Should I Buy First Gen (FGEN) Stock in 2025?

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At HelloSafe, our expert has been tracking the performance of First Gen for over three years. Every month, hundreds of thousands of users in the Philippines trust us to analyze market trends and identify the best investment opportunities. Our analyses are provided for informational purposes and do not constitute investment advice. In accordance with our ethical charter, we have never been, and will never be, compensated by First Gen.

What is First Gen?

How much is First Gen stock?

The price of First Gen stock is falling this week. As of today, the current stock price is ₱18.00, reflecting a 24-hour decrease of 0.44%. Weekly trend data is unavailable, but the company maintains a market capitalization of ₱64.74 billion and a three-month average daily volume of 688,620 shares. The stock trades at a price-to-earnings (P/E) ratio of 4.56, offers a dividend yield of 4.72%, and has a beta of 0.52, signaling lower volatility than the overall market. With its strong market position and balance between value and income, First Gen presents an interesting opportunity for investors seeking stability in the Philippine energy sector.

Our full analysis on the First Gen stock

After a critical review of First Gen’s latest financial disclosures and a careful assessment of its share price trajectory over the last three years, we’ve aggregated diverse sources—ranging from quantitative indicators and technical charts to competitor benchmarking—using our proprietary analytics approach. This holistic method delivers a nuanced snapshot of the company’s performance, resilience, and future prospects in the rapidly evolving Philippine energy landscape. So, why might First Gen stock once again become a strategic entry point into the clean energy sector in 2025?

Recent performance and market context

First Gen stock has shown impressive resilience and renewed momentum, currently trading at PHP 18.00, which marks a robust recovery of 11.66% over the past six months and a steady 5.79% increase year-on-year. This upward movement reflects a distinct market preference for utilities and clean energy leaders amid broader volatility. The news flow is notably positive: the company’s landmark agreement to sell 60% of its gas assets to Prime Infrastructure Capital has unlocked significant capital, strengthening its position for renewable growth. In the context of the Philippines’ accelerating transition toward clean, sustainable energy, demand for reliable operators like First Gen remains high. Sectoral tailwinds—ranging from supportive government frameworks to rising electricity consumption—are constructing a highly supportive macro backdrop, underscoring First Gen’s status as a core holding for Philippine growth-oriented investors.

Technical analysis

Current technical signals for First Gen paint a promising picture for tactically-minded investors. The Relative Strength Index (RSI) is balanced at 47.27, signaling neutral-to-bullish momentum and suggesting that the stock is neither overbought nor oversold—a favorable position for new entries. The MACD has recently turned positive (0.04), offering a clear buy signal, while the 50-day and 200-day moving averages both sit below the current price, confirming an established uptrend structure. Strong support has formed near the PHP 15.90 level, with upside capped only by the 52-week high resistance at PHP 22.00. While some short-term moving averages signal caution, the structural environment suggests a bullish reversal could be underway, especially with volume patterns and macro catalysts aligning. For medium-term investors, the chart patterns indicate potential for a new leg higher as positive catalysts materialize.

Fundamental analysis

From a fundamental perspective, First Gen offers compelling value and earnings resilience. The company’s Q1 2025 results show a 4.4% rise in net income to USD 82.3 million, defying a modest sales dip—testament to cost discipline and robust operational efficiency. With a trailing P/E of just 4.56, the stock remains undervalued compared to peers in both the Philippines and the wider Asia-Pacific region. Dividend investors benefit from a 4.72% yield, underpinned by steady cash flows and disciplined capital allocation. First Gen’s strategically diversified portfolio—covering natural gas, geothermal, hydro, wind, and solar—is unmatched in the Philippine market. Its status as the country’s largest independent clean energy producer ensures critical market share, strong brand equity, and a clear runway for profitable expansion as Filipinos and policymakers increasingly prioritize renewable solutions. The valuation remains attractive, especially in light of renewed capital flexibility post-asset sale and further project pipeline deployments.

Volume and liquidity

Sustained trading activity is another marker of investor confidence in First Gen. With average daily volume at 688,620 shares, liquidity remains robust, fostering tighter spreads and facilitating seamless entry and exits for both institutional and retail participants. A healthy float enables dynamic price discovery and provides a solid foundation for revaluation as the market digests new strategic partnerships and earnings updates. This level of participation also reduces single-player influence, improving the integrity of price action and helping ensure that fundamental catalysts are reflected efficiently in the share price.

Catalysts and positive outlook

• The sale of a majority stake in its gas assets to Prime Infrastructure Capital injects 50 billion PHP into the balance sheet, directly funding the company’s pivot to renewables.
• A reinforced focus on clean energy positions First Gen to capture surging demand for green power, supported by its dominant installed base (3,474.2 MW) and industry-leading innovation.
• Strategic alliances, such as the Tokyo Gas partnership, open new avenues for LNG and project co-development.
• The Philippines’ ambitious energy transition policies, along with new ESG mandates from local and foreign institutions, strengthen the backdrop for First Gen’s business model.
• Technological advancements, capex discipline, and ongoing expansion in wind, geothermal, and solar facilities amplify First Gen’s competitive moat.
• The market sentiment is favorable, with a “Buy” analyst consensus and an average target price of PHP 21.87—indicating a realistic upside given supportive regulatory, consumption, and innovation trends.

