New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings have declined by 0.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings have declined by 0.6% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (26% net profit margin). Reported Earnings • Nov 19
Third quarter 2025 earnings released: ₱0.005 loss per share (vs ₱0.11 profit in 3Q 2024) Third quarter 2025 results: ₱0.005 loss per share (down from ₱0.11 profit in 3Q 2024). Revenue: ₱3.51b (up 75% from 3Q 2024). Net loss: ₱47.7m (down 118% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Aankondiging • Nov 14
DoubleDragon Corporation, Annual General Meeting, Dec 19, 2025 DoubleDragon Corporation, Annual General Meeting, Dec 19, 2025, at 10:30 W. Australia Standard Time. Recent Insider Transactions • Oct 14
Executive Chairman & CEO recently bought ₱47m worth of stock On the 10th of October, Edgar Sia bought around 5m shares on-market at roughly ₱9.15 per share. This transaction amounted to 64% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Edgar has been a buyer over the last 12 months, purchasing a net total of ₱78m worth in shares. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ₱0.064 (vs ₱0.10 in 2Q 2024) Second quarter 2025 results: EPS: ₱0.064. Revenue: ₱2.50b (up 7.3% from 2Q 2024). Net income: ₱288.3m (up 18% from 2Q 2024). Profit margin: 12% (up from 11% in 2Q 2024). Recent Insider Transactions • Jul 16
Executive Chairman & CEO recently bought ₱11m worth of stock On the 7th of July, Edgar Sia bought around 1m shares on-market at roughly ₱11.14 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₱20m. Edgar has been a buyer over the last 12 months, purchasing a net total of ₱31m worth in shares. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₱11.78, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total returns to shareholders of 54% over the past three years. New Risk • Jun 04
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 7.6% 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 Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings have declined by 2.9% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (47% net profit margin). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to ₱13.20, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 6x in the Real Estate industry in Philippines. Total returns to shareholders of 87% over the past three years. Recent Insider Transactions • May 30
Executive Chairman & CEO recently bought ₱20m worth of stock On the 26th of May, Edgar Sia bought around 2m shares on-market at roughly ₱10.04 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Edgar's only on-market trade for the last 12 months. Aankondiging • May 17
DoubleDragon Corporation Unveils Its Newest Hotel101 Development Project in Metro Manila DoubleDragon Corporation announced Hotel101-Roxas Boulevard, its latest development project located in a prime 1,790 square meters commercial land at Roxas Boulevard, Pasay City, Metro Manila, to have a total of 34 floors and building height of about 129 meters from ground to the helipad. This upcoming Hotel101-Roxas Blvd with 700 rooms is set to become the largest hotel in the entire stretch of Roxas Boulevard and is envisioned to become the most vibrant landmark hotel in the area. The project includes relevant amenities such as function and convention facilities, swimming pool, co-working/business center area, gym, all-day dining restaurant at the 34th floor with stunning views of Manila Bay. The 700-Room Hotel101-Roxas Avenue is expected to generate PHP 5.25 Billion in unit sales revenues. The project is set to begin construction in the second half this year 2025, and target completion set in the second half of 2028. The project will form part of the long term goal of Hotel101 Global to build a portfolio of 50,000 operating rooms in the Philippines, as part of the overall vision of 1 million operating Hotel101 rooms worldwide spread across 100 countries globally. DoubleDragon adopts dynamic pricing on its room rates similar to airline tickets where its prices move up and down depending on the real time supply and demand on the chosen date of booking. Title of Each Class, Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding, Common Shares, 2,345,028,600, Preferred Shares, 100,000,000. Indicate the item numbers reported herein: DoubleDragon unveils its newest