In this article, we will be taking a look at the 15 largest companies headquartered in Ireland.
The third-largest island in Europe, Ireland boasts a highly developed knowledge which is focused on financial services, life sciences, high-tech and agribusiness. Considered to be an open economy, Ireland ranks top in the world for high-value foreign direct investment while in terms of GDP per capita, it ranks 4th in lists compiled by the International Monetary Fund as well as the the World Bank. All of this is even more impressive considering the fact that after consistent growth for 23 years, Ireland was badly affected by the global 2008 financial crisis after the collapse of the Irish property bubble, which resulted in the country entering a recession.
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Ireland’s economy finally rebounded in 2011, growing by 2.2%, followed by 0.2% in 2012, before plunging into another crisis driven by the European sovereign-debt crisis before rebounding again. There have been accusations that Ireland’s economic growth is distorted due to Ireland having favorable corporate tax regimes which has led to many major foreign companies merging with companies in Ireland and moving their headquarters to the company to take advantage of the aforesaid corporate tax regime. Mainly companies in the United States have decided to move their headquarters to Ireland starting with Accenture in 2009. To a lesser extent, the United Kingdom also has had companies moving their headquarters to Ireland. This has also been dubbed as “leprechaun economics” by economists while a few multinationals including the Central Bank of Ireland have proposed alternative methods of calculation. These moves, especially for companies in the United States have said to have reduced the effective tax rate on corporations from 30% to 20% while these corporations have highly artificially inflated the GDP of the country.
To determine the largest companies headquartered in Ireland, we headed over to Forbes Global 2000 list for 2022 and filtered out companies in Ireland. We then ranked these companies based on revenue, profits, assets and market value as of 29th October 2022. We then assigned 30% weightage to revenue, profits and market value, assigning 10% weightage to assets. This has allowed us to create a more accurate ranking. Please keep in mind that you will find a lot of companies listed on the New York Stock Exchange or on Nasdaq because of the fact that many companies in our list are American Irish companies. Some of the companies in our list are also among the biggest companies in Europe. So, without further ado, let’s take a look at some Irish giants, starting with number 15:
15. DCC
Total revenue of the company (in billions): 20.52
Total profits of the company (in millions): 408.4
Total assets of the company (in billions): 10.94
Total market value of the company as at 29th October 2022 (in billions): 5.6
DCC is a marketing, sales and support services company. Established half a century ago in Dublin, Ireland, the company operates in four sectors: LPG, Retail and Oil, Technology and Healthcare.
14. Smurfit Kappa Group
Total revenue of the company (in billions): 11.94
Total profits of the company (in millions): 802.2
Total assets of the company (in billions): 13.59
Total market value of the company as at 29th October 2022 (in billions): 8.6
The biggest corrugated packaging company in Europe, Smurfit Kappa Group is also among the biggest paper-based packaging companies globally. It is present in 22 countries in Europe and 13 in the Americas and in addition to its global Irish headquarters, also has regional headquarters in Amsterdam and Miami.
13. Experian
Total revenue of the company (in billions): 5.94
Total profits of the company (in millions): 985.4
Total assets of the company (in billions): 10.39
Total market value of the company as at 29th October 2022 (in billions): 29.8
Experian is a data analytics and consumer credit reporting company which collects data from over 1 billion people and businesses. This statistic includes 235 million U.S. individual customers in addition to around 25 million U.S. businesses. Experian also has operations in over 37 countries including the United States and the United Kingdom.
12. AerCap Holdings N.V. (NYSE:AER)
Total revenue of the company (in billions): 4.52
Total profits of the company (in millions): 1,000
Total assets of the company (in billions): 74.57
Total market value of the company as at 29th October 2022 (in billions): 13.1
AerCap Holdings N.V. (NYSE:AER) is the biggest aviation leasing company in the world across all segments including aircraft, helicopters and even engines. AerCap Holdings N.V. (NYSE:AER) owns more than 1,800 aircraft in addition to over 300 helicopters and 900 engines. In the second quarter of 2022, AerCap Holdings N.V. (NYSE:AER) had raised over $2.1 in funding is the biggest commercial aircraft owner in the world as well.
11. Kerry Group
Total revenue of the company (in billions): 8.69
Total profits of the company (in millions): 901.9
Total assets of the company (in billions): 12.96
Total market value of the company as at 29th October 2022 (in billions): 16.8
Kerry Group is a food company where the farmer suppliers of the company hold a significant interest in the company, with Kerry Coo-operative Creameries being its biggest shareholder. The company operates many notable brands which include Denny, Cheestrings, Dairygold, Wall’s and Low Low.
10. Aptiv PLC (NYSE:APTV)
Total revenue of the company (in billions): 15.62
Total profits of the company (in millions): 590
Total assets of the company (in billions): 18.01
Total market value of the company as at 29th October 2022 (in billions): 24.53
Aptiv PLC (NYSE:APTV) is an American Irish automotive technology company which is headquartered in Dublin. Aptiv PLC (NYSE:APTV) was established from Delphi Automotive Company, which itself is now defunct and which was a part of General Motors initially. Despite initially being incorporated in the United Kingdom, Aptiv PLC (NYSE:APTV) recently moved its headquarters to Ireland.
9. Bank of Ireland
Total revenue of the company (in billions): 8.37
Total profits of the company (in millions): 1,160
Total assets of the company (in billions): 176.57
Total market value of the company as at 29th October 2022 (in billions): 7.7
A genuinely Irish company makes our list of the biggest companies headquartered in Ireland, the Bank of Ireland is among the traditional Big Four Irish banks. It is considered to be the premier banking institution in the country.
