Ankündigung • Jun 12
Gma Network, Inc. Announces Board Changes GMA Network, Inc. had nominated former Chief Justice Reynato S. Puno and former Deutsche Bank Philippines Chief Country Officer Enrico S. Cruz as independent directors, replacing independent directors Artemio V. Panganiban and Jaime C. Laya, who had served on the board for nearly two decades. The board changes came after GMA Network, Inc. withdrew its lawsuit questioning a Securities and Exchange Commission regulation that limits the tenure of independent directors of publicly listed companies to nine years. Mr. Panganiban, a former chief justice, and Mr. Laya, a former central bank governor and Finance secretary, had served as independent directors of GMA Network, Inc. for almost 20 years. The nominations will be subject to shareholder approval. New Risk • May 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.9% Last year net profit margin: 9.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 32% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (164% payout ratio). Profit margins are more than 30% lower than last year (4.9% net profit margin). Reported Earnings • Apr 16
Full year 2025 earnings released: EPS: ₱0.45 (vs ₱0.42 in FY 2024) Full year 2025 results: EPS: ₱0.45 (up from ₱0.42 in FY 2024). Revenue: ₱18.1b (up 3.1% from FY 2024). Net income: ₱2.20b (up 54% from FY 2024). Profit margin: 12% (up from 8.1% in FY 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 17% per year. Upcoming Dividend • Apr 10
Upcoming dividend of ₱0.40 per share Eligible shareholders must have bought the stock before 17 April 2026. Payment date: 15 May 2026. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 8.4%. Within top quartile of Filipino dividend payers (6.6%). Higher than average of industry peers (2.2%). Declared Dividend • Mar 27
Dividend reduced to ₱0.40 Dividend of ₱0.40 is 20% lower than last year. Ex-date: 17th April 2026 Payment date: 15th May 2026 Dividend yield will be 6.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 1.1% to shift the payout ratio to a potentially unsustainable range, which is less than the 8.8% EPS decline seen over the last 5 years. Ankündigung • Mar 27
GMA Network, Inc., Annual General Meeting, Dec 09, 2026 GMA Network, Inc., Annual General Meeting, Dec 09, 2026, at 10:00 W. Australia Standard Time. Location: applicaiton, Philippines Ankündigung • Mar 26
GMA Network, Inc. announces Annual dividend, payable on May 15, 2026 GMA Network, Inc. announced Annual dividend of PHP 0.4000 per share payable on May 15, 2026, ex-date on April 17, 2026 and record date on April 20, 2026. Ankündigung • Jan 22
GMA Network, Inc., Annual General Meeting, May 20, 2026 GMA Network, Inc., Annual General Meeting, May 20, 2026, at 10:00 W. Australia Standard Time. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ₱0.021 (vs ₱0.17 in 3Q 2024) Third quarter 2025 results: EPS: ₱0.021 (down from ₱0.17 in 3Q 2024). Revenue: ₱3.89b (down 17% from 3Q 2024). Net income: ₱102.7m (down 82% from 3Q 2024). Profit margin: 2.6% (down from 12% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ₱0.24 (vs ₱0.083 in 2Q 2024) Second quarter 2025 results: EPS: ₱0.24 (up from ₱0.083 in 2Q 2024). Revenue: ₱5.41b (up 31% from 2Q 2024). Net income: ₱1.17b (up 320% from 2Q 2024). Profit margin: 22% (up from 6.8% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. New Risk • Jun 18
New major risk - Revenue and earnings growth Earnings have declined by 16% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 16% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (91% payout ratio). Ankündigung • May 21
GMA Network, Inc. Elects Maria Theresa E. De Mesa as Assistant Corporate Secretary GMA Network, Inc. at the Organizational Meeting of the Board held on May 21, 2025, approved to elect Maria Theresa E. De Mesa as Assistant Corporate Secretary for the ensuing year. Upcoming Dividend • Apr 21
Upcoming dividend of ₱0.50 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 20 May 2025. The company is paying out more than 100% of its profits and is paying out 90% of its cash flow. Trailing yield: 7.9%. Within top quartile of Filipino dividend payers (6.7%). Higher than average of industry peers (2.2%). New Risk • Apr 18
