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Manila Water Company

OTCPK:MWTC.Y
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MWTC.Y
OTCPK
PHP59B
Market Cap
  1. Home
  2. US
  3. Utilities
Company description

Manila Water Company, Inc., together with its subsidiaries, provides water treatment, water distribution, sewerage, and sanitation services to residential, commercial, industrial, and semi-business customers in the Philippines and internationally. The last earnings update was 69 days ago. More info.


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MWTC.Y Share Price and Events
7 Day Returns
0%
OTCPK:MWTC.Y
-0.1%
US Water Utilities
-1.2%
US Market
1 Year Returns
-
OTCPK:MWTC.Y
22.8%
US Water Utilities
3.3%
US Market
MWTC.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Manila Water Company (MWTC.Y) 0% - - - - -17.9%
US Water Utilities -0.1% -1.1% 8.7% 22.8% 36.8% 113.4%
US Market -1.2% 0.8% 0.9% 3.3% 35.9% 41.7%
1 Year Return vs Industry and Market
  • No trading data on MWTC.Y.
  • No trading data on MWTC.Y.
Price Volatility
MWTC.Y
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Manila Water Company's competitors could be found in our database.

Value

 Is Manila Water Company 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 Manila Water Company 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 Manila Water Company.

OTCPK:MWTC.Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
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:MWTC.Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Water Utilities Unlevered Beta Simply Wall St/ S&P Global 0.35
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.348 (1 + (1- 30%) (84.04%))
0.701
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for OTCPK:MWTC.Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Manila Water Company 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:MWTC.Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PHP, Millions) Source Present Value
Discounted (@ 7.5%)
2020 -14.80 Analyst x2 -13.77
2021 1,881.30 Analyst x2 1,628.01
2022 1,847.92 Est @ -1.77% 1,487.59
2023 1,840.11 Est @ -0.42% 1,377.98
2024 1,849.74 Est @ 0.52% 1,288.57
2025 1,871.66 Est @ 1.19% 1,212.90
2026 1,902.51 Est @ 1.65% 1,146.90
2027 1,940.05 Est @ 1.97% 1,087.95
2028 1,982.73 Est @ 2.2% 1,034.33
2029 2,029.51 Est @ 2.36% 984.89
Present value of next 10 years cash flows PHP11,235.35
OTCPK:MWTC.Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= PHP2,029.51 × (1 + 2.73%) ÷ (7.5% – 2.73%)
PHP43,727.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PHP43,727.18 ÷ (1 + 7.5%)10
PHP21,220.11
OTCPK:MWTC.Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PHP11,235.35 + PHP21,220.11
PHP32,455.46
Equity Value per Share
(PHP)
= Total value / Shares Outstanding
= PHP32,455.46 / 2,427.24
PHP13.37
OTCPK:MWTC.Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:MWTC.Y represents 0.49388x of PSE:MWC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.49388x
Value per Share
(Listing Adjusted, USD)
= Value per Share (PHP) x Listing Adjustment Factor
= PHP 13.37 x 0.49388
$6.60
Value per share (USD) From above. $6.60
Current discount Discount to share price of $12.10
= -1 x ($12.10 - $6.60) / $6.60
-83.2%

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

  • The current share price of Manila Water Company is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Manila Water Company's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Manila Water Company's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:MWTC.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PHP PHP2.50
PSE:MWC Share Price ** PSE (2019-07-08) in PHP PHP24.5
United States of America Water Utilities Industry PE Ratio Median Figure of 14 Publicly-Listed Water Utilities Companies 35.42x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.86x

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

** Primary Listing of Manila Water Company.

OTCPK:MWTC.Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 24.5 ÷ 2.50

9.8x

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

  • Manila Water Company is good value based on earnings compared to the US Water Utilities industry average.
  • Manila Water Company is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Manila Water Company's expected growth come at a high price?
Raw Data
OTCPK:MWTC.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
15.5%per year
United States of America Water Utilities Industry PEG Ratio Median Figure of 8 Publicly-Listed Water Utilities Companies 3.65x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

OTCPK:MWTC.Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.8x ÷ 15.5%

0.63x

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

  • Manila Water Company is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Manila Water Company's assets?
Raw Data
OTCPK:MWTC.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PHP PHP21.66
PSE:MWC Share Price * PSE (2019-07-08) in PHP PHP24.5
United States of America Water Utilities Industry PB Ratio Median Figure of 16 Publicly-Listed Water Utilities Companies 3.18x
United States of America Market PB Ratio Median Figure of 5,248 Publicly-Listed Companies 1.79x
OTCPK:MWTC.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 24.5 ÷ 21.66

1.13x

* Primary Listing of Manila Water Company.

