Forbes magazine has just released its much-anticipated Global 2000 list, an annual ranking of the world’s largest publicly listed firms. The US-based publication ranks the companies based on four metrics: sales, profit, assets and market value.
In what the magazine describes as a “a rollercoaster of a year for global markets,” JG Summit has again made it to the prestigious list, coming in at 1720th place, one of only six Philippine companies to join the world’s elite. The conglomerate had a market cap of $8.5 billion in 2018 (ranking 1525th worldwide), with sales listed at $5.3 billion, $14.7 billion in assets, with net profit of $440 million.
Leading the Filipino-owned companies was BDO, which landed on the 1,018th spot with market value of $11.2 billion, $3.4 billion sales, $57.5 billion in assets, and profits at $621 million. The Sy family’s holding firm, SM Investments Corp., followed in 1092nd place, with a market cap of $21.6 billion, sales at $8.5 billion, $19 billion in assets, and net profit at $664.3 million.
Up into the 1196th spot was Ramon Ang’s Top Frontier Investment Holdings, the largest shareholder of San Miguel Corporation, with a relatively modest market cap of $1.7B, but with revenues of $16.7 billion and assets worth $32.4 billion. Ayala Corp. took 1,236th spot with a market cap of $11 billion and $5.2 billion in sales. Metropolitan Bank & Trust Co., better known as Metrobank, was the only other Philippine Bank on Forbes’ list. It ranked 1639th in 2019, on the basis of its market cap of $6 billion, revenues of $2.3 billion, and assets worth $39.6 billion.
In 1720th place, JG Summit rounds out the Philippine companies on the list, which have a combined $41.2 trillion in revenues, $3.4 trillion in profits, $186.7 trillion in assets and $56.8 trillion in market capitalization.
The United States continues to have the highest number of companies on the list with 575, but quickly catching up is China (including Hong Kong) which has 309. Companies listed under Banking and Diversified Financials lorded it over the rankings, accounting for 453 out the 2000 listed companies, dwarfing the next largest industry, technology, which posted 154.
Since 2013, ICBC, or the Industrial & Commercial Bank of China Ltd, has sat at the top of the rankings, with a market cap of $305.1 billion and a staggering $4034.5 billion in assets for 2018.
