Buy Or Sell Opportunity • May 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₱6.54. The fair value is estimated to be ₱8.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 16
First quarter 2026 earnings released: EPS: ₱0.03 (vs ₱0.098 in 1Q 2025) First quarter 2026 results: EPS: ₱0.03 (down from ₱0.098 in 1Q 2025). Revenue: ₱3.59b (down 1.5% from 1Q 2025). Net income: ₱45.2m (down 68% from 1Q 2025). Profit margin: 1.3% (down from 3.9% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Duyuru • Apr 22
Ruby Chang agreed to acquire Blue Eagle and LBC Service Ltd. from LBC Express Holdings, Inc. (PSE:LBC) for TWD 2 million. Ruby Chang agreed to acquire Blue Eagle and LBC Service Ltd. from LBC Express Holdings, Inc. (PSE:LBC) for TWD 2 million on April 22, 2026. A cash consideration of TWD 2 million will be paid by the buyer. As part of consideration, TWD 2 million is paid towards common equity of Blue Eagle and LBC Service Ltd.
The Company will execute a deed of sale of shares, which will be subject to the approval of the concerned regulators in the Republic of China. The transaction is subject to approval of LBC Express Holdings board. The deal has been approved by the board. Reported Earnings • Apr 16
Full year 2025 earnings released: EPS: ₱0.17 (vs ₱0.11 loss in FY 2024) Full year 2025 results: EPS: ₱0.17 (up from ₱0.11 loss in FY 2024). Revenue: ₱14.0b (down 1.9% from FY 2024). Net income: ₱246.1m (up ₱397.9m from FY 2024). Profit margin: 1.8% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. New Risk • Feb 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Large one-off items impacting financial results. Buy Or Sell Opportunity • Jan 26
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to ₱8.10. The fair value is estimated to be ₱6.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jan 08
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to ₱8.85. The fair value is estimated to be ₱6.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₱8.88, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 17x in the Logistics industry in Asia. Total loss to shareholders of 53% over the past three years. Buy Or Sell Opportunity • Dec 15
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.1% to ₱8.00. The fair value is estimated to be ₱6.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Nov 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 46% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: ₱0.37 (vs ₱0.05 in 3Q 2024) Third quarter 2025 results: EPS: ₱0.37 (up from ₱0.05 in 3Q 2024). Revenue: ₱3.49b (up 1.3% from 3Q 2024). Net income: ₱527.7m (up ₱462.0m from 3Q 2024). Profit margin: 15% (up from 1.9% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Duyuru • Oct 14
LBC Express Holdings, Inc., Annual General Meeting, Dec 09, 2025 LBC Express Holdings, Inc., Annual General Meeting, Dec 09, 2025, at 14:00 W. Australia Standard Time. Location: eneral-meeting/), Philippines Board Change • Sep 14
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Ferdinand Tolentino was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Jun 13
LBC Express Holdings, Inc. Paid Penalty Imposed by the Securities and Exchange Commission On 11 June 2025, LBC Express Holdings, Inc. paid the penalty in the amount of PHP 120,000 imposed by the Securities and Exchange Commission ("SEC")-Corporate Governance and Finance Department ("CGFD") in its Assessment Letter dated 26 May 2025 issued to the Corporation which was received by the Corporation on 5 June 2025. The SEC-CGFD initially sought to impose a higher assessment for the supposed failure of the Corporation to comply with certain prescribed requirements under the SEC Memorandum Circular No. 11, Series of 2014 ("SEC MC No. 11-2014"), such as its failure to upload its 2014 Annual Corporate Governance Form ("ACGR"). The Corporation then sought reconsideration of the SEC's initial assessment on the basis of, among others: (i) the limited 5-year period requirement to maintain website reports under SEC MC No. 11-2014, (ii) the fact that the LBC Group only acquired Federal Resources Group, Inc. (the former name of the Corporation) in May 2015 and had no access to the ACGRs prior thereto, and (iii) technical issues that may render links inaccessible or temporarily unavailable that are out of the Corporation's control. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: ₱0.10 (vs ₱0.007 loss in 1Q 2024) First quarter 2025 results: EPS: ₱0.10 (up from ₱0.007 loss in 1Q 2024). Revenue: ₱3.64b (flat on 1Q 2024). Net income: ₱140.4m (up ₱150.3m from 1Q 2024). Profit margin: 3.9% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 16
