Intrinsic value of PLDT ADR - PHI

Previous Close

$22.08

  Intrinsic Value

$179.30

stock screener

  Rating & Target

str. buy

+712%

Previous close

$22.08

 
Intrinsic value

$179.30

 
Up/down potential

+712%

 
Rating

str. buy

We calculate the intrinsic value of PHI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  3,261
  3,336
  3,422
  3,518
  3,625
  3,742
  3,869
  4,007
  4,156
  4,315
  4,486
  4,668
  4,862
  5,068
  5,287
  5,518
  5,764
  6,023
  6,297
  6,586
  6,892
  7,214
  7,553
  7,910
  8,287
  8,684
  9,101
  9,540
  10,002
  10,488
Variable operating expenses, $m
  2,769
  2,830
  2,899
  2,977
  3,063
  3,157
  3,260
  3,371
  3,491
  3,619
  3,618
  3,765
  3,921
  4,087
  4,264
  4,450
  4,648
  4,857
  5,078
  5,312
  5,558
  5,818
  6,091
  6,380
  6,683
  7,003
  7,340
  7,694
  8,067
  8,459
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,769
  2,830
  2,899
  2,977
  3,063
  3,157
  3,260
  3,371
  3,491
  3,619
  3,618
  3,765
  3,921
  4,087
  4,264
  4,450
  4,648
  4,857
  5,078
  5,312
  5,558
  5,818
  6,091
  6,380
  6,683
  7,003
  7,340
  7,694
  8,067
  8,459
Operating income, $m
  492
  506
  523
  542
  562
  585
  610
  636
  665
  696
  868
  903
  941
  981
  1,023
  1,068
  1,115
  1,165
  1,219
  1,275
  1,334
  1,396
  1,462
  1,531
  1,604
  1,680
  1,761
  1,846
  1,935
  2,030
EBITDA, $m
  1,574
  1,610
  1,651
  1,698
  1,749
  1,806
  1,867
  1,934
  2,005
  2,082
  2,165
  2,252
  2,346
  2,445
  2,551
  2,663
  2,781
  2,906
  3,038
  3,178
  3,325
  3,481
  3,644
  3,817
  3,999
  4,190
  4,391
  4,603
  4,826
  5,061
Interest expense (income), $m
  141
  186
  194
  203
  213
  224
  237
  251
  266
  283
  300
  319
  340
  361
  384
  409
  435
  462
  492
  523
  555
  590
  626
  664
  705
  747
  792
  839
  889
  941
  996
Earnings before tax, $m
  306
  313
  320
  329
  338
  348
  359
  370
  382
  396
  549
  564
  580
  596
  614
  633
  653
  674
  696
  719
  744
  770
  797
  826
  856
  888
  922
  957
  994
  1,033
Tax expense, $m
  83
  84
  86
  89
  91
  94
  97
  100
  103
  107
  148
  152
  156
  161
  166
  171
  176
  182
  188
  194
  201
  208
  215
  223
  231
  240
  249
  258
  268
  279
Net income, $m
  223
  228
  234
  240
  247
  254
  262
  270
  279
  289
  401
  412
  423
  435
  448
  462
  477
  492
  508
  525
  543
  562
  582
  603
  625
  649
  673
  699
  726
  754

