PLDT Inc (PHI) Balance Sheet

NYSE: PHIAssets, liabilities, debt and equity over 10 years.

PHI balance sheet, 2025

December 31, 2025 · PHP

₱634.51B assets = ₱506.49B liabilities + ₱128.02B equity

Both columns are drawn to the same scale: what PHI owns equals what it owes plus shareholders’ equity. Hover a block for its value.

PHI financial health

Current ratio0.44

Tight · current assets cover current liabilities 0.44×

Debt / equity2.83

High leverage · ₱2.83 of debt for each $1 of equity

Equity / assets20.0%

Thin equity · of assets funded by shareholders

Cash / debt3.4%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles20.1%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

PHI balance sheet trends, 2016–2025

PLDT Inc balance sheet trends
Metric	Then	Latest	Change
Total assets	₱475.12B2016	₱634.51B2025	+3.3%/yr
Total liabilities	₱366.58B2016	₱506.49B2025	+3.7%/yr
Shareholders’ equity	₱108.17B2016	₱126.83B2025	+1.8%/yr
Cash & short-term investments	₱41.79B2016	₱12.23B2025	−12.8%/yr
Total debt	₱185.03B2016	₱359.04B2025	+7.6%/yr
Net cash (debt)	−₱143.25B2016	−₱346.81B2025	−₱203.6B
Working capital	−₱95.88B2016	−₱89.69B2025	+₱6.2B
Current ratio	0.472016	0.442025	−0.04
Debt / equity	1.712016	2.832025	+1.12
Shares outstanding	216.1M2016	216.5M2025	+0.0%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

