Manila Electric Management
Management criteria checks 4/4
We currently do not have sufficient information about the CEO.
Key information
Manny Pangilinan
Chief executive officer
₱2.3m
Total compensation
| CEO salary percentage | n/a |
| CEO tenure | 3yrs |
| CEO ownership | 0.009% |
| Management average tenure | 6.9yrs |
| Board average tenure | 12.4yrs |
Recent management updates
Recent updates
Narrative Update • May 15
MER: Future Returns Will Rely On Dividends And Power Grid Digitalization
Analysts have lifted their fair value price target for Manila Electric from ₱637.05 to ₱661.86, citing updated assumptions for revenue growth, profit margins, the discount rate and a slightly lower future P/E multiple. What's in the News Board meeting scheduled on May 4, 2026 to review Manila Electric Company’s financial and operating results for the first quarter of 2026, with comparisons against the first quarter of 2025 (Key Developments).Narrative Update • Apr 25
MER: Future Returns Will Rely On Dividends And Grid Digitalization Collaboration
Analysts have increased their fair value estimate for Manila Electric slightly, from ₱636.41 to ₱637.05. This reflects updated assumptions that include modestly lower revenue growth, a small uplift in profit margin and a largely unchanged forward P/E multiple.Narrative Update • Apr 10
MER: Stable Outlook Will Rely On Dividends And Grid Digitalization Initiatives
Analysts have kept their ₱636.41 price target for Manila Electric unchanged, citing essentially stable assumptions around the discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News Huawei, Meralco, and SANXING Ningbo launched an Intelligent Distribution Solution that focuses on reliable communication, edge computing, cloud edge collaboration, and low voltage transparency for power distribution networks (Key Developments).Narrative Update • Mar 27
MER: Steady Outlook As Dividends And Gas Contract Extension Support Future Returns
Narrative Update on Manila Electric Price Target The analyst price target for Manila Electric remains effectively unchanged at around ₱636.41, as analysts keep their assumptions for discount rate, revenue growth, profit margins and future P/E broadly consistent with prior estimates. What's in the News Huawei, Meralco, and SANXING Ningbo launched an Intelligent Distribution Solution that focuses on reliable communication, edge computing, cloud edge collaboration, and low voltage transparency for a 400 V distribution network, aiming to integrate digital systems across the grid (Key Developments).Narrative Update • Mar 12
MER: Dividend Plans And Contract Extension Will Support Steady Forward Outlook
Analysts have raised their price target on Manila Electric, moving fair value from ₱623.63 to about ₱636.41 as they incorporate updated assumptions on revenue growth, profit margins, the discount rate, and future P/E. What's in the News A board meeting is scheduled on Feb 25, 2026 to review full year 2025 financial and operating results with 2024 comparatives and to consider a cash dividend of ₱16.672 per share, with a record date on Mar 26, 2026 and payment on Apr 20, 2026 (Key Developments).Narrative Update • Feb 25
MER: Contract Extension And Board Actions Will Support Steady Forward Outlook
Analysts have kept their price target for Manila Electric broadly unchanged at around ₱623.63, with only marginal tweaks to revenue growth, profit margin, discount rate, and future P/E assumptions reflected in their latest update. What's in the News The Energy Regulatory Commission approved a five month extension of Manila Electric Co.'s gas power supply contract with First Gen unit First Gas Power Corp., allowing Meralco to keep sourcing power from the Sta.Narrative Update • Feb 11
MER: Contract Extension And Board Calendar Will Support Steady Forward Outlook
Analysts have lifted their fair value estimate for Manila Electric to ₱623.63 from ₱614.25, citing updated assumptions on the discount rate, revenue growth, profit margin and future P/E. What's in the News The Energy Regulatory Commission approved a five month extension of Meralco's gas power supply contract with First Gen's First Gas Power Corp., allowing continued sourcing from the Sta.Narrative Update • Jan 27
MER: Board Calendar And Steady P/E Assumptions Will Support Fair Outlook
Analysts have raised their price target for Manila Electric to ₱614.25 from ₱603.38, reflecting updated assumptions that include slightly softer revenue growth, a small improvement in profit margin, and a marginally higher future P/E of 14.92x. What's in the News Board meeting set for January 26, 2026, to review and approve the agenda and notice for the annual stockholders' meeting scheduled on June 30, 2026, at 10:00 a.m. (Key Developments) Directors will consider April 10, 2026, as the record date for determining stockholders entitled to receive notice of and vote at the June 30, 2026, annual stockholders' meeting.Narrative Update • Jan 12
MER: Smart Grid Rollout And Steady Metrics Will Support Fair Valuation
Analysts have lifted their fair value estimate for Manila Electric slightly, from ₱598.21 to about ₱603.38. This reflects refreshed views on its projected revenue growth, profit margins, and future P/E assumptions.Narrative Update • Dec 26
MER: Smart Grid Expansion Will Support Stable Margins And Fairly Valued Outlook
