Professional Documents
Culture Documents
2017 2016
Short term Solvency and Liquidity
Current ratio* 0.72 0.64
Quick Ratio* 0.48 0.43
Solvency ratio 0.20 0.21
Trade Receivables to Working Capital -1.24 -0.92
Asset Liquidity and Management Efficiency
Trade Receivable Turnover* 4.99 5.19
Fixed Asset Turnover* 0.89 0.93
Asset Turnover* 0.51 0.57
Average Collection Period (Days) 73.18 70.36
Payable Turnover* 1.90 1.93
Average Payment Period (Days) 189.35 186.40
Long-Term Financial Stability
Debt Ratio 76.04% 74.60%
Equity Ratio 23.96% 25.40%
Debt to Equity 317.33% 293.63%
Times Interest Earned* 5.12 7.67
Profitability and Return to Investors
Gross Margin 64.15% 64.07%
Operating Profit 19.08% 20.61%
Net profit 11.15% 12.53%
Return on Asset 5.72% 7.13%
Return on Equity 23.21% 24.56%
Earnings per Share 109.22 115.45
Price/Eearnings Ratio* 17.40 13.07
Dividend Payout 83.32% 76.22%
Financial Leverage* 4.06 3.63
Market Price per Share 1900 1509
Dividend per share 91 88
*times
GLOBE TELECOM
Financial Ratios
2017 2016
Short term Solvency and Liquidity
Current ratio* 0.53 0.47
Quick Ratio* 0.40 0.35
Solvency Ratio 0.19 0.15
Trade Receivables to Working Capital 179832667.30 164011164.14
Asset Liquidity and Management Efficiency
Trade Receivable Turnover* 5.50 6.70
Fixed Asset Turnover* 0.82 0.83
Asset Turnover* 0.34 0.36
Average Collection Period (Days) 66.41 54.48
Payable Turnover* 2.65 2.66
Average Payment Period (Days) 137.58 137.15
Long-Term Financial Stability
Debt Ratio 75.80% 77.16%
Equity Ratio 24.20% 22.84%
Debt to Equity 313.23% 337.75%
Times Interest Earned* 2.02 4.10
Profitability and Return to Investors
Gross Margin 82.93% 84.16%
Operating Profit 9.11% 13.36%
Net profit 8.42% 12.20%
Return On Assets 2.88% 4.33%
Return On Equity 11.91% 18.98%
Earnings Per Share 61.61 92.33
Price/Earnings Ratio* 23.34 14.78
Dividend Payout 1.23 1.15
Financial Leverage* 4.25 4.18
Market Price per Share 1438 1365
Dividend per share 76 106
*times
PLDT INC.
Globe Pldt Globe Pldt
2016 2017
Short term Solvency and Liquidity
Current ratio* 0.64 0.47 0.72 0.53
Quick Ratio* 0.43 0.35 0.48 0.40
Solvency Ratio 0.21 0.15 0.20 0.19
Trade Receivables to Working Capital -0.92 -0.25 -1.24 -0.43
Asset Liquidity and Management Efficiency
Trade Receivable Turnover* 5.19 6.70 4.99 5.50
Fixed Asset Turnover* 0.93 0.83 0.89 0.82
Asset Turnover* 0.57 0.36 0.51 0.34
Average Collection Period (Days) 70.36 54.48 73.18 66.41
Payable Turnover* 1.93 2.66 1.90 2.65
Average Payment Period (Days) 186.40 137.15 189.35 137.58
Long-Term Financial Stability
Debt Ratio 74.60% 77.16% 76.04% 75.80%
Equity Ratio 25.40% 22.84% 23.96% 24.20%
Debt to Equity 293.63% 337.75% 317.33% 313.23%
Times Interest Earned* 7.67 4.10 5.12 2.02
Profitability and Return to Investors
Gross Margin 64.07% 84.16% 64.15% 82.93%
Operating Profit 20.61% 13.36% 19.08% 9.11%
Net profit 12.53% 12.20% 11.15% 8.42%
Return On Assets 7.13% 4.33% 5.72% 2.88%
Return On Equity 24.56% 18.98% 23.21% 11.91%
Earnings Per Share 115.45 92.33 109.22 61.61
Price/Earnings Ratio* 13.07 14.78 17.40 23.34
