Eighteen Australian companies have made Forbes Asia’s Best Under a Billion list, which highlights 200 Asia-Pacific public companies with less than $1 billion in revenue and consistent top-and-bottom-line growth.
Forbes Asia’s full Best Under a Billion list was dotted with 21 food and beverage companies and nine beauty companies, thanks to increased tourism and middle class consumer spending, as well as 54 returnees from the previous year. Easing supply constraints saw a decline in the number of semiconductor firms on the list. Forbes’ research noted that strong domestic demand and an uptick in infrastructure spending fuelled the region’s overall growth.
In Australia, Richard White’s WiseTech Global and Australian med-tech darling Pro Medicus made the cut of the top 200 companies with revenue under $1 billion in the Asia-Pacific this year, with revenue of US$549 million and US$84 million respectively. Alongside them were construction business Acrow, student placement organisation IDP Education and financial adviser firm Netwealth.
See the 18 Australian companies on Forbes Asia’s Best Under a Billion list:
| NAME | SALES ($USD) | NET INCOME ($USD) | MARKET VALUE ($USD) |
| Acrow | $113M | $16M | $229M |
| Amotiv | $697M | $66M | $1.01B |
| CAR Group | $525M | $434M | $875M |
| Cosol | $51M | $5M | $137M |
| HiTech Group Australia | $50M | $4M | $53M |
| IDP Education | $658M | $100M | $2.93B |
| IPD Group | $153M | $11M | $302M |
| LaserBond | $26M | $3M | $54M |
| Lycopodium | $218M | $31M | $320M |
| Netwealth Group | $139M | $45M | $3.42B |
| Objective Corp | $74M | $14M | $794M |
| Pro Medicus | $84M | $41M | $8.45B |
| PWR Holdings | $79M | $14M | $825M |
| Smartgroup | $167M | $41M | $725M |
| Supply Network | $170M | $18M | $645M |
| Vita Life Sciences | $49M | $6M | $84M |
| Wisetech Global | $549M | $143M | $21.24B |
| XRF Scientific | $37M | $5M | $124M |
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