Forty Philippine firms made it to the 2025 Fortune Southeast Asia 500 with San Miguel Corp. (SMC) securing the 9th spot and the only Filipino company in the top 10 among the largest companies by revenue in the region, which is becoming a key engine of global economic growth and a vital hub for global supply chains.
Now in its second year, the Fortune Southeast Asia 500 list highlights the growing role of Southeast Asia — including Indonesia, Thailand, Malaysia, Singapore, Vietnam, Cambodia, and the Philippines.
The companies on this year’s list collectively generated $1.82 trillion in revenue for 2024, up from $1.79 trillion the year before, with the minimum revenue to qualify set at $349.4 million.
The second annual Fortune Southeast Asia 500 provides a snapshot of a region ready to take advantage of global supply chain shifts and booming industries like mining, electric vehicles, and AI. Together, the Southeast Asia 500 companies are playing an increasingly important role in global supply chains—capturing manufacturing capacity shifting from China, which is drawing significant capital flows and reshaping global trade dynamics. The top ten Southeast Asian companies are Trafigura Group, PTT, Pertamina, Wilmar International, Olam Group, Perusahaan Listrik Negara, DBS Group Holdings, CP All, San Miguel, and Flex.
SMC, one of Southeast Asia’s most diversified conglomerates, remained the only Philippine company in the top ten for two consecutive years. Its revenue was placed at USD27.499 billion and assets of USD10.138 billion.
“Being recognized once again by Fortune inspires us to keep raising the bar,” said SMC Chairman and CEO Ramon S. Ang. “This is a reflection not just of our financial performance, but of our commitment to nation-building and to supporting communities wherever we operate. Our real success is measured by the livelihoods we help sustain, the access we create, and the opportunities we open for Filipinos.”
SM Investments of the Sy Group finished second highest among Filipino companies in the list, ranking 25th with USD11.429 -billion revenue and total assets at USD29.305 billion. SM also ranked as the largest employer among the top largest Filipino firms in the list employing 141,366 individuals.
“We are grateful to be included once again in this year’s Southeast Asia Fortune 500, and to be recognized as one of the top-ranked Philippine companies. This reflects the continued efforts of our teams across the SM group, and the trust of the customers, communities, and partners we serve. It’s encouraging to see how businesses across the region, amid ongoing uncertainties, are contributing to Southeast Asia’s growth and vibrancy. At SM, we remain committed to enabling progress that is purposeful, inclusive, and sustainable,” SM Investments Corporation President and Chief Executive Officer Frederic C. DyBuncio said.
Other Philippine companies in the top 50 are Meralco at 35th with USD8.210 billion in revenue and assets of USD10.658 billion. Ayala group settled at 47th with revenues of USD6.459 billion, but with a huge assets worth USD30.171 billion. The Gokongwei group’s holding company JG Summit Holdings completed the top 50 with revenues of USD6.240 billion and assets worth USD17.980 billion.
The rest of Philippine companies in the 2025 Fortune 500 Southeast Asia are the following: BDO Unibank, GT Capital Holdings, Aboitiz Equity Ventures,Jollibee Foods,Cosco Capital, BPI, Alliance Global Group, PLDT, Metropolitan Bank & Trust, Robinsons Retail Holdings, Globe Telecom, PAL Holdings, Lopez Holdings,ICTSI. LT Group, China Banking, Unionbank, DMCI Holding, Filinvest Development, RCBC, Monde Nissin, Security Bank, Century Pacific Food, DigiPlus Interactive, Metro Pacific Investments, Synergy Grid & Development. Bloomberry Resorts, Basic Energy, D&L Industries,Converge ICT, Metro Retail Stores Group,Manila Water, Wilcon Depot, SSI Group, and Nickel Asia.
