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Globe Telecom PHP

Globe Telecom is a major telecommunications provider in the Philippines, offering mobile, fixed-line, broadband, and digital services to consumers and businesses.

At a glance: strengths & risks
✓Revenue growing (+8% y/y, Q2 2026)✗Margins compressing (48%→38%, Q2 2026)✗High leverage (3.3x EBITDA)

Sector: Telecommunications

PH_GLO

Price chart

1 530 PHPDay -0.26%

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
1 530 PHP · -0.26%
Market cap
221.3 bn PHP

Growth

Δ revenue y/y
7.9%
Δ EBITDA y/y
-14.5%

Multiples

P/E (LTM)
10.1x
P/B (FY)
1.3x
P/E (ann.)
10.1x
EV/EBITDA (LTM)
5.6x
EV/EBITDA (ann.)
6.0x

Cash return

Dividend yield
6.5%
FCF yield (LTM)
7.0%

Value creation

fundamental value/yr, % of market cap
Value created / year
-36.7%
↓ 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
2026-06-30Q2 2026 (3M)OK47.0
y/y 7.9%
3.5
y/y -61.8%
14.3
y/y 23.6%
17.8
y/y -14.5%
5.5
y/y 0.4%
-5.51.5671.4
y/y 4.5%
177.8
y/y 3.0%
11.5%≈ 208.8Link
2026-03-31Q1 2026 (3M)PARTIAL45.7
y/y 4.5%
3.3
y/y 1.8%
14.4
y/y 7.1%
17.7
y/y 6.1%
5.6
y/y -20.4%
23.6-12.7687.3
y/y 8.2%
202.4
y/y 18.1%
11.8%208.8Link
2025-12-31Q4 2025 (3M)OK44.1
y/y -4.0%
7.5
y/y -23.4%
11.8
y/y 1.3%
19.3
y/y -10.0%
5.6
y/y 49.4%
18.8-14.6656.0
y/y 3.5%
174.5
y/y 4.0%
13.3%231.3Link
2025-09-30Q3 2025 (3M)OK44.4
y/y -1.6%
9.2
y/y -3.8%
12.1
y/y 10.8%
21.4
y/y 4.0%
5.3
y/y -12.8%
24.6-12.6656.8
y/y 4.4%
174.4
y/y 3.1%
12.1%224.4Link
2025-06-30Q2 2025 (3M)OK43.5
y/y -1.9%
9.3
y/y -6.3%
11.5
y/y 5.9%
20.8
y/y 0.1%
5.5
y/y -29.5%
13.4-10.4642.7
y/y 2.3%
172.6
y/y 3.6%
12.7%228.6Link
2025-03-31Q1 2025 (3M)OK43.8
y/y -3.5%
3.2
y/y -68.2%
13.4
y/y 25.5%
16.7
y/y -20.0%
7.0
y/y 2.5%
22.7-8.4635.5
y/y 2.6%
171.3
y/y 5.5%
16.5%223.2Link
2024-12-31Q4 2024 (3M)OK46.0
y/y —
9.8
y/y —
11.6
y/y —
21.4
y/y —
3.7
y/y —
19.2-15.1633.6
y/y —
167.8
y/y —
14.4%322.0Link
2024-09-30Q3 2024 (3M)OK45.1
y/y 2.0%
9.6
y/y -0.8%
11.0
y/y 10.9%
20.6
y/y 5.1%
6.0
y/y 21.3%
22.7-12.6628.9
y/y 1.8%
169.1
y/y 5.2%
14.4%332.3Link
2024-06-30Q2 2024 (3M)OK44.4
y/y -0.8%
9.9
y/y 4.2%
10.9
y/y 7.1%
20.8
y/y 5.7%
7.7
y/y 9.5%
19.2-14.5628.3
y/y 2.5%
166.6
y/y 4.6%
18.8%330.5Link
2024-03-31Q1 2024 (3M)OK45.3
y/y —
10.1
y/y —
10.7
y/y —
20.8
y/y —
6.8
y/y —
23.6-13.7619.6
y/y —
162.4
y/y —
16.9%187.2Link
2023-12-31Q4 2023 (3M)OK46.3
y/y —
8.7
y/y —
11.0
y/y —
19.7
y/y —
5.2
y/y —
28.7-16.6611.6
y/y —
159.9
y/y —
13.0%196.5Link
2023-09-30Q3 2023 (3M)OK44.3
y/y —
9.7
y/y —
9.9
y/y —
19.6
y/y —
5.0
y/y —
17.6-16.3617.5
y/y —
160.8
y/y —
12.4%165.5Link
2023-06-30Q2 2023 (3M)OK44.7
y/y —
9.5
y/y —
10.2
y/y —
19.7
y/y —
7.1
y/y —
20.5-20.1612.7
y/y —
159.2
y/y —
—160.0Link

