Company Valuation: Aboitiz Power Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,18,551 2,50,560 2,72,381 2,71,661 3,17,058 2,95,080 - -
Change - 14.65% 8.71% -0.26% 16.71% -6.93% - -
Enterprise Value (EV) 1 3,95,858 4,34,193 4,54,988 4,58,102 5,90,652 5,83,817 5,85,127 6,14,654
Change - 9.68% 4.79% 0.68% 28.93% -1.16% 0.22% 5.05%
P/E 10.5x 9.1x 8.36x 8.02x 16.3x 8.26x 7.62x 6.83x
PBR 1.48x 1.46x 1.54x 1.34x 1.58x 1.34x 1.24x 1.18x
PEG - 0.3x 0.4x 2.01x -0.4x 0.1x 0.91x 0.6x
Capitalization / Revenue 1.99x 1.29x 1.32x 1.38x 1.6x 1.33x 1.22x 1.2x
EV / Revenue 3.6x 2.24x 2.2x 2.32x 2.98x 2.64x 2.42x 2.49x
EV / EBITDA 7.85x 7.78x 6.7x 6.39x 11x 10.5x 9.8x 9.89x
EV / EBIT 10.1x 9.88x 14.3x 11.1x 15.7x 14x 12.1x 12.5x
EV / FCF 14.1x 20.5x 14.6x 19.1x 24.3x 41.5x 12.1x 14.7x
FCF Yield 7.08% 4.88% 6.83% 5.23% 4.11% 2.41% 8.24% 6.8%
Dividend per Share 2 0.85 1.87 2.3 1.45 2.28 2.316 2.36 2.483
Rate of return 2.86% 5.49% 6.08% 3.85% 5.18% 5.66% 5.76% 6.06%
EPS 2 2.83 3.74 4.52 4.7 2.7 4.958 5.375 5.999
Distribution rate 30% 50% 50.9% 30.9% 84.4% 46.7% 43.9% 41.4%
Net sales 1 1,10,043 1,93,994 2,07,100 1,97,492 1,98,479 2,21,170 2,42,266 2,46,656
EBITDA 1 50,401 55,813 67,914 71,734 53,733 55,667 59,681 62,175
EBIT 1 39,115 43,960 31,785 41,195 37,506 41,682 48,245 49,131
Net income 1 20,837 27,535 33,102 33,900 19,450 35,793 39,180 43,344
Net Debt 1 1,77,307 1,83,633 1,82,606 1,86,441 2,73,595 2,88,737 2,90,047 3,19,574
Reference price 2 29.70 34.05 37.80 37.70 44.00 40.95 40.95 40.95
Nbr of stocks (in thousands) 73,58,604 73,58,604 72,05,854 72,05,854 72,05,854 72,05,854 - -
Announcement Date 09/03/22 19/03/23 12/03/24 17/03/25 30/03/26 - - -
1PHP in Million2PHP
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.23x2.63x10.47x5.68% 476.88Cr
7.93x1.79x7.4x6.16% 1.43TCr
38.31x7.81x14.03x0.4% 1.03TCr
12.02x - - - 999.63Cr
11.43x - - - 563.01Cr
10x - - - 543.56Cr
44.29x - - - 499.15Cr
34.69x4.23x13.08x2.3% 439.32Cr
24.93x2.86x12.4x2.36% 436.95Cr
Average 21.31x 3.86x 11.48x 3.38% 713.83Cr
Weighted average by Cap. 19.77x 3.93x 10.80x 3.66%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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