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First Philippine Holdings

OTCPK:FPHH.F
Snowflake Description

Undervalued with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FPHH.F
OTCPK
PHP40B
Market Cap
  1. Home
  2. US
  3. Utilities
Company description

First Philippine Holdings Corporation engages in the power generation, real estate development, manufacturing, construction service, and other businesses in the Philippines. The last earnings update was 13 days ago. More info.


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FPHH.F Share Price and Events
7 Day Returns
-6.7%
OTCPK:FPHH.F
1.8%
US Electric Utilities
-1.4%
US Market
1 Year Returns
21.7%
OTCPK:FPHH.F
16.5%
US Electric Utilities
1.6%
US Market
FPHH.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Philippine Holdings (FPHH.F) -6.7% -6.7% - 21.7% 0% -17.6%
US Electric Utilities 1.8% 2.1% 4.6% 16.5% 21.1% 39.3%
US Market -1.4% -3.9% 0.1% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • FPHH.F outperformed the Electric Utilities industry which returned 16.5% over the past year.
  • FPHH.F outperformed the Market in United States of America which returned 1.6% over the past year.
Price Volatility
FPHH.F
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for First Philippine Holdings's competitors could be found in our database.

FPHH.F Value

 Is First Philippine Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Philippine Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Philippine Holdings.

OTCPK:FPHH.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:FPHH.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.24
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.236 (1 + (1- 30%) (361.6%))
0.889
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.889 * 5.96%)
8.03%

Discounted Cash Flow Calculation for OTCPK:FPHH.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for First Philippine Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:FPHH.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PHP, Millions) Source Present Value
Discounted (@ 8.03%)
2019 40,411.67 Est @ 9.04% 37,408.84
2020 43,298.79 Est @ 7.14% 37,103.13
2021 45,818.77 Est @ 5.82% 36,345.09
2022 48,060.68 Est @ 4.89% 35,290.65
2023 50,100.42 Est @ 4.24% 34,054.82
2024 51,999.16 Est @ 3.79% 32,719.07
2025 53,804.53 Est @ 3.47% 31,339.41
2026 55,552.82 Est @ 3.25% 29,953.36
2027 57,271.36 Est @ 3.09% 28,585.41
2028 58,980.61 Est @ 2.98% 27,251.07
Present value of next 10 years cash flows PHP330,050.86
OTCPK:FPHH.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PHP58,980.61 × (1 + 2.73%) ÷ (8.03% – 2.73%)
PHP1,143,856.37
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PHP1,143,856.37 ÷ (1 + 8.03%)10
PHP528,501.04
OTCPK:FPHH.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PHP330,050.86 + PHP528,501.04
PHP858,551.90
Equity Value per Share
(PHP)
= Total value / Shares Outstanding
= PHP858,551.90 / 526.41
PHP1630.95
OTCPK:FPHH.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:FPHH.F represents 0.0183x of PSE:FPH
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.0183x
Value per Share
(Listing Adjusted, USD)
= Value per Share (PHP) x Listing Adjustment Factor
= PHP 1,630.95 x 0.0183
$29.85
Value per share (USD) From above. $29.85
Current discount Discount to share price of $1.40
= -1 x ($1.40 - $29.85) / $29.85
95.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price First Philippine Holdings is available for.
Intrinsic value
>50%
Share price is $1.4 vs Future cash flow value of $29.85
Current Discount Checks
For First Philippine Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • First Philippine Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • First Philippine Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Philippine Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Philippine Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:FPHH.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PHP PHP21.99
PSE:FPH Share Price ** PSE (2019-05-24) in PHP PHP76.5
United States of America Electric Utilities Industry PE Ratio Median Figure of 26 Publicly-Listed Electric Utilities Companies 22.09x
United States of America Market PE Ratio Median Figure of 3,086 Publicly-Listed Companies 17.45x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Philippine Holdings.