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

  • Manila Water Company is good value based on assets compared to the US Water Utilities industry average.
X
Value checks
We assess Manila Water Company'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 Water 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 Water Utilities industry average (and greater than 0)? (1 check)
  5. Manila Water Company has a total score of 4/6, 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.

Future Performance

 How is Manila Water Company expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

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
15.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Manila Water Company expected to grow at an attractive rate?
  • Manila Water Company's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Manila Water Company's earnings growth is expected to exceed the United States of America market average.
  • Manila Water Company's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:MWTC.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:MWTC.Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 15.5%
OTCPK:MWTC.Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 12.5%
United States of America Water Utilities Industry Earnings Growth Rate Market Cap Weighted Average 11.7%
United States of America Water Utilities Industry Revenue Growth Rate Market Cap Weighted Average 5.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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:MWTC.Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in PHP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:MWTC.Y Future Estimates Data
Date (Data in PHP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 27,592 6,599 7,990 7
2020-12-31 24,688 6,069 7,010 8
2019-12-31 21,575 7,194 5,518 8
OTCPK:MWTC.Y Past Financials Data
Date (Data in PHP Millions) Revenue Cash Flow Net Income *
2019-03-31 20,127 4,435 6,067
2018-12-31 19,761 3,298 6,524
2018-09-30 19,509 952 6,181
2018-06-30 19,255 -496 6,482
2018-03-31 18,869 -1,258 6,387
2017-12-31 18,399 -158 6,147
2017-09-30 17,723 720 6,085
2017-06-30 17,740 697 6,147
2017-03-31 17,662 1,998 6,033
2016-12-31 17,629 1,385 6,065
2016-09-30 17,454 2,840 6,225
2016-06-30 17,115 4,363 6,059

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Manila Water Company's earnings are expected to grow by 15.5% yearly, however this is not considered high growth (20% yearly).
  • Manila Water Company's revenue is expected to grow by 12.5% yearly, however this is not considered high growth (20% yearly).
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:MWTC.Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Manila Water Company Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:MWTC.Y Future Estimates Data
Date (Data in PHP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.98 4.84 3.28 6.00
2020-12-31 3.43 4.31 2.93 7.00
2019-12-31 2.66 3.02 2.21 7.00
OTCPK:MWTC.Y Past Financials Data
Date (Data in PHP Millions) EPS *
2019-03-31 2.50
2018-12-31 2.69
2018-09-30 2.55
2018-06-30 2.67
2018-03-31 2.63
2017-12-31 2.53
2017-09-30 2.51
2017-06-30 2.53
2017-03-31 2.49
2016-12-31
2016-09-30 2.57
2016-06-30 2.50

*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.
  • Manila Water Company is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Manila Water Company'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.
Manila Water Company has a total score of 3/6, 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.

Past Performance

  How has Manila Water Company 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 Manila Water Company's growth in the last year to its industry (Water 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.
  • Manila Water Company's year on year earnings growth rate has been positive over the past 5 years.
  • Manila Water Company's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Manila Water Company's 1-year earnings growth is negative, it can't be compared to the US Water Utilities industry average.
Earnings and Revenue History
Manila Water Company'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 Manila Water Company Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:MWTC.Y 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 20,126.69 6,067.23 3,278.14
2018-12-31 19,760.50 6,523.70 2,708.62
2018-09-30 19,508.53 6,180.64 2,956.89
2018-06-30 19,254.62 6,481.99 2,984.01
2018-03-31 18,869.15 6,387.17 2,806.53
2017-12-31 18,398.98 6,146.61 2,494.46
2017-09-30 17,722.67 6,084.80 1,832.31
2017-06-30 17,739.60 6,146.66 1,685.32
2017-03-31 17,661.90 6,033.31 1,682.22
2016-12-31 17,629.45 6,065.22 1,583.68
2016-09-30 17,453.69 6,224.73 1,462.07
2016-06-30 17,115.33 6,059.21 1,335.39
2016-03-31 16,979.88 5,994.35 1,197.01
2015-12-31 16,798.20 5,957.78 1,107.17
2015-09-30 16,732.73 5,869.79 837.96
2015-06-30 16,586.70 5,691.25 956.46
2015-03-31 16,448.47 5,826.21 997.03
2014-12-31 16,228.82 5,813.09 989.83
2014-09-30 16,531.75 6,008.23 1,066.87
2014-06-30 16,345.73 5,999.75 989.81
2014-03-31 16,054.73 5,850.32 869.82
2013-12-31 15,864.50 5,752.36 985.13
2013-09-30 15,161.32 5,848.14 1,113.90
2013-06-30 14,959.95 5,771.72 774.63
2013-03-31 14,739.48 5,482.69 1,162.26
2012-12-31 14,521.25 5,490.44 904.93
2012-09-30 13,983.61 5,087.25 1,181.39

