Buy Or Sell Opportunity • May 12
Now 37% overvalued after recent price rise Over the last 90 days, the stock has risen 44% to ₱65.00. The fair value is estimated to be ₱47.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Earnings per share has grown by 11%. Buy Or Sell Opportunity • Apr 24
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to ₱55.00. The fair value is estimated to be ₱44.37, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Earnings per share has grown by 11%. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₱44.95, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total returns to shareholders of 4.7% over the past three years. Board Change • Apr 21
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Irene Joy Besido-Garcia was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₱38.05, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total loss to shareholders of 7.6% over the past three years. Buy Or Sell Opportunity • Feb 13
Now 50% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to ₱64.00. The fair value is estimated to be ₱42.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has grown by 12%. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Chairman & President Sonny Dominguez was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 16
Full year 2025 earnings released: EPS: ₱3.49 (vs ₱3.15 in FY 2024) Full year 2025 results: EPS: ₱3.49 (up from ₱3.15 in FY 2024). Revenue: ₱243.9m (up 8.0% from FY 2024). Net income: ₱122.1m (up 11% from FY 2024). Profit margin: 50% (up from 49% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 15
Dividend increased to ₱2.50 Dividend of ₱2.50 is 25% higher than last year. Ex-date: 8th January 2026 Payment date: 4th February 2026 Dividend yield will be 5.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 35% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.7% EPS decline seen over the last 5 years. Ankündigung • Dec 12
PTFC Redevelopment Corporation announces Annual dividend, payable on February 04, 2026 PTFC Redevelopment Corporation announced Annual dividend of PHP 2.5000 per share payable on February 04, 2026, ex-date on January 08, 2026 and record date on January 09, 2026. Ankündigung • Dec 11
PTFC Redevelopment Corporation, Annual General Meeting, Jan 29, 2026 PTFC Redevelopment Corporation, Annual General Meeting, Jan 29, 2026, at 14:00 W. Australia Standard Time. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₱45.00, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₱55.00, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total returns to shareholders of 42% over the past three years. Buy Or Sell Opportunity • Oct 20
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 43% to ₱64.00. The fair value is estimated to be ₱53.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 15%. Board Change • Jul 22
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Director Irene Joy Besido-Garcia was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 14
Third quarter 2025 earnings released: EPS: ₱0.89 (vs ₱0.79 in 3Q 2024) Third quarter 2025 results: EPS: ₱0.89 (up from ₱0.79 in 3Q 2024). Revenue: ₱61.2m (up 5.2% from 3Q 2024). Net income: ₱31.2m (up 13% from 3Q 2024). Profit margin: 51% (up from 48% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₱44.90, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 6x in the Real Estate industry in Philippines. Total returns to shareholders of 16% over the past three years. Board Change • Jul 03
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Director Irene Joy Besido-Garcia was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Jun 03
Now 35% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to ₱35.60. The fair value is estimated to be ₱54.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 14%. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 42% After last week's 42% share price gain to ₱50.00, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total loss to shareholders of 1.0% over the past three years. Board Change • May 23
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Director Irene Joy Besido-Garcia was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 16
Second quarter 2025 earnings released: EPS: ₱0.83 (vs ₱0.79 in 2Q 2024) Second quarter 2025 results: EPS: ₱0.83 (up from ₱0.79 in 2Q 2024). Revenue: ₱59.9m (up 7.9% from 2Q 2024). Net income: ₱28.8m (up 3.9% from 2Q 2024). Profit margin: 48% (down from 50% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Ankündigung • Apr 14
PTFC Redevelopment Corporation Announces Resignation of Rafael A. Dominguez as Director PTFC Redevelopment Corporation announced resignation of Rafael A. Dominguez as director, Effective Date: April 14, 2025. Board Change • Apr 14
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Irene Joy Besido-Garcia was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₱35.15, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total returns to shareholders of 19% over the past three years. Buy Or Sell Opportunity • Feb 26
