Manila Electric Co (MAEOY) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Manila Electric Co $17.66, price $14.23, upside +24.1%, quality 35 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range $6.25 – $24.56 · fair‑value band $12.39 – $29.27 · the $14.23 price screens below the $17.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines. It operates in Power and Other Services segments. The company generates power with a total capacity of 2,436 megawatts of coal, liquid natural gas, renewable, and diesel plants.
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Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines. It operates in Power and Other Services segments. The company generates power with a total capacity of 2,436 megawatts of coal, liquid natural gas, renewable, and diesel plants. It offers power to industrial, commercial, and residential customers in cities and municipalities, including Bulacan, Cavite, Metro Manila, and Rizal, as well as cities, municipalities, and barangays in the provinces of Batangas, Laguna, Pampanga, and Quezon; distributes power to customers in Clark Special Economic Zone; owns and operates coal and diesel-fired power plants; and develops, constructs, and operates solar-powered generation facilities and liquefied natural gas power plants. The company also provides electro-mechanical engineering, construction, consulting, and related manpower services; e-transaction and bills collection; telecommunications services; insurance and re-insurance services; e-business development; power distribution and energy systems management; renewable harnessing services; and electric vehicle and charging infrastructure solutions. In addition, it offers engineering, construction, and consulting services; tellering services; information technology and multi-media; insurance; and engineering, construction, and maintenance of mass transit system services. Further, the company operates and maintains transport service networks; and engages in the construction and leasing of communication towers, and other infrastructure, as well as in real estate, property management and leasing, and coal trading businesses. Manila Electric Company was founded in 1903 and is headquartered in Pasig, the Philippines.
Stock analysis
Manila Electric Co ADR (MAEOY) currently trades at $14.23, while our model-based Fair Value estimate is $17.66, implying the stock looks roughly 19.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $64.84 per share, and 11 of the 16 models we run sit above the $14.23 price.
Bear case: the Asset-Based group reads lowest at $3.29, and 5 of the 16 models stay below the price. Evidence for this calculation is medium.
Scenario range: $12.39 (bear) to $29.27 (bull), the price of $14.23 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 35/100 (below-average quality), in the Utilities sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Manila Electric Co ADR reported revenue of 509B PHP in FY2025 versus 6.5B PHP in FY2021, a compound +197.8%/yr. Reported net income was 52.3B PHP in FY2025, compounding +223.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap $10.9B · P/E ratio 9.4 · P/S ratio 0.97 · EPS (TTM) $1.51 · Dividend yield 4.9% · Net margin 10.3% · Return on equity 25.1% · Return on assets (EBIT) 7.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
For context, the median of 10 Utilities peers we cover trades at −31% fair-value upside, at 24%, MAEOY screens cheaper than that median.
Fair Value models
Bear $12.39Fair Value $17.66Bull $29.27
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.54/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+8.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+302.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+146.8%
Start year 2020 (pandemic)
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.9%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
News mood ⓘNews mood, the average tone of recent news (5 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 155 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score35 · Bottom 25%
Fair Value upside+53.0% · Top 25%
Profitability
Return on equity (TTM)25.1% · Top 25%
Return on assets3.7% · Above median
Net margin (TTM)10.2% · Below median
Operating margin (TTM)8.5% · Below median
Growth and dividend
Revenue growth5.5% · Above median
Dividend yield (TTM)4.9% · Top 25%
Balance sheet
Debt / equity1.08× · Above median
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Manila Electric Co ADR Fair Value". https://www.fairvalue-calculator.com/stock/MAEOY
Frequently asked questions
Is Manila Electric Co (MAEOY) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $17.66 versus the last price from Sep 25, 2026 of $14.23, about +24% upside (undervalued).
What is the fair value of MAEOY?
Our model-based fair value for Manila Electric Co ADR is $17.66 (as of Oct 3, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $14.23.
What is the quality score of MAEOY?
Manila Electric Co ADR has a Quality Score of 35/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Manila Electric Co (MAEOY)?
Our model-based price target is the fair value of $17.66 (as of Oct 3, 2026) from 16 valuation models. Cautious scenario $12.39, optimistic scenario $29.27. It is a calculation from audited fundamentals, not an analyst target.
What is the Manila Electric Co ADR stock forecast for 2026?
