PLDT Inc. (PHI) vs VEON Ltd. (VEON)

PLDT Inc. and VEON Ltd. are both Telecom Services companies. VEON Ltd. is the larger, with a market value of $4.6B against $3.8B — 1.2× the size. PLDT Inc. trades at the lower P/E: 8.1× against 88.6×. VEON Ltd. grew revenue faster over the last twelve months: 14.7% against −1.98%. PLDT Inc. has the higher net margin (12.1% vs 1.24%) and the lower return on invested capital (5.94% vs 12.7%). Across the 22 metrics below, PLDT Inc. leads on 13 and VEON Ltd. on 9.

Valuation

Metric PHI VEON Telecom Services median
P/E 8.12 88.58 13.27
P/S 0.99 1.08 0.95
P/B 1.69 2.67 1.47
Price to free cash flow 4.98 7.50 8.72
EV/EBITDA 4.74 4.39 6.85
EV/Sales 2.24 1.74 1.87
Earnings yield 12.31% 1.13% 1.66%
Free cash flow yield 20.09% 13.33% 5.53%

Profitability

Metric PHI VEON Telecom Services median
Gross margin 85.00% 87.07% 51.26%
Operating margin 17.50% 21.75% 7.62%
Net margin 12.12% 1.24% 4.22%
Free cash flow margin 21.75% 14.35% 4.73%
Return on equity 20.51% 3.45% 5.80%
Return on assets 4.19% 0.63% 0.00%
Return on invested capital 5.94% 12.72% 3.41%

Growth

Metric PHI VEON Telecom Services median
Revenue growth (TTM) (1.98%) 14.71% 3.31%
EPS growth (last fiscal year) (7.66%) 29.49% —
Revenue growth, 5-year CAGR 0.77% (9.61%) 1.50%
Net income growth, 5-year CAGR 0.29% 0.00% 0.00%

Health

Metric PHI VEON Telecom Services median
Debt to equity 2.20 3.05 0.63
Current ratio 0.44 0.97 1.13
Net debt to EBITDA 2.68 1.30 1.86

Dividend

Metric PHI VEON Telecom Services median
Dividend yield 7.74% — 4.06%
Payout ratio 2.38 0.00 0.00

Size

Metric PHI VEON Telecom Services median
Market cap 3.77b 4.62b 3.06b

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