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.1% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (118% payout ratio). Profit margins are more than 30% lower than last year (8.1% net profit margin). Significant insider selling over the past 3 months (₱3.0m sold). Reported Earnings • Apr 16
Full year 2024 earnings released: EPS: ₱0.42 (vs ₱0.65 in FY 2023) Full year 2024 results: EPS: ₱0.42 (down from ₱0.65 in FY 2023). Revenue: ₱17.6b (down 5.8% from FY 2023). Net income: ₱2.07b (down 5.6% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Media industry in Asia. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 02
Dividend reduced to ₱0.50 Dividend of ₱0.50 is 17% lower than last year. Ex-date: 28th April 2025 Payment date: 20th May 2025 Dividend yield will be 8.2%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (138% earnings payout ratio) nor is it covered by cash flows (334% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 54% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Ankündigung • Mar 31
GMA Network, Inc. Declares Cash Dividend for the Year Ended December 31, 2024, Payable on May 20, 2025 GMA Network, Inc. in its Special Meeting of the Board of Directors declared Cash Dividends equivalent to PHP 0.50 per common share from the retained earnings of the Company as of December 31, 2024. Record Date: April 29, 2025. Payment Date: May 20, 2025. Recent Insider Transactions • Feb 18
Independent Director recently sold ₱3.0m worth of stock On the 13th of February, Artemio Panganiban sold around 497k shares on-market at roughly ₱6.07 per share. This transaction amounted to 60% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₱6.9m more than they bought in the last 12 months. Ankündigung • Feb 12
Gma Network, Inc. Announces Retirement of Ms. Lilybeth G. Rasonable as SVP - Entertainment Group, Effective March 01, 2025 GMA Network, Inc. announced retirement of Ms. Lilybeth G. Rasonable as SVP - Entertainment Group. The effective date of retirement is March 01, 2025. New Risk • Jan 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 123% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 138% Dividend per share is over 7x cash flows per share. Shareholders have been substantially diluted in the past year (123% increase in shares outstanding). Ankündigung • Jan 23
GMA Network, Inc., Annual General Meeting, May 21, 2025 GMA Network, Inc., Annual General Meeting, May 21, 2025, at 10:00 W. Australia Standard Time. Ankündigung • Jan 13
GMA Network, Inc. Promotes Iaessa Valdellon to Senior Vice President for Public Affairs, Effective January 15, 2025 GMA Network, Inc. promoted Iaessa Valdellon from FVP - Public Affairs to Senior Vice President for Public Affairs, effective January 15, 2025. Valdellon's leadership was instrumental in shaping GMA Public Affairs into a creative content powerhouse. Diversifying from documentaries and news magazine programs, GMA Public Affairs has also brought audiences soaps, romantic comedies, historical dramas, and even drama anthologies. These include the multi-awarded programs "Kapuso Mo, Jessica Soho," "I-Witness," "The Atom Araullo Specials," "Reporter's Notebook," "Lolong," and "Black Rider." Valdellon is also credited with creating the full programming grid for GMA News TV, which launched in 2011. While running the channel, she also co-wrote and produced the award-winning social realist series Bayan Ko and Titser. Valdellon is also the concurrent Executive Vice President for GMA Pictures, the Network's film-producing arm. Most recently, GMA Pictures achieved back-to-back wins at the Metro Manila Film Festival, with "Green Bones" winning Best Picture in 2024 and "Firefly" in 2023. Under Valdellon's helm, GMA Pictures has also collaborated with GMA Public Affairs for its first-ever investigative documentary film, "Lost Sabungeros." Released in 2024, the highly controversial film delves into the disappearance of over 30 cockfighters. A Kapuso for more than 20 years now, she started her work in GMA as Program Manager and pioneered in reality production with programs such as `Wish Ko Lang,' `Extra Challenge,' `Imbestigador,' and `Survivor Philippines' - bringing these to the top of Philippine television ratings. She has served as a New York Festivals grand jury member for six years and running. Valdellon has also been a juror for the Asian Academy Creative Awards since 2018. Valdellon is a graduate of Ateneo de Manila University, earning a bachelor's degree in Interdisciplinary Studies focusing on History and Communications. New Risk • Nov 17
