Should I buy DMCI stock in 2025?

What is DMCI?

Important information

*Estimated from operating margins and revenue; company has not disclosed exact Q1 2025 EBITDA.

How much is DMCI stock?

The price of DMCI stock is unchanged this week. As of today, DMCI trades at PHP 10.60 per share, showing no movement over the past 24 hours, but recording a 1.92% drop over the last week. The company’s market capitalization stands at PHP 140.74 billion, with an average daily trading volume of 3.1 million shares over the past three months.

DMCI currently posts a P/E ratio of 7.63, offers an attractive dividend yield of 10.15%, and has a stock beta of 0.56, indicating lower volatility compared to the broader market. With its strong dividend and broad sector exposure, DMCI remains a compelling option for investors looking for value and relative stability in the Philippine stock market.

Our full analysis on DMCI stock

Having rigorously reviewed DMCI Holdings, Inc.’s latest financial disclosures and stock performance across the past three years, our integrated analysis—leveraging proprietary algorithms blending financial metrics, technical signals, market sentiment, and peer comparables—reveals an intriguing positioning within the Philippine conglomerate and infrastructure sector. The interplay of resilient core profitability, dynamic segment realignments, and sectoral catalysts warrants close scrutiny. So, why might DMCI be poised to emerge once more as a strategic entry point into Philippine infrastructure and diversified holdings as we move into 2025?

Recent performance and market context

Over the past year, DMCI Holdings ("DMC"; PHP 10.60 as of May 27, 2025) has demonstrated remarkable resilience amid sector rotation and shifting macroeconomic sentiment. While the stock has pulled back modestly—shedding 6% over twelve months and 7% over the past six months—this correction has not been accompanied by a deterioration in fundamental strength or market positioning. In fact, the broader Philippine equity market has seen similar volatility, largely attributable to moderating global commodity cycles and recalibration following pandemic-era infrastructure booms.

Critically, several events underscore the ongoing positive narrative:

• Strong Revenue Expansion: The Q1 2025 topline rose 16% year-on-year, reaching PHP 31.86 billion, an impressive pace relative to most Philippine conglomerates, even as some legacy segments experienced temporary headwinds.
• Successful Integration and Expansion: The completion of the Cemex Asian South East acquisition in December 2024 broadens DMCI’s exposure to construction materials—integral as government and private investment in infrastructure remain at historic levels.
• Secular Macro Tailwinds: The Philippines persists among the fastest-growing ASEAN economies. Government spending on infrastructure, housing, and utilities is a powerful backdrop, directly benefiting DMCI’s core and expansion businesses.

This recent consolidation phase in DMC’s share price—coupled with robust financial outperformance and sectoral support—positions the stock as a notable value opportunity in an environment that increasingly favors quality, diversified exposure.

Technical analysis

From a technical perspective, DMC has entered a zone characterized by consolidation with emerging bullish undertones:

• Moving Averages: With the 20-day, 50-day, and 100-day moving averages converging closely around the current price (PHP 10.59–10.60), and the longer-term 200-day MA at PHP 10.80, the setup signals compression often preceding upward breakouts.
• Momentum Indicators:
• The RSI (14) stands at 52.62, reflecting neither overbought nor oversold conditions—primed for renewed momentum.
• The MACD is currently positive (0.016), and paired with a bullish Stochastic Oscillator at 57.74, suggests an underlying shift towards buying pressure.
• Support and Resistance: DMC is trading on critical support at PHP 10.50, well above the 52-week low (PHP 10.12), with successive resistance levels at PHP 10.80, PHP 11.60, and ultimately PHP 12.40. The medium-term risk/reward profile is thus skewed favorably for upside exploration should technical resistance be breached.

Short- to medium-term technicals indicate that downside appears buffered, while any incremental positive catalyst could serve as a trigger for a bullish reversal.

Fundamental analysis

A closer look at DMCI’s underlying business fundamentals strengthens the case for renewed investor attention:

• Profitable Expansion Despite Headwinds: Despite a 9% decline in net income (PHP 5.1 billion vs. PHP 5.6 billion y/y), this is contextualized by deliberate reinvestment and acquisition costs. More importantly, revenue expanded 16% and several key segments posted impressive gains:
• Real estate (DMCI Homes): +56% y/y
• Water utility (Maynilad): +39% y/y
• Mining (DMCI Mining): Turned profitable, reversing a prior loss
• Attractive Valuation: Trading at a P/E of just 7.63 and a P/B of 0.97, DMCI is valued at a significant discount to both its historical average and sector peers, particularly considering its superior operating margins (20.77%) and robust ROE (18.12%). The EV/EBITDA multiple of 5.61 further suggests deep value relative to growth-oriented Philippine conglomerates.
• Structural and Strategic Strengths:
• Diversification: Exposure across housing, power, water, mining, and cement provides important earnings resilience.
• Brand and Legacy: As the Philippines’ premier infrastructure holding, DMCI benefits from long-established government, commercial, and retail relationships.
• Balance Sheet Health: A current ratio of 2.10 and relatively modest leverage (Debt/Equity of 0.47) enables both continued dividend payouts and strategic reinvestment.