Full year 2024 earnings released: ₱0.11 loss per share (vs ₱0.12 profit in FY 2023) Full year 2024 results: ₱0.11 loss per share (down from ₱0.12 profit in FY 2023). Revenue: ₱14.3b (down 1.5% from FY 2023). Net loss: ₱151.8m (down 186% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. New Risk • Jan 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 33% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ₱0.05 (vs ₱0.09 in 3Q 2023) Third quarter 2024 results: EPS: ₱0.05 (down from ₱0.09 in 3Q 2023). Revenue: ₱3.45b (down 1.7% from 3Q 2023). Net income: ₱65.6m (down 50% from 3Q 2023). Profit margin: 1.9% (down from 3.7% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Duyuru • Oct 02
LBC Express Holdings, Inc., Annual General Meeting, Nov 25, 2024 LBC Express Holdings, Inc., Annual General Meeting, Nov 25, 2024, at 14:00 W. Australia Standard Time. Location: neral-meeting/, Philippines Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ₱0.13 (vs ₱0.09 loss in 2Q 2023) Second quarter 2024 results: EPS: ₱0.13. Revenue: ₱3.52b (down 2.0% from 2Q 2023). Net loss: ₱183.6m (loss widened 50% from 2Q 2023). Reported Earnings • May 01
Full year 2023 earnings released: EPS: ₱0.12 (vs ₱0.38 loss in FY 2022) Full year 2023 results: EPS: ₱0.12 (up from ₱0.38 loss in FY 2022). Revenue: ₱14.5b (down 4.5% from FY 2022). Net income: ₱176.3m (up ₱718.3m from FY 2022). Profit margin: 1.2% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Mar 20
Now 26% overvalued Over the last 90 days, the stock has fallen 7.2% to ₱16.94. The fair value is estimated to be ₱13.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 05
Now 30% overvalued Over the last 90 days, the stock has fallen 5.7% to ₱17.58. The fair value is estimated to be ₱13.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 12
Now 33% overvalued Over the last 90 days, the stock has fallen 6.2% to ₱17.78. The fair value is estimated to be ₱13.40, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 19
Now 42% overvalued after recent price rise Over the last 90 days, the stock has risen 6.1% to ₱17.98. The fair value is estimated to be ₱12.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 18
Third quarter 2023 earnings released: EPS: ₱0.09 (vs ₱0.10 loss in 3Q 2022) Third quarter 2023 results: EPS: ₱0.09 (up from ₱0.10 loss in 3Q 2022). Revenue: ₱3.51b (down 11% from 3Q 2022). Net income: ₱130.9m (up ₱275.0m from 3Q 2022). Profit margin: 3.7% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Duyuru • Oct 21
LBC Express Holdings, Inc., Annual General Meeting, Dec 04, 2023 LBC Express Holdings, Inc., Annual General Meeting, Dec 04, 2023. Duyuru • Oct 01
LBC Express Holdings, Inc. (PSE:LBC) agreed to acquire Blue Eagle and LBC Service Ltd. for TWD 5 million. LBC Express Holdings, Inc. (PSE:LBC) agreed to acquire Blue Eagle and LBC Service Ltd. for TWD 5 million on September 28, 2023. The transaction has been approved by regulatory agency of the Republic of China. Reported Earnings • Aug 23
Second quarter 2023 earnings released: ₱0.09 loss per share (vs ₱0.09 loss in 2Q 2022) Second quarter 2023 results: ₱0.09 loss per share (in line with 2Q 2022). Revenue: ₱3.59b (down 5.0% from 2Q 2022). Net loss: ₱122.7m (loss narrowed 7.0% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. New Risk • Jun 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Filipino stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 62% per year over the past 5 years. Reported Earnings • May 24
First quarter 2023 earnings released: EPS: ₱0.15 (vs ₱0.034 in 1Q 2022) First quarter 2023 results: EPS: ₱0.15 (up from ₱0.034 in 1Q 2022). Revenue: ₱3.78b (down 4.5% from 1Q 2022). Net income: ₱207.0m (up 324% from 1Q 2022). Profit margin: 5.5% (up from 1.2% in 1Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Duyuru • May 23
LBC Express Holdings, Inc., Annual General Meeting, Jun 12, 2023 LBC Express Holdings, Inc., Annual General Meeting, Jun 12, 2023. Reported Earnings • Nov 22
Third quarter 2022 earnings released: ₱0.10 loss per share (vs ₱0.05 loss in 3Q 2021) Third quarter 2022 results: ₱0.10 loss per share (further deteriorated from ₱0.05 loss in 3Q 2021). Revenue: ₱3.93b (flat on 3Q 2021). Net loss: ₱144.1m (loss widened 124% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Victor Lim was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Oct 14
LBC Express Holdings, Inc., Annual General Meeting, Nov 28, 2022 LBC Express Holdings, Inc., Annual General Meeting, Nov 28, 2022. Reported Earnings • Aug 18
Second quarter 2022 earnings released: ₱0.09 loss per share (vs ₱0.12 profit in 2Q 2021) Second quarter 2022 results: ₱0.09 loss per share (down from ₱0.12 profit in 2Q 2021). Revenue: ₱3.78b (down 6.8% from 2Q 2021). Net loss: ₱131.9m (down 177% from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Duyuru • Jul 14
