First Philippine HoldingsPHS:FPH 54 Return-on-Tangible-Equity is 13.59% as of Mar. 2026, which is 22% below its 10-year median of 17.52. GuruFocus rates PHS:FPH with a GF Score™ of 54/100 and a GF Value™ of ₱58.46 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 499 Utilities - Regulated companies, First Philippine Holdings ranks better than 68.54% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. First Philippine Holdings's annualized net income for the quarter that ended in Mar. 2026 was ₱17,956 Mil. First Philippine Holdings's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₱132,149 Mil. Therefore, First Philippine Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 13.59%.
The historical rank and industry rank for First Philippine Holdings's Return-on-Tangible-Equity or its related term are showing as below:
PHS:FPH'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 14.5 Med: 17.52 Max: 48.76
Current: 16.47
During the past 13 years, First Philippine Holdings's highest Return-on-Tangible-Equity was 48.76%. The lowest was 14.50%. And the median was 17.52%.
PHS:FPH's Return-on-Tangible-Equity is ranked better than 68.54% of 499
companies
in the Utilities - Regulated industry
Industry Median: 10.9
vs PHS:FPH: 16.47
First Philippine Holdings (PHS:FPH) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
First Philippine Holdings Return-on-Tangible-Equity Related Terms
First Philippine Holdings Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for First Philippine Holdings's Return-on-Tangible-Equity 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-Equity Chart
PHS:FPH vs NEE, SO, DUK: Return-on-Tangible-Equity Comparison
For the Utilities - Regulated Electric subindustry, First Philippine Holdings's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, First Philippine Holdings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where First Philippine Holdings's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 13.59% mean?
First Philippine Holdings (PHS:FPH) has a Return-on-Tangible-Equity of 13.59% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on First Philippine Holdings and its competitors. This is 22% below median its historical median of 17.52. Over the past decade, First Philippine Holdings' Return-on-Tangible-Equity has ranged from 14.50 to 48.76. According to the industry distribution chart, First Philippine Holdings ranks #157 out of 499 companies in the Utilities - Regulated industry, placing it in the top 31.5%.
Is First Philippine Holdings' Return-on-Tangible-Equity too high?
First Philippine Holdings' current Return-on-Tangible-Equity of 13.59% is 22% below median its 10-year median of 17.52. Over the past 10 years, this metric has ranged from a low of 14.50 to a high of 48.76. The Utilities - Regulated industry median Return-on-Tangible-Equity is 10.90. First Philippine Holdings' value of 13.59% is 24.7% above this industry median. Based on the distribution chart, First Philippine Holdings ranks #157 out of 499 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, First Philippine Holdings has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Philippine Holdings' Return-on-Tangible-Equity compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, First Philippine Holdings ranks #157 out of 499 companies for Return-on-Tangible-Equity. This puts First Philippine Holdings in the upper half of its industry. The industry median Return-on-Tangible-Equity is 10.90. First Philippine Holdings' value of 13.59% is 24.7% above this benchmark. Historically, First Philippine Holdings' own Return-on-Tangible-Equity has ranged from 14.50 to 48.76 over the past decade. While the company's 10-year median is 17.52 vs. the industry median of 10.90, 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-Equity for an Utilities - Regulated company?
The median Return-on-Tangible-Equity among Utilities - Regulated companies is 10.90, based on 499 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity 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-Equity of 13.59% is 24.7% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on First Philippine Holdings and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Equity is 10.90 — 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-Equity is 13.59%, which is 22% below median its own 10-year median of 17.52. 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 ₱58.46, compared to a current price of ₱80.00 — trading 36.8% above its estimated fair value. The current Return-on-Tangible-Equity is 13.59%, which is 22% below median its 10-year median of 17.52 and 24.7% above the Utilities - Regulated industry median of 10.90. First Philippine Holdings' overall GF Score™ is 54/100 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-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For First Philippine Holdings (PHS:FPH), the current Return-on-Tangible-Equity is 13.59% 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 36.8% above its estimated GF Value™ of ₱58.46.
GuruFocus considers First Philippine Holdings to be Significantly Overvalued.
Key valuation signals for PHS:FPH:
Return-on-Tangible-Equity: 13.59% (22% below median its 10-year median of 17.52)
GF Value™: ₱58.46 vs. price of ₱80.00 (36.8% above fair value)
Industry Position: 24.7% above the Utilities - Regulated median (#157 of 499)
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.
54GF Score
Get the complete analysis for PHS:FPH
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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