Sy companies lead PH firms on Forbes ‘Global 2000’ list
Sy-led companies are among the seven Philippine firms that made it to Forbes Magazine’s latest roster of the world’s 2,000 largest publicly listed firms, cornering a combined market value of $70 billion and showing resilient growth despite global tariff uncertainties.
SM Investments Corp. (SMIC) and BDO Unibank Inc. were the highest-ranked local companies, placing 811th and 846th, respectively.
SMIC, whose businesses span retail, banking and real estate, had $18.67 billion in market value, $1.44 billion in profit, $10.56 billion in sales and $29.37 billion in assets.
“Being named the country’s top company on the Forbes Global 2000 list reflects the broader story of a resilient and evolving Philippine economy—driven by strong fundamentals, vibrant local enterprise and consumption, and the enduring optimism of our people,” SMIC president and CEO Frederic DyBuncio said in a statement sent to the Inquirer.
“Rankings may shift over time, but our purpose remains constant: to create meaningful impact and long-term value for our stakeholders,” DyBuncio added. “We remain committed to working with partners across sectors to help shape a more resilient, equitable, and future-ready Philippines.”
BDO, on the other hand, had $15.09 billion in market value, $1.43 billion in profit, $6.31 billion in sales and $84.33 billion in assets.
They were followed by Top Frontier Investment Holdings Inc. (1,116th), Metropolitan Bank and Trust Co. (1,317th), Manila Electric Co. (1,530th), Ayala Corp. (1,644th) and International Container Terminal Services Inc. (1,702nd).
According to Forbes, the Global 2000 list ranked companies based on four metrics, namely: sales, profits, assets and market value.
“[D]espite the geopolitical uncertainty and combativeness resulting from Donald Trump’s tariffs, all four [metrics] reached records this year,” Forbes said in a statement.
Apart from Top Frontier, all the other Philippine companies on the Forbes list are members of the Philippine Stock Exchange Index (PSEi). The benchmark index is composed of the 30 most valuable and actively traded stocks listed on the local bourse.
For its part, Top Frontier is the controlling shareholder of conglomerate San Miguel Corp., in which it has a 65.99-percent stake.
Despite its relatively low market value of $380 million and a net loss of $193.1 million, Top Frontier made up for it with $27.53 billion in sales and $48.88 billion in assets.
According to Forbes, the 2,000 companies on the 2025 list accounted for $52.9 trillion in annual revenue, $4.9 trillion in profit, $242.2 trillion in assets and $91.3 trillion in market capitalization.
JPMorgan Chase, the largest bank in the United States, emerged at the top of the Global 2000 roster, marking its third consecutive year at No. 1. Its market value was at $677.8 billion, or nearly 10 times that of the combined capitalization of Philippine companies on the list.
America had the most number of companies included in the 23rd iteration of Global 2000 at 612. It was followed by China with 317 companies, including those based in Hong Kong.
