Income and Expenses (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Analysis of income and expense [abstract] |
|
| Summary of Revenues from Contracts with Customers |
Set out is the disaggregation of PLDT Group’s revenues from contracts with customers for the years ended
December 31, 2025, 2024 and 2023:
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Revenue Streams |
|
Wireless |
|
|
Fixed Line |
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|
Inter-
segment
Transactions |
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Consolidated |
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|
(in million pesos) |
|
December 31, 2025 |
|
|
|
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|
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|
Type of goods or services |
|
|
|
|
|
|
|
|
|
|
|
|
Service revenue |
|
|
97,568 |
|
|
|
130,355 |
|
|
|
(15,737 |
) |
|
|
212,186 |
|
Non-service revenue |
|
|
5,748 |
|
|
|
455 |
|
|
|
(1 |
) |
|
|
6,202 |
|
Total revenues from contracts with customers |
|
|
103,316 |
|
|
|
130,810 |
|
|
|
(15,738 |
) |
|
|
218,388 |
|
|
|
|
|
|
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|
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|
|
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Timing of revenue recognition |
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|
|
|
|
|
|
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|
Transferred over time |
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|
97,568 |
|
|
|
130,355 |
|
|
|
(15,737 |
) |
|
|
212,186 |
|
Transferred at a point time |
|
|
5,748 |
|
|
|
455 |
|
|
|
(1 |
) |
|
|
6,202 |
|
Total revenues from contracts with customers |
|
|
103,316 |
|
|
|
130,810 |
|
|
|
(15,738 |
) |
|
|
218,388 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
Type of goods or services |
|
|
|
|
|
|
|
|
|
|
|
|
Service revenue |
|
|
97,779 |
|
|
|
125,994 |
|
|
|
(15,391 |
) |
|
|
208,382 |
|
Non-service revenue |
|
|
7,955 |
|
|
|
496 |
|
|
|
— |
|
|
|
8,451 |
|
Total revenues from contracts with customers |
|
|
105,734 |
|
|
|
126,490 |
|
|
|
(15,391 |
) |
|
|
216,833 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
|
|
|
|
|
|
|
|
Transferred over time |
|
|
97,779 |
|
|
|
125,994 |
|
|
|
(15,391 |
) |
|
|
208,382 |
|
Transferred at a point time |
|
|
7,955 |
|
|
|
496 |
|
|
|
— |
|
|
|
8,451 |
|
Total revenues from contracts with customers |
|
|
105,734 |
|
|
|
126,490 |
|
|
|
(15,391 |
) |
|
|
216,833 |
|
|
|
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|
|
|
|
|
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|
December 31, 2023 |
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Type of good or service |
|
|
|
|
|
|
|
|
|
|
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Service revenue |
|
|
95,677 |
|
|
|
120,336 |
|
|
|
(14,181 |
) |
|
|
201,832 |
|
Non-service revenue |
|
|
8,724 |
|
|
|
398 |
|
|
|
(1 |
) |
|
|
9,121 |
|
Total revenues from contracts with customers |
|
|
104,401 |
|
|
|
120,734 |
|
|
|
(14,182 |
) |
|
|
210,953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
|
|
|
|
|
|
|
|
Transferred over time |
|
|
95,677 |
|
|
|
120,336 |
|
|
|
(14,181 |
) |
|
|
201,832 |
|
Transferred at a point time |
|
|
8,724 |
|
|
|
398 |
|
|
|
(1 |
) |
|
|
9,121 |
|
Total revenues from contracts with customers |
|
|
104,401 |
|
|
|
120,734 |
|
|
|
(14,182 |
) |
|
|
210,953 |
|
|
| Summary of Contract Balances |
Contract balances as at December 31, 2025 and 2024 consists of the following:
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|
2025 |
|
|
2024 |
|
|
|
(in million pesos) |
|
Trade and other receivables (Note 16) |
|
|
50,264 |
|
|
|
48,808 |
|
Contract assets |
|
|
1,529 |
|
|
|
1,953 |
|
Contract liabilities and unearned revenues (Notes 21 and 23) |
|
|
14,329 |
|
|
|
16,067 |
|
|
| Summary of Movement in Allowance for Expected Credit Losses of Contracts Assets |
Set out below is the movement in the allowance for expected credit losses of contracts assets as at December 31, 2025 and 2024.
