Ayala Past Earnings Performance

Past criteria checks 4/6

Ayala's earnings have been declining at an average annual rate of -5.9%, while the Industrials industry saw earnings growing at 7.4% annually. Revenues have been growing at an average rate of 4% per year. Ayala's return on equity is 8.2%, and it has net margins of 10.6%.

Key information

-5.9%

Earnings growth rate

-5.5%

EPS growth rate

Industrials Industry Growth	6.2%
Revenue growth rate	4.0%
Return on equity	8.2%
Net Margin	10.6%
Next Earnings Update	14 May 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

How Ayala makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

PSE:AC Revenue, expenses and earnings (PHP Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	341,898	36,398	35,822
30 Sep 23	335,825	34,218	41,634
30 Jun 23	333,226	28,280	40,205
31 Mar 23	319,638	28,545	31,984
31 Dec 22	306,644	26,138	33,481
30 Sep 22	289,480	31,602	29,697
30 Jun 22	271,524	32,933	27,668
31 Mar 22	261,574	30,875	26,914
31 Dec 21	255,778	28,328	29,120
30 Sep 21	248,721	17,260	28,762
30 Jun 21	243,169	10,522	28,835
31 Mar 21	219,149	6,537	30,126
31 Dec 20	219,841	6,085	30,122
30 Sep 20	234,312	31,883	30,793
30 Jun 20	252,088	36,556	31,310
31 Mar 20	286,714	62,204	31,824
31 Dec 19	295,265	64,453	30,538
30 Sep 19	274,980	42,522	26,353
30 Jun 19	276,937	43,420	25,116
31 Mar 19	282,624	23,763	24,802
31 Dec 18	283,801	24,352	24,941
30 Sep 18	300,171	29,607	29,112
30 Jun 18	291,602	29,987	28,757
31 Mar 18	277,010	29,705	25,671
31 Dec 17	249,669	23,649	20,814
30 Sep 17	247,648	28,312	23,220
30 Jun 17	238,481	26,010	21,667
31 Mar 17	230,607	25,877	21,594
31 Dec 16	222,944	24,726	20,361
30 Sep 16	224,244	22,940	18,305
30 Jun 16	218,112	24,369	18,302
31 Mar 16	212,407	21,734	17,929
31 Dec 15	194,475	20,998	18,187
30 Sep 15	197,785	21,072	16,480
30 Jun 15	190,180	18,212	15,211
31 Mar 15	187,395	17,372	15,539
31 Dec 14	183,652	17,986	15,555
30 Sep 14	177,891	15,883	15,586
30 Jun 14	175,375	14,755	15,931
31 Mar 14	164,841	13,214	14,973
31 Dec 13	158,850	12,249	14,271
30 Sep 13	151,307	11,714	14,062
30 Jun 13	142,891	11,186	13,530

Quality Earnings: AC has high quality earnings.

Growing Profit Margin: AC's current net profit margins (10.6%) are higher than last year (8.5%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: AC's earnings have declined by 5.9% per year over the past 5 years.

Accelerating Growth: AC's earnings growth over the past year (39.3%) exceeds its 5-year average (-5.9% per year).

Earnings vs Industry: AC earnings growth over the past year (39.3%) exceeded the Industrials industry 1.7%.

Return on Equity

High ROE: AC's Return on Equity (8.2%) is considered low.

Return on Assets

Return on Capital Employed

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Ayala Past Earnings Performance

Past criteria checks 4/6

Key information

Recent past performance updates

Full year 2023 earnings released: EPS: ₱61.43 (vs ₱42.20 in FY 2022)

Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Second quarter 2023 earnings released: EPS: ₱13.72 (vs ₱13.13 in 2Q 2022)

First quarter 2023 earnings released: EPS: ₱16.50 (vs ₱12.10 in 1Q 2022)

Full year 2022 earnings released: EPS: ₱44.25 (vs ₱45.50 in FY 2021)

Second quarter 2022 earnings released: EPS: ₱13.12 (vs ₱9.81 in 2Q 2021)

