SDN Company. vs Manila Electric: Fair Value & Quality
Both stocks run through our valuation models. Here is how SDN Company. (099220) and Manila Electric (MER) compare, as of Aug 11, 2026.
As of Aug 11, 2026, Fair Value Calculator sees Manila Electric as the more attractively valued of the two: SDN Company. trades at KRW 676 versus a fair value of KRW 423 (-37%), while Manila Electric trades at PHP 578 versus PHP 988 (+71%).
SDN Company.
099220.KQ · KRW · Industrials
-37%
upside to fair value
overvalued
PriceKRW 676
Fair ValueKRW 423
Quality42/100
Manila Electric
MER.PSE · PHP · Industrials
+71%
upside to fair value
undervalued
PricePHP 578
Fair ValuePHP 988
Quality55/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
SDN Company.Manila Electric
Valuation
—P/E (TTM)16.1×
1.4×EV/EBITDA—
Profitability
1%Net margin0%
5%Operating margin0%
2%Return on assets0%
Growth
58%Revenue growth (YoY)0%
-5.8%Avg. growth/yr (3Y)13.9%
1.8%Avg. growth/yr (5Y)8.7%
Balance & size
0.22×Debt / equity0.38×
$31MMarket cap$5B
weakGrowth qualitymixed
SDN Company. leads: 5 to 2 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
SDN Company.of which business quality 40 · market factors 16Manila Electricof which business quality 51 · market factors 54
ProfitabilityMargins and returns on capital today
18
63
Quality GrowthAre margins and returns improving?
71
50
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
100
49
Low VolatilityCalm price path (market factor)
55
79
MomentumPrice trend over the last 3–12 months (market factor)
0
43
52W MomentumDistance to the 52-week high (market factor)
1
45
Net IssuanceBuybacks instead of dilution
15
82
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
SDN Company.
DCF ModelsKRW 469
Dividend DiscountKRW 671
MultiplesKRW 356
Asset-BasedKRW 814
Growth DCFKRW 377
9 of 11 models see the stock below the current price.
Manila Electric
DCF ModelsPHP 971
Earnings-BasedPHP 763
Dividend DiscountPHP 894
MultiplesPHP 1,485
Asset-BasedPHP 191
Growth DCFPHP 61.56
Economic ProfitPHP 888
Growth EarningsPHP 1,748
3 of 25 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
SDN Company.
Bear KRW 222Fair Value KRW 423Bull KRW 656
KRW 676 = current price (white tick)
Manila Electric
Bear PHP 604Fair Value PHP 988Bull PHP 1,896
PHP 578 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
SDN Company. · Industrials
Quality score42 · bottom 25%
Fair value upside-37% · below median
Manila Electric · Industrials
Quality score55 · above median
Fair value upside+71% · Top 25%
Bottom line
As of Aug 11, 2026, Fair Value Calculator sees Manila Electric as the more attractively valued of the two: SDN Company. trades at KRW 676 versus a fair value of KRW 423 (-37%), while Manila Electric trades at PHP 578 versus PHP 988 (+71%).
Manila Electric has the higher quality score (55/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
