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In the latest Fortune Global 500 list, Walmart remains at the top, while Nvidia, Chery, Pinduoduo and other companies are on the list for the first time.

On August 5, Fortune magazine released the latest Fortune Global 500 list. The list shows that China has 133 companies on the list this year, 9 fewer than last year's 142, of which 128 are from mainland China (including Hong Kong), 7 fewer than last year. The United States has 139 companies on the list this year, 3 more than last year, ranking first among all countries. Japan ranks third in the number of companies on the list, with a total of 40 companies on the list, 1 less than last year.

The ranking list shows that, based on operating income, Walmart has been the world's largest company for the eleventh consecutive year, with revenue of $648.1 billion. Amazon returned to second place, and China's State Grid Corporation continued to rank third. Saudi Aramco and Sinopec ranked fourth and fifth respectively, and PetroChina, Apple, UnitedHealth, Berkshire, CVS, Volkswagen and ExxonMobil ranked 6th to 10th. There are a total of 43 "new and re-listed" companies on the list. Among the companies that made the list for the first time this year, Nvidia ranked the highest, ranking 222nd. Among the Chinese companies, Chery, Hangzhou Industrial Investment Group and Pinduoduo are all on the list for the first time.

Top 12 companies by revenue

According to Fortune, the operating conditions of Fortune Global 500 companies have further improved compared with the previous year, with an increase in five indicators: revenue, profit, total assets, net assets and number of employees. Among them, the total operating revenue of the top 500 companies in 2023 reached a record high of 40.99 trillion US dollars. The sales revenue of Samsung C&T, the last company on the list this year, was 32.078 billion US dollars, becoming a new threshold for entering the world's top 500.

The total net profit of all listed companies in 2023 increased by 2.3% year-on-year to approximately US$2.97 trillion. In addition to the total profit being slightly lower than that in 2022, the 500 companies on the list set new records in terms of total assets, total net assets and total number of employees since the establishment of the Fortune Global 500 list.

Top 10 companies by profit

In terms of profit, Saudi Aramco is the most profitable company with a profit of US$120.699 billion. Apple ranks second and Berkshire ranks third. The 4th to 10th places are Google's parent company Alphabet, Microsoft, Industrial and Commercial Bank of China, JPMorgan Chase, China Construction Bank, Meta and Agricultural Bank of China.

According to statistics, about two-thirds of the companies on the list and their revenue and profits come from the United States, China and Japan. Among the 133 Chinese companies on the list this year, the total revenue in 2023 is about 11 trillion US dollars, a decrease of about 6% compared with the 142 companies on the list last year; the average operating income is about 83 billion US dollars, lower than the 99 billion US dollars of American companies on the list, slightly higher than the average of all 500 companies on the list; the average profit is about 3.9 billion US dollars, lower than the 8.8 billion US dollars of American companies and the average profit of 5.9 billion US dollars of all 500 companies on the list.

In terms of business areas, Chinese companies have made outstanding progress in the field of "automobiles and auto parts", with a total of 10 Chinese automobile and auto parts companies on the latest list. Among these 10 companies, Chery made the list for the first time, ranking 385th with a revenue of US$39.1 billion. The rankings of the other 9 companies also rose year-on-year. Among them, BYD's revenue increased from US$63 billion in 2022 to US$85.1 billion, and its ranking rose by 69 places. At the same time, after CATL made its first appearance on the list in 2023, its revenue this year increased from US$48.8 billion to US$56.6 billion. Geely's revenue also increased from US$60.4 billion to US$70.4 billion, and its ranking rose by 40 places.

In addition, the rankings of large companies in the Internet sector have risen overall. Among the five Internet giants, except for Alibaba, which dropped two places, the rankings of JD.com, Tencent and Meituan have all improved. At the same time, Pinduoduo has made the list for the first time. Meituan has become the Chinese company with the largest ranking improvement on the list, jumping 83 places to 384th. JD.com Group also entered the top 50 of the list again with a revenue of US$153.217 billion, ranking 47th, surpassing China Ping An Insurance Group, which ranked 53rd.

The high-tech field in the business field is the forefront of global technological development and the focus of global competition. According to the classification of Fortune, this business field includes companies classified as networks, communication equipment, Internet services, computers, electronic and electrical equipment, semiconductor components, computer software, artificial intelligence, etc.

There are 33 high-tech companies on this year's list, with an average operating income of $88.2 billion and an average profit of $14.6 billion, which is one of the industries with the highest operating profit margins. Huawei is still the leader among Chinese companies in this field, ranking 103rd with sales of $99.47 billion in 2023 and profits of $12.274 billion.

Among these 33 high-tech companies, 16 are from the United States, with an average operating income of $102.6 billion and a profit of $23.6 billion. Only four American technology giants, Apple, Google's parent company Alphabet, Microsoft and Meta, created a net profit of $282.2 billion. There are 17 non-US high-tech companies, including 6 mainland Chinese companies, with an average operating income of $74.6 billion and an average profit of only $6.3 billion.

In the profit margin list, Visa ranked first with a net profit margin of over 52%. Three of the top five companies with the highest profit margins are from the semiconductor and electronic components industry, namely Nvidia, TSMC and Broadcom.

In the ROE list, Home Depot topped the list with a ROE of over 1,450%, Oracle jumped to second place with a ROE of over 792%, Cencora and Apple ranked third and fourth respectively. Among the 50 companies with the highest ROE, there are only two Chinese companies: Chery ranked 40th with a ROE of 35%, and Pinduoduo ranked 47th.