Manila Electric CoPHS:MER -1.21%93 ROA % is 5.24% as of Mar. 2026, which is 22% below its 10-year median of 6.76. 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 511 Utilities - Regulated companies, Manila Electric Co ranks better than 83.76% on this metric.
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. Manila Electric Co's annualizedNet Income for the quarter that ended in Mar. 2026 was ₱43,332 Mil.
Manila Electric Co's average Total Assets over the quarter that ended in Mar. 2026 was ₱826,835 Mil. Therefore, Manila Electric Co's annualized ROA % for the quarter that ended in Mar. 2026 was 5.24%.
The historical rank and industry rank for Manila Electric Co's ROA % or its related term are showing as below:
PHS:MER'
s ROA % Range Over the Past 10 Years
Min: 4.37 Med: 6.76 Max: 7.6
Current: 6.54
During the past 13 years, Manila Electric Co's highest ROA % was 7.60%. The lowest was 4.37%. And the median was 6.76%.
PHS:MER's ROA % is ranked better than 83.76% of 511
companies
in the Utilities - Regulated industry
Industry Median: 3.02
vs PHS:MER: 6.54
Manila Electric Co (PHS:MER) ROA % Explanation
ROA % measures the rate of return on the total assets (shareholder equity plus liabilities). It measures a firm's efficiency at generating profits from shareholders' equity plus its liabilities. ROA % shows how well a company uses what it has to generate earnings. ROA %s can vary drastically across industries. Therefore, ROA % should not be used to compare companies in different industries. For retailers, a ROA % of higher than 5% is expected. For example, Wal-Mart (WMT) has a ROA % of about 8% as of 2012. For banks, ROA % is close to their interest spread. A banks ROA % is typically well under 2%.
Similar to ROE, ROA % is affected by profit margins and asset turnover. This can be seen from the Du Pont Formula:
Note:
The Net Income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data.
* 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.
Be Aware
Like ROE, ROA % is calculated with only 12 months data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. ROA % can be affected by events such as stock buyback or issuance, and by goodwill, a company's tax rate and its interest payment. ROA % 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 ROA % may indicate vulnerability in the durability of the competitive advantage.
E.g. Raising $43b to take on KO is impossible, but $1.7b to take on Moody's is. Although Moody's ROA % and underlying economics is far superior to Coca Cola, the durability is far weaker because of lower entry cost.
Manila Electric Co ROA % Related Terms
Manila Electric Co ROA % Historical Data
* Premium members only.
The historical data trend for Manila Electric Co's ROA % 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 ROA %, along with its competitors' market caps and ROA % 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 ROA % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Electric Co's ROA % distribution charts can be found below:
* The bar in red indicates where Manila Electric Co's ROA % 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 ROA %, the net income of the last fiscal year and the average total 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.
ROA % is displayed in the 30-year financial page.
Manila Electric Co (PHS:MER) has a ROA % of 5.24% as of Mar. 2026. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on Manila Electric Co and its competitors. This is 22% below median its historical median of 6.76. Over the past decade, Manila Electric Co's ROA % has ranged from 4.37 to 7.60. According to the industry distribution chart, Manila Electric Co ranks #83 out of 511 companies in the Utilities - Regulated industry, placing it in the top 16.2%.
Is Manila Electric Co's ROA % too high?
Manila Electric Co's current ROA % of 5.24% is 22% below median its 10-year median of 6.76. Over the past 10 years, this metric has ranged from a low of 4.37 to a high of 7.60. The Utilities - Regulated industry median ROA % is 3.02. Manila Electric Co's value of 5.24% is 73.5% above this industry median. Based on the distribution chart, Manila Electric Co ranks #83 out of 511 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position 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 ROA % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Manila Electric Co ranks #83 out of 511 companies for ROA %. This places Manila Electric Co in the top 16% of its industry — outperforming the majority of peers. The industry median ROA % is 3.02. Manila Electric Co's value of 5.24% is 73.5% above this benchmark. Historically, Manila Electric Co's own ROA % has ranged from 4.37 to 7.60 over the past decade. While the company's 10-year median is 6.76 vs. the industry median of 3.02, 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 ROA % for an Utilities - Regulated company?
The median ROA % among Utilities - Regulated companies is 3.02, based on 511 companies in the industry. Companies in the top quartile (top 25%) have a ROA % significantly above this median, while those in the bottom quartile fall well below. However, ROA % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manila Electric Co's current ROA % of 5.24% is 73.5% 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 ROA % mean?
A high ROA % can signal that a stock is expensive relative to its fundamentals. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on Manila Electric Co and its competitors. For the Utilities - Regulated industry, the median ROA % is 3.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manila Electric Co's current ROA % is 5.24%, which is 22% below median its own 10-year median of 6.76. 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 ROA % is 5.24%, which is 22% below median its 10-year median of 6.76 and 73.5% above the Utilities - Regulated industry median of 3.02. 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 ROA % calculated?
ROA % is calculated from a company's financial statements. For Manila Electric Co (PHS:MER), the current ROA % is 5.24% 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 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:
ROA %: 5.24% (22% below median its 10-year median of 6.76)
GF Value™: ₱528.22 vs. price of ₱573.00 (8.5% above fair value)
Industry Position: 73.5% above the Utilities - Regulated median (#83 of 511)
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
ROA % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PHS:MER has been successfully added to your 
