The 10 most profitable companies in the world

The list of the world’s most profitable companies offers an idea of ​​which countries wield the most economic power and the sectors with the most economic influence. The world’s two largest economies by far, the US and China, are home to each of the top 10 most profitable companies. Just as importantly, most of the companies on the list are financial services companies, though technology and energy companies also rank well.

Only companies listed on US or Canadian stock exchanges, either directly or through ADRs, are included in this list. Saudi Aramco, the state oil company of Saudi Arabia, for example, went public on the Saudi Stock Exchange in December 2019. It would have been in the top 10 most profitable companies in the world, and even topped the list in previous years.

In particular, the three most profitable companies in the world are technology companies. Unlike in previous years, all of the technology companies in the top 10 are from the US. The technology sector is made up of companies that make computers and electronics, develop software, and provide information technology-related services such as cloud computing and e-commerce.

Four of the five financial companies on the list are based in China, and most of them receive significant financial support from China’s central government. The financial sector is made up 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 based on last 12 months (TTM) net income. Some companies outside of the US report earnings semi-annually instead of quarterly, so the final 12-month data may be older than those of companies that report quarterly. Data courtesy of YCharts.com. All figures are as of January 11, 2023.

• Net income (TTM): $99.8 billion
• Revenue (TTM): $394.33 billion
• Market capitalization: $2.08 trillion
• 1-year cumulative 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 variety of software, services, accessories, network 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.

• Net Income (TMT): $69.79 billion
• Revenue (TTM): $203.08 billion
• Market Cap: $1.71 trillion
• 1-year cumulative total return: -26.49%
• Exchange: NASDAQ

Microsoft develops, licenses, and supports a variety 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, game and entertainment consoles, phones, other smart devices, and related accessories. Microsoft also offers cloud-based solutions, its fastest growing business, through its Azure cloud computing platform.

• Net Income (TTM): $66.99 billion
• Revenue (TTM): $282.11 billion
• Market capitalization: $1.14 trillion
• 1-year cumulative total return: -36.24%
• Exchange: NASDAQ

Alphabet is a holding company and the parent of Google Inc., its core business. Google offers a variety of Internet products, including search, ads, commerce, maps, YouTube, Google Cloud, Android, Chrome, and Google Play. It is engaged 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 self-driving technology through its Waymo project.

• Net Income (TMT): $55.34 billion
• Revenue (TTM): $143.32 billion
• Market Cap: $188.72 billion
• 1-year cumulative 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 clients, including money market transactions, investment securities, currency transactions and the holding of derivative positions.

• Net Income (TTM): $51.86 billion
• Revenue (TTM): $386.82 billion
• Market Cap: $453.38 billion
• 1-year cumulative total return: 67.12%
• Stock: New York Stock Exchange

ExxonMobil, the world’s largest petroleum products refiner, is headquartered in Irving, Texas. The company distributes fuel, lubricants and chemicals worldwide under its four brands: Esso, Exxon, Mobil and ExxonMobil. The company’s upstream oil and gas production division includes various production chains, including deepwater, unconventional, heavy oil and liquefied natural gas chains.

• Net Income (TTM): $48.49 billion
• Revenue (TTM): $126.78 billion
• Market Cap: $159.38 billion
• 1-year cumulative total return: -6.31%
• Exchange: OTC

China Construction Bank offers a wide range of financial services to corporate and individual clients, including corporate and personal lending, deposit-taking, wealth management, trade finance, financial advisory and consulting services, and remittance services. The bank also engages in investment activities such as interbank money market transactions, investments in debt securities, shares, as well as derivatives and foreign currency trading.

• Net Income (TMT): $43.36 billion
• Revenue (TTM): $365.29 billion
• Market Cap: $204.03 billion
• 1-year cumulative total return: 27.58%
• Stock: New York Stock Exchange

Shell is an international energy company that operates refining and petrochemical complexes around the world. The company’s main 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 petrochemicals used in plastics, coatings or detergents.

• Net Income (TMT): $38.45 billion
• Revenue (TTM): $113.04 billion
• Market Cap: $122.94 billion
• 1-year cumulative total return: 6.58%
• Exchange: OTC

The 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 is also involved in money market or repurchase transactions, investments in debt instruments and holding derivative positions.

• Net Income (TMT): $37.07 billion
• Revenue (TTM): $123.42 billion
• Market Cap: $406.54 billion
• 1-year cumulative total return: -14.41%
• Stock: New York Stock Exchange

JPMorgan is a global financial holding company that provides banking and financial services. The bank is involved in a wide range of businesses, including corporate lending, investment banking, market making, prime brokerage, and treasury and securities products and services for corporations, investors, financial institutions, and government and municipal entities. It also offers consumer banking and asset management services.

• Net Income (TMT): $34.54 billion
• Revenue (TTM): $94.13 billion
• Market Cap: $108.92 billion
• 1-year cumulative total return: 6.02%
• Exchange: OTC

Bank of China offers a wide range of banking and financial services to individuals, corporations, government authorities and financial institutions. Its services include savings, deposits, loans, mortgages, credit and debit cards, trade-related products, and lines of credit. The bank also offers insurance, underwriting, stock brokerage, investment research and asset management services.