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Filipino (PSEi) Market Analysis & Valuation

UpdatedMay 02, 2026
DataAggregated Company Financials
Companies251
  • 7D-1.0%
  • 3M-7.4%
  • 1Y-11.9%
  • YTD-5.7%

The market has been flat in the last week, however the Energy sector is down 8.8%. Unfortunately though, the market is down 12% over the past year. As for the next few years, earnings are expected to grow by 9.2% per annum.

Trending IndustriesOil and GasRenewable Energy

Market Valuation and Performance

Has the Filipino Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 02 May 2026₱12.6t₱13.5t₱1.4t8.3x8.9x0.9x
Mon, 30 Mar 2026₱12.7t₱13.8t₱1.4t7.8x8.9x0.9x
Wed, 25 Feb 2026₱13.8t₱13.7t₱1.3t8.5x10.2x1x
Fri, 23 Jan 2026₱13.8t₱13.7t₱1.3t9x10.4x1x
Sun, 21 Dec 2025₱13.0t₱13.7t₱1.3t8.5x9.7x1x
Tue, 18 Nov 2025₱12.5t₱13.7t₱1.3t8x9.3x0.9x
Thu, 16 Oct 2025₱12.5t₱13.6t₱1.3t8.4x9.5x0.9x
Sat, 13 Sep 2025₱12.5t₱13.6t₱1.3t8.6x9.5x0.9x
Mon, 11 Aug 2025₱14.3t₱13.6t₱1.3t9.3x11.4x1x
Wed, 09 Jul 2025₱14.4t₱13.6t₱1.2t9.3x11.5x1.1x
Fri, 06 Jun 2025₱14.3t₱13.6t₱1.2t9.1x11.5x1.1x
Sun, 04 May 2025₱14.2t₱13.6t₱1.2t9.2x11.9x1x
Tue, 01 Apr 2025₱13.9t₱13.5t₱1.2t8.9x11.7x1x
Thu, 27 Feb 2025₱13.9t₱13.4t₱1.2t9.5x12x1x
Sat, 25 Jan 2025₱13.9t₱13.4t₱1.1t9.3x12.1x1x
Mon, 23 Dec 2024₱13.9t₱13.5t₱1.1t9.3x12.1x1x
Wed, 20 Nov 2024₱14.4t₱13.5t₱1.2t9.4x12.5x1.1x
Fri, 18 Oct 2024₱15.4t₱13.3t₱1.1t9.7x14x1.2x
Sun, 15 Sep 2024₱14.3t₱13.3t₱1.1t9.1x13x1.1x
Tue, 13 Aug 2024₱13.6t₱13.1t₱1.1t9x12.3x1x
Thu, 11 Jul 2024₱13.2t₱13.0t₱1.1t9.5x11.6x1x
Sat, 08 Jun 2024₱13.2t₱13.0t₱1.1t9.3x11.5x1x
Mon, 06 May 2024₱13.0t₱12.7t₱1.1t10.3x11.6x1x
Wed, 03 Apr 2024₱13.5t₱12.7t₱1.1t10.1x12.2x1.1x
Fri, 01 Mar 2024₱13.5t₱12.7t₱1.1t10.1x12.5x1.1x
Sun, 28 Jan 2024₱13.1t₱12.7t₱1.1t10.1x12.4x1x
Tue, 26 Dec 2023₱12.8t₱12.7t₱1.1t9.9x12.1x1x
Thu, 23 Nov 2023₱12.4t₱12.7t₱1.1t9.8x11.8x1x
Sat, 21 Oct 2023₱12.5t₱12.6t₱1.0t10.5x12.4x1x
Mon, 18 Sep 2023₱12.5t₱12.6t₱1.0t10.2x12.2x1x
Wed, 16 Aug 2023₱12.8t₱12.9t₱1.0t9.8x12.7x1x
Fri, 14 Jul 2023₱13.2t₱12.8t₱971.8b11.1x13.6x1x
Sun, 11 Jun 2023₱13.0t₱12.8t₱972.9b10.7x13.4x1x
Tue, 09 May 2023₱13.2t₱12.4t₱921.6b11.7x14.3x1.1x
Price to Earnings Ratio

14.3x


Total Market Cap: ₱13.2tTotal Earnings: ₱921.6bTotal Revenue: ₱12.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Filipino Market Price to Earnings3Y Average 11.6x202420252026
Current Market PE
  • Investors are pessimistic on the Filipino market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 8.9x which is lower than its 3-year average PE of 11.6x.
Past Earnings Growth
  • The earnings for Filipino listed companies have grown 16% per year over the last three years.
  • Revenues for these companies have grown 3.0% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Filipino Market?

