Fortune 500 made $2.9T in profits in 2023, 38% of it in the U.S.

Research conducted by growandconvert.com further uncovers that the top three sectors—Energy (24.56%), Financials (23.07%), and Technology (15.54%)—collectively contribute 63% of the profits of these global 500 companies.

The research by takes a deep dive into the financial landscapes of the Fortune 500 global companies list, unraveling the intricacies of their profitability and disparities between U.S. and international counterparts.

In the fiscal year ending March 31, 2023, the top 500 companies amassed a staggering $41 trillion in revenue, yielding a profound $2.9 trillion in profits. The U.S. emerged as a profit behemoth, with its 136 Fortune 500 companies contributing a massive 38% to the global profit pool.

This study meticulously examines sector-wise profitability, country comparisons, and the highs and lows within the Fortune 500, offering a panoramic view of the world’s economic powerhouses.

Key Findings

• Global Giants: Fortune 500 companies amassed a colossal $41 trillion in revenue, with $2.9 trillion in profit.
• Top Global Profit Makers: The top 10 companies globally amassed $689.8B (24%) in profit, with Saudi Aramco leading at $159.1B.
• Global Losses: The bottom 10 companies worldwide incurred a collective loss of nearly $126B.
• U.S. Dominance: U.S. companies (136) secured a remarkable $1.1T profit, overshadowing China’s $528B, despite similar company numbers.
• The U.S. and China jointly generate 56% of the global 500 companies’ profit.
• Sector Powerhouses: Technology, Finance, and Energy sectors claimed 63% of the $2.9 trillion global profit.
• U.S. Sector Standouts: The Technology sector in the U.S. emerged as the most profitable, generating $306B, constituting 28% of the country’s total profit.
• Top U.S. Performers: The top 10 U.S. companies contributed 46% of the $1.1 trillion total profit, led by Apple.
• Sectoral Disparities: Media, Wholesaler, and Retail sectors in the U.S. lagged behind with profit margins of 0.76%, 1.53%, and 2.60%, respectively.

10 Most Profitable of the Largest Companies in the World, 2023

1. Saudi Aramco (Energy, Saudi Arabia): With $159.1B in profits, it dominates as the world’s most profitable energy company, capitalizing on vast oil reserves.

2. Apple (Technology, U.S.): Profiting $99.8B, Apple leads in tech innovation and consumer electronics, with a strong global brand presence.

3. Microsoft (Technology, U.S.): With $72.7B in profits, it excels in software, cloud services, and AI, maintaining a significant impact in tech industry.

4. Alphabet (Technology, U.S.): Earning $60B in profit, Alphabet, Google’s parent company, thrives in digital advertising, cloud computing, and AI technologies.

5. U.S. Postal Service (Transportation, U.S.): An unexpected contender with $56B in profits, showing resilience and adaptability in logistics and delivery services.

6. Exxon Mobil (Energy, U.S.): With $55.7B profit, it’s a key player in the oil and gas sector, benefiting from global energy demands and efficient operations.

7. Industrial & Commercial Bank of China (Financials, China): Profiting $53.6B, this bank leads in the financial sector with a strong customer base and diverse services.

8. China Construction Bank (Financials, China): With $48.1B in profits, it plays a pivotal role in China’s financial landscape with extensive banking operations.

9. Samsung Electronics (Technology, South Korea): Achieves $42.4B in profit, excelling in consumer electronics, semiconductors, and telecommunication.

10. Shell (Energy, Britain): With $42.3B profit, Shell remains a global leader in oil and gas, focusing on sustainable energy solutions alongside traditional operations.