New major risk - Revenue and earnings growth Earnings have declined by 4.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 143% Cash payout ratio: 334% Earnings have declined by 4.3% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (₱3.9m sold). Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: ₱0.17 (vs ₱0.26 in 3Q 2023) Third quarter 2024 results: EPS: ₱0.17 (down from ₱0.26 in 3Q 2023). Revenue: ₱4.69b (down 12% from 3Q 2023). Net income: ₱802.4m (down 9.7% from 3Q 2023). Profit margin: 17% (in line with 3Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Media industry in Asia. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Oct 15
Independent Director recently sold ₱352k worth of stock On the 7th of October, Artemio Panganiban sold around 50k shares on-market at roughly ₱7.04 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₱2.1m. Insiders have been net sellers, collectively disposing of ₱3.9m more than they bought in the last 12 months. Recent Insider Transactions • Oct 05
Independent Director recently sold ₱1.4m worth of stock On the 2nd of October, Artemio Panganiban sold around 200k shares on-market at roughly ₱6.99 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ₱0.082 (vs ₱0.12 in 2Q 2023) Second quarter 2024 results: EPS: ₱0.082 (down from ₱0.12 in 2Q 2023). Revenue: ₱4.12b (down 7.3% from 2Q 2023). Net income: ₱400.5m (flat on 2Q 2023). Profit margin: 9.7% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 17
First quarter 2024 earnings released: EPS: ₱0.042 (vs ₱0.12 in 1Q 2023) First quarter 2024 results: EPS: ₱0.042 (down from ₱0.12 in 1Q 2023). Revenue: ₱3.66b (down 8.9% from 1Q 2023). Net income: ₱204.1m (down 51% from 1Q 2023). Profit margin: 5.6% (down from 10% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Declared Dividend • Apr 05
Dividend of ₱0.60 announced Shareholders will receive a dividend of ₱0.60. Ex-date: 23rd April 2024 Payment date: 14th May 2024 Dividend yield will be 6.8%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (190% earnings payout ratio) nor is it covered by cash flows (104% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 111% to bring the payout ratio under control, which is more than the 2.3% EPS growth achieved over the last 5 years. Buy Or Sell Opportunity • Apr 03
Now 20% undervalued Over the last 90 days, the stock has risen 1.5% to ₱9.00. The fair value is estimated to be ₱11.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 18%. Ankündigung • Jan 25
GMA Network, Inc., Annual General Meeting, May 15, 2024 GMA Network, Inc., Annual General Meeting, May 15, 2024, at 10:00 Singapore Standard Time. Buying Opportunity • Nov 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be ₱10.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 18%. New Risk • Nov 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 20% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 190% Cash payout ratio: 104% Minor Risk Profit margins are more than 30% lower than last year (11% net profit margin). Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: ₱0.26 (vs ₱0.23 in 3Q 2022) Third quarter 2023 results: EPS: ₱0.26 (up from ₱0.23 in 3Q 2022). Revenue: ₱5.31b (up 10% from 3Q 2022). Net income: ₱1.28b (up 70% from 3Q 2022). Profit margin: 24% (up from 16% in 3Q 2022). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: ₱0.12 (vs ₱0.39 in 2Q 2022) Second quarter 2023 results: EPS: ₱0.12 (down from ₱0.39 in 2Q 2022). Revenue: ₱4.44b (down 27% from 2Q 2022). Net income: ₱581.5m (down 55% from 2Q 2022). Profit margin: 13% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Ankündigung • Jun 02
