PLDT INC.

Income Statement
2020 2019
31-Dec 31-Dec
Total Revenue 181,004.00 169,187.00
Revenue 181,004.00 169,187.00
Other Revenue, Total - -
Cost of Revenue, Total 14,440.00 17,067.00
Gross Profit 166,564.00 152,120.00
Total Operating Expenses 141,257.00 128,648.00
Selling/General/Admin. Expenses, Total 75,751.00 70,789.00
Research & Development - -
Depreciation / Amortization 49,976.00 40,414.00
Interest Expense (Income) - Net Operating - -
Unusual Expense (Income) - -
Other Operating Expenses, Total 1,090.00 378.00
Operating Income 39,747.00 40,539.00
Interest Income (Expense), Net Non-Operating - 10,015.00 - 8,108.00
Gain (Loss) on Sale of Assets 3,369.00 -
Other, Net - 80.00 - 95.00
Net Income Before Taxes 33,021.00 32,336.00
Provision for Income Taxes 8,441.00 9,550.00
Net Income After Taxes 24,580.00 22,786.00
Minority Interest - 296.00 - 265.00
Equity In Affiliates - -
U.S GAAP Adjustment - -
Net Income Before Extraordinary Items 24,284.00 22,521.00
Total Extraordinary Items - -
Net Income 24,284.00 22,521.00
Total Adjustments to Net Income - 59.00 - 59.00
Income Available to Common Excluding Extraordinary I 24,225.00 22,462.00
Dilution Adjustment - -
Diluted Net Income 24,225.00 22,462.00
Diluted Weighted Average Shares 216.06 216.06
Diluted EPS Excluding Extraordinary Items 112.12 103.96
DPS - Common Stock Primary Issue 78.00 75.00
Diluted Normalized EPS 100.52 103.96
 Horizontal Analysis
2018 2018 2019 2020
31-Dec Percent Amount Percent Amount Percent
164,752.00 100% 4,435.00 2.69% 11,817.00 6.98%
164,752.00 100% 4,435.00 2.69% 11,817.00 6.98%
- - - - -
21,758.00 100% - 4,691.00 -21.56% - 2,627.00 -15.39%
142,994.00 100% 9,126.00 6.38% 14,444.00 9.50%
137,041.00 100% - 8,393.00 -6.12% 12,609.00 9.80%
76,301.00 100% - 5,512.00 -7.22% 4,962.00 7.01%
- - - - -
48,132.00 100% - 7,718.00 -16.04% 9,562.00 23.66%
- - - - -
- 10,096.00 100% 10,096.00 -100.00% - -
946.00 100% - 568.00 -60.04% 712.00 188.36%
27,711.00 100% - - - -
- 4,757.00 100% - 3,351.00 70.44% - 1,907.00 23.52%
- 3,369.00 0.00%
- 139.00 100% 44.00 -31.65% 15.00 -15.79%
22,815.00 100% 9,521.00 41.73% 685.00 2.12%
3,842.00 100% - - - -
18,973.00 100% 3,813.00 20.10% 1,794.00 7.87%
- 57.00 100% - 208.00 364.91% - 31.00 11.70%
- - - - -
- - - - -
18,916.00 100% 3,605.00 19.06% 1,763.00 7.83%
- - - - -
18,916.00 100% 3,605.00 19.06% 1,763.00 7.83%
- 59.00 100% - 0.00% - 0.00%
18,857.00 100% 3,605.00 19.12% 1,763.00 7.85%
- - - - -
18,857.00 100% 3,605.00 19.12% 1,763.00 7.85%
216.06 100% - 0.00% - 0.00%
87.28 100% 16.68 19.11% 8.16 7.85%
72.00 100% 3.00 4.17% 3.00 4.00%
48.42 100% - - - -
Globe Income Statement
2020
31-Dec
Total Revenue 160,519.54
Revenue 160,519.54
Other Revenue, Total -
Cost of Revenue, Total 17,698.22
