Narrative Update • Aug 25
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Filipino (PSEi) Market Analysis & Valuation
UpdatedAug 30, 2026
DataAggregated Company Financials
Companies249
- 7D-3.4%
- 3M1.1%
- 1Y-2.2%
- YTD-5.7%
Over the last 7 days, the market has dropped 3.4%, driven by a pullback of 4.9% in the Industrials sector. On the other hand, the Materials has risen by 3.1%. Although the market performance has been flat over the past year. As for the next few years, earnings are expected to grow by 10.0% per annum.
Market Valuation and Performance
Has the Filipino Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 30 Aug 2026 | ₱12.6t | ₱14.7t | ₱1.4t | 8.6x | 8.9x | 0.9x |
| Tue, 28 Jul 2026 | ₱13.0t | ₱13.9t | ₱1.4t | 8x | 9.2x | 0.9x |
| Thu, 25 Jun 2026 | ₱12.6t | ₱13.9t | ₱1.4t | 7.9x | 8.8x | 0.9x |
| Sat, 23 May 2026 | ₱12.8t | ₱13.9t | ₱1.4t | 7.9x | 9x | 0.9x |
| Mon, 20 Apr 2026 | ₱12.8t | ₱13.6t | ₱1.4t | 8x | 8.9x | 0.9x |
| Wed, 18 Mar 2026 | ₱12.8t | ₱13.8t | ₱1.4t | 7.9x | 9.2x | 0.9x |
| Fri, 13 Feb 2026 | ₱13.7t | ₱13.6t | ₱1.3t | 8.9x | 10.3x | 1x |
| Sun, 11 Jan 2026 | ₱13.8t | ₱13.7t | ₱1.3t | 8.8x | 10.3x | 1x |
| Tue, 09 Dec 2025 | ₱13.3t | ₱13.7t | ₱1.3t | 8.3x | 10x | 1x |
| Thu, 06 Nov 2025 | ₱11.9t | ₱13.6t | ₱1.3t | 8.2x | 9.1x | 0.9x |
| Sat, 04 Oct 2025 | ₱12.5t | ₱13.6t | ₱1.3t | 8.6x | 9.5x | 0.9x |
| Mon, 01 Sep 2025 | ₱12.5t | ₱13.6t | ₱1.3t | 8.4x | 9.5x | 0.9x |
| Wed, 30 Jul 2025 | ₱14.3t | ₱13.6t | ₱1.3t | 9.3x | 11.4x | 1x |
| Fri, 27 Jun 2025 | ₱14.3t | ₱13.6t | ₱1.2t | 9.2x | 11.4x | 1x |
| Sun, 25 May 2025 | ₱14.2t | ₱13.6t | ₱1.3t | 8.9x | 11.3x | 1x |
| Tue, 22 Apr 2025 | ₱13.8t | ₱13.6t | ₱1.2t | 9.1x | 11.9x | 1x |
| Thu, 20 Mar 2025 | ₱14.2t | ₱13.5t | ₱1.2t | 9.1x | 11.9x | 1.1x |
| Sat, 15 Feb 2025 | ₱13.7t | ₱13.4t | ₱1.1t | 9.4x | 12x | 1x |
| Mon, 13 Jan 2025 | ₱14.2t | ₱13.4t | ₱1.1t | 9.4x | 12.4x | 1.1x |
| Wed, 11 Dec 2024 | ₱14.4t | ₱13.5t | ₱1.1t | 9.3x | 12.5x | 1.1x |
| Fri, 08 Nov 2024 | ₱14.7t | ₱13.3t | ₱1.1t | 9.3x | 13.2x | 1.1x |
| Sun, 06 Oct 2024 | ₱15.3t | ₱13.3t | ₱1.1t | 9.4x | 13.9x | 1.2x |
| Tue, 03 Sep 2024 | ₱14.1t | ₱13.3t | ₱1.1t | 8.9x | 12.3x | 1.1x |
| Thu, 01 Aug 2024 | ₱13.6t | ₱13.1t | ₱1.2t | 9.1x | 11.8x | 1x |
| Sat, 29 Jun 2024 | ₱13.2t | ₱13.0t | ₱1.1t | 9.1x | 11.5x | 1x |
| Mon, 27 May 2024 | ₱13.3t | ₱13.0t | ₱1.1t | 9.7x | 11.6x | 1x |
| Wed, 24 Apr 2024 | ₱12.9t | ₱12.7t | ₱1.1t | 9.9x | 11.5x | 1x |
| Fri, 22 Mar 2024 | ₱13.5t | ₱12.7t | ₱1.1t | 10.1x | 12.2x | 1.1x |
| Sun, 18 Feb 2024 | ₱13.4t | ₱12.6t | ₱1.1t | 10x | 12.7x | 1.1x |
| Tue, 16 Jan 2024 | ₱13.2t | ₱12.7t | ₱1.1t | 10.4x | 12.4x | 1x |
| Thu, 14 Dec 2023 | ₱12.5t | ₱12.7t | ₱1.1t | 9.7x | 11.8x | 1x |
| Sat, 11 Nov 2023 | ₱12.4t | ₱12.6t | ₱1.0t | 10.3x | 12.2x | 1x |
| Mon, 09 Oct 2023 | ₱12.7t | ₱12.6t | ₱1.0t | 10.6x | 12.5x | 1x |
| Wed, 06 Sep 2023 | ₱12.7t | ₱12.7t | ₱1.0t | 10.7x | 12.4x | 1x |
Price to Earnings Ratio
12.4x
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 11.1x.
Past Earnings Growth
- The earnings for Filipino listed companies have grown 12% per year over the last three years.
- Revenues for these companies have grown 5.1% 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 | -3.40% | |
| Materials | 3.08% | |
| Healthcare | 0.79% | |
| Tech | -0.35% | |
| Consumer Staples | -0.91% | |
| Consumer Discretionary | -2.14% | |
| Real Estate | -2.19% | |
| Financials | -3.29% | |
| Utilities | -4.29% | |
| Energy | -4.69% | |
| Industrials | -4.91% | |
| Telecom | -6.19% | |
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 36.9x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 23.1% 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 9.4x.
Forecasted Growth
- Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 26% over the next 5 years.
- However this is lower than its past earnings growth rate of 71% per year.
- In contrast, the Real Estate industry is expected to see its earnings growth to stay flat 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 | |
|---|---|---|---|---|---|---|
| PAL PAL Holdings | ₱2.71 | 29.0% +₱16.4b | -28.7% | PE586.5x | Industrials | |
| AT Atlas Consolidated Mining and Development | ₱20.45 | 14.4% +₱9.1b | 438.2% | PE14.5x | Materials | |
| ALI Ayala Land | ₱15.54 | 2.8% +₱6.0b | -44.5% | PE6.1x | Real Estate | |
| PNB Philippine National Bank | ₱70.00 | 5.7% +₱5.8b | 29.3% | PB0.4x | Financials | |
| EMI Emperador | ₱15.38 | 2.4% +₱5.7b | -5.6% | PE66.9x | Consumer Staples |