GMA Network, Inc. Promotes Oliver Victor B. Amoroso to Senior Vice President GMA Network, Inc. announced the Promotion of Oliver Victor B. Amoroso as its new Senior Vice President effective June 1,2023 this year. Amoroso led the successful integration of GMA News Manila, GMA Regional TV, GMA News Online and Super Radyo DZBB into GMA Integrated News, solidifying its position as the Philippines' top multimedia news source and the "News Authority of the Filipino," living up to its commitment to bring top-notch reportage across all platforms - from exposés such as the alleged killing of high-profile inmates at the Bilibid to special reports such as the series "Banta ng Nagbabagong Klima" (The Climate Change Threat Series). With weather news being an integral part of daily lives, this 2023, GMA Integrated News also leveled- up its Weather Center, equipped with the latest technology, a new look and an expanded roster of forecasters. As the News Chief, Amoroso grew Regional TV news operations from three newscasts in 2016 to eleven newscasts in 2022, four of which were launched at the height of the coronavirus pandemic. Heeding the clamor from viewers in urban and rural areas, RTV launched the #LocalNewsMatters campaign which gives importance to community news. Amoroso also oversees the Network's regional operations, content and production, and business development, which include 12 TV stations strategically located across the Philippines and handles the Network's various initiatives and partnerships including sports production. With Amoroso at the helm, GMA Integrated News, Regional TV, and Synergy recently won local and international awards including the New York Festivals TV and Film Awards Silver World Medal for `Limitless,' two Excellence honors at the Philippine Quill Awards for the `GMA Masterclass Series' and 'Kapuso Barangayan on Wheels' initiatives, PMPC Star Awards for TV Best News Program for `24 Oras,' and received the 'Best Regional TV Network' at the Platinum Stallion National Media Awards, among others. A loyal Kapuso for 16 years, Amoroso graduated with distinction from Silliman University's College of Mass Communication. Buying Opportunity • Apr 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be ₱12.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 27%. Reported Earnings • Apr 19
Full year 2022 earnings released: EPS: ₱1.12 (vs ₱1.55 in FY 2021) Full year 2022 results: EPS: ₱1.12. Revenue: ₱21.6b (down 3.9% from FY 2021). Net income: ₱5.44b (up 4.5% from FY 2021). Profit margin: 25% (up from 23% in FY 2021). The increase in margin was driven by lower expenses. Upcoming Dividend • Apr 14
Upcoming dividend of NT$1.10 per share at 12% yield Eligible shareholders must have bought the stock before 21 April 2023. Payment date: 16 May 2023. The company is paying out more than 100% of its profits and is paying out 92% of its cash flow. Trailing yield: 12%. Within top quartile of Filipino dividend payers (5.5%). Higher than average of industry peers (2.3%). Ankündigung • Jan 26
GMA Network, Inc., Annual General Meeting, May 17, 2023 GMA Network, Inc., Annual General Meeting, May 17, 2023, at 10:00 Singapore Standard Time. Agenda: To consider Resignation of Atty. Anna Teresa M. Gozon-Valdes from the Audit and Risk Management Committee and appointment of Joel Marcelo G. Jimenez as member of the Audit and Risk Management Committee to serve the remainder of Atty. Gozon-Valdes' term. Recent Insider Transactions • Nov 23
Independent Director recently sold ₱10m worth of stock On the 17th of November, Artemio Panganiban sold around 1m shares on-market at roughly ₱10.20 per share. This transaction amounted to 55% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: ₱0.23 (vs ₱0.48 in 3Q 2021) Third quarter 2022 results: EPS: ₱0.23 (down from ₱0.48 in 3Q 2021). Revenue: ₱4.81b (down 19% from 3Q 2021). Net income: ₱757.4m (down 53% from 3Q 2021). Profit margin: 16% (down from 27% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 8 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Jaime Laya was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Ankündigung • Aug 22
