Six Philippine firms join Forbes' 2021 Global 2000

Six Philippine companies have made it into Forbes magazine’s latest Global 2000 list ranking, which consists of the world’s biggest, most powerful, and most valuable companies.

Based on the 19th annual list released by Forbes, the Philippine firms that landed on the list are the following:
• SM Investments Corp. (SMIC)
• BDO Unibank
• Top Frontier Investment Holdings Inc.
• Ayala Corp.
• LT Group Inc. (LTG)
• Metropolitan Bank & Trust Co.

According to Forbes, as the list's edition released last year offered a glimpse into the early economic implications of the COVID-19 pandemic, the latest Global 2000 shows the results of months of market turmoil and human loss. 

The ranking is based on the analysis of four equally weighted metrics: assets, market value, sales, and profits.

With the biggest market value among the Philippine firms in the list at $24.3 billion, and with assets at $25.5 billion and profits at $471.6 million., SMIC leads Philippine firms at 877th place in the said global ranking from the 1,092nd spot in 2019.

Meanwhile, dropping from 1,018 in 2019 to 1,159th this year is BDO Unibank. Of the Philippine firms included in the list, the Sy-led lender is the most profitable with $569.5 million and has the biggest asset base at $70.3 billion

Climbing to the 1,183rd spot from 1,196th in 2019, Top Frontier Holdings Inc., the biggest shareholder of San Miguel Corp., has the largest sales at $15.8 billion.

Ayala Corp. rose from the 1,236th to the 1,801st spot, while Metrobank dropped to the 1,929th from 1,639 in 2019.

Tycoon Lucio Tan’s LT Group also made it to the list, ranking at the 1,831st spot.

For the ninth consecutive year, the top-ranked company in the list is Industrial & Commercial Bank of China, followed by American banking giant JPMorgan Chase and Warren Buffett’s Berkshire Hathaway.

Regionally, the U.S. has the biggest number of companies on the list at 590, followed by China at 350. The other countries in the top five are Japan, the U.K., and South Korea with 215, 66, and 62 companies, respectively.

In total, the 2021 Global 2000 companies account for $39.8 trillion in revenues, $2.5 trillion in profits, $223.4 trillion in assets, and $79.7 trillion in market capitalization

For the full list, check out Forbes' 2021 Global 2000 here.