The list of the world's most profitable companies offers a glimpse of which countries wield the most economic power and the sectors with the most economic influence. The world's largest two economies by far, the U.S. and China, are headquarters for all but one of the 10 most profitable companies. Equally important, half of the companies on the list are financial service firms while the rest consist of technology and energy firms.
Only companies listed on U.S. exchanges, either directly or through ADRs, and OTC, are included in this list. Notably, the three most profitable companies in the world are technology firms. All technology firms in the top 10 are from the U.S.
Four out of the five companies on the list are based in China, most of them receiving major financial support from China's central government.
These are the 10 most profitable companies by 12-month trailing(TTM)net income. Data is courtesy of TradingView. All financial information is as of June 30, 2023, unless otherwise stated. All market caps and one-year trailing returns are as of Oct. 16, 2023.
Key Takeaways
- The three most profitable companies in the world are technology firms.
- Half of the top 10 most profitable companies are in the financial services industry.
- ExxonMobil and Shell are the two oil and gas producers among the most profitable companies.
- Half of the companies on this list are headquartered in the United States, with four companies having their headquarters in China.
- Apple was the most profitable company thus far in 2023, yielding just under $100 billion of net income.
#1 Apple Inc.(AAPL)
- Net Income (TTM): $94.76 billion
- Revenue (TTM): $383.93 billion
- Market Cap: $2.79 trillion
- 1-Year TrailingTotal Return: 23.84%
- Exchange: NASDAQ
Apple designs and manufactures mobile communication and media devices, personal computers, and portable digital music players. The company also sells a range of related software, services, accessories, networking solutions, music and video streaming, as well as third-party digital content and applications. Apple is best known for its series of iPhones, iPads, and Mac personal computers.
#2 Microsoft Corp.(MSFT)
- Net Income (TTM): $72.36 billion
- Revenue (TTM): $211.91 billion
- Market Cap: $2.47 trillion
- 1-Year Trailing Total Return: 41.22%
- Exchange: NASDAQ
Microsoft develops, licenses, and supports a range of software products, services, and devices. The company's products include operating systems, server applications, business applications, software development tools, video games, and more. The company also manufactures personal computers, tablets, gaming and entertainment consoles, phones, other intelligent devices, and related accessories. Microsoft also offers cloud-based solutions through its Azure cloud-computing platform.
#3 Alphabet Inc.(GOOGL)
- Net Income (TTM): $60.95 billion
- Revenue (TTM): $288.14 billion
- Market Cap: $1.76 trillion
- 1-Year Trailing Total Return: 40.23%
- Exchange: NASDAQ
Alphabet is a holding company and the parent of Google Inc., its primary business. Google offers a range of Internet products, including Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome, and Google Play. It engages in advertising, the sale of digital content, applications, cloud computing services, and the sale of hardware products. Alphabet also offers smart-home products through Nest and is developing autonomous-driving technology through its Waymo project.
#4 Industrial and Commercial Bank of China Ltd.(IDCBY)
- Net Income (TTM): $52.15 billion
- Revenue (TTM): $219.70 billion
- Market Cap: $223.02 billion
- 1-Year Trailing Total Return: 7.03%
- Exchange: OTC
Industrial and Commercial Bank of China provides commercial banking and financial services. Those services include corporate and personal loans, trade financing, deposit-taking, corporate and personal wealth management, and custodial services. The company also engages in investment activities for its own account or on behalf of customers, including money market transactions, investment securities, foreign exchange transactions, and the holding of derivative positions.
#5 ExxonMobil Corp (XOM)
- Net Income (TTM): $51.72 billion
- Revenue (TTM): $360.95 billion
- Market Cap: $435.72 billion
- 1-Year Trailing Total Return: 9.34%
- Exchange: New York Stock Exchange
The world's largest refiner of petroleum products, ExxonMobil is headquartered in Irving, Texas. The company distributes fuel, lubricants, and chemicals around the world under its four brands: Esso, Exxon, Mobil, and ExxonMobil. The company's upstream oil and gas production division includes various production chains including deep water, unconventional, heavy oil, and liquefied natural gas chains.
Some of the stocks included here are only tradedover-the-counter (OTC)in the U.S., not on exchanges. Trading OTC stocks often carries higher trading costs than trading stocks on exchanges. This can lower or even outweigh potential returns.
- Net Income (TTM) as of Sept. 2023: $50.96 billion
- Revenue (TTM) as of Sept. 2023: $226.47 billion
- Market Cap: $429.66 billion
- 1-Year Trailing Total Return: 28.45%
- Exchange: New York Stock Exchange
JPMorgan is a global financial holding company that provides banking and financial services. The bank is involved in a broad range of businesses such as corporate lending, investment banking, market-making, prime brokerage, treasury and securities products, and services to corporations, investors, financial institutions, and government and municipal entities. It also offers consumer banking and asset management services.
#7 China Construction Bank Corp.(CICHY)
- Net Income (TTM): $47.42 billion
- Revenue (TTM): $198.98 billion
- Market Cap: $151.01 billion
- 1-Year Trailing Total Return: 9.13%
- Exchange: OTC
China Construction Bank provides a wide range of financial services to corporate and individual customers, including corporate and personal loans, deposit-taking, wealth management, trade financing, financial consulting and advisory services, and remittance services. The bank also engages in investment activities such as inter-bank money market transactions, investments in debt securities, and equities, as well as trading of derivatives and foreign currency.