Recent updates

Insider recently bought ₱14m worth of stock

Full year 2023 earnings released: EPS: ₱61.43 (vs ₱42.20 in FY 2022)

Lead Independent Director recently sold ₱807k worth of stock

Ayala Corporation Announces Resignation of Solomon M. Hermosura as Senior Managing Director, Corporate Governance Group Head, Chief Legal Officer, Corporate Secretary, Compliance Officer and Data Protection Officer, Effective from February 29, 2024

Upcoming dividend of ₱3.81 per share at 1.1% yield

Ayala Corporation, Annual General Meeting, Apr 26, 2024

Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

New minor risk - Profit margin trend

Second quarter 2023 earnings released: EPS: ₱13.72 (vs ₱13.13 in 2Q 2022)

Ayala Corporation Announces Executive Changes

First quarter 2023 earnings released: EPS: ₱16.50 (vs ₱12.10 in 1Q 2022)

Full year 2022 earnings released: EPS: ₱44.25 (vs ₱45.50 in FY 2021)

Senior MD recently sold ₱2.2m worth of stock

Senior MD recently sold ₱5.1m worth of stock

Senior MD recently sold ₱3.6m worth of stock

Ayala Corporation Declares Regular Cash Dividend for the Second Semester Ending December 31, 2022, Payable on January 12, 2023

Less than half of directors are independent

Less than half of directors are independent

Ayala Corporation Announces Management Changes

Price target decreased to ₱970

Ayala Corporation Announces CEO Changes

Ayala Corporation Announces Management Changes

Second quarter 2022 earnings released: EPS: ₱13.12 (vs ₱9.81 in 2Q 2021)

Less than half of directors are independent

Ayala Corporation Approves Promotion of Solomon M. Hermosura to Senior Managing Director

Less than half of directors are independent

Price target increased to ₱1,194

Full year 2021 earnings: Revenues miss analyst expectations

Senior MD & Executive Director recently sold ₱7.2m worth of stock

Third quarter 2021 earnings released: EPS ₱15.48 (vs ₱3.04 in 3Q 2020)

Managing Director recently sold ₱17m worth of stock

Insider recently sold ₱3.3m worth of stock

Insider recently sold ₱2.4m worth of stock

Second quarter 2021 earnings released: EPS ₱9.72 (vs ₱3.34 in 2Q 2020)

Director Cezar Consing has joined 5th company board

Director Cezar Consing has joined 5th company board

Director Cezar Consing has joined 5th company board

Director Cezar Consing has joined 5th company board

Director Cezar Consing has joined 5th company board

Director Cezar Consing has joined 5th company board

Upcoming dividend of ₱3.46 per share

Managing Director recently sold ₱12m worth of stock

Managing Director recently sold ₱4.1m worth of stock

Insider recently sold ₱3.2m worth of stock

First quarter 2021 earnings released: EPS ₱7.89 (vs ₱7.19 in 1Q 2020)

Senior MD, CFO, Chief Risk Officer, Chief Sustainability Officer & Finance Group Head has left the company

Insider exercised options to buy ₱45m worth of stock.

Senior MD recently sold ₱10m worth of stock

Full year 2020 earnings released: EPS ₱9.71 (vs ₱103 in FY 2019)

Full year 2020 earnings released: EPS ₱10.85 (vs ₱103 in FY 2019)

New 90-day low: ₱760

Ayala Corporation Appoints Eric Francia to Lead its Investment Committee

Price target raised to ₱942

Ayala Corporation Announces Executive Changes

Ayala Corporation Announces Board Changes

MD, Chief Legal Officer recently sold ₱2.5m worth of stock

Price target raised to ₱840

Third quarter 2020 earnings released: EPS ₱3.04

MD, Chief Legal Officer recently sold ₱2.2m worth of stock

New 90-day high: ₱775

Ayala Corporation Announces Resignation of Xavier P. Loinaz as Lead Independent Director

New 90-day low: ₱685

Managing Director recently sold ₱370.0k worth of stock

New 90-day low - ₱692

First half earnings released

Revenue & Expenses BreakdownBeta

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Revenue & Expenses Breakdown
Beta