25 Most Profitable Companies in the US

Published on May 2, 2024 at 12:20 pm by Ramish Cheema in Business, Lists, News

In this piece, we will take a look at the 25 most profitable companies in the US. If you want to skip our overview of the US economy and the current business climate, you can jump ahead to the 5 Most Profitable Companies in the US.

With the second quarter of 2024 with us, Wall Street is focused on determining whether companies that are investing in AI are actually bringing in money or whether they are investing costly capital to set themselves up for future growth. Firms that belong to the former sector, i.e. those that are making money from AI, have been rewarded as has been the case with Microsoft Corporation (NASDAQ:MSFT). Just like NVIDIA is Wall Street’s favorite AI stock when it comes to semiconductors needed to power up large data processing software, Microsoft is the king of the jungle when it comes to AI software. In the latter segment, the best example is Meta Platforms, Inc. (NASDAQ:META) whose shares have dropped after the latest earnings report revealed that 2024 will require an additional $40 billion in capital to fund AI growth.

This sharp eye on AI comes when investors are grappling with an economy that might be starting to slow down just as the Federal Reserve finds it difficult to tamp down on inflation. While the AI gold rush of 2023 put inflation and other macroeconomic indicators on the backdrop, after the inflation data for March 2024, they are back in the spotlight. This environment, which has left investors eager to flee away from stocks once again comes as profitability becomes key, particularly as profits are important to enable firms to position themselves for growth (such as is the case with AI stocks) or keep investors happy by paying out dividends.

US companies are also some of the biggest in the world when it comes to profits. America’s corporate sector, particularly the technology industry, is the most developed in the world. Firms such as Apple Inc. (NASDAQ:AAPL) and Amazon.com, Inc. (NASDAQ:AMZN) are able to compete with the world’s largest state owned enterprises when it comes to revenue. In fact, Apple is the first company in the world that has proven that technology and personal computing is a more lucrative industry than oil – a commodity that is responsible for powering daily lives. To understand how, consider that Apple’s trailing twelve month revenue as of December 2023 sits at a whopping $385 billion.

Now, compare this with the net sales of the Saudi state owned oil giant Saudi Arabian Oil Company (TADAWUL:2222.SR), which has raked in SAR2 trillion during the same time period. Using an exchange rate of 3.75 SAR to a dollar leads to approximately $530 billion in revenue for the Saudi oil giant. While naturally, Aramco’s revenue is higher since it does not have any comparable competitors on a global level, the fact that a consumer technology firm that is dependent not only on the need to stay abreast with innovation but also with what its rivals are doing is able to earn more than half of the revenue is something in itself to say the least.

As a whole, Insider Monkey also looked at the 30 Largest Companies in the World by Revenue. This shows that US companies reign supreme even though Aramco enjoys free access to the vast global crude oil market. The US retail giant Walmart Inc. (NYSE:WMT) tops this list courtesy of its $648 billion in sales, showing that a well run privately owned company has the full potential to take on massive state owned giants.

But what about profits? After all, even if a firm makes hundreds of billions of dollars in revenue, its investors get nothing if money does not flow through the income statement and into retained earnings. Today, we’ll look at some of the most profitable companies in America, with a couple of top picks being Berkshire Hathaway Inc. (NYSE:BRK-B), Apple Inc. (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT).

Photo by Christian Dubovan on Unsplash

Our Methodology

For our list of the most profitable companies in the US, we ranked all publicly listed US firms by their trailing twelve month net income available on Yahoo Finance and picked out those with the highest profit.

25 Most Profitable Companies in the US.

25. ConocoPhillips (NYSE:COP)

Trailing Twelve Month Net Income: $10.9 billion

ConocoPhillips (NYSE:COP) is an American oil and gas company headquartered in Houston, Texas. April 2024 proved to be a crucial month for the firm as it entered into a $9.5 billion deal with Shell for production assets in the U.S. Along with Apple Inc. (NASDAQ:AAPL), Berkshire Hathaway Inc. (NYSE:BRK-B), Apple Inc. (NASDAQ:AAPL),and Microsoft Corporation (NASDAQ:MSFT), ConocoPhillips (NYSE:COP) is one of the profitable companies in the US.

24. Mastercard Incorporated (NYSE:MA)*

Trailing Twelve Month Net Income: $11.1 billion

Mastercard Incorporated (NYSE:MA) is an American financial payments services provider. The firm kicked off May 2024 on a strong note after its latest financials saw Mastercard Incorporated (NYSE:MA) beat profit estimates but ended up cutting down guidance for 2024.

23. Verizon Communications Inc. (NYSE:VZ)

Trailing Twelve Month Net Income: $11.3 billion

Verizon Communications Inc. (NYSE:VZ) is an American telecommunications carrier headquartered in New York City. It ended April 2024 on a controversial note that saw the FCC fine the firm $46.9 million for improperly sharing customer data. Verizon Communications Inc. (NYSE:VZ), and other carriers contested the fine and denied wrongdoing.

22. Broadcom Inc. (NASDAQ:AVGO)

Trailing Twelve Month Net Income: $11.6 billion

Broadcom Inc. (NASDAQ:AVGO) is a semiconductor firm that primarily designs and sells connectivity products. Its much hyped acquisition of VMware remained at the center of attention in May 2024 after being criticized for cost increases and licensing concerns.

21. Cisco Systems, Inc. (NASDAQ:CSCO)

Trailing Twelve Month Net Income: $13.4 billion

Cisco Systems, Inc. (NASDAQ:CSCO) is an American communications products provider headquartered in San Francisco, California. The firm scored a win in May 2024 when a security tool backed by it secured a $150 million investment.

20. AT&T Inc. (NYSE:T)

Trailing Twelve Month Net Income: $14.1 billion

AT&T Inc. (NYSE:T) is an American telecommunications carrier. Like Verizon, it was also fined a hefty amount by the FCC in April 2024 for sharing customer data.

19. The Procter & Gamble Company (NYSE:PG)

Trailing Twelve Month Net Income: $14.8 billion

The Procter & Gamble Company (NYSE:PG) is one of the largest and oldest consumer goods companies in the world. Set up in 1837, it tried its hand at giving back to the community in April 2024 after providing relief goods to tornado victims in America.

18. The Home Depot, Inc. (NYSE:HD)

Trailing Twelve Month Net Income: $15.1 billion

The Home Depot, Inc. (NYSE:HD) is an American retailer that sells building and home improvement products. The average share price target is $388 and the average rating is Buy.

17. Comcast Corporation (NASDAQ:CMCSA)

Trailing Twelve Month Net Income: $15.4 billion

Comcast Corporation (NASDAQ:CMCSA) is one of the biggest media and broadcasting companies in the world. The firm’s latest earnings report saw it beat analyst revenue estimates