PLDT Inc., a major provider of telecommunications and digital services across the Philippines, is headquartered in Makati City. The company organizes its ...
PLDT Inc. (PLDT) is one of the Philippines’ largest telecommunications and digital services companies, headquartered in Makati City. Originally established in 1928 as the Philippine Long Distance Telephone Company, the company later adopted the PLDT name in July 2016 to reflect its broader digital services portfolio. From a business perspective, ...PLDT Inc. (PLDT) is one of the Philippines’ largest telecommunications and digital services companies, headquartered in Makati City. Originally established in 1928 as the Philippine Long Distance Telephone Company, the company later adopted the PLDT name in July 2016 to reflect its broader digital services portfolio.
From a business perspective, PLDT’s strategy centers on connecting people and businesses through nationwide networks and high-demand services. The company is typically organized into three operating divisions: Wireless, Fixed Line, and Other services. The Wireless segment provides mobile communications and high-speed internet, along with related support. It also supports device and access offerings (e.g., Wi‑Fi access devices and a range of mobile connectivity equipment and accessories) that help convert connectivity demand into service revenue.
The Fixed Line division focuses on traditional fixed-line telecommunications as well as business infrastructure and solutions. This includes IT and network capabilities such as data processing and analytics, internet-based IT infrastructure, and services that support e-commerce and customer relationship management (CRM). In addition, PLDT provides managed IT outsourcing, IT consulting, and other professional services that extend beyond pure connectivity into enterprise IT outcomes.
Under “Other services,” PLDT also participates in digital content distribution and channel management, loyalty programs for customers, leased lines, and alternative messaging platforms including over-the-top (OTT) services and social media applications.
In terms of cost and operational considerations, the telecommunications model is capital intensive due to ongoing network build-out, expansion, and maintenance across both wireless and fixed infrastructure. Metrics provided in the dataset (e.g., free cash flow yield, margins, and leverage-related ratios) indicate the company operates with substantial operating scale while maintaining significant investment needs typical for telecom operators.
Financially, PLDT’s recent valuation data (including market capitalization and enterprise value metrics) suggest it is a mature, widely covered public company. Key people associated with leadership include CEO Manuel V. Pangilinan, with the company historically linked to major industry stakeholders.
Overall, PLDT aims to continue upgrading network capacity and broadening its digital and ICT services portfolio so that it can serve consumers (mobile and broadband) while also meeting enterprise demand for managed infrastructure, data/IT solutions, and related communications services.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$223.3B
+3.0%
-2.9%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$30.7B
-5.0%
-15.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+59.6%
-18.4%
+2.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+24.9%
-50.2%
-6.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+13.7%
-7.8%
-13.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$23.9B
+77.4%
-16.0%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+10.7%
+72.3%
-13.5%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
283.1%
-2.6%
-4.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.44x
+28.8%
+6.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Jinggay Nograles: All right. Good afternoon, everyone. Thank you for waiting. Apologies for that delay. Thank you for joining us today. My name is Jinggay Nograles. I'm the Head of Investor Relations here at PLDT. And it's my pleasure to welcome you to our first half 2026 financial and operating results briefing. So, joining us today to share insights into PLDT's performance and strategic direction are PLDT's Chief Operating Officer, Mr. Butch Jimenez; our OIC, CFO, Mr. Leo Posadas. We also have here with us SVP and Head of Consumer Home Business, Mr. John Palanca. We also have our Head or OIC for Smart Communications, Mr. Lloyd Manaloto; and our Chief Legal Counsel Attorney, Joan De Venecia-Fabul. We'll also be joined later by our other key officers for our enterprise business as well as our data center business. So before we begin, I'd like to remind everyone that we will have a Q&A session after the presentation. You may submit your questions via the MS Teams Q&A panel. Thank you also to those who have submitted the questions before hand and we'll make sure to address those during the call. So to start, I'd like to invite our Chief Operating Officer, Mr. Butch Jimenez, to walk us through PLDT's financial and operating report.
Menardo Jimenez: Good afternoon, everyone, and thank you for joining us today. I'll take you through PLDT's first half 2026 financial and operating results. For the first half, gross service revenues grew 2% to PHP 108.7 billion, while service revenues, net of interconnection costs increased 1% to PHP 97.8 billion. Growth was tempered by softer consumer spending in wireless and the lag revenue impact of first quarter installation constraints in home, partly offset by continued enterprise growth. Cash, OpEx, subsidies and provisions were broadly flat at PHP 41.7 billion, supporting EBITDA of PHP 56.1 billion and a stable 52% margin. Below EBITDA, depreciation and amortization increased 6%, reflecting our past investments in network and infrastructure. Telco core income declined 2% to PHP 16.6 billion, while stable financing costs, contribution from Maya and asset sales helped stabilize core income at PHP 17.3 billion. Overall, the business remained resilient with stable margins and continued financial discipline. Looking more closely at the top line. Consolidated service revenues were up 1% to PHP 97.8 billion for the first half. Excluding legacy services, revenues grew 2% to PHP 89.2 billion and now account for 91% of total. Wireless revenues were broadly stable at PHP 42.1 billion, with mobile data and fixed wireless access grew to PHP 38.7 billion. Home revenues were PHP 30 billion, down 1%, reflecting the revenue lag from the constraints we experienced in the first quarter. Enterprise remains our strongest growth driver, with revenues up 5% to PHP 24.8 billion, led by corporate data and ICT. So while overall growth remains measured, the mix continues to shift toward data and ICT services. Let me now take you through …