DMCI Holdings (PSE:DMC) - Share price, News & Analysis

DMC fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	6/6
Financial Health	6/6
Dividends	5/6

DMC Stock Overview

Rewards

Trading at 24% below our estimate of its fair value

Earnings grew by 167.6% over the past year

Risk Analysis

Earnings are forecast to decline by an average of 9.6% per year for the next 3 years

Unstable dividend track record

DMCI Holdings Competitors

Ayala Land

PSE:ALI

₱422.0b

Robinsons Land

PSE:RLC

₱95.9b

Vista Land & Lifescapes

PSE:VLL

₱31.0b

Filinvest Land

PSE:FLI

₱24.2b

Price History & Performance

Summary of all time highs, changes and price drops for DMCI Holdings
Historical stock prices
Current Share Price	₱8.94
52 Week High	₱9.85
52 Week Low	₱5.48
Beta	0.63
1 Month Change	1.82%
3 Month Change	6.43%
1 Year Change	59.64%
3 Year Change	-14.53%
5 Year Change	-33.08%
Change since IPO	861.29%

Shareholder Returns

	DMC	PH Industrials	PH Market
7D	7.7%	3.0%	2.5%
1Y	59.6%	-0.6%	7.9%

Return vs Industry: DMC exceeded the PH Industrials industry which returned -0.6% over the past year.

Return vs Market: DMC exceeded the PH Market which returned 7.9% over the past year.

Price Volatility

Is DMC's price volatile compared to industry and market?
DMC volatility
DMC Average Weekly Movement	5.0%
Industrials Industry Average Movement	4.9%
Market Average Movement	5.6%
10% most volatile stocks in PH Market	10.1%
10% least volatile stocks in PH Market	3.1%

Stable Share Price: DMC is not significantly more volatile than the rest of PH stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: DMC's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1995	n/a	Isidro Consunji	https://www.dmciholdings.com

DMCI Holdings, Inc., through its subsidiaries, engages in the general construction, coal and nickel mining, power generation, real estate development, water concession, and manufacturing businesses in the Philippines and internationally. It operates through seven segments: Construction and Others, Coal Mining, Nickel Mining, Real Estate, On-Grid Power, Off-Grid Power, and Water. It constructs various projects comprising commercial and residential buildings; bridges, power plants, industrial plants; and chapels, hotels, irrigation dams, power transmission lines, and theaters.

DMCI Holdings Fundamentals Summary

How do DMCI Holdings's earnings and revenue compare to its market cap?
DMC fundamental statistics
Market Cap	₱118.70b
Earnings (TTM)	₱25.40b
Revenue (TTM)	₱128.21b

4.7x

P/E Ratio

0.9x

P/S Ratio

Is DMC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
DMC income statement (TTM)
Revenue	₱128.21b
Cost of Revenue	₱72.27b
Gross Profit	₱55.94b
Other Expenses	₱30.54b
Earnings	₱25.40b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	1.91
Gross Margin	43.63%
Net Profit Margin	19.81%
Debt/Equity Ratio	43.4%

How did DMC perform over the long term?

See historical performance and comparison

Dividends

5.4%

Current Dividend Yield

7%

Payout Ratio

Valuation

Is DMCI Holdings undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

24.0%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: DMC (₱8.94) is trading below our estimate of fair value (₱11.77)

Significantly Below Fair Value: DMC is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: DMC is good value based on its Price-To-Earnings Ratio (4.7x) compared to the PH Industrials industry average (11.3x).

PE vs Market: DMC is good value based on its Price-To-Earnings Ratio (4.7x) compared to the PH market (11.9x).

Price to Earnings Growth Ratio

PEG Ratio: DMC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Price to Book Ratio

PB vs Industry: DMC's Price-To-Book Ratio (1.2x) is in line with the PH Industrials industry average.

Future Growth

How is DMCI Holdings forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

-9.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: DMC's earnings are forecast to decline over the next 3 years (-9.6% per year).

Earnings vs Market: DMC's earnings are forecast to decline over the next 3 years (-9.6% per year).

High Growth Earnings: DMC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: DMC's revenue is expected to decline over the next 3 years (-7.1% per year).

High Growth Revenue: DMC's revenue is forecast to decline over the next 3 years (-7.1% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: DMC's Return on Equity is forecast to be low in 3 years time (18%).

Past Performance

How has DMCI Holdings performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

0.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: DMC has high quality earnings.

Growing Profit Margin: DMC's current net profit margins (19.8%) are higher than last year (12.3%).

Past Earnings Growth Analysis

Earnings Trend: DMC's earnings have grown by 0.2% per year over the past 5 years.

Accelerating Growth: DMC's earnings growth over the past year (167.6%) exceeds its 5-year average (0.2% per year).

Earnings vs Industry: DMC earnings growth over the past year (167.6%) exceeded the Industrials industry 57.4%.

Return on Equity

High ROE: DMC's Return on Equity (30.8%) is considered high.

Financial Health

How is DMCI Holdings's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: DMC's short term assets (₱140.6B) exceed its short term liabilities (₱55.8B).

Long Term Liabilities: DMC's short term assets (₱140.6B) exceed its long term liabilities (₱55.0B).

Debt to Equity History and Analysis

Debt Level: DMC's net debt to equity ratio (19.8%) is considered satisfactory.

Reducing Debt: DMC's debt to equity ratio has reduced from 46.7% to 43.4% over the past 5 years.

Debt Coverage: DMC's debt is well covered by operating cash flow (68.3%).

Interest Coverage: DMC's interest payments on its debt are well covered by EBIT (63.8x coverage).

Balance Sheet

Dividend

What is DMCI Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

5.37%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: DMC's dividend (5.37%) is higher than the bottom 25% of dividend payers in the PH market (1.41%).

High Dividend: DMC's dividend (5.37%) is in the top 25% of dividend payers in the PH market (4.65%)

Stability and Growth of Payments

Stable Dividend: DMC's dividend payments have been volatile in the past 10 years.

Growing Dividend: DMC's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (6.8%), DMC's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (21.7%), DMC's dividend payments are well covered by cash flows.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

11.8yrs

Average management tenure

CEO

Isidro Consunji (72 yo)

27.17yrs

Tenure

Mr. Isidro A. Consunji serves as Chairman of the Board at DMCI Power Corp. He is Director of Atlas Consolidated Mining and Development Corporation since April 22, 2012. Mr. Consunji has been the Chief Exec...

Leadership Team

Experienced Management: DMC's management team is seasoned and experienced (11.8 years average tenure).

Board Members

Experienced Board: DMC's board of directors are seasoned and experienced ( 20.5 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: DMC insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/24 00:00
End of Day Share Price	2022/05/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31