These factors collectively imply that the market may be undervaluing DMCI’s durable cash generation and multi-year, cross-sector growth trajectory.

Volume and liquidity

Liquidity indicators strongly signal sustained investor confidence:

• Robust Trading Volumes: With a 3-month average daily volume of 3.1 million shares, DMC remains one of the more actively traded Philippine conglomerates, ensuring ample entry and exit liquidity for both institutional and retail participants.
• Substantial Public Float: At 3.47 billion shares, the float supports efficient price discovery and dynamic revaluation potential—essential as new catalysts materialize through 2025.

This market liquidity mitigates execution risk for both short-term traders and long-term investors seeking significant position sizes.

Catalysts and positive outlook

Looking forward, several positive triggers stand to serve as inflection points for further price appreciation:

• Cement Business Integration: While still operating at a loss (PHP 546 million in Q1 2025), the recently acquired Cemex unit is on track for operational ramp-up, targeting synergies across DMCI’s construction and real estate arms—offering substantial EBITDA expansion potential.
• Mining Turnaround: The full activation of Zambales Chromite Mining Company and the steady recovery of nickel prices set the stage for a multi-quarter uplift in mining earnings, helping offset volatility in coal markets.
• Infra and Housing Boom: Government emphasis on infrastructure and the chronic housing backlog in the Philippines is structurally favorable for DMCI’s construction and real estate subsidiaries, driving robust pre-sales and order books.
• High Dividend Payouts: Even after a step-down, the 10.15% dividend yield remains one of the most attractive in the market, signaling management’s confidence in cash flows and commitment to shareholder returns.
• ESG and Sustainability: Growing socially responsible investing trends favor DMCI’s initiatives in water utilities and renewable power, enhancing its relevance to both domestic and international investors.

DMCI’s position at the intersection of multiple secular growth stories—all while trading at value multiples—remains distinctive and underappreciated.

Investment strategies

For investors seeking an entry point, DMC appears to justify renewed interest across various time horizons:

• Short-term positioning: Current technical support (PHP 10.50) coupled with a positive MACD and Stochastic reading offers a favorable low-risk entry, particularly for those seeking attractive yield and near-term price appreciation potential as the broader market rotates towards defensive value plays.
• Medium-term strategy: Anticipating operational improvements in cement and mining, plus further expansion in water and real estate, medium-term holders could benefit from margin and revenue expansion translating into upward EPS revisions and, as a result, share price recovery towards the PHP 11.60–12.40 resistance range.
• Long-term perspective: DMCI’s diversification, market leadership, prudent capital management, and exposure to the Philippines’ multi-decade infrastructure and demographic growth trends create a rare platform for compounding value over time. The current market consolidation phase arguably offers a compelling accumulation window before operational and macro tailwinds fully materialize.

Investors may find an ideal positioning at prevailing levels, especially for those looking to average in at technical lows or in anticipation of the next leg of structural earnings growth.

Is it the right time to buy DMCI?

Reassessing DMCI through a rigorous, balanced financial lens, several points stand out:

• Compelling valuation: Target multiples materially below domestic peers, despite sector leadership and expansion momentum
• Resilient and diversified earnings: Supported by structural tailwinds in Philippine infrastructure, real estate, water, and mining
• High and sustainable dividend yield: At 10.15%, presenting a rare combination of income and value
• Multiple operational and macro catalysts ahead: Integration of new business units, government infrastructure spending, and mining recovery

Ultimately, DMCI appears strategically positioned for a new bullish phase supported by both technical structure and long-term fundamentals. The confluence of resilient earnings, discounted valuation, and positive sector dynamics suggests that DMC stock merits serious consideration for portfolios attuned to growth, value, and income in the Philippine market.

Investors seeking exposure to the Philippine infrastructure and diversified holdings space may find DMCI to be an excellent opportunity at this juncture, with current conditions setting the stage for renewed upward momentum and sustained shareholder value creation.