GMA Network, Inc. Appoints Anna Teresa M. Gozon-Valdes as Senior Vice President Effective Sep. 1, 2022 GMA Network, Inc. appointed Anna Teresa M. Gozon-Valdes as Senior Vice President effective Sep. 1, 2022. Atty. Gozon-Valdes has been a director of GMA since 2000 and was part of the team that led GMA's phenomenal rise to the top. She serves in numerous leadership roles across the Network. Among these was setting up GMA New Media, the Network's digital media and technology arm and future-proofing agent. As President of GMA Worldwide, she led the team that distributed GMA's shows to territories in Asia, North America, Middle East, and Africa. Atty. Gozon-Valdes was also instrumental in pushing for new partnerships with new global platforms and in bringing some of the best foreign shows to the Filipinos such as Full House, Stairway to Heaven and Jewel in the Palace. Currently, she is the Programming Consultant to the Chairman/CEO of GMA Network, where she works with the Drama group and drives synergy across departments. She was one of the brains behind the iconic series Encantadia and Mulawin. She was one of the first to push for local adaptations of iconic foreign materials such as Marimar, Stairway to Heaven, Endless Love and other Korean dramas, as well as the upcoming live action drama Voltes V Legacy. She was recently appointed as Consultant of Sparkle, GMA's talent management arm and serves as President of GMA Films, Inc. where she led the production of several blockbuster movies such as Let the Love Begin, Lovestruck and Moments of Love. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ₱0.39 (vs ₱0.34 in 2Q 2021) Second quarter 2022 results: EPS: ₱0.39 (up from ₱0.34 in 2Q 2021). Revenue: ₱6.08b (up 19% from 2Q 2021). Net income: ₱1.30b (up 15% from 2Q 2021). Profit margin: 21% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Ankündigung • Jul 05
GMA Network, Inc. Announces Retirement of Marissa L. Flores as Senior Vice President News and Public Affairs GMA Network, Inc. announced retirement of Marissa L. Flores as Senior Vice President News and Public Affairs. Effective Date of Resignation is July 1, 2022. Ms. Flores has been engaged as a Consultant for the Company. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 19% share price gain to ₱11.66, the stock trades at a trailing P/E ratio of 7.4x. Average forward P/E is 14x in the Media industry in Asia. Total returns to shareholders of 199% over the past three years. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: ₱0.44 (vs ₱0.41 in 1Q 2021) First quarter 2022 results: EPS: ₱0.44 (up from ₱0.41 in 1Q 2021). Revenue: ₱5.86b (up 7.4% from 1Q 2021). Net income: ₱2.12b (up 54% from 1Q 2021). Profit margin: 36% (up from 25% in 1Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to ₱16.80 Up from ₱10.90, the current price target is provided by 1 analyst. New target price is 28% above last closing price of ₱13.16. Stock is up 69% over the past year. The company posted earnings per share of ₱1.55 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 8 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Jaime Laya was the last independent director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 13
Upcoming dividend of ₱1.45 per share Eligible shareholders must have bought the stock before 20 April 2022. Payment date: 17 May 2022. Payout ratio and cash payout ratio are on the higher end at 81% and 79% respectively. Trailing yield: 9.2%. Within top quartile of Filipino dividend payers (4.4%). Higher than average of industry peers (2.4%). Reported Earnings • Apr 12
Full year 2021 earnings released: EPS: ₱1.55 (vs ₱1.23 in FY 2020) Full year 2021 results: EPS: ₱1.55 (up from ₱1.23 in FY 2020). Revenue: ₱22.5b (up 16% from FY 2020). Net income: ₱7.53b (up 82% from FY 2020). Profit margin: 34% (up from 21% in FY 2020). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 10%, compared to a 11% growth forecast for the industry in Philippines. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Ankündigung • Jan 28
GMA Network, Inc., Annual General Meeting, May 18, 2022 GMA Network, Inc., Annual General Meeting, May 18, 2022, at 10:00 Singapore Standard Time. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS ₱0.48 (vs ₱0.51 in 3Q 2020) The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: ₱5.96b (flat on 3Q 2020). Net income: ₱2.34b (up 36% from 3Q 2020). Profit margin: 39% (up from 29% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Executive Departure • Sep 28
