Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Manila Electric CoPHS:MER -0.33%96 Cash-to-Debt is 0.49 as of Jun. 2026, which is 48% below its 10-year median of 0.94. GuruFocus rates PHS:MER with a GF Score™ of 96/100 and a GF Value™ of ₱561.82 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 482 Utilities - Regulated companies, Manila Electric Co ranks better than 66.8% on this metric.
Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Manila Electric Co's cash to debt ratio for the quarter that ended in Jun. 2026 was 0.49.
If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Manila Electric Cocouldn't pay off its debt using the cash in hand for the quarter that ended in Jun. 2026.
The historical rank and industry rank for Manila Electric Co's Cash-to-Debt or its related term are showing as below:
PHS:MER'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.42 Med: 0.94 Max: 2.11
Current: 0.49
During the past 13 years, Manila Electric Co's highest Cash to Debt Ratio was 2.11. The lowest was 0.42. And the median was 0.94.
PHS:MER's Cash-to-Debt is ranked better than 66.8% of 482
companies
in the Utilities - Regulated industry
Industry Median: 0.22
vs PHS:MER: 0.49
Manila Electric Co (PHS:MER) Cash-to-Debt Explanation
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Manila Electric Co Cash-to-Debt Related Terms
Manila Electric Co Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Manila Electric Co's Cash-to-Debt can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
For the Utilities - Regulated Electric subindustry, Manila Electric Co's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Manila Electric Co Cash-to-Debt vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Electric Co's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Manila Electric Co's Cash-to-Debt falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Manila Electric Co (PHS:MER) has a Cash-to-Debt of 0.49 as of Jun. 2026. This is 48% below median its historical median of 0.94. Over the past decade, Manila Electric Co's Cash-to-Debt has ranged from 0.42 to 2.11. According to the industry distribution chart, Manila Electric Co ranks #160 out of 482 companies in the Utilities - Regulated industry, placing it in the top 33.2%.
Is Manila Electric Co's Cash-to-Debt too high?
Manila Electric Co's current Cash-to-Debt of 0.49 is 48% below median its 10-year median of 0.94. Over the past 10 years, this metric has ranged from a low of 0.42 to a high of 2.11. The Utilities - Regulated industry median Cash-to-Debt is 0.22. Manila Electric Co's value of 0.49 is 122.7% above this industry median. Based on the distribution chart, Manila Electric Co ranks #160 out of 482 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Manila Electric Co has a GF Score™ of 96/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Manila Electric Co's Cash-to-Debt compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Manila Electric Co ranks #160 out of 482 companies for Cash-to-Debt. This puts Manila Electric Co in the upper half of its industry. The industry median Cash-to-Debt is 0.22. Manila Electric Co's value of 0.49 is 122.7% above this benchmark. Historically, Manila Electric Co's own Cash-to-Debt has ranged from 0.42 to 2.11 over the past decade. While the company's 10-year median is 0.94 vs. the industry median of 0.22, Manila Electric Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for an Utilities - Regulated company?
The median Cash-to-Debt among Utilities - Regulated companies is 0.22, based on 482 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manila Electric Co's current Cash-to-Debt of 0.49 is 122.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Utilities - Regulated industry, the median Cash-to-Debt is 0.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manila Electric Co's current Cash-to-Debt is 0.49, which is 48% below median its own 10-year median of 0.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Manila Electric Co stock overvalued right now?
Based on GuruFocus' analysis, Manila Electric Co (PHS:MER) is currently considered Modestly Undervalued. The stock's GF Value™ is ₱561.82, compared to a current price of ₱490.00 — trading 12.8% below its estimated fair value. The current Cash-to-Debt is 0.49, which is 48% below median its 10-year median of 0.94 and 122.7% above the Utilities - Regulated industry median of 0.22. Manila Electric Co's overall GF Score™ is 96/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Manila Electric Co (PHS:MER), the current Cash-to-Debt is 0.49 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Manila Electric Co (PHS:MER) Overvalued in 2026?
Based on GuruFocus' analysis, Manila Electric Co stock appears to be undervalued.
The current stock price of ₱490.00 is trading 12.8% below its estimated GF Value™ of ₱561.82.
GuruFocus considers Manila Electric Co to be Modestly Undervalued.
Key valuation signals for PHS:MER:
Cash-to-Debt: 0.49 (48% below median its 10-year median of 0.94)
GF Value™: ₱561.82 vs. price of ₱490.00 (12.8% below fair value)
Industry Position: 122.7% above the Utilities - Regulated median (#160 of 482)
No single metric tells the full story. See the PHS:MER stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Manila Electric Co is an electric utility company operating in the Philippines. Along with its subsidiaries, it is mainly engaged in the distribution and sale of electric energy through the distribution network facilities in its franchise area. The company's market is categorized into four classes, namely, residential, commercial, industrial, and streetlights. Additionally, it is involved in certain unregulated activities, which consist of power generation; retail electricity supply (RES); energy infrastructure, payment fulfilment, bills collection, after-the-meter and energy management, telecommunications services, insurance and re-insurance, and other businesses. The group's reportable segments are: Power and Other Services. The majority of its revenue is derived from the Power segment.
96GF Score
Get the complete analysis for PHS:MER
Cash-to-Debt is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PHS:MER has been successfully added to your 
