Manila Electric CoPHS:MER -0.17%94 Debt-to-EBITDA is 3.04 as of Mar. 2026, which is 158% above its 10-year median of 1.18. GuruFocus rates PHS:MER with a GF Score™ of 94/100 and a GF Value™ of ₱529.92 (Fairly Valued). The stock has 6 warning signs investors should review. Among 448 Utilities - Regulated companies, Manila Electric Co ranks better than 64.06% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Manila Electric Co's Debt-to-EBITDA or its related term are showing as below:
PHS:MER'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.94 Med: 1.18 Max: 2.63
Current: 2.63
During the past 13 years, the highest Debt-to-EBITDA Ratio of Manila Electric Co was 2.63. The lowest was 0.94. And the median was 1.18.
PHS:MER's Debt-to-EBITDA is ranked better than 64.06% of 448
companies
in the Utilities - Regulated industry
Industry Median: 3.99
vs PHS:MER: 2.63
Manila Electric Co (PHS:MER) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Manila Electric Co Debt-to-EBITDA Related Terms
Manila Electric Co Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Manila Electric Co's Debt-to-EBITDA 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.
PHS:MER vs NEE, SO, DUK: Debt-to-EBITDA Comparison
For the Utilities - Regulated Electric subindustry, Manila Electric Co's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 Debt-to-EBITDA vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Electric Co's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Manila Electric Co's Debt-to-EBITDA 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Manila Electric Co (PHS:MER) has a Debt-to-EBITDA of 3.04 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Manila Electric Co. This is 158% above median its historical median of 1.18. Over the past decade, Manila Electric Co's Debt-to-EBITDA has ranged from 0.94 to 2.63. According to the industry distribution chart, Manila Electric Co ranks #161 out of 448 companies in the Utilities - Regulated industry, placing it in the top 35.9%.
Is Manila Electric Co's Debt-to-EBITDA too high?
Manila Electric Co's current Debt-to-EBITDA of 3.04 is 158% above median its 10-year median of 1.18. Over the past 10 years, this metric has ranged from a low of 0.94 to a high of 2.63. The Utilities - Regulated industry median Debt-to-EBITDA is 3.99. Manila Electric Co's value of 3.04 is 23.8% below this industry median. Based on the distribution chart, Manila Electric Co ranks #161 out of 448 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Manila Electric Co has a GF Score™ of 94/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Manila Electric Co's Debt-to-EBITDA compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Manila Electric Co ranks #161 out of 448 companies for Debt-to-EBITDA. This puts Manila Electric Co in the upper half of its industry. The industry median Debt-to-EBITDA is 3.99. Manila Electric Co's value of 3.04 is 23.8% below this benchmark. Historically, Manila Electric Co's own Debt-to-EBITDA has ranged from 0.94 to 2.63 over the past decade. While the company's 10-year median is 1.18 vs. the industry median of 3.99, Manila Electric Co has consistently been below 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 Debt-to-EBITDA for an Utilities - Regulated company?
The median Debt-to-EBITDA among Utilities - Regulated companies is 3.99, based on 448 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manila Electric Co's current Debt-to-EBITDA of 3.04 is 23.8% below 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 Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Manila Electric Co. For the Utilities - Regulated industry, the median Debt-to-EBITDA is 3.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manila Electric Co's current Debt-to-EBITDA is 3.04, which is 158% above median its own 10-year median of 1.18. 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 Fairly Valued. The stock's GF Value™ is ₱529.92, compared to a current price of ₱577.00 — trading 8.9% above its estimated fair value. The current Debt-to-EBITDA is 3.04, which is 158% above median its 10-year median of 1.18 and 23.8% below the Utilities - Regulated industry median of 3.99. Manila Electric Co's overall GF Score™ is 94/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Manila Electric Co (PHS:MER), the current Debt-to-EBITDA is 3.04 as of Mar. 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 overvalued.
The current stock price of ₱577.00 is trading 8.9% above its estimated GF Value™ of ₱529.92.
GuruFocus considers Manila Electric Co to be Fairly Valued.
Key valuation signals for PHS:MER:
Debt-to-EBITDA: 3.04 (158% above median its 10-year median of 1.18)
GF Value™: ₱529.92 vs. price of ₱577.00 (8.9% above fair value)
Industry Position: 23.8% below the Utilities - Regulated median (#161 of 448)
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.
94GF Score
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