The 10 most profitable companies in the world

"The social responsibility of business is to increase its profits," economist Milton Friedman wrote in 1970, setting off a debate about whether social responsibility or profits ought to outrank the other when evaluating the wider balance sheet of a company. Friedman, at least in the eyes of many investors, has won this debate for a long time, since profit is still considered to be the most important metric by which companies are judged.

But every quarter, when the world's largest companies report their profits, you get more than a snapshot of each company's performance. Investors examine their profit to understand broader economic trends and shifts in world power. They also look at the direction of future business.

Below, we reveal the 10 most profitable companies in the world by 12-month trailing (TTM) net income, according to TradingView.

What you need to know

• Saudi Arabian Oil Co. (also known as Saudi Aramco, or simply Aramco) is the most successful company on earth.
• The top ten are all from the United States, the other six from China and Saudi Arabia.
• Top-ranking companies operate either in the tech sector, oil and energy, or financial service.
• Net income can fluctuate, meaning this list is very likely to shift—especially among the middle of the pack, where the companies are close to one another.

Notice: We use net income to measure profits

The public companies below are organized by net income—also called the “bottom line”—rather than other profit measures like gross profit or operating income because it’s what’s actually left after all expenses, taxes, and costs are paid. Gross profit is the amount a business makes once it covers its direct production costs. Net income, however, gives investors an accurate picture of what a firm actually earns from its entire range of activities.

Net income can be modest for a company that shows massive profits on paper but has to spend so many resources in marketing, R&D, or taxes. Other measures like EBITDA (earnings before interest, taxes, depreciation, and amortization) can be useful for comparing companies' operational performance, but net income remains the most straightforward way to answer the simple question: How much money did the company actually make?

Let's now answer that question for you:

1. Saudi Arabian Oil Co. (2222)

Aramco, which was founded as a spin-off of Standard Oil in the 1970s, has grown into an international behemoth that pumps and refines oil and natural gas at incredibly low costs.

Beyond fossil fuels, Aramco’s influence extends into the chemicals market since they produce everything from essential industrial compounds to synthetic materials—it’s likely something in your vicinity has at least some part made from the massive oil deposits under Saudi Arabia. Aramco, the world’s most successful oil company, is the main target for efforts to fight climate change and switch to cleaner energy.

$300,000,000

Aramco makes $300 million a day. This is comparable to the profit of Nvidia, the Wall Street darling with a five-year return of 2,700%.

2. Berkshire Hathaway Inc. (BRK.A)

Berkshire Hathaway, under Warren Buffett’s legendary leadership for six decades, has been associated with successful investment. Berkshire Hathaway is a company that owns many subsidiaries, such as GEICO or Duracell. It also has large stakes in Coca-Cola Co. and American Express Co.

Berkshire Hathaway’s stock is currently worth $700k. This is the highest ever price.

3. Industrial and Commercial Bank of China Ltd. (IDCBY)

ICBC is one of the world’s largest financial institutions. It is one of the largest financial institutions in the world, serving hundreds of millions of people across personal and corporate finance. The bank’s reach extends from busy Chinese cities all over to international markets. ICBC was responsible for much of China’s massive economic growth over the past several decades.

ICBC is a symbol of China’s ambitious economic goals and how close the major Chinese companies are to the government. ICBC is becoming more aware of the changes that are occurring in China. The real estate crisis and subsequent economic downturn will be a problem for ICBC from early to mid-2020.

ICBC is China’s largest bank. “Big Four” Banks, including China Construction Bank, Agricultural Bank of China and Bank of China. 

4. Alphabet Inc. (GOOGL)

As Google's parent company, Alphabet owns the world's most widely used search engine—it processes over 100,000 searches each second. Alphabet dominates our digital world. From Google Maps, which details the locations of the globe around us, to YouTube and the millions it reaches.

It hasn’t been a company that sits still. Artificial intelligence is already changing its core search business. Its ubiquity is its strength but also the reason U.S. and EU regulators have charged it with monopolistic practices—a U.S. court in August 2024 ruled that Google violated antitrust laws by maintaining an illegal monopoly in search.

Network Effect

As more users use services like Google Search or Meta Platforms social networks, they become more valuable for all. The network effect is what we call it. This is why, once digital platforms reach a certain scale, they become almost unbeatable. This is why regulators are concerned about their massive size and potential monopolistic practices. However, several of the companies listed on this list will likely remain highly profitable in spite of these challenges. The network effect is too powerful for a new competitor.

5. Apple Inc. (AAPL)

Apple, best known as a maker of iPhones, iPads, Macs and personal computers is now trying to boost the percentage of profit it makes from services. Apple has created a world of digital technology that millions of users barely ever leave.

Apple’s App Store has been the subject of antitrust investigation in the U.S. as well as the EU. Allegations have also been made that the App Store practices stifle competition.