PHI assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

PHI liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

PHI debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

PHI balance sheet in PHP

PLDT Inc annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	₱12.23B	₱11.00B	₱17.09B	₱25.80B	₱33.42B	₱48.57B	₱35.68B	₱61.43B	₱34.08B	₱41.79B
Cash & equivalents	₱11.86B	₱10.01B	₱16.18B	₱25.21B	₱23.91B	₱40.24B	₱24.37B	₱51.65B	₱32.91B	₱38.72B
Short-term investments	₱368.8M	₱992.0M	₱911.0M	₱589.0M	₱9.51B	₱8.33B	₱11.31B	₱9.78B	₱1.17B	₱3.06B
Receivables	₱32.50B	₱33.01B	₱27.47B	₱27.83B	₱23.48B	₱23.85B	₱24.43B	₱26.24B	₱33.76B	₱24.44B
Inventory	₱1.84B	₱3.31B	₱3.34B	₱3.57B	₱3.66B	₱4.08B	₱3.41B	₱2.88B	₱3.93B	₱3.74B
Other current assets	₱22.80B	₱16.51B	₱22.22B	₱24.14B	₱13.38B	₱10.94B	₱12.06B	₱9.02B	₱17.90B	₱16.16B
Total current assets	₱69.38B	₱63.83B	₱70.12B	₱81.33B	₱73.93B	₱87.44B	₱75.58B	₱99.57B	₱89.67B	₱86.13B
Property, plant & equipment (net)	₱376.58B	₱357.18B	₱319.82B	₱321.61B	₱322.82B	₱279.17B	₱248.02B	₱195.96B	₱186.91B	₱203.19B
Goodwill & intangible assets	₱127.33B	₱64.46B	₱64.33B	₱64.55B	₱62.53B	₱65.33B	₱67.83B	₱68.58B	₱69.58B	₱70.28B
Long-term investments	₱57.42B	₱57.36B	₱54.76B	₱56.06B	₱57.20B	₱56.57B	₱59.38B	₱65.36B	₱61.45B	₱69.42B
Other non-current assets	₱3.80B	₱80.44B	₱100.48B	₱100.61B	₱109.84B	₱87.34B	₱74.22B	₱53.27B	₱51.66B	₱46.10B
Total assets	₱634.51B	₱623.27B	₱609.52B	₱624.16B	₱626.33B	₱575.85B	₱525.03B	₱482.75B	₱459.26B	₱475.12B
Liabilities
Accounts payable	₱56.35B	₱61.10B	₱76.88B	₱100.86B	₱87.64B	₱77.65B	₱69.44B	₱70.91B	₱56.28B	₱49.24B
Short-term debt	₱25.06B	₱30.68B	₱17.57B	₱42.77B	₱16.04B	₱21.61B	₱22.94B	₱20.44B	₱14.96B	₱33.27B
Deferred revenue	—	₱10.44B	₱10.69B	₱9.50B	₱10.06B	₱8.60B	₱7.88B	₱6.71B	₱8.04B	₱6.99B
Total current liabilities	₱159.06B	₱188.46B	₱196.67B	₱247.00B	₱224.27B	₱213.54B	₱204.45B	₱192.67B	₱168.09B	₱182.01B
Long-term debt	₱334.14B	₱304.95B	₱284.78B	₱249.25B	₱258.21B	₱221.18B	₱185.93B	₱155.84B	₱157.65B	₱151.76B
Lease obligations	₱64.17B	₱54.04B	₱47.55B	₱42.44B	₱21.69B	₱20.02B	₱16.32B	₱0	₱0	₱0
Other long-term liabilities	₱13.28B	₱13.13B	₱17.68B	₱13.95B	₱16.38B	₱21.47B	₱18.36B	₱17.58B	₱22.52B	₱32.81B
Total liabilities	₱506.49B	₱506.54B	₱499.13B	₱510.20B	₱498.86B	₱456.18B	₱408.74B	₱366.08B	₱348.26B	₱366.58B
Shareholders' equity
Common stock & paid-in capital	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B
Retained earnings (deficit)	₱43.31B	₱33.90B	₱22.02B	₱18.80B	₱34.24B	₱25.65B	₱18.06B	₱12.08B	₱634.0M	₱3.48B
Treasury stock	—	—	—	—	−₱6.50B	−₱6.53B	−₱6.90B	−₱7.36B	−₱7.45B	−₱6.50B
Accumulated other comprehensive income	−₱41.72B	−₱43.89B	−₱42.21B	−₱35.48B	−₱36.44B	−₱35.63B	−₱31.09B	−₱24.54B	−₱18.32B	−₱20.89B
Minority interest	₱1.19B	₱1.32B	₱5.17B	₱5.23B	—	—	₱0	₱0	₱0	₱0
Total shareholders' equity	₱126.83B	₱115.42B	₱105.22B	₱108.73B	₱123.22B	₱115.41B	₱111.99B	₱112.36B	₱106.84B	₱108.17B
Key figures
Total debt	₱359.04B	₱335.62B	₱302.34B	₱292.01B	₱274.24B	₱242.79B	₱208.87B	₱176.28B	₱172.61B	₱185.03B
Net cash (debt)	−₱346.81B	−₱324.62B	−₱285.26B	−₱266.21B	−₱240.82B	−₱194.22B	−₱173.19B	−₱114.84B	−₱138.53B	−₱143.25B
Working capital	−₱89.69B	−₱124.63B	−₱126.55B	−₱165.67B	−₱150.34B	−₱126.10B	−₱128.87B	−₱93.09B	−₱78.42B	−₱95.88B
Tangible book value	−₱504.3M	₱50.95B	₱40.88B	₱44.18B	₱60.68B	₱50.08B	₱44.16B	₱43.77B	₱37.26B	₱37.90B
Shares outstanding	216.5M	216.1M	216.1M	216.1M	216.1M	216.1M	216.1M	216.1M	216.1M	216.1M
Current ratio	0.44	0.34	0.36	0.33	0.33	0.41	0.37	0.52	0.53	0.47
Quick ratio	0.28	0.23	0.23	0.22	0.25	0.34	0.29	0.46	0.40	0.36
Debt / equity	2.83	2.91	2.87	2.69	2.23	2.10	1.87	1.57	1.62	1.71
Equity / assets	20.0%	18.5%	17.3%	17.4%	19.7%	20.0%	21.3%	23.3%	23.3%	22.8%