Gross Profit 142,821.32
Total Operating Expenses 126,282.75
Selling/General/Admin. Expenses, Total 70,481.17
Research & Development -
Depreciation / Amortization 35,406.48
Interest Expense (Income) - Net Operating 5.55
Unusual Expense (Income) 3,849.67
Other Operating Expenses, Total - 1,158.35
Operating Income 34,236.79
Interest Income (Expense), Net Non-Operating - 6,072.00
Gain (Loss) on Sale of Assets 33.24
Other, Net - 1,058.38
Net Income Before Taxes 27,139.66
Provision for Income Taxes 8,516.62
Net Income After Taxes 18,623.04
Minority Interest - 44.72
Equity In Affiliates -
U.S GAAP Adjustment -
Net Income Before Extraordinary Items 18,578.32
Total Extraordinary Items -
Net Income 18,578.32
Total Adjustments to Net Income - 570.09
Income Available to Common Excluding Extraordinary Items 18,008.24
Dilution Adjustment -
Diluted Net Income 18,008.24
Diluted Weighted Average Shares 134.36
Diluted EPS Excluding Extraordinary Items 134.03
DPS - Common Stock Primary Issue 107.99
Diluted Normalized EPS 153.52
 Horizontal Analysis
2019 2018 2018 2019
31-Dec 31-Dec Percent Amount Percent
166,660.34 151,172.81 100% 15,487.53 10.24%
166,660.34 151,172.81 100% 15,487.53 10.24%
- - - -
23,251.40 24,700.46 100% - 1,449.06 -5.87%
143,408.93 126,472.34 100% 16,936.59 13.39%
125,057.62 116,682.52 100% 8,375.10 7.18%
67,811.57 60,714.48 100% 7,097.09 11.69%
- - - -
34,137.94 30,411.70 100% 3,726.24 12.25%
5.60 10.02 100% - 4.42 -44.11%
548.02 778.55 100% - 230.53 -29.61%
- 696.91 67.31 100% - 764.22 -1135.37%
41,602.72 34,490.29 100% 7,112.43 20.62%
- 8,225.36 - 6,730.00 100% - 1,495.36 22.22%
43.01 73.09 100% - 30.08 -41.15%
- 593.00 - 220.06 100% - 372.94 169.47%
32,827.38 27,613.32 100% 5,214.06 18.88%
10,543.62 8,987.37 100% 1,556.25 17.32%
22,283.76 18,625.94 100% 3,657.82 19.64%
- 14.42 14.80 100% - 29.22 -197.43%
- - - -
- - - -
22,269.34 18,640.74 100% 3,628.60 19.47%
- - - -
22,269.34 18,640.74 100% 3,628.60 19.47%
- 570.09 - 561.81 100% - 8.28 1.47%
21,699.25 18,078.93 100% 3,620.32 20.03%
- 41.75 100% - -
21,699.25 18,120.68 100% 3,578.57 19.75%
134.09 133.84 100% 0.25 0.19%
161.83 135.40 100% 26.43 19.52%
91.00 91.00 100% - 0.00%
164.39 138.95 100% 25.44 18.31%
rizontal Analysis
2020
Amount Percent
- 6,140.80 -3.68%
- 6,140.80 -3.68%
- -
- 5,553.18 -23.88%
- 587.61 -0.41%
1,225.13 0.98%
2,669.60 3.94%
- -
1,268.54 3.72%
- 0.05 -0.89%
3,301.65 602.47%
- 461.44 66.21%
- 7,365.93 -17.71%
2,153.36 -26.18%
- 9.77 -22.72%
- 465.38 78.48%
- 5,687.72 -17.33%
- 2,027.00 -19.22%
- 3,660.72 -16.43%
- 30.30 210.12%
- -
- -
- 3,691.02 -16.57%
- -
- 3,691.02 -16.57%
- 0.00%
- 3,691.01 -17.01%
- -
- 3,691.01 -17.01%
0.27 0.20%
- 27.80 -17.18%
16.99 18.67%
- 10.87 -6.61%
PLDT Financial Position