Now 24% undervalued Over the last 90 days, the stock has risen 112% to ₱42.90. The fair value is estimated to be ₱56.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has grown by 14%. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₱59.90, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total returns to shareholders of 103% over the past three years. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₱48.00, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total returns to shareholders of 63% over the past three years. Buy Or Sell Opportunity • Jan 10
Now 21% undervalued Over the last 90 days, the stock has risen 138% to ₱50.05. The fair value is estimated to be ₱63.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has grown by 14%. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₱69.50, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total returns to shareholders of 60% over the past three years. Upcoming Dividend • Dec 31
Upcoming dividend of ₱2.00 per share Eligible shareholders must have bought the stock before 06 January 2025. Payment date: 03 February 2025. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Filipino dividend payers (6.8%). Higher than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₱35.00, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total loss to shareholders of 9.2% over the past three years. Reported Earnings • Dec 15
Full year 2024 earnings released: EPS: ₱3.15 (vs ₱2.84 in FY 2023) Full year 2024 results: EPS: ₱3.15 (up from ₱2.84 in FY 2023). Revenue: ₱225.8m (up 8.4% from FY 2023). Net income: ₱110.3m (up 11% from FY 2023). Profit margin: 49% (up from 48% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 14
Dividend of ₱2.00 announced Shareholders will receive a dividend of ₱2.00. Ex-date: 6th January 2025 Payment date: 3rd February 2025 Dividend yield will be 4.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 6.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Ankündigung • Dec 10
PTFC Redevelopment Corporation, Annual General Meeting, Jan 30, 2025 PTFC Redevelopment Corporation, Annual General Meeting, Jan 30, 2025, at 14:00 W. Australia Standard Time. New Risk • Dec 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Filipino stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 3.2% per year over the past 5 years. Minor Risks Revenue is less than US$5m (₱222m revenue, or US$3.8m). Market cap is less than US$100m (₱1.06b market cap, or US$18.1m). Board Change • Dec 02
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Irene Joy Besido-Garcia was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₱21.00, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 6x in the Real Estate industry in Philippines. Total loss to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to ₱25.10, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total loss to shareholders of 35% over the past three years. Reported Earnings • Jul 10
Third quarter 2024 earnings released: EPS: ₱0.79 (vs ₱0.70 in 3Q 2023) Third quarter 2024 results: EPS: ₱0.79 (up from ₱0.70 in 3Q 2023). Revenue: ₱58.2m (up 9.1% from 3Q 2023). Net income: ₱27.7m (up 13% from 3Q 2023). Profit margin: 48% (up from 46% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • May 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Revenue is less than US$5m (₱217m revenue, or US$3.7m). Market cap is less than US$100m (₱1.18b market cap, or US$20.3m). Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to ₱33.60, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 6x in the Real Estate industry in Philippines. Total returns to shareholders of 21% over the past three years. Reported Earnings • Apr 11
Second quarter 2024 earnings released: EPS: ₱0.79 (vs ₱0.47 in 2Q 2023) Second quarter 2024 results: EPS: ₱0.79 (up from ₱0.47 in 2Q 2023). Revenue: ₱55.6m (up 9.9% from 2Q 2023). Net income: ₱27.7m (up 68% from 2Q 2023). Profit margin: 50% (up from 33% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 16% per year. Upcoming Dividend • Jan 01
Upcoming dividend of ₱2.00 per share at 4.1% yield Eligible shareholders must have bought the stock before 08 January 2024. Payment date: 02 February 2024. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Filipino dividend payers (5.9%). Higher than average of industry peers (1.4%). Reported Earnings • Dec 16
Full year 2023 earnings released: EPS: ₱2.84 (vs ₱2.23 in FY 2022) Full year 2023 results: EPS: ₱2.84 (up from ₱2.23 in FY 2022). Revenue: ₱208.2m (up 5.1% from FY 2022). Net income: ₱99.3m (up 28% from FY 2022). Profit margin: 48% (up from 39% in FY 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Ankündigung • Dec 13
PTFC Redevelopment Corporation Approves Cash Dividend, Payable on 02 February 2024 PTFC Redevelopment Corporation approved the cash dividend of PHP 2.00 per share, Record Date Jan 9, 2024 and Payment Date Feb. 2, 2024. Ankündigung • Dec 12
PTFC Redevelopment Corporation, Annual General Meeting, Jan 25, 2024 PTFC Redevelopment Corporation, Annual General Meeting, Jan 25, 2024, at 14:00 Singapore Standard Time. Agenda: To consider Approval of Minutes of the Annual Stockholders' Meeting held on 26 January 2023; to consider President's Report on Operations; to consider Ratification of the Acts of the Board of Directors and Officers for the Fiscal Year 2023; to consider Election of Directors; to consider Appointment of External Auditor for the Fiscal Year 2024; and to consider Other Matters. Reported Earnings • Jul 14
