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Manila Electric Co (PHS:MER) Cyclically Adjusted Revenue per Share : ₱354.19 (As of Mar. 2025)


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What is Manila Electric Co Cyclically Adjusted Revenue per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

Manila Electric Co's adjusted revenue per share for the three months ended in Mar. 2025 was ₱101.607. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is ₱354.19 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Manila Electric Co's average Cyclically Adjusted Revenue Growth Rate was -100.00% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 6.40% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 5.90% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Manila Electric Co was 6.80% per year. The lowest was 3.80% per year. And the median was 5.50% per year.

As of today (2025-05-21), Manila Electric Co's current stock price is ₱555.00. Manila Electric Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2025 was ₱354.19. Manila Electric Co's Cyclically Adjusted PS Ratio of today is 1.57.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Manila Electric Co was 1.58. The lowest was 0.75. And the median was 1.14.


Manila Electric Co Cyclically Adjusted Revenue per Share Historical Data

The historical data trend for Manila Electric Co's Cyclically Adjusted Revenue per Share 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.

* Premium members only.

Manila Electric Co Cyclically Adjusted Revenue per Share Chart

Manila Electric Co Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 268.46 287.89 311.91 327.07 346.94

Manila Electric Co Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted Revenue per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 335.84 340.61 343.98 346.94 354.19

Competitive Comparison of Manila Electric Co's Cyclically Adjusted Revenue per Share

For the Utilities - Regulated Electric subindustry, Manila Electric Co's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio 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's Cyclically Adjusted PS Ratio Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Manila Electric Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Manila Electric Co's Cyclically Adjusted PS Ratio falls into.


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Manila Electric Co Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Manila Electric Co's adjusted Revenue per Share data for the three months ended in Mar. 2025 was:

Adj_RevenuePerShare= Revenue per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=101.607/134.9266*134.9266
=101.607

Current CPI (Mar. 2025) = 134.9266.

Manila Electric Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201506 63.370 100.684 84.922
201509 55.935 100.392 75.177
201512 54.438 99.792 73.604
201603 53.392 100.470 71.703
201606 60.897 101.688 80.802
201609 58.882 101.861 77.996
201612 55.028 101.863 72.890
201703 59.074 102.862 77.489
201706 66.066 103.349 86.252
201709 65.091 104.136 84.337
201712 60.485 104.011 78.463
201803 62.828 105.290 80.513
201806 70.752 106.317 89.791
201809 68.205 106.507 86.405
201812 68.361 105.998 87.018
201903 66.884 107.251 84.143
201906 79.481 108.070 99.233
201909 67.589 108.329 84.184
201912 68.491 108.420 85.236
202003 62.138 108.902 76.988
202006 64.086 108.767 79.499
202009 63.846 109.815 78.446
202012 54.211 109.897 66.558
202103 57.420 111.754 69.326
202106 74.876 114.631 88.133
202109 73.310 115.734 85.467
202112 77.045 117.630 88.374
202203 76.224 121.301 84.786
202206 100.888 125.017 108.885
202209 102.287 125.227 110.210
202212 99.064 125.222 106.742
202303 93.737 127.348 99.316
202306 105.748 128.729 110.839
202309 97.969 129.860 101.792
202312 96.168 129.419 100.260
202403 92.767 131.776 94.985
202406 117.949 132.554 120.060
202409 104.655 133.029 106.148
202412 101.987 133.157 103.342
202503 101.607 134.927 101.607

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.


Manila Electric Co  (PHS:MER) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Manila Electric Co's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=555.00/354.19
=1.57

* 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.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Manila Electric Co was 1.58. The lowest was 0.75. And the median was 1.14.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


Manila Electric Co Cyclically Adjusted Revenue per Share Related Terms

Thank you for viewing the detailed overview of Manila Electric Co's Cyclically Adjusted Revenue per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Manila Electric Co Business Description

Industry
Traded in Other Exchanges
Address
Ortigas Avenue, Barangay Ugong, Lopez Building, Pasig, PHL, 1605
Manila Electric Co, or Meralco, is an electric utility company serving the Philippines. Meralco generates, transmits, and distributes electricity through its portfolio of thermal power plants. The vast majority of the energy produced by the company comes from its natural gas and coal facilities. Meralco generates almost all of its revenue through the sale of electricity. While nearly all of the company's customers are residential entities, total energy sales are split fairly evenly between commercial, industrial, and residential customers. Meralco is the electric distribution company in the Philippines and serves dozens of cities and municipalities, including Metropolitan Manila.

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