OTCPK:MPCI.Y

Stock Analysis Report

Executive Summary

Metro Pacific Investments Corporation, an investment holding company, develops infrastructure assets through its investments in water, toll roads, power generation and distribution, healthcare services, and light rail and logistics in the Philippines.

Rewards

Trading at 5.7% below its fair value

Earnings are forecast to grow 6.2% per year

Risk Analysis

Shares are highly illiquid

Unstable dividend track record



Snowflake Analysis

Good value average dividend payer.


Similar Companies

Share Price & News

How has Metro Pacific Investments's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MPCI.Y's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

MPCI.Y

-0.09%

US Diversified Financial

1.5%

US Market


1 Year Return

n/a

MPCI.Y

11.1%

US Diversified Financial

20.1%

US Market

Return vs Industry: Insufficient data to determine how MPCI.Y performed against the US Diversified Financial industry.

Return vs Market: Insufficient data to determine how MPCI.Y performed against the US Market.


Shareholder returns

MPCI.YIndustryMarket
7 Day0%-0.09%1.5%
30 Day-13.5%-1.1%1.4%
90 Dayn/a3.8%8.7%
1 Yearn/a11.3%11.1%22.7%20.1%
3 Yearn/a33.5%33.1%50.1%40.5%
5 Year-47.8%-50.0%50.1%49.5%73.1%54.1%

Price Volatility Vs. Market

How volatile is Metro Pacific Investments's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Metro Pacific Investments undervalued compared to its fair value and its price relative to the market?

5.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MPCI.Y ($12.01) is trading below our estimate of fair value ($12.73)

Significantly Below Fair Value: MPCI.Y is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MPCI.Y is good value based on its PE Ratio (7.2x) compared to the Diversified Financial industry average (9.4x).

PE vs Market: MPCI.Y is good value based on its PE Ratio (7.2x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: MPCI.Y is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: MPCI.Y is good value based on its PB Ratio (0.5x) compared to the US Diversified Financial industry average (0.8x).


Next Steps

Future Growth

How is Metro Pacific Investments forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

6.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MPCI.Y's forecast earnings growth (6.2% per year) is above the savings rate (1.7%).

Earnings vs Market: MPCI.Y's earnings (6.2% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: MPCI.Y's earnings are forecast to grow, but not significantly.

Revenue vs Market: MPCI.Y's revenue (4.1% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: MPCI.Y's revenue (4.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MPCI.Y's Return on Equity is forecast to be low in 3 years time (8.2%).


Next Steps

Past Performance

How has Metro Pacific Investments performed over the past 5 years?

11.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MPCI.Y has high quality earnings.

Growing Profit Margin: MPCI.Y's current net profit margins (15.2%) are lower than last year (18%).


Past Earnings Growth Analysis

Earnings Trend: MPCI.Y's earnings have grown by 11.8% per year over the past 5 years.

Accelerating Growth: MPCI.Y's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MPCI.Y had negative earnings growth (-7.3%) over the past year, making it difficult to compare to the Diversified Financial industry average (38%).


Return on Equity

High ROE: MPCI.Y's Return on Equity (8.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Metro Pacific Investments's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MPCI.Y has a low level of unsold assets or inventory.

Debt Coverage by Assets: MPCI.Y's debt is not covered by short term assets (assets are 0.3x debt).


Financial Institutions Analysis

Asset Level: MPCI.Y's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if MPCI.Y has a sufficient allowance for bad loans.

Low Risk Liabilities: MPCI.Y reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if MPCI.Y has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MPCI.Y has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if MPCI.Y has an appropriate level of bad loans.


Next Steps

Dividend

What is Metro Pacific Investments's current dividend yield, its reliability and sustainability?

3.60%

Current Dividend Yield


Dividend Yield vs Market

company3.6%marketbottom25%1.4%markettop25%3.7%industryaverage2.0%forecastin3Years3.8%

Current dividend yield vs market & industry

Notable Dividend: MPCI.Y's dividend (3.6%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: MPCI.Y's dividend (3.6%) is low compared to the top 25% of dividend payers in the US market (3.69%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (25.9%), MPCI.Y's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MPCI.Y's dividends in 3 years are forecast to be well covered by earnings (21.3% payout ratio).


Next Steps

Management

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

7.0yrs

Average management tenure


CEO

Jose Maria Lim (67yo)

16.7yrs

Tenure

0

Mr. Jose Maria K. Lim has been a Director at Maynilad Water Services Inc. since January 2007. He serves as Director in the following MPIC subsidiary and/or affiliate companies: Beacon Electric Asset Holdin ...