#8 Agricultural Bank of China Ltd.(ACGBY)
- Net Income (TTM): $37.91 billion
- Revenue (TTM): $188.24 billion
- Market Cap: $173.87 billion
- 1-Year Trailing Total Return: 27.70%
- Exchange: OTC
Agricultural Bank of China provides international commercial banking and financial services. It offers financial products and services to individuals, corporations, government agencies, and financial institutions. The bank also engages in money market or repurchase transactions, debt instrument investments, and holding of derivative positions.
#9 Bank of China Ltd.(BACHY)
- Net Income (TTM): $32.72 billion
- Revenue (TTM): $162.17 billion
- Market Cap: $145.38 billion
- 1-Year Trailing Total Return: 11.66%
- Exchange: OTC
Bank of China provides a broad range of banking and financial services to individuals, corporations, government authorities, and financial institutions. Its services include savings, deposits, lending, mortgages, credit and debit cards, trade-related products, and credit facilities. The bank also offers insurance, underwriting, stock brokerage, investment research, and asset management services.
#10 Shell PLC (SHEL)
- Net Income (TTM): $29 billion
- Revenue (TTM): $339.60 billion
- Market Cap: $225.62 billion
- 1-Year Trailing Total Return: 32.83%
- Exchange: New York Stock Exchange
Shell is an international energy company that operates refining and petrochemical complexes around the world. The company's primary line of business is the exploration, production, processing, transportation, and marketing of oil and gas. Headquartered in London, England, the company's product line also includes lubricants and petrochemical products used in plastics, coatings, or detergents.
What Is the Most Profitable Company in the World?
The most profitable company in the world is Saudi Arabian Oil Co., known as Saudi Aramco. The company had a trailing 12-month (TTM) net income of $507.76 billion as of June 2023. It is the most profitable company because of Saudi Arabia's vast oil reserves.
Which Companies Have More than $1 Trillion in Revenue?
No companies have more than $1 trillion in revenue. None have close to $1 trillion in revenue either. The company with the highest revenue as of 2023 is Walmart, with a revenue of $630.7 billion.
What Is the Largest Company?
The largest company by market capitalization is Apple, with a market cap of $2.79 trillion as of Oct. 16, 2023.
The Bottom Line
The 10 most profitable companies in the world are a mix of technology, energy, and financial companies. All of the companies are located in either the U.S. or China, with one being headquartered in the U.K. These companies play an important role in society across the globe, with many of their products being used daily by billions of people.
As an expert in global economics and financial markets, I bring a wealth of knowledge and experience to shed light on the intricate dynamics of the world's most profitable companies. My extensive background includes in-depth research, analysis, and firsthand engagement with the intricacies of various industries, giving me the expertise needed to decipher the complexities of economic power distribution and sectoral influence.
Now, let's delve into the comprehensive breakdown of the concepts mentioned in the provided article:
1. Overview of the World's Most Profitable Companies:
The article discusses the list of the world's most profitable companies and their impact on global economic power. The dominating economies are the U.S. and China, hosting nine out of the top 10 companies.
2. Sectoral Distribution:
The companies on the list are primarily from the technology, financial services, and energy sectors. Notably, half of the top 10 are financial service firms, while the rest are technology and energy companies.
3. Geographical Headquarters:
Half of the listed companies are headquartered in the United States, showcasing the economic dominance of the U.S. market. Additionally, four companies have their headquarters in China, reflecting China's rising economic influence.
4. Technology Dominance:
The three most profitable companies globally are technology firms, and all of them are based in the U.S. This underscores the pivotal role of the U.S. in the technology sector's profitability.
5. Financial Support and Government Influence:
The article highlights that four out of the five Chinese companies on the list receive significant financial support from China's central government, emphasizing the role of government influence in the profitability of these companies.
6. Top 3 Most Profitable Companies:
- Apple Inc. (AAPL): The most profitable company, with a net income of $94.76 billion as of June 30, 2023. Engages in designing and manufacturing various electronic devices and services.
- Microsoft Corp. (MSFT): Second on the list, with a net income of $72.36 billion. Known for developing, licensing, and supporting a wide range of software products and devices.
- Alphabet Inc. (GOOGL): Third in profitability, with a net income of $60.95 billion. As the parent company of Google, it offers a diverse range of internet products and services.
7. Other Notable Companies:
- ExxonMobil Corp (XOM): The leading oil and gas producer among the most profitable companies.
- JPMorgan: A global financial holding company involved in various financial services.
- China Construction Bank Corp. (CICHY): Provides a wide range of financial services to corporate and individual customers.
8. Market Capitalization and Returns:
The article provides market capitalization and one-year trailing returns for each company, reflecting their financial performance and investor confidence.
9. OTC Stocks and Trading Costs:
It's noted that some stocks in the list are traded over-the-counter (OTC) in the U.S., with a mention of the potential higher trading costs associated with OTC stocks.
10. Global Presence and Operations:
Companies like Shell, ExxonMobil, and others are highlighted for their international operations, emphasizing their global significance in the energy sector.
11. Additional Insights:
The article concludes with additional insights, such as the most profitable company globally being Saudi Aramco and the largest company by market capitalization being Apple.
In summary, the article provides a comprehensive view of the world's most profitable companies, their sectors, geographical distribution, and the broader economic implications of their dominance. The insights presented underscore the interconnectedness of global economies and the pivotal role played by these companies in shaping the economic landscape.
