SM, BDO lead 7 Filipino firms in 2025 Forbes Global 2000

For the 23rd year, Forbes has released its Global 2000 list, ranking the world’s largest publicly listed companies based on a composite score of sales, profits, assets and market value.

Amid this formidable global field, seven Philippine companies earned a spot on the list, showcasing the country’s expanding footprint across industries such as banking, energy, retail, utilities and logistics.

SM Investments Corporation (SMIC) leads the Philippine delegation at rank 811. The Sy-led conglomerate posted $10.56 billion in sales and $1.44 billion in profits. Its total assets reached $29.37 billion, with a market capitalization of $18.67 billion. Anchored in retail and property, SMIC remains a dominant force in Philippine business.

Close behind is BDO Unibank, ranked 846, reaffirming its status as the nation’s largest financial institution. Owned by SM Investments, BDO reported $6.31 billion in revenue and $1.43 billion in profits. With $84.33 billion in assets and a market value of $15.09 billion, it continues to be a cornerstone of the Philippine banking sector.

At rank 1,116, Top Frontier Investment Holdings stands out as the country’s largest revenue generator, with $27.53 billion in sales. However, it posted a net loss of $193.1 million, largely due to its operations in the oil and gas sector. Still, its robust $48.88 billion asset base and continued role in critical industries justify its inclusion on the list — despite a relatively modest $380 million market value.

Metropolitan Bank & Trust Co. (Metrobank) follows at rank 1,317. The bank logged $3.61 billion in revenue and $840.2 million in profit, backed by $60.87 billion in assets. With a market value of $5.83 billion, Metrobank continues to exemplify financial stability and prudent management.

Manila Electric Company (Meralco) comes in at rank 1,530, powered by $8.21 billion in revenue and $800.5 million in profit. As the country’s dominant electricity distributor, Meralco holds $10.68 billion in assets and a market capitalization of $11.05 billion — underscoring its vital role in national infrastructure.

Ayala Corporation, ranked 1,644, remains one of the most diversified and respected business groups in the country. With $5.69 billion in revenue, $733.4 million in profits and $30.29 billion in assets, Ayala’s portfolio spans real estate, telecommunications, infrastructure and clean energy. Its current market value is $6.32 billion.

A rising global player, International Container Terminal Services Inc. (ICTSI), rounds out the Philippine list at rank 1,702. ICTSI posted $2.91 billion in revenue and an impressive $830 million in profit, leveraging its growing international footprint in port operations. Despite having the smallest asset base among the Philippine entries ($7.83 billion), its $12.56-billion market value underscores its expanding global relevance.

The presence of these seven companies signals a maturing Philippine corporate sector — one that is increasingly competitive and globally integrated. With robust financials and strategic regional expansion, these firms are helping reshape global perceptions of Philippine business.