What are the most profitable industries out there, and the most profitable companies within each of them? The research team with Cloud Peak Law Group set out to find out, and did so by analyzing the profits of every company featured on the Fortune 500 list, to determine the most profitable company in every industry.
According to their research, the most profitable company in the United States is Apple, which recorded $94.68 billion in profit during the 2022 fiscal year (which ran from September 26, 2021 through September 24, 2022). When it comes to technology companies, Apple is definitely the most profitable by far, but Alphabet, which is Google’s only parent company, is a close competitor with $76.03 billion in profits over the last year.
Berkshire Hathaway is also an extremely profitable company in the United States, having recorded $89.8 billion in profit during this stretch of time. In fact, Berkshire Hathaway’s profits were so impressive that they saw an unbelievable increase of 111.2% in profits over the previous year. Because of this, Berkshire Hathaway is the most profitable company in the financial space, with JPMorgan Chase following behind in the second spot, having recorded $48.33 billion in profits during this time.
According to the research conducted by the team at Cloud Peak Law Group, it was found that aside from Apple, Berkshire Hathaway, Alphabet, and JPMorgan Chase, the only companies in the top ten most profitable in the United States include several notable companies. These include Microsoft with $61.27 billion in profit, Meta Platforms with $39.37 billion in profit, Amazon with $33.364 billion in profit, Bank of America with $31.98 billion in profit, ExxonMobil with $23.04 billion in profit, and Fannie Mae with $22.18 billion in profit. While these are the most profitable companies in the United States, the world’s most profitable company would be Saudi Aramco, a natural gas and petroleum company, which earned $105.37 billion in profit during this same stretch of time.