December 2019 Vol. XII, No. 4 Top 50 Companies - Net Income Page 1 Net Income2 2019 vs. Revenues Stockholders' Rank Rank Company Assets Liabilities ROA ROE4 EPS BV Company1 Sector 2019 2018 2019 Equity3 2019 2018 Code (%) (%) (in PHP) (in PHP) (in mil PHP) % change (in mil PHP) (in million pesos) 1 1 SM Investments Corporation SM Hldg 44,568.24 20.20 506,295.01 1,144,164.57 608,013.09 536,151.48 3.90 11.65 37.00 317.64 2 2 BDO Unibank, Inc. BDO Fin'l 44,194.00 35.12 221,193.00 3,188,858.00 2,818,271.00 370,587.00 1.39 11.98 10.09 84.21 3 3 SM Prime Holdings, Inc. SMPH Prop 38,085.60 18.38 120,057.90 667,279.67 364,763.40 302,516.27 5.71 12.66 1.32 10.42 4 4 Ayala Corporation AC Hldg 35,279.33 10.88 330,905.56 1,345,285.96 835,972.40 509,313.56 2.62 10.73 56.30 524.69 5 5 Ayala Land, Inc. ALI Prop 33,188.40 13.50 168,793.71 713,923.28 471,217.71 242,705.57 4.65 15.73 2.25 14.34 6 12 JG Summit Holdings, Inc. JGS Hldg 31,285.25 63.06 307,596.29 928,309.52 519,662.38 408,647.14 3.37 10.26 4.37 42.55 7 6 Bank of the Philippine Islands BPI Fin'l 28,803.00 24.81 129,972.00 2,205,030.00 1,931,996.00 273,034.00 1.31 10.68 6.39 59.81 8 10 Metropolitan Bank & Trust Company MBT Fin'l 28,055.00 27.48 146,105.00 2,450,813.00 2,132,322.00 318,491.00 1.14 9.06 6.24 68.83 9 20 Metro Pacific Investments Corporation MPI Hldg 23,856.00 68.83 129,789.00 611,778.00 365,733.00 246,045.00 3.90 12.49 0.76 6.05 10 8 Manila Electric Company MER Ind'l 23,285.00 1.16 322,593.00 357,019.00 271,778.00 85,241.00 6.52 27.64 20.66 74.73 11 16 LT Group, Inc. LTG Hldg 23,117.52 42.75 114,248.63 1,265,830.55 1,011,822.98 254,007.57 1.83 12.37 2.14 17.27 12 13 PLDT Inc. TEL Svcs 22,521.00 19.06 169,187.00 525,027.00 408,737.00 116,290.00 4.29 20.11 104.24 518.32 13 14 Globe Telecom, Inc. GLO Svcs 22,269.34 19.47 168,250.79 304,290.74 223,043.74 81,247.00 7.32 27.45 167.18 608.91 14 9 Aboitiz Equity Ventures, Inc. AEV Hldg 22,036.13 (0.89) 219,751.63 588,386.10 371,191.02 217,195.08 3.75 12.49 3.91 31.33 15 7 San Miguel Corporation SMC Hldg 21,329.00 (7.57) 1,038,130.00 1,817,734.00 1,243,339.00 574,395.00 1.17 6.42 8.97 139.77 16 21 GT Capital Holdings, Inc. GTCAP Hldg 20,309.00 54.37 222,940.00 357,654.00 168,334.00 189,320.00 5.68 11.44 94.34 824.35 17 15 San Miguel Food and Beverage, Inc. FB Ind'l 18,278.00 0.18 312,472.00 265,967.00 122,786.00 143,181.00 6.87 19.22 3.09 16.09 18 17 Megaworld Corporation MEG Prop 17,931.42 17.91 67,371.57 349,633.07 144,767.55 204,865.52 5.13 10.05 0.56 5.54 19 18 Alliance Global Group, Inc. AGI Hldg 17,721.52 17.25 179,989.01 644,476.33 347,359.53 297,116.80 2.75 9.88 1.80 18.26 20 11 Aboitiz Power Corporation AP Ind'l 17,322.68 (20.20) 134,224.21 410,469.36 276,826.35 133,643.01 4.22 13.80 2.35 17.06 21 23 First Gen Corporation FGEN Ind'l 15,342.65 31.67 114,888.34 264,360.86 132,857.84 131,503.03 5.80 14.23 4.25 29.87 22 36 Union Bank of the Philippines UBP Fin'l 14,026.13 104.00 52,700.19 770,787.54 672,770.57 98,016.97 1.82 14.39 11.52 80.07 23 25 First Philippine Holdings Corporation FPH Ind'l 12,583.00 22.39 140,721.00 372,330.00 193,232.00 179,098.00 3.38 12.03 24.72 205.52 