PLDT Inc quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	₱12.71B	₱14.87B	₱12.23B	₱10.38B	₱11.62B	₱14.66B	₱11.00B	₱13.28B	₱13.01B	₱14.43B	₱17.09B	₱22.25B
Cash & equivalents	₱11.92B	₱14.41B	₱11.86B	₱10.09B	₱10.84B	₱13.76B	₱10.01B	₱12.31B	₱11.97B	₱14.06B	₱16.18B	₱21.47B
Short-term investments	₱788.9M	₱461.9M	₱368.8M	₱290.0M	₱786.0M	₱904.0M	₱992.0M	₱974.0M	₱1.04B	₱376.0M	₱911.0M	₱778.0M
Receivables	₱36.57B	₱32.95B	₱32.50B	₱31.36B	₱32.54B	₱32.65B	₱33.01B	₱30.10B	₱29.26B	₱29.54B	₱27.47B	₱26.74B
Inventory	₱2.79B	₱2.31B	₱1.84B	₱2.17B	₱2.47B	₱2.75B	₱3.31B	₱1.99B	₱2.02B	₱2.37B	₱3.34B	₱2.46B
Other current assets	₱22.64B	₱23.88B	₱22.80B	₱18.03B	₱17.48B	₱17.85B	₱16.51B	₱19.45B	₱21.29B	₱24.52B	₱22.22B	₱32.25B
Total current assets	₱74.71B	₱74.01B	₱69.38B	₱61.95B	₱64.12B	₱67.91B	₱63.83B	₱64.81B	₱65.57B	₱70.86B	₱70.12B	₱83.71B
Property, plant & equipment (net)	₱376.34B	₱371.34B	₱376.58B	₱370.98B	₱367.41B	₱357.94B	₱357.18B	₱345.53B	₱342.74B	₱331.44B	₱319.82B	₱345.39B
Goodwill & intangible assets	₱64.49B	₱128.23B	₱127.33B	₱64.34B	₱64.40B	₱64.45B	₱64.46B	₱64.33B	₱64.31B	₱64.30B	₱64.33B	₱64.39B
Long-term investments	₱58.38B	₱58.80B	₱57.42B	₱57.50B	₱57.42B	₱57.42B	₱57.36B	₱56.92B	₱57.05B	₱54.32B	₱54.76B	₱53.75B
Other non-current assets	₱65.86B	₱1.55B	₱3.80B	₱74.80B	₱76.27B	₱78.94B	₱80.44B	₱88.40B	₱97.85B	₱100.86B	₱100.48B	₱85.48B
Total assets	₱639.79B	₱633.92B	₱634.51B	₱629.56B	₱629.62B	₱626.67B	₱623.27B	₱620.00B	₱627.53B	₱621.78B	₱609.52B	₱632.71B
Liabilities
Accounts payable	₱50.45B	₱53.26B	₱56.35B	₱49.78B	₱56.72B	₱54.16B	₱61.10B	₱68.32B	₱85.51B	₱84.66B	₱76.88B	₱77.99B
Short-term debt	₱41.20B	₱38.41B	₱25.06B	₱26.07B	₱30.40B	₱27.75B	₱30.68B	₱26.20B	₱18.38B	₱17.30B	₱17.57B	₱40.47B
Deferred revenue	₱9.62B	—	—	₱9.44B	₱10.08B	₱9.93B	₱10.44B	₱10.30B	₱9.99B	₱10.31B	₱10.69B	₱9.46B
Total current liabilities	₱168.99B	₱178.26B	₱159.06B	₱163.38B	₱174.08B	₱187.79B	₱188.46B	₱193.42B	₱200.45B	₱210.46B	₱196.67B	₱225.09B
Long-term debt	₱267.01B	₱266.39B	₱334.14B	₱332.22B	₱317.18B	₱309.13B	₱304.95B	₱296.95B	₱251.95B	₱244.03B	₱243.15B	₱275.75B
Lease obligations	₱63.09B	₱61.84B	₱64.17B	₱60.76B	₱55.77B	₱53.81B	₱54.04B	₱52.58B	₱51.88B	₱49.54B	₱47.55B	₱43.96B
Other long-term liabilities	₱68.35B	₱63.22B	₱13.28B	₱12.46B	₱12.94B	₱12.95B	₱13.13B	₱16.69B	₱60.86B	₱61.05B	₱59.31B	₱14.58B
Total liabilities	₱504.35B	₱507.87B	₱506.49B	₱508.06B	₱504.21B	₱509.87B	₱506.54B	₱507.06B	₱513.26B	₱515.54B	₱499.13B	₱515.42B
Shareholders' equity
Common stock & paid-in capital	₱1.10B	₱1.08B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B	₱1.09B
Retained earnings (deficit)	₱43.90B	₱41.87B	₱43.31B	₱38.40B	₱41.85B	₱32.76B	₱33.90B	₱29.30B	₱30.46B	₱21.89B	₱22.02B	₱23.30B
Accumulated other comprehensive income	−₱41.21B	−₱41.26B	−₱41.72B	−₱43.49B	−₱43.00B	−₱42.72B	−₱43.89B	−₱43.03B	−₱42.95B	−₱42.27B	−₱42.21B	−₱36.57B
Minority interest	₱1.30B	₱1.25B	₱1.19B	₱1.17B	₱1.14B	—	—	—	—	—	—	—
Total shareholders' equity	₱134.13B	₱124.81B	₱126.83B	₱120.33B	₱124.27B	₱115.45B	₱115.42B	₱111.68B	₱112.93B	₱105.03B	₱105.22B	₱112.14B
Key figures
Total debt	₱361.87B	₱354.15B	₱359.04B	₱358.29B	₱347.58B	₱336.88B	₱335.62B	₱323.16B	₱315.25B	₱304.48B	₱302.34B	₱316.21B
Net cash (debt)	−₱349.16B	−₱339.28B	−₱346.81B	−₱347.91B	−₱335.95B	−₱322.22B	−₱324.62B	−₱309.88B	−₱302.24B	−₱290.05B	−₱285.26B	−₱293.96B
Working capital	−₱94.28B	−₱104.25B	−₱89.69B	−₱101.44B	−₱109.97B	−₱119.88B	−₱124.63B	−₱128.61B	−₱134.88B	−₱139.60B	−₱126.55B	−₱141.38B
Tangible book value	₱69.64B	−₱3.41B	−₱504.3M	₱55.98B	₱59.87B	₱50.99B	₱50.95B	₱47.35B	₱48.62B	₱40.73B	₱40.88B	₱47.75B
Shares outstanding	216.1M	216.4M	216.7M	216.6M	216.4M	216.1M	216.0M	216.0M	216.0M	216.1M	216.1M	216.0M
Current ratio	0.44	0.42	0.44	0.38	0.37	0.36	0.34	0.34	0.33	0.34	0.36	0.37
Quick ratio	0.29	0.27	0.28	0.26	0.25	0.25	0.23	0.22	0.21	0.21	0.23	0.22
Debt / equity	2.70	2.84	2.83	2.98	2.80	2.92	2.91	2.89	2.79	2.90	2.87	2.82
Equity / assets	21.0%	19.7%	20.0%	19.1%	19.7%	18.4%	18.5%	18.0%	18.0%	16.9%	17.3%	17.7%