Our models put fair value at $17.66, about +24% upside versus the last price from Sep 25, 2026 of $14.23 (undervalued). Cautious scenario $12.39, optimistic scenario $29.27. The calculation is refreshed regularly with new filings.
What is the revenue of Manila Electric Co (MAEOY)?
Manila Electric Co ADR reported trailing-twelve-month revenue of about $504B (latest available figure, as of Oct 3, 2026).
Does Manila Electric Co ADR pay a dividend?
Manila Electric Co ADR currently shows a dividend yield of about 4.94% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Manila Electric Co (MAEOY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Manila Electric Co ADR it is $17.66 per share (as of Oct 3, 2026), against a price of $14.23. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Manila Electric Co ADR stock overvalued or undervalued in 2026?
As of Oct 3, 2026, MAEOY trades below its calculated fair value: price $14.23, fair value $17.66, a gap of about +24% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MAEOY?
No. The price is what the market pays today ($14.23); the fair value is what the company's own numbers justify ($17.66). For Manila Electric Co ADR the two are $3.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is Manila Electric Co ADR worth?
The market values Manila Electric Co ADR at about $10.9B (market capitalisation, as of Oct 3, 2026). Per share that is $14.23; our models calculate a fair value of $17.66 per share.
What do the bullish and bearish scenarios say about MAEOY?
Our models span a range for Manila Electric Co ADR: cautious scenario $12.39, base $17.66, optimistic $29.27 per share (as of Oct 3, 2026, price $14.23). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MAEOY?
Manila Electric Co ADR trades at a price-to-earnings ratio of 9.4 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $17.66 is built from several models across several years. Other multiples: PEG 1.3.
What is the PEG ratio of MAEOY?
The PEG ratio of Manila Electric Co ADR is 1.28 (P/E divided by earnings growth, as of Oct 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Manila Electric Co (MAEOY)?
Balance-sheet figures for Manila Electric Co ADR (as of Oct 3, 2026): return on equity 25.1%, debt of 1.08 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
Which stocks are comparable to Manila Electric Co ADR?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Manila Electric Co ADR stock attractive at the current price?
The data as of Oct 3, 2026: price $14.23, calculated fair value $17.66 (+24%), Quality Score 35/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MAEOY calculated?
We run Manila Electric Co ADR through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $17.66, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Manila Electric Co ADR currently trades 19 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Manila Electric Co (MAEOY)?
The latest price we hold is from Sep 25, 2026 and stands at $14.23. Our model-based fair value is $17.66, about +24% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Manila Electric Co ADR right now?
A fairly wide model range ($12.39 to $29.27) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Manila Electric Co (MAEOY) come from?
Earnings per share at Manila Electric Co ADR grew +10.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.7 %, EBIT margin −1.9 %, tax rate +1.6 %, residual (interest, one-offs) +3.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Manila Electric Co ADR
How large is the market capitalisation of Manila Electric Co (MAEOY)?
The market capitalisation of Manila Electric Co ADR is $10.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Manila Electric Co (MAEOY)?
The price-to-sales ratio of Manila Electric Co ADR is 0.97 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Manila Electric Co (MAEOY)?
Earnings per share at Manila Electric Co ADR are $1.51 (price ÷ EPS = P/E 9.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Manila Electric Co (MAEOY)?
The dividend yield of Manila Electric Co ADR is 4.9% (payout 46.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Manila Electric Co (MAEOY)?
The net margin of Manila Electric Co ADR is 10.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Manila Electric Co (MAEOY)?
The return on equity (ROE) of Manila Electric Co ADR is 25.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Manila Electric Co (MAEOY)?
On an EBIT basis the return on assets of Manila Electric Co ADR is 7.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Manila Electric Co (MAEOY)?
The operating margin of Manila Electric Co ADR is 8.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Manila Electric Co (MAEOY)?
Revenue at Manila Electric Co ADR is growing +5.5% versus a year earlier (3y avg +302%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Manila Electric Co (MAEOY)?
Earnings per share at Manila Electric Co ADR are growing +3.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Manila Electric Co (MAEOY) generate?
The free cash flow of Manila Electric Co ADR is −$31.9B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Manila Electric Co (MAEOY) carry?
The net debt of Manila Electric Co ADR is $121B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Oct 3, 2026