Dividend Payout 76.22% 114.81% 83.32% 123.36%
Financial Leverage* 3.63 4.18 4.06 4.25
Market Price per Share 1509 1365 1900 1438
Dividend per share 88 106 91 76
*times
Financial Ratios
2016 2017
Short term Solvency and Liquidity
Current Ratio* 0.64 0.72
Quick Ratio* 0.43 0.48
Solvency Ratio 0.21 0.20
Trade Receivables to Working Capital -0.92 -1.24
Asset Liquidity and Management Efficiency
Trade Receivable Turnover* 5.19 4.99
Fixed Asset Turnover* 0.93 0.89
Asset Turnover* 0.57 0.51
Average Collection Period (Days) 70.36 73.18
Payable Turnover* 1.93 1.90
Average Payment Period (Days) 186.40 189.35
Long-Term Financial Stability
Debt Ratio 74.60% 76.04%
Equity Ratio 25.40% 23.96%
Debt to Equity 293.63% 317.33%
Times Interest Earned* 7.67 5.12
Profitability and Return to Investors
Gross Margin 64.07% 64.15%
Operating Profit 20.61% 19.08%
Net profit 12.53% 11.15%
Return On Assets 7.13% 5.72%
Return On Equity 24.56% 23.21%
Earnings Per Share 115.45 109.22
Price/Earnings Ratio* 13.07 17.40
Dividend Payout Ratio 76.22% 83.32%
Financial Leverage* 3.63 4.06
Market Price per Share 1509 1900
Dividend per share 88 91
*times
Ratio Analysis
Horizontal Analysis
2016 2017
ASSETS
Current Assets
Cash and Cash Equivalents 8,632,852 11,222,220 29.99%
Receivables - net 26,994,645 27,304,288 1.33%
Inventories and supplies - net 4,579,954 3,242,689 -29.20%
Derivative assets 68,311 15,043 -77.98%
Prepayments and other current assets 12,796,892 15,730,897 22.93%
TOTAL CURRENT ASSETS 53,072,654 57,515,137 8.47%
Noncurrent Assets
Property, Plant and Equipment - Net 142,251,981 162,602,646 14.31%
Intangible assets and Goodwill - net 14,833,220 14,883,706 0.34%
Investments 34,181,452 35,602,999 4.16%
Deferred income tax assets - net 2,622,703 2,761,626 5.30%
Derivative Assets 755,137 911,358 20.69%
Other Noncurrent Assets 2,195,963 3,488,816 58.87%
TOTAL NONCURRENT ASSETS 196,840,456 220,251,151 11.89%
TOTAL ASSETS 249,913,110 277,766,288 11.17%
Current Liabilities
Accounts Payable and Other Accrued Expenses 59,137,686 62,232,862 5.23%
Notes Payable 4,500,000 -100.00%
Current Portion of long term debt 5,830,319 8,278,222 41.99%
Unearned Revenues 5,090,421 5,509,773 8.24%
Income Tax Payable 1,105,931 1,180,753 6.77%
Provisions 6,631,612 2,064,361 -68.87%
Derivative Liabilities 105,928 191,060 80.37%
TOTAL CURRENT LIABILITIES 82,401,897 79,457,031 -3.57%
Noncurrent Liabilities
Long term debt - net of current portion 95,398,272 123,250,483 29.20%
Deferred income tax liabilities - net 1,916,923 2,748,826 43.40%
Other long term liabilities 6,669,716 5,752,211 -13.76%
TOTAL NONCURRENT LIABILITIES 103,984,911 131,751,520 26.70%
TOTAL LIABILITIES 186,386,808 211,208,551 13.32%
Equity
Paid-up capital 44,505,703 44,757,853 0.57%
Cost of share-based payments 584,586 401,543 -31.31%
Other reserves -1,072,925 -352,375 -67.16%
Retained Earnings 19,422,402 21,708,003 11.77%
Equity attributable to equity holders of the Parent 63,439,766 66,515,024 4.85%
Non-controlling Interest 36,536 42,713 16.91%
TOTAL EQUITY 63,476,302 66,557,737 4.85%
ASSETS