Hotel101 development project in Metro Manila. Hotel101-Roxas Products with 700 rooms is set to becomes the largest hotel in the entire run of Roxas Boulevard. The 700-Room Hotel 101-Roxas Boulevard with 700 rooms is set to come the largest hotel in the entire stretches of Roxas Boulevard and is expected to generate 5.25 Billion in unit sales revenue. The project will form part the long term goal of Hotel 101 Global to build a portfolio of50,000 operating rooms in the Philippine, as part of the overall Vision of 1 million operating Hotel101 room worldwide spread across 100 countries globally; DoubleDragon announces Hotel101-Roxas Street, Pasay City, Metro Philippines, to have a total of34 floors and building height of about 130 meters from ground to the helIPad. This upcoming Hotel101 - with 700 rooms is set to became the largest hotel in the entire reach of Roxas Boulevard and is projected to become the most vibrant landmark Hotel101 Boulevard. The 700-Room hotel101-Roxas Boulevard is expected to generate P5.,25 Billion in unit sales revenues; The project will form part of The long term goal of Hotel101 global to build a portfolio of 50.000 operating rooms in the Philippines; as part of the overall vision the overall vision of 1 million Operating Hotel101 rooms worldwide spread across100 countries globally. New Risk • May 04
New major risk - Revenue and earnings growth Earnings have declined by 1.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings have declined by 1.8% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (49% net profit margin). Aankondiging • Apr 16
DoubleDragon Corporation (PSE:DD) agreed to acquire 35% stake in MerryMart Consumer Corp. (PSE:MM) from Injap Investments, Inc. for PHP 1.3 billion. DoubleDragon Corporation (PSE:DD) agreed to acquire 35% stake in MerryMart Consumer Corp. (PSE:MM) from Injap Investments, Inc. for PHP 1.3 billion on April 15, 2025. The transaction will be paid 50% using DoubleDragon shares as payment and 50% in cash, amounting to PHP 637.97 Million.
The transaction is subject to approval by regulatory board / committee and consummation of tender offer. The deal has been approved by the board of DoubleDragon Corporation. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₱9.88, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 5x in the Real Estate industry in Philippines. Total returns to shareholders of 23% over the past three years. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: ₱0.12 (vs ₱0.16 in 3Q 2023) Third quarter 2024 results: EPS: ₱0.12. Revenue: ₱2.03b (up 12% from 3Q 2023). Net income: ₱506.6m (up 32% from 3Q 2023). Profit margin: 25% (up from 21% in 3Q 2023). Aankondiging • Nov 11
DoubleDragon Corporation, Annual General Meeting, Dec 13, 2024 DoubleDragon Corporation, Annual General Meeting, Dec 13, 2024, at 10:30 W. Australia Standard Time. Upcoming Dividend • Oct 29
Upcoming dividend of ₱0.26 per share Eligible shareholders must have bought the stock before 05 November 2024. Payment date: 29 November 2024. Trailing yield: 2.6%. Lower than top quartile of Filipino dividend payers (6.2%). Higher than average of industry peers (1.9%). Recent Insider Transactions • Sep 21
Executive Chairman & CEO recently bought ₱35m worth of stock On the 19th of September, Edgar Sia bought around 4m shares on-market at roughly ₱9.50 per share. This transaction increased Edgar's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Edgar's only on-market trade for the last 12 months. New Risk • Aug 19
New major risk - Revenue and earnings growth Earnings have declined by 0.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Earnings have declined by 0.3% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 17
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₱2.35b (up 9.6% from 2Q 2023). Net income: ₱732.7m (up 85% from 2Q 2023). Profit margin: 31% (up from 18% in 2Q 2023). Reported Earnings • May 17
First quarter 2024 earnings released First quarter 2024 results: Revenue: ₱2.05b (up 20% from 1Q 2023). Net income: ₱269.5m (up ₱263.7m from 1Q 2023). Profit margin: 13% (up from 0.3% in 1Q 2023). Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₱9.53, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 6x in the Real Estate industry in Philippines. Total loss to shareholders of 13% over the past three years. Reported Earnings • Apr 18
