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First Pacific

DB:FPC
Snowflake Description

Average dividend payer with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FPC
DB
HK$12B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

First Pacific Company Limited, an investment management and holding company, engages in the consumer food products, telecommunications, infrastructure, and natural resources businesses in the Philippines, Indonesia, Australasia, Singapore, and internationally. The last earnings update was 24 days ago. More info.


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  • First Pacific has significant price volatility in the past 3 months.
FPC Share Price and Events
7 Day Returns
-4.4%
DB:FPC
5%
DE Diversified Financial
2.8%
DE Market
1 Year Returns
-23.7%
DB:FPC
1.4%
DE Diversified Financial
3%
DE Market
FPC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Pacific (FPC) -4.4% -11.6% -12.6% -23.7% -53.8% -62.3%
DE Diversified Financial 5% 7.8% -5% 1.4% 75.8% 333.7%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • FPC underperformed the Diversified Financial industry which returned 1.4% over the past year.
  • FPC underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
FPC
Industry
5yr Volatility vs Market

Value

 Is First Pacific undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Pacific to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Pacific.

DB:FPC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $0.73 * 6.3%
$0.05
Book Value of Equity per Share Median Book Value from the past 5 years. $0.73
Discount Rate (Cost of Equity) See below 13.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:FPC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 25%) (576.35%))
2.896
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 6.65%)
13.53%

Discounted Cash Flow Calculation for DB:FPC using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Pacific is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:FPC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.3% – 13.53%) * $0.73)
$-0.05
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.05 / (13.53% - 0.23%)
$-0.40
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $0.73 + $-0.40
$0.33
DB:FPC Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:142)
7.844
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $0.33 x 7.844
HK$2.6
Non-primary Listing Adjustment Factor 1 share in DB:FPC represents 0.10968x of SEHK:142
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10968x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 2.60 x 0.10968
€0.28
Value per share (EUR) From above. €0.28
Current discount Discount to share price of €0.31
= -1 x (€0.31 - €0.28) / €0.28
-7.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of First Pacific is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Pacific's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Pacific's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:FPC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $-0.03
SEHK:142 Share Price ** SEHK (2019-10-11) in HKD HK$2.79
SEHK:142 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.127 $0.36
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Pacific.

DB:FPC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:142 Share Price ÷ EPS (both in USD)

= 0.36 ÷ -0.03

-10.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Pacific is loss making, we can't compare its value to the DE Diversified Financial industry average.
  • First Pacific is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does First Pacific's expected growth come at a high price?
Raw Data
DB:FPC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -10.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
57%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for First Pacific, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on First Pacific's assets?
Raw Data
DB:FPC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $0.69
SEHK:142 Share Price * SEHK (2019-10-11) in HKD HK$2.79
SEHK:142 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.127 $0.36
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:FPC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:142 Share Price ÷ Book Value per Share (both in USD)

= 0.36 ÷ 0.69

0.52x

* Primary Listing of First Pacific.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Pacific is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess First Pacific's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Diversified Financial industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Diversified Financial industry average (and greater than 0)? (1 check)
  5. First Pacific has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is First Pacific expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
57%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Pacific expected to grow at an attractive rate?
  • First Pacific's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • First Pacific's earnings growth is expected to exceed the Germany market average.
  • First Pacific's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:FPC Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:FPC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 57%
DB:FPC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 1.4%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:FPC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:FPC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 8,164 1,093 347 1
2020-12-31 8,265 997 321 1
2019-12-31 7,854 615 292 1
2019-10-13
DB:FPC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 7,989 917 -150
2019-03-31 7,866 825 -9
2018-12-31 7,742 734 132
2018-09-30 7,656 807 127
2018-06-30 7,569 879 122
2018-03-31 7,433 828 121
2017-12-31 7,297 776 121
2017-09-30 7,106 864 114
2017-06-30 6,916 952 107
2017-03-31 6,847 842 102
2016-12-31 6,779 731 96
2016-09-30 6,661 530 71