*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.
  • Manila Water Company has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Manila Water Company used its assets more efficiently than the US Water Utilities industry average last year based on Return on Assets.
  • Manila Water Company's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Manila Water Company'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 Water 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.
Manila Water Company has a total score of 2/6, 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.

Health

 How is Manila Water Company'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 Manila Water Company's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Manila Water Company's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Manila Water Company's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Manila Water Company'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x 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 Manila Water Company Company Filings, last reported 3 months ago.

OTCPK:MWTC.Y Past Debt and Equity Data
Date (Data in PHP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 53,740.99 49,975.21 7,415.09
2018-12-31 53,621.09 51,647.47 9,400.84
2018-09-30 53,320.07 52,352.01 11,673.87
2018-06-30 51,637.66 48,639.32 7,918.77
2018-03-31 49,535.16 49,069.23 7,458.89
2017-12-31 48,560.70 39,724.38 9,033.98
2017-09-30 49,504.36 39,943.32 12,738.67
2017-06-30 46,826.23 31,497.62 6,448.07
2017-03-31 44,926.23 27,920.18 3,990.77
2016-12-31 44,381.69 27,618.50 4,065.70
2016-09-30 43,775.31 28,356.14 7,478.08
2016-06-30 41,957.96 27,774.31 7,225.72
2016-03-31 40,249.85 31,624.12 11,778.93
2015-12-31 39,718.99 26,220.37 6,849.96
2015-09-30 38,141.98 25,651.88 7,445.54
2015-06-30 37,326.78 24,230.91 5,962.79
2015-03-31 35,650.44 24,666.20 6,288.64
2014-12-31 35,101.57 25,470.75 6,452.55
2014-09-30 34,918.13 26,561.18 8,198.60
2014-06-30 33,349.60 26,328.49 7,411.44
2014-03-31 31,697.72 26,835.53 7,756.49
2013-12-31 31,054.06 26,251.68 6,874.13
2013-09-30 29,691.23 27,681.94 10,353.17
2013-06-30 29,204.65 23,011.16 4,867.61
2013-03-31 28,233.42 22,994.24 6,322.03
2012-12-31 26,754.27 24,071.01 5,540.15
2012-09-30 25,459.40 23,674.23 5,808.29
  • Manila Water Company's level of debt (93%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (84.6% vs 93% today).
  • Debt is not well covered by operating cash flow (8.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.1x coverage).
X
Financial health checks
We assess Manila Water Company'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. Manila Water Company has a total score of 1/6, 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.

