PHI vs VZ: How PLDT and Verizon Communications Compare (2026)

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: PHI is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. PHI and VZ share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined PHI and VZ exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

PLDT Inc. is the largest integrated telecommunications company in the Philippines, running a mobile network under the Smart and TNT brands, the country's biggest fixed-line and fiber broadband footprint, an enterprise and data-center arm (VITRO), and a minority stake of roughly 44% in Maya, one of the Philippines' leading digital banks and payment platforms. Data and broadband now account for roughly 86% of service revenues, up from roughly 85% a year earlier, which is the clearest signal of how far the business has shifted away from legacy voice and SMS. The company reports in Philippine pesos: first-quarter 2026 gross service revenues were ~PHP 54.9 billion (up ~3% year over year), consolidated revenues were ~PHP 56.5 billion, and reported net income was ~PHP 8.9 billion, slightly below the prior year as operating costs rose faster than the top line.

Full PHI guide

Verizon Communications is one of the three national US wireless carriers, providing mobile voice and data service, smartphones and other devices, and home internet to tens of millions of customers. It reports in two segments: Consumer, the bulk of the business, which sells wireless plans, device payment plans, and Fios and fixed wireless broadband to households; and Business, which serves enterprises, small businesses, and government with connectivity and managed services. Verizon makes money primarily from recurring monthly wireless service fees, plus equipment sales when customers buy phones and a growing stream of broadband subscription revenue.

Full VZ guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• PHI drivers: Data and broadband mix shift; Capex discipline and deleveraging.
• VZ drivers: High, long-growing dividend; Wireless subscriber momentum.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The single largest risk for a US-based holder is currency: PLDT earns and declares dividends in Philippine pesos, so a weaker peso against the dollar shrinks the dollar dividend and the ADR price even when the underlying business is unchanged. For VZ, verizon operates in a saturated, intensely competitive US wireless market where AT&T and T-Mobile fight for the same customers with aggressive promotions, pressuring pricing and driving churn.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick PHI if you believe its drivers more; VZ if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the PHI and VZ guides.

PHI. PLDT reports in Philippine pesos and the ADR is quoted and paid in US dollars, so every figure above translates at roughly PHP 57 to the dollar in 2026 and moves with that rate. On annualised core income of roughly PHP 36 billion, the ADR trades at a high single-digit price-to-earnings multiple, low against global telecom peers and consistent with how the market prices emerging-market currency and regulatory risk. Net debt of ~PHP 282 billion and net debt to EBITDA near ~2.5x are the balance-sheet figures that set the ceiling on how much of that cash flow reaches shareholders.

VZ. A mature telecom like Verizon is read differently from a growth stock. The dividend yield and whether free cash flow comfortably covers the payout matter more than earnings growth, which is low single digits at best. The low P/E (around 11) reflects slow growth and a heavy debt load rather than a bargain, so investors weigh dividend coverage, debt trajectory after the Frontier deal, and subscriber trends. The key question is durability of cash flow, not expansion.

Headline figures (approximate, August 2026): PHI shows revenue (ttm) ~PHP 220 billion (~$3.9 billion), q1 2026 net income ~PHP 8.9 billion (~$155 million), 2026 ebitda guidance ~PHP 111 billion, margin ~52%, 2026 capex guidance ~PHP 53 to 57 billion, ~25% of revenue; VZ shows total revenue (fy2025) ~$138 billion, wireless service revenue (fy2025) ~$81 billion, adjusted eps (fy2025) ~$4.70 (approx), free cash flow (fy2025) ~$20 billion.

PHI and VZ are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined PHI and VZ exposure against your real portfolio. It is not an investment adviser.