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  9,371
  9,587
  9,833
  10,110
  10,416
  10,753
  11,119
  11,515
  11,942
  12,401
  12,891
  13,414
  13,971
  14,563
  15,192
  15,857
  16,562
  17,307
  18,095
  18,926
  19,803
  20,729
  21,704
  22,731
  23,813
  24,953
  26,152
  27,414
  28,742
  30,138
Adjusted assets (=assets-cash), $m
  9,371
  9,587
  9,833
  10,110
  10,416
  10,753
  11,119
  11,515
  11,942
  12,401
  12,891
  13,414
  13,971
  14,563
  15,192
  15,857
  16,562
  17,307
  18,095
  18,926
  19,803
  20,729
  21,704
  22,731
  23,813
  24,953
  26,152
  27,414
  28,742
  30,138
Revenue / Adjusted assets
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
  0.348
Average production assets, $m
  4,713
  4,821
  4,945
  5,084
  5,238
  5,407
  5,591
  5,791
  6,005
  6,236
  6,482
  6,745
  7,026
  7,323
  7,639
  7,974
  8,328
  8,703
  9,099
  9,517
  9,958
  10,424
  10,914
  11,431
  11,975
  12,548
  13,151
  13,785
  14,453
  15,155
Working capital, $m
  -1,989
  -2,035
  -2,087
  -2,146
  -2,211
  -2,283
  -2,360
  -2,444
  -2,535
  -2,632
  -2,737
  -2,848
  -2,966
  -3,092
  -3,225
  -3,366
  -3,516
  -3,674
  -3,841
  -4,018
  -4,204
  -4,400
  -4,607
  -4,825
  -5,055
  -5,297
  -5,552
  -5,819
  -6,101
  -6,398
Total debt, $m
  3,589
  3,755
  3,944
  4,156
  4,391
  4,649
  4,930
  5,234
  5,561
  5,913
  6,289
  6,690
  7,118
  7,572
  8,053
  8,564
  9,105
  9,676
  10,280
  10,918
  11,591
  12,300
  13,048
  13,836
  14,666
  15,540
  16,460
  17,428
  18,446
  19,517
Total liabilities, $m
  7,188
  7,353
  7,542
  7,754
  7,989
  8,247
  8,528
  8,832
  9,160
  9,511
  9,887
  10,289
  10,716
  11,170
  11,652
  12,163
  12,703
  13,275
  13,879
  14,516
  15,189
  15,899
  16,647
  17,435
  18,265
  19,139
  20,059
  21,027
  22,045
  23,116
Total equity, $m
  2,184
  2,234
  2,291
  2,356
  2,427
  2,505
  2,591
  2,683
  2,783
  2,889
  3,004
  3,126
  3,255
  3,393
  3,540
  3,695
  3,859
  4,033
  4,216
  4,410
  4,614
  4,830
  5,057
  5,296
  5,549
  5,814
  6,093
  6,387
  6,697
  7,022
Total liabilities and equity, $m
  9,372
  9,587
  9,833
  10,110
  10,416
  10,752
  11,119
  11,515
  11,943
  12,400
  12,891
  13,415
  13,971
  14,563
  15,192
  15,858
  16,562
  17,308
  18,095
  18,926
  19,803
  20,729
  21,704
  22,731
  23,814
  24,953
  26,152
  27,414
  28,742
  30,138
Debt-to-equity ratio
  1.640
  1.680
  1.720
  1.760
  1.810
  1.860
  1.900
  1.950
  2.000
  2.050
  2.090
  2.140
  2.190
  2.230
  2.280
  2.320
  2.360
  2.400
  2.440
  2.480
  2.510
  2.550
  2.580
  2.610
  2.640
  2.670
  2.700
  2.730
  2.750
  2.780
Adjusted equity ratio
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  223
  228
  234
  240
  247
  254
  262
  270
  279
  289
  401
  412
  423
  435
  448
  462
  477
  492
  508
  525
  543
  562
  582
  603
  625
  649
  673
  699
  726
  754
Depreciation, amort., depletion, $m
  1,082
  1,103
  1,128
  1,156
  1,187
  1,221
  1,257
  1,297
  1,340
  1,386
  1,296
  1,349
  1,405
  1,465
  1,528
  1,595
  1,666
  1,741
  1,820
  1,903
  1,992
  2,085
  2,183
  2,286
  2,395
  2,510
  2,630
  2,757
  2,891
  3,031
Funds from operations, $m
  1,305
  1,332
  1,362
  1,396
  1,433
  1,474
  1,519
  1,567
  1,619
  1,675
  1,697
  1,761
  1,828
  1,900
  1,976
  2,057
  2,142
  2,233
  2,328
  2,429
  2,535
  2,647
  2,765
  2,889
  3,020
  3,158
  3,303
  3,456
  3,617
  3,785
Change in working capital, $m
  -39
  -46
  -52
  -59
  -65
  -71
  -78
  -84
  -91
  -97
  -104
  -111
  -118
  -126
  -133
  -141
  -150
  -158
  -167
  -176
  -186
  -196
  -207
  -218
  -230
  -242
  -255
  -268
  -282
  -296
Cash from operations, $m
  1,344
  1,377
  1,414
  1,455
  1,498
  1,546
  1,597
  1,652
  1,710
  1,772
  1,801
  1,872
  1,946
  2,026
  2,110
  2,198
  2,292
  2,391
  2,495
  2,605
  2,721
  2,843
  2,972
  3,107
  3,250
  3,400
  3,558
  3,724
  3,898
  4,082
Maintenance CAPEX, $m
  -924
  -943
  -964
  -989
  -1,017
  -1,048
  -1,081
  -1,118
  -1,158
  -1,201
  -1,247
  -1,296
  -1,349
  -1,405
  -1,465
  -1,528
  -1,595
  -1,666
  -1,741
  -1,820
  -1,903
  -1,992
  -2,085
  -2,183
  -2,286
  -2,395
  -2,510
  -2,630
  -2,757
  -2,891
New CAPEX, $m
  -92
  -108
  -124
  -139
  -154
  -169
  -184
  -199
  -215
  -230
  -247
  -263
  -280
  -298
  -316
  -335
  -354
  -375
  -396
  -418
  -441
  -465
  -490
  -517
  -544
  -573
  -603
  -635
  -668
  -702
Cash from investing activities, $m
  -1,016
  -1,051
  -1,088
  -1,128
  -1,171
  -1,217
  -1,265
  -1,317
  -1,373
  -1,431
  -1,494
  -1,559
  -1,629
  -1,703
  -1,781
  -1,863
  -1,949
  -2,041
  -2,137
  -2,238
  -2,344
  -2,457
  -2,575
  -2,700
  -2,830
  -2,968
  -3,113
  -3,265
  -3,425
  -3,593
Free cash flow, $m
  328
  326
  326
  327
  328
  329
  331
  334
  337
  341
  307
  312
  317
  323
  329
  336
  343
  350
  358
  367
  376
  386
  397
  408
  420
  432
  445
  459
  474
  489
Issuance/(repayment) of debt, $m
  139
  165
  189
  212
  235
  258
  281
  304
  328
  352
  376
  401
  427
  454
  482
  511
  541
  572
  604
  638
  673
  710
  748
  788
  830
  874
  920
  968
  1,018
  1,071
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  139
  165
  189
  212
  235
  258
  281
  304
  328
  352
  376
  401
  427
  454
  482
  511
  541
  572
  604
  638
  673
  710
  748
  788
  830
  874
  920
  968
  1,018
  1,071
Total cash flow (excl. dividends), $m
  466
  492
  515
  539
  563
  587
  612
  638
  665
  692
  684
  713
  745
  777
  811
  846
  883
  922
  962
  1,005
  1,049
  1,096
  1,145
  1,196
  1,250
  1,306
  1,365
  1,427
  1,492
  1,560
Retained Cash Flow (-), $m
  -48
  -50
  -57
  -64
  -71
  -78
  -85
  -92
  -100
  -107
  -114
  -122
  -130
  -138
  -146
  -155
  -164
  -174
  -183
  -194
  -204
  -216
  -227
  -239
  -252
  -265
  -279
  -294
  -309
  -325
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  419
  441
  458
  474
  491
  509
  527
  546
  565
  586
  569
  591
  615
  639
  664
  691
  719
  748
  779
  811
  845
  880
  918
  957
  997
  1,040
  1,086
  1,133
  1,183
  1,235
Discount rate, %
  5.90
  6.20
  6.50
  6.83
  7.17
  7.53
  7.91
  8.30
  8.72
  9.15
  9.61
  10.09
  10.60
  11.13
  11.68
  12.27
  12.88
  13.52
  14.20
  14.91
  15.65
  16.44
  17.26
  18.12
  19.03
  19.98
  20.98
  22.03
  23.13
  24.29
PV of cash for distribution, $m
  395
  391
  379
  364
  347
  329
  309
  288
  266
  244
  207
  187
  166
  146
  127
  109
  92
  76
  63
  50
  40
  31
  24
  18
  13
  9
  6
  4
  3
  2
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

