How do we measure a company’s profitability? The most common way is to look at its net profit. By that measure, China National Tobacco Corporation is China’s most profitable company. In 2019, its total tax and profit amounted to 1.2056 trillion yuan, roughly equivalent to the profits of 13 Alibaba companies, netting nearly 33 billion yuan daily. However, when it comes to global rankings, the corporation is often not considered a pure company but a mix of government and enterprise. It’s not publicly traded, so its market value is unknown, and it’s not included in the rankings.
Today, let’s delve into the ten most profitable public companies globally. Let’s dive in!
10. J.P. Morgan Chase & Co.
Net Profit: $37.07 billion
Total Revenue: $123.44 billion
Market Cap: $379.43 billion
Based in New York’s Manhattan, J.P. Morgan Chase is a global financial holding company that offers banking and financial services. With assets totaling approximately $2.5 trillion and deposits of around $1.5 trillion, it operates more than 6,000 branches worldwide. Its 2022 net profit amounted to 251.87 billion yuan, earning roughly 700 million yuan daily.
9. Agricultural Bank of China
Net Profit: $38.45 billion
Total Revenue: $113.04 billion
Market Cap: $158.82 billion
Being China’s third-largest bank, it offers financial products and services to individuals, companies, governmental institutions, and other financial establishments. With its headquarters in Beijing, it boasts roughly 22,938 branches and assets totaling 30 trillion yuan. In 2022, it earned a net profit of 261.46 billion yuan, amounting to a daily profit of 716 million yuan.
8. Royal Dutch Shell (Shell)
Net Profit: $43.36 billion
Total Revenue: $365.29 billion
Market Cap: $198.02 billion
Shell, an international energy giant formed by the merger of Royal Dutch Petroleum and UK’s Shell, specializes in the exploration, production, processing, transportation, and sales of oil and natural gas. Headquartered in London and The Hague, it reported a net profit of 294.85 billion yuan in 2022, amounting to a daily net profit of 800 million yuan.
7. China Construction Bank (CCB)
Net Profit: $48.49 billion
Total Revenue: $126.78 billion
Market Cap: $223.52 billion
CCB, often humorously referred to as “Save or Not”, stands as China’s second-largest bank. Its primary operations encompass corporate banking, personal banking, and treasury operations. Headquartered on Beijing’s Financial Street, it operates approximately 17,408 branches. In 2022, its net profit reached 330 billion yuan, translating to about $9 billion a day.
6. Exxon Mobil Corporation
Net Profit: $51.86 billion
Total Revenue: $386.82 billion
Market Cap: $429.04 billion
Headquartered in Irving, Texas, ExxonMobil is the world’s largest private oil and gas producer. It ranked sixth in the 2022 Fortune 500 list, primarily distributing fuel, lubricating oil, and chemicals.
5. Industrial and Commercial Bank of China (ICBC)
Net Profit: $55.34 billion
Total Revenue: $143.32 billion
Market Cap: $236.76 billion
Known as ICBC and playfully termed “Love to Save or Not”, it stands as China’s premier bank. Boasting the country’s largest customer base, its 2022 net profit was 376.31 billion yuan, amounting to a daily profit of 1 billion yuan.
4. Alphabet Inc. (Google)
Net Profit: $66.99 billion
Total Revenue: $281.21 billion
Market Cap: $1.14 trillion
A multinational tech company, Google offers a plethora of internet products, including the Google browser, Google Maps, Google Cloud, Android OS, Google Play Store, and YouTube. In 2022, its net profit stood at 455.6 billion yuan, raking in a daily net profit of 1.25 billion yuan.
3. Microsoft Corporation
Net Profit: $69.79 billion
Total Revenue: $203.08 billion
Market Cap: $2.06 trillion
Founded by Bill Gates in 1975, this multinational tech behemoth is recognized for developing, manufacturing, and licensing a wide range of software products. From operating systems like Windows 7 and Windows 10 to various office applications, their offerings have permeated the computing landscape. In 2022, their net profit was approximately 474.57 billion yuan, translating to a daily profit of 1.3 billion yuan.
2. Apple Inc.
Net Profit: $99.8 billion
Total Revenue: $394.33 billion
Market Cap: $2.53 trillion
As a tech giant from the U.S., Apple has consistently remained the world’s most valuable company for three consecutive years. Its market value is comparable to the GDP of the world’s fifth-largest economy, trailing only the U.S., China, Japan, and Germany. From designing and manufacturing smartphones, computers, headphones, to watches, its global fan base willingly splurges on its offerings. In 2022, Apple’s net profit was about 678.64 billion yuan, leading to a daily profit of 1.86 billion yuan.
1. Saudi Aramco (Saudi Arabian Oil Company)
Net Profit: $161.1 billion
Total Revenue: $228.23 billion
Market Cap: $1.88 trillion
As the world’s largest oil-producing company, Saudi Aramco possesses the world’s largest onshore oil field, Ghawar, and the biggest offshore oil field, Safaniya. Their oil extraction costs are extremely low, and oil literally gushes out upon drilling. Benefiting from oil prices in 2022, they reported record-breaking performance, with a net profit of 1,095.48 billion yuan, amounting to a daily profit of 3 billion yuan.
Conclusion:
Among the ten most profitable global public companies, five are American, three are Chinese, one is Saudi, and one is British. Three are tech firms (Apple, Microsoft, and Google), three deal with oil (Saudi Aramco, Shell, and ExxonMobil), and four are banks (ICBC, CCB, Agricultural Bank, and J.P. Morgan). Data might contain inaccuracies, and rankings may shift as stock prices fluctuate. Feedback is always welcome!