OTCPK:FPHH.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= PSE:FPH Share Price ÷ EPS (both in PHP)

= 76.5 ÷ 21.99

3.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Philippine Holdings is good value based on earnings compared to the US Electric Utilities industry average.
  • First Philippine Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Philippine Holdings's expected growth come at a high price?
Raw Data
OTCPK:FPHH.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
11.9%per year
United States of America Electric Utilities Industry PEG Ratio Median Figure of 23 Publicly-Listed Electric Utilities Companies 3.11x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for First Philippine Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on First Philippine Holdings's assets?
Raw Data
OTCPK:FPHH.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PHP PHP188.87
PSE:FPH Share Price * PSE (2019-05-24) in PHP PHP76.5
United States of America Electric Utilities Industry PB Ratio Median Figure of 29 Publicly-Listed Electric Utilities Companies 2.1x
United States of America Market PB Ratio Median Figure of 5,208 Publicly-Listed Companies 1.8x
OTCPK:FPHH.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= PSE:FPH Share Price ÷ Book Value per Share (both in PHP)

= 76.5 ÷ 188.87

0.41x

* Primary Listing of First Philippine Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Philippine Holdings is good value based on assets compared to the US Electric Utilities industry average.
X
Value checks
We assess First Philippine Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check)
  5. First Philippine Holdings has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FPHH.F Future Performance

 How is First Philippine Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover First Philippine Holdings, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Philippine Holdings expected to grow at an attractive rate?
  • First Philippine Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Philippine Holdings's earnings growth is positive but not above the United States of America market average.
  • Unable to compare First Philippine Holdings's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:FPHH.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:FPHH.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 11.9%
United States of America Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 8.3%
United States of America Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:FPHH.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in PHP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:FPHH.F Past Financials Data
Date (Data in PHP Millions) Revenue Cash Flow Net Income *
2019-03-31 130,594 47,979 11,930
2018-12-31 125,389 43,545 10,182
2018-09-30 118,134 20,802 8,168
2018-06-30 112,082 21,376 7,224
2018-03-31 107,015 22,521 5,882
2017-12-31 104,890 30,159 5,755
2017-09-30 104,228 32,771 5,461
2017-06-30 99,250 41,520 8,838
2017-03-31 94,624 38,611 9,704
2016-12-31 91,910 36,138 9,834
2016-09-30 90,905 38,213 10,568
2016-06-30 92,230 24,867 5,998

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Philippine Holdings's earnings are expected to grow by 11.9% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if First Philippine Holdings is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:FPHH.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from First Philippine Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FPHH.F Past Financials Data
Date (Data in PHP Millions) EPS *
2019-03-31 21.99
2018-12-31 18.57
2018-09-30 14.84
2018-06-30 13.07
2018-03-31 10.63
2017-12-31 10.38
2017-09-30 9.85
2017-06-30 15.95
2017-03-31 17.51
2016-12-31 17.75
2016-09-30 19.08
2016-06-30 10.83

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if First Philippine Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess First Philippine Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Philippine Holdings has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FPHH.F Past Performance

  How has First Philippine Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Philippine Holdings's growth in the last year to its industry (Electric Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Philippine Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • First Philippine Holdings's 1-year earnings growth exceeds its 5-year average (102.8% vs 15.8%)
  • First Philippine Holdings's earnings growth has exceeded the US Electric Utilities industry average in the past year (102.8% vs 9.7%).
Earnings and Revenue History
First Philippine Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Philippine Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FPHH.F Past Revenue, Cash Flow and Net Income Data
Date (Data in PHP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 130,594.00 11,930.00 15,762.00
2018-12-31 125,389.00 10,182.00 15,340.00
2018-09-30 118,134.00 8,168.00 13,681.00
2018-06-30 112,082.00 7,224.00 13,357.00
2018-03-31 107,015.00 5,882.00 13,208.00
2017-12-31 104,890.00 5,755.00 13,230.00
2017-09-30 104,228.00 5,461.00 12,965.00
2017-06-30 99,250.00 8,838.00 12,922.00
2017-03-31 94,624.00 9,704.00 12,752.00
2016-12-31 91,910.00 9,834.00 12,615.00
2016-09-30 90,905.00 10,568.00 13,354.00
2016-06-30 92,230.00 5,998.00 13,356.00
2016-03-31 93,956.00 5,613.00 13,784.00
2015-12-31 96,510.00 5,307.00 13,652.00
2015-09-30 96,065.00 4,557.00 14,255.00
2015-06-30 99,803.00 6,054.00 14,083.00
2015-03-31 101,404.00 6,710.00 13,626.00
2014-12-31 99,301.00 5,582.00 13,676.00
2014-09-30 99,669.00 4,777.00 12,606.00
2014-06-30 95,697.00 3,999.00 12,189.00
2014-03-31 94,083.00 2,404.00 11,777.00
2013-12-31 93,057.00 2,936.00 10,938.00
2013-09-30 91,892.00 782.00 10,238.00
2013-06-30 94,537.00 191.00 11,071.00
2013-03-31 96,513.00 5,471.00 11,469.00
2012-12-31 97,464.00 14,267.00 10,807.00
2012-09-30 94,068.00 12,405.00 8,446.00
2012-06-30 89,370.00 12,465.00 6,693.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Philippine Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Philippine Holdings used its assets less efficiently than the US Electric Utilities industry average last year based on Return on Assets.
  • First Philippine Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess First Philippine Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Philippine Holdings has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FPHH.F Health