PLDT, Inc., formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines' fiber optic backbone and wireless and fixed line networks. The Company's wireless segment provides cellular, wireless broadband and other services, and digital platforms and mobile financial services. Its Fixed Line segment provides local exchange, international long distance, national long distance, data and other network and miscellaneous services under its fixed line business. It offers postpaid and prepaid fixed line services. Its Other business consists of PLDT Communications and Energy Ventures, Inc. (PCEV), an investment holding company. It also focuses on providing wireless voice communications and wireless data communications.

FINANCIAL RATIOS  of  PLDT ADR (PHI)

Valuation Ratios
P/E Ratio 12
Price to Sales 1.5
Price to Book 2.2
Price to Tangible Book
Price to Cash Flow 4.9
Price to Free Cash Flow 35.9
Growth Rates
Sales Growth Rate -3.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -1.3%
Cap. Spend. - 3 Yr. Gr. Rate 8.3%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 140.3%
Total Debt to Equity 171%
Interest Coverage 4
Management Effectiveness
Return On Assets 5.7%
Ret/ On Assets - 3 Yr. Avg. 6.9%
Return On Total Capital 7%
Ret/ On T. Cap. - 3 Yr. Avg. 9.6%
Return On Equity 18%
Return On Equity - 3 Yr. Avg. 20.3%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 89.9%
Gross Margin - 3 Yr. Avg. 90.8%
EBITDA Margin 39%
EBITDA Margin - 3 Yr. Avg. 41.7%
Operating Margin 14.9%
Oper. Margin - 3 Yr. Avg. 18.1%
Pre-Tax Margin 13.3%
Pre-Tax Margin - 3 Yr. Avg. 18.3%
Net Profit Margin 12.1%
Net Profit Margin - 3 Yr. Avg. 15%
Effective Tax Rate 8.7%
Eff/ Tax Rate - 3 Yr. Avg. 16.2%
Payout Ratio 114.9%

PHI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PHI stock intrinsic value calculation we used $3197.30502409 million for the last fiscal year's total revenue generated by PLDT ADR. The default revenue input number comes from 0001 income statement of PLDT ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PHI stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.9%, whose default value for PHI is calculated based on our internal credit rating of PLDT ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of PLDT ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PHI stock the variable cost ratio is equal to 85%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for PHI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for PLDT ADR.

