PLDT Achieves Record Service Revenues in 2025 Amid Digital Transformation
PLDT Inc. has announced record-breaking service revenues for the full year of 2025, as robust growth in data, broadband, and digital finance sectors successfully offset ongoing declines in legacy services. The telecommunications giant released its 2025 Full Year Financial and Operating Results on Thursday, February 26, 2026, revealing a resilient performance despite economic challenges.
Financial Highlights and Performance Metrics
Gross service revenues reached an impressive ₱212.2 billion, marking a 2 percent increase from the previous year. Net service revenues also rose by 1 percent to a record ₱196.2 billion. When excluding the drag from legacy services, net service revenues demonstrated a stronger growth of 3 percent, highlighting the company's successful pivot toward digital offerings.
Data and broadband revenues surged to ₱166.5 billion, accounting for 85 percent of net service revenues, up from 84 percent in 2024. This shift underscores PLDT's increasing reliance on high-margin digital services. Consolidated EBITDA increased by 3 percent, or ₱2.7 billion, to a record ₱111.2 billion, with the EBITDA margin holding steady at 52 percent.
Strategic Capital Expenditures and Cash Flow
Capital expenditures were significantly reduced to ₱60.3 billion from ₱78.2 billion in 2024, bringing capex intensity down to 28 percent. This reduction was attributed to tighter spending discipline and improved vendor terms. Notably, PLDT generated positive free cash flow by the end of 2025, achieving this milestone ahead of its 2026 target.
Core income edged up 1 percent to ₱34.6 billion, buoyed by the first full year of profitability from Maya, the company's digital finance arm. However, telco core income slipped 3 percent to ₱33.9 billion, and reported net income declined by seven percent to ₱30 billion due to lower non-core gains and higher non-recurring charges.
Dividend Declarations and Debt Management
The board approved a final dividend of ₱46 per share, bringing total dividends for 2025 to ₱94 per share. This represents 60 percent of telco core earnings per share, which stood at ₱157, while reported EPS was ₱139. Net debt reached ₱284.7 billion as of end-December, with a net debt-to-EBITDA ratio of 2.56 times. Gross debt stood at ₱296.9 billion, with maturities spread out, and credit ratings from Moody's and S&P Global remained at investment grade.
Leadership Insights and Market Momentum
Chairman and CEO Manuel V. Pangilinan emphasized that the company regained momentum in the second half of the year after a challenging start. "Our core business remained stable despite economic headwinds. Disciplined investments strengthened our free cash flow," Pangilinan stated, underscoring the strategic focus on long-term business health.
Wireless and Home Broadband Segments Show Strength
The wireless consumer segment generated ₱85 billion in revenues, with fourth-quarter revenues rising 4 percent quarter-on-quarter. Wireless data revenues increased 1 percent to ₱77.2 billion, accounting for 91 percent of wireless consumer revenues. Total data traffic rose 7 percent to 5,914 petabytes, with active data users reaching 43.2 million.
Fixed wireless access revenues climbed 22 percent year-on-year, driven by migration from 4G to 5G. The number of 5G devices surged 35 percent to 11.2 million, representing 19 percent of total handsets. In the home broadband sector, PLDT Home revenues rose three percent to a record ₱61 billion, while fiber revenues grew 6 percent to ₱59.4 billion, now contributing 98 percent of total home revenues.
Enterprise Expansion and Data Center Growth
PLDT Enterprise posted record revenues of ₱48.4 billion, up 1 percent, led by ICT and digital infrastructure services. Corporate data and ICT revenues rose 3 percent to ₱36.3 billion. The data center arm, VITRO Inc., and ePLDT combined for revenues of ₱6.5 billion, a 22 percent increase. In April 2025, VITRO launched an AI-ready hyperscale data center in Santa Rosa and introduced Pilipinas AI, a sovereign AI solutions stack targeting regulated industries.
Maya's Profitability and Sustainability Initiatives
Maya achieved net income of ₱1.7 billion in 2025, marking its first full year of profitability. Deposits grew 72 percent to ₱68 billion, and cumulative loans disbursed since 2022 reached ₱256 billion. The gross non-performing loan ratio stood at 6.1 percent. Maya expanded partnerships with firms like Cebuana Lhuillier and Philippine Airlines, and deepened collaborations with government agencies.
On the sustainability front, PLDT secured a place in the S&P Global Sustainability Yearbook for the second consecutive year and earned a "B" rating from CDP for climate and water disclosures. The group also intensified cybersecurity efforts, blocking 210 billion attempts to access malicious domains in 2025 and disabling 800,000 mobile numbers linked to scams.
Future Outlook and Strategic Investments
PLDT plans to continue investing in fiber, 5G, and AI-enabled services as it builds what Pangilinan described as a "healthier business for the long term." This strategic focus aims to sustain growth and enhance customer engagement through innovative offerings like bundled services and smart home packages.
