Philippines' Growth Champions 2023
In partnership with the Philippine Daily Inquirer, Statista identified The Philippines’ fastest-growing companies. The list ranks the 25 Filipino companies with the strongest revenue growth between 2018 and 2021.
List of Philippines' Growth Champions 2023
The Philippines’ Growth Champions 2023 is a list of the Top 25 companies based in the Philippines that have achieved the highest growth rate in revenues between 2018 and 2021. The high-profile list compiled by Statista and the Philippine Daily Inquirer is a visible and public acknowledgement of fast-growing companies in the Philippines, which is published online.*
*Due to a technical error, Penbrothers were not included in the original ranking. Their rightful rank would have been fourth, which has been amended in the latest version of the ranking.
Minimum CAGR to be included
Calculation of growth rates
The calculation of company growth rates is based on the revenue figures submitted by the companies in the respective currency.
The compound annual growth rate (CAGR) was calculated as follows:
The project was advertised online and in print, allowing all eligible companies to register via the websites created by Statista and the Philippine Daily Inquirer. In addition, through research in company databases and other public sources Statista has identified hundres of companies in the Philippines as potential candidates for the growth ranking. These companies were invited to participate in the competition by email, Linkedin and telephone.
The application phase ran from 15th September 2022 to 30th January 2023. The submitted revenue figures had to be certified by the CFO, CEO or a member of the Executive Committee of the company.
- Revenue of at least ₱5,000,000 generated in 2018
- Revenue of at least ₱50,000,000 generated in 2021
- The company is independent (acts largely independently in its business decisions and does not receive significant sales from parent or related companies)
- The company is headquartered in the Philippines
- The revenue growth between 2018 and 2021 was primarily organic (i.e. “internally” stimulated)
The list ranks entrants from the Philippines by their compound annual growth rate (CAGR) in revenue between 2018 and 2021. The fiscal years that predominantly falls into 2018 and 2021 were used for this calculation.
All data reported by the companies was processed and checked by Statista. Missing data entries (employee numbers, address data, etc.) were researched in detail. Companies that did not fulfill the criteria for inclusion in the ranking were deleted.
For more than 30 years, the Inquirer has been at the forefront of setting the agenda by chronicling everyday events with much ardour and enthusiasm. These same virtues propelled the Inquirer to greater heights and elevated discussions on pressing issues in the society to a whole new level. With an end in mind to spark change in the society, it ask questions nobody else would ask, which leads to call for action. Through this, Inquirer aims to inspire every Filipino people to become its own leader.
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