How to buy DMCI stock in the PH?

Buying DMCI Holdings (DMC) stock online is both simple and secure when you use a regulated broker in the Philippines. Investors typically have two main choices: purchasing actual shares (also known as spot or cash buying) or trading DMCI stock via CFDs (Contracts for Difference), which allow you to speculate on price movements without owning the shares. Each method has specific features, fees, and benefits. Choosing the right platform is essential—see our detailed broker comparison further down the page to find what suits you best.

Spot Buying

Spot (or cash) buying means purchasing real DMCI shares, making you a shareholder eligible for dividends and voting rights. This transaction is done through a local broker accredited by the Philippine Stock Exchange. Typical fees are straightforward: most brokers charge a fixed commission per order, usually around PHP 20–50, plus a percentage-based charge (often 0.25–0.30%) and minimal regulatory fees.

Practical example

Suppose you want to invest PHP 56,100 (about USD 1,000) in DMC at the current market price of PHP 10.60 per share. Accounting for a PHP 300 total brokerage and related fees, your PHP 56,100 will let you buy approximately 5,260 shares.
✔️ Gain scenario:
If the share price increases by 10%, your shares are now worth PHP 61,710—giving you a gross gain of PHP 5,610, or +10% on your investment (excluding taxes).

Trading via CFD

CFD trading lets you speculate on DMCI’s share price without owning the underlying stock. CFDs are offered by online brokers and allow you to amplify your position using leverage (for example, 5x your initial investment). You pay a spread (the difference between buy and sell price) and, if you keep your position overnight, a small daily financing charge.

Example

Open a CFD position on DMCI with PHP 56,100 (USD 1,000) and 5x leverage, totaling PHP 280,500 market exposure.
✔️ Gain scenario:
If DMCI’s stock price rises by 8%, your CFD position gains 8% × 5 = 40%. That’s a gross gain of PHP 22,440 on your PHP 56,100 initial stake (before fees and taxes).

Final Advice

Before investing, carefully compare the fees, features, and security provided by different brokers—costs can vary and have a real impact on your returns. Your choice should match your investment goals: if you want ownership, dividends, and long-term growth, spot buying is ideal; if you prefer flexible, short-term trading with leverage, CFDs might suit you better. For a full comparison of available brokers and their conditions, consult the broker table further down the page. Investing in DMCI is accessible—just take the time to pick the method and platform that fits you best.

Our 7 tips for buying DMCI stock

The latest news about DMCI

DMCI Holdings reported strong revenue growth of 16.14% year-on-year for Q1 2025, reaching PHP 31.86 billion. This robust topline expansion reflects the continued recovery and solid demand in several of the company's key business areas. Notably, DMCI’s diversified portfolio contributed to this growth, buffering external risks in specific sectors and underscoring the resilience of the conglomerate’s operational model in the Philippine market.

DMCI Homes, the group’s real estate segment, delivered outstanding performance with a 56% year-on-year contribution increase in Q1 2025. Driven by high demand for mid-income residential units in Metro Manila and select regional areas, DMCI Homes’ growth outpaced peers and facilitated incremental value creation for DMCI Holdings. The strategic expansion of project pipelines and accelerated project turnovers have been well-received by both the market and investors, supporting a positive outlook for the segment.

Maynilad Water Services, where DMCI holds a 27% stake, posted a significant 39% growth in contribution, highlighting the water utility’s defensive and growth attributes. The performance was fueled by sustained improvements in operational efficiency and growing service coverage across Metro Manila and adjoining areas. As water security and infrastructural reliability remain key concerns in the Philippines, Maynilad’s results signal both stability and further upside potential for DMCI Holdings.

DMCI Mining recorded a turnaround, achieving PHP 409 million in Q1 2025 after having posted a loss in the previous year. The return to profitability was mainly attributed to the full activation of its Zambales Chromite Mining Company and a rebound in nickel operations. This signals effective execution of DMCI’s mining expansion strategy and supports optimism for continued earnings contribution as global mineral demand stabilizes and local regulatory environments remain supportive.

Technical signals as of May 27, 2025, indicate a constructive setup for the DMCI stock, with both MACD and Stochastic Oscillator on ‘buy’ signals and neutral RSI. The share price remains stable above major support levels and is trading close to its 20- and 100-day moving averages, while a dividend yield of 10.15% further enhances the stock’s attractiveness for yield-oriented investors. These technical and income features, combined with a conservative valuation (P/E 7.63, Price-to-Book 0.97), offer a compelling investment profile for professional market participants in the Philippines.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.