Financials Metropolitan Bank & Trust Company

Equities

MBT

PHY6028G1361

Banks

End-of-day quote Philippines S.E. 06:00:00 2024-07-15 pm EDT 5-day change 1st Jan Change
67.5 PHP -0.81% Intraday chart for Metropolitan Bank & Trust Company +3.69% +31.58%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 298,117 220,538 250,434 242,789 230,651 303,576 - -
Enterprise Value (EV) 1 298,117 220,538 250,434 242,789 230,651 303,576 303,576 303,576
P/E ratio 10.6 x 15.9 x 11.3 x 7.41 x 5.46 x 6.42 x 6.16 x 5.71 x
Yield 1.51% 2.04% 7.18% 5.56% 5.85% 7.41% 6.6% 6.7%
Capitalization / Revenue 2.81 x 1.82 x 2.48 x 2.16 x 1.73 x 2.07 x 1.95 x 1.81 x
EV / Revenue 2.81 x 1.82 x 2.48 x 2.16 x 1.73 x 2.07 x 1.95 x 1.81 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.96 x 0.68 x 0.79 x 0.76 x 0.65 x 0.78 x 0.72 x 0.66 x
Nbr of stocks (in thousands) 4,496,486 4,496,188 4,496,117 4,496,089 4,496,125 4,497,416 - -
Reference price 2 66.30 49.05 55.70 54.00 51.30 67.50 67.50 67.50
Announcement Date 2/20/20 2/17/21 2/24/22 2/23/23 2/23/24 - - -
1PHP in Million2PHP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 106,051 121,236 100,880 112,322 133,474 146,324 155,834 168,068
EBITDA - - - - - - - -
EBIT 1 48,145 61,116 41,407 52,000 63,952 69,289 72,442 80,489
Operating Margin 45.4% 50.41% 41.05% 46.3% 47.91% 47.35% 46.49% 47.89%
Earnings before Tax (EBT) 1 38,935 21,020 30,141 43,918 55,849 63,106 65,070 69,475
Net income 1 28,100 13,800 22,156 32,800 42,238 47,271 48,917 52,219
Net margin 26.5% 11.38% 21.96% 29.2% 31.65% 32.31% 31.39% 31.07%
EPS 2 6.240 3.080 4.930 7.290 9.390 10.51 10.96 11.83
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.000 1.000 4.000 3.000 3.000 5.000 4.455 4.525
Announcement Date 2/20/20 2/17/21 2/24/22 2/23/23 2/23/24 - - -
1PHP in Million2PHP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 24,996 27,620 27,401 27,201 30,565 32,995 32,517 34,679 33,283 35,278 36,294 37,209 37,484 38,128 37,900
EBITDA - - - - - - - - - - - - - - -
EBIT 1 9,966 12,739 12,849 - - 16,100 15,738 17,113 15,001 17,278 17,482 17,729 17,780 19,138 -
Operating Margin 39.87% 46.12% 46.89% - - 48.8% 48.4% 49.35% 45.07% 48.98% 48.17% 47.65% 47.43% 50.19% -
Earnings before Tax (EBT) 1 8,720 10,690 11,073 10,224 11,931 13,708 13,623 14,822 13,696 16,716 15,861 15,853 16,283 16,082 16,026
Net income 1 6,033 7,986 7,600 7,849 9,300 10,482 10,416 10,888 10,452 11,997 12,055 12,086 12,419 12,264 12,220
Net margin 24.14% 28.91% 27.74% 28.86% 30.43% 31.77% 32.03% 31.4% 31.4% 34.01% 33.22% 32.48% 33.13% 32.16% 32.24%
EPS 2 1.340 1.780 1.690 1.750 2.080 2.330 2.320 2.420 2.320 2.670 2.680 2.671 2.647 2.727 2.717
Dividend per Share 2 4.000 - - - 1.600 - - - 3.000 - - - 5.000 - -
Announcement Date 2/24/22 4/29/22 8/2/22 11/4/22 2/23/23 5/5/23 8/2/23 10/27/23 2/23/24 4/30/24 - - - - -
1PHP in Million2PHP
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 9.47% 4.36% 6.89% 10.3% 12.5% 12.8% 12.4% 12.3%
ROA (Net income/ Total Assets) 1.2% 0.56% 0.89% 1.23% 1.42% 1.45% 1.39% 1.38%
Assets 1 2,341,667 2,447,503 2,478,854 2,666,667 2,974,507 3,253,341 3,520,034 3,797,593
Book Value Per Share 2 68.80 72.10 70.80 70.80 79.30 86.00 93.50 102.0
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/20/20 2/17/21 2/24/22 2/23/23 2/23/24 - - -
1PHP in Million2PHP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
13
Last Close Price
67.5 PHP
Average target price
81.8 PHP
Spread / Average Target
+21.19%
Consensus
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