8. Seagate Technology Holdings plc (NASDAQ:STX)
Total revenue of the company (in billions): 11.97
Total profits of the company (in millions): 1,840
Total assets of the company (in billions): 9.38
Total market value of the company as at 29th October 2022 (in billions): 10.6
Seagate Technology Holdings plc (NASDAQ:STX) is an American data storage company. If you’ve needed a hard drive, and you most likely have, you must be aware of Seagate Technology Holdings plc (NASDAQ:STX) which dominates the hard drive market along with Western Digital. Seagate Technology Holdings plc (NASDAQ:STX) has continued to grow at a fast pace along with making major acquisitions including Samsung’s HDD business in 2011.
7. Trane Technologies plc (NYSE:TT)
Total revenue of the company (in billions): 14.14
Total profits of the company (in millions): 1,420
Total assets of the company (in billions): 18.06
Total market value of the company as at 29th October 2022 (in billions): 37.3
Trane Technologies plc (NYSE:TT) is an Irish company which is involved in the manufacture of refrigeration systems, ventilation, air conditioning, heating and ventilation. Trane Technologies plc (NYSE:TT) is over 150 years ago and has been reformed several times through mergers, acquisitions and spin-offs. In 2020, Trane Technologies plc (NYSE:TT) spun off its tool business.
6. Aon plc (NYSE:AON)
Total revenue of the company (in billions): 12.19
Total profits of the company (in millions): 1,250
Total assets of the company (in billions): 31.92
Total market value of the company as at 29th October 2022 (in billions): 61
Aon plc (NYSE:AON) is a financial services firm which provides various risk-mitigation products including but not limited to wealth, reinsurance, investment and commercial risk. With more than 50,000 employees and operations in around 120 countries, Aon plc (NYSE:AON) is one of the biggest financial services companies in Europe. While Aon plc (NYSE:AON) has managed organic growth, it has also grown to several acquisitions over the previous decades.
5. Johnson Controls International plc (NYSE:JCI)
Total revenue of the company (in billions): 24.19
Total profits of the company (in millions): 1,570
Total assets of the company (in billions): 42.22
Total market value of the company as at 29th October 2022 (in billions): 40.4
We have several American Irish companies in our list and Johnson Controls International plc (NYSE:JCI) is no exception. Formed in 2016 through the incarnation of Johnson Controls with Tyco International, the latter being an Irish company, Johnson Controls International plc (NYSE:JCI) maintains over 2,000 locations in six continents and has close to 100,000 employees.
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4. Eaton Corporation plc (NYSE:ETN)
Total revenue of the company (in billions): 19.63
Total profits of the company (in millions): 2,140
Total assets of the company (in billions): 34.03
Total market value of the company as at 29th October 2022 (in billions): 59.9
Eaton Corporation plc (NYSE:ETN) is an American Irish power management company. With customers in more than 175 countries and boasting over 86,000 employees, Eaton Corporation plc (NYSE:ETN) is among the biggest power management companies headquartered in Europe. After purchasing Ireland-based Cooper Industries in a deal worth over $11 billion, the company relocated its headquarters to Ireland though the operational headquarters are still located in Ohio.
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3. CRH plc (NYSE:CRH)
Total revenue of the company (in billions): 31
Total profits of the company (in millions): 2,570
Total assets of the company (in billions): 44.67
Total market value of the company as at 29th October 2022 (in billions): 27.4
CRH plc (NYSE:CRH) is a building materials company which provides manufacturing services in addition to acting as a supplier for various products in the construction industry. CRH plc (NYSE:CRH) may be listed on the New York Stock Exchange but it is a pure Irish company, having been formed in 1970 after the merger of two leading Irish construction companies. CRH plc (NYSE:CRH) is also listed on the London Stock Exchange and has more than 77,000 employees.
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2. Medtronic plc (NYSE:MDT)
Total revenue of the company (in billions): 31.79
Total profits of the company (in millions): 4,910
Total assets of the company (in billions): 91.8
Total market value of the company as at 29th October 2022 (in billions): 115.4
Medtronic plc (NYSE:MDT) is an American company which is headquartered in Ireland, as are many in our list of the biggest companies headquartered in Ireland. Medtronic plc (NYSE:MDT) moved its headquarters to Ireland in 2015 after acquiring Irish-based Covidien. Operating in over 150 countries, Medtronic plc (NYSE:MDT) employs around 90,000 people and is among the biggest medical device companies in the world.
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1. Accenture plc (NYSE:ACN)
Total revenue of the company (in billions): 56.7
Total profits of the company (in millions): 6,390
Total assets of the company (in billions): 44.32
Total market value of the company as at 29th October 2022 (in billions): 181.5
Accenture plc (NYSE:ACN) easily tops the list of the 15 biggest companies headquartered in Ireland and is among the biggest companies in Europe as well. A professionals services firm, Accenture plc (NYSE:ACN) was founded 33 years ago but moved its headquarters to Ireland in 2009. 91 of the Fortune Global 100 are clients of Accenture plc (NYSE:ACN) while over 75% of the Global 500 are clients of the company as well. Accenture plc (NYSE:ACN) emerged from Arthur Anderson, the infamous accounting firm which collapsed in 2002 after its part in the Enron and Worldcom accounting scandals.
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Disclosure: No position. 15 largest companies headquartered in Ireland is originally published at Insider Monkey.
