Most Profitable Companies of the World
The tech age has produced some of the biggest companies in the World — dubbed as Unicorns, these startups have valuations in excess of $1 billion. Not only has it been a good decade for the new companies to emerge but the traditional giants have been reaping the rewards of bigger corporate profits owing to strong global growth. At the time of writing, there are 403 unicorns in the World and the number is rising.
With the enormity of the amount of money that companies are making these days, it is probably better to measure the profits on a smaller time frame — like the infographic for today, which measures the money top companies are making every single day of the year. The data for the visualization comes from Fortune Global 500, which ranks the daily profits of the World’s Top 20 companies.
As you can see in the chart below, the top most profitable companies make millions of dollars by the day. Listed below are the total daily profits followed by how long it takes each of the Top 10 companies to make $1 million.
❶ Saudi Aramco: (304.04 million daily, 4.7 minutes)
❷ Apple: (163.1 million daily, 8.8 minutes)
❸ Industrial & Commercial Bank of China:(123.29 million daily, 11.7 mins.)
❹ Samsung Electronics: (109.3 million daily, 13.2 minutes)
❺ China Construction Bank: (105.48 million daily, 13.7 minutes)
❻ JPMorgan Chase & Co.: (88.97 million daily, 16.2 minutes)
❼ Alphabet (Google): (84.21 million daily, 17.1 minutes)
❽ Agricultural Bank of China: (83.99 million daily, 17.1 minutes)
❾ Bank of America Corp.L (77.12 million daily, 18.7 minutes)
❿ Bank of China: (74.59 million daily, 19.3 minutes)
Let’s move on to some of the other facts that we garnered from this report:
- Overall 70 companies globally make over a million dollars in less than an hour.
- Global Profit pool is expected to shrink from the current 10% to 8% in 2025.
- Saudi Aramco is the world’s most profitable company. The energy giant from the kingdom which is planning to go public in 2020, had its oil facilities come under attack recently. The planned IPO and the rising geopolitical tensions in the region may affect its profitability going forward.
- Apple claims the second spot of the most profitable companies making $163 million a day. While the tech giant is losing share in the smartphone market, its move to services may keep its profitability high.
- With the exception of Aramco & Samsung — where the former is from the Saudi kingdom and the latter is from South Korea, the United States & China shared four companies each in the top 10 pool.
- Nine out of the Top 10 most profitable companies were either from the technology or banking sector. The exception again was the energy giant Aramco. China was represented by the “Big Four” state-owned banks in the top 10.
- The Korean tech giant Samsung has consistently remained as one of the most profitable companies in the world by not only being a premier supplier of electronics but by capturing the broader smartphone market. With saturation in the smartphone market, it is trying to reinvent itself by launching a foldable smartphone.
Here is my recent piece on World’s 100 Largest Companies by Revenue in 2019, if you want to compare the most profitable with the ones that generate the most revenue.