The Philippine Stock Exchange Posts P1.22 Billion Net Earnings in 2025

The Philippine Stock Exchange, Inc. (PSE) reported a full year net income of P1.22 billion in 2025, up by 1.4 percent from its P1.21 billion profit in 2024.

PSE’s operating revenues soared 103.3 percent to P2.84 billion from P1.40 billion, a result of the consolidation of Philippine Dealing System Holdings Corp. (PDS) in its financial report. Revenues were supported by higher trading and capital raising activities and the incorporation of depository income.

“Despite the negative impact on investor sentiment of political and economic headwinds, our markets still had commendable results. As government continues to address corruption issues, we are hopeful that investor confidence in the market will be restored,” said PSE President and CEO Ramon S. Monzon.

Both PSE and the Philippine Dealing & Exchange Corp. (PDEx), the fixed income market operator, showed notable increase in trading activity. PSE’s total value turnover climbed 19.1 percent to Php1.78 trillion from Php1.49 trillion, while PDEx recorded a 60.8 percent increase in trading value to P15.91 trillion from Php9.89 trillion.

Meantime, listing-related revenues were up by 39.8 percent as listing fees increased to Php764.50 million from P546.95 million. PSE raised P144.13 billion in capital from two (2) initial public offerings, seven (7) follow-on offerings, one (1) stock rights offering, and 14 private placements. PDS, for its part, had 51 corporate bond listings that raised P454.18 billion.

The surge in revenues was tempered by an 80.1 percent drop in the Exchange’s other income to Php166.20 million from P836.32 million. Other income in 2024 included gains on remeasurement of previously held equity interest and equity in net income of an associate amounting to P462.86 million and P98.56 million, respectively. Total expenses were also higher by 62.6 percent to P1.40 billion from P861.67 million driven by integration-related costs.

Mr. Monzon expressed cautious optimism on the prospects of listing and trading activities. “The first two months of 2026 were bullish and we expected higher earnings results and dividend yields to further spur trading activity. However, geopolitical tensions in the Middle East have prompted investors to be on risk-off mode again and the uncertainty from this recent development may linger for some time. Regardless of these headwinds, we will continue to implement our strategic plan, which includes developing products and pursuing sustainability initiatives to support interest in the market. We likewise have upcoming technology upgrades to ensure the operational efficiency and resiliency of our platforms.”

“On the regulatory front, we hope to see the positive impact of reforms in REIT and IPO float requirement rules in encouraging more listings and attracting more investments,” Mr. Monzon added.

The PSEi reached a 14-month high on February 26, 2026. It closed at 6,611.24 on February 27, 2026, up by 9.2 percent year-to-date. Daily average value turnover also increased by 3.5 percent year-to-date to P7.59 billion. Foreign investors had a net buying value of P25.31 billion, from a net selling position of P14.52 billion year-on-year.