 How is First Philippine Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up First Philippine Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • First Philippine Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • First Philippine Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of First Philippine Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Philippine Holdings Company Filings, last reported 1 month ago.

OTCPK:FPHH.F Past Debt and Equity Data
Date (Data in PHP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 170,782.00 145,617.00 45,549.00
2018-12-31 166,259.00 150,710.00 40,824.00
2018-09-30 176,246.00 160,104.00 47,594.00
2018-06-30 175,736.00 158,813.00 49,206.00
2018-03-31 170,883.00 160,692.00 49,876.00
2017-12-31 166,904.00 157,189.00 48,170.00
2017-09-30 161,471.00 173,105.00 65,383.00
2017-06-30 144,704.00 174,011.00 52,383.00
2017-03-31 145,506.00 162,937.00 43,352.00
2016-12-31 141,021.00 164,341.00 38,110.00
2016-09-30 140,265.00 170,351.00 49,457.00
2016-06-30 133,068.00 167,678.00 43,609.00
2016-03-31 131,741.00 169,059.00 47,442.00
2015-12-31 127,455.00 171,771.00 47,780.00
2015-09-30 123,892.00 172,078.00 48,767.00
2015-06-30 124,006.00 164,572.00 49,168.00
2015-03-31 121,530.00 174,002.00 61,717.00
2014-12-31 116,648.00 163,646.00 51,735.00
2014-09-30 116,246.00 159,536.00 58,509.00
2014-06-30 111,578.00 142,982.00 47,147.00
2014-03-31 107,732.00 148,661.00 54,637.00
2013-12-31 104,674.00 149,204.00 55,783.00
2013-09-30 109,808.00 127,102.00 43,488.00
2013-06-30 110,085.00 123,060.00 36,641.00
2013-03-31 115,614.00 113,833.00 38,491.00
2012-12-31 109,229.00 116,761.00 38,767.00
2012-09-30 94,020.00 58,789.00 26,102.00
2012-06-30 94,404.00 59,671.00 26,067.00
  • First Philippine Holdings's level of debt (85.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (137.9% vs 85.3% today).
  • Debt is well covered by operating cash flow (32.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.6x coverage).
X
Financial health checks
We assess First Philippine Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Philippine Holdings has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FPHH.F Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.61%
Current annual income from First Philippine Holdings dividends.
If you bought $2,000 of First Philippine Holdings shares you are expected to receive $52 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Philippine Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • First Philippine Holdings's dividend is below the markets top 25% of dividend payers in United States of America (3.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:FPHH.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 27 Stocks 3.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:FPHH.F Past Annualized Dividends Data
Date (Data in PHP) Dividend per share (annual) Avg. Yield (%)
2019-05-14 2.000 2.609
2018-11-08 2.000 2.792
2018-05-03 2.000 3.160
2017-11-09 2.000 3.166
2017-05-04 2.000 2.931
2016-11-03 2.000 2.843
2016-05-03 2.000 2.871
2015-11-05 2.000 3.157
2015-04-08 2.000 2.554
2014-11-06 2.000 2.105
2014-05-08 2.000 2.556
2013-11-07 2.000 3.137
2013-05-03 2.000 2.440
2012-11-08 2.000 1.993
2012-05-03 2.000 2.668
2012-03-29 2.000 3.096
2011-11-14 2.000 3.291
2011-03-03 2.000 3.431
2010-11-15 2.000 3.288
2010-08-16 2.000 3.069
2010-05-06 1.000 1.803

