Philippine National Bank Past Earnings Performance

Past criteria checks 5/6

Philippine National Bank has been growing earnings at an average annual rate of 17.1%, while the Banks industry saw earnings growing at 14.4% annually. Revenues have been growing at an average rate of 9% per year. Philippine National Bank's return on equity is 9.4%, and it has net margins of 34.8%.

Key information

17.1%

Earnings growth rate

13.9%

EPS growth rate

Banks Industry Growth	13.5%
Revenue growth rate	9.0%
Return on equity	9.4%
Net Margin	34.8%
Next Earnings Update	13 May 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

How Philippine National Bank makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

PSE:PNB Revenue, expenses and earnings (PHP Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	51,603	17,979	16,151
30 Sep 23	46,128	13,744	15,932
30 Jun 23	43,365	10,249	15,660
31 Mar 23	48,009	13,531	15,982
31 Dec 22	44,914	11,532	16,159
30 Sep 22	56,754	19,449	15,544
30 Jun 22	58,995	21,348	15,615
31 Mar 22	67,738	33,421	15,310
31 Dec 21	66,271	32,366	14,675
30 Sep 21	50,242	22,841	15,689
30 Jun 21	50,147	23,155	15,615
31 Mar 21	28,892	2,836	15,078
31 Dec 20	28,425	2,404	15,050
30 Sep 20	34,731	7,030	14,774
30 Jun 20	35,059	6,966	14,636
31 Mar 20	38,341	9,018	14,511
31 Dec 19	38,294	9,582	14,394
30 Sep 19	37,681	8,087	15,233
30 Jun 19	36,011	7,701	15,000
31 Mar 19	38,325	9,721	14,673
31 Dec 18	37,164	9,685	14,212
30 Sep 18	38,262	11,342	13,601
30 Jun 18	37,351	11,154	13,418
31 Mar 18	32,616	8,518	13,262
31 Dec 17	31,728	8,161	13,318
30 Sep 17	25,959	4,266	12,119
30 Jun 17	24,745	3,595	12,356
31 Mar 17	24,621	3,479	12,312
31 Dec 16	26,024	4,794	12,464
30 Sep 16	28,705	6,528	12,724
30 Jun 16	28,441	6,343	12,248
31 Mar 16	28,216	7,229	12,218
01 Jan 16	25,229	5,773	11,882
30 Sep 15	23,753	5,759	11,388
30 Jun 15	23,111	5,239	11,300
31 Mar 15	23,154	4,854	11,354
31 Dec 14	23,599	5,095	10,915
30 Sep 14	21,445	2,836	11,270
30 Jun 14	21,319	3,033	11,196
31 Mar 14	21,412	3,659	10,381
31 Dec 13	22,157	4,950	9,779
30 Sep 13	24,011	7,045	8,774
30 Jun 13	23,001	8,126	7,356

Quality Earnings: PNB has high quality earnings.

Growing Profit Margin: PNB's current net profit margins (34.8%) are higher than last year (25.7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: PNB's earnings have grown by 17.1% per year over the past 5 years.

Accelerating Growth: PNB's earnings growth over the past year (55.9%) exceeds its 5-year average (17.1% per year).

Earnings vs Industry: PNB earnings growth over the past year (55.9%) exceeded the Banks industry 24%.

Philippine National Bank Past Earnings Performance

Past criteria checks 5/6

Key information

Recent past performance updates

Full year 2023 earnings released: EPS: ₱11.78 (vs ₱7.56 in FY 2022)

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

First quarter 2023 earnings released: EPS: ₱3.15 (vs ₱1.84 in 1Q 2022)

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Third quarter 2022 earnings released: EPS: ₱0.18 (vs ₱1.24 in 3Q 2021)

Recent updates

Now 21% undervalued

Price target decreased by 7.3% to ₱25.48

Full year 2023 earnings released: EPS: ₱11.78 (vs ₱7.56 in FY 2022)

