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PLDT

PHI
60
Telecommunications Services · Communication Services
Price
$19.38
+0.14 (+0.73%)
Market Cap
$4.19B
Exchange
New York Stock Exchange
Winston Score
60
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Strong
Growth
Weak
Cash Flow
Exceptional
Stability
Good
Valuation
Strong
Dividends
Good

Winston Score History

The full picture

PLDT Inc. is the largest telecommunications company in the Philippines. It provides mobile phone service, home internet, and business communication solutions to millions of Filipino consumers and companies. Its mobile brand, Smart Communications, is one of the two dominant wireless networks in the country, competing mainly against Globe Telecom.

PLDT makes money through monthly subscription fees for mobile and broadband plans, as well as corporate data and IT services sold to businesses. The company operates almost entirely within the Philippines, generating roughly $3–4 billion in annual revenue. Its scale and nationwide network infrastructure give it a strong competitive position, but it carries significant debt from years of heavy capital spending to build out its fiber and 5G networks. The key challenge going forward is managing that debt load while growing its fixed broadband and enterprise data businesses as demand for faster internet in the Philippines continues to rise.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.1% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-16.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

0 PHP/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

67.0%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

80.4B PHP cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

PLDT is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.2% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 216.1M (2021) → 216.5M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
59.2%
Premium pricing power — 59.2% gross margin
Profit after running costs
Operating Margin
24.1%
Excellent — 24.1% operating margin
Return on the money invested
ROCE
14.4%
Good — 14.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+1.7%
Nearly flat sales (+1.7% YoY)
Profit growth
EPS YoY
-11.1%
Earnings shrinking (-11.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
330%
Turns 330% of profit into real cash
Spare cash per sale
FCF Margin
18.9%
Converts sales into free cash efficiently (18.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
2.30
Heavy debt load (2.30)
Covers its interest
Interest Cover
14.08x
Comfortably covers interest (14.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
9.1x
Attractive valuation — P/E 9.1

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
+1.1
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
8.17%
Healthy income — 8.17% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
-17.9%
Dividend cut (-17.9% YoY) — warning sign

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