The largest employers in the world include companies, militaries, and governments. This Financial Times–based list is up to data as of December 31, 2020[update]. Berkshire Hathaway Inc. (BRK.A) is a multinational conglomerate holding company headquartered in Omaha, Nebraska.
Now that we’ve discussed what some of the leading companies in some of the biggest industries are up to, let’s take a look at the 30 biggest companies in the world by revenue as of 2023. 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. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.
#6 China Construction Bank Corp. (CICHY)
Microsoft is a global developer and licensor of software, devices, solutions, and services. The company is well known for its Windows and Office Suite software as well as its XBox gaming hardware. MSFT is getting a growing share of its profit and revenue from cloud computing services, for which it is one of the market leaders. Microsoft also owns and operates LinkedIn, the popular social networking site for job seekers.
- To rank the biggest companies in the world in terms of revenue, we consulted the Fortune Global 500 list, which is an annual ranking of the world’s largest corporations based on their fiscal year revenues.
- Despite challenges brought on by the pandemic, ongoing war and unpredictable markets, the world’s largest public companies managed to boost sales and profits in the last year.
- While its main business is insurance (it owns one of the largest insurance companies, GEICO), Berkshire has also invested in companies across a range of industries.
- It offers financial products and services to individuals, corporations, government agencies, and financial institutions.
- The company is responsible for the exploration, production, refinement, and distribution of oil and natural gas, and it operates a vast network of pipelines and facilities throughout the Middle East.
Most of the biggest companies by employees are also the largest companies in their industry, hence necessitating the need of such a large number of employees, and Volkswagen is no exception. Founded under the Nazi party, the company was so massive that the city of Wolfsburg was built as a planned city to accommodate workers from Volkswagen. The company owns some of the biggest and most famous brands in the automotive industry including Audi, Bugatti, Ducati, Bentley, Porsche and Lamborghini among others. The world’s largest oil refining, gas and petrochemical conglomerate, Sinopec Group is among the largest companies in the world by revenue as well. China’s state-owned electric utility provider, State Grid Corporation of China (SGCC) has faced the same devastating combo of pandemic-related profit loss and government pressure for reduced carbon emissions.
#105 State Bank of India
This pharmaceutical and medical supplies distributor is the largest of its kind in the US. The scope of its operation makes it ideal for government contracts, which includes pharmacy and mail-order supplies for Veteran’s Affairs hospitals and distributing COVID-19 vaccines nationwide. McKesson has additional operations in the UK and Canada, and its 67,500 roles are based in the medical, technology, marketing, sales and project etf day trading for beginners features and difficulties of trade management fields. China Petroleum & Chemical is a producer and distributor of a variety of petrochemical and petroleum products. The company’s products include gasoline, diesel, kerosene, synthetic rubbers and resins, jet fuel, and chemical fertilizers, among other related offerings. Also known as Sinopec, China Petroleum & Chemical is among the largest oil refining, gas, and petrochemical companies in the world.
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. 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.
Costco Wholesale Corporation (NASDAQ:COST)
The world’s biggest companies by market cap operate within a range of different market sectors, including technology, communication services, energy, consumer cyclicals, and financial services. A company’s market cap is calculated trading without stop loss by multiplying the total number of its shares outstanding by the current market price of a single share. The majority of the companies making up the top-10 list generate hundreds of billions of dollars in annual revenue.
We have listed the 30 biggest companies in the world by revenue as of 2023 below in ascending order. Tech giant Apple is proof of how far high-quality products and strong brand loyalty can go. It first became the world’s most valuable company on Aug. 9, 2011, just 15 days before Steve Jobs resigned as CEO. Although other companies have surpassed it at times since then, Apple has held the top spot for the better part of a decade. It also holds the distinction of being the first company to hit market caps of $1 trillion, $2 trillion, and $3 trillion.
Get step-by-step guidance on investing in Apple stock and learn the ins-and-outs of this technology company. Apple built its success off sales of its wildly popular products, including the iPhone, MacBook, and AirPods. However, it has branched out into services as well, including its Apple TV+ streaming service. Gazprom is a Russian state-owned energy company and is the biggest company in Russia by revenue. The company has been a part of sanctions from the United States after Russia’s unprovoked invasion of Ukraine.
Biggest Companies in the World
Those services include corporate and personal loans, trade financing, deposit-taking, corporate and personal wealth management, and custodial services. 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. Microsoft develops, licenses, and supports a range of software products, services, and devices.
The company serves individuals, families, and businesses through its various subsidiaries, including UnitedHealthcare and Optum. It is headquartered in Hsinchu, Taiwan, and is the world’s largest dedicated independent semiconductor foundry. The company provides a range of integrated circuits (ICs) and other related products and services for customers in various industries, including consumer electronics, automotive, communications, and computing. According to Forbes, the world’s largest companies are determined by their market cap value. The top 20 largest companies in the world that are based on their market value, are all technology and consumer services giants. Industrial and Commercial Bank of China provides commercial banking and financial services.
Walmart sells a wide variety of merchandise including clothing and apparel, home goods, books, jewelry, food and beverage, pharmaceutical supplies, and automotive equipment. Some foreign companies may report semiannually, and so may have longer lag times. We add the caveat that two other companies that otherwise would be added to this list are Saudi Aramco, the Saudi state oil company; and State Grid, the Chinese state-owned electric utility.
Another interesting aspect of worker’s rights has been the Great Resignation. The Great Resignation is an ongoing trend where employees are leaving their jobs en masse, in protest of working conditions and lack of benefits. Other reasons for mass quitting include td sequential indicator wage stagnation and lack of career opportunities. During the pandemic, many businesses laid off their staff, with the United States alone accounting for 40 million unemployed people at one point in 2020, which meant nearly 25% of the total work force.
