PLDT Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data PLDT Inc. files with the SEC in its annual reports.

In PHP millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2019	FY2021	FY2022	FY2023	FY2024
Revenue	171,103	165,262	158,933	162,914	169,187	181,004	192,186	204,362	210,953	216,833
Cost of revenue	17,453	18,293	13,633	14,427	13,429	12,295	12,917	14,172	15,092	14,011
Gross profit	153,650	146,969	145,300	148,487	155,758	168,709	179,269	190,190	195,861	202,822
Selling, general and administrative	70,289	67,196	68,990	73,916	68,230	75,255	77,686	84,476	81,876	78,308
Operating income	31,835	24,703	9,511	13,773	39,401	36,182	40,871	-5,065	40,694	50,487
Interest expense	6,259	7,354	7,370	7,067	8,553	10,086	10,402	11,759	13,755	15,500
Interest income	799	1,046	1,412	1,943	1,745	1,210	656
Pre-tax income	26,638	22,071	14,569	22,815	32,336	33,021	34,154	13,509	36,436	42,693
Income tax	4,563	1,909	1,103	3,842	9,550	8,441	7,478	2,774	9,612	10,138
Income from continuing operations							26,797	11,335	26,865	32,555
Net income to minority interests	10	156	95	57	265	296	309	250	210	248
Net income	22,065	20,006	13,371	18,916	22,521	24,284	26,367	10,485	26,614	32,307
EBITDA	63,354	59,158	61,426	61,013	79,057	83,662	92,943	93,566	99,135	106,475
EPS, basic	101.85	92.33	61.61	87.28	103.97	112.12	121.76	48.26	122.91	149.26
EPS, diluted	101.85	92.33	61.61	87.28	103.97	112.12	121.76	48.26	122.91	149.26

Balance sheet

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2019	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	46,455	38,722	32,905	51,654	24,369	40,237	23,907	25,211	16,177	10,011
Short-term investments		326	100		150		207		200	25
Receivables		24,436	33,761	24,056	22,436	22,053	21,790	26,255	26,086	31,612
Inventory			3,933	2,878	3,412	4,085	3,662	3,568	3,340	3,306
Total current assets		85,964	89,669	99,574	75,577	87,438	73,931	81,329	70,123	63,828
Property, plant and equipment	195,782	203,188	186,907	195,964	232,134	260,868	302,736	292,745	287,103	318,069
Lease right-of-use assets					15,890	18,303	20,081	28,863	32,717	39,111
Goodwill		61,379	61,379	61,379	61,379	61,379	61,379	62,941	62,941	62,941
Intangible assets		8,901	8,204	7,204	6,446	3,950	1,156	1,608	1,394	1,523
Total assets	455,095	475,119	459,444	482,750	525,027	575,846	626,328	624,162	609,519	623,275
Accounts payable		52,950	60,445	74,610	77,845	82,413	99,718	105,187	81,014	66,722
Short-term debt				0	0	0		10,000
Total current liabilities		182,013	168,091	192,608	204,448	213,537	224,274	247,002	196,673	188,462
Lease liabilities					13,100	15,982	17,131	31,958	41,625	46,703
Total liabilities	341,197	366,582	348,261	366,084	408,737	456,181	498,863	510,201	499,133	506,540
Total debt		185,032	172,611	176,276	192,556	222,765	252,557	249,580	254,798	281,586
Retained earnings		3,483	634	12,081	18,063	25,652	34,243	18,799	22,020	33,901
Shareholders' equity		108,175	106,842	112,358	111,987	115,408	123,216	108,727	105,218	115,419
Minority interests		362	4,341	4,308	4,303	4,257	4,249	5,234	5,168	1,316
Total equity	113,898	108,537	111,183	116,666	116,290	119,665	127,465	113,961	110,386	116,735
Total liabilities and equity	455,095	475,119	459,444	482,750	525,027	575,846	626,328	624,162	609,519	623,275