Full year 2023 earnings released: EPS: ₱3.57 (vs ₱2.07 in FY 2022) Full year 2023 results: EPS: ₱3.57 (up from ₱2.07 in FY 2022). Revenue: ₱8.26b (up 25% from FY 2022). Net income: ₱9.25b (up 89% from FY 2022). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₱9.10, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 7x in the Real Estate industry in Philippines. Total loss to shareholders of 24% over the past three years. Aankondiging • Apr 08
JVSPAC Acquisition Corp. (NasdaqCM:JVSA) agreed to acquire Hotel 101 Global Pte. Ltd. from DoubleDragon Corporation (PSE:DD). JVSPAC Acquisition Corp. (NasdaqCM:JVSA) agreed to acquire Hotel 101 Global Pte. Ltd. from DoubleDragon Corporation (PSE:DD) on April 8, 2024. The completion of the transaction is subject to regulatory and shareholders of JVSPAC Acquisition Corp. (NasdaqCM:JVSA) or Hotel 101 Global Pte. Ltd. approvals and other customary closing conditions. The transaction is expected to close during the second half of 2024. Merdeka Corporate Finance Limited acted as the financial advisor and Milbank LLP acted as a legal advisor to Hotel 101 Global Pte. Ltd. Loeb & Loeb LLP and DaHui Lawyers acted as the legal advisors to JVSPAC Acquisition Corp. (NasdaqCM:JVSA). Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₱8.15, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 7x in the Real Estate industry in Philippines. Total loss to shareholders of 40% over the past three years. Reported Earnings • Nov 17
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₱1.82b (down 17% from 3Q 2022). Net income: ₱626.1m (up 290% from 3Q 2022). Profit margin: 35% (up from 7.3% in 3Q 2022). Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: ₱0.17 (vs ₱0.23 in 2Q 2022) Second quarter 2023 results: EPS: ₱0.17 (down from ₱0.23 in 2Q 2022). Revenue: ₱2.16b (up 30% from 2Q 2022). Net income: ₱395.6m (down 26% from 2Q 2022). Profit margin: 18% (down from 32% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 20% per year. Upcoming Dividend • May 29
Upcoming dividend of ₱0.26 per share at 3.2% yield Eligible shareholders must have bought the stock before 05 June 2023. Payment date: 05 July 2023. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Filipino dividend payers (5.9%). Higher than average of industry peers (1.4%). Aankondiging • May 18
DoubleDragon Corporation Announces Declaration of Cash Dividend, Payable on July 5, 2023 The Board of Directors of DoubleDragon Corporation, at its Board meeting held on May 15, 2023, approved the declaration of cash dividend to all common stockholders in the amount of Six Hundred Fifteen Million Three Hundred Thirty Five Thousand Five Hundred Four Pesos and Sixty Four Centavos Only (PHP 615,335,504.64) equivalent to PHP 0.2624 per share in favor of all common stockholders of record as of June 8, 2023 payable on July 5, 2023. Aankondiging • May 17
DoubleDragon Corporation, Annual General Meeting, Sep 29, 2023 DoubleDragon Corporation, Annual General Meeting, Sep 29, 2023, at 10:30 Singapore Standard Time. Agenda: To consider Approval of the Minutes of the Previous Stockholders' Meeting; to consider Company Updates and Report; to consider approval of the 2022 Audited Financial Statements and the 2022 Annual Report; to consider ratification of the Actions of the Board of Directors and Officers; to consider election of Directors; to consider appointment of External Auditors; and to transact other matters. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₱7.85, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 8x in the Real Estate industry in Philippines. Total loss to shareholders of 49% over the past three years. Reported Earnings • Apr 20
Full year 2022 earnings released: EPS: ₱2.07 (vs ₱2.85 in FY 2021) Full year 2022 results: EPS: ₱2.07 (down from ₱2.85 in FY 2021). Revenue: ₱6.65b (up 9.0% from FY 2021). Net income: ₱5.55b (down 18% from FY 2021). Profit margin: 84% (down from 111% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 25% per year and the company’s share price has also fallen by 25% per year. Reported Earnings • Nov 17
