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Alliance Global Group (AGI) PHP

At a glance: strengths & risks
✓Margins improving (21%→28%)✗Revenue declining (-18%)✗High leverage (4.5x EBITDA)

Sector: Conglomerate

PH_AGI

Price chart

9.45 PHPDay 3.39%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
9.45 PHP · 3.39%
Market cap
82.1 bn PHP

Growth

Δ revenue y/y
-18.8%
Δ EBITDA y/y
-3.9%

Multiples

P/E (LTM)
3.0x
P/B (FY)
0.2x
P/E (ann.)
2.6x
EV/EBITDA (LTM)
6.0x
EV/EBITDA (ann.)
5.8x

Cash return

Dividend yield
1.1%
FCF yield (LTM)
20.5%

Value creation

fundamental value/yr, % of market cap
Value created / year
-50.9%
↓ details

Liquidity

Daily turnover
—

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B PHP, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB PHPOperating profitB PHPD&AB PHPEBITDAB PHPNet profitB PHPOperating CFB PHPCapex + M&AB PHPAssetsB PHPEquityB PHPROE (annualized)Net debtB PHPSource
2026-03-31Q1 2026 (3M)OK40.5
y/y -18.8%
10.7
y/y 1.5%
2.3
y/y -22.7%
13.1
y/y -3.9%
7.8
y/y -28.7%
21.0-1.5877.1
y/y 11.1%
468.3
y/y 11.3%
6.8%219.7Link
2025-12-31Q4 2025 (3M)OK46.3
y/y -25.4%
11.0
y/y -22.8%
2.6
y/y -20.6%
13.5
y/y -22.4%
5.8
y/y -26.9%
14.6-13.2858.4
y/y 4.2%
450.7
y/y 8.4%
6.9%225.9Link
2025-09-30Q3 2025 (3M)OK40.9
y/y -22.0%
9.0
y/y -8.9%
2.3
y/y -21.1%
11.3
y/y -11.7%
5.6
y/y -9.6%
10.1-14.5841.9
y/y 2.9%
441.1
y/y 6.4%
1.7%218.0Link
2025-06-30Q2 2025 (3M)OK43.2
y/y -20.8%
10.6
y/y -3.5%
2.0
y/y -33.0%
12.7
y/y -9.9%
8.3
y/y -14.1%
5.5-2.7805.4
y/y -1.2%
428.3
y/y 4.9%
7.8%205.4Link
2025-03-31Q1 2025 (3M)OK49.8
y/y 0.8%
10.6
y/y -1.1%
3.0
y/y 11.9%
13.6
y/y 1.6%
11.0
y/y 160.2%
15.8-4.0789.6
y/y -2.2%
420.8
y/y 4.8%
10.5%194.5Link
2024-12-31Q4 2024 (3M)OK62.0
y/y —
14.2
y/y —
3.2
y/y —
17.4
y/y —
7.9
y/y —
9.5-1.8824.1
y/y —
415.7
y/y —
6.7%1.0Link
2024-09-30Q3 2024 (3M)OK52.5
y/y 4.2%
9.9
y/y -7.2%
2.9
y/y -12.0%
12.8
y/y -8.3%
6.2
y/y 68.7%
-2.4-5.0817.8
y/y 6.9%
414.6
y/y 6.9%
2.0%181.1Link
2024-06-30Q2 2024 (3M)OK54.6
y/y 14.4%
11.0
y/y 6.9%
3.0
y/y 16.7%
14.1
y/y 8.9%
9.6
y/y 110.4%
4.2-5.4814.8
y/y 8.2%
408.1
y/y 7.8%
9.5%175.1Link
2024-03-31Q1 2024 (3M)OK49.4
y/y —
10.7
y/y —
2.7
y/y —
13.4
y/y —
4.2
y/y —
2.9-4.2807.7
y/y —
401.5
y/y —
4.2%107.6Link
2023-12-31Q4 2023 (3M)OK58.6
y/y —
13.2
y/y —
-1.0
y/y —
15.5
y/y —
3.0
y/y —
5.61.7782.5
y/y —
394.6
y/y —
6.8%104.2Link
2023-09-30Q3 2023 (3M)OK50.4
y/y —
10.7
y/y —
3.3
y/y —
14.0
y/y —
3.7
y/y —
1.7-2.7764.8
y/y —
387.7
y/y —
1.3%95.5Link
2023-06-30Q2 2023 (3M)OK47.7
y/y —
10.3
y/y —
2.6
y/y —
12.9
y/y —
4.6
y/y —
3.1-2.4753.3
y/y —
378.7
y/y —
—95.7Link

