Financials Metropolitan Bank & Trust Company

Equities

MBT

PHY6028G1361

Banks

End-of-day quote Philippines S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
69.5 PHP +0.29% Intraday chart for Metropolitan Bank & Trust Company +3.58% +35.48%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 298,117 220,538 250,434 242,789 230,651 312,481 - -
Enterprise Value (EV) 1 298,117 220,538 250,434 242,789 230,651 312,481 312,481 312,481
P/E ratio 10.6 x 15.9 x 11.3 x 7.41 x 5.46 x 6.64 x 6.39 x 6.06 x
Yield 1.51% 2.04% 7.18% 5.56% - 6.79% 6.29% 6.19%
Capitalization / Revenue 2.81 x 1.82 x 2.48 x 2.16 x 1.73 x 2.12 x 2.01 x 1.86 x
EV / Revenue 2.81 x 1.82 x 2.48 x 2.16 x 1.73 x 2.12 x 2.01 x 1.86 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.96 x 0.68 x 0.79 x 0.76 x - 0.81 x 0.75 x 0.68 x
Nbr of stocks (in thousands) 4,496,486 4,496,188 4,496,117 4,496,089 4,496,125 4,496,126 - -
Reference price 2 66.30 49.05 55.70 54.00 51.30 69.50 69.50 69.50
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 1 106,051 121,236 100,880 112,322 133,474 147,119 155,833 167,623
EBITDA - - - - - - - -
EBIT 1 48,145 61,116 41,407 52,000 63,952 69,710 74,028 77,642
Operating Margin 45.4% 50.41% 41.05% 46.3% 47.91% 47.38% 47.5% 46.32%
Earnings before Tax (EBT) 1 38,935 21,020 30,141 43,918 55,849 62,589 65,436 65,887
Net income 1 28,100 13,800 22,156 32,800 42,238 47,052 49,487 49,684
Net margin 26.5% 11.38% 21.96% 29.2% 31.65% 31.98% 31.76% 29.64%
EPS 2 6.240 3.080 4.930 7.290 9.390 10.46 10.88 11.46
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.000 1.000 4.000 3.000 - 4.721 4.375 4.302
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 Q3 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
Net sales 1 24,366 24,996 27,620 27,401 27,201 30,565 32,995 32,517 34,679 33,283 35,678 36,102 36,757 37,111 37,160
EBITDA - - - - - - - - - - - - - - -
EBIT 1 9,300 9,966 12,739 12,849 - - 16,100 15,738 17,113 15,001 17,170 17,937 17,877 17,947 -
Operating Margin 38.17% 39.87% 46.12% 46.89% - - 48.8% 48.4% 49.35% 45.07% 48.12% 49.68% 48.64% 48.36% -
Earnings before Tax (EBT) 1 6,310 8,720 10,690 11,073 10,224 11,931 13,708 13,623 14,822 13,696 15,070 15,584 15,280 15,602 15,124
Net income 1 4,436 6,033 7,986 7,600 7,849 9,300 10,482 10,416 10,888 10,452 11,501 11,878 11,642 11,892 11,521
Net margin 18.21% 24.14% 28.91% 27.74% 28.86% 30.43% 31.77% 32.03% 31.4% 31.4% 32.24% 32.9% 31.67% 32.04% 31.01%
EPS 2 0.9900 1.340 1.780 1.690 1.750 2.080 2.330 2.320 2.420 2.320 2.557 2.623 2.597 2.462 2.562
Dividend per Share 2 - 4.000 - - - 1.600 - - - - - - - 5.000 -
Announcement Date 11/5/21 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 - - - - -
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% - 12.7% 12.4% 12%
ROA (Net income/ Total Assets) 1.2% 0.56% 0.89% 1.23% - 1.44% 1.39% 1.36%
Assets 1 2,341,667 2,447,503 2,478,854 2,666,667 - 3,265,670 3,559,202 3,659,289
Book Value Per Share 2 68.80 72.10 70.80 70.80 - 85.80 93.10 102.0
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
69.5 PHP
Average target price
78.44 PHP
Spread / Average Target
+12.86%
Consensus
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