Globe Telecom (GLO) Q4 2025 earnings summary

Executive summary

• Achieved record consolidated service revenues of PHP 165.1 billion for FY2025, with Q4 revenues at PHP 43.4 billion, driven by robust demand for data and digital services despite macroeconomic and weather challenges.

• Data-related services comprised 88% of total revenues, reflecting successful digital transformation and resilience to digital trends.

• EBITDA reached a record PHP 87.6 billion for 2025, with margin expansion to 53%, supported by disciplined cost management.

• Core net income for 2025 was PHP 20.9 billion, down 3% year-on-year due to higher interest and depreciation, but rebounded in Q4.

• Recognized as the most consistent fixed and mobile network in the Philippines and first to launch Starlink Direct to Cell satellite service in Southeast Asia.

Financial highlights

• Full-year consolidated gross service revenues reached PHP 165.1 billion, stable versus 2024, with Q4 at a record PHP 43.4 billion.

• EBITDA for 2025 was PHP 87.6 billion, up 1% year-on-year, with a margin of 53.1%.

• Net income for 2025 was PHP 23.3 billion; core net income (excluding non-recurring items) was PHP 20.9 billion.

• CapEx for 2025 was PHP 46.2 billion, 18% lower year-on-year, with a CapEx-to-revenue ratio of 28%.

• Free cash flow before dividends turned positive in H1 2025, ahead of expectations.

Outlook and guidance

• Expecting low- to mid-single-digit service revenue growth in 2026, supported by momentum in mobile, broadband, and fintech.

• EBITDA margin projected to remain in the low 50s%, with CapEx below $1 billion for 2026.

• Focus remains on strengthening free cash flow and disciplined capital allocation.