Inside Asia's 200 best under a billion 2025 list
The annual list showcases businesses that remained resilient over the past year and, in many cases, thrived
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Last Updated: Sep 18, 2025, 15:06 IST1 min
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With trade tensions looming over the Asia-Pacific region, long considered the world’s economic engine, growth is predicted to continue to slow, according to the International Monetary Fund. Despite these challenges, our annual Best Under A Billion list—featuring 200 small and mid-sized publicly traded companies with sales above $10 million and below $1 billion—showcases businesses that remained resilient over the past year and, in many cases, thrived.
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The buoyant financial services sector propelled 18 companies onto the list, more than double from the eight that appeared last year. The beauty industry continues to shine, with 13 companies, mostly South Korean, making the cut this year. Other companies in the region have benefited from the gathering momentum in the segments in which they operate, such as renewable energy, electric vehicles and data centres. Eight firms reflecting these trends are highlighted with the list. In total, 69 companies returned to the 2025 list from the previous year, including India’s Triveni Turbine.
Reporting by Vaishalli Chandra, John Kang, Zinnia Lee, Phisanu Phromchanya, Ian Sayson, Catherine Wang and Yue Wang
Methodology
This list features companies with a track record of long-term sustainable performance across a variety of metrics. These 200 companies were selected from a universe of more than 19,000 publicly traded companies in the Asia-Pacific region with annual sales above $10 million and below $1 billion. The companies on this unranked list were selected based on a composite score using measures such as debt, sales and earnings-per-share growth over both the most recent fiscal one- and three-year periods, and the strongest one- and five-year average return on equity. Aside from quantitative criteria, qualitative screens were applied, such as excluding companies with serious governance issues, questionable accounting practices, environmental concerns, management problems or legal troubles in recent years. State-controlled entities and subsidiaries of larger companies were also excluded. The criteria sought to ensure a geographical diversity of companies from across the region. The list uses annual results based on the latest publicly available figures as of July 7. Stock prices on the same date were used to compute market valueFirst Published: Sep 18, 2025, 15:06
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