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Pacific's earnings are expected to grow significantly at over 20% yearly.
  • First Pacific's revenue is expected to grow by 1.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:FPC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from First Pacific Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FPC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.08 0.08 0.08 1.00
2020-12-31 0.07 0.07 0.07 1.00
2019-12-31 0.07 0.07 0.07 1.00
2019-10-13
DB:FPC Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 -0.03
2019-03-31 0.00
2018-12-31 0.03
2018-09-30 0.03
2018-06-30 0.03
2018-03-31 0.03
2017-12-31 0.03
2017-09-30 0.03
2017-06-30 0.03
2017-03-31 0.02
2016-12-31 0.02
2016-09-30 0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • First Pacific is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess First Pacific's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Pacific has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has First Pacific performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Pacific's growth in the last year to its industry (Diversified Financial).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Pacific does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare First Pacific's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare First Pacific's 1-year growth to the Europe Diversified Financial industry average as it is not currently profitable.
Earnings and Revenue History
First Pacific's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Pacific Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FPC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 7,988.70 -150.30 1,235.00
2019-03-31 7,865.55 -9.25 1,203.45
2018-12-31 7,742.40 131.80 1,171.90
2018-09-30 7,655.80 126.70 1,167.75
2018-06-30 7,569.20 121.60 1,163.50
2018-03-31 7,433.00 121.25 1,157.95
2017-12-31 7,296.80 120.90 1,152.40
2017-09-30 7,106.15 114.00 1,138.70
2017-06-30 6,915.50 107.10 1,125.00
2017-03-31 6,847.25 101.50 1,110.05
2016-12-31 6,779.00 95.90 1,095.10
2016-09-30 6,661.35 71.05 1,056.45
2016-06-30 6,543.70 46.20 1,017.80
2016-03-31 6,490.35 57.95 1,012.20
2015-12-31 6,437.00 69.70 1,006.60
2015-09-30 6,607.65 51.45 1,044.35
2015-06-30 6,778.30 30.90 1,086.60
2015-03-31 6,809.80 42.85 1,080.95
2014-12-31 6,841.30 54.80 1,075.30
2014-06-30 6,274.30 236.80 1,003.89
2014-03-31 6,140.05 223.50 987.59
2013-12-31 6,005.80 210.20 971.28
2013-09-30 6,165.70 255.25 955.79
2013-06-30 6,125.10 275.20 922.09
2013-03-31 6,057.95 314.25 898.95
2012-12-31 5,990.80 353.30 875.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Pacific has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Pacific used its assets less efficiently than the DE Diversified Financial industry average last year based on Return on Assets.
  • It is difficult to establish if First Pacific improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess First Pacific's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Diversified Financial industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Pacific has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is First Pacific's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up First Pacific's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • First Pacific is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • First Pacific's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of First Pacific's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Pacific Company Filings, last reported 3 months ago.

DB:FPC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 9,000.80 8,834.10 1,857.20
2019-03-31 9,000.80 8,834.10 1,857.20
2018-12-31 8,710.40 8,718.50 1,920.40
2018-09-30 8,710.40 8,718.50 1,920.40
2018-06-30 8,442.90 7,985.70 1,934.90
2018-03-31 8,442.90 7,985.70 1,934.90
2017-12-31 8,742.50 7,969.70 2,217.40
2017-09-30 8,742.50 7,969.70 2,217.40
2017-06-30 8,642.40 7,891.00 2,202.60
2017-03-31 8,642.40 7,891.00 2,202.60
2016-12-31 8,034.30 6,108.40 1,731.80
2016-09-30 8,034.30 6,108.40 1,731.80
2016-06-30 8,393.90 6,836.70 1,787.40
2016-03-31 8,393.90 6,836.70 1,787.40
2015-12-31 7,334.40 6,361.90 1,737.10
2015-09-30 7,629.10 6,610.90 1,737.10
2015-06-30 7,890.30 6,861.80 1,812.50
2015-03-31 7,890.30 6,861.80 1,812.50
2014-12-31 7,717.00 5,805.90 2,325.10
2014-06-30 7,856.10 6,186.70 2,733.50
2014-03-31 7,856.10 6,186.70 2,733.50
2013-12-31 7,479.50 5,618.30 2,477.20
2013-09-30 7,518.20 5,618.30 2,477.20
2013-06-30 7,393.80 5,234.60 1,883.60
2013-03-31 7,393.80 5,234.60 1,883.60
2012-12-31 7,250.70 4,365.00 2,233.70
  • First Pacific's level of debt (98.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (78.7% vs 98.1% today).
  • Debt is not well covered by operating cash flow (10.4%, less than 20% of total debt).
  • First Pacific is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess First Pacific's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Pacific has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is First Pacific's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.89%
Current annual income from First Pacific dividends. Estimated to be 5.15% next year.
If you bought €2,000 of First Pacific shares you are expected to receive €98 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Pacific's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • First Pacific's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:FPC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:FPC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.02 1.00
2020-12-31 0.02 1.00
2019-12-31 0.02 1.00
2019-10-13
DB:FPC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-29 0.017 4.317
2018-06-05 0.017 3.985
2017-04-27 0.017 2.547
2016-04-28 0.017 2.432
2016-03-30 0.017 2.678
2015-06-03 0.027 3.880
2014-04-25 0.027 2.546
2014-03-25 0.027 2.588
2013-04-10 0.027 2.377
2013-03-19 0.027 1.992
2012-04-26 0.029 2.557
2012-03-20 0.029 2.504
2011-08-29 0.026 2.460
2011-03-21 0.023 2.559
2010-08-30 0.018 2.074
2010-03-23 0.015 2.252
2009-09-04 0.013 2.119
2009-04-28 0.012 2.055