Dividends

 What is Manila Water Company'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
3.61%
Current annual income from Manila Water Company dividends. Estimated to be 3.9% next year.
If you bought $2,000 of Manila Water Company shares you are expected to receive $72 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?
  • Manila Water Company's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Manila Water Company's dividend is below the markets top 25% of dividend payers in United States of America (3.78%).
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:MWTC.Y 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 8 Analyst Estimates (S&P Global) See Below
United States of America Water Utilities Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 1.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
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:MWTC.Y Future Dividends Estimate Data
Date (Data in PHP) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.07 7.00
2020-12-31 0.92 8.00
2019-12-31 0.89 8.00
OTCPK:MWTC.Y Past Annualized Dividends Data
Date (Data in PHP) Dividend per share (annual) Avg. Yield (%)
2019-02-26 0.883 3.681
2018-10-02 0.859 3.246
2018-08-14 0.860 3.542
2018-08-08 0.860 3.305
2018-03-02 0.860 3.209
2017-10-03 0.849 2.936
2017-08-14 0.849 2.736
2017-08-09 0.849 2.712
2017-03-01 0.849 2.692
2017-02-28 0.833 2.712
2016-10-03 0.833 2.761
2016-08-12 0.833 2.951
2016-08-04 0.833 3.197
2016-02-26 0.833 3.079
2016-02-24 0.815 3.047
2015-08-11 0.815 3.413
2015-07-30 0.815 3.267
2015-02-20 0.815 3.165
2015-02-12 0.806 2.539
2014-10-08 0.806 2.717
2014-08-14 0.806 2.798
2014-08-08 0.806 2.803
2014-05-13 0.806 3.078
2014-05-06 0.806 3.040
2014-03-14 0.764 3.051
2014-02-18 0.764 3.186
2013-09-26 0.764 3.166
2013-08-15 0.764 2.525
2013-08-08 0.764 2.470
2013-04-15 0.764 2.137
2013-04-12 0.596 1.477
2013-03-20 0.596 1.524
2013-02-26 0.596 1.611
2012-09-25 0.596 1.886
2012-08-13 0.596 2.229
2012-08-08 0.596 2.263
2012-04-16 0.596 2.395
2012-03-06 0.560 2.412
2011-11-10 0.560 2.721
2011-10-17 0.560 2.883
2011-08-10 0.560 2.906
2011-05-12 0.560 2.965
2011-04-15 0.460 2.545
2011-02-21 0.460 2.592
2010-11-15 0.460 2.469
2010-11-09 0.460 2.478
2010-08-12 0.460 2.504
2010-08-09 0.460 2.635
2010-07-09 0.460 2.703
2010-04-15 0.400 2.560
2010-04-12 0.400 2.550
2009-09-24 0.400 2.567
2009-08-10 0.400 2.593
2009-05-15 0.400 2.737
2009-04-15 0.350 2.614
2009-02-03 0.350 3.182
2008-11-13 0.350 2.810
2008-09-23 0.350 2.519
2008-08-14 0.350 2.062

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Manila Water Company's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x coverage).
X
Income/ dividend checks
We assess Manila Water Company'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 Manila Water Company afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Manila Water Company has a total score of 5/6, see the detailed checks below.


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

Management

 What is the CEO of Manila Water Company'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
Ferdinand De La Cruz
COMPENSATION PHP2,100,000
AGE 52
TENURE AS CEO 2.3 years
CEO Bio

Mr. Ferdinand Manalo De La Cruz has been the Chief Executive Officer and President of Manila Water Company, Inc. since April 17, 2017 and its Chief Sustainability Officer since November 20, 2018. He has been the Managing Director of Ayala Corporation. since 2011. Mr. De La Cruz served as the Chief Operating Officer of Manila Water Company, Inc. until April 17, 2017. Mr. De La Cruz served as Managing Director, Chief Executive Officer of Manila Water Total Solutions, President of Manila Water Total Solutions and Chief Prating Officer of Manila Water Operations of Ayala Corporation. He serves as President of Manila Water Foundation, Inc. Mr. De la Cruz served as the Head of Consumer Sales and After Sales Group at Globe Telecom Inc. He had senior leadership roles in Inbisco Philippines and Unilever Philippines. He served as Group Director of East Zone Business Operations and Group Director of Corporate Strategic Affairs at Manila Water Company, Inc. since December 2011 and since July 2011 respectively. He served as the Head of Consumer Wireless Business Group and Head of Consumer Sales and After Sales of Globe Telecom Inc. from October 2002 to June 2009. He joined Globe Telecom Inc. as Head of Wireless Group in 2002 and served as its Head of­ Consumer Business. Prior to Globe Telecom Inc., he served as the President and General Manager of Kraft Foods Philippines. Prior to that, he served as Senior Vice President of Marketing and Sales Division at Ayala Land Inc. He also served as National Sales Manager for San Miguel Brewing. He started his working career as a Junior Engineer in DCCD's Mechanical Engineering Division in 1986. He has been Director of Manila Water Company, Inc. since April 16, 2018. He serves as a Director of Clark Water Corporation He is a licensed Mechanical Engineer. Mr. De la Cruz holds a B.S. in Mechanical Engineering degree (cum Laude) from the University of the Philippines.

