ExxonMobil is No. 15 this year, up from No. 317 in 2021 and Shell is No. 16, up from No. 324. Both companies saw profits swing back into positive territory after last year’s losses. By contrast, Microsoft built itself into one of the world’s largest companies with a focus on steady recurring 3 best white label providers 2022 revenue streams. You might not need a new smartphone or laptop every year, but a software license, Cloud-computing package or videogame subscription, means ongoing payments—and client stickiness. Get this delivered to your inbox, and more info about our products and services.
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.
- The financial sector is comprised of banks, investment companies, insurance companies, and real estate firms.
- Owned by the Saudi Arabian government, it has the largest daily oil production and the second-largest proven crude oil reserves of all oil companies.
- Most companies judge themselves, and are judged by the general public, based on their revenues, market cap, profits, dividends and returns to shareholders.
- It would have been among the world’s 10 most profitable companies, and would have even topped the list in previous years.
- 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.
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.
#195 HCA Healthcare
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.
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.
- Apple is best known for its series of iPhones, iPads, and Mac personal computers.
- Their biggest concerns are how to maximize returns by maximizing profits, or adapting to everchanging economic situations in a volatile decade, such as the pandemic or now the threat of a looming recession.
- Meta Platforms is also developing the metaverse, a virtual world that combines social media, online gaming, augmented reality, virtual reality, and cryptocurrencies.
- The German package delivery and courier company is easily among the biggest courier companies in the world, with revenues crossing 81.75 billion euros in 2021, and the return on equity being quite high at 27.7%.
- In this article, we have listed the 30 biggest companies in the world by 2023 revenue.
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.
It is one of the world’s largest and most diversified companies, with a range of business interests, including electronics, finance, and engineering. Samsung is best known for its consumer electronics products, including smartphones, tablets, and TVs, sold in more than 200 countries. Procter & Gamble (P&G) is a multinational consumer goods company headquartered in Cincinnati, Ohio. successful day trading strategies Meta Platforms is also developing the metaverse, a virtual world that combines social media, online gaming, augmented reality, virtual reality, and cryptocurrencies. Through its products and platforms, Meta Platforms enables individuals and businesses to connect and communicate with each other using mobile devices, personal computers, and in-home devices such as VR headsets.
China Mobile Communications
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.
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 what happens if i buy tesla stock today 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.
TSM has a strong track record of innovation and has consistently ranked as one of the top companies in the semiconductor industry. TSM has a diversified customer base and operates globally, with facilities in Taiwan, China, Singapore, and the United States. Notably, the three most profitable companies in the world are technology firms.
This Financial Times–based list is up to date as of December 31, 2016[update]. This Financial Times–based list is up to date as of December 31, 2017[update]. This Financial Times–based list is up to date as of December 31, 2018[update].
Saudi Arabian Oil
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 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.
#11 Alphabet
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.
However, there are a few that generate less than $100 billion in annual revenue, suggesting that investors are optimistic about the potential growth of these companies compared to the others on the list. The JPMorgan Chase & Co. is one of the world’s leading international financial services companies headquartered in New York City. It is one of the largest banks in the United States and one of the largest financial institutions in the world. The company provides a range of financial products and services, including retail and commercial banking, asset and wealth management, and investment banking.
#49 Public Joint Stock Company Gazprom
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.
#186 Mizuho Financial
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.