The World’s 50 Most Profitable Companies
Here is the list of the world’s most profitable companies in 2022:
|Rank||Company||Fortune Global 500 Rank||Profit ($M)||Profit Change|
|6||Industrial & Commercial Bank of China||22||54003||+18%|
|7||JPMorgan Chase & Co.||63||48334||+65.9%|
|8||China Construction Bank||24||46899||+19.4%|
|10||Agricultural Bank of China||28||37391||+19.5%|
|13||Bank of China||42||33573||+20.1%|
|15||Bank of America||105||31978||+78.7%|
|27||Goldman Sachs Group||195||21635||+128.7%|
|29||Taiwan Semiconductor Manufacturing||225||21209||+22.3%|
|30||Rio Tinto Group||201||21094||+115.9%|
|31||Johnson & Johnson||107||20878||+41.9%|
|36||China Merchants Bank||174||18592||+31.8%|
|42||Huawei Investment & Holding||96||17623||+88.2%|
|48||Ping An Insurance||25||15754||-24%|
The 2022 ranking of the world's most profitable companies is based on the financial statements of the largest corporations by net profit for 2021. Therefore, the ranking reflects positive expectations for a global economic recovery after the COVID-19 pandemic. In 2022, however, economic and geopolitical developments began to cloud the overly benign expectations for the near future. Yes, there is one less major global problem - the coronavirus pandemic seems to have passed. But other serious problems have come to the fore in 2022: a spike in inflation, a global supply chain crisis, a high chance of a recession in the US and EU countries, and the war in Ukraine unleashed by Putin's regime. In China, the economy continues to slow, and it’s difficult to disguise this with cheery official government statistics. Both the growth rates of revenue and net profit of Chinese corporations have slowed. Making matters worse for China's slowing economy is the country’s zero-tolerance COVID-19 (“zero-Covid” policy).
As a consequence of the recovery of high oil and gas prices, the oil and gas giants - Shell, ExxonMobil, TotalEnergies, and Petrobras - returned to the rating. Saudi Aramco again became the world’s most profitable company in 2022. A year earlier, it was displaced from first place by U.S. technology giant Apple. The long-term trend of developed economies to decarbonize, improve the energy efficiency of production facilities, and develop renewable energy remains in force, but the embargo on Russian oil and natural gas has created a medium-term problem for these countries.
About the Author
Sergey Karpenko is a co-founder of Asian-links.com and a value investor who has lived in Asia for many years.
Sergey believes that Asia has become the powerhouse for the global economy in the 21st century. Despite all its complexities, Asia offers tremendous opportunities for investors to get rich by cashing in on this vibrant region’s explosive growth.
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