However, the meaning of "prodigal" in the context of the parable of the prodigal son is more about "pag-aaksaya" (squandering) or "pagiging maluwag sa pera" (being loose with money).
You can also use "nawalang anak" (lost son) or "nawalang kapatid" (lost sibling) to refer to the prodigal son in the story.
Ultimately, the best translation will depend on the specific context of your use.