Cash flow statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2019	FY2021	FY2022	FY2023	FY2024
Net income	22,075	20,162	13,466	18,973	22,786	24,580	26,676	10,735	26,824	32,555
Depreciation and amortization	31,519	34,455	51,915	47,240	39,656	47,480	52,072	98,631	58,441	55,988
Cash from operations	69,744	48,976	56,114	61,116	69,392	85,076	91,970	76,200	85,765	81,731
Capital expenditures	-42,805	-42,259	-36,616	-47,247	-88,246	-76,503	-102,395	-93,803	-76,266	-65,668
Cash from investing	-39,238	-41,982	-21,060	-25,054	-84,316	-68,669	-103,640	-33,006	-55,118	-65,704
Debt issued	44,367	40,569	26,255	20,500	37,500	61,271	51,500	5,000	38,000	37,000
Debt repaid	-17,084	-19,650	-39,199	-18,740	-20,494	-28,365	-22,565	-22,353	-22,611	-12,059
Share buybacks	-1
Dividends paid	-32,532	-22,987	-16,617	-13,928	-15,592	-16,721	-17,712	-25,235	-23,328	-20,750
Cash from financing	-11,385	-15,341	-40,319	-18,144	-11,613	463	-4,904	-42,304	-39,418	-22,331
Exchange rate effect	675	614	-552	831	-748	-1,002	244	414	-263	138
Net change in cash	19,796	-7,733	-5,817	18,749	-27,285	15,868	-16,330	1,304	-9,034	-6,166
Free cash flow	26,939	6,717	19,498	13,869	-18,854	8,573	-10,425	-17,603	9,499	16,063

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Gross margin	93.5%	Gross profit / revenue.
Operating margin	23.3%	Operating income / revenue.
EBITDA margin	49.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	19.7%	Pre-tax income / revenue.
Net margin	14.9%	Net income / revenue.
FCF margin	7.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	37.7%	Cash from operations / revenue.
Effective tax rate	23.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	29.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.2%	Net income / average total assets.
Return on invested capital (ROIC)	10.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	36.1%	Selling, general and administrative expense / revenue.
Capex / revenue	30.3%	Capital expenditures / revenue.
D&A / revenue	25.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	5.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	24.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	7.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	5.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	7.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	6.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	21.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	7.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	7.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	21.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	7.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	7.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-4.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-3.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	69.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	9.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-2.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.34x	Current assets / current liabilities.
Quick ratio	0.22x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.05x	(Cash + short-term investments) / current liabilities.
Debt / equity	2.44x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	45.2%	Total debt / total assets.
Liabilities / assets	81.3%	Total liabilities / total assets.
Net debt	₱271.55B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.55x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.26x	Operating income / interest expense.
Working capital	-₱124.63B	Current assets - current liabilities.
Goodwill and intangibles / assets	10.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	₱50.96B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.35x	Revenue / average total assets.
Fixed asset turnover	0.72x	Revenue / average property, plant and equipment.
Inventory turnover	4.22x	Cost of revenue / average inventory.
Days inventory	87 days	365 x average inventory / cost of revenue.
Receivables turnover	7.52x	Revenue / average receivables.
Days sales outstanding	49 days	365 x average receivables / revenue.
Days payables	1,924 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-1,789 days	Days inventory + days sales outstanding - days payables.
FCF conversion	49.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	80.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	₱149.26	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	₱149.26	Net income per basic share, as reported (split-adjusted).
Payout ratio	64.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	129.2%	Dividends paid / free cash flow, when free cash flow is positive.

What was PLDT Inc.'s revenue in fiscal 2024?

PLDT Inc. reported revenue of ₱216.83B for fiscal 2024, 2.8% higher than the year before.

Was PLDT Inc. profitable in fiscal 2024?

Yes. Net income was ₱32.31B, a net margin of 14.9%.

How much free cash flow did PLDT Inc. generate in fiscal 2024?

Cash from operations of ₱81.73B minus capital expenditures of ₱65.67B left free cash flow of ₱16.06B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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