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Manila Electric CoPHS:MER -2.65%93 Intrinsic Value: Projected FCF is ₱41.11 as of Aug. 19, 2026, which is 100% below its 10-year median of 1.37. GuruFocus rates PHS:MER with a GF Score™ of 93/100 and a GF Value™ of ₱561.80 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 377 Utilities - Regulated companies, Manila Electric Co ranks worse than 96.02% on this metric.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2026-08-19), Manila Electric Co's Intrinsic Value: Projected FCF is ₱41.11. The stock price of Manila Electric Co is ₱489.20. Therefore, Manila Electric Co's Price-to-Intrinsic-Value-Projected-FCF of today is 11.9.
The historical rank and industry rank for Manila Electric Co's Intrinsic Value: Projected FCF or its related term are showing as below:
PHS:MER'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 0.84 Med: 1.37 Max: 13.87
Current: 11.9
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Manila Electric Co was 13.87. The lowest was 0.84. And the median was 1.37.
PHS:MER's Price-to-Projected-FCF is ranked worse than 96.02% of 377
companies
in the Utilities - Regulated industry
Industry Median: 1.02
vs PHS:MER: 11.90
Manila Electric Co (PHS:MER) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Manila Electric Co's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
489.20
/
41.106977835051
=
11.90
* 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 Intrinsic Value: Projected FCF Related Terms
Manila Electric Co Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for Manila Electric Co's Intrinsic Value: Projected FCF 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 Intrinsic Value: Projected FCF Chart
PHS:MER vs NEE, SO, DUK: Intrinsic Value: Projected FCF Comparison
For the Utilities - Regulated Electric subindustry, Manila Electric Co's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF 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 Price-to-Projected-FCF vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Electric Co's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Manila Electric Co's Price-to-Projected-FCF falls into.
Manila Electric Co Intrinsic Value: Projected FCF Calculation
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* 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.
What does a Intrinsic Value: Projected FCF of ₱41.11 mean?
Manila Electric Co (PHS:MER) has a Intrinsic Value: Projected FCF of ₱41.11 as of Aug. 19, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Manila Electric Co and its competitors. This is 2901% above median its historical median of 1.37. Over the past decade, Manila Electric Co's Intrinsic Value: Projected FCF has ranged from 0.84 to 13.87. According to the industry distribution chart, Manila Electric Co ranks #362 out of 377 companies in the Utilities - Regulated industry, placing it in the top 96%.
Is Manila Electric Co's Intrinsic Value: Projected FCF too high?
Manila Electric Co's current Intrinsic Value: Projected FCF of ₱41.11 is 2901% above median its 10-year median of 1.37. Over the past 10 years, this metric has ranged from a low of 0.84 to a high of 13.87. Based on the distribution chart, Manila Electric Co ranks #362 out of 377 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Manila Electric Co has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Manila Electric Co's Intrinsic Value: Projected FCF compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Manila Electric Co ranks #362 out of 377 companies for Intrinsic Value: Projected FCF. This places Manila Electric Co in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 1.02. Historically, Manila Electric Co's own Intrinsic Value: Projected FCF has ranged from 0.84 to 13.87 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for an Utilities - Regulated company?
The median Intrinsic Value: Projected FCF among Utilities - Regulated companies is 1.02, based on 377 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Manila Electric Co and its competitors. For the Utilities - Regulated industry, the median Intrinsic Value: Projected FCF is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manila Electric Co's current Intrinsic Value: Projected FCF is ₱41.11, which is 2901% above median its own 10-year median of 1.37. 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 ₱561.80, compared to a current price of ₱489.20 — trading 12.9% below its estimated fair value. The current Intrinsic Value: Projected FCF is ₱41.11, which is 2901% above median its 10-year median of 1.37. Manila Electric Co's overall GF Score™ is 93/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Manila Electric Co (PHS:MER), the current Intrinsic Value: Projected FCF is ₱41.11 as of Aug. 19, 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 ₱489.20 is trading 12.9% below its estimated GF Value™ of ₱561.80.
GuruFocus considers Manila Electric Co to be Modestly Undervalued.
Key valuation signals for PHS:MER:
Intrinsic Value: Projected FCF: ₱41.11 (2901% above median its 10-year median of 1.37)
GF Value™: ₱561.80 vs. price of ₱489.20 (12.9% below fair value)
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.
93GF Score
Get the complete analysis for PHS:MER
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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