Third quarter 2023 earnings released: EPS: ₱0.70 (vs ₱0.55 in 3Q 2022) Third quarter 2023 results: EPS: ₱0.70 (up from ₱0.55 in 3Q 2022). Revenue: ₱53.3m (up 12% from 3Q 2022). Net income: ₱24.6m (up 28% from 3Q 2022). Profit margin: 46% (up from 40% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₱40.05, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 7x in the Real Estate industry in Philippines. Total loss to shareholders of 1.7% over the past three years. Reported Earnings • Apr 13
Second quarter 2023 earnings released: EPS: ₱0.47 (vs ₱0.59 in 2Q 2022) Second quarter 2023 results: EPS: ₱0.47 (down from ₱0.59 in 2Q 2022). Revenue: ₱50.6m (up 3.2% from 2Q 2022). Net income: ₱16.5m (down 20% from 2Q 2022). Profit margin: 33% (down from 42% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to ₱47.00, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 9x in the Real Estate industry in Philippines. Total returns to shareholders of 5.0% over the past three years. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₱64.00, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 9x in the Real Estate industry in Philippines. Total returns to shareholders of 43% over the past three years. Ankündigung • Jan 28
PTFC Redevelopment Corporation Approves Board Appointments PTFC Redevelopment Corporation announced that at its Annual Meeting of the Stockholders held on 26 January 2023, elected Irene Joy Besido-Garcia, as independent directors of the company for the year 2023 to 2024. The company approved the Designation of Directors Bienvenido A. Tan III, Albert C. Eufemio, Rafael A. Dominguez and Adrian P. Juanengo, and Vice-President Ignacio Luis P. Tan as the members of the Registrant's Executive Committee, with Mr. Bienvenido A. Tan III as the Chairman and Mr. Albert C. Eufemio as the Vice-Chairman thereof. The company approved the designation of Directors Bienvenido A. Tan III, Emmeline S. Huang, and Consuelo N. Padilla as the members of the Registrant's Nomination and Election Committee, with Mr. Bienvenido A. Tan III as the Chairman thereof. The company approved the designation of Directors Alonzo Q. Ancheta, Emmeline S. Huang, and Adrian P. Juanengo as the members of the Registrant's Audit Committee, with Mr. Alonzo Q. Ancheta as the Chairman thereof. Upcoming Dividend • Dec 29
Upcoming dividend of ₱1.50 per share Eligible shareholders must have bought the stock before 05 January 2023. Payment date: 03 February 2023. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Filipino dividend payers (5.6%). Higher than average of industry peers (0.9%). Reported Earnings • Dec 15
Full year 2022 earnings released: EPS: ₱2.23 (vs ₱2.24 in FY 2021) Full year 2022 results: EPS: ₱2.23 (down from ₱2.24 in FY 2021). Revenue: ₱198.1m (up 1.3% from FY 2021). Net income: ₱77.9m (flat on FY 2021). Profit margin: 39% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Ankündigung • Dec 13
PTFC Redevelopment Corporation Approves Cash Dividend, Payable on 03 February 2023 PTFC Redevelopment Corporation announced that at its Special Meeting of the Board of Directors of the company held on 12 December 2022, approved to distribute its unrestricted retained earnings in the aggregate amount of (PHP 52,500,000.00) in the form of cash dividends to its stockholders of record as of 10 January 2023, in proportion to their respective shareholdings, or (PHP 1.50) per share; and (b) setting the distribution of the said cash dividends not later than 03 February 2023. Ankündigung • Dec 12
PTFC Redevelopment Corporation, Annual General Meeting, Jan 26, 2023 PTFC Redevelopment Corporation, Annual General Meeting, Jan 26, 2023, at 14:00 Singapore Standard Time. Agenda: To consider Call to Order; to consider Proof of Notice and Quorum; to consider Reading and Approval of Minutes of the Annual Stockholders' Meeting held on 27 January 2022; to consider President's Report on Operations; to consider Ratification of the Acts of the Board of Directors and Officers for the Fiscal Year 2022; to consider Election of Directors; to consider appointment of External Auditor for the Fiscal Year 2023; and to consider Other Matters Adjournment. Ankündigung • Nov 29
PTFC Redevelopment Corporation Announces Cessation of Leo G. Dominguez as Director PTFC Redevelopment Corporation announced Cessation of Leo G. Dominguez as director. Effective Date is November 26, 2022. 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. 3 experienced directors. 6 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Ariel Arriola was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jul 08
Third quarter 2022 earnings released: EPS: ₱0.55 (vs ₱0.65 in 3Q 2021) Third quarter 2022 results: EPS: ₱0.55 (down from ₱0.65 in 3Q 2021). Revenue: ₱47.9m (down 1.6% from 3Q 2021). Net income: ₱19.2m (down 15% from 3Q 2021). Profit margin: 40% (down from 47% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improved over the past week After last week's 30% share price gain to ₱56.45, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 7x in the Real Estate industry in Philippines. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 32% share price gain to ₱43.50, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 10x in the Real Estate industry in Philippines. Total loss to shareholders of 3.1% over the past three years. 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. 3 experienced directors. 6 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Ariel Arriola was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 10
