Narrative Update • Jun 24
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Filipino (PSEi) Market Analysis & Valuation
UpdatedJun 26, 2026
DataAggregated Company Financials
Companies252
- 7D-1.9%
- 3M-0.3%
- 1Y-4.2%
- YTD-5.4%
In the last week, the market has fallen 1.9%, dragged down most by the Utilities. In the last 12 months the market is down 4.2%. Looking forward, earnings are forecast to grow by 9.0% annually.
Market Valuation and Performance
Has the Filipino Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 26 Jun 2026 | ₱12.7t | ₱13.9t | ₱1.4t | 7.8x | 8.9x | 0.9x |
| Sun, 24 May 2026 | ₱12.8t | ₱13.9t | ₱1.4t | 7.9x | 9x | 0.9x |
| Tue, 21 Apr 2026 | ₱12.9t | ₱13.6t | ₱1.4t | 7.9x | 8.9x | 0.9x |
| Thu, 19 Mar 2026 | ₱12.8t | ₱13.8t | ₱1.4t | 8.2x | 9.2x | 0.9x |
| Sat, 14 Feb 2026 | ₱13.6t | ₱13.6t | ₱1.3t | 8.7x | 10.2x | 1x |
| Mon, 12 Jan 2026 | ₱13.8t | ₱13.7t | ₱1.3t | 8.8x | 10.3x | 1x |
| Wed, 10 Dec 2025 | ₱13.2t | ₱13.7t | ₱1.3t | 8.2x | 9.9x | 1x |
| Fri, 07 Nov 2025 | ₱12.1t | ₱13.6t | ₱1.3t | 8.2x | 9.1x | 0.9x |
| Sun, 05 Oct 2025 | ₱12.5t | ₱13.6t | ₱1.3t | 8.6x | 9.5x | 0.9x |
| Tue, 02 Sep 2025 | ₱12.5t | ₱13.6t | ₱1.3t | 8.3x | 9.5x | 0.9x |
| Thu, 31 Jul 2025 | ₱14.3t | ₱13.6t | ₱1.3t | 9.3x | 11.4x | 1x |
| Sat, 28 Jun 2025 | ₱14.4t | ₱13.6t | ₱1.2t | 9.2x | 11.5x | 1.1x |
| Mon, 26 May 2025 | ₱14.2t | ₱13.6t | ₱1.3t | 8.9x | 11.3x | 1x |
| Wed, 23 Apr 2025 | ₱13.9t | ₱13.6t | ₱1.2t | 9.3x | 11.9x | 1x |
| Fri, 21 Mar 2025 | ₱14.2t | ₱13.5t | ₱1.2t | 8.9x | 11.9x | 1.1x |
| Sun, 16 Feb 2025 | ₱13.7t | ₱13.4t | ₱1.1t | 9.4x | 12x | 1x |
| Tue, 14 Jan 2025 | ₱14.0t | ₱13.4t | ₱1.1t | 9.3x | 12.2x | 1x |
| Thu, 12 Dec 2024 | ₱14.3t | ₱13.5t | ₱1.1t | 9.4x | 12.4x | 1.1x |
| Sat, 09 Nov 2024 | ₱14.7t | ₱13.3t | ₱1.1t | 9.2x | 13.2x | 1.1x |
| Mon, 07 Oct 2024 | ₱15.3t | ₱13.3t | ₱1.1t | 9.4x | 13.9x | 1.2x |
| Wed, 04 Sep 2024 | ₱14.1t | ₱13.3t | ₱1.1t | 8.9x | 12.3x | 1.1x |
| Fri, 02 Aug 2024 | ₱13.7t | ₱13.1t | ₱1.1t | 9.1x | 12.4x | 1x |
| Sun, 30 Jun 2024 | ₱13.2t | ₱13.0t | ₱1.1t | 9.1x | 11.5x | 1x |
| Tue, 28 May 2024 | ₱13.2t | ₱13.0t | ₱1.1t | 9.5x | 11.5x | 1x |
| Thu, 25 Apr 2024 | ₱12.9t | ₱12.7t | ₱1.1t | 9.6x | 11.5x | 1x |
| Sat, 23 Mar 2024 | ₱13.4t | ₱12.7t | ₱1.1t | 10x | 12.1x | 1.1x |
| Mon, 19 Feb 2024 | ₱13.4t | ₱12.6t | ₱1.1t | 10x | 12.7x | 1.1x |
| Wed, 17 Jan 2024 | ₱13.1t | ₱12.7t | ₱1.1t | 10.3x | 12.4x | 1x |
| Fri, 15 Dec 2023 | ₱12.7t | ₱12.7t | ₱1.1t | 9.8x | 12x | 1x |
| Sun, 12 Nov 2023 | ₱12.4t | ₱12.6t | ₱1.0t | 10x | 12.1x | 1x |
| Tue, 10 Oct 2023 | ₱12.7t | ₱12.7t | ₱1.0t | 10.8x | 12.5x | 1x |
| Thu, 07 Sep 2023 | ₱12.7t | ₱12.7t | ₱1.0t | 10.6x | 12.4x | 1x |
| Sat, 05 Aug 2023 | ₱13.2t | ₱12.8t | ₱988.8b | 10.8x | 13.3x | 1x |
| Mon, 03 Jul 2023 | ₱13.0t | ₱12.8t | ₱972.6b | 10.5x | 13.4x | 1x |
Price to Earnings Ratio
13.4x
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 11.4x.
Past Earnings Growth
- The earnings for Filipino listed companies have grown 14% per year over the last three years.
- Revenues for these companies have grown 2.9% 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 | -1.88% | |
| Tech | 10.05% | |
| Healthcare | 2.65% | |
| Telecom | 1.47% | |
| Consumer Discretionary | 1.10% | |
| Consumer Staples | 0.91% | |
| Real Estate | -0.20% | |
| Industrials | -1.71% | |
| Financials | -3.31% | |
| Utilities | -3.83% | |
| Energy | -5.67% | |
| Materials | -9.86% | |
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 37.6x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 21.8% which is higher than its past year's earnings decline of 2.3% per year.
- The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 9.8x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 22% over the next 5 years.
- This is better than its past earnings decline of 2.3% per year.
- In contrast, the Real Estate sector is expected to see its earnings decline by 3.7% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| AC Ayala | ₱422.20 | 5.6% +₱13.9b | -25.3% | PE4.5x | Industrials | |
| ALI Ayala Land | ₱15.30 | 5.8% +₱12.0b | -40.7% | PE5.8x | Real Estate | |
| GTCAP GT Capital Holdings | ₱499.60 | 11.0% +₱10.7b | -13.9% | PE3.3x | Industrials | |
| AEV Aboitiz Equity Ventures | ₱33.70 | 5.3% +₱9.4b | -3.7% | PE8.7x | Utilities | |
| SMPH SM Prime Holdings | ₱18.52 | 1.6% +₱8.6b | -19.7% | PE10.9x | Real Estate |