Third quarter 2022 earnings released: EPS: ₱0.014 (vs ₱0.02 loss in 3Q 2021) Third quarter 2022 results: EPS: ₱0.014 (up from ₱0.02 loss in 3Q 2021). Revenue: ₱2.24b (up 30% from 3Q 2021). Net income: ₱193.2m (up ₱234.6m from 3Q 2021). Profit margin: 8.6% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. 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. 2 experienced directors. 8 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Vince Perez was the last independent director to join the board, commencing their role in 2014. 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 • Nov 08
Investor sentiment improved over the past week After last week's 30% share price gain to ₱7.30, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 7x in the Real Estate industry in Philippines. Total loss to shareholders of 61% over the past three years. Upcoming Dividend • Oct 04
Upcoming dividend of ₱0.23 per share Eligible shareholders must have bought the stock before 11 October 2022. Payment date: 31 October 2022. Trailing yield: 3.7%. Lower than top quartile of Filipino dividend payers (5.8%). Higher than average of industry peers (1.0%). Reported Earnings • Aug 18
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ₱1.70b (up 45% from 2Q 2021). Net income: ₱462.3m (down 77% from 2Q 2021). Profit margin: 27% (down from 174% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 18
First quarter 2022 earnings released First quarter 2022 results: Revenue: ₱1.71b (up 14% from 1Q 2021). Net income: ₱290.8m (up ₱247.0m from 1Q 2021). Profit margin: 17% (up from 2.9% in 1Q 2021). 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. 2 experienced directors. 8 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Vince Perez was the last independent director to join the board, commencing their role in 2014. 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 • Mar 11
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₱9.32, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 12x in the Real Estate industry in Philippines. Total loss to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₱7.16, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 13x in the Real Estate industry in Philippines. Total loss to shareholders of 60% over the past three years. Reported Earnings • Nov 17
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ₱1.73b (up 4.1% from 3Q 2020). Net income: ₱120.5m (down 64% from 3Q 2020). Profit margin: 7.0% (down from 20% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improved over the past week After last week's 17% share price gain to ₱11.86, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 11x in the Real Estate industry in Philippines. Total loss to shareholders of 38% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released Second quarter 2021 results: Revenue: ₱1.17b (flat on 2Q 2020). Net income: ₱2.20b (down 16% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 11
Upcoming dividend of ₱0.20 per share Eligible shareholders must have bought the stock before 18 August 2021. Payment date: 16 September 2021. Trailing yield: 1.9%. Lower than top quartile of Filipino dividend payers (4.2%). Higher than average of industry peers (0.7%). Is New 90 Day High Low • Mar 16
New 90-day low: ₱12.54 The company is down 23% from a price of ₱16.30 on 16 December 2020. Underperformed the Filipino market, which is down 6.0% over the last 90 days. Lagged the Real Estate industry, which is down 8.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: ₱15.24 The company is up 4.0% from its price of ₱14.68 on 09 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. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS ₱0.14 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: ₱1.66b (up 24% from 3Q 2019). Net income: ₱333.6m (down 57% from 3Q 2019). Profit margin: 20% (down from 58% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 06
New 90-day low: ₱13.90 The company is down 13% from its price of ₱16.00 on 07 August 2020. The Filipino market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 10.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: ₱14.20 The company is down 21% from its price of ₱17.88 on 23 June 2020. The Filipino market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 12% over the same period. Recent Insider Transactions • Sep 19
Chairman & CEO recently bought ₱2.5m worth of stock On the 17th of September, Edgar Sia bought around 178k shares on-market at roughly ₱14.29 per share. This was the largest purchase by an insider in the last 3 months. Edgar has been a buyer over the last 12 months, purchasing a net total of ₱13m worth in shares.