Current Assets
Cash and Cash Equivalents 4.04%
Receivables - net 9.83%
Inventories and supplies - net 1.17%
Derivative assets 5.66%
Prepayments and other current assets 5.66%
TOTAL CURRENT ASSETS 20.71%
Noncurrent Assets
Property, Plant and Equipment - Net 58.54%
Intangible assets and Goodwill - net 5.36%
Investments 12.82%
Deferred income tax assets - net 0.99%
Derivative Assets 0.33%
Other Noncurrent Assets 1.26%
TOTAL NONCURRENT ASSETS 79.29%
TOTAL ASSETS 100.00%
Current Liabilities
Accounts Payable and Other Accrued Expenses 29.47%
Notes Payable 0.00%
Current Portion of long term debt 3.92%
Unearned Revenues 2.61%
Income Tax Payable 0.56%
Provisions 0.98%
Derivative Liabilities 0.09%
TOTAL CURRENT LIABILITIES 28.61%
Noncurrent Liabilities
Long term debt - net of current portion 58.35%
Deferred income tax liabilities - net 1.30%
Other long term liabilities 2.72%
TOTAL NONCURRENT LIABILITIES 47.43%
TOTAL LIABILITIES 76.04%
Equity
Paid-up capital 16.11%
Cost of share-based payments 0.14%
Other reserves -0.13%
Retained Earnings 7.82%
Equity attributable to equity holders of the Parent 23.95%
Non-controlling Interest 0.02%
REVENUES
Service Revenues 94.55%
Nonservice revenues 5.45%
TOTAL REVENUE 100.00%
INCOME (LOSSES)
Gain on fair value of retained interest 1.40%
Equity in net losses of associate and joint ventures -0.63%
Interest Income 0.10%
Gain on disposal of property and equipment-net 0.03%
Other income- net 0.31%
TOTAL INCOME (LOSSES) 1.21%
COST AND EXPENSES
General, selling and administrative expenses 41.85%
Depreciation and amortization 20.34%
Cost of sales 9.62%
Interconnect costs 5.80%
Financing costs 3.88%
Impairment losses and others 3.80%
TOTAL COST AND EXPENSES 85.29%
INCOME BEFORE INCOME TAX 15.92%
PROVISION FOR INCOME TAX
Current Tax 4.44%
Deferred Tax 0.33%
4.77%
NET INCOME 11.15%
OTHER COMPREHENSIVE INCOME (LOSS)
Item that will not be reclassified into profit or loss in subsequent periods:
Remeasurement gains (losses) on defined benefit plan-net 0.30%
Items that will be reclassified into profit or loss in subsequent periods:
Transactions on cash flow hedges - net 0.10%
Changes in fair value of available-for-sale investment in equity securities 0.02%
Exchange differences arising from transalations of foreign investments -0.02%
Other comprehensive income(loss), net of tax 0.40%
TOTAL COMPREHENSIVE INCOME 11.55%
2016 Industry 2017
Short term Solvency and Liquidity
Current ratio* 0.64 0.58 0.72
Quick Ratio* 0.43 0.54 0.48
Solvency Ratio 0.21 0.20 0.20
Asset Liquidity and Management Efficiency
Trade Receivable Turnover* 5.19 5.52 4.99
Asset Turnover* 0.57 0.49 0.51
Long-Term Financial Stability
Debt to Equity 293.63% 137.14% 317.33%
Profitability and Return to Investors
Gross Margin 64.07% 89.17% 64.15%
Operating Profit 20.61% 14.95% 19.08%
Net profit 12.53% 8.78% 11.15%
Return On Asset 7.13% 5.74% 5.72%
Return On Equity 24.56% 21.29% 23.21%
Earnings Per Share 115.45 108.95 109.22
P/E Ratio* 13.07 21.40 17.40
Dividend Payout 76.22% 110.50% 83.32%
Dividend Yield 5.83% 5.10% 4.79%
*times