In its September 2019 issue, Forbes Asia magazine compiled its inaugural “Best Over a Billion” list, composed of 200 companies in the Asia-Pacific region with revenues of at least $1 billion. Eight Philippine companies made the cut.
The companies were picked from a universe of 3,200 listed firms across the region and were evaluated based on various metrics, including their average five-year sales, operating income growth, return on capital, and projected growth over the next one or two years.
Forbes Asia said that the goal is to find the region's best-run companies that are doing well on not just one metric but across many of them, resulting in a list that represents the best of Asia-Pacific's big companies.
Of the eight companies from the Philippines landing on the list, JG Summit Holdings, under the leadership of President and CEO Lance Y. Gokongwei, ranked no. 3 for earning $5.327 billion in revenue, net income of $364 million, and with a market cap of $9.037 billion.
Topping the list of the “Best Over a Billion” list is SM Investments of the Sy family, with sales of $7.993 billion generating a net income of $704 million. Its market capitalization stands at $22.796 billion. Second on the list is San Miguel Food and Beverage, led by president, Ramon Ang, which had sales of $5.438 billion, net income of $346 million, and market cap of $11.861 billion.
Ranked at no. 4 is Ayala Corporation by the Zobel de Ayala family-led conglomerate with a sale of $5.220 billion, net income of $604 million, and a market cap of $11.171 billion.
Fifth among locally listed companies is GT Capital of the Ty family with sales of $3.794 billion, net income of $254 million, and a market cap of $3.743 billion. At number six on the list is Lucio Co’s Cosco Capital, a retailing powerhouse best known for the Puregold chain of supermarkets. The company enjoyed sales of $3.198 billion, with a net income of $105 million, and a market cap of $942 million.
Rounding out the list are fast-food giant Jollibee, which delivered sales worth $3.061 billion for a net income of $158 million, and a market cap of $4.829 billion; and property developer Megaworld, which just made the cut-off with sales of $1,022 billion. The Andrew Tan-led conglomerate earned a net income of $289 million, and had a market cap of $3.765 billion.
JG Summit has figured in two of Forbes’ lists so far this year. In May, it was one of six Philippine companies on the magazine’s Global 2000 list, an annual ranking of the world’s largest publicly listed firms. It ranked 1720th on that list, based on its 2018 revenue of $5.3 billion, $14.7 billion in assets, and net profit of $440 million.
