A look at which nations and industries have the most economic influence may be gained from the list of the most profitable corporations in the world.
All ten of the most profitable corporations have their headquarters in the two economies with the greatest global markets, the United States and China.
The fact that financial services companies make up the majority of the list is also significant, while energy and technology industries also perform well.
This list only include companies that are directly or via ADRs listed on U.S. or Canadian exchanges. For instance, Saudi Aramco, the nation’s state-owned oil firm, debuted on the Saudi Stock Exchange in December 2019.
It would have been among the world’s 10 most profitable companies, and would have even topped the list in previous years.
Notably, the three most profitable companies in the world are technology firms. As opposed to prior years, all technology firms in the top 10 are from the U.S. The technology sector is comprised of companies that manufacture computers and electronics, develop software, and provide services relating to information technology, such as cloud computing and e-commerce.
Four out of the five financial companies on the list are based in China, most of them receiving major financial support from China’s central government. The financial sector is comprised of banks, investment companies, insurance companies, and real estate firms. These companies offer a range of financial services, including deposits, loans, investment and wealth management, insurance, and brokerage services.
These are the 10 most profitable companies by 12-month trailing (TTM) net income. Some companies outside the U.S. report profits semi-annually instead of quarterly, so the 12-month trailing data may be older than it is for companies that report quarterly. Data is courtesy of YCharts.com.2 All figures are as of January 11, 2023.
1 Apple Inc. (AAPL)
- Net Income (TTM): $99.8 billion
- Revenue (TTM): $394.33 billion
- Market Cap: $2.08 trillion
- 1-Year Trailing Total Return: -23.64%
- 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): $69.79 billion
- Revenue (TTM): $203.08 billion
- Market Cap: $1.71 trillion
- 1-Year Trailing Total Return: -26.49%
- 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, its fastest-growing business, through its Azure cloud-computing platform.
3 Alphabet Inc. (GOOGL)
- Net Income (TTM): $66.99 billion
- Revenue (TTM): $282.11 billion
- Market Cap: $1.14 trillion
- 1-Year Trailing Total Return: -36.24%
- 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, sale of digital content, applications, cloud computing services, and 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): $55.34 billion
- Revenue (TTM): $143.32 billion
- Market Cap: $188.72 billion
- 1-Year Trailing Total Return: -3.28%
- 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): $51.86 billion
- Revenue (TTM): $386.82 billion
- Market Cap: $453.38 billion
- 1-Year Trailing Total Return: 67.12%
- 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.
6 China Construction Bank Corp. (CICHY)
- Net Income (TTM): $48.49 billion
- Revenue (TTM): $126.78 billion
- Market Cap: $159.38 billion
- 1-Year Trailing Total Return: -6.31%
- 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, equities, as well as trading of derivatives and foreign currency.
7 Shell PLC (SHEL)
- Net Income (TTM): $43.36 billion
- Revenue (TTM): $365.29 billion
- Market Cap: $204.03 billion
- 1-Year Trailing Total Return: 27.58%
- 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.
8 Agricultural Bank of China Ltd. (ACGBY)
- Net Income (TTM): $38.45 billion
- Revenue (TTM): $113.04 billion
- Market Cap: $122.94 billion
- 1-Year Trailing Total Return: 6.58%
- Exchange: OTC
Agricultural Bank of China provides 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 repurchases transactions, debt instrument investments, and holding of derivative positions.
9 JPMorgan Chase & Co. (JPM)
- Net Income (TTM): $37.07 billion
- Revenue (TTM): $123.42 billion
- Market Cap: $406.54 billion
- 1-Year Trailing Total Return: -14.41%
- 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, and 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.
10 Bank Of China Ltd. (BACHY)
- Net Income (TTM): $34.54 billion
- Revenue (TTM): $94.13 billion
- Market Cap: $108.92 billion
- 1-Year Trailing Total Return: 6.02%
- 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.
