Manila Electric Company Balance Sheet

Financials in millions PHP. Fiscal year is January - December.

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	112,896	109,317	84,480	82,789	55,832	55,007
Short-Term Investments	172	140	8,826	7,544	17,997	17,565
Accounts Receivable	56,509	62,176	55,361	42,019	48,927	41,156
Other Receivables	12,790	14,550	9,336	6,251	5,756	3,857
Inventory	10,828	10,983	11,422	11,130	10,629	9,817
Prepaid Expenses	2,857	2,209	3,194	3,178	7,676	5,612
Other Current Assets	16,008	13,849	6,997	9,711	7,470	5,140
Total Current Assets	212,060	213,224	179,616	162,622	154,287	138,154
Property, Plant & Equipment	394,671	379,131	289,376	273,335	244,296	225,891
Goodwill	-	-	-	-	-	35
Other Intangible Assets	40,480	40,658	41,559	53,634	21,691	15,054
Long-Term Investments	132,954	144,759	53,011	52,621	55,531	56,124
Long-Term Deferred Tax Assets	26,396	25,706	26,382	24,628	22,657	27,143
Other Long-Term Assets	23,229	20,401	28,014	21,594	20,799	21,214
Total Assets	829,790	823,879	617,958	588,434	519,261	483,615
Accounts Payable	78,920	90,525	69,177	63,977	65,960	54,489
Accrued Expenses	31,589	30,950	28,115	33,871	33,319	24,906
Short-Term Debt	29,015	36,367	34,287	27,583	29,491	28,834
Current Portion of Long-Term Debt	6,457	7,148	5,692	9,591	5,585	9,114
Current Unearned Revenue	14,385	12,316	11,268	6,339	6,594	7,692
Current Portion of Leases	213	175	102	2,679	483	-
Current Income Taxes Payable	1,852	1,764	2,070	1,550	92	1,637
Other Current Liabilities	85,811	72,805	85,663	88,134	64,201	34,909
Total Current Liabilities	248,242	252,050	236,374	233,724	205,725	161,581
Long-Term Debt	202,668	186,531	54,797	62,272	68,757	52,720
Pension & Post-Retirement Benefits	14,392	13,565	16,263	10,263	2,893	10,257
Long-Term Deferred Tax Liabilities	8,453	8,432	8,769	9,845	5,427	5,959
Other Long-Term Liabilities	139,164	139,777	115,873	104,227	112,350	147,770
Total Liabilities	612,919	600,355	432,076	420,331	395,152	378,287
Common Stock	11,273	11,273	11,273	11,273	11,273	11,273
Additional Paid-In Capital	4,111	4,111	4,111	4,111	4,111	4,111
Retained Earnings	138,261	146,219	123,339	101,746	85,755	75,394
Treasury Stock	-13	-13	-13	-11	-11	-11
Comprehensive Income & Other	12,713	11,547	5,889	5,176	8,536	4,437
Total Common Equity	166,345	173,137	144,599	122,295	109,664	95,204
Minority Interest	50,526	50,387	41,283	45,808	14,445	10,124
Shareholders' Equity	216,871	223,524	185,882	168,103	124,109	105,328
Total Liabilities & Equity	829,790	823,879	617,958	588,434	519,261	483,615
Total Debt	238,353	230,221	94,878	102,125	104,316	90,668
Net Cash (Debt)	-125,285	-120,764	-1,572	-11,792	-30,487	-18,096
Net Cash Per Share	-111.17	-107.16	-1.39	-10.46	-27.05	-16.06
Filing Date Shares Outstanding	1,127	1,127	1,127	1,127	1,127	1,127
Total Common Shares Outstanding	1,127	1,127	1,127	1,127	1,127	1,127
Working Capital	-36,182	-38,826	-56,758	-71,102	-51,438	-23,427
Book Value Per Share	147.59	153.61	128.29	108.50	97.30	84.47
Tangible Book Value	125,865	132,479	103,040	68,661	87,973	80,115
Tangible Book Value Per Share	111.67	117.54	91.42	60.92	78.05	71.08
Land	38,658	38,654	31,601	31,242	18,807	17,699
Buildings	14,742	14,687	13,445	-	15,707	12,946
Machinery	348,151	344,403	323,633	319,689	279,225	271,385
Construction In Progress	130,504	115,498	43,700	37,362	33,907	25,166

Source: S&P Global Market Intelligence. Utility template. Financial Sources.