Second quarter 2022 earnings released: EPS: ₱0.59 (vs ₱0.51 in 2Q 2021) Second quarter 2022 results: EPS: ₱0.59 (up from ₱0.51 in 2Q 2021). Revenue: ₱49.0m (up 1.9% from 2Q 2021). Net income: ₱20.7m (up 15% from 2Q 2021). Profit margin: 42% (up from 37% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 10% per year. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorated over the past week After last week's 30% share price decline to ₱32.95, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 12x in the Real Estate industry in Philippines. Total loss to shareholders of 27% over the past three years. Reported Earnings • Jan 07
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: ₱0.53 (up from ₱0.49 in 1Q 2021). Revenue: ₱51.6m (up 6.0% from 1Q 2021). Net income: ₱18.5m (up 7.7% from 1Q 2021). Profit margin: 36% (in line with 1Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 28
Upcoming dividend of ₱1.50 per share Eligible shareholders must have bought the stock before 04 January 2022. Payment date: 03 February 2022. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Filipino dividend payers (4.1%). Higher than average of industry peers (0.7%). Reported Earnings • Jul 15
Third quarter 2021 earnings released: EPS ₱0.65 (vs ₱0.60 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: ₱48.6m (flat on 3Q 2020). Net income: ₱22.7m (up 8.1% from 3Q 2020). Profit margin: 47% (up from 44% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improved over the past week After last week's 48% share price gain to ₱46.00, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 11x in the Real Estate industry in Philippines. Total returns to shareholders of 76% over the past three years. Reported Earnings • Apr 15
Second quarter 2021 earnings released: EPS ₱0.51 (vs ₱0.74 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₱48.1m (down 7.2% from 2Q 2020). Net income: ₱17.9m (down 31% from 2Q 2020). Profit margin: 37% (down from 50% in 2Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 16% share price gain to ₱52.20, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 11x in the Real Estate industry in Philippines. Total returns to shareholders of 66% over the past three years. Is New 90 Day High Low • Feb 19
New 90-day high: ₱52.60 The company is up 42% from its price of ₱37.00 on 20 November 2020. The Filipino market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 2.0% over the same period. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improved over the past week After last week's 29% share price gain to ₱52.60, the stock is trading at a trailing P/E ratio of 22.3x, up from the previous P/E ratio of 17.3x. This compares to an average P/E of 10x in the Real Estate industry in Philippines. Total returns to shareholders over the past three years are 64%. Reported Earnings • Jan 15
First quarter 2021 earnings released: EPS ₱0.49 The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₱48.7m (down 3.6% from 1Q 2020). Net income: ₱17.2m (down 27% from 1Q 2020). Profit margin: 35% (down from 47% in 1Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 07
First quarter 2021 earnings released: EPS ₱0.49 The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₱48.7m (down 3.6% from 1Q 2020). Net income: ₱17.2m (down 27% from 1Q 2020). Profit margin: 35% (down from 47% in 1Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 04
New 90-day high: ₱47.50 The company is up 18% from its price of ₱40.10 on 07 October 2020. The Filipino market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 31% over the same period. Upcoming Dividend • Dec 29
Upcoming Dividend of ₱1.50 Per Share Will be paid on the 3rd of February to those who are registered shareholders by the 5th of January. The trailing yield of 3.6% is below the top quartile of Filipino dividend payers (4.0%), but it is higher than industry peers (1.1%). Reported Earnings • Dec 16
Full year 2020 earnings released: EPS ₱2.54 The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ₱201.0m (flat on FY 2019). Net income: ₱89.0m (down 28% from FY 2019). Profit margin: 44% (down from 62% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 09
New 90-day high: ₱46.00 The company is up 18% from its price of ₱39.05 on 11 September 2020. The Filipino market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 32% over the same period. Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 24% share price gain to ₱46.00, the stock is trading at a trailing P/E ratio of 12.4x, up from the previous P/E ratio of 10x. This compares to an average P/E of 10x in the Real Estate industry in Philippines. Total returns to shareholders over the past three years are 48%. Is New 90 Day High Low • Nov 19
New 90-day low: ₱37.00 The company is down 5.0% from its price of ₱39.05 on 20 August 2020. The Filipino market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 21% over the same period.