These Are the Philippines' Top Corporations by Revenue

San Miguel Corporation is the country’s top corporation by gross revenue for 2019, according to the annual ranking of the country’s Top 200 Corporations published by BusinessWorld newspaper. The company, led by Chairman and COO Ramon Ang, posted revenues of P1.07 trillion last year, less than a percentage point (.8 percent) higher than it earned in 2018. 

Since the ranking is based on annual gross revenues declared by the companies in their financial statements for 2019, it does not yet take into account the effects of the coronavirus pandemic this year.

According to Businessworld, the Top 200 corporations’ gross revenues reached P11.25 trillion last year, up 7.5 percent from the aggregate total the year before.

Holding company Top Frontier Investment Holdings Inc, SMC’s largest shareholder, came in second with gross revenues of P1.07 trillion, while another SMC company, Petron Corp., is at third with P520.61 billion. 

Number four in the ranking is SM Investments Corp, owned by the Sy family, with P506.3 billion in gross revenues, followed by Ayala Corp. at fifth place with P330.91 billion.


Sixth place is Meralco, seventh is SMC subsidiary San Miguel Food and Beverage Inc., eighth is Gokongwei family-owned JG Summit Holdings, ninth is GT Capital Holdings of the Ty family, and 10th is BDO Unibank Inc. 

Others in the Top 20 are Aboitiz Equity Ventures (No. 11), Andrew Tan’s Alliance Global Group (No. 13), Globe Telecom (No. 16), Ayala Land (No. 17), Robinsons Retail Holdings Inc., and Metro Pacific Investment Corp. (No. 20).

Other notable companies outside of the Top 20 are the Lopez family’s First Philippine Holdings Corp. (No. 25), and Lopez Holdings Corp. (No. 26), Lucio Tan’s (No. 21), Dennis Uy’s Udenna Corp (No. 30), and Phoenix Petroleum (No. 35) and the Gotianun family’s Filinvest Development Corp. (No. 40).

According to Businessworld, the rankings may still change as more financial statements for 2019 become available in the coming months.

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Paul John Caña
Associate Editor, Esquire Philippines
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