6. Microsoft Corp. (MSFT)

Microsoft was once regarded as an old giant that would slowly fade into insignificance. But in recent years its profits and market value have soared, thanks to clever moves made in artificial intelligence, gaming systems and other profitable businesses. The operating system that is behind most computers used by Americans can be found in its products. The company also produces Xbox video chats, Teams, and LinkedIn. Azure’s cloud platform is like an enormous digital backbone that powers everything from Netflix to online banking. Although it remains one of most prominent companies on the planet, Azure is more and more invisibly used to power much of today’s online activities.

7. Meta Platforms Inc.

Meta Platforms is much more than just Facebook and Instagram—though that already makes it one of the most consequential companies on the planet. Meta Platforms connects nearly half of the global population through Facebook, Instagram and WhatsApp. Meta handles billions in messages, photos and videos every day. The year for Meta has been volatile. Meta’s aggressive move into the metaverse, which was central to Mark Zuckerberg’s original plans a couple of years back, is now all but banned in earnings calls.

Meta has set records for one-day market cap drops (over $200 billion in early 2022) and gains—jumping more than $190 billion the day after its largest drop, then gaining more than that Feb. 2, 2024 on the heels of a good earnings report.

Meta’s move into AI and stellar rise year-over-year net income has attracted the loyalty of many investors—anytime its stock price drops, it seems buyers rush in to push the stock to new price highs soon after.

8. JPMorgan Chase & Co. (JPM)

JPMorgan is a giant in global finance, with a place in many key financial projects in U.S. history—it helped fund the Erie Canal. The system is a vital part of the global financial engine, offering everything from simple consumer banking services to sophisticated corporate advisory. Each day, the daily transaction volume exceeds the U.S. budget.

Given its size and outspoken CEO, Jamie Dimon, it’s said when JPMorgan talks, markets listen—which also makes JPMorgan an occasional focal point of discussions about banking reform.

Jamie Dimon, CEO of JPMorgan Chase

Jamie Dimon has been widely praised for both his public comments that are candid and his contribution to the transformation of Bankers Trust into a global leader in finance. His career is not without controversy. The company has had to backtrack on his claims that Bitcoin was a “fraud.” Even though he still considers the blockchain to be largely ineffective, he has shown enthusiasm for its underlying technology. Even what he doesn’t talk about gains wide attention—witness the many articles produced from his cat-and-mouse game with the media in 2024 about whom he would support in the U.S. presidential election.

9. China Construction Bank Corp. (CICHY)

China Construction Bank (CCB) is one of China's four biggest banks and has played a crucial role in building modern China. CCB transformed China, from a largely agricultural country into one that has more high-speed railways than anywhere else in the world. CCB has been the first place for millions of Chinese to get a credit card and save money for the future. Whenever you see pictures of China's dramatic skylines and massive infrastructure projects, CCB likely helped finance them.

The company operates more like a fund for development than as a bank.

ADRs

Investors in the United States often choose American Depositary Receipts (ADRs) when they want to buy or sell shares in foreign firms. ADRs are certificates issued by U.S. banks that represent shares of foreign stocks and can be traded like any other share over-the-counter.

10. Agricultural Bank of China

AgBank is a Chinese multinational financial and banking services company owned by the Chinese government. The bank offers a wide range of financial services to individuals and businesses, such as loans, currency exchange, discounting bills, and deposits. AgBank, headquartered in Beijing, has many branches around the world. While it plays a major role in China’s financial development—it's got more branches in rural China than all the banks in the U.S—it faces the same major challenges as China's other lenders, given the billions in unpaid loans left in the wake of the real estate collapse there.

What is the most profitable company in the world?

Saudi Arabian Oil Co., which had a net profit of $120.55bn for the 12-month period ending Nov. 6, 2020 (TTM), is currently the world’s most lucrative company. Aramco is able to generate large profits because of Saudi Arabia's vast oil reserves and the low costs it incurs to tap into it.

What companies have revenues exceeding $1 trillion?

There is no company that generates more revenue than $1 trillion per year. Walmart will have the largest revenue on an annual basis as of November 6, 2024. The retail giant has generated $648.13billion in sales over the past 12 months.

Which company is the biggest?

NVIDIA, with its market capitalization of $3.55 billion, will be the largest company in 2024.

Bottom line

The world's most profitable companies reflect both global economic power shifts and evolving industry trends. U.S. companies dominate the list with six spots, demonstrating America's 2020s leadership in technology and financial services, while China's presence through its major state-backed banks is a sign of its economic might.

Saudi Aramco's position at the top underscores the continuing importance of energy resources, even as tech giants like Apple, Microsoft, and Alphabet show how digital transformation drives modern profits. However, these rankings are subject to change based on changes in market conditions, regulations, and economic global factors. This makes them more of a snapshot than a fixed hierarchy.

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