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Pacific's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.1x coverage).
X
Income/ dividend checks
We assess First Pacific's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Pacific afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Pacific has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of First Pacific's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Manny Pangilinan
COMPENSATION $6,296,000
AGE 73
TENURE AS CEO 16.3 years
CEO Bio

Mr. Manuel Velez Pangilinan, also known as Manny, founded First Pacific Company Limited in 1981 and has been its Managing Director and Chief Executive Officer since June 3, 2003. Mr. Pangilinan served as the Chief Executive Officer of PXP Energy Corporation (a/k/a, Philex Petroleum Corporation) since December 8, 2009. He has been Chief Executive Officer and President of Philippine Long Distance Telephone Company (PLDT) and Smart Communications, Inc. since January 1, 2016. He served as the Chief Executive Officer and President of Smart Communications, Inc. since December 31, 2015. He served as the Chief Executive Officer and President of Manila Electric Co. (a/k/a Meralco) of Metro Pacific Investments Corp. from July 1, 2010 to May 28, 2012. Mr. Pangilinan served as the Chief Executive Officer of Philex Mining Corp. from December 2009 to April 2013. He served as Managing Director at First Pacific Company Limited until 1999 and Executive Chairman from February 1999 to June 2003. Mr. Pangilinan served as the Chief Executive Officer and President at Philippine Long Distance Telephone Company from November 1998 to February 19, 2004. He served as the Chief Executive Officer and President of Metro Pacific Investments Corporation from December 2001 to May 2003. He served as the President of Fort Bonifacio Development Corporation. He also worked in the Philippines and Hong Kong for PHINMA Group, Bancom International Limited and American Express Bank. He served as a Governor of Philippine Stock Exchange. He has been the Chairman of Digital Telecommunications Phils Inc., since October 26, 2011; PXP Energy Corporation (a/k/a, Philex Petroleum Corporation) since December 8, 2009; Metro Pacific Resources Inc., since November 12, 2008; Philippine Long Distance Telephone Company since February 19, 2004; Metro Pacific Tollways Corp., since November 12, 2008 and Manila Electric Co. since May 29, 2012. He serves as the Chairman of Beacon Electric Assets Holdings Inc, Manila North Tollways Corporation, Colinas Verdes Corporation, SPi Global Holdings, Inc., and Metro Pacific Tollways Development Corporation. He has been the Chairman and Director of Metro Pacific Investments Corporation since March 2006. He has been the Chairman of Maynilad Water Services, Inc. since January 1, 2007. He serves as the Chairman of Mabuhay Satellite, Infocom and Landco Pacific Corporation. He serves as the Chairman of Medical Doctors Inc. He serves as the Chairman of The Board at Riverside Medical Center Inc and Davao Doctors Incorporated. He serves as the Chairman of IdeaSpace Foundation, Inc. He serves as the Chairman of Smart Communications, Inc. Mr. Pangilinan has been the President Commissioner of PT Indofood Sukses Makmur Tbk since 1999. He has been the Chairman of Philex Mining Corp. since June 2009. He served as the Chairman of the Board at ePLDT Inc., since February 19, 2004. He served as the Chairman of Fort Bonifacio Development Corporation and SPi CRM, Inc. He served as the Chairman and Director of PLDT Communications and Energy Ventures, Inc. since November 3, 2004 to June 28, 2011. In August 2016, the Samahang Basketbol ng Pilipinas (SBP) – the National Sport Association for basketball requested Mr. Pangilinan to be its Chairman Emeritus after serving as President since February 2007. Effective January 2009, he assumed the Chairman of the Amateur Boxing Association of the Philippines (ABAP), a