10 Most Profitable Companies in the World in 2017

As far as defining what a great company is, you can’t go wrong with citing one of the 10 most profitable companies in the world in 2017 as an example.

Earning a lot of revenue is one thing; for instance, Wal-Mart Stores Inc. (NYSE:WMT), the company with the highest revenue in the world, easily pulls in almost half-a-trillion dollars in sales each year. But with net income of just $14 billion as of 2016 (a huge figure, yes, but still way down from half a trillion bucks), the company suddenly doesn’t look to be as attractive of an investment as it did when looking solely at its top-line results. That just goes to show that being a great company is more than just earning more revenue than the next guy; it’s also about ensuring that whatever you earn and spend on your business will get you to the maximum possible income. That way, a company not only earns a lot, but also takes home a lot of money efficiently.

Out of the 10 companies on this list, four are from the U.S, while another four are from China, reflective of the positions that the two economic giants have. Japan and Switzerland each have one company on the list as well, reaffirming the statuses of the two countries as some of the most affluent in the world. We also noted that seven of the companies on the list are banks (four from China, two from the U.S, and one from Switzerland), while the other three represent a holding company, a tech giant, and a car maker. This shows that less than a decade removed from the Great Recession, the seemingly-doomed financial institutions are again pulling in big bucks, albeit with a little help from China’s resurgence as a fast-growing economy.

Speaking of China, don’t miss the list of the 10 most profitable companies in China.

To put things into perspective (and to entertain and shock you with numbers), the combined net income of the 10 companies on this list is $284.71 billion, more than the entire gross domestic product of up to 173 countries in the world (or every country except the top 40 or so in terms of GDP). Meanwhile, the aforementioned half-a-trillion dollars in revenue pulled in by Wal-Mart easily outpaces the entire economies of all but 23 countries. Talk about the power of the 1%.

As for which of these companies — Agricultural Bank of China (OTCMKTS:ACGBY), Apple Inc. (NASDAQ:AAPL), Bank of China Ltd, Berkshire Hathaway Inc. (NYSE:BRK.A), China Construction Bank Corporation, Industrial and Commercial Bank of China, JPMorgan Chase & Co. (NYSE:JPM), Schweizerische Nationalbank (Swiss National Bank), Toyota Motor Corp (ADR) (NYSE:TM), and Wells Fargo & Co (NYSE:WFC) — ended up as the most profitable, head to the next page to begin the countdown of the 10 most profitable companies in the world in 2017, ranked in order of their net income for their fiscal year 2016.

10. Toyota Motor Corp (ADR) (NYSE:TM)

Net income for fiscal year 2016: $20.58 billion

Surpassing the $20 billion mark in net income, Toyota Motor Corp (ADR) (NYSE:TM) sets itself apart as the world’s most profitable car company, despite losing its ranking as the top selling automaker to Volkswagen in 2016.

9. Wells Fargo & Co (NYSE:WFC)

Net income for fiscal year 2016: $21.94 billion

Despite the sales scandal it fell into last year, Wells Fargo & Co (NYSE:WFC) still managed to ‘bank’ more than $21 billion.

8. Bank of China Ltd

Net income for fiscal year 2016: $23.70 billion

Bank of China Ltd is the Chinese “Big Four” bank with the most activity around the world, with operations in 27 countries.

7. Berkshire Hathaway Inc. (NYSE:BRK.A)

Net income for fiscal year 2016: $24.07 billion

The Warren Buffett-led Berkshire Hathaway Inc. (NYSE:BRK.A) earned about $10 billion in net income in 2011, less than half of the amount that it earned in 2016.

6. Schweizerische Nationalbank (Swiss National Bank)

Net income for fiscal year 2016: $24.10 billion

The only European company in this list of the 10 most profitable companies in the world in 2017 is Switzerland’s independent central bank, whose yearly income has swung wildly in the past few years (e.g., $38.95 billion in income in 2014, followed by $22.82 billion in losses in 2015).

5. JPMorgan Chase & Co. (NYSE:JPM)

Net income for fiscal year 2016: $24.73 billion

If first quarter 2017 trends are to be indicative of the year ahead for JPMorgan Chase & Co. (NYSE:JPM), it looks like the company could match its highly profitable 2016.

4. Agricultural Bank of China (OTCMKTS:ACGBY)

Net income for fiscal year 2016: $26.49 billion

The second of the “Big Four” banks in China that all made it to this list, the state-controlled Agricultural Bank of China fetched the world’s biggest IPO in 2011, only surpassed by fellow Chinese company Alibaba Group Holding Ltd (NYSE:BABA) two years later.

The next three companies on this list of the 10 most profitable companies in the world in 2017 each earned net income of more than $30 billion during their latest fiscal year.

3. China Construction Bank Corporation

Net income for fiscal year 2016: $33.34 billion

The second-most profitable Chinese bank on this list of most profitable companies in the world in 2017, China Construction Bank Corporation is also the second-most valuable based on market capitalization.

2. Industrial and Commercial Bank of China

Net income for fiscal year 2016: $40.07 billion

Considered the largest bank and public company in the world in terms of assets, Industrial and Commercial Bank of China outperformed all other companies in terms of profits in 2016, except for…

1. Apple Inc. (NASDAQ:AAPL)

Net income for fiscal year 2016: $45.69 billion

For at least two years running, Apple Inc. (NASDAQ:AAPL) has been the most profitable company in the world. The tech giant’s income this year is actually down from $53.39 billion in 2015, but it still retains the top position on this list of the 10 most profitable companies in the world in 2017.

Disclosure: None