24 27 Filinvest Development Corporation FDC Hldg 11,970.30 22.54 84,317.31 642,154.88 510,004.89 132,149.99 1.86 11.91 1.38 11.62 25 42 Cosco Capital, Inc. COSCO Hldg 11,597.38 115.51 176,316.08 154,449.89 52,389.11 102,060.78 7.51 16.61 1.60 9.64 26 26 Vista Land & Lifescapes, Inc. VLL Prop 11,266.16 10.04 44,406.15 272,538.64 172,585.97 99,952.67 4.13 11.54 0.89 7.69 27 19 DMCI Holdings, Inc. DMC Hldg 10,533.13 (27.42) 91,978.18 200,787.00 97,948.93 102,838.07 5.25 12.78 0.79 6.21 28 30 Security Bank Corporation SECB Fin'l 10,101.73 17.34 51,308.59 793,006.51 674,720.29 118,286.23 1.27 8.54 13.41 156.97 29 33 China Banking Corporation CHIB Fin'l 10,068.96 24.15 56,115.60 962,225.98 866,050.39 96,175.59 1.05 10.47 3.75 35.80 30 34 Bloomberry Resorts Corporation BLOOM Svcs 9,955.06 38.49 46,628.26 132,694.03 88,663.31 44,030.72 7.50 22.59 0.91 4.01 31 29 Universal Robina Corporation URC Ind'l 9,772.12 6.17 134,502.14 168,652.99 73,468.49 95,184.50 5.79 10.86 4.43 40.81 32 28 Philippine National Bank PNB Fin'l 9,681.48 2.29 61,262.72 1,142,290.61 987,315.21 154,975.40 0.85 6.37 6.35 99.68 33 22 Semirara Mining and Power Corporation SCC Min&Oil 9,678.79 (19.51) 44,721.29 72,209.12 27,973.22 44,235.90 13.40 21.88 2.28 10.41 34 35 Top Frontier Investment Holdings, Inc. TFHI Hldg 9,604.00 37.20 1,037,825.00 1,931,177.00 1,329,117.00 602,060.00 0.50 5.91 28.85 487.97 35 49 Cebu Air, Inc. CEB Svcs 9,122.95 132.57 85,818.94 157,732.57 112,831.60 44,900.98 5.78 20.32 15.18 74.72 36 46 DoubleDragon Properties Corp. DD Prop 8,831.97 91.77 20,203.71 113,546.60 69,627.82 43,918.78 7.78 29.12 3.73 12.81 37 31 Robinsons Land Corporation RLC Prop 8,686.23 5.72 30,872.83 189,651.21 89,573.54 100,077.67 4.58 8.73 1.67 19.16 38 40 Puregold Price Club, Inc. PGOLD Svcs 6,772.79 9.25 158,017.84 108,634.80 46,735.45 61,899.35 6.23 10.94 2.35 21.46 39 37 Emperador Inc. EMP Ind'l 6,725.54 1.01 51,565.48 125,986.00 61,269.24 64,716.76 5.34 10.54 0.43 4.05 40 32 Jollibee Foods Corporation JFC Ind'l 6,432.43 (21.68) 189,177.60 187,276.01 134,994.13 52,281.88 3.43 12.23 5.86 47.94 41 41 Filinvest Land, Inc. FLI Prop 6,283.63 6.60 25,673.31 173,696.43 101,532.14 72,164.29 3.62 8.73 0.26 2.97 42 47 East West Banking Corporation EW Fin'l 6,241.94 38.46 37,188.66 406,324.29 357,256.96 49,067.33 1.54 12.72 2.77 21.81 43 45 Eagle Cement Corporation EAGLE Ind'l 6,014.90 25.35 20,768.21 49,055.44 11,724.48 37,330.96 12.26 16.11 1.20 7.47 44 44 Pilipinas Shell Petroleum Corporation SHLPH Ind'l 5,621.16 10.73 219,303.10 102,919.47 63,091.15 39,828.31 5.46 14.11 3.48 24.69 45 38 Manila Water Company, Inc. MWC Ind'l 5,495.51 (15.76) 34,477.49 134,601.64 78,610.43 55,991.21 4.08 10.04 2.66 26.50 46 48 Rizal Commercial Banking Corporation RCB Fin'l 5,387.00 24.70 51,068.00 767,079.00 684,229.00 82,850.00 0.70 6.50 2.78 42.79 47 24 International Container Terminal Services, Inc. ICT Svcs 5,198.69 (52.43) 86,347.34 291,822.53 208,880.12 82,942.40 1.78 6.97 2.60 37.28 48 50 Asia United Bank Corporation AUB Fin'l 4,446.77 34.21 16,628.80 265,994.17 232,835.08 33,159.09 1.67 13.47 9.16 68.03 49 43 Robinsons Retail Holdings, Inc.