Leadership Team

NamePositionTenureCompensationOwnership
Jose Maria Lim
President16.7yrsno data0.086% PHP1.6m
David Nicol
Executive VP9.8yrsno data0.068% PHP1.3m
Joseph Lacson
Chief Investment Officer3.2yrsno datano data
Maricris Aldover-Ysmael
Vice President of Investor Relations4yrsno datano data
Ricardo Pilares
VP of Legal & Compliance officer5yrsno datano data
Melody del Rosario
Vice President of Public Relations & Corporate Communications13.9yrsno datano data
Loudette Maliksi-Zoilo
Vice President of Human Resources8yrsno datano data
Edward Tortorici
Executive Advisor13.9yrsno datano data
Jose Jesus Laurel
Corporate Governance Officer & Regular Director1.7yrsno datano data
Santhea delos Santos
Assistant VP & Chief Risk Officer6yrsno datano data

7.0yrs

Average Tenure

51.5yo

Average Age

Experienced Management: MPCI.Y's management team is seasoned and experienced (7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jose Maria Lim
President16.7yrsno data0.086% PHP1.6m
David Nicol
Executive VP9.8yrsno data0.068% PHP1.3m
Jose Jesus Laurel
Corporate Governance Officer & Regular Director1.7yrsno datano data
Manuel Pangilinan
Chairman13.9yrsno data0.032% PHP607.4k
Albert Del Rosario
Regular Director3.8yrsno data0.047% PHP900.3k
Christopher Huxley Young
Non-Executive Director0.9yrsno datano data
Edward Go
Independent Director13.6yrsno data0.0054% PHP103.1k
Alfred Ty
Vice-Chairman of the Board1.9yrsno data0.0019% PHP36.4k
Lydia R. Balatbat-Echauz
Independent Director10.3yrsno data0.0083% PHP159.7k
Artemio Panganiban
Lead Independent Director0yrsno data0.0051% PHP97.2k

9.8yrs

Average Tenure

69yo

Average Age

Experienced Board: MPCI.Y's board of directors are considered experienced (9.8 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

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


Top Shareholders

Company Information

Metro Pacific Investments Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Metro Pacific Investments Corporation
  • Ticker: MPCI.Y
  • Exchange: OTCPK
  • Founded: 1986
  • Industry: Multi-Sector Holdings
  • Sector: Diversified Financials
  • Market Cap: ₱96.918b
  • Listing Market Cap: ₱1.917b
  • Shares outstanding: 31.57b
  • Website: https://www.mpic.com.ph

Location

  • Metro Pacific Investments Corporation
  • MGO Building
  • 10th Floor
  • Makati City
  • 721
  • Philippines

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MPIPSE (Philippines Stock Exchange)YesCommon SharesPHPHPDec 2006
MPCF.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDDec 2006
MPCI.YOTCPK (Pink Sheets LLC)SPON ADR LEV 1USUSDAug 2012

Biography

Metro Pacific Investments Corporation, an investment holding company, develops infrastructure assets through its investments in water, toll roads, power generation and distribution, healthcare services, and light rail and logistics in the Philippines. It operates through Power, Toll Operations, Water, Healthcare, Rail, Logistics, and Others segments. The company provides water and sewerage services through a network of pipelines, pumping stations, and mini-boosters in the West Service Area of Metro Manila; and operates a network of approximately 7,691 kilometers of total pipelines. It constructs, operates, and maintains the North Luzon Expressway (NLEX) that covers approximately 89 kilometers and services an average of 250,000 vehicles per day; manages, operates, and maintains the Subic-Clark-Tarlac Expressway; constructs, operates, and maintains the NLEX-SLEX connector road; operates and maintains the Manila-Cavite Toll Expressway; designs, finances, constructs, operates, and maintains the 47-km Cavite Laguna Expressway; and constructs, operates, and maintains the Cebu-Cordova Link Expressway. The company also constructs, operates, and maintains electric distribution systems in 36 cities and 75 municipalities serving 6 million customers; owns and operates power plants; and operates and manages 14 hospitals with 3,000 beds, as well as nursing colleges and other related enterprises. Further, the company operates and maintains the light rail transit line and real estate properties; and provides construction, electromechanical engineering, electronic toll collection, facilities management, waste management, clinic management, telecoms, insurance and re-insurance, e-business development, laundry, e-transaction and bill collection, and consulting and related manpower services. Additionally, it is involved in the property development, trading, port management, and school operations. The company was founded in 1986 and is headquartered in Makati City, the Philippines. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 01:28
End of Day Share Price2020/02/10 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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 here.