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Sy family dominates as SMIC, BDO top Philippine firms on Forbes Global 2000 list
Business
The Stock Market
Sy family dominates as SMIC, BDO top Philippine firms on Forbes Global 2000 list
Sy family dominates as SMIC, BDO top Philippine firms on Forbes Global 2000 list
Published Jun 13, 2025 10:13 am
The Sy family’s flagship SM Investments Corporation and its banking arm, BDO Unibank, led the seven Philippine companies that made it to Forbes Magazine’s 23rd Global 2000, which ranks the largest public companies in the world.
SMIC was ranked at No. 811 among the world’s top public corporations, followed by its subsidiary, BDO, at No. 846. Forbes said the firms were ranked using four metrics—sales, profits, assets, and market value.
Frederic C. DyBuncio, SMIC president and chief executive officer, said the achievement mirrors the resilience and evolution of the Philippine economy, fueled by strong fundamentals, dynamic local businesses and consumption, and the unwavering optimism of the Filipino people.
DyBuncio emphasized SMIC's dedication to inclusive growth and community support, aiming to be a catalyst for sustained progress. He affirmed that while rankings may fluctuate, SMIC's core mission remains to create meaningful impact and long-term value for its stakeholders.
The company is committed to collaborating with partners across various sectors to foster a more resilient, equitable, and future-ready Philippines, he added.
Third in the list and ranked at 1,116 is Top Frontier Investment Holdings Inc. of Ramon S. Ang and Iñigo Zobel which owns 61.78 percent of San Miguel Corporation.
The Ty family’s Metropolitan Bank & Trust Company is next at 1,317 followed by Pangilinan-led Manila Electric Company at 1.530, Ayala Corporation of the Zobels at 1,644, and International Container Terminal Services Inc. of Enrique K. Razon Jr. at 1,702.
In a statement, Ayala Corporation expressed pride in its inclusion, stating that the recognition inspires us to carry on with our mission to build businesses that help people thrive.
The conglomerate, coming off its strongest year yet in 2024, emphasized its continued focus on strengthening core businesses and nurturing emerging ventures to create greater stakeholder value and sustain growth.
Ayala Corporation also said it celebrated the collective inclusion of other Filipino companies, seeing it as a clear reflection of the growing global competitiveness of Philippine enterprises.
“We used the latest 12 months of financial data available to us as of April 25, 2025 to calculate the factors used in our ranking,” said Forbes.
The magazine said that, despite the geopolitical uncertainty and combativeness resulting from Donald Trump’s tariffs, all four metrics reached records this year.
The 2,000 companies on the 2025 list account for $52.9 trillion in annual revenue, $4.9 trillion in profit, $242.2 trillion in assets and $91.3 trillion in market cap.
Those figures for profit, market value and assets have all at least tripled in the last 20 years, with total sales up 140 percent in that span, demonstrating how much globalization has helped the world grow, including the United States.
America’s largest bank, JPMorgan, is ranked No. 1 for the third year in a row, leading 612 U.S.-based companies on the list. It has gained 30 percent in the past year and is the only company to rank in the top 20 worldwide in each of the four categories considered for the list.
Berkshire Hathaway remains at No. 2, followed by the Industrial and Commercial Bank of China, Saudi Aramco and Amazon, which make up the rest of the top five. Microsoft and the Industrial and Commercial Bank of China also remain entrenched members of the top 10, while Nvidia continues its fast rise up the rankings to 47th this year.
The United States leads with 612 companies on the list, China and Japan follow with 317 and 180 respectively, followed by India with 70 and the United Kingdom with 68.