governing body of amateur boxers in the country. In October 2009, Mr. Pangilinan serves as the Chairman of the Philippine Disaster Resiliency Foundation, Incorporated (PDRF), a nonprofit foundation established to formulate and implement a reconstruction strategy to rehabilitate areas devastated by floods and other calamities. In June 2012, he was appointed as Co-Chairman of the US-Philippines Business Society (USPS), a non-profit society which seeks to broaden the relationship between the United States and the Philippines in the areas of trade, investment, education, foreign and security policies and culture. He is the Chairman of the Board of Trustees of the San Beda College. He serves as a Director at Lady of Lourdes Hospital and Porrovia Corporation. He has been a Vice Chairman of Roxas Holdings, Inc. since December 11, 2013. He has been Non Executive Director of Philippine Long Distance Telephone Company since November 24, 1998, Manila Electric Co. since May 26, 2009. He serves as Director at Cardinal Santos Medical Center, Cardinal Medical Charities Foundation, Inc., Caritas Manila and Radio Veritas-Global Broadcasting Systems, Inc., Central Luzon Doctor’s Hospital, De Los Santos Medical Center, Digital Telecommunications Phils., Digitel Mobile Philippines, Inc., East Manila Hospital Managers Corporation, Ideaspace Foundation, Inc., Light Rail Manila Holdings, Inc., Light Rail Manila Corporation, Metro Pacific Light Rail Corporation, Metro Pacific Investments Foundation, Inc. He serves as a Director at Mediaquest, Inc., Associated Broadcasting, Corporation (TV5), Manila North Tollways Corporation, Makati Medical Center, Megaclinic, Inc., Meralco Powergen Corporation, Metro Pacific Hospital Holdings, Inc, Metro Pacific Zamboanga Hospital Corporation, MetroPac Movers, Inc., MetroPac Logistics Company Inc., MetroPac Water Investments Corporation. Colinas Verdes Hospital Managers Corporation, Davao Doctors Inc, Beacon Electric Asset Holdings, Inc., First Pacific Company Ltd., Asian Hospital, Inc., Philippine Telecommunications Investment Corporation, Maynilad Water Services Inc., Metro Asia Link Holdings, Inc., Enterprise Investments Holdings Inc. and several property development and management companies. He has been an Independent Director at Victorias Milling Company, Inc since February 3, 2015. He has been a Director of Metro Pacific Tollways Corp. since November 12, 2008. He has been a Non Executive Director of Roxas. Holdings Inc. since December 3, 2013. He serves as a Commissioner of PT Indofood Sukses Makmur Tbk. He has been a Non-Executive Director of Philex Mining Corp. since November 28, 2008. He served as a Director of Negros Navigation Co. Inc., and SPi CRM, Inc. since November 24, 1998. Mr. Pangilinan is the Chairman of Philippine Business for Social Progress and Ateneo de Manila University. He serves as the Chairman of the Hong Kong Bayanihan Foundation. He serves a Vice Chairman of the Foundation for Crime Prevention. He serves on the Board of Overseers of the Wharton School. He is widely recognized for his outstanding career that spans business, academe, charitable, non-government, arts and culture, sports and health organizations. Mr. Pangilinan received numerous prestigious awards including the Ten Outstanding Young Men of the Philippines (TOYM) Award for International Finance in 1983, the Presidential Pamana ng Pilipino Award by the Office of the President of the Philippines in 1996, Best Chief Executive Officer in the Philippines by Institutional Investor in 2004, Chief Executive Of

CEO Compensation
  • Manny's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Insufficient data for Manny to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the First Pacific management team in years:

6.5
Average Tenure
62
Average Age
  • The average tenure for the First Pacific management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Manny Pangilinan

