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Filipino (PSEi) Market Analysis & Valuation

UpdatedJan 01, 2026
DataAggregated Company Financials
Companies253
  • 7D0.7%
  • 3M0.9%
  • 1Y-7.4%
  • YTD-7.3%

Over the last 7 days, the market has remained flat, although notably the Healthcare sector declined by 4.9%. The past year hasn't been profitable, with the market dropping 7.4%. As for the next few years, earnings are expected to grow by 11% 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
Thu, 01 Jan 2026₱13.3t₱13.7t₱1.3t8.7x10x1x
Sat, 29 Nov 2025₱13.6t₱13.7t₱1.3t8.5x10.3x1x
Mon, 27 Oct 2025₱12.3t₱13.6t₱1.3t8.3x9.3x0.9x
Wed, 24 Sep 2025₱12.5t₱13.6t₱1.3t8.6x9.6x0.9x
Fri, 22 Aug 2025₱12.7t₱13.6t₱1.3t8.7x9.7x0.9x
Sun, 20 Jul 2025₱14.2t₱13.6t₱1.2t9.1x11.3x1x
Tue, 17 Jun 2025₱14.3t₱13.6t₱1.2t9x11.4x1x
Thu, 15 May 2025₱14.4t₱13.7t₱1.2t9.1x12.1x1.1x
Sat, 12 Apr 2025₱13.7t₱13.5t₱1.2t9.1x11.6x1x
Mon, 10 Mar 2025₱14.1t₱13.5t₱1.2t9.3x11.9x1x
Wed, 05 Feb 2025₱13.7t₱13.4t₱1.1t9.6x11.9x1x
Fri, 03 Jan 2025₱14.2t₱13.4t₱1.1t9.3x12.4x1.1x
Sun, 01 Dec 2024₱14.2t₱13.5t₱1.1t9.3x12.3x1.1x
Tue, 29 Oct 2024₱15.3t₱13.3t₱1.1t9.6x13.9x1.2x
Thu, 26 Sep 2024₱14.9t₱13.3t₱1.1t9.1x13.5x1.1x
Sat, 24 Aug 2024₱14.1t₱13.3t₱1.1t8.7x12.3x1.1x
Mon, 22 Jul 2024₱13.7t₱13.0t₱1.1t9.5x12x1.1x
Wed, 19 Jun 2024₱13.0t₱13.0t₱1.1t9.2x11.3x1x
Fri, 17 May 2024₱13.2t₱12.9t₱1.2t9.5x11.4x1x
Sun, 14 Apr 2024₱13.1t₱12.7t₱1.1t10.2x11.7x1x
Tue, 12 Mar 2024₱13.3t₱12.7t₱1.1t10.4x12.3x1.1x
Thu, 08 Feb 2024₱13.3t₱12.6t₱1.1t9.9x12.6x1.1x
Sat, 06 Jan 2024₱13.1t₱12.7t₱1.1t10.2x12.4x1x
Mon, 04 Dec 2023₱12.4t₱12.7t₱1.1t9.8x11.7x1x
Wed, 01 Nov 2023₱12.1t₱12.6t₱1.0t10.2x11.9x1x
Fri, 29 Sep 2023₱12.9t₱12.7t₱1.0t10.6x12.6x1x
Sun, 27 Aug 2023₱12.5t₱12.7t₱1.0t10.8x12.3x1x
Tue, 25 Jul 2023₱13.3t₱12.8t₱972.5b11x13.7x1x
Thu, 22 Jun 2023₱12.9t₱12.8t₱972.7b10.3x13.3x1x
Sat, 20 May 2023₱13.3t₱12.7t₱960.1b11.5x13.9x1x
Mon, 17 Apr 2023₱13.1t₱12.1t₱922.8b10.9x14.2x1.1x
Wed, 15 Mar 2023₱12.9t₱11.8t₱1.1t11.1x12.1x1.1x
Fri, 10 Feb 2023₱13.6t₱11.6t₱1.0t11.6x13.3x1.2x
Sun, 08 Jan 2023₱13.1t₱11.6t₱1.0t11.2x12.8x1.1x
Price to Earnings Ratio

12.8x


Total Market Cap: ₱13.1tTotal Earnings: ₱1.0tTotal Revenue: ₱11.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Filipino Market Price to Earnings3Y Average 12x202420252026
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 10.0x which is lower than its 3-year average PE of 12.0x.
Past Earnings Growth
  • The earnings for Filipino listed companies have grown 9.2% per year over the last three years.
  • Revenues for these companies have grown 5.5% 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 Market0.74%
Materials2.25%
Energy1.53%
Tech1.37%
Financials1.29%
Industrials0.73%
Telecom0.69%
Consumer Discretionary0.57%
Utilities0.51%
Real Estate0.36%
Consumer Staples0.28%
Healthcare-4.86%
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 39.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 25.1%, which is higher than its past year's earnings growth of 4.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 32% over the next 5 years.
  • However this is lower than its past earnings growth rate of 61% per year.
  • In contrast, the Real Estate sector is expected to see its earnings grow by 2.7% 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
PTC Philippine Trust₱120.0039.6%
+₱34.1b		0.8%PB5.1xFinancials
BDO BDO Unibank₱134.601.2%
+₱8.5b		-5.7%PB1.2xFinancials
AEV Aboitiz Equity Ventures₱28.005.5%
+₱8.1b		-18.5%PE9.3xIndustrials
EMI Emperador₱16.002.6%
+₱6.3b		-11.4%PE40.5xConsumer Staples
AGI Alliance Global Group₱8.198.3%
+₱5.5b		-9.0%PE3.3xIndustrials
See more

