Company Valuation: Philippine Racing Club, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 3,757 3,960 4,005 3,249 3,554 3,608
Change - 5.39% 1.15% -18.88% 9.38% 1.54%
Enterprise Value (EV) 1 3,999 3,995 4,177 3,445 3,813 3,908
Change - -0.1% 4.55% -17.51% 10.69% 2.48%
P/E 29.9x 15.9x 33.5x 11.2x 93.5x -10.1x
PBR 0.83x 0.77x 0.81x 0.57x 0.69x 0.73x
PEG - 0.2x -0.6x 0x -1.1x 0x
Capitalization / Revenue 18.6x 13.3x 13.9x 7.85x 32.7x 21.3x
EV / Revenue 19.8x 13.4x 14.5x 8.33x 35.1x 23x
EV / EBITDA -62.6x 443x 50.3x 19.4x -46.5x -142x
EV / EBIT -46x -315x 59x 20.4x -42.6x -116x
EV / FCF 71.7x 24.2x -8.31x -125x 74x 327x
FCF Yield 1.4% 4.14% -12% -0.8% 1.35% 0.31%
Dividend per Share 2 0.08 0.08 0.08 0.08 0.08 -
Rate of return 1.08% 1.03% 1.01% 1.25% 1.14% -
EPS 2 0.2477 0.4894 0.2357 0.5735 0.0748 -0.651
Distribution rate 32.3% 16.3% 33.9% 14% 107% -
Net sales 1 202.2 297.3 288.4 413.7 108.6 169.7
EBITDA 1 -63.88 9.011 83.1 177.9 -82.01 -27.47
EBIT 1 -86.89 -12.69 70.77 169.2 -89.6 -33.82
Net income 1 125.8 248.4 119.7 291.1 38 -330.3
Net Debt 1 241.7 35.08 171.2 196.1 259.7 299.5
Reference price 2 7.400 7.800 7.890 6.400 7.000 6.600
Nbr of stocks (in thousands) 507,735 507,664 507,664 507,664 507,664 546,706
Announcement Date 18/05/21 16/05/22 03/05/23 02/05/24 30/04/25 02/06/26
1PHP in Million2PHP
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 43.73M
15.23x4.79x12.92x3.35% 43.13B
17.99x3.97x15.95x1.36% 28.45B
8.19x1.5x7.92x4.37% 27.25B
5.47x0.65x1.38x9.14% 26.33B
14.13x3.07x14.71x2.55% 25.93B
10.63x2.15x9.15x3.95% 21.38B
7.86x0.87x3.17x2.84% 20.11B
13.18x6.42x16.89x1.65% 19.35B
37.66x13.8x34.28x3.14% 18.25B
Average 14.48x 4.14x 12.93x 3.6% 23.02B
Weighted average by Cap. 14.03x 3.90x 12.41x 3.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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