TITLE
CEO, MD & Executive Director
COMPENSATION
$6M
AGE
73
TENURE
16.3 yrs

Christopher Huxley Young

TITLE
CFO & Executive Director
COMPENSATION
$2M
AGE
62
TENURE
4.3 yrs

Sara Cheung

TITLE
Vice President of Group Corporate Communications
AGE
55

Stanley H. Yang

TITLE
Executive Vice President of Group Corporate Development
AGE
42

Maisie Lam

TITLE
Executive Vice President of Group Human Resources
AGE
64

Marilyn Victorio-Aquino

TITLE
Associate Director & Chief Risk Officer
AGE
63
TENURE
7.3 yrs

Nancy Li

TITLE
VP & Company Secretary
AGE
62
TENURE
16.4 yrs

Richard Chan

TITLE
Executive VP & Group Financial Controller
AGE
49
TENURE
5.8 yrs

Peter Lin

TITLE
Executive Vice President of Group Treasury & Tax
AGE
49
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the First Pacific board of directors in years:

6.8
Average Tenure
67
Average Age
  • The tenure for the First Pacific board of directors is about average.
Board of Directors

Anthoni Salim

TITLE
Chairman
COMPENSATION
$3M
AGE
70
TENURE
16.3 yrs

Manny Pangilinan

TITLE
CEO, MD & Executive Director
COMPENSATION
$6M
AGE
73

Christopher Huxley Young

TITLE
CFO & Executive Director
COMPENSATION
$2M
AGE
62
TENURE
2.2 yrs

Edward Chen

TITLE
Independent Non-Executive Director
COMPENSATION
$336K
AGE
74
TENURE
26.8 yrs

Margaret Leung Ko

TITLE
Independent Non-Executive Director
COMPENSATION
$361K
AGE
67
TENURE
6.8 yrs

Philip Fan

TITLE
Independent Non-Executive Director
COMPENSATION
$371K
AGE
70
TENURE
6.8 yrs

Madeleine Lee

TITLE
Independent Non Executive Director
COMPENSATION
$314K
AGE
57
TENURE
4.1 yrs

Tedy Djuhar

TITLE
Non-Executive Director
COMPENSATION
$36K
AGE
67
TENURE
38.8 yrs

Benny Santoso

TITLE
Non-Executive Director
COMPENSATION
$322K
AGE
61
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
23. Aug 19 Sell Brandes Investment Partners, L.P. Company 21. Aug 19 21. Aug 19 -450,580 €0.35 €-158,409
19. Jan 19 Buy Brandes Investment Partners, L.P. Company 17. Jan 19 17. Jan 19 2,850,396 €0.39 €1,123,542
19. Dec 18 Sell Brandes Investment Partners, L.P. Company 17. Dec 18 17. Dec 18 -4,272,017 €0.35 €-1,475,008
01. Dec 18 Buy Brandes Investment Partners, L.P. Company 29. Nov 18 29. Nov 18 6,092,716 €0.33 €1,998,645
X
Management checks
We assess First Pacific's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Pacific has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

First Pacific Company Limited, an investment management and holding company, engages in the consumer food products, telecommunications, infrastructure, and natural resources businesses in the Philippines, Indonesia, Australasia, Singapore, and internationally. The company offers a range of telecommunications and digital services, including fiber optic backbone, fixed broadband, and mobile networks. It also manufactures and distributes a range of food products, including noodles, dairy, snack foods, food seasonings, nutrition and special foods, beverages, wheat flour, and pasta; breeds seeds; cultivates oil palm, rubber, sugar cane, and other crops; and offers cooking oils, margarines, and shortenings. In addition, the company offers bread, dressings and mayonnaise, milk, cheese, chicken, flour, spreads, baking ingredients, ice cream, rice, and snacks; explores for, mines, and produces gold, copper, and silver; and produces sugar and ethanol. Further, it is involved in the operation of gas-fired power plant; electricity generation and distribution; provision of water distribution and sewerage services; and operation of toll roads, hospitals, and rail lines, as well as offers logistics services. First Pacific Company Limited was founded in 1981 and is headquartered in Central, Hong Kong.

Details
Name: First Pacific Company Limited
FPC
Exchange: DB
Founded: 1981
HK$1,398,244,485
4,343,775,426
Website: http://www.firstpacific.com
Address: First Pacific Company Limited
Two Exchange Square,
24th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 142 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK FPAF.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB FPC Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
SHSC 142 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 02. Jan 1992
SZSC 142 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
OTCPK FPAF.Y SPON ADR REP 5 ORD SHS NPV Pink Sheets LLC US USD 27. Jul 1995
Number of employees
Current staff
Staff numbers
110,612
First Pacific employees.
Industry
Multi-Sector Holdings
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 21:38
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/08/27
Last earnings filing: 2019/09/19
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.