CEO Compensation
  • Ferdinand's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Ferdinand's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Manila Water Company management team in years:

1.5
Average Tenure
53
Average Age
  • The average tenure for the Manila Water Company management team is less than 2 years, this suggests a new team.
Management Team

Ferdinand De La Cruz

TITLE
CEO, President
COMPENSATION
PHP2M
AGE
52
TENURE
2.3 yrs

Maria Cecilia Cruzabra

TITLE
CFO, Treasurer
AGE
53
TENURE
0.7 yrs

Abelardo Basilio

TITLE
Acting Chief Operating Officer of Manila Water Operations & Group Director for Strategic Asset Mgmt.
AGE
58
TENURE
0.3 yrs

Anne Lizbeth Olmo

TITLE
Department Head of Financial Accounting

Liwayway Sevalla

TITLE
Chief Information Officer
AGE
53

Mark Orbos

TITLE
Department Head of Corporate Strategy & Investor Relations

Gerardo Lobo

TITLE
Head of Legal & Corporate Governance Dept

Nestor jeric Sevilla

TITLE
Group Head of Corporate Strategic Affairs & Department Head of Corporate Communications

Janine Carreon

TITLE
Group Director of Corporate Human Resources
AGE
47
TENURE
3.3 yrs

Virgilio Rivera

TITLE
Chief Operating Officer of New Business Operations
AGE
57
Board of Directors Tenure

Average tenure and age of the Manila Water Company board of directors in years:

9.3
Average Tenure
68.5
Average Age
  • The tenure for the Manila Water Company board of directors is about average.
Board of Directors

Fernando Zobel de Ayala

TITLE
Chairman
COMPENSATION
PHP2M
AGE
57

Ferdinand De La Cruz

TITLE
CEO, President
COMPENSATION
PHP2M
AGE
52
TENURE
2.3 yrs

Jaime Zobel de Ayala

TITLE
Vice Chairman
COMPENSATION
PHP2M
AGE
60
TENURE
12.3 yrs

Oscar Reyes

TITLE
Lead Independent Director
COMPENSATION
PHP3M
AGE
73
TENURE
2.3 yrs

Sherisa Nuesa

TITLE
Independent Director
COMPENSATION
PHP2M
AGE
64
TENURE
6.3 yrs

Jose Cuisia

TITLE
Independent Director
COMPENSATION
PHP3M
AGE
74
TENURE
9.3 yrs

Jaime Laya

TITLE
Independent Director
COMPENSATION
PHP3M
AGE
80
TENURE
5.3 yrs

Gerardo Ablaza

TITLE
Non-Executive Director
COMPENSATION
PHP3M
AGE
66
TENURE
9.7 yrs

Delfin Lazaro

TITLE
Non-Executive Director
COMPENSATION
PHP2M
AGE
72
TENURE
17.2 yrs

Tony Aquino

TITLE
Non-Executive Director
COMPENSATION
PHP2M
AGE
71
TENURE
21.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Manila Water Company'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. Manila Water Company 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.

News

Simply Wall St News

Company Info

Description

Manila Water Company, Inc., together with its subsidiaries, provides water treatment, water distribution, sewerage, and sanitation services to residential, commercial, industrial, and semi-business customers in the Philippines and internationally. It also offers pipelaying and integrated used water services, as well as sells purified water in selected areas in Metro Manila; and bulk water in the province of Cebu. The company provides its services to approximately 6 million people in the East Zone encompassing 23 cities and municipalities, including Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, Quezon City, and Manila, as well as various towns of Rizal. Manila Water Company, Inc. was founded in 1997 and is based in Quezon City, the Philippines. Manila Water Company, Inc. is a subsidiary of Ayala Corporation.

Details
Name: Manila Water Company, Inc.
MWTC.Y
Exchange: OTCPK
Founded: 1997
PHP1,163,288,976
2,427,238,060
Website: http://www.manilawater.com
Address: Manila Water Company, Inc.
MWSS Administration Building,
2nd Floor,
Quezon City,
1105,
Philippines
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
PSE MWC Common Shares Philippines Stock Exchange PH PHP 18. Mar 2005
OTCPK MWTC.F Common Shares Pink Sheets LLC US USD 18. Mar 2005
OTCPK MWTC.Y UNSPONSORD ADR Pink Sheets LLC US USD 20. May 2011
Number of employees
Current staff
Staff numbers
0
Manila Water Company employees.
Industry
Water Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/23 00:26
End of day share price update: 2019/07/08 00:00
Last estimates confirmation: 2019/06/17
Last earnings filing: 2019/05/15
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.