The 10 most profitable companies in America in 2020 have combined net profits exceeding $329 billion, while their total assets are worth nearly $3 trillion, all thanks to the capitalist’s dream that is America.
Every year, in fact every day, the gap between the rich and the poor in the US increases. The difference between the 1% and the 99% is stark, and it shows no signs of stopping. While the pandemic may have been hailed as the great equalizer, it has only served to increase this gap. After all, there’s a reason why, at the end of May, over 40 million people had lost their jobs while within the same time period, the net worth of America’s billionaires increased by an astounding $434 billion. This does not seem to be a survivable mode of operation but time will tell.
Jirsak/Shutterstock.com
Speaking about billionaires, Jeff Bezos recently attained the highest net worth of any individual in history, topping $171 billion. He could buy several nations if he ever felt the need to. All of this is due to Amazon (AMZN) becoming the biggest mode of shopping for people as they try to stay home. Amazon allows them to shop to their heart’s content at home, and also gives them a chance to pass the time. The combination of these two factors has led to Amazon reaching new highs. But despite Amazon’s increased success, it fails to find a way in our list of most profitable companies in America in 2020. That is because while it may have record revenues, it is still not as profitable as some of the other companies. This is partly because Amazon often goes for market penetration, pricing goods incredibly low (sometimes even at a loss) to destroy their competition and carve out their own market share. In fact for several years, Amazon failed to show a profit as it settled on increasing its presence now. While it is now profitable, it still has some way to go to achieve the heights of the companies on this list. In fact, this is a popular trend among the highest revenue earning companies. Walmart (NYSE:WMT), ExxonMobil (NYSE:XOM) and Amazon (NASDAQ:AMZN) are the top 3 companies in the US by revenue, and yet, only Walmart makes our list, and barely.
To determine our ranking, we have selected the companies within the United States with not only the highest profits, the data for which has been gathered from CEO World, but also companies with the highest return on assets, as that is a strong indicator for how effectively the company is able to convert the money invested within, into income. If you want to take a look at how many American companies are part of the 10 most profitable companies in the world in 2020, you can head on over to the link mentioned. So let’s take a look at the companies which are growing even as our economy shrinks, starting with number 10
10. Walmart (NYSE:WMT)
It may have revenues of over $500 billion and is the highest revenue earning company in the country, yet comparatively meager profits of nearly $15 billion and with the second lowest return on assets in the list at 6.3%, Walmart only barely makes the list.
