OTCPK:AYAA.F

Stock Analysis Report

Executive Summary

Ayala Land, Inc. engages in the real estate development business in the Philippines.


Snowflake Analysis

Proven track record with adequate balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has Ayala Land's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AYAA.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

29.6%

AYAA.F

-1.6%

US Real Estate

-1.1%

US Market


1 Year Return

n/a

AYAA.F

6.5%

US Real Estate

17.9%

US Market

Return vs Industry: Insufficient data to determine how AYAA.F performed against the US Real Estate industry.

Return vs Market: Insufficient data to determine how AYAA.F performed against the US Market.


Shareholder returns

AYAA.FIndustryMarket
7 Day29.6%-1.6%-1.1%
30 Day32.9%1.5%1.4%
90 Day16.0%7.4%6.9%
1 Yearn/a7.4%6.5%20.3%17.9%
3 Year50.0%50.0%27.7%24.6%47.8%38.3%
5 Yearn/a15.0%11.2%71.9%53.0%

Price Volatility Vs. Market

How volatile is Ayala Land's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Ayala Land undervalued compared to its fair value and its price relative to the market?

18.76x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AYAA.F ($1.05) is trading above our estimate of fair value ($0.2)

Significantly Below Fair Value: AYAA.F is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AYAA.F is good value based on its PE Ratio (18.8x) compared to the Real Estate industry average (22.8x).

PE vs Market: AYAA.F is poor value based on its PE Ratio (18.8x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: AYAA.F is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: AYAA.F is overvalued based on its PB Ratio (3x) compared to the US Real Estate industry average (1.4x).


Next Steps

Future Growth

How is Ayala Land forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

12.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AYAA.F's forecast earnings growth (12.4% per year) is above the savings rate (1.7%).

Earnings vs Market: AYAA.F's earnings (12.4% per year) are forecast to grow slower than the US market (14.1% per year).

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

Revenue vs Market: AYAA.F's revenue (11.8% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: AYAA.F's revenue (11.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AYAA.F's Return on Equity is forecast to be low in 3 years time (16.4%).


Next Steps

Past Performance

How has Ayala Land performed over the past 5 years?

16.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AYAA.F has high quality earnings.

Growing Profit Margin: AYAA.F's current net profit margins (19.8%) are higher than last year (17.8%).


Past Earnings Growth Analysis

Earnings Trend: AYAA.F's earnings have grown by 16.2% per year over the past 5 years.

Accelerating Growth: AYAA.F's earnings growth over the past year (13.7%) is below its 5-year average (16.2% per year).

Earnings vs Industry: AYAA.F earnings growth over the past year (13.7%) exceeded the Real Estate industry -31.1%.


Return on Equity

High ROE: AYAA.F's Return on Equity (15.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Ayala Land's financial position?


Financial Position Analysis

Short Term Liabilities: AYAA.F's short term assets (PHP271.0B) exceed its short term liabilities (PHP207.7B).

Long Term Liabilities: AYAA.F's short term assets (PHP271.0B) exceed its long term liabilities (PHP235.4B).


Debt to Equity History and Analysis

Debt Level: AYAA.F's debt to equity ratio (76.5%) is considered high.

Reducing Debt: AYAA.F's debt to equity ratio has reduced from 102% to 76.5% over the past 5 years.

Debt Coverage: AYAA.F's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: AYAA.F's interest payments on its debt are well covered by EBIT (4.9x coverage).


Balance Sheet

Inventory Level: AYAA.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: AYAA.F's debt is covered by short term assets (assets are 1.5x debt).


Next Steps

Dividend

What is Ayala Land's current dividend yield, its reliability and sustainability?

1.27%

Current Dividend Yield


Dividend Yield vs Market

company1.3%marketbottom25%1.4%markettop25%3.7%industryaverage2.3%forecastin3Years1.8%

Current dividend yield vs market & industry

Notable Dividend: AYAA.F's dividend (1.27%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: AYAA.F's dividend (1.27%) is low compared to the top 25% of dividend payers in the US market (3.73%).


Stability and Growth of Payments

Stable Dividend: AYAA.F's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (23.1%), AYAA.F's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AYAA.F's dividends in 3 years are forecast to be well covered by earnings (26.7% payout ratio).


