MER.PSE Manila Electric Co
- Market cap
- PHP 293B
- P/E
- -
- P/B
- -
- ROE
- 29.7%
- Dividend yield
- 8.14%
- Fundamental score
- 2.3/5
Ratios use the latest price and the current fiscal year annualized from 3 quarters up to Sep 2025.
Is MER.PSE undervalued?
Graham numberThe Graham number of Manila Electric Co cannot be estimated reliably (it needs positive earnings and book value).
Graham number = √(22.5 × EPS × book value per share): the most a defensive investor should pay according to Benjamin Graham. An estimate, not a recommendation to buy or sell. How is it calculated?
Manila Electric Co fundamental analysis
10 of 22 checks passedROE 2/2
High return on equity (29.7%), above 20%.
ROA 1/1
Return on assets (6.2%) is above the industry median (2.9%).
Profit Consistency 2/2
Profitable for 10 consecutive years.
Earnings Growth 5Y 1/1
Earnings per share grew over the past 5 years.
Earnings Acceleration 1/1
Last year's EPS growth (20.6%) is above the 5-year average (14.5% a year).
Earnings Growth vs Industry 1/1
Last year's EPS growth (20.6%) is above the industry median (7.5%).
Revenue Growth 2/2
Revenue grew 13.9% a year over the past 3 years.
Short-term Liquidity 0/1
Current assets do not cover short-term liabilities.
Long-term Liabilities 0/1
Current assets do not cover long-term liabilities.
Debt to Equity 0/2
High debt to equity (123.3%), above 100%.
Debt Trend 0/1
Debt to equity has risen over the past 5 years.
Debt Coverage 1/1
Operating cash flow covers 20% of total debt.
Interest Coverage 0/1
EBIT is negative, against interest expense, below 5x.
PE vs Market 0/1
PE is negative or not available.
PE vs Industry 0/1
PE is negative or not available.
PBV 0/1
Price to book is negative or not available.
Graham Number 0/1
Graham number needs positive earnings and book value.
PEG 0/1
PEG needs positive PE and positive 5-year earnings growth.
Dividend Yield 0/2
Dividend yield cannot be calculated.
Dividend Stability 0/2
Dividends were not paid steadily for the past 5 years.
Dividend Growth 1/1
Dividends paid grew over the past 5 years.
Payout Ratio 1/1
Payout ratio is 51.9%, covered by earnings.
Each check is worth 1 or 2 points by how much it says about the quality of the company. The score is the share of points earned, out of 5. Ask AI to explain this score
Manila Electric Co stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
Manila Electric Co financial statements
2025 annualized: Fiscal year 2025 is not finished. Income statement and cash flow are annualized from 3 quarters up to Sep 30, 2025, the balance sheet is the latest quarter. Figures change when the annual report is published.
Manila Electric Co annual financial statements
| Item | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 Anlz |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 250B | 249B | 275B | 295B | 310B | 275B | 319B | 427B | 444B | 470B | 496B |
| Operating Income | 23.4B | 25.7B | 26.4B | 28.4B | 31.2B | 21.0B | 29.3B | 20.2B | 36.3B | 45.0B | 52.7B |
| Net Income | 19.1B | 19.2B | 20.4B | 23.0B | 23.3B | 16.3B | 23.5B | 28.4B | 38.0B | 45.9B | 49.1B |
| EPS | - | 17 | 18 | 20 | 21 | 14 | 21 | 25 | 34 | 41 | 44 |
| Balance Sheet | |||||||||||
| Total Assets | 282B | 296B | 303B | 336B | 357B | 390B | 483B | 519B | 588B | 618B | 792B |
| Total Liabilities | 202B | 222B | 230B | 254B | 273B | 311B | 388B | 410B | 466B | 473B | 626B |
| Shareholders' Equity | 80.3B | 74.4B | 73.6B | 82.0B | 84.2B | 79.2B | 95.2B | 110B | 122B | 145B | 166B |
| Cash & Short-term Investments | 54.9B | 48.0B | 63.4B | 74.6B | 75.0B | 59.1B | 72.8B | 74.0B | 90.5B | 93.5B | 89.7B |
| Total Debt | 29.9B | 40.0B | 39.9B | 39.7B | 37.6B | 39.7B | - | - | - | - | - |
| Cash Flow | |||||||||||
| Operating Cash Flow | 41.7B | 35.4B | 28.4B | 40.1B | 42.4B | 29.9B | 43.2B | 25.2B | 58.0B | 42.0B | 73.9B |
| Capital Expenditure | 10.4B | 10.8B | 11.8B | 13.0B | 19.4B | 19.7B | 26.3B | 33.7B | 24.8B | 39.2B | 202B |
| Ratios | |||||||||||
| ROE | 23.8% | 25.8% | 27.7% | 28.1% | 27.6% | 20.6% | 24.7% | 25.9% | 31.1% | 31.7% | 29.7% |
| ROA | 6.8% | 6.5% | 6.7% | 6.8% | 6.5% | 4.2% | 4.9% | 5.5% | 6.5% | 7.4% | 6.2% |
| Net Profit Margin | 7.6% | 7.7% | 7.4% | 7.8% | 7.5% | 5.9% | 7.4% | 6.7% | 8.6% | 9.7% | 9.9% |
| Debt to Equity | 0.37x | 0.54x | 0.54x | 0.48x | 0.45x | 0.50x | - | - | - | - | - |
What these items mean
- Revenue
- Total sales of goods and services in the period.
- Operating Income
- Profit from the core business after operating expenses.
- Net Income
- Profit left for shareholders after all expenses, interest and taxes.
- EPS
- Net income divided by shares outstanding.
- Total Assets
- Everything the company owns.
- Total Liabilities
- Everything the company owes.
- Shareholders' Equity
- Assets minus liabilities: the book value that belongs to shareholders.
- Cash & Short-term Investments
- Cash and investments that can be turned into cash quickly.
- Total Debt
- Short and long-term borrowings.
- Operating Cash Flow
- Cash generated by the core business.
- Capital Expenditure
- Cash spent on property, plant and equipment.
- ROE
- Return on equity: net income divided by shareholders' equity.
- ROA
- Return on assets: net income divided by total assets.
- Net Profit Margin
- Net income as a share of revenue.
- Debt to Equity
- Total debt divided by shareholders' equity.
Manila Electric Co dividends
- Dividend yield
- 8.14%
- Forward dividend
- -
- Payout ratio
- 51.9%
- Ex-dividend date
- -
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2024 | PHP 23.8B | 21 | 51.9% |
| 2023 | PHP 21.7B | 19 | 57.0% |
| 2022 | PHP 16.9B | 15 | 59.4% |
| 2021 | PHP 13.7B | 12 | 58.5% |
| 2020 | PHP 16.8B | 15 | 102.9% |
| 2019 | PHP 18.0B | 16 | 77.3% |
| 2018 | PHP 14.6B | 13 | 63.2% |
| 2017 | PHP 19.8B | 18 | 97.3% |
| 2016 | PHP 28.1B | 25 | 146.6% |
From the cash flow statement: dividends paid in the fiscal year, divided by that year's shares outstanding. Payout ratio = dividends paid / net income.
Who owns Manila Electric Co
Ownership data of Manila Electric Co is not available yet.
Manila Electric Co company profile
- Company name
- Manila Electric Co
- Ticker
- MER.PSE
- ISIN
- PHY5764J1483
- Exchange
- Philippine Stock Exchange
- Sector
- Utilities
- Industry
- Commercial Services & Supplies
- Fiscal year end
- December
- Address
- Website
- -