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Manila Electric CoPHS:MER -1.04%94 Earnings Yield (Joel Greenblatt) % is 8.35% as of Mar. 2026, which is 7% below its 10-year median of 8.95. GuruFocus rates PHS:MER with a GF Score™ of 94/100 and a GF Value™ of ₱530.69 (Fairly Valued). The stock has 6 warning signs investors should review. Among 510 Utilities - Regulated companies, Manila Electric Co ranks better than 65.69% on this metric.
Manila Electric Co's Enterprise Value for the quarter that ended in Mar. 2026 was ₱870,336 Mil.
Manila Electric Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was ₱72,689 Mil. Manila Electric Co's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2026 was 8.35%.
The historical rank and industry rank for Manila Electric Co's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
PHS:MER'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 6.72 Med: 8.95 Max: 17.16
Current: 8.9
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Manila Electric Co was 17.16%. The lowest was 6.72%. And the median was 8.95%.
PHS:MER's Earnings Yield (Joel Greenblatt) % is ranked better than 65.69% of 510
companies
in the Utilities - Regulated industry
Industry Median: 6.54
vs PHS:MER: 8.90
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Manila Electric Co's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 17.09%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Manila Electric Co (PHS:MER) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Manila Electric Co Earnings Yield (Joel Greenblatt) % Related Terms
Manila Electric Co Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Manila Electric Co's Earnings Yield (Joel Greenblatt) % 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.
Manila Electric Co Earnings Yield (Joel Greenblatt) % Chart
PHS:MER vs NEE, SO, DUK: Earnings Yield (Joel Greenblatt) % Comparison
For the Utilities - Regulated Electric subindustry, Manila Electric Co's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % 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 Earnings Yield (Joel Greenblatt) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Electric Co's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Manila Electric Co's Earnings Yield (Joel Greenblatt) % falls into.
Manila Electric Co Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Manila Electric Cos Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Manila Electric Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₱72,689 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 8.35% mean?
Manila Electric Co (PHS:MER) has a Earnings Yield (Joel Greenblatt) % of 8.35% as of Mar. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Manila Electric Co and its competitors. This is near median its historical median of 8.95. Over the past decade, Manila Electric Co's Earnings Yield (Joel Greenblatt) % has ranged from 6.72 to 17.16. According to the industry distribution chart, Manila Electric Co ranks #175 out of 510 companies in the Utilities - Regulated industry, placing it in the top 34.3%.
Is Manila Electric Co's Earnings Yield (Joel Greenblatt) % too high?
Manila Electric Co's current Earnings Yield (Joel Greenblatt) % of 8.35% is near median its 10-year median of 8.95. Over the past 10 years, this metric has ranged from a low of 6.72 to a high of 17.16. The Utilities - Regulated industry median Earnings Yield (Joel Greenblatt) % is 6.54. Manila Electric Co's value of 8.35% is 27.7% above this industry median. Based on the distribution chart, Manila Electric Co ranks #175 out of 510 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 Earnings Yield (Joel Greenblatt) % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Manila Electric Co ranks #175 out of 510 companies for Earnings Yield (Joel Greenblatt) %. This puts Manila Electric Co in the upper half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 6.54. Manila Electric Co's value of 8.35% is 27.7% above this benchmark. Historically, Manila Electric Co's own Earnings Yield (Joel Greenblatt) % has ranged from 6.72 to 17.16 over the past decade. While the company's 10-year median is 8.95 vs. the industry median of 6.54, 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 Earnings Yield (Joel Greenblatt) % for an Utilities - Regulated company?
The median Earnings Yield (Joel Greenblatt) % among Utilities - Regulated companies is 6.54, based on 510 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manila Electric Co's current Earnings Yield (Joel Greenblatt) % of 8.35% is 27.7% 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 Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Manila Electric Co and its competitors. For the Utilities - Regulated industry, the median Earnings Yield (Joel Greenblatt) % is 6.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manila Electric Co's current Earnings Yield (Joel Greenblatt) % is 8.35%, which is near median its own 10-year median of 8.95. 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 ₱530.69, compared to a current price of ₱570.00 — trading 7.4% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 8.35%, which is near median its 10-year median of 8.95 and 27.7% above the Utilities - Regulated industry median of 6.54. 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 Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Manila Electric Co (PHS:MER), the current Earnings Yield (Joel Greenblatt) % is 8.35% 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 ₱570.00 is trading 7.4% above its estimated GF Value™ of ₱530.69.
GuruFocus considers Manila Electric Co to be Fairly Valued.
Key valuation signals for PHS:MER:
Earnings Yield (Joel Greenblatt) %: 8.35% (near median its 10-year median of 8.95)
GF Value™: ₱530.69 vs. price of ₱570.00 (7.4% above fair value)
Industry Position: 27.7% above the Utilities - Regulated median (#175 of 510)
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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