BusinessWorld Top 1000 Corporations in the Philippines
Business World Magazine's annual ranking of the Philippines' largest corporations, ranked by revenue, is known as the BusinessWorld Top 1000 Corporations in the Philippines. The list provides detailed information about each company, such as after-tax profits, assets, investors and shareholders' assets, and market value. Public companies with their corporate offices and incorporation in the Philippines are included in the top 1000. Meralco, Petron Corporation, Toyota Motor Philippines, Pilipinas Shell, Texas Instruments Philippines, Toshiba Information Equipment, Philippine Airlines, Mercury Drug, BDO Unibank, and Nestlé Philippines are among the Top 1000 Corporations in the Philippines.
According to the Philippine Star, the BusinessWorld Top 1000 firms’ performance in 2016 is reflective of the overall economic performance that year with gross domestic product growth of 6.9 percent being the fastest in three years as well as the second fastest among its Asian neighbors.[21]
The Top 1000 list has become vital to the research on performance of Philippine companies and domestic economy that the Business Expectations Survey[22] that is released on a quarterly basis by the Bangko Sentral ng Pilipinas is drawn from a pool of the Securities and Exchange Commission’s Top 7,000 Corporations in 2010, and Business World’s Top 1,000 Corporations in 2013. [23]
Additionally, the Conduct of the Corporate Financial Trends Survey (CFTS) by the Philippine Financial Stability Coordination Council (FSCC) also selected sample establishments/enterprises from the list of Top 1,000 Corporations released by the BusinessWorld. The FSCC consists of Bangko Sentral ng Pilipinas (BSP), Department of Finance (DOF), Insurance Commission (IC), Philippine Deposit Insurance Corporation (PDIC), and Securities and Exchange Commission (SEC).[24]
A study published in DLSU Business & Economics Review evaluated the Web presence of the top multinational manufacturing corporations in the Philippines from a sample of 70 Web sites of companies in BusinessWorld’s list of the Top 1000 Corporations in the Philippines for 2006. The websites were subjected to a framework of ten critical factors; and comparisons were made against existing benchmarks. Thereafter, the functionality of the Web sites of the three top-ranked companies was analyzed using a two-dimensional grid for Web site evaluation. Results indicate that there is a need for improvement in the design and quality of the Web sites of manufacturing firms in the Philippines.[25]
About one-third of the large establishments make it to the list of the Philippines’ Top 1000 Corporations, which is published annually by BusinessWorld and its predecessor, Business Day, in cooperation with the Securities and Exchange Commission (SEC). From 1970 to 2009, industrial sector has consistently dominated the list of Top 1000 corporations.[26]
During pandemic, the drop in gross income mirrored a drop in economic output following the outbreak of the coronavirus disease 2019 (COVID-19) pandemic. In actual terms, the Philippine economy fell by 9.6% in 2020 (-8.1 percent in current prices), the lowest result since the 1940s. Manila Electric Co. (Meralco) took the top rank in this year's edition with gross revenues of P266.055 billion, down 13.9 percent from P309.090 billion the previous year. San Miguel Corp. and SM Investments Corp.'s combined business units came in second and third, with gross earnings of P773.569 billion (-27.6%) and P396.751 billion (-21.7%), respectively. 370 international corporations made the list, accounting for 37.1 percent of the top 1000's total gross revenue this year. Its total revenue[27]
BusinessWorld researchers use a "tickmarking" guide in their methodology for the Top 1000 publication, which is a way for them to identify items considered as the net sales, cost of sales, debt, or inventory in the financial statements since such items would depend on the industry where companies belong.[28]