2020 2019
31-Dec 31-Dec
ASSETS
Current Assets
Cash and Short Term Investments 48,566.00 35,676.00
Cash 9,526.00 6,706.00
Cash & Equivalents - -
Short Term Investments 39,040.00 28,970.00
Total Receivables, Net 23,852.00 24,433.00
Accounts Receivables - Trade, Net 23,852.00 24,433.00
Total Inventory 4,085.00 3,412.00
Prepaid Expenses 10,657.00 11,298.00
Other Current Assets, Total 278.00 758.00
Total Current Assets 87,438.00 75,577.00
Non-Current Assets
Property/Plant/Equipment, Total - Net 279,171.00 248,024.00
Property/Plant/Equipment, Total - Gros 715,791.00 731,850.00
Accumulated Depreciation, Total - 436,620.00 - 483,826.00
Goodwill, Net 61,379.00 61,379.00
Intangibles, Net 3,950.00 6,446.00
Long Term Investments 57,466.00 60,158.00
Note Receivable - Long Term 668.00 750.00
Other Long Term Assets, Total 85,774.00 72,693.00
Other Assets, Total - -
Total Assets 575,846.00 525,027.00

LIABILITIES AND EQUITY

Current Liabilities
Accounts Payable 82,413.00 77,845.00
Payable/Accrued - -
Accrued Expenses 88,811.00 82,577.00
Notes Payable/Short Term Debt - -
Current Port. of LT Debt/Capital Lease 21,613.00 22,937.00
Other Current liabilities, Total 20,700.00 21,089.00
Total Current Liabilities 213,537.00 204,448.00
Total Long Term Debt 221,177.00 185,934.00
Long Term Debt 205,195.00 172,834.00
Capital Lease Obligations 15,982.00 13,100.00
Deferred Income Tax 726.00 2,583.00
Minority Interest 4,257.00 4,303.00
Other Liabilities, Total 20,741.00 15,772.00
Total Liabilities 460,438.00 413,040.00
Equity
Redeemable Preferred Stock, Total - -
Preferred Stock - Non Redeemable, Net 510.00 510.00
Common Stock, Total 1,093.00 1,093.00
Additional Paid-In Capital 130,312.00 130,312.00
Retained Earnings (Accumulated Defici 25,652.00 18,063.00
Treasury Stock - Common - 6,526.00 - 6,899.00
ESOP Debt Guarantee - -
Unrealized Gain (Loss) - -
Other Equity, Total - 35,633.00 - 31,092.00
Total Equity 115,408.00 111,987.00
Total Liabilities & Shareholders' Equity 575,846.00 525,027.00
 Horizontal Analysis
2018 2018 2019 2020
31-Dec Pecent Amount Percent Amount Percent

ASSETS
61,431.00 100% - 25,755.00 -41.93% 12,890.00 36.13%
5,982.00 100% 724.00 12.10% 2,820.00 42.05%
- - - - - -
55,449.00 - 26,479.00 -47.75% 10,070.00 34.76%
26,861.00 100% - 2,428.00 -9.04% - 581.00 -2.38%
26,241.00 100% - 1,808.00 -6.89% - 581.00 -2.38%
2,878.00 100% 534.00 18.55% 673.00 19.72%
7,760.00 100% 3,538.00 45.59% - 641.00 -5.67%
644.00 100% 114.00 17.70% - 480.00 -63.32%
99,574.00 100% - 23,997.00 -24.10% 11,861.00 15.69%

195,964.00 100% 52,060.00 26.57% 31,147.00 12.56%

714,037.00 100% 17,813.00 2.49% - 16,059.00 -2.19%
- 518,073.00 100% 34,247.00 -6.61% 47,206.00 -9.76%
61,379.00 100% - 0.00% - 0.00%
7,204.00 100% - 758.00 -10.52% - 2,496.00 -38.72%
66,141.00 100% - 5,983.00 -9.05% - 2,692.00 -4.47%
1,083.00 100% - 333.00 -30.75% - 82.00 -10.93%
51,405.00 100% 21,288.00 41.41% 13,081.00 17.99%
- - - - -
482,750.00 100% 42,277.00 8.76% 50,819.00 9.68%

Liabilities and Equity

74,610.00 100% 3,235.00 4.34% 4,568.00 5.87%

- - - - -
78,960.00 100% 3,617.00 4.58% 6,234.00 7.55%
- - - - -
20,441.00 100% 2,496.00 12.21% - 1,324.00 -5.77%
18,597.00 100% 2,492.00 13.40% - 389.00 -1.84%
192,608.00 100% 11,840.00 6.15% 9,089.00 4.45%
155,835.00 100% 30,099.00 19.31% 35,243.00 18.95%
155,835.00 100% 16,999.00 10.91% 32,361.00 18.72%
- - - 2,882.00 22.00%
2,981.00 100% - 398.00 -13.35% - 1,857.00 -71.89%
4,308.00 - - - -
14,660.00 100% 1,112.00 7.59% 4,969.00 31.51%
 370,392.00 100% 42,648.00 11.51% 47,398.00 11.48%

