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Sunday, July 14, 2024

Major Shakeup in Top 10 Largest Philippine Companies by Market Cap in H1 2024

The first half of 2024 witnessed a significant reshuffling among the top 10 largest Philippine companies by market capitalization. Despite fluctuations across the board, SM Investments managed to retain its position as the country’s most valuable company. However, it remains the only member of the “four-comma club,” with a market cap of P1.015 trillion, marking a 7% decrease year-to-date.

A notable mover was Manny Villar’s Golden MV Holdings, which soared to the second spot from fourth. Its market cap surged by an impressive 51%, reaching ₱820.606 billion. This mass housing and memorial park company is trading at a remarkable price-to-earnings ratio of 870 times, reflecting investor confidence.

SM Prime Holdings, another Sy family enterprise, experienced a decline, dropping to third place with a market cap of P817.282 billion, down 16% year-to-date. Meanwhile, International Container Terminal Services Inc. (ICTSI), owned by casino and infrastructure mogul Ricky Razon, climbed three places to fourth. Its market cap increased by 45% to P711.427 billion.

BDO Unibank, also part of the Sy family’s business empire, slipped from third to fifth place. Its market cap remained relatively stable at P675.461 billion. Bank of the Philippine Islands (BPI), under the Zobel family, saw a 22% increase in its market cap to P627.9 billion but fell one spot to sixth.

Other Zobel family enterprises also faced declines. Ayala Land moved down to seventh place with a market cap of P421.488 billion, an 18% decrease. Ayala Corp. dropped to ninth place, experiencing a 21% reduction in market cap to P361.146 billion.

Meralco, led by bilyonaryo Manny V. Pangilinan, rose to the eighth spot despite a 6% decrease over the last six months, holding a market cap of P412.455 billion. The biggest mover on the list was Metropolitan Bank & Trust Co. (Metrobank), which skyrocketed from 20th to 10th place. The Ty family’s bank saw its market cap balloon by 31% to P303.713 billion.

The dynamic changes in market capitalization among these companies highlight the volatile nature of the market and the strategic moves by these conglomerates to maintain or improve their standings. As we move into the second half of the year, it will be interesting to see how these companies adapt and respond to the ever-changing economic landscape. (bilyonaryo.com) ##

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