Philippine National Bank, Annual General Meeting, Apr 30, 2024

Philippine National Bank, Annual General Meeting, Apr 30, 2024

Price target increased by 9.8% to ₱27.75

Philippine National Bank Announces Management Changes

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Consensus EPS estimates increase by 10%

Philippine National Bank Approves to Recall Appointment of Aidell Amor R. Gregorio as Acting CFO

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

First quarter 2023 earnings released: EPS: ₱3.15 (vs ₱1.84 in 1Q 2022)

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Philippine National Bank, Annual General Meeting, Apr 25, 2023

Philippine National Bank Announces Board and Committee Changes

Philippine National Bank Appoints Jennifer Y. Ng as Head of Marketing Services/Intelligence Analytics and Performance Group, Effective January 16, 2023

Third quarter 2022 earnings released: EPS: ₱0.18 (vs ₱1.24 in 3Q 2021)

Consensus forecasts updated

Philippine National Bank Announces Management Changes

Second quarter 2022 earnings released: EPS: ₱5.40 (vs ₱13.31 in 2Q 2021)

Philippine National Bank Appoints Analisa I. San Pedro as Head of Internal Audit Group and Chief Audit Executive, Effective August 1, 2022

Consensus EPS estimates increase by 12%

Philippine National Bank Announces Executive Changes

Price target decreased to ₱25.34

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Price target decreased to ₱31.18

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Philippine National Bank, Annual General Meeting, Apr 26, 2022

Philippine National Bank, Annual General Meeting, Apr 26, 2022

Consensus forecasts updated

Third quarter 2021 earnings released: EPS ₱7.01 (vs ₱1.64 in 3Q 2020)

Price target decreased to ₱29.24

Philippine National Bank Ordinary Shares to Be Deleted from Other OTC

Consensus forecasts updated

Second quarter 2021 earnings released: EPS ₱5.67 (vs ₱0.03 in 2Q 2020)

First Senior VP & Head of Metro Manila Commercial Banking Group Lee Eng So has left the company

Independent Director Angelito Villanueva has left the company

Executive VP, CFO & Head of Financial Management Sector has left the company

Investor sentiment deteriorated over the past week

Price target increased to ₱35.98

First quarter 2021 earnings released: EPS ₱1.15 (vs ₱0.86 in 1Q 2020)

Independent Chairperson of the Board has left the company

Non Executive Director has left the company

Independent Vice Chairman of the Board Felix Enrico Alfiler has left the company

Investor sentiment improved over the past week

Independent Chairperson of the Board has left the company

Independent Vice Chairman of the Board Felix Enrico Alfiler has left the company

Consensus forecasts updated

Price target increased to ₱33.57

Consensus forecasts updated

Full year 2020 earnings released: EPS ₱1.67 (vs ₱6.98 in FY 2019)

Philippine National Bank Announces Board Changes

Philippine National Bank, Annual General Meeting, Apr 27, 2021

New 90-day low: ₱24.45

New 90-day low: ₱27.00

Amplitech Group, Inc. Announces Promotion of Executives, Effective on February 1, 2021

Alliedbankers Insurance Corporation agreed to acquire PNB General Insurers Co. Inc from Philippine National Bank (PSE:PNB) and PNB Holdings Corp. for PHP 1.5 billion.

Philippine National Bank Announces the Resignation of Rommell B. Narvaez as Head of Marketing and Brand Management Sector, Effective December 31, 2020

Analysts lower revenue estimates to ₱44.4b

Analysts update estimates

Earnings beat expectations, revenue disappoints

Third quarter 2020 earnings released: EPS ₱1.64

New 90-day high: ₱28.20

Market bids up stock over the past week

New 90-day high: ₱24.20

Analysts update estimates

New 90-day high - ₱22.90

First half earnings released

Revenue & Expenses BreakdownBeta

Revenue & Expenses Breakdown
Beta