Analysts have maintained their price target for Manila Electric at PHP 598.21, as slightly softer long term revenue growth assumptions are seen as being offset by a modestly stronger profit margin outlook and an unchanged future valuation multiple. What's in the News A board meeting is set for December 3, 2025 to approve various rank conferments effective January 1, 2026 (Key Developments) A board meeting is scheduled on October 27, 2025 to approve Manila Electric's financial and operating results for the first nine months of 2025, with 2024 comparatives (Key Developments) An Itron collaboration has been announced to deploy Advanced Metering Infrastructure across Metro Manila, starting with 73,000 endpoints as part of Meralco's multi year smart grid modernization program (Key Developments) Valuation Changes Fair Value: Unchanged at approximately ₱598.21 per share, indicating a stable overall valuation outlook.Narrative Update • Dec 12
MER: Smart Grid Rollout Will Support Stable Outlook And Customer Experience
Narrative Update on Manila Electric Analysts have maintained their price target for Manila Electric at PHP 598.21 per share, reflecting unchanged assumptions on discount rate, revenue growth, profit margins, and future valuation multiples. This signals steady confidence in the company’s current earnings and growth outlook.Narrative Update • Nov 28
MER: Fair Value Maintained as Smart Grid Connectivity Set to Expand
Analysts have maintained their price target for Manila Electric at ₱598.21 per share, citing minimal changes in growth forecasts and stable profit margin expectations as the rationale for the steady outlook. What's in the News Manila Electric Company will hold a Board Meeting on October 27, 2025 to approve the Company's financial and operating results for the first nine months of 2025.Narrative Update • Nov 13
MER: Fair Value Supported as Smart Grid Rollout Poised to Advance
Narrative Update: Manila Electric Analyst Price Target Adjustment Analysts have maintained their fair value estimate for Manila Electric at ₱598.21 per share. They cite modest improvements in projected revenue growth and profit margin, which are balanced by a slightly higher discount rate and a marginally lower future price-to-earnings ratio.Narrative Update • Oct 30
MER: Smart Grid Modernization Will Drive Improved Customer Satisfaction And Energy Management
Analysts have raised the fair value estimate for Manila Electric from ₱588.56 to ₱598.21. This change is attributed to updated projections, even though growth and margin expectations have slightly moderated.Narrative Update • Sep 15
Large-scale Renewables And Grid Modernization Will Shape Future Growth
Manila Electric’s consensus revenue growth forecast has edged down slightly, while its future P/E remains stable, resulting in only a marginal increase in the analyst price target from ₱582.64 to ₱588.56. What's in the News Board approved cash dividends of PhP11.328 per share, payable to shareholders of record as of August 27, 2025.
New Narrative • Nov 25
Meralco's Expanding Network And Renewable Energy Innovations Power Growth Potential
Strong growth in sales volume and power generation, including renewable projects, is set to boost future revenues and operational margins.CEO
Manny Pangilinan (79 yo)
3yrs
Tenure
₱2,262,000
Compensation
Mr. Manuel Velez Pangilinan, also known as Manny, serves as Director since December 22, 2023 at Axelum Resources Corp. He has been Chairman of SP New Energy Corporation since 2023. He had been President an...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 3yrs | ₱2.26m | 0.0087% ₱ 60.5m | |
| CFO, Chief Risk Officer & Senior VP | 16.8yrs | no data | no data | |
| Executive VP & COO | 2.8yrs | no data | 0% ₱ 0 | |
| Senior Vice President & Chief Information Officer | 6.9yrs | no data | no data | |
| VP & Chief Investor Relations Officer | 1.8yrs | no data | no data | |
| SVP, Chief Legal Counsel | no data | no data | no data | |
| VP & Head of Corporate Communications | 5.4yrs | no data | 0.00092% ₱ 6.4m | |
| First VP | less than a year | no data | 0.000020% ₱ 139.3k | |
| First VP & Chief Sustainability Officer | 15yrs | no data | no data | |
| First VP and Head of DU Finance and Financial Planning & Reporting | 14.8yrs | no data | no data | |
| VP & Head of Utility Partnerships | 13.3yrs | no data | 0.0016% ₱ 11.4m | |
| SVP and Head of DU Subsidiaries & Strategic Partnerships | 13.3yrs | no data | 0.0014% ₱ 9.8m |
6.9yrs
Average Tenure
57.5yo
Average Age
Experienced Management: MER's management team is seasoned and experienced (6.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 17yrs | ₱2.26m | 0.0087% ₱ 60.5m | |
| Non Executive Director | 7yrs | ₱2.81m | 0.0026% ₱ 17.9m | |
| Independent Director | 16yrs | ₱3.40m | 0.00053% ₱ 3.7m | |
| Non-Executive Director | 17yrs | ₱2.34m | 0.0063% ₱ 43.9m | |
| Vice Chairman | 12.4yrs | ₱2.83m | 0.0030% ₱ 21.2m | |
| Director | 2.3yrs | ₱2.78m | 0.00059% ₱ 4.1m | |
| Non Executive Director | 14yrs | ₱3.20m | 0.016% ₱ 113.7m | |
| Non Executive Director | 12.4yrs | ₱3.13m | 0.019% ₱ 132.6m | |
| Independent Director | 5yrs | ₱3.08m | 0.0019% ₱ 13.0m | |
| Non-Executive Director | 3yrs | ₱3.05m | 0.00089% ₱ 6.2m | |
| Lead Independent Director | 18yrs | ₱2.61m | 0.0033% ₱ 23.1m |
12.4yrs
Average Tenure
73yo
Average Age
Experienced Board: MER's board of directors are seasoned and experienced ( 12.4 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/20 22:05 |
| End of Day Share Price | 2026/05/20 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Manila Electric Company is covered by 15 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Julian Vincent Roxas | BofA Global Research |
| Eunice Dolatre | CGS International |
| Jan Derrick Guarin | CLSA |