This article explores the financial performance and fiscal impact of government-owned and controlled corporations (GOCC) in the Philippines, which play a critical role in delivering public services and supporting economic development. Operating across diverse sectors, GOCCs receive financial support from the national government through subsidies, equity infusions, and net lending, while also remitting dividends and other revenues to the treasury. However, their financial position in 2023 showed a net outflow, raising concerns about fiscal sustainability. This Note also examines the financial landscape of GOCCs, and evaluates key financial ratios, including asset growth, liabilities, revenue generation, and expenditure patterns.