-
510.00 100% - 0.00% - 0.00%
1,093.00 100% - 0.00% - 0.00%
130,526.00 100% - 214.00 -0.16% - 0.00%
12,081.00 100% 5,982.00 49.52% 7,589.00 42.01%
- 7,359.00 100% 460.00 -6.25% 373.00 -5.41%
- - - - -
- - - - -
- 24,493.00 100% - 6,599.00 26.94% - 4,541.00 14.61%
112,358.00 100% - 371.00 -0.33% 3,421.00 3.05%
482,750.00 100% 42,277.00 8.76% 50,819.00 9.68%
GLOBE Financial Position
2020 2019
31-Dec 31-Dec
Assets
Current Assets
Cash and Short Term Investments 19,508.11 8,298.09
Cash 8,040.66 3,728.29
Cash & Equivalents - -
Short Term Investments 11,467.45 4,569.80
Total Receivables, Net 27,101.64 33,467.14
Accounts Receivables - Trade, Net 27,101.64 29,478.17
Total Inventory 5,988.90 4,713.57
Prepaid Expenses 11,497.19 13,190.53
Other Current Assets, Total 2.01 2,070.14
Total Current Assets 64,097.85 61,739.47
Non-Current Assets
Property/Plant/Equipment, Total - Net 194,593.23 186,228.81
Property/Plant/Equipment, Total - Gross 482,556.01 443,892.84
Accumulated Depreciation, Total - 287,962.78 - 257,664.04
Goodwill, Net 3,150.68 2,899.32
Intangibles, Net 13,902.23 12,653.78
Long Term Investments 38,247.73 36,611.65
Note Receivable - Long Term 478.00 194.35
Other Long Term Assets, Total 25,310.10 3,963.36
Total Non-Current Assets 275,681.97 242,551.27
Total Assets 339,779.82 304,290.74

Liabilities and Owner's Equity

Current Liabilities
Accounts Payable 12,738.17 7,740.15
Payable/Accrued - - 725.25
Accrued Expenses 33,805.28 38,036.26
Notes Payable/Short Term Debt - -
Current Port. of LT Debt/Capital Leases 9,520.62 13,901.72
Other Current liabilities, Total 24,210.96 24,899.05
Total Current Liabilities 80,275.03 84,577.18
Non-Current Liabilities
Total Long Term Debt 159,796.20 125,624.64
Long Term Debt 156,270.73 122,942.84
Capital Lease Obligations 3,525.47 2,681.80
Deferred Income Tax 5,056.34 5,057.64
Minority Interest 237.41 134.58
Other Liabilities, Total 11,847.79 7,784.28
Total Non-current Liabilities 176,937.74 138,601.14
Total Liabilities 257,212.77 223,178.32

Equity
Redeemable Preferred Stock, Total - -
Preferred Stock - Non Redeemable, Net 1,792.58 1,792.58
Common Stock, Total 6,671.64 6,660.42
Additional Paid-In Capital 37,001.63 36,808.78
Retained Earnings (Accumulated Deficit) 41,320.82 37,617.26
Treasury Stock - Common - -
ESOP Debt Guarantee - -
Unrealized Gain (Loss) 753.67 660.31
Other Equity, Total - 4,973.26 - 2,426.92
Total Equity 82,567.08 81,112.43
Total Liabilities & Shareholders' Equity 339,779.84 304,290.74
Total Common Shares Outstanding 133.43 133.21
Total Preferred Shares Outstanding 178.51 178.51
 Horizontal Analysis
2018 2018 2019 2020
31-Dec Percent Amount Percent Amount

ASSETS
23,226.39 100% - 14,928.30 -64.27% 11,210.02
2,018.91 100% 1,709.38 84.67% 4,312.37
- - - -
21,207.48 100% - 16,637.68 -78.45% 6,897.65
32,316.04 100% 1,151.10 3.56% - 6,365.50
29,584.11 100% - 105.94 -0.36% - 2,376.53
4,854.94 100% - 141.37 -2.91% 1,275.33
11,668.54 100% 1,521.99 13.04% - 1,693.34
1,457.47 100% 612.67 42.04% - 2,068.13
73,523.38 100% - 11,783.91 -16.03% 2,358.38

169,393.77 100% 16,835.04 9.94% 8,364.42

400,796.69 100% 43,096.15 10.75% 38,663.17
- 231,402.92 100% - 26,261.12 11.35% - 30,298.74
1,140.25 100% 1,759.07 154.27% 251.36
12,558.02 100% 95.76 0.76% 1,248.45
35,869.72 100% 741.93 2.07% 1,636.08
1,289.84 100% - 1,095.49 -84.93% 283.65
5,723.14 100% - 1,759.78 -30.75% 21,346.74
225,974.74 100% 16,576.53 7.34% 33,130.70
299,498.12 100% 4,792.62 1.60% 35,489.08