Corporate tax rate of 27% is the nominal tax rate for PLDT ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PHI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PHI are equal to 144.5%.

Life of production assets of 5 years is the average useful life of capital assets used in PLDT ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PHI is equal to -61%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2136.02830924 million for PLDT ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 26.147 million for PLDT ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of PLDT ADR at the current share price and the inputted number of shares is $0.6 billion.

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COMPANY NEWS

▶ [$$] KKR, Tencent to Invest in PLDT's Voyager Innovations Business   [Oct-04-18 11:37AM  The Wall Street Journal]
▶ 5 Value Picks to Exploit the Dip in Emerging Markets   [Jun-28-18 11:45AM  InvestorPlace]
▶ PLDT (PHI) Enters Oversold Territory   [Jun-01-18 07:06AM  Zacks]
▶ PLDT, Smart ink seven-year US$300M deal with Amdocs   [Jan-24-18 06:00AM  GlobeNewswire]
▶ ETFs with exposure to PLDT, Inc. : December 25, 2017   [Dec-25-17 12:19PM  Capital Cube]
▶ ETFs with exposure to PLDT, Inc. : December 12, 2017   [Dec-12-17 01:57PM  Capital Cube]
▶ ETFs with exposure to PLDT, Inc. : November 20, 2017   [Nov-20-17 01:05PM  Capital Cube]
▶ ETFs with exposure to PLDT, Inc. : August 24, 2017   [Aug-24-17 03:54PM  Capital Cube]
▶ ETFs with exposure to PLDT, Inc. : June 19, 2017   [Jun-19-17 03:56PM  Capital Cube]
▶ ETFs with exposure to PLDT, Inc. : June 2, 2017   [Jun-02-17 02:24PM  Capital Cube]
▶ ETFs with exposure to PLDT, Inc. : May 19, 2017   [May-19-17 02:05PM  Capital Cube]
▶ Is PLDT Inc. a Great Stock for Value Investors?   [Apr-12-17 09:55AM  Zacks]
▶ ETFs with exposure to PLDT, Inc. : April 5, 2017   [Apr-05-17 05:17PM  Capital Cube]
▶ ETFs with exposure to PLDT, Inc. : January 11, 2017   [Jan-11-17 01:09PM  Capital Cube]
▶ 14 Emerging Market Stock Losers Of 2016   [Jan-03-17 05:17PM  at Barrons.com]
▶ ETFs with exposure to PLDT, Inc. : December 29, 2016   [Dec-29-16 02:22PM  Capital Cube]
▶ ETFs with exposure to PLDT, Inc. : September 14, 2016   [Sep-14-16 10:26AM  Capital Cube]
▶ 3 Ways to Get Exposure to Philippines Stocks in the U.S.   [Aug-22-16 12:51PM  Investopedia]
▶ ETFs with exposure to PLDT Inc. : August 9, 2016   [Aug-09-16 01:59PM  Capital Cube]
▶ Filipinos fume over snail-pace internet   [Jul-26-16 11:01PM  AAP]
▶ [$$] Telecoms company's typhoon reaction   [Jul-11-16 07:29PM  at Financial Times]
▶ Philippine Telecoms Giant PLDT's Profit Falls 34%   [May-03-16 12:28AM  at Bloomberg]
▶ PHI raises 4.8 million USD   [Mar-23-16 06:37AM  at noodls]
▶ PHI raises 5 million USD   [06:14AM  at noodls]
▶ PLDT, Globe Shares Rally as San Miguel, Telstra Talks End   [Mar-13-16 09:55PM  at Bloomberg]
▶ These 5 Stocks Still Look Toxic in 2016   [06:34AM  at TheStreet]
▶ Mobile app maker raises chunk of $50M funding   [Dec-29  11:55AM  at bizjournals.com]
▶ Should You Avoid Autodesk, Inc. (ADSK)?   [Dec-01  09:44AM  at Insider Monkey]
▶ Is CGI Group Inc. (USA) (GIB) a Good Buy?   [Nov-27  11:04AM  at Insider Monkey]
▶ What Hedge Funds Think About H&R Block, Inc. (HRB)?   [Nov-23  06:13PM  at Insider Monkey]

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