Top 10 Biggest Companies in the Philippines (2018)

What’s the biggest company in the Philippines? Hint: It’s not PLDT; it’s not SM or BDO; it’s also not Ayala Corporation.

We’ll reveal the answer in a little while, but let’s first define what “biggest” means. A company’s size can be measured in terms of its Asset base or even its generated Revenues. We could also measure it by the number of employees or its market share in the industry.

To make this list objective, we’ll look at Market Capitalization as primary measure of a company’s size.

What is Market Capitalization?

Market capitalization or market cap is simply the market value of a company as measured by its stock price and total outstanding shares. To determine the market cap, we take the current traded price of a company’s stock and multiply it with the total number of shares outstanding.

The formula to compute Market Cap:

  • Stock Price x Number of Outstanding Shares of the Company

As seen in the formula above, the market cap is directly affected by two things:

(1) the stock price of a company; and

(2) the total shares issued and outstanding by the company.

There is a direct correlation between market value and these two factors, stock price and the number of shares outstanding. This means a company gets “bigger” when it issues more shares to the public and, at the same time, when its stock price goes higher.

Given the same formula, we can also see the weaknesses of “market capitalization” as measure of size. For one, companies that are not traded in the Philippine Stock Exchange (PSE) might not have a current and actual price for its shares, which could lead to undervaluation in market capitalization. At the same time, market cap simply measures the “equity” side of the company and ignores the “debt” side which also offers financing to a company.

Still, market capitalization provides a standard and objective way to measure companies. So let’s go back to our original question: Which companies are the largest companies in the Philippines in terms of market capitalization?

Largest Companies in the Philippines by Market Capitalization

Interestingly, the “biggest” company in the Philippines, as of February 2018, is actually not a local company, but a Canadian company: Manulife Financial Corporation (MFC). Its current market cap is P1.83 Trillion.

The company is headquartered in Canada and its stock is traded in various exchanges including the Toronto Stock Exchange (TSX), Hong Kong Stock Exchange (HKEx), New York Stock Exchange (NYSE) and the Philippine Stock Exchange (PSE).

The second largest Philippine company, and also the biggest Philippine-based company, is SM Investment Corp. (SM), the holding firm of the SM Group of Companies. SM’s market cap is P1.196 Trillion.

The third biggest company, in terms of market cap, is again not a local company but a Canadian insurance and investments company Sunlife Financial Inc. (SLF), with market cap of P1.148 Trillion.

The complete list of the 10 biggest companies in the Philippines is show below.

Top 10 Biggest Philippine Companies by Market Capitalization

StockCompanyMarket CapitalizationLast Traded PriceNo. of Shares
1MFCManulife Financial Corp.1,833,751,289,050925.001,982,433,826
2SMSM Investments Corp.1,196,150,786,931993.001,204,582,867
3SLFSun Life Financial Inc.1,147,780,895,640 1,880.00 610,521,753
4SMPHSM Prime Holdings, Inc.1,042,540,264,15336.1028,879,231,694
5BDOBDO Unibank, Inc.668,499,425,982153.004,369,277,294
6ALIAyala Land, Inc.664,095,134,86645.1014,724,947,558
7ACAyala Corp.646,037,895,360 1,040.00 621,190,284
8JGSJG Summit Holdings, Inc.533,631,703,44774.507,162,841,657
9BPIBank of the Philippine Islands467,561,756,767119.003,929,090,393
10AEVAboitiz Equity Ventures, Inc.422,534,441,77575.005,633,792,557

Here are the complete list of the Top 100 Largest Companies in the Philippines.

