OTCPK:FPHH.F

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First Philippine Holdings

Executive Summary

First Philippine Holdings Corporation engages in the power generation business in the Philippines.


Snowflake Analysis

Undervalued with solid track record and pays a dividend.

Share Price & News

How has First Philippine Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

FPHH.F

0.4%

US Electric Utilities

1.1%

US Market


1 Year Return

-28.4%

FPHH.F

-3.1%

US Electric Utilities

4.6%

US Market

Return vs Industry: FPHH.F underperformed the US Electric Utilities industry which returned -4.1% over the past year.

Return vs Market: FPHH.F underperformed the US Market which returned 4.1% over the past year.


Shareholder returns

FPHH.FIndustryMarket
7 Day0%0.4%1.1%
30 Day0%-3.4%5.5%
90 Dayn/a-16.4%-4.9%
1 Year-28.4%-28.4%0.2%-3.1%7.0%4.6%
3 Year-29.3%-29.3%16.9%5.7%28.6%20.1%
5 Year-47.0%-47.0%55.1%30.1%52.5%35.3%

Price Volatility Vs. Market

How volatile is First Philippine Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FPHH.F ($1.06) is trading below our estimate of fair value ($17.08)

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


Price To Earnings Ratio

PE vs Industry: FPHH.F is good value based on its PE Ratio (2.2x) compared to the Electric Utilities industry average (19.5x).

PE vs Market: FPHH.F is good value based on its PE Ratio (2.2x) compared to the US market (15.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FPHH.F's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FPHH.F is good value based on its PB Ratio (0.3x) compared to the US Electric Utilities industry average (1.9x).


Next Steps

Future Growth

How is First Philippine Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

1.2%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if FPHH.F's forecast earnings growth is above the savings rate (2.2%).

Earnings vs Market: Insufficient data to determine if FPHH.F's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FPHH.F's revenue (1.2% per year) is forecast to grow slower than the US market (8.9% per year).

High Growth Revenue: FPHH.F's revenue (1.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FPHH.F's Return on Equity is forecast to be low in 3 years time (6.9%).


Next Steps

Past Performance

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

15.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FPHH.F has high quality earnings.

Growing Profit Margin: FPHH.F's current net profit margins (9.3%) are higher than last year (8.1%).


Past Earnings Growth Analysis

Earnings Trend: FPHH.F's earnings have grown by 15.9% per year over the past 5 years.

Accelerating Growth: FPHH.F's earnings growth over the past year (22.6%) exceeds its 5-year average (15.9% per year).

Earnings vs Industry: FPHH.F earnings growth over the past year (22.6%) exceeded the Electric Utilities industry 1.8%.


Return on Equity

High ROE: FPHH.F's Return on Equity (13.7%) is considered low.


Next Steps

Financial Health

How is First Philippine Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: FPHH.F's short term assets (PHP118.5B) exceed its short term liabilities (PHP70.3B).

Long Term Liabilities: FPHH.F's short term assets (PHP118.5B) do not cover its long term liabilities (PHP123.0B).


Debt to Equity History and Analysis

Debt Level: FPHH.F's debt to equity ratio (74%) is considered high.

Reducing Debt: FPHH.F's debt to equity ratio has reduced from 140.3% to 74% over the past 5 years.

Debt Coverage: FPHH.F's debt is well covered by operating cash flow (34.6%).

Interest Coverage: FPHH.F's interest payments on its debt are well covered by EBIT (6.7x coverage).


Balance Sheet


Next Steps

Dividend

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

3.75%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FPHH.F's dividend (3.79%) is higher than the bottom 25% of dividend payers in the US market (1.75%).

High Dividend: FPHH.F's dividend (3.79%) is low compared to the top 25% of dividend payers in the US market (4.73%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (8.3%), FPHH.F's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

4.6yrs

Average management tenure


CEO

Federico Lopez (58yo)

10yrs

Tenure

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 sinc ...


Leadership Team

NamePositionTenureCompensationOwnership
Federico Lopez
Chairman & CEO10yrsno data1% PHP5.4m
Francis Giles Puno
President9.17yrsno data0.60% PHP3.2m
Oscar Lopez
Chairman Emeritus & Chief Strategic Officer9.92yrsno data0.32% PHP1.7m
Emmanuel Antonio Singson
Senior VP4.58yrsno datano data
Ferdinand Poblete
VP & Chief Information Officer1yrno datano data
Oscar Lopez
Head of the Administration Group & VPno datano data0.0055% PHP29.5k
Emelita Sabella
VP & Investor Relations Officer2.33yrsno data0.064% PHP345.0k
Victor Emmanuel Santos
Senior VP & Compliance Officer2.33yrsno datano data
Anna Karina Gerochi
Head of the Human Resource Management Group & VP7.33yrsno data0.013% PHP67.1k
Richard Raymond Tantoco
Executive VP & Director2.17yrsno data0.083% PHP446.8k

4.6yrs

Average Tenure

55.5yo

Average Age

Experienced Management: FPHH.F's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Federico Lopez
Chairman & CEO10yrsno data1% PHP5.4m
Francis Giles Puno
President9.17yrsno data0.60% PHP3.2m
Oscar Lopez
Chairman Emeritus & Chief Strategic Officer9.92yrsno data0.32% PHP1.7m
Richard Raymond Tantoco
Executive VP & Director2.17yrsno data0.083% PHP446.8k
Juan Santos
Independent Director10.92yrsno datano data
Manuel Lopez
Vice Chairmanno datano datano data
Augusto Almeda-Lopez
Non-Executive Director34.33yrsno data0.034% PHP181.3k
Peter Garrucho
Non-Executive Director26.33yrsno data0.097% PHP519.0k
Ernesto Rufino
Non-Executive Director33.67yrsno data0.23% PHP1.2m
Artemio Panganiban
Lead Independent Directorno datano data0.00046% PHP2.5k

10.5yrs

Average Tenure

77.5yo

Average Age

Experienced Board: FPHH.F's board of directors are seasoned and experienced ( 10.5 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

First Philippine Holdings Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Philippine Holdings Corporation
  • Ticker: FPHH.F
  • Exchange: OTCPK
  • Founded: 1961
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: ₱27.110b
  • Listing Market Cap: ₱536.084m
  • Shares outstanding: 508.63m
  • Website: https://www.fphc.com

Number of Employees


Location

  • First Philippine Holdings Corporation
  • Rockwell Business Center
  • 6th Floor
  • Pasig
  • 1604
  • Philippines

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FPHPSE (Philippines Stock Exchange)YesCommon StockPHPHPJan 1986
FPHH.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1986
FPHPCPSE (Philippines Stock Exchange)PFD PHP100 SER'C'PHPHPJan 2015

Biography

First Philippine Holdings Corporation engages in the power generation business 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; operates cinema and hotels, as well as involved in the retail and office leasing activities; develops and manages industrial estate; and leases, owns, acquires, and sells real and personal properties, and land. 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 engages in the construction of power plants, transmission lines, public infrastructure, and electro-mechanical works; 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 crush 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, medical and research, education, financing, and others activities; 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/27 10:12
End of Day Share Price2020/05/20 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.