|
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|
2025 |
|
|
2024 |
|
|
|
(in million pesos) |
|
Balances at beginning of the year |
|
|
67 |
|
|
|
42 |
|
Reversals and reclassification |
|
|
(25 |
) |
|
|
25 |
|
Balances at end of the year |
|
|
42 |
|
|
|
67 |
|
|
| Summary of Changes in Contract Liabilities and Unearned Revenues Accounts |
Changes in the contract liabilities and unearned revenues accounts for the years ended December 31, 2025 and 2024 are as follows:
|
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|
|
|
|
|
|
|
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|
2025 |
|
|
2024 |
|
|
|
(in million pesos) |
|
Balances at beginning of the year |
|
|
16,067 |
|
|
|
18,895 |
|
Deferred during the year |
|
|
110,987 |
|
|
|
123,975 |
|
Recognized as revenue during the year |
|
|
(112,725 |
) |
|
|
(126,803 |
) |
Balances at end of the year |
|
|
14,329 |
|
|
|
16,067 |
|
|
| Summary of Contract Liabilities and Unearned Revenues Account |
The contract liabilities and unearned revenues accounts as at December 31, 2025 and 2024 are as follows:
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|
|
|
|
|
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|
2025 |
|
|
2024 |
|
|
|
(in million pesos) |
|
Unearned revenues from prepaid contracts |
|
|
5,556 |
|
|
|
6,543 |
|
Leased facilities |
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|
4,444 |
|
|
|
4,630 |
|
Advance monthly service fees |
|
|
2,198 |
|
|
|
2,098 |
|
Short-term advances for installation services |
|
|
2,098 |
|
|
|
2,773 |
|
Long-term advances from equipment |
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|
33 |
|
|
|
23 |
|
Total contract liabilities and unearned revenues |
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|
14,329 |
|
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|
16,067 |
|
|
|
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Contract liabilities: |
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|
|
|
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|
Noncurrent (Note 21) |
|
|
194 |
|
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|
256 |
|
Current (Note 23) |
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|
312 |
|
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|
17 |
|
|
|
|
|
|
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|
Unearned revenues: |
|
|
|
|
|
|
Noncurrent (Note 21) |
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|
4,690 |
|
|
|
5,369 |
|
Current (Note 23) |
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|
9,133 |
|
|
|
10,425 |
|
|
| Summary of General Operating Costs |
General operating costs for the years ended December 31, 2025, 2024 and 2023 consist of the following:
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|
|
|
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|
|
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|
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|
2025 |
|
|
2024 |
|
|
2023 |
|
|
|
(in million pesos) |
|
Repairs and maintenance |
|
|
30,849 |
|
|
|
30,653 |
|
|
|
30,186 |
|
Compensation and employee benefits |
|
|
22,767 |
|
|
|
24,479 |
|
|
|
24,644 |
|
Professional and other contracted services |
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|
7,521 |
|
|
|
7,878 |
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|
|
9,077 |
|
Taxes and licenses |
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|
5,328 |
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|
5,156 |
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|
5,215 |
|
Selling and promotions (Note 18) |
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|
4,914 |
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|
5,427 |
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|
8,037 |
|
Rent |
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|
1,413 |
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|
1,398 |
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|
1,372 |
|
Insurance and security services |
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|
1,402 |
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|
1,408 |
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|
1,344 |
|
Communication, training and travel |
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|
1,134 |
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|
1,165 |
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|
1,229 |
|
Other expenses |
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|
461 |
|
|
|
504 |
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|
|
551 |
|
Total general operating costs |
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|
75,789 |
|
|
|
78,068 |
|
|
|
81,655 |
|
|
