Aboitiz Power (PHS:AP) Operating Income: ₱37,651 Mil (TTM As of Dec. 2025)


PHS:AP Aboitiz Power Corp PHS:AP
95 GF Score
Price ₱40.40
GF Value ₱37.67
Valuation Fairly Valued
! 7 Warning Signs
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What is Aboitiz Power Operating Income?

Aboitiz Power PHS:AP -3.00% 95 Operating Income is ₱37,651 Mil as of Dec. 2025. GuruFocus rates PHS:AP with a GF Score™ of 95/100 and a GF Value™ of ₱37.67 (Fairly Valued). The stock has 7 warning signs investors should review.

Aboitiz Power's Operating Income for the three months ended in Dec. 2025 was ₱11,307 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was ₱37,651 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Aboitiz Power's Operating Income for the three months ended in Dec. 2025 was ₱11,307 Mil. Aboitiz Power's Revenue for the three months ended in Dec. 2025 was ₱54,152 Mil. Therefore, Aboitiz Power's Operating Margin % for the quarter that ended in Dec. 2025 was 20.88%.

Warning Sign:

Aboitiz Power Corp operating margin has been in a 5-year decline. The average rate of decline per year is -3.6%.

Aboitiz Power's 5-Year average Growth Rate for Operating Margin % was -3.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Aboitiz Power's annualized ROC % for the quarter that ended in Dec. 2025 was 7.93%. Aboitiz Power's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 5.16%.


Aboitiz Power  (PHS:AP) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Aboitiz Power's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=45227.676 * ( 1 - 0% )/( (536398.765 + 603877.235)/ 2 )
=45227.676/570138
=7.93 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=584318.166 - 36715.909 - ( 62622.484 - max(0, 110688.277 - 121891.769+62622.484))
=536398.765

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=622797.852 - 48886.769 - ( 58932.061 - max(0, 156955.681 - 126989.529+58932.061))
=603877.235

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Aboitiz Power's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=12805.352/( ( (231015.973 + max(17667.034, 0)) + (235588.441 + max(12271.753, 0)) )/ 2 )
=12805.352/( ( 248683.007 + 247860.194 )/ 2 )
=12805.352/248271.6005
=5.16 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(29949.034 + 12259.761 + 13248.675) - (36715.909 + 0 + 1074.527)
=17667.034

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(32899.239 + 13238.116 + 16124.82) - (48886.769 + 0 + 1103.653)
=12271.753

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Aboitiz Power's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=11306.919/54152.319
=20.88 %

* 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.

4. 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 Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Aboitiz Power Operating Income Related Terms


Aboitiz Power Operating Income Historical Data

* Premium members only.

The historical data trend for Aboitiz Power's Operating Income 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.

Aboitiz Power Operating Income Chart

Aboitiz Power Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 28,427.32 29,991.94 32,063.88 41,586.38 37,692.72

Aboitiz Power Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Operating Income 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 10,228.19 6,956.02 7,360.22 12,027.35 11,306.92
PHS:AP
95GF Score
Aboitiz Power Corp PHS:AP
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Aboitiz Power Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was ₱37,651 Mil.

* 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of ₱37,651 Mil mean?
Aboitiz Power (PHS:AP) has a Operating Income of ₱37,651 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Aboitiz Power and its competitors.
Is Aboitiz Power's Operating Income too high?
Aboitiz Power's current Operating Income is ₱37,651 Mil. Overall, Aboitiz Power has a GF Score™ of 95/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Aboitiz Power's Operating Income compare to NEE and SO?
Aboitiz Power's Operating Income of ₱37,651 Mil can be compared against companies in the Utilities - Regulated industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Utilities - Regulated company?
A good Operating Income depends on the Utilities - Regulated industry context. However, Operating Income 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 Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Aboitiz Power and its competitors. Aboitiz Power's current Operating Income is ₱37,651 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aboitiz Power stock overvalued right now?
Based on GuruFocus' analysis, Aboitiz Power (PHS:AP) is currently considered Fairly Valued. The stock's GF Value™ is ₱37.67, compared to a current price of ₱40.40 — trading 7.2% above its estimated fair value. The current Operating Income is ₱37,651 Mil. Aboitiz Power's overall GF Score™ is 95/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Aboitiz Power (PHS:AP), the current Operating Income is ₱37,651 Mil as of Dec. 2025. 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 Aboitiz Power (PHS:AP) Overvalued in 2026?

Based on GuruFocus' analysis, Aboitiz Power stock appears to be overvalued. The current stock price of ₱40.40 is trading 7.2% above its estimated GF Value™ of ₱37.67. GuruFocus considers Aboitiz Power to be Fairly Valued.

Key valuation signals for PHS:AP:

  • Operating Income: ₱37,651 Mil
  • GF Value™: ₱37.67 vs. price of ₱40.40 (7.2% above fair value)
  • GF Score™: 95/100 with 7 warning signs

No single metric tells the full story. See the PHS:AP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Aboitiz Power Business Description

Other Exchanges ABZPY:USA
Address Makati Avenue, 11 Floor & 12 Floor Ayala Triangle Gardens, Tower 2, Paseo De Roxas corner, NCR Second District, Bel-Air, Makati, PHL, 1209
Aboitiz Power Corp is an electric utility company operating in the Philippines of which Aboitiz Equity Ventures is the majority shareholder. Through its subsidiaries, Aboitiz Power generates and distributes electricity. The company controls a portfolio of geothermal, hydroelectric, solar, wind, oil-fired, and coal-fired power plants. The company's sites, meanwhile, are mainly hydroelectric. The vast majority of the company's income is derived from its power generation business. Almost all sales are made through bilateral contracts with private utilities, the country's state-owned power provider, and industrial and commercial customers.
95GF Score

Get the complete analysis for PHS:AP

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₱40.40
Price
₱37.67
GF Value