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

Short-term debt (incl. ST leases)0
Long-term debt (incl. LT leases)251 237
− Cash & equivalents42 400
Net debt208 837

Net debt / LTM EBITDA: 2.7x

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₱ mln)

010 00020 00030 00040 00050 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-20%-10%0%10%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) (₱ mln)

05 00010 00015 00020 00025 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash (₱ mln)

0100 000200 000300 000400 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2024–2025 operating cash flow came to 3.37x of reported net profit; after capex, 1.22x.
year20242025
cash flow / profit3.31x3.42x
accruals, % of assets-8.9%-8.6%
Last twelve months (to 2026-06-30): 2.81x of profit came back as operating cash flow.
net debt / EBITDA 3.3x · capex 1.0x of depreciation
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.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Fundamental value creation

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

Value created per year: -36.7%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (17 808 − 20 828) × 4.28
-12 913
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (221 286 + 208 837) ÷ 76 167
5.6x
3. Target multiple
(Current EV/EBITDA + 10) ÷ 2
= (5.6 + 10) ÷ 2
7.8x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 19 747 + 0 + 0 − 0
19 747
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-12 913 × 7.8 + 19 747) ÷ 221 286
-36.7%

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

Caveats:

  • FCF (LTM) approximated by latest FY (ended 2025-12-31, before the latest reported period 2026-06-30)
  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Peer comparison

Group: Telecommunications. Each peer is shown as it trades and re-priced onto this company's market (Philippines) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
KT CorporationKorea8.13.3x2.7x
e& (Etisalat Group)UAE49.65.1x2.9x
Telkom IndonesiaIndonesia10.82.5x3.1x
America Movil (AMX)Mexico73.44.7x3.5x
MTN GroupSouth Africa22.23.7x3.9x
Telefonica Brasil (Vivo)Brazil18.64.2x3.9x
MTSRussia4.13.2x4.8x
PLDTPhilippines3.85.3x5.3x
Vodacom GroupSouth Africa18.65.5x5.7x
du (EITC)UAE15.410.5x6.1x
Kcell JSCKazakhstan2.813.6x12.5x
TIM S.A.Brazil43.316.3x15.2x
Group median4.9x4.4x
Group average6.5x5.8x
This companyPhilippines3.55.6x5.6x

Group median 4.9x as traded, 4.4x adjusted; this company 5.6x — a 29% premium.

Group average 6.5x as traded, 5.8x adjusted; against the average this company is at a 3% discount. The average sits 33% above the median: TIM S.A. (15.2x) skews the group.

At the adjusted group median the market cap would be -46% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.1x, Russia 3.8x, South Africa 5.5x, Kazakhstan 6.2x, India 17.7x, Indonesia 4.6x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-30; the company's own is live.

Dividends

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

Investor reporting (IR): https://www.globe.com.ph/about-us/investors/financial-information.html

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 Globe Telecom — from primary filings.

Frequently asked questions

What is Globe Telecom's P/E ratio?
Globe Telecom trades at a P/E of 10.1x (price to trailing 12-month earnings).
What is Globe Telecom's EV/EBITDA?
Globe Telecom trades at 5.6x EV/EBITDA.
What is Globe Telecom's P/B ratio?
Globe Telecom trades at a P/B of 1.3x.
What is Globe Telecom's dividend yield?
Globe Telecom's trailing 12-month dividend yield is 6.5%.
What is Globe Telecom's return on equity (ROE)?
Globe Telecom's ROE is 11.5%.
What is Globe Telecom's market capitalization?
Globe Telecom's market cap is 221.3 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