First Philippine Holdings Corp (XPHS:FPH)

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Price: 60.2 PHP -0.41%

Market Cap: 27.9B PHP

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Section:

Relative Value

The Relative Value of one FPH stock under the Base Case scenario is 348.89 PHP. Compared to the current market price of 60.2 PHP, First Philippine Holdings Corp is Undervalued by 83%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is Relative Valuation?

How is Relative Value calculated?

FPH Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

0.2

P/S

vs History	84
vs Industry	92

Median 5Y

0.2

Industry

1.7

Forward

0.2

More Details

1.8

P/E

vs History	84
vs Industry	75

Median 5Y

2.5

Industry

15.1

Forward

3.1

More Details

0.8

P/OCF

vs History	52
vs Industry	82

Median 5Y

0.8

Industry

7.1

More Details

2.6

P/FCFE

vs History	41
vs Industry	55

Median 5Y

1.8

Industry

13.9

More Details

0.2

P/B

vs History	98
vs Industry	90

Median 5Y

0.2

Industry

1.4

More Details

0.6

EV/S

vs History	36
vs Industry	82

Median 5Y

0.6

Industry

2.8

Forward

0.7

More Details

EV/GP

vs History	22
vs Industry	82

Median 5Y

1.8

Industry

7.6

More Details

2.2

EV/EBITDA

vs History	26
vs Industry	80

Median 5Y

1.9

Industry

10.5

Forward

2.4

More Details

3.3

EV/EBIT

vs History	22
vs Industry	77

Median 5Y

2.8

Industry

14.9

Forward

3.2

More Details

EV/OCF

vs History	26
vs Industry	76

Median 5Y

1.9

Industry

11.2

More Details

Negative

EV/FCFF

vs History
vs Industry	49

Median 5Y

2.8

Industry

16.4

More Details

0.2

EV/IC

vs History	44
vs Industry	91

Median 5Y

0.3

Industry

0.9

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
PH	F	First Philippine Holdings Corp XPHS:FPH	27.9B PHP	0.2	1.8	2.2	3.3
US		Nextera Energy Inc NYSE:NEE	154.8B USD	5.9	22.3	15.9	26.8
US		Southern Co NYSE:SO	95.1B USD	3.6	20.1	12.8	22.4
ES		Iberdrola SA MAD:IBE	86.6B EUR	1.9	13.5	7.2	11.1
US		Duke Energy Corp NYSE:DUK	85.4B USD	2.8	20.3	11.8	21.6
IT		Enel SpA MIL:ENEL	68.8B EUR	0.5	7.9	4	5.4
US		Constellation Energy Corp NASDAQ:CEG	70.5B USD	2.9	24.7	12.6	23
US		PG&E Corp NYSE:PCG	54.9B USD	2.2	20	12.1	21.5
US		American Electric Power Company Inc NASDAQ:AEP	49.9B USD	2.5	18.9	12.4	22.6
FR		Electricite de France SA PAR:EDF	46.6B EUR	0.3	-2.5	-5.4	-3.2
DK	O	Oersted A/S SWB:D2G	45.1B EUR	5.2	66.6	27.3	27.3

				Revenue Growth
PH	F	First Philippine Holdings Corp XPHS:FPH	Average P/S: 2.6 0.2	N/A
US		Nextera Energy Inc NYSE:NEE	5.9	15%
US		Southern Co NYSE:SO	3.6	14%
ES		Iberdrola SA MAD:IBE	1.9	5%
US		Duke Energy Corp NYSE:DUK	2.8	12%
IT		Enel SpA MIL:ENEL	0.5	4%
US		Constellation Energy Corp NASDAQ:CEG	2.9	-1%
US		PG&E Corp NYSE:PCG	2.2	10%
US		American Electric Power Company Inc NASDAQ:AEP	2.5	17%
FR		Electricite de France SA PAR:EDF	0.3	-43%
DK	O	Oersted A/S SWB:D2G	5.2	20%

				Earnings Growth
PH	F	First Philippine Holdings Corp XPHS:FPH	Average P/E: 21.6 1.8	N/A
US		Nextera Energy Inc NYSE:NEE	22.3	14%
US		Southern Co NYSE:SO	20.1	31%
ES		Iberdrola SA MAD:IBE	13.5	20%
US		Duke Energy Corp NYSE:DUK	20.3	93%
IT		Enel SpA MIL:ENEL	7.9	112%
US		Constellation Energy Corp NASDAQ:CEG	24.7	89%
US		PG&E Corp NYSE:PCG	20	89%
US		American Electric Power Company Inc NASDAQ:AEP	18.9	53%
FR		Electricite de France SA PAR:EDF	Negative Multiple: -2.5	N/A
DK	O	Oersted A/S SWB:D2G	66.6	N/A

				EBITDA Growth
PH	F	First Philippine Holdings Corp XPHS:FPH	Average EV/EBITDA: 11.8 2.2	N/A
US		Nextera Energy Inc NYSE:NEE	15.9	25%
US		Southern Co NYSE:SO	12.8	28%
ES		Iberdrola SA MAD:IBE	7.2	16%
US		Duke Energy Corp NYSE:DUK	11.8	21%
IT		Enel SpA MIL:ENEL	4	1%
US		Constellation Energy Corp NASDAQ:CEG	12.6	28%
US		PG&E Corp NYSE:PCG	12.1	64%
US		American Electric Power Company Inc NASDAQ:AEP	12.4	40%
FR		Electricite de France SA PAR:EDF	Negative Multiple: -5.4	N/A
DK	O	Oersted A/S SWB:D2G	27.3	153%

				EBIT Growth
PH	F	First Philippine Holdings Corp XPHS:FPH	Average EV/EBIT: 18.5 3.3	N/A
US		Nextera Energy Inc NYSE:NEE	26.8	25%
US		Southern Co NYSE:SO	22.4	44%
ES		Iberdrola SA MAD:IBE	11.1	21%
US		Duke Energy Corp NYSE:DUK	21.6	34%
IT		Enel SpA MIL:ENEL	5.4	1%
US		Constellation Energy Corp NASDAQ:CEG	23	160%
US		PG&E Corp NYSE:PCG	21.5	97%
US		American Electric Power Company Inc NASDAQ:AEP	22.6	56%
FR		Electricite de France SA PAR:EDF	Negative Multiple: -3.2	N/A
DK	O	Oersted A/S SWB:D2G	27.3	61%

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	Estee Lauder Companies Inc NYSE:EL	US
	Exxon Mobil Corp NYSE:XOM	US
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	Pfizer Inc NYSE:PFE	US
	American Express Co NYSE:AXP	US
	Nike Inc NYSE:NKE	US
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	Alibaba Group Holding Ltd NYSE:BABA	CN
	3M Co NYSE:MMM	US
	JPMorgan Chase & Co NYSE:JPM	US
	Coca-Cola Co NYSE:KO	US
	Target Corp NYSE:TGT	US
	Walt Disney Co NYSE:DIS	US
	Mueller Industries Inc NYSE:MLI	US
	PayPal Holdings Inc NASDAQ:PYPL	US

First Philippine Holdings Corp
XPHS:FPH

Relative Value

Valuation Multiples

Multiples Across Competitors

FPH Competitors Multiples
First Philippine Holdings Corp Competitors

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Company

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52 Week Range	58.4797 65
Price Target

First Philippine Holdings Corp XPHS:FPH

Relative Value

Valuation Multiples

Multiples Across Competitors

FPH Competitors Multiples First Philippine Holdings Corp Competitors

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Company

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First Philippine Holdings Corp
XPHS:FPH

FPH Competitors Multiples
First Philippine Holdings Corp Competitors