| Summary of Compensation and Employee Benefits |
Compensation and employee benefits for the years ended December 31, 2025, 2024 and 2023 consist of the following:
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|
|
|
|
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|
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
|
(in million pesos) |
|
Salaries and other employee benefits |
|
|
19,945 |
|
|
|
20,214 |
|
|
|
20,358 |
|
Pension benefit costs (Note 25) |
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|
1,434 |
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|
1,441 |
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|
|
1,426 |
|
Manpower Rightsizing Program (MRP) |
|
|
1,388 |
|
|
|
1,688 |
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|
2,021 |
|
Incentive plan (Note 25) |
|
|
— |
|
|
|
1,136 |
|
|
|
839 |
|
Total compensation and employee benefits |
|
|
22,767 |
|
|
|
24,479 |
|
|
|
24,644 |
|
|
| Summary of Cost of Devices, Accessories and Contract-Specific Services |
Cost of devices, accessories and contract-specific services for the years ended December 31, 2025, 2024 and 2023 consist of the following:
|
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|
|
|
|
|
|
|
|
|
|
|
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|
2025 |
|
|
2024 |
|
|
2023 |
|
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|
(in million pesos) |
|
Cost of devices and accessories |
|
|
7,447 |
|
|
|
10,046 |
|
|
|
10,948 |
|
Cost of contract-specific services |
|
|
5,337 |
|
|
|
3,965 |
|
|
|
4,144 |
|
Total cost of devices, accessories and contract-specific services |
|
|
12,784 |
|
|
|
14,011 |
|
|
|
15,092 |
|
|
| Summary of Asset Impairment |
Asset impairment for the years ended December 31, 2025, 2024 and 2023 consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
|
(in million pesos) |
|
Trade and other receivables (Note 16) |
|
|
3,838 |
|
|
|
3,875 |
|
|
|
4,119 |
|
Contract assets |
|
|
101 |
|
|
|
181 |
|
|
|
224 |
|
Inventories and supplies (Note 17) |
|
|
23 |
|
|
|
196 |
|
|
|
89 |
|
Prepayments |
|
|
8 |
|
|
|
2 |
|
|
|
— |
|
Property and equipment |
|
|
— |
|
|
|
67 |
|
|
|
— |
|
Total asset impairment |
|
|
3,970 |
|
|
|
4,321 |
|
|
|
4,432 |
|
|
| Summary of Other Expenses - Net |
Other expenses – net for the years ended December 31, 2025, 2024 and 2023 consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
|
(in million pesos) |
|
Gains on sale and leaseback of telecom towers – gross of expenses (Note 9) |
|
|
887 |
|
|
|
1,442 |
|
|
|
7,777 |
|
Interest income |
|
|
719 |
|
|
|
916 |
|
|
|
1,016 |
|
Gains on fair value of investment properties |
|
|
352 |
|
|
|
23 |
|
|
|
259 |
|
Gains on disposal of property and equipment |
|
|
79 |
|
|
|
85 |
|
|
|
468 |
|
Gains (losses) on derivative financial instruments – net (Note 27) |
|
|
(41 |
) |
|
|
1,641 |
|
|
|
(743 |
) |
Equity share in net losses of associates and joint ventures (Note 11) |
|
|
(428 |
) |
|
|
(990 |
) |
|
|
(2,806 |
) |
Foreign exchange gains (losses) – net (Note 27) |
|
|
(550 |
) |
|
|
(36 |
) |
|
|
1,149 |
|
Financing costs – net |
|
|
(18,168 |
) |
|
|
(15,500 |
) |
|
|
(13,755 |
) |
Others – net |
|
|
4,492 |
|
(1) |
|
2,476 |
|
|
|
651 |
|
Total other expenses – net |
|
|
(12,658 |
) |
|
|
(9,943 |
) |
|
|
(5,984 |
) |
(1) Includes reversal of excess LTIP accrual and income from prescription of liability arising from Subscriber Investment Plan (SIP).
|
| Summary of Interest Income |
Interest income for the years ended December 31, 2025, 2024 and 2023 consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
|
(in million pesos) |
|
Interest income arising from revenue contracts with customers |
|
|
480 |
|
|
|
574 |
|
|
467 |
|
Interest income on cash and cash equivalents (Note 15) |
|
|
176 |
|
|
|
267 |
|
|
469 |
|
Interest income on financial instruments at amortized cost |
|
|
46 |
|
|
|
47 |
|
|
54 |
|
Interest income on financial instruments at FVPL |
|
|
— |
|
|
|
8 |
|
|
12 |
|
Interest income – others |
|
|
17 |
|
|
|
20 |
|
|
14 |
|
Total interest income |
|
|
719 |
|
|
|
916 |
|
|
|
1,016 |
|
|
| Summary of Financing Costs - Net |
Financing costs – net for the years ended December 31, 2025, 2024 and 2023 consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
|
(in million pesos) |
|
Interest on loans and other related items |
|
|
15,921 |
|
|
|
13,620 |
|
|
|
12,159 |
|
Accretion on lease liabilities (Note 10) |
|
|
4,579 |
|
|
|
3,935 |
|
|
|
3,266 |
|
Accretion on financial liabilities |
|
|
372 |
|
|
|
455 |
|
|
|
409 |
|
Financing charges |
|
|
20 |
|
|
|
79 |
|
|
|
90 |
|
Capitalized interest (Note 9) |
|
|
(2,724 |
) |
|
|
(2,589 |
) |
|
|
(2,169 |
) |
Total financing costs – net |
|
|
18,168 |
|
|
|
15,500 |
|
|
|
13,755 |
|
|