Top 5 'under-billion' list of Philippine companies on Forbes
Forbes lists gold miner, pizza maker, fibre broadband provider, resort and bank
Manila: Five Philippine firms have earned a spot on Forbes Asia’s prestigious “Best Under a Billion” list for 2025.
The list highlights the region’s top-performing publicly listed companies with annual sales between $10 million and $1 billion.
The recognition showcases Philippine excellence across industries — from technology and mining to food and banking.
Amidst Asia’s most competitive landscape, here's the Top 5 that made it to the Forbes U1B list:
#1. Converge ICT Solutions Inc.
CEO: Dennis Anthony Uy (co-founder and CEO, together with President and COO Grace Uy)
Why listed: Converge is the Philippines’ leading pure fiber broadband provider, reporting $709 million in sales and $189 million net income. From its base in Angeles City, it now serves 2.7 million customers across over 710,000 km of fiber optic lines nationwide.
The company’s rapid expansion, profitability, and digital infrastructure investments propelled its inclusion on the list.
Background: Founded in 2007, Converge has transformed Philippine internet connectivity, rapidly scaling up during the pandemic and outperforming older telcos in the fixed broadband space.
#2. Apex Mining Co., Inc.
CEO: Luis Rodrigo Jr.
Why listed: One of Mindanao’s leading mineral producers, Apex delivered $254 million in sales and $76 million net profit. Backed by tycoon Enrique Razon Jr., Apex is recognised for robust output from its gold mines, long project lifespans, and successful expansion into oil, gas, and environmental management.
Background: With operations projected to 2034, Apex’s success story showcases the resurgence of Philippine mining and responsible resource management.
3. A. Soriano Corporation (Anscor)
CEO: Andres Soriano III
Why listed: The 90-year-old investment holding company posted $226 million in revenue and $82 million in profit. Anscor’s diverse portfolio — including cables (Phelps Dodge), resorts (Amanpulo), and other investments — demonstrates steady growth and prudent management.
Background: Founded in the 1930s, Anscor’s ability to generate value across multiple sectors exemplifies enduring business leadership in the Philippines.
#4. Philippine Bank of Communications (PBCom)
CEO: Patricia May Siy
Why listed: Majority-owned by retail magnate Lucio Co’s group, PBCom booked $39 million earnings on $195 million in revenue. The bank’s P7.7-billion bond issuance in 2024 and consistent expansion in lending activities illustrate strong governance and adaptability.
Background: PBCom is a legacy financial institution supporting Philippine industry since 1939, now embracing digital banking and expansion into new markets.
5. Figaro Coffee Group
CEO: Justin Liu
Why listed: The group recorded $97 million in revenue and $11 million in profit. With 156 Angel’s Pizza branches and 61 Figaro Coffee outposts, Figaro blends local entrepreneurship with nationwide reach. Its robust financials and steady expansion secured its spot on the Forbes tally.
Background: Owned by Jerry Liu’s LiuGong Group, Figaro started as a single coffee shop in 1993 and is now a major player in food and beverage retail.
What is Forbes Asia’s ‘Best Under a Billion’ list?
Since 2002, Forbes Asia has spotlighted 200 small and mid-sized companies in the Asia-Pacific region, selected from over 19,000 eligible firms.
Selection is based on solid revenue, earnings-per-share growth over one and three years, returns on equity, and manageable debt levels.
The list aims to capture companies showing resilience, innovation, and outstanding performance in challenging markets.
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