Compliance Officer & Corporate Secretary Roberto Rafael Lucila has left the company On the 18th of September, Roberto Rafael Lucila's tenure as Compliance Officer & Corporate Secretary ended. As of June 2021, Roberto Rafael still personally held only 19.00k shares (₱274k worth at the time). Roberto Rafael is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 9.67 years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improved over the past week After last week's 16% share price gain to ₱15.60, the stock trades at a trailing P/E ratio of 9.2x. Average forward P/E is 16x in the Media industry in Asia. Total returns to shareholders of 294% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ₱0.34 (vs ₱0.17 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₱5.14b (up 60% from 2Q 2020). Net income: ₱1.64b (up 187% from 2Q 2020). Profit margin: 32% (up from 18% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 17% share price gain to ₱13.66, the stock trades at a trailing P/E ratio of 9x. Average forward P/E is 16x in the Media industry in Asia. Total returns to shareholders of 242% over the past three years. Recent Insider Transactions • Jul 30
Insider recently sold ₱107k worth of stock On the 21st of July, Roberto Rafael Lucila sold around 9k shares on-market at roughly ₱11.88 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₱1.3m more than they sold in the last 12 months. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improved over the past week After last week's 17% share price gain to ₱10.64, the stock trades at a trailing P/E ratio of 7x. Average forward P/E is 17x in the Media industry in Asia. Total returns to shareholders of 156% over the past three years. Recent Insider Transactions • Jun 03
Independent Director recently bought ₱445k worth of stock On the 28th of May, Jaime Laya bought around 50k shares on-market at roughly ₱8.90 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱1.4m more in shares than they have sold in the last 12 months. Reported Earnings • May 18
First quarter 2021 earnings released: EPS ₱0.41 (vs ₱0.12 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₱5.46b (up 55% from 1Q 2020). Net income: ₱2.00b (up 403% from 1Q 2020). Profit margin: 37% (up from 11% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 16
Full year 2020 earnings released: EPS ₱1.23 (vs ₱0.54 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₱19.3b (up 17% from FY 2019). Net income: ₱5.98b (up 231% from FY 2019). Profit margin: 31% (up from 11% in FY 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 12
Upcoming dividend of ₱1.35 per share Eligible shareholders must have bought the stock before 19 April 2021. Payment date: 18 May 2021. Trailing yield: 15%. Within top quartile of Filipino dividend payers (4.1%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 22% share price gain to ₱8.95, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 22x in the Media industry in Asia. Total returns to shareholders of 75% over the past three years. Is New 90 Day High Low • Feb 20
New 90-day high: ₱7.19 The company is up 26% from its price of ₱5.70 on 20 November 2020. The Filipino market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 13% over the same period. Is New 90 Day High Low • Feb 04
New 90-day high: ₱6.30 The company is up 24% from its price of ₱5.08 on 06 November 2020. The Filipino market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 16% over the same period. Ankündigung • Jan 29
GMA Network, Inc., Annual General Meeting, May 19, 2021 GMA Network, Inc., Annual General Meeting, May 19, 2021, at 10:00 Singapore Standard Time. Is New 90 Day High Low • Jan 14
New 90-day high: ₱6.10 The company is up 18% from its price of ₱5.17 on 16 October 2020. The Filipino market is up 22% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Media industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 05
New 90-day high: ₱5.91 The company is up 17% from its price of ₱5.05 on 04 September 2020. The Filipino market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 31% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: ₱5.45 The company is up 7.0% from its price of ₱5.08 on 20 August 2020. The Filipino market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 13% over the same period. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS ₱0.17 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₱5.91b (up 37% from 3Q 2019). Net income: ₱2.49b (up 200% from 3Q 2019). Profit margin: 42% (up from 19% in 3Q 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.