Next Steps

Management

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

4.1yrs

Average management tenure


CEO

Bobby Dy (56yo)

5.8yrs

Tenure

0

Mr. Vincent Olmedo Dy, also known as Bobby, has been the Chief Executive Officer and President of Ayala Land, Inc. since April 7, 2014 and served as Chief Operating Officer & Group Head of Ayala Malls. Mr. ...


Leadership Team

NamePositionTenureCompensationOwnership
Bernard Vincent Dy
President5.8yrsno data0.10% PHP12.6m
Augusto Cesar Bengzon
Senior VP2.8yrsno data0.019% PHP2.4m
Amelia Alipao
Chief Information Officer0yrsno data0.010% PHP1.3m
Michael Anthony Garcia
Head for Investor Communications & Compliance Division0yrsno datano data
Solomon Hermosura
Group General Counsel & Corporate Secretary4.8yrsno datano data
Eliezer Tanlapco
VP & Group Head of Human Resources and Public Affairs0yrsno data0.0020% PHP239.5k
Jaime Ysmael
Senior Vice President1.8yrsno data0.061% PHP7.4m
Jose Emmanuel Jalandoni
Group Head of Commercial Business & Senior VP0yrsno data0.047% PHP5.7m
Maria Corazon Dizon
Head of Ali Capital Corporation0yrsno datano data
Dante Abando
Senior VP & President of Makati Development Corporation4.1yrsno data0.035% PHP4.2m

4.1yrs

Average Tenure

56yo

Average Age

Experienced Management: AYAA.F's management team is considered experienced (4.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Bernard Vincent Dy
President5.8yrsno data0.10% PHP12.6m
Delfin Lazaro
Non-Executive Director23.8yrsno datano data
Fernando Zobel de Ayala
Chairman of the Board20.8yrsno data0.0012% PHP151.5k
Jaime Zobel de Ayala
Vice Chairman of the Board31.7yrsno data0.000080% PHP9.8k
Arturo Corpuz
Non-Executive Director3.8yrsno data0.040% PHP4.9m
Antonino Aquino
Non-Executive Director10.8yrsno data0.14% PHP16.9m
Jaime Laya
Lead Independent Director2.8yrsno data0.000070% PHP8.6k
Rizalina Mantaring
Independent Director5.8yrsno datano data
Cesar Purisima
Independent Director1.8yrsno datano data

5.8yrs

Average Tenure

60yo

Average Age

Experienced Board: AYAA.F's board of directors are considered experienced (5.8 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Ayala Land, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ayala Land, Inc.
  • Ticker: AYAA.F
  • Exchange: OTCPK
  • Founded: 1834
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: ₱621.918b
  • Listing Market Cap: ₱12.218b
  • Shares outstanding: 14.72b
  • Website: https://www.ayalaland.com.ph

Number of Employees


Location

  • Ayala Land, Inc.
  • Tower One and Exchange Plaza
  • 31st Floor
  • Makati City
  • 1226
  • Philippines

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AYAA.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDSep 1997
ALIPSE (Philippines Stock Exchange)YesCommon SharesPHPHPSep 1997
AYAA.YOTCPK (Pink Sheets LLC)ADRUSUSDMay 2014

Biography

Ayala Land, Inc. engages in the real estate development business in the Philippines. It operates through Property developments, International, Shopping centers, Offices, Hotels and Resorts, Construction, and Property management and others segments. The company sells of high-end and upper middle-income residential lots and units, affordable housing units and lots, economic housing and leisure community developments; leases residential developments under joint venture; and acquires, develops, and sells large-scale, mixed-use, and planned communities. It also develops shopping centers, and leases retail space and land to third parties; operates movie theaters, food courts, entertainment facilities, gas stations, and car parking in shopping centers; develops and sells office buildings; and sells industrial lots and leases factory building. In addition, it develops and manages hotels and resorts/serviced apartments; leases land to hotel tenants; and constructs and manages third-party projects. The company was founded in 1834 and is based in Makati City, the Philippines. Ayala Land, Inc. is a subsidiary of Ayala Corporation. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 00:40
End of Day Share Price2020/02/20 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.