Net debt structure (leases included, IFRS 16) 2026-03-31

Short-term debt (incl. ST leases)66 183
Long-term debt (incl. LT leases)208 961
− Cash & equivalents55 408
Net debt219 736

Net debt / LTM EBITDA: 4.3x

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₱ mln)

020 00040 00060 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-30%-20%-10%0%10%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF (₱ mln)

-10 000-5 00005 00010 00015 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash (₱ mln)

050 000100 000150 000200 000250 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Profit and cash

Worth a look
In a typical year of 2024–2025 operating cash flow came to 0.71x of reported net profit; after capex, -0.15x.
year20242025
cash flow / profit-0.09x1.50x
accruals, % of assets3.7%-1.8%
Last twelve months (to 2025-Q2): 1.87x of profit came back as operating cash flow.
net debt / EBITDA 4.5x · capex 5.4x of depreciation
● Net debt / EBITDA 4.5x at the last full year.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Gold

Proved reserves
15.90 mln gold ounces
2025
Reserve life (R/P)
29.2 yrs
reserves ÷ annual output
Annual production
0.55 mln gold ounces
2025

Production, mln gold ounces

0.4620210.4620220.5320230.5720240.552025

Proved reserves

YearReserves, mln gold ounces
202515.90
202413.95
202310.69
202210.46
202110.26
20209.87

Production

YearProduction, mln gold ouncesper day, mln gold ounces
20260.12 * (3M)
−0.9%		0.00
20250.55
−3.8%		0.00
20240.57
+7.1%		0.00
20230.53
+15.0%		0.00
20220.46
+0.7%		0.00
20210.460.00
20200.24 * (6M)0.00

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: -50.7%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-03-31 vs 2025-03-31)
= (13 068 − 13 598) × 3.87
-2 050
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (82 113 + 219 736) ÷ 50 597
6.0x
3. Target multiple
(Current EV/EBITDA + 10) ÷ 2
= (6.0 + 10) ÷ 2
8.0x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -25 285 + 0 + 0 − 0
-25 285
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-2 050 × 8.0 + -25 285) ÷ 82 113
-50.7%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Investor reporting (IR): https://www.allianceglobal.com.ph/investor-relations#financial

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Alliance Global Group (AGI) — from primary filings.

Alliance Global Group is a Philippine conglomerate with core businesses in real estate development, food and beverage, and gaming and hospitality. Its operations include Megaworld Corporation for property, Emperador Inc. for spirits, and Resorts World Manila for integrated resorts.

Frequently asked questions

What is Alliance Global Group (AGI)'s P/E ratio?
Alliance Global Group (AGI) trades at a P/E of 3.0x (price to trailing 12-month earnings).
What is Alliance Global Group (AGI)'s EV/EBITDA?
Alliance Global Group (AGI) trades at 6.0x EV/EBITDA.
What is Alliance Global Group (AGI)'s P/B ratio?
Alliance Global Group (AGI) trades at a P/B of 0.2x.
What is Alliance Global Group (AGI)'s dividend yield?
Alliance Global Group (AGI)'s trailing 12-month dividend yield is 1.1%.
What is Alliance Global Group (AGI)'s return on equity (ROE)?
Alliance Global Group (AGI)'s ROE is 6.8%.
What is Alliance Global Group (AGI)'s market capitalization?
Alliance Global Group (AGI)'s market cap is 82.1 bn PHP.

See also: Philippine Stocks (2026): Where the Value Really Is (and the Traps) · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map