Top Frontier Investment Holdings, Inc.

Top Frontier Investment Holdings, Inc.

TPHIF
Top Frontier Investment Holdings, Inc.US flagOther OTC
1.81
USD
-0.41
- -
683.97MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
441.21
2,340.09
2,037.06
2,076.68
2,503.21
3,105.8
3,092.36
2,199.32
2,852.04
4,565.22
4,052.22
4,206.24
3,970.22
4,967.12
Basic EPS, GAAP
23.13
11.07
0.52
32.13
32.42
16.31
24.2
-5.61
-4.4
-49.67
-17.71
-36
45.89
-3.44
Free Cash Flow per Basic Share
29.44
-4.24
8.33
113.54
122.03
35.26
29.04
-74.88
-154.15
-464.04
-152.34
-40.96
199.71
-27.17
Dividend per Share
0.57
- -
- -
- -
- -
- -
- -
- -
- -
- -
39.12
5.43
5.43
5.82
Book Value per Share
275.86
283.07
275.87
366.93
406.67
476.23
487.19
477.59
483.88
585.23
490.43
432.88
649.31
640.24
Tangible Book Value per Share
-246.43
-265.98
-620.91
-478.47
-470.2
-648.55
-643.01
-714.15
-772.18
-1,005.72
-1,060.15
-1,210.86
-1,045.53
-1,085.17
Basic Weighted Avg Shares
464
330
330
330
330
330
330
330
330
330
357
375
375
350
Sales/Revenue/Turnover
204,720
772,230
672,231
685,303
826,058
1,024,915
1,020,480
725,776
941,173
1,506,522
1,446,643
1,577,340
1,488,832
1,736,586
Operating Margin (%)
5.71
7.03
11.67
14.79
13.2
11.29
11.29
10.14
11.71
7.07
9.91
10.35
12.37
11.5
Depreciation Expense
17,754
28,554
40,376
54,486
37,649
55,129
38,157
30,029
49,284
57,678
58,865
60,242
70,580
73,125
Net Income, GAAP
11,578
3,652
172
11,413
12,318
7,000
9,604
-233
166
-14,679
-2,667
-11,065
19,645
1,843
Effective Tax Rate (%)
7.87
28.34
41.07
31.85
33.7
35.52
37.31
40.13
28.87
35.65
38.7
43.25
23.9
24.92
Profit Margin (%)
5.66
0.47
0.03
1.67
1.49
0.68
0.94
-0.03
0.02
-0.97
-0.18
-0.7
1.32
0.11
Working Capital
104,866
158,211
56,917
73,785
117,459
126,813
175,244
228,686
165,290
153,490
81,330
160,288
165,026
255,674
LT Debt
478,177
505,617
516,013
466,025
511,431
692,117
761,964
787,677
799,144
974,089
991,759
1,204,770
1,208,989
1,318,081
Total Equity
368,774
394,478
388,588
463,977
498,029
537,132
602,060
687,120
711,075
728,307
754,190
764,470
834,201
879,996
Return on Invested Capital (%)
1.98
3.5
4.04
5.89
5.93
5.4
4.58
2.6
4.36
3.38
3.93
3.96
5.7
5.8
Return on Capital (%)
0.73
-0.21
-0.7
-0.62
-0.84
-0.43
0.07
0.18
-0.77
-0.88
-0.01
-0.28
0.58
0.32
Return on Common Equity (%)
23.37
3.93
0.19
9.94
8.31
3.66
4.98
-1.15
-0.91
-9.21
-3.33
-7.74
8.42
-0.55

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
419,708
472,876
518,698
LT Borrowings
1,181,437
1,208,825
1,292,969
LT Finance Leases
27,552
26,271
25,112
Preferred Equity and Hybrid Capital
260
260
260
Shares Outstanding
378
378
378
Market Capitalization
- -
- -
- -

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
886,619
1,086,185
1,087,720
Cash, Cash Equivalents & STI
355,053
426,008
457,023
Accounts Receivable, Net
180,288
185,511
198,677
Inventories
148,909
248,969
206,653
Total Current Liabilities
721,593
904,697
832,046
Payables & Accruals
- -
- -
- -
ST Debt
419,708
472,876
518,698
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.07%
3.99%
9.12%
Free Cash Flow
40.69%
-83.38%
-587.55%
Net Income, GAAP
-272.35%
-1,831.7%
-277.54%
Sales/Revenue/Turnover
10.64%
17.84%
-5.61%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
392,707
396,549
392,048
396,036
1,577,340
2025
360,938
357,917
374,688
395,289
1,488,832
2026
428,506
538,103
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-7.02
-22.33
20.79
- -
-36
2025
41.82
13.8
-7.68
- -
45.89
2026
5.54
4.22
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.09
1.75
1.51
- -
5.43
2025
1.63
1.45
1.38
- -
5.43
2026
1.63
1.61
- -
- -
- -

Company Description

CEO
Ramon S. Ang
Full Time Employees
56,726
Sector
Industrials
Industry
Conglomerates
Address
ENZO Building Makati City Philippines 1200
IPO Date
Mar 21, 2014
Business
Top Frontier Investment Holdings, Inc. is an investment holding company based in Makati City, Philippines, incorporated in 2008. The company operates through various subsidiaries, with key business segments in food and beverage, packaging, energy, mining, fuel and oil, infrastructure, cement, and real estate property management and development. Its core products and services include poultry, fresh meat, and refrigerated and canned meat products; dairy items such as butter, margarine, cheese, milk, and ice cream; jelly-based snacks and desserts; specialty oils and salad aids; snacks and condiments; flour mixes and bakery ingredients; and coffee-related products. It also offers feeds, poultry and livestock farming, grain terminal handling, and food services, as well as fermented, malt-based, and non-alcoholic beverages; various liquors including brandy, rum, and vodka; and value-added refrigerated meats such as hotdogs, nuggets, bacon, hams, ready-to-eat meals, seafood lines, and meat-free products. The company further produces and sells packaging materials including glass containers and molds, polyethylene terephthalate (PET) bottles and preforms, PET recycling services, plastic closures, corrugated cartons, woven polypropylene, kraft sacks and paperboards, pallets, flexible packaging, plastic crates, plastic films, trays, pails, tubs, metal closures, aluminum cans, woven products, industrial laminates, and radiant barriers, along with packaging development and consultation services. In its energy and infrastructure segments, the company retails and distributes power, refines and markets petroleum products, and is involved in the development and construction of toll roads, airports, railways, and bulk water facilities. Its mining operations include exploration, development, and utilization of mineral deposits such as nickel, cobalt, chrome, iron, and gold. It also produces and sells cement and engages in real estate development, sales, and leasing. Top Frontier Investment Holdings is notable for its controlling stake (over 60%) in San Miguel Corporation, one of the largest conglomerates in the Philippines, and wholly owns Clariden Holdings, Inc., which focuses on mineral exploration and development. Recent major company changes include a significant equity subscription agreement with Far East Holdings Inc. valued at approximately PHP 10.86 billion in 2023, which entails the issuance of new common shares and amendments to perpetual securities, including changes in distribution rates and conversion features into common shares. This move further strengthens the strategic alliance with Far East Holdings, led by Ramon S. Ang, who is also Top Frontier's president and CEO. The company continues to focus on strategic investments and operational expansions across its diverse sectors, maintaining its position as a leading investment holding firm in the Philippines.