Investment strategies

• For short-term traders, the technical setup near recent support levels presents an opportunity to capture upward moves ahead of likely positive re-ratings or news flow.
• Medium-term investors can benefit from the expected ramp-up in renewables deployment and earnings normalization as post-transaction integration accelerates.
• Long-term holders may view First Gen as a strategic portfolio backbone, combining defensive infrastructure with exposure to structural Philippines growth and the global clean energy boom.
• Positioning at current levels—well above key support but below recent highs—allows investors to take advantage of favorable risk/reward conditions before the next planned growth phase.
• Entry ahead of anticipated regulatory and policy-related catalysts (e.g., new clean energy incentives, additional foreign partnerships) may amplify returns.

Is it the right time to buy First Gen?

In summary, the evidence from every angle—technical, fundamental, and strategic—points toward First Gen as an authentic value and growth proposition at a decisive moment in the Philippine clean energy cycle. With a powerful combination of undervaluation, operational excellence, and high-impact catalysts, the fundamentals justify renewed interest from all classes of investors. The market’s structural transition to renewables, reinforced by tangible financial and operational progress, suggests the stock may be entering a new bullish phase. For those seeking a robust entry into the Philippines’ energy renaissance, First Gen seems to represent an excellent opportunity to participate in the future of sustainable infrastructure and resilient returns.

First Gen stands at the convergence of policy, profit, and progress—making it one of the most promising opportunities in the Philippine equity landscape today.

How to buy First Gen stock in the Philippines?

Buying First Gen stock online is simple and secure when you go through a regulated broker in the Philippines. You can choose between two main approaches: spot buying, where you acquire the actual shares, or trading CFDs, which let you speculate on price movements with leverage. Each method has its own advantages and risk profile, making it important to understand their differences. For help picking the best broker for you, we provide a detailed comparison further down the page.

Spot buying

This approach means you purchase First Gen shares directly through your broker, becoming an official shareholder eligible for dividends and voting rights. Spot buying typically involves a fixed commission per order, which with most PH brokers is around $5 (about ₱290), payable in local currency.

Gain scenario

If the First Gen share price is $0.32 (approximately ₱18.00 PHP), you can buy around 3,115 shares with a $1,000 stake, including a brokerage fee of about $5.

If the share price rises by 10%, your shares are now worth $1,100.

Result: +$100 gross gain, i.e. +10% on your investment.

This straightforward ownership model is well suited for investors who want to hold shares over the long term and benefit from dividends.

Trading via CFD

With CFDs (Contracts for Difference), you do not own First Gen shares, but you can profit from price movements in either direction. CFDs are attractive for short-term trading and often allow for leverage—meaning your $1,000 can give you larger market exposure. However, CFD positions may incur additional charges, such as the spread (difference between buy and sell prices) and overnight financing fees if you hold your position after market close.

Gain scenario

You open a CFD position on First Gen shares with 5x leverage for a $1,000 stake. This gives you market exposure of $5,000.

If the stock rises by 8%, your position gains 8% × 5 = 40%. Result: +$400 gain, on a bet of $1,000 (excluding fees).

CFD trading is ideal for experienced investors who are comfortable with higher risk and want to multiply potential returns in the short term.

Final advice

Before investing in First Gen, take time to compare brokers’ fees, conditions, and available features—small differences can impact your results. Ultimately, the best method depends on your financial goals and how actively you wish to trade; refer to our broker comparison further down the page for more guidance.

Our 7 tips for buying First Gen stock

The latest news about First Gen

First Gen completes strategic sale of 60% gas assets to Prime Infrastructure Capital for PHP 50 billion. This official transaction, finalized within the past week, injects 896 million USD in capital, enabling First Gen to prioritize expansion in renewable energy. The company retains a profitable 40% stake, strengthening its balance sheet and funding new clean energy projects in the Philippines.

First Gen posts 4.4% year-on-year increase in Q1 2025 net income despite lower revenues. According to the company's recent quarterly report, net income rose to 82.3 million USD, up from 78.8 million USD last year, even as revenues slipped 2.2%. The improvement reflects First Gen's disciplined operations, successful cost controls, and continued capacity to deliver value in the Philippine independent energy sector.

Analyst consensus remains positive following First Gen’s robust dividend yield and reaffirmed “Buy” rating. Recent coverage highlights a dividend yield of 4.72% and a consensus target price of PHP 21.87, suggesting strong upside potential. Analyst optimism is supported by the company's stable fundamentals, attractive valuation (P/E ratio 4.56), and dominant position in the local renewables market.

First Gen solidifies Philippine clean energy leadership with a diversified 3,474 MW installed capacity portfolio. First Gen’s operational footprint encompasses natural gas, geothermal, hydroelectric, wind, and solar, reinforcing its status as the country’s largest independent producer of clean and renewable energy. This scale directly supports the Philippines' growing commitment to sustainable power solutions and decarbonization targets.

The recent Prime Infrastructure deal positions First Gen for accelerated renewables investment and local market impact. Industry and investor commentary over the past week confirm that proceeds from the asset sale will drive significant new capacity in renewables and grid resilience, aligning First Gen with government energy transition priorities and regional sustainability goals.

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.