The Largest 100 Companies in the Philippines

StockCompanyMarket CapitalizationLast Traded PriceNo. of Shares
1MFCManulife Financial Corp.1,833,751,289,050925.001,982,433,826
2SMSM Investments Corp.1,196,150,786,931993.001,204,582,867
3SLFSun Life Financial Inc.1,147,780,895,640 1,880.00 610,521,753
4SMPHSM Prime Holdings, Inc.1,042,540,264,15336.1028,879,231,694
5BDOBDO Unibank, Inc.668,499,425,982153.004,369,277,294
6ALIAyala Land, Inc.664,095,134,86645.1014,724,947,558
7ACAyala Corp.646,037,895,360 1,040.00 621,190,284
8JGSJG Summit Holdings, Inc.533,631,703,44774.507,162,841,657
9BPIBank of the Philippine Islands467,561,756,767119.003,929,090,393
10AEVAboitiz Equity Ventures, Inc.422,534,441,77575.005,633,792,557
11MERManila Electric Company364,052,881,715323.001,127,098,705
12TELPhilippine Long Distance Telephone Company335,966,730,125 1,555.00 216,055,775
13SMCSan Miguel Corp.335,847,726,894141.202,378,524,978
14MBTMetropolitan Bank & Trust Company308,476,760,24297.003,180,172,786
15JFCJollibee Foods Corp.301,777,358,626278.001,085,530,067
16APAboitiz Power Corp.290,296,939,91139.457,358,604,307
17GTCAPGT Capital Holdings, Inc.250,375,690,500 1,300.00 192,596,685
18LTGLT Group, Inc.246,727,666,66922.8010,821,388,889
19GLOGlobe Telecom, Inc.239,249,853,000 1,800.00 132,916,585
20ICTInternational Container Terminal Services, Inc.223,761,501,260110.002,034,195,466
21SECBSecurity Bank Corp.186,274,812,866247.20753,538,887
22DMCDMCI Holdings, Inc.185,884,580,00014.0013,277,470,000
23MPIMetro Pacific Investments Corp.176,470,441,0115.6031,512,578,752
24MEGMegaworld Corp.157,973,284,7734.9032,239,445,872
25SCCSemirara Mining Corp.154,930,754,88836.404,256,339,420
26AGIAlliance Global Group, Inc.154,534,881,69015.1610,193,593,779
27BLOOMBloomberry Resorts Corp.151,823,694,94513.8011,001,717,025
28STRStarmalls, Inc.151,667,660,80818.008,425,981,156
29PGOLDPuregold Price Club, Inc.140,896,182,63650.952,765,381,406
30PALPAL Holdings, Inc.134,446,476,79811.5811,610,231,157
31RRHIRobinsons Retail Holdings, Inc.132,406,000,00095.601,385,000,000
32EMPEmperador Inc.120,669,286,5867.4516,197,219,676
33RLCRobinsons Land Corp.107,252,603,64520.655,193,830,685
34EDCEnergy Development Corp.104,927,256,0005.6018,737,010,000
35PFSan Miguel Pure Foods Company, Inc.104,666,936,288628.00166,667,096
36CHIBChina Banking Corp.97,363,868,18536.252,685,899,812
37SHLPHPilipinas Shell Petroleum Corp91,643,630,67456.801,613,444,202
38PCORPetron Corp.87,844,729,1379.379,375,104,497
39HVNGolden Haven Inc83,258,823,857168.50494,117,649
40SEVNPhilippine Seven Corp.83,206,011,130110.00756,418,283
41DNLD&L Industries, Inc.82,857,152,68411.607,142,857,990
42DDDoubleDragon Properties81,385,145,00036.502,229,730,000
43EAGLEEagle Cement Corp72,400,000,00014.485,000,000,000
44PNBPhilippine National Bank71,138,504,66256.951,249,139,678
45RCBRizal Commercial Banking Corp.67,546,060,96748.251,399,918,362
46FDCFilinvest Development Corp.65,555,349,4417.588,648,462,987
47HLCMHolcim Philippines, Inc.64,779,075,40610.046,452,099,144
48CEBCebu Air, Inc.61,807,239,660102.00605,953,330
49FGENFirst Gen Corp.58,192,856,10615.903,659,928,057
