First Philippine HoldingsPHS:FPH -1.84%56 Return-on-Tangible-Asset is 3.33% as of Mar. 2026, which is at its 10-year median of 3.33. GuruFocus rates PHS:FPH with a GF Score™ of 56/100 and a GF Value™ of ₱58.24 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 510 Utilities - Regulated companies, First Philippine Holdings ranks better than 56.67% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. First Philippine Holdings's annualizedNet Income for the quarter that ended in Mar. 2026 was ₱17,956 Mil. First Philippine Holdings's average total tangible assets for the quarter that ended in Mar. 2026 was ₱539,941 Mil. Therefore, First Philippine Holdings's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 3.33%.
The historical rank and industry rank for First Philippine Holdings's Return-on-Tangible-Asset or its related term are showing as below:
PHS:FPH'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.92 Med: 3.33 Max: 4.07
Current: 3.88
During the past 13 years, First Philippine Holdings's highest Return-on-Tangible-Asset was 4.07%. The lowest was 1.92%. And the median was 3.33%.
PHS:FPH's Return-on-Tangible-Asset is ranked better than 56.67% of 510
companies
in the Utilities - Regulated industry
Industry Median: 3.3
vs PHS:FPH: 3.88
First Philippine Holdings (PHS:FPH) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
First Philippine Holdings Return-on-Tangible-Asset Related Terms
First Philippine Holdings Return-on-Tangible-Asset Historical Data
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The historical data trend for First Philippine Holdings's Return-on-Tangible-Asset 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.
First Philippine Holdings Return-on-Tangible-Asset Chart
PHS:FPH vs NEE, SO, DUK: Return-on-Tangible-Asset Comparison
For the Utilities - Regulated Electric subindustry, First Philippine Holdings's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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.
First Philippine Holdings Return-on-Tangible-Asset vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, First Philippine Holdings's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where First Philippine Holdings's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 3.33% mean?
First Philippine Holdings (PHS:FPH) has a Return-on-Tangible-Asset of 3.33% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on First Philippine Holdings and its competitors. This is near median its historical median of 3.33. Over the past decade, First Philippine Holdings' Return-on-Tangible-Asset has ranged from 1.92 to 4.07. According to the industry distribution chart, First Philippine Holdings ranks #221 out of 510 companies in the Utilities - Regulated industry, placing it in the top 43.3%.
Is First Philippine Holdings' Return-on-Tangible-Asset too high?
First Philippine Holdings' current Return-on-Tangible-Asset of 3.33% is near median its 10-year median of 3.33. Over the past 10 years, this metric has ranged from a low of 1.92 to a high of 4.07. The Utilities - Regulated industry median Return-on-Tangible-Asset is 3.30. First Philippine Holdings' value of 3.33% is 0.9% above this industry median. Based on the distribution chart, First Philippine Holdings ranks #221 out of 510 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, First Philippine Holdings has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Philippine Holdings' Return-on-Tangible-Asset compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, First Philippine Holdings ranks #221 out of 510 companies for Return-on-Tangible-Asset. This puts First Philippine Holdings in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.30. First Philippine Holdings' value of 3.33% is 0.9% above this benchmark. Historically, First Philippine Holdings' own Return-on-Tangible-Asset has ranged from 1.92 to 4.07 over the past decade. While the company's 10-year median is 3.33 vs. the industry median of 3.30, First Philippine Holdings 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 Return-on-Tangible-Asset for an Utilities - Regulated company?
The median Return-on-Tangible-Asset among Utilities - Regulated companies is 3.30, based on 510 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Philippine Holdings's current Return-on-Tangible-Asset of 3.33% is 0.9% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on First Philippine Holdings and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Asset is 3.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Philippine Holdings's current Return-on-Tangible-Asset is 3.33%, which is near median its own 10-year median of 3.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Philippine Holdings stock overvalued right now?
Based on GuruFocus' analysis, First Philippine Holdings (PHS:FPH) is currently considered Significantly Overvalued. The stock's GF Value™ is ₱58.24, compared to a current price of ₱80.00 — trading 37.4% above its estimated fair value. The current Return-on-Tangible-Asset is 3.33%, which is near median its 10-year median of 3.33 and 0.9% above the Utilities - Regulated industry median of 3.30. First Philippine Holdings' overall GF Score™ is 56/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For First Philippine Holdings (PHS:FPH), the current Return-on-Tangible-Asset is 3.33% 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 First Philippine Holdings (PHS:FPH) Overvalued in 2026?
Based on GuruFocus' analysis, First Philippine Holdings stock appears to be overvalued.
The current stock price of ₱80.00 is trading 37.4% above its estimated GF Value™ of ₱58.24.
GuruFocus considers First Philippine Holdings to be Significantly Overvalued.
Key valuation signals for PHS:FPH:
Return-on-Tangible-Asset: 3.33% (near median its 10-year median of 3.33)
GF Value™: ₱58.24 vs. price of ₱80.00 (37.4% above fair value)
Industry Position: 0.9% above the Utilities - Regulated median (#221 of 510)
No single metric tells the full story. See the PHS:FPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Philippine Holdings Corporation are engaged mainly in, but not limited to, power generation, real estate development, energy solutions, construction and other service industries. The company's segments its activities into Power Generation, Real Estate Development, Energy Solutions, Construction, and other services. The majority of revenue comes from Power Generation segment. The Power generation has one geographical segment. Real Estate Development has presence in National Capital Region, Central Luzon, Southern Luzon, Central Visayas, Western Visayas of which majority of revenue comes from National capital region.
56GF Score
Get the complete analysis for PHS:FPH
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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