Manila Electric CoPHS:MER -1.21%93 PB Ratio is 3.88 as of Jun. 24, 2026, which is 6% below its 10-year median of 4.12. GuruFocus rates PHS:MER with a GF Score™ of 93/100 and a GF Value™ of ₱528.22 (Fairly Valued). The stock has 9 warning signs investors should review. Among 502 Utilities - Regulated companies, Manila Electric Co ranks worse than 90.84% on this metric.
The historical rank and industry rank for Manila Electric Co's PB Ratio or its related term are showing as below:
PHS:MER'
s PB Ratio Range Over the Past 10 Years
Min: 2.68 Med: 4.12 Max: 5.88
Current: 3.87
During the past 13 years, Manila Electric Co's highest PB Ratio was 5.88. The lowest was 2.68. And the median was 4.12.
PHS:MER's PB Ratio is ranked worse than 90.84% of 502
companies
in the Utilities - Regulated industry
Industry Median: 1.43
vs PHS:MER: 3.87
During the past 12 months, Manila Electric Co's average Book Value Per Share Growth Rate was 17.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 16.40% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 16.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 8.30% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Manila Electric Co was 16.40% per year. The lowest was -2.40% per year. And the median was 5.40% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Manila Electric Co PB Ratio Related Terms
Manila Electric Co PB Ratio Historical Data
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The historical data trend for Manila Electric Co's PB Ratio 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.
For the Utilities - Regulated Electric subindustry, Manila Electric Co's PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Electric Co's PB Ratio distribution charts can be found below:
* The bar in red indicates where Manila Electric Co's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Manila Electric Co (PHS:MER) has a PB Ratio of 3.88 as of Jun. 24, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Manila Electric Co and its competitors. This is near median its historical median of 4.12. Over the past decade, Manila Electric Co's PB Ratio has ranged from 2.68 to 5.88. According to the industry distribution chart, Manila Electric Co ranks #456 out of 502 companies in the Utilities - Regulated industry, placing it in the top 90.8%.
Is Manila Electric Co's PB Ratio too high?
Manila Electric Co's current PB Ratio of 3.88 is near median its 10-year median of 4.12. Over the past 10 years, this metric has ranged from a low of 2.68 to a high of 5.88. The Utilities - Regulated industry median PB Ratio is 1.43. Manila Electric Co's value of 3.88 is 171.3% above this industry median. Based on the distribution chart, Manila Electric Co ranks #456 out of 502 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 Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Manila Electric Co's PB Ratio compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Manila Electric Co ranks #456 out of 502 companies for PB Ratio. This places Manila Electric Co in the lower half of its industry. The industry median PB Ratio is 1.43. Manila Electric Co's value of 3.88 is 171.3% above this benchmark. Historically, Manila Electric Co's own PB Ratio has ranged from 2.68 to 5.88 over the past decade. While the company's 10-year median is 4.12 vs. the industry median of 1.43, 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 PB Ratio for an Utilities - Regulated company?
The median PB Ratio among Utilities - Regulated companies is 1.43, based on 502 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manila Electric Co's current PB Ratio of 3.88 is 171.3% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Manila Electric Co and its competitors. For the Utilities - Regulated industry, the median PB Ratio is 1.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manila Electric Co's current PB Ratio is 3.88, which is near median its own 10-year median of 4.12. 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 ₱528.22, compared to a current price of ₱573.00 — trading 8.5% above its estimated fair value. The current PB Ratio is 3.88, which is near median its 10-year median of 4.12 and 171.3% above the Utilities - Regulated industry median of 1.43. Manila Electric Co's overall GF Score™ is 93/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Manila Electric Co (PHS:MER), the current PB Ratio is 3.88 as of Jun. 24, 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 ₱573.00 is trading 8.5% above its estimated GF Value™ of ₱528.22.
GuruFocus considers Manila Electric Co to be Fairly Valued.
Key valuation signals for PHS:MER:
PB Ratio: 3.88 (near median its 10-year median of 4.12)
GF Value™: ₱528.22 vs. price of ₱573.00 (8.5% above fair value)
Industry Position: 171.3% above the Utilities - Regulated median (#456 of 502)
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
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