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, First Philippine Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but First Philippine Holdings only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of First Philippine Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (11x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess First Philippine Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Philippine Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Philippine Holdings has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FPHH.F Management

 What is the CEO of First Philippine Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Federico Lopez
AGE 57
TENURE AS CEO 9 years
CEO Bio

Mr. Federico R. Lopez has been the Chief Executive Officer of First Philippine Holdings Corporation since May 31, 2010. Mr. Lopez has been the Chief Executive Officer of Energy Development Corporation since July 29, 2010. He serves as Chief Executive Officer at First Gas Power Corporation. He has been a Treasurer of Lopez Holdings Corporation since June 10, 2010. He has been the Chief Executive Officer of First Philippine Holdings Corporation since June 12, 2010. He has been Director of Energy Development Corporation since November 29, 2007. He has been the Chief Executive Officer of First Gen Corporation since February 2008 and served as its President since 2002 to June 2010. He has been an Executive Director at FG Bukidnon Power Corp. since 1998. He served as Senior Vice President of First First Philippine Holdings Corporation, since December 2007 and served as its Managing Director of Energy since February 2008. He served as an Assistant Treasurer of First Philippine Holdings Corporation since 1993. He served as an Executive Vice President of Regulatory Management at Lopez Holdings Corporation from January 2001 to June 2010. He served as the President and Chief Operating Officer at First Generation Holdings Corporation and all of the holding company's First Gas subsidiaries since 2002. He served as the President of First Philippine Conservation, Inc. and Emphasis Salon Systems, Inc. He served as Vice President of First Philippine Holdings Corporation since September 1992. He oversaw the development, financing and implementation of its energy-related projects. Over eight years, he has been involved in the financing and development of the Sta. Rita 1000 MW project (now in commercial operations) as well as the 500 MW San Lorenzo Project. He served as the Chief Operating Officer of First Gen Corporation from 2003 to February 2008. He served as Vice President of First Philippine Holdings Corporation since 1993. He has been the Chairman of First Philippine Holdings Corp. and First Gen Corporation since June 12, 2010. He serves as Chairman of Energy Development Corporation and First Gas Power Corporation. He serves as a Director of First Gen Hydro Power Corporation. He serves as a Director of First Philippine Industrial Park, Inc. and Securities Transfer Services, Inc. He serves as a Director at Bauang Private Power Corporation, First Philippine Energy Corporation. He has been a Vice Chairman and Director of Rockwell Land Corporation since August 2012 and First Philippine Holdings Corporation since February 9, 2006, ABS-CBN Corporation (Also known as: ABS-CBN Broadcasting Corp.) since August 25, 1999, Energy Development Corporation since December 29, 2007 and First Gen Corporation since December 1998. He served as a Director of NLEX Corp. He serves as a Trustee of the Hands on Manila Foundation. He served as a Director of First Private Power Corp. Mr. Lopez holds a Bachelor of Arts in Economics and International Relations at University of Pennsylvania in 1983.

CEO Compensation
  • Insufficient data for Federico to compare compensation growth.
  • Insufficient data for Federico to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Philippine Holdings management team in years:

3.6
Average Tenure
54.5
Average Age
  • The tenure for the First Philippine Holdings management team is about average.
Management Team

Federico Lopez

TITLE
Chairman & CEO
AGE
57
TENURE
9 yrs

Francis Giles Puno

TITLE
President
AGE
54
TENURE
3.6 yrs

Oscar Lopez

TITLE
Chairman Emeritus & Chief Strategic Officer
AGE
88

Emmanuel Antonio Singson

TITLE
Senior VP
AGE
53
TENURE
3.6 yrs

Ferdi Poblete

TITLE
VP & Chief Information Officer
AGE
56

Oscar Lopez

TITLE
Head of the Administration Group & VP
AGE
59

Emelita Sabella

TITLE
VP & Investor Relations Officer
AGE
55
TENURE
1.3 yrs

Victor Emmanuel Santos

TITLE
Senior VP & Compliance Officer
AGE
51
TENURE
1.3 yrs

Anna Karina Gerochi

TITLE
Head of the Human Resource Management Group & VP
AGE
51
TENURE
6.3 yrs

Richard Raymond Tantoco

TITLE
Executive VP & Director
AGE
52
Board of Directors Tenure

Average tenure and age of the First Philippine Holdings board of directors in years:

9.5
Average Tenure
76.5
Average Age
  • The tenure for the First Philippine Holdings board of directors is about average.
Board of Directors

Manuel Lopez

TITLE
Vice Chairman
AGE
76

Federico Lopez

TITLE
Chairman & CEO
AGE
57
TENURE
9 yrs

Francis Giles Puno

TITLE
President
AGE
54
TENURE
8.2 yrs

Oscar Lopez

TITLE
Chairman Emeritus & Chief Strategic Officer
AGE
88
TENURE
8.9 yrs

Richard Raymond Tantoco

TITLE
Executive VP & Director
AGE
52
TENURE
1.2 yrs

Augusto Almeda-Lopez

TITLE
Non-Executive Director
AGE
90
TENURE
33.3 yrs

Artemio Panganiban

TITLE
Lead Independent Director
AGE
82

Johnny Santos

TITLE
Independent Director
AGE
79
TENURE
9.9 yrs

Ernesto Rufino

TITLE
Non-Executive Director
AGE
77
TENURE
32.7 yrs

Peter Garrucho

TITLE
Non-Executive Director
AGE
74
TENURE
25.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
03. Jul 18 Buy Denardo Cuayo Individual 29. Jun 18 29. Jun 18 8,000 $1.18 $9,380
X
Management checks
We assess First Philippine Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Philippine Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FPHH.F News

Simply Wall St News

FPHH.F Company Info

Description

First Philippine Holdings Corporation engages in the power generation, real estate development, manufacturing, construction service, and other businesses in the Philippines. The company operates through Power Generation, Real Estate Development, Manufacturing, and Construction and Others Services segments. It generates power through natural gas-fired, hydroelectric, geothermal, and wind and solar power plants. The company develops residential and commercial projects; develops and manages industrial estate; and leases, owns, acquires, and sells real and personal properties. It also manufactures current, dry-type, and small kilo-volt ampere distribution transformers; distribution and power transformers, automatic voltage regulators, and special line equipment, as well as offers technical services. In addition, the company constructs power plants, transmission lines, and public infrastructure; undertakes electromechanical works for industrial plants and related activities; provides services for the drilling and workover of exploratory or development geothermal wells; rents and leases trucks, tractors, vans, buses, trailers, and light and heavy equipment for use in transportation, construction, and related services; and produces concrete aggregates and other related products. Further, it is involved in the hauling, trucking, and delivery of various goods and materials; quarrying and production of rocks, stones, and other related products; oil transporting, securities transfer, healthcare, education, financing, and others activities; hotel and cinema operation; electrical business; and constructs and operates liquid or gas pipeline. The company was formerly known as Meralco Securities Corporation and changed its name to First Philippine Holdings Corporation in September 1972. The company was founded in 1961 and is based in Pasig, the Philippines. First Philippine Holdings Corporation is a subsidiary of Lopez, Inc.

Details
Name: First Philippine Holdings Corporation
FPHH.F
Exchange: OTCPK
Founded: 1961
PHP772,205,235
526,411,804
Website: http://www.fphc.com
Address: First Philippine Holdings Corporation
Rockwell Business Center,
6th Floor,
Pasig,
1604,
Philippines
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
PSE FPH Common Stock Philippines Stock Exchange PH PHP 02. Jan 1986
OTCPK FPHH.F Common Stock Pink Sheets LLC US USD 02. Jan 1986
PSE FPHPC PFD PHP100 SER'C' Philippines Stock Exchange PH PHP 21. Jan 2015
Number of employees
Current staff
Staff numbers
0
First Philippine Holdings employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/27 00:12
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/05/14
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.