PH Market-0.97%
Tech2.75%
Utilities2.45%
Consumer Staples-0.56%
Consumer Discretionary-0.78%
Materials-0.95%
Telecom-1.18%
Financials-1.38%
Industrials-1.51%
Healthcare-1.80%
Real Estate-2.33%
Energy-8.83%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth even though it's trading below its 3-year average PE ratio of 38.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 19.8% which is higher than its past year's earnings decline of 0.1% per year.
  • The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 10.2x.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 25% over the next 5 years.
  • However this is lower than its past earnings growth rate of 81% per year.
  • In contrast, the Real Estate sector is expected to see its earnings decline by 2.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
MER Manila Electric₱652.001.7%
+₱12.4b		15.4%PE14.4xUtilities
AP Aboitiz Power₱45.503.9%
+₱12.2b		25.9%PE16.9xUtilities
MYNLD Maynilad Water Services₱22.255.2%
+₱8.1b		n/aPE10.6xUtilities
BCOR Berjaya Philippines₱8.0019.4%
+₱5.6b		17.6%PS0.8xConsumer Discretionary
SGP Synergy Grid & Development Phils₱22.803.6%
+₱4.2b		98.3%PE6xUtilities
See more

Market Insights

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We’re starting to see the second-order impact of Strait of Hormuz’s extended closure on other industries and in Q1 2026 reports - and it’s far more than just fuel and gas.
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Latest News

MYNLD
₱22.25
Maynilad Water Services
7D
5.2%
1Y
n/a
SM
₱606.00
SM Investments
7D
-3.7%
1Y
-31.8%
SCC
₱26.00
Semirara Mining and Power
7D
-15.2%
1Y
-22.4%
SMPH
₱19.00
SM Prime Holdings
7D
-4.9%
1Y
-21.5%
CNPF
₱28.50
Century Pacific Food
7D
-9.5%
1Y
-24.9%
AP
₱45.50
Aboitiz Power
7D
3.9%
1Y
25.9%

AP: Dividend Moves And Governance Reforms Will Support Future Earnings Quality

Analysts now place Aboitiz Power's fair value at ₱51.11, compared with the earlier ₱49.91. They cite updated assumptions on revenue growth, margins and a lower future P/E multiple as key drivers of the revised price target.
CBC
₱60.10
China Banking
7D
-6.0%
1Y
-33.1%
BPI
₱89.50
Bank of the Philippine Islands
7D
-2.8%
1Y
-37.2%
MER
₱652.00
Manila Electric
7D
1.7%
1Y
15.4%

MER: Future Returns Will Rely On Dividends And Grid Digitalization Collaboration

Analysts have increased their fair value estimate for Manila Electric slightly, from ₱636.41 to ₱637.05. This reflects updated assumptions that include modestly lower revenue growth, a small uplift in profit margin and a largely unchanged forward P/E multiple.
AEV
₱29.10
Aboitiz Equity Ventures
7D
2.5%
1Y
-12.5%
UBP
₱26.05
Union Bank of the Philippines
7D
5.0%
1Y
-19.5%

UBP: Governance Reforms Will Support Future Upside Potential

Analysts have trimmed their price target for Union Bank of the Philippines from about ₱38.10 to around ₱35.89, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margins, and future P/E. What's in the News The Board approved amendments to Articles V, VII, VIII, and X of the By Laws on March 27, 2026, aiming to refine officer roles, clarify enterprise level judgment and fiduciary responsibilities, and correct clerical issues.
SPNEC
₱1.60
SP New Energy
7D
5.3%
1Y
26.0%
SGP
₱22.80
Synergy Grid & Development Phils
7D
3.6%
1Y
98.3%
ALI
₱15.10
Ayala Land
7D
-4.4%
1Y
-38.9%

ALI: Debt Funding And 2026 Dividends Will Support Future Upside

Analysts have trimmed their fair value estimate for Ayala Land from ₱32.05 to approximately ₱31.50. This reflects updated assumptions that incorporate a slightly higher discount rate, reduced revenue growth expectations, a modestly lower profit margin, and a marginally higher future P/E multiple.
AC
₱467.60
Ayala
7D
-4.6%
1Y
-23.8%
BCOR
₱8.00
Berjaya Philippines
7D
19.4%
1Y
17.6%