50MWCManila Water Company, Inc.56,278,117,22227.402,053,945,884
51RWMTravellers International Hotel Group, Inc.56,248,473,2153.5715,755,874,850
52COSCOCosco Capital, Inc.55,210,584,4807.507,361,411,264
53CNPFCebu Landmasters Inc54,267,401,67515.323,542,258,595
54MRPMelco Resorts And Entertainment Philippines Corp50,037,529,7148.835,666,764,407
55NIKLNickel Asia Corp.48,658,745,3066.407,602,928,954
56IMIIntegrated Micro-Electronics, Inc.45,232,781,58620.402,217,293,215
572GO2GO Group, Inc.44,275,068,84018.102,446,136,400
58FLIFilinvest Land, Inc.44,134,562,3011.8224,249,759,506
59EWEast West Banking Corp.41,924,541,90027.951,499,983,610
60MWIDEMegawide Construction Corp.39,563,683,69518.502,138,577,497
61PLCPremium Leisure Corp38,585,318,2001.2231,627,310,000
62BELBelle Corp.38,425,168,2773.6610,498,679,857
63HOUSE8990 Holdings, Inc.38,350,035,5046.955,517,990,720
64FPHFirst Philippine Holdings Corp.34,146,517,40861.75552,980,039
65ABAtok-Big Wedge Co., Inc.33,085,000,00013.002,545,000,000
66PXPhilex Mining Corp.31,569,150,0456.394,940,399,068
67MACMacroAsia Corp.31,292,437,20025.501,227,154,400
68AUBAsia United Bank Corp.28,973,039,11959.70485,310,538
69ABSABS-CBN Corp.27,012,934,32231.75850,801,081
70PIZZAShakey's Pizza Asia Ventures Inc25,052,412,42716.361,531,321,053
71LPZLopez Holdings Corp.24,855,971,9215.374,628,672,611
72ATIAsian Terminals, Inc.23,240,000,00011.622,000,000,000
73NOWNow Corp.23,214,358,75515.301,517,278,350
74MACAYMacay Holdings, Inc.22,115,739,71620.701,068,393,223
75CHPCEMEX Holdings Philippines21,093,305,5434.065,195,395,454
76DMPLDel Monte Pacific Limited20,878,130,65810.741,943,960,024
77SMC2CSan Miguel Corp.20,700,311,40081.00255,559,400
78PSBPhilippine Savings Bank20,685,739,47586.10240,252,491
79LBCLBC Express Holdings Inc20,675,049,33014.501,425,865,471
80GMA7GMA Network, Inc.20,670,439,0506.153,361,047,000
81MAXSMax's Group Inc19,045,677,06017.521,087,082,024
82PNXPhoenix Petroleum Philippines, Inc.18,151,904,78212.681,431,538,232
83ALHIAnchor Land Holdings, Inc.17,825,617,14017.141,040,001,000
84ANSA. Soriano Corp.17,475,000,0006.992,500,000,000
85ATAtlas Consolidated Mining and Development Corp.17,441,710,5934.903,559,532,774
86PSEThe Philippine Stock Exchange, Inc.17,391,154,089237.0073,380,397
87RFMRFM Corp.17,146,663,4234.903,499,319,066
88POPIPrime Orion Philippines, Inc.16,501,053,9673.374,896,455,183
89CLCChelsea Logistics Holdings Corp16,124,501,8938.851,821,977,615
90SHNGShang Properties, Inc.15,340,261,2443.224,764,056,287
91PFP2San Miguel Pure Foods Company, Inc.15,000,000,000 1,000.00 15,000,000
92PXPPhilex Petroleum Corp.14,994,000,0008.821,700,000,000
93STISTI Education Systems Holdings, Inc.14,659,114,2481.489,904,806,924
94GERIGlobal-Estate Resorts, Inc.14,501,520,0001.3210,986,000,000
95APLApollo Global Capital Inc14,310,195,7190.052275,196,071,520
96FGENGFirst Gen Corp.14,207,818,240112.00126,855,520
97ACPB2Acesite (Phils.) Hotel Corp.13,986,000,000518.0027,000,000
98FNIGlobal Ferronickel Holdings13,479,265,2262.475,457,192,399
99SMC2ISan Miguel Corp.13,208,005,20078.00169,333,400
100SMC2HSan Miguel Corp.12,759,200,00077.80164,000,000

