Manila Electric CoMERVF 87 ROE % is 25.53% as of Mar. 2026, which is 8% below its 10-year median of 27.89. GuruFocus rates MERVF with a GF Score™ of 87/100 and a GF Value™ of $7.57 (Fairly Valued). The stock has 6 warning signs investors should review. Among 505 Utilities - Regulated companies, Manila Electric Co ranks better than 95.45% on this metric.
The historical rank and industry rank for Manila Electric Co's ROE % or its related term are showing as below:
MERVF'
s ROE % Range Over the Past 10 Years
Min: 19.96 Med: 27.89 Max: 34.36
Current: 32.16
During the past 13 years, Manila Electric Co's highest ROE % was 34.36%. The lowest was 19.96%. And the median was 27.89%.
MERVF's ROE % is ranked better than 95.45% of 505
companies
in the Utilities - Regulated industry
Industry Median: 8.62
vs MERVF: 32.16
Manila Electric Co (OTCPK:MERVF) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
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. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % 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 ROE %s can be extremely high.
Manila Electric Co ROE % Related Terms
Manila Electric Co ROE % Historical Data
* Premium members only.
The historical data trend for Manila Electric Co's ROE % 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 ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Electric Co's ROE % distribution charts can be found below:
* The bar in red indicates where Manila Electric Co's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder 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.
ROE % is displayed in the 30-year financial page.
Manila Electric Co (MERVF) has a ROE % of 25.53% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Manila Electric Co and its competitors. This is near median its historical median of 27.89. Over the past decade, Manila Electric Co's ROE % has ranged from 19.96 to 34.36. According to the industry distribution chart, Manila Electric Co ranks #23 out of 505 companies in the Utilities - Regulated industry, placing it in the top 4.6%.
Is Manila Electric Co's ROE % too high?
Manila Electric Co's current ROE % of 25.53% is near median its 10-year median of 27.89. Over the past 10 years, this metric has ranged from a low of 19.96 to a high of 34.36. The Utilities - Regulated industry median ROE % is 8.62. Manila Electric Co's value of 25.53% is 196.2% above this industry median. Based on the distribution chart, Manila Electric Co ranks #23 out of 505 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 87/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Manila Electric Co's ROE % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Manila Electric Co ranks #23 out of 505 companies for ROE %. This places Manila Electric Co in the top 5% of its industry — outperforming the majority of peers. The industry median ROE % is 8.62. Manila Electric Co's value of 25.53% is 196.2% above this benchmark. Historically, Manila Electric Co's own ROE % has ranged from 19.96 to 34.36 over the past decade. While the company's 10-year median is 27.89 vs. the industry median of 8.62, 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 ROE % for an Utilities - Regulated company?
The median ROE % among Utilities - Regulated companies is 8.62, based on 505 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manila Electric Co's current ROE % of 25.53% is 196.2% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Manila Electric Co and its competitors. For the Utilities - Regulated industry, the median ROE % is 8.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manila Electric Co's current ROE % is 25.53%, which is near median its own 10-year median of 27.89. 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 (MERVF) is currently considered Fairly Valued. The stock's GF Value™ is $7.57, compared to a current price of $8.25 — trading 9% above its estimated fair value. The current ROE % is 25.53%, which is near median its 10-year median of 27.89 and 196.2% above the Utilities - Regulated industry median of 8.62. Manila Electric Co's overall GF Score™ is 87/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Manila Electric Co (MERVF), the current ROE % is 25.53% 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 (MERVF) Overvalued in 2026?
Based on GuruFocus' analysis, Manila Electric Co stock appears to be overvalued.
The current stock price of $8.25 is trading 9% above its estimated GF Value™ of $7.57.
GuruFocus considers Manila Electric Co to be Fairly Valued.
Key valuation signals for MERVF:
ROE %: 25.53% (near median its 10-year median of 27.89)
GF Value™: $7.57 vs. price of $8.25 (9% above fair value)
Industry Position: 196.2% above the Utilities - Regulated median (#23 of 505)
No single metric tells the full story. See the MERVF 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.
87GF Score
Get the complete analysis for MERVF
ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MERVF has been successfully added to your 