Market Insights

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With the backdrop of consistently strong broad market returns over the last few years, analysts are now looking at sector-specific plays that could outperform in 2026.
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Last Week

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Latest News

MER
₱574.00
Manila Electric
7D
-1.0%
1Y
17.6%

MER: Smart Grid Expansion Will Support Stable Margins And Fairly Valued Outlook

Analysts have maintained their price target for Manila Electric at PHP 598.21, as slightly softer long term revenue growth assumptions are seen as being offset by a modestly stronger profit margin outlook and an unchanged future valuation multiple. What's in the News A board meeting is set for December 3, 2025 to approve various rank conferments effective January 1, 2026 (Key Developments) A board meeting is scheduled on October 27, 2025 to approve Manila Electric's financial and operating results for the first nine months of 2025, with 2024 comparatives (Key Developments) An Itron collaboration has been announced to deploy Advanced Metering Infrastructure across Metro Manila, starting with 73,000 endpoints as part of Meralco's multi year smart grid modernization program (Key Developments) Valuation Changes Fair Value: Unchanged at approximately ₱598.21 per share, indicating a stable overall valuation outlook.
EMI
₱16.00
Emperador
7D
2.6%
1Y
-11.4%

EMI: Governance Reforms And Higher Multiple Will Likely Support Future Upside

Narrative Update on Emperador Analyst Price Target Analysts have lifted their price target on Emperador substantially, from approximately $10.20 to about $18.87. They cite a stronger outlook for revenue growth that more than offsets slightly lower projected profit margins and a higher future earnings multiple.
ALI
₱22.45
Ayala Land
7D
1.6%
1Y
-14.3%

ALI: Regular Cash Dividends Will Support Share Price Upside Into Late 2025

Analysts have slightly lowered their price target for Ayala Land to PHP 32.37 from PHP 32.83, citing marginally softer expectations for revenue growth and profit margins, even though the discount rate has been modestly reduced and a slightly higher future P/E multiple has been assumed. What's in the News Board meeting scheduled for October 29, 2025, to consider declaration of a regular cash dividend of PHP 0.2928 per common share for the second half of 2025 (Key Developments) Board approved a regular cash dividend of PHP 0.2928 per common share for the second half of 2025 at the October 28, 2025, meeting, with record date on November 12, 2025, and payment date on November 26, 2025 (Key Developments) Valuation Changes Fair Value: Lowered slightly to ₱32.37 from ₱32.83, reflecting a modest reduction of about 1.4 percent.
BPI
₱116.10
Bank of the Philippine Islands
7D
-3.1%
1Y
-4.8%

BPI: Steady Dividend And Merger Plans Will Support Bullish Outlook

Analysts have trimmed their price target for Bank of the Philippine Islands slightly, citing marginally lower assumed revenue growth and discount rates, offset by a modestly higher projected profit margin and a slightly cheaper future price to earnings multiple. This results in an updated fair value estimate that remains effectively unchanged at PHP 150.31.
AC
₱468.00
Ayala
7D
1.7%
1Y
-21.9%
UBP
₱26.60
Union Bank of the Philippines
7D
-1.5%
1Y
-26.1%

UBP: Capital Support For Subsidiary Is Expected To Drive Stronger Prospects

Analysts have trimmed their fair value estimate for Union Bank of the Philippines from PHP 33.50 to PHP 30.00, citing a higher required return and slightly slower expected revenue growth, partly offset by improved profit margin assumptions and a modestly lower future price to earnings multiple. What's in the News A board meeting is scheduled for October 8, 2025, to consider infusing up to PHP 1.5 billion in additional capital into subsidiary City Savings Bank Inc to support its growth and ongoing operations (Key Developments).
PX
₱9.90
Philex Mining
7D
-3.7%
1Y
254.8%
PTC
₱120.00
Philippine Trust
7D
39.6%
1Y
0.8%
BDO
₱134.60
BDO Unibank
7D
1.2%
1Y
-5.7%
AGI
₱8.19
Alliance Global Group
7D
8.3%
1Y
-9.0%
SMC
₱82.00
San Miguel
7D
-2.4%
1Y
-4.7%
SGP
₱16.56
Synergy Grid & Development Phils
7D
-1.8%
1Y
69.0%
CNVRG
₱15.32
Converge Information and Communications Technology Solutions
7D
4.6%
1Y
-5.1%
SMPH
₱22.75
SM Prime Holdings
7D
-1.1%
1Y
-9.5%
AEV
₱28.00
Aboitiz Equity Ventures
7D
5.5%
1Y
-18.5%
FB
₱55.00
San Miguel Food and Beverage
7D
-1.7%
1Y
4.3%