Market Capitalization of Other Philippine Companies Traded in the PSE

StockCompanyMarket CapLast Traded PriceNo. of Shares
101ROCKRockwell Land Corp.12,233,524,3962.006,116,762,198
102PPCPryce Corp.12,045,775,0005.952,024,500,000
103MRSGIMetro Retail Stores Group Inc11,694,168,7503.413,429,375,000
104EEIEEI Corp.11,440,547,59411.041,036,281,485
105CHICebu Holdings, Incorporated11,136,427,0135.801,920,073,623
106DDPRDoubleDragon Properties10,380,000,000103.80100,000,000
107PIPPepsi-Cola Products Philippines, Inc.10,342,562,3812.803,693,772,279
108ABSPABS-CBN Corp.10,264,694,69531.55325,346,900
109IPOiPeople, inc.9,811,025,19513.10748,933,221
110SSISSI Group Inc9,540,070,3582.883,312,524,430
111SBSSBS Philippines Corp9,315,499,9946.011,549,999,999
112APXApex Mining Co., Inc.9,279,552,3621.496,227,887,491
113ELIEmpire East Land Holdings, Inc.9,246,005,4750.6314,676,199,167
114SLISta. Lucia Land, Inc.8,946,450,0001.008,946,450,000
115ANIAgriNurture, Inc.8,938,739,96512.94690,783,614
116DNAPhilab Holdings Corp8,682,182,2134.212,062,276,060
117PBBPhilippine Business Bank8,523,251,24513.24643,750,094
118ECPEasyCall Communications Philippines, Inc.8,385,000,00055.90150,000,000
119SPCSPC Power Corp.8,186,138,3625.471,496,551,803
120GSMIGinebra San Miguel, Inc.8,140,886,43829.00280,720,222
121ACRAlsons Consolidated Resources, Inc.8,116,035,0001.296,291,500,000
122BLFIBDO Leasing and Finance, Inc.7,936,284,3953.672,162,475,312
123CLICebu Landmasters Inc7,781,560,0004.541,714,000,000
124PHENPhinma Energy Corp7,530,253,3801.544,889,774,922
125MBCManila Broadcasting Company7,530,171,91318.70402,682,990
126PRF2APhilippine Racing Club, Inc.7,414,335,120 1,041.00 7,122,320
127COLCOL Financial Group, Inc.7,378,000,00015.50476,000,000
128GTPPBGT Capital Holdings, Inc.7,289,653,680 1,018.00 7,160,760
129EUROEuro-Med Laboratories Phil., Inc.7,196,245,9451.754,112,140,540
130SMC2BSan Miguel Corp.6,962,971,40077.0090,428,200
131FGENFFirst Gen Corp.6,819,513,064107.9063,202,160
132PRMXPrimex Corp.6,613,433,3273.981,661,666,665
133ROXRoxas Holdings, Inc.6,516,809,7144.211,547,935,799
134DAVINDa Vinci Capital Holdings, Inc.6,299,999,8265.601,124,999,969
135RCIRoxas and Company, Inc.5,934,547,0683.001,978,182,356
136LCLepanto Consolidated Mining Company A5,853,961,7720.14739,822,869,196
137SSPSFA Semicon Philippines Corp5,802,264,6172.682,165,024,111
138IPMIPM Holdings Inc5,733,900,0008.31690,000,000
139ABGAsiabest Group International Inc.5,550,000,00018.50300,000,000
140CATCentral Azucarera de Tarlac, Inc.5,396,490,31619.10282,538,760
141CPGCentury Properties Group, Inc.5,161,822,3070.44511,599,600,690
142SMC2GSan Miguel Corp.5,133,328,20077.0066,666,600
1438990P2GO Group, Inc.5,065,000,000101.3050,000,000
144CPMCentury Peak Metals Holdings Corp.4,907,374,9831.742,820,330,450
145GMAPGMA Network, Inc.4,731,797,8476.09776,978,300
146MJCManila Jockey Club, Inc.4,681,958,0444.70996,161,286
147LRLeisure & Resorts World Corp.4,619,432,1713.851,199,852,512
148ALCOArthaland Corp.4,573,561,8710.865,318,095,199
149HIHouse of Investments, Inc.4,447,491,9437.22615,996,114
150LOTOPacific Online Systems Corp.4,362,751,25510.06433,673,087
151CDCCityland Development Corp.4,292,489,4341.093,938,063,701
152MWPMegawide Construction Corp.4,220,000,000105.5040,000,000
153ARAAraneta Properties, Inc.4,195,483,2762.151,951,387,570
154LCBLepanto Consolidated Mining Company B4,062,592,0020.15326,552,888,901
155NRCPNational Reinsurance Corp. of the Philippines3,588,893,4641.692,123,605,600
156PAXPaxys, Inc.3,422,633,9012.981,148,534,866
157APCAPC Group, Inc.3,376,891,7990.457,504,203,997
158CYBRCyber Bay Corp.3,369,405,0320.4956,806,878,853
159CEICrown Equities, Inc.3,277,599,9900.24113,599,999,960
160CEUCentro Escolar University3,240,005,2808.70372,414,400
161APOAnglo Philippine Holdings Corp.3,123,434,6401.043,003,302,538
162SGISolid Group, Inc.2,932,682,6201.611,821,542,000
163BKRBright Kindle2,873,531,1201.881,528,474,000
164MRCMRC Allied, Inc.2,809,177,4620.338,512,658,975
165MARCMarcventures Holdings, Inc.2,766,132,8991.501,844,088,599
166DFNNDFNN, Inc.2,710,577,0678.35324,620,008
167PERCPetroEnergy Resources Corp.2,695,694,1314.74568,711,842
168RLTPhilippine Realty and Holdings Corp.2,559,608,9520.524,922,324,907
169ATNATN Holdings, Inc.2,479,000,0000.673,700,000,000