LBC Express Holdings, Inc. Announces Resignation of Solita Delantar as Member of the Board of Directors, Effective July 15, 2022 LBC Express Holdings, Inc. announced that Ms. Solita V. Delantar resigned as an independent director, Chairwoman of the Audit Committee, member of the Corporate Governance Committee, and member of the Board Risk Oversight Committee of LBC Express Holdings, Inc. effective on 15 July 2022. Reason for Resignation: Due to lack of time which she can devote as a director of the Company. Reported Earnings • May 18
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: ₱0.61 loss per share (down from ₱0.14 profit in FY 2020). Revenue: ₱16.2b (up 15% from FY 2020). Net loss: ₱866.2m (down ₱1.07b from profit in FY 2020). Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). Independent Director Victor Lim was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 19% share price gain to ₱24.95, the stock trades at a trailing P/E ratio of 71.2x. Average trailing P/E is 21x in the Logistics industry in Asia. Total returns to shareholders of 75% over the past three years. Reported Earnings • Nov 23
Third quarter 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2021 results: ₱0.05 loss per share (down from ₱0.31 profit in 3Q 2020). Revenue: ₱3.90b (down 2.1% from 3Q 2020). Net loss: ₱64.2m (down 114% from profit in 3Q 2020). Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) missed analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ₱0.12 (vs ₱0.48 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₱4.06b (up 120% from 2Q 2020). Net income: ₱170.8m (up ₱850.5m from 2Q 2020). Profit margin: 4.2% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • May 22
First quarter 2021 earnings released: EPS ₱0.10 (vs ₱0.13 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ₱4.36b (up 15% from 1Q 2020). Net income: ₱139.7m (down 21% from 1Q 2020). Profit margin: 3.2% (down from 4.7% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS ₱0.14 (vs ₱0.35 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₱14.1b (down 7.2% from FY 2019). Net income: ₱200.3m (down 60% from FY 2019). Profit margin: 1.4% (down from 3.3% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 04
New 90-day high: ₱16.82 The company is up 6.0% from its price of ₱15.80 on 04 December 2020. The Filipino market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Logistics industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: ₱16.80 The company is up 5.0% from its price of ₱16.02 on 11 September 2020. The Filipino market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 7.0% over the same period. Duyuru • Nov 25
LBC Express Holdings, Inc. Announces Election of its Corporate Officers and Committee Members On 23 November 2020, the board of directors of LBC Express Holdings, Inc. held its organizational meeting to elect its corporate officers and committee members. The company elected Ernesto C. Naval III as Alternate Corporate Information Officer, Victor Y. Lim, Jr. as Member of Audit Committee, Member of Corporate Governance Committee, Chairman of Risk Oversight Committee, and Member of Related Party Transaction Committee. Anthony A. Abad as Chairman of Related Party Transaction Committee. Augusto G. Gan Member of Related Party Transaction Committee. Is New 90 Day High Low • Nov 12
New 90-day high: ₱16.28 The company is up 3.0% from its price of ₱15.80 on 14 August 2020. The Filipino market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 9.0% over the same period. Upcoming Dividend • Nov 11
Upcoming Dividend of ₱0.20 Per Share Will be paid on the 15th of December to those who are registered shareholders by the 18th of November. The trailing yield of 1.3% is below the top quartile of Filipino dividend payers (4.7%), but it is higher than industry peers (1.0%). Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS ₱0.31 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₱3.99b (up 7.0% from 3Q 2019). Net income: ₱448.5m (up ₱512.2m from 3Q 2019). Profit margin: 11% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Duyuru • Sep 08
Highlander Partners, L.P. acquired an unknown stake in LBC Express Holdings, Inc. (PSE:LBC). Highlander Partners, L.P. acquired an unknown stake in LBC Express Holdings, Inc. (PSE:LBC) in July, 2017.
Highlander Partners, L.P. completed the acquisition of an unknown stake in LBC Express Holdings, Inc. (PSE:LBC) July, 2017. Duyuru • Jun 16
LBC Express Holdings, Inc. to Report Fiscal Year 2019 Results on May 28, 2020 LBC Express Holdings, Inc. announced that they will report fiscal year 2019 results on May 28, 2020