B | 16.00B | ||||
| Long-Term Debt Issued | 36.15B | 37.00B | 38.00B | 5.00B | 51.50B | |
| Total Debt Issued | 25.70B | 37.47B | 37.00B | 38.00B | 21.00B | 51.50B |
| Short-Term Debt Repaid | -1.02B | -10.00B | -6.00B | |||
| Long-Term Debt Repaid | -38.04B | -24.14B | -33.32B | -30.68B | -29.11B | |
| Lease Payments | -15.22B | -14.33B | -12.08B | -10.71B | -8.33B | -6.55B |
| Total Debt Repaid | -38.27B | -39.06B | -24.14B | -43.32B | -36.68B | -29.11B |
| Net Debt Issued (Repaid) | -12.57B | -1.59B | 12.86B | -5.32B | -15.68B | 22.39B |
| Dividends Paid | -20.31B | -20.59B | -20.75B | -20.30B | -25.23B | -17.71B |
| Other Financing Activities | -12.32B | -13.75B | -14.51B | -10.77B | -9.22B | -9.58B |
| Financing Cash Flow | -45.21B | -35.93B | -22.33B | -39.42B | -42.30B | -4.90B |
| Foreign Exchange Rate Adjustments | 237.00M | 23.00M | 138.00M | -263.00M | 414.00M | 244.00M |
| Net Cash Flow | 1.06B | 1.85B | -6.17B | -9.03B | 1.30B | -16.33B |
| Free Cash Flow | 45.29B | 35.87B | 13.47B | 7.33B | -19.35B | -12.01B |
| Free Cash Flow Margin | 20.50% | 16.43% | 6.21% | 3.48% | -9.47% | -6.25% |
| Free Cash Flow Per Share | 209.61 | 166.04 | 62.36 | 33.93 | -89.56 | -55.57 |
| Levered Free Cash Flow | 1.46B | -12.83B | -10.69B | -28.22B | -32.46B | -15.07B |
| Unlevered Free Cash Flow | 12.38B | -1.86B | -1.51B | -20.09B | -25.62B | -8.87B |
| Free Cash Flow After Leases | 30.07B | 21.55B | 1.40B | -3.38B | -27.68B | -18.55B |
| Cash Interest Paid | 13.11B | 13.23B | 10.74B | 9.71B | 9.01B | 8.92B |
| Cash Income Tax Paid | 2.56B | 2.66B | 3.28B | 2.06B | 4.19B | 2.12B |
| Change in Working Capital | -20.04B | -17.89B | -30.09B | -18.93B | -21.42B | -12.78B |
Ratios
Fiscal year January - December; amounts in PHP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.80B | 4.62B | 4.82B | 4.99B | 5.11B | 7.60B |
| Enterprise Value | 9.30B | 10.56B | 10.18B | 10.40B | 10.09B | 12.52B |
| Last Close Price | 17.78 | 20.59 | 19.92 | 20.12 | 18.42 | 27.50 |
| PE Ratio | 8.40 | 9.09 | 8.68 | 10.41 | 27.29 | 14.88 |
| PS Ratio | 1.06 | 1.25 | 1.29 | 1.31 | 1.39 | 2.04 |
| PB Ratio | 1.73 | 2.12 | 2.40 | 2.50 | 2.50 | 2.89 |
| P/TBV Ratio | 3.39 | 4.39 | 5.55 | 6.84 | 6.52 | 6.51 |
| P/FCF Ratio | 5.32 | 7.59 | 20.77 | 37.70 | ||
| P/OCF Ratio | 2.46 | 2.76 | 3.42 | 3.22 | 3.73 | 4.26 |
| EV/Sales Ratio | 2.59 | 2.85 | 2.73 | 2.73 | 2.75 | 3.35 |
| EV/EBITDA Ratio | 6.44 | 7.00 | 6.90 | 6.96 | 6.01 | 7.09 |
| EV/EBIT Ratio | 10.05 | 10.63 | 10.21 | 10.17 | 10.90 | 14.25 |
| EV/FCF Ratio | 13.00 | 17.33 | 43.89 | 78.58 | ||
| Debt / Equity Ratio | 2.67 | 2.81 | 2.88 | 2.74 | 2.56 | 2.03 |
| Debt / EBITDA Ratio | 3.66 | 3.66 | 3.61 | 3.37 | 2.94 | 2.85 |
| Debt / FCF Ratio | 7.97 | 10.01 | 24.91 | 41.25 | ||
| Net Debt / Equity Ratio | 2.58 | 2.71 | 2.78 | 2.58 | 2.34 | 1.78 |
| Net Debt / EBITDA Ratio | 3.92 | 3.91 | 3.79 | 3.45 | 2.85 | 2.65 |
| Net Debt / FCF Ratio | 7.69 | 9.67 | 24.09 | 38.92 | -13.76 | -20.06 |
| Asset Turnover | 0.35 | 0.35 | 0.35 | 0.34 | 0.33 | 0.32 |
| Inventory Turnover | 23.87 | 23.18 | 17.63 | 16.15 | 13.72 | 10.85 |
| Quick Ratio | 0.29 | 0.28 | 0.23 | 0.23 | 0.22 | 0.26 |
| Current Ratio | 0.44 | 0.44 | 0.34 | 0.36 | 0.33 | 0.34 |
| Return on Equity (ROE) | 22.45% | 24.69% | 28.67% | 23.95% | 9.10% | 20.39% |
| Return on Assets (ROA) | 5.61% | 5.81% | 5.87% | 5.74% | 5.15% | 4.70% |
| Return on Invested Capital (ROIC) | 9.20% | 9.77% | 10.55% | 10.75% | 11.01% | 10.14% |
| Return on Capital Employed (ROCE) | 12.10% | 12.30% | 13.30% | 13.70% | 13.70% | 11.00% |
| Earnings Yield | 11.91% | 11.02% | 11.55% | 9.63% | 3.69% | 6.73% |
| FCF Yield | 18.80% | 13.18% | 4.82% | 2.65% | -6.80% | -3.07% |
| Dividend Yield | 6.25% | 7.46% | 7.49% | 7.43% | 6.99% | 4.64% |
| Payout Ratio | 52.29% | 68.61% | 64.23% | 76.29% | 240.68% | 67.17% |
| Total Shareholder Return | 6.23% | 7.46% | 7.49% | 7.43% | 6.99% | 4.64% |