170OREOriental Peninsula Resources Group, Inc.2,475,510,0040.862,878,500,005
171BRNA Brown Company, Inc.2,353,784,5150.952,477,667,911
172PHNPhinma Corp.2,279,010,1208.00284,876,265
173ALCPBArthaland Corp.2,160,000,000108.0020,000,000
174OVThe Philodrill Corp.2,110,556,8590.011191,868,805,358
175LIHCLodestar Investment Holdings Corp.2,100,000,0000.73,000,000,000
176MVCMabuhay Vinyl Corp.2,050,059,1343.10661,309,398
177IDCItalpinas Development Corp1,994,036,5606.20321,618,800
178IONIonics, Inc.1,925,401,2822.30837,130,992
179IMPImperial Resources, Inc.1,924,875,0002.95652,500,000
180SUNSuntrust Home Developers, Inc.1,890,000,0000.842,250,000,000
181MBManila Bulletin Publishing Corp.1,802,392,3170.523,466,139,072
182LRPLeisure & Resorts World Corp.1,716,000,0001.041,650,000,000
183CIPChemical Industries of the Philippines, Inc.1,655,693,441160.8010,296,601
184ISMISM Communications Corp.1,643,716,0781.531,074,324,234
185PAPacifica, Inc.1,600,000,0000.0440,000,000,000
186DWCDiscovery World Corp.1,590,040,0002.54626,000,000
187FMETFFilinvest Land, Inc.1,551,669,000129.5011,982,000
188FOODAlliance Select Foods International, Inc.1,524,824,6020.612,499,712,463
189LANDCity & Land Developers, Incorporated1,467,499,5181.131,298,672,140
190OPMOriental Petroleum and Minerals Corp.1,440,000,0000.012120,000,000,000
191H2OH2O Ventures Inc1,435,124,8745.90243,241,504
192MAManila Mining Corp.1,433,323,9950.0092155,796,086,372
193JOHJolliville Holdings Corp.1,407,500,0005.00281,500,000
194NINiHAO Mineral Resources International, Inc.1,383,700,0001.371,010,000,000
195FJPF & J Prince Holdings Corp.1,334,302,1384.56292,610,118
196TBGITranspacific Broadband Group Int`l. Inc.1,263,014,7210.572,215,815,300
197CROWNCrown Asia Chemicals Corp1,261,600,0002.00630,800,000
198KEPKeppel Philippines Properties, Inc.1,260,525,9814.29293,828,900
199COALCoal Asia Holdings Incorporated1,260,000,0010.3154,000,000,004
200CAConcrete Aggregates Corp.1,239,666,84256.1522,077,771
201AGFAG Finance, Inc.1,021,113,6083.90261,824,002
202II-Remit, Inc.1,003,088,1601.64611,639,122
203OPMBOriental Petroleum and Minerals Corp.960,000,0000.01280,000,000,000
204TTKC Metals Corp958,800,0001.02940,000,000
205IRCIRC Properties, Inc.942,250,9140.711,327,113,964
206ABAAbaCore Capital Holdings, Inc.939,850,5390.2953,185,934,029
207PNX3BPhoenix Petroleum Philippines, Inc.855,000,000114.007,500,000
208PRIMPrime Media Holdings, Inc.840,358,3391.20700,298,616
209FAFFirst Abacus Financial Holdings Corp.811,376,0000.681,193,200,000
210BHIBoulevard Holdings, Inc.804,000,0000.06712,000,000,000
211LMGLMG Chemicals Corp.801,272,8894.14193,544,176
212PMPCPanasonic Manufacturing Philippines Corp.743,024,4998.7784,723,432
213BMMBogo Medellin Milling Company, Inc.720,000,000120.006,000,000
214PHAPremiere Horizon Alliance Corp.696,668,3110.351,990,480,889
215EVEREver-Gotesco Resources and Holdings, Inc.690,000,0000.1385,000,000,000
216GEOGEOGRACE Resources Philippines, Inc.686,000,0000.1963,500,000,000
217SOCSouth China Resources, Inc.685,459,6320.76901,920,568
218ISIsland Information & Technology, Inc.674,233,3190.1384,885,748,685
219BCBenguet Corp.667,331,9301.80370,739,961
220MFINMakati Finance Corp.625,554,4432.80223,412,301
221JASJackstones Inc601,537,1583.59167,559,097
222DIZDizon Copper-Silver Mines, Inc.584,456,5297.3979,087,487
223LSCLorenzo Shipping Corp.571,281,5191.03554,642,251
224BSCBasic Energy Corp.555,922,1420.2152,585,684,382
225ATNBATN Holdings, Inc. B536,000,0000.67800,000,000
226PPGPhinma Petroleum And Geothermal Inc510,000,0002.04250,000,000
227MGMillennium Global Holdings, Inc.480,000,0000.1922,500,000,000
228ARAbra Mining and Industrial Corp.478,307,0020.0024199,294,584,200
229OMOmico Corp.462,203,1360.441,050,461,673
230ACEAcesite (Phils.) Hotel Corp.455,066,7261.32344,747,520
231PHESPhilippine Estates Corp.440,892,6980.3051,445,549,830
232FFIFilipino Fund, Inc.428,931,2448.5550,167,397
233SPMSeafront Resources Corp.417,280,0002.56163,000,000
234BCBBenguet Corp.414,102,7651.69245,031,222
235MEDMEDCO Holdings, Inc.392,000,0000.56700,000,000
236SFISwift Foods, Inc.239,503,8980.1321,814,423,473
237DMPA1DMCI Holdings, Inc.204,000,00010.2020,000,000
238KPHBKeppel Philippines Holdings, Inc. B116,404,0965.3821,636,449
239SFIPSwift Foods, Inc.95,618,2731.9549,035,012