Liabilities and Owner's Equity

5,595.93 100% 2,144.22 38.32% 4,998.02

- - - -
41,543.34 100% - 3,507.08 -8.44% - 4,230.98
- - - -
16,758.20 100% - 2,856.48 -17.05% - 4,381.10
21,568.19 100% 3,330.86 15.44% - 688.09
85,465.66 100% - 888.48 -1.04% - 4,302.15
- #DIV/0! -
131,523.70 100% - 5,899.06 -4.49% 34,171.56
131,523.70 100% - 8,580.86 -6.52% 33,327.89
- - - 843.67
3,918.49 100% 1,139.15 29.07% - 1.30
 24.17 100% 110.41 456.81% 102.83
5,446.75 100% 2,337.53 42.92% 4,063.51
140,913.11 100% - 2,311.97 -1.64% 38,336.60
226,378.77 100% - 3,200.45 -1.41% 34,034.45

- - - -
1,792.58 - 0.00% -
6,652.66 100% 7.76 0.12% 11.22
36,528.25 100% 280.53 0.77% 192.85
27,584.74 100% 10,032.52 36.37% 3,703.56
- - - -
- - - -
293.85 100% 366.46 124.71% 93.36
267.25 100% - 2,694.17 -1008.11% - 2,546.34
73,119.33 100% 7,993.10 10.93% 1,454.65
299,498.11 100% 4,792.63 1.60% 35,489.10
133.05 100% 0.16 0.12% 0.22
178.51 100% - 0.00% -
2020
Percent

135.09%
115.67%
-
150.94%
-19.02%
-8.06%
27.06%
-12.84%
-99.90%
3.82%

4.49%
8.71%
11.76%
8.67%
9.87%
4.47%
145.95%
538.60%
13.66%
11.66%

64.57%
-
-11.12%
-
-31.51%
-2.76%
-5.09%
#DIV/0!
27.20%
27.11%
31.46%
-0.03%
76.41%
52.20%
27.66%
15.25%

-
0.00%
0.17%
0.52%
9.85%
-
-
14.14%
104.92%
1.79%
11.66%
0.17%
0.00%
Summary and Findings for Horizontal Analysis: Dugang sa overall po hehe

The Horizontal analysis for Income Statement that we made on PLDT shows how the percentage
and level of gross profit are increasing throughout its three-year operation. It is visible how they
are doing good in maintaining and continuing to improve its operation and monitoring of sales and
costs. Every year, their sales are getting higher while their costs are getting lower. However, their
expenses are high which causes its net income to decrease during the course of three years. The
high-interest income is one of the main contributors to its expenses which is probably from its
borrowings as well as seling, general and administrative expenses.
In comparison with Globe as its external competitor, PLDT is doing much better. Globe in with its
three-year internal operations, has a decreasing trend of sales. Eventhough it has lower cost. Their
expenses is also getting higher every year which is one of the main reason of its declining trend.
PLDT and Globe is almost similar in terms of Net Income, however during its 2020 operation, Globe
got a negative 16.57%(decrease in net income thourghout the years) while PLDT got a 7.83%
(increase in net income thourgh out the years).

In terms of financial position of PLDT, they acquire a 9.68% increase in Assets and liabilities plus
equity which is the reason why the company has increasing income during the year since they have
lesser capital expenditures and decreasing amount of receivables. Globe on the other hand has a
great amount of Capital expenditures and acquisition of long-term assets which is the cause why
they have declining income during these years. They can improve their subsequent years of
operation if they lessen these expenditures and work with their already available and able
resources.

PLDT is doing well during the last three years because they have a lesser capital expenditures,
increasing sales and lower costs. They are also doing well in managing and collecting Accounts
Receivable. The only disadvantage it has is that is has so much borrowing which is abnormally
pulling all its profit lower with interests. But, They have a great operational strategy in which they
can maintain the increase of their Profit and returns in comparison with Globe which is one of its
main competitor.
 w the percentage Conclusion for my Horizontal Analysis: (idugang dugang lang ni siguro guys.
s visible how they
nitoring of sales and PLDT is doing well in comparison with Globe as one of its competitors using
er. However, their Horizontal Analysis. They have a great operation and cost allocation strategy
f three years. The that it can maintain its gross income increasing. However they need to lessen
obably from its their expenses to have a higher return or profit. They should try financing their
operation with lesser coming from borrowings. They have a lot of capital
expenditures however as years go by they will just regain the expenses back by
r. Globe in with its using it in its operations.
as lower cost. Their
s declining trend.
020 operation, Globe
T got a 7.83%

nd liabilities plus
year since they have
e other hand has a
h is the cause why
uent years of
ble and able

l expenditures,
ecting Accounts
h is abnormally
ategy in which they
which is one of its
g ni siguro guys.

mpetitors using
ocation strategy
ey need to lessen
try financing their
ot of capital
e expenses back by