By The Numbers: Asia's Fab 50

Economies around Asia bounced back last year, and so did many of our Fabulous 50 companies, our annual compilation of the best big public companies in the Asia-Pacific region. Earnings, revenues and stock prices soared almost across the board after a rocky time the previous year. China's Dongfang Electric, for example, saw net profits jump 256% last year.

But not every company bounced back enough to make our list again. This is the sixth year of the Fab 50, and it took a severe toll on some of our perennials. Now only two boast an uninterrupted string: Hong Kong's Li & Fung ( LFUGF - news - people ) and India's Infosys Technologies ( INFY - news - people ).

Five companies saw their streaks end: Australia's BHP Billiton ( BBL - news - people ), Brambles and Woolworths, India's Wipro ( WIT - news - people ) and--perhaps most notably--Taiwan's Hon Hai Precision Industry. The contract manufacturer, also known as Foxconn, burgeoned with business from Apple ( AAPL - news - people ) and other electronics makers, only to stumble on labor issues, including employee suicides at its huge factories in southern China.

Any list based on growth-oriented performance is going to lean toward newer and smaller companies. The law of big numbers works against giant ones. But not always: Australian conglomerate Wesfarmers ( WFAFF.PK - news - people ) returns after a four-year absence, and it's the biggest company among the 50, with $43 billion in sales in its last fiscal year. Australian miner Rio Tinto ( RTP - news - people ) had $42 billion in sales.

India and China accounted for no fewer than 32 of the companies, half each. When we compiled our first list in 2005, only five Chinese and three Indian outfits made the cut. For the second year in a row we have no representatives from Malaysia or the Philippines. Eighteen companies are making their first appearance, and we profile some of them here. One is Thai coal miner Banpu; its secret is to do smart deals abroad.

From this year's list of Asia's Fab 50 companies, we highlight two companies from India that are leaders in their industry: Axis Bank, India's third-largest non-state-owned bank, and ITC,led by Y.C Deveshwar, who is determined to give ITC a life beyond tobacco.

We also highlight two companies from China--Digital China Holdings, which earned a spot on our Fab 50 for the second year in a row, and China Mengnui Dairy, one of the top 20 dairy companies in the world on turnover.

In terms of industry, technology companies once again dominated our list this year with 10 representatives. The materials industry has the second most representatives with eight companies. For the first time on our Fab 50 list, the oil & gas and telecommunications industries both went unrepresented.

How do companies pass muster? We started with 936 that had at least $3 billion in revenue or market capitalization. We looked at the five-year record for revenue, operating earnings and return on capital. Then we checked the most recent results, share-price movements and the outlook. Judgment calls must be made, given the differences in transparency, accounting and conditions among countries. It's a valuable exercise that calls attention to great management and entrepreneurial skill.