View here the latest and updated Market Capitalization of Philippine companies:

* Market cap values based on last traded stock price on February 14, 2018.

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The Philippines’ new tax reform bill, known as TRAIN or Tax Reform for Acceleration and Inclusion, was signed into law on December 19, 2017 and its implementation began on January 1, 2018. What are the new income tax rates under the TRAIN law? How will TRAIN affect income taxes of individuals and corporations? How is the ... Read more

PSE Stocks Performance under each Philippine President (1987-2021)

Did you know that Philippine stocks were able to achieve an astounding growth of 800% in a span of 30 years? From 1987 until 2018, the Philippine Stock Exchange index (PSEi) rose from 1,000 points to a peak of 9,000 points — generating a return of 800% over 30 years. (The PSEi is an index ... Read more

SSL 2022: Salary Increases for Teachers, Nurses, Gov’t Employees

Good news to all government employees! There’s a new round of salary increases beginning January 1, 2022! Millions of employees of the Philippine government — including public school teachers, nurses and staff of government hospitals, and workers in local and national government agencies, etc. — will be getting an automatic salary adjustment this 2022 under ... Read more

PSE Trading Hours in 2022: What time open, when closed?

Before you take the plunge into stock trading and investing, make sure you understand what stocks are and how the Philippine Stock Exchange (PSE) operates. Unlike other investments that are relatively safe, stock trading is risky and loss of money is a possibility. So before you deep dive into the exciting world of stock trading, ... Read more

Price Floor and Price Ceiling of PSE Stocks

Trading bands in the PSE come in two forms: Price Ceiling, or the upper price limit, and Price Floor, or the lower price limit.

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