Quarterly columns are labeled by the month the quarter ended. Figures in PHP as reported (latest annual report filed April 27, 2026); data from EODHD.

PHI financial position

At the end of fiscal 2025 (December 31, 2025), PLDT had total assets of ₱634.5 billion (up 1.8% from a year earlier), total liabilities of ₱506.5 billion and shareholders' equity of ₱126.8 billion. It held ₱12.2 billion in cash and short-term investments against ₱359.0 billion of debt, net debt of ₱346.8 billion. Its current ratio was 0.44. In the latest quarter (ended June 30, 2026) total assets were ₱639.8 billion and equity ₱134.1 billion.

Related: PHI income statement, PHI cash flow statement, PHI key metrics. See the PHI stock overview for the latest quote and news.

PHI balance sheet FAQ

What are PLDT's total assets?

PLDT reported total assets of ₱634.5 billion at the end of fiscal 2025 (December 31, 2025), compared with ₱623.3 billion a year earlier.

How much debt does PLDT have?

PLDT had ₱359.0 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.83.

How much cash does PLDT have?

PLDT held ₱12.2 billion in cash and short-term investments at the end of fiscal 2025; with ₱359.0 billion of debt that is net debt of ₱346.8 billion.

What is PLDT's book value?

PLDT's shareholders' equity (book value) was ₱126.8 billion at the end of fiscal 2025.

What is PLDT's current ratio?

PLDT had current assets of ₱69.4 billion and current liabilities of ₱159.1 billion, a current ratio of 0.44 (current liabilities exceed current assets).

How much goodwill does PLDT have?

PLDT carried ₱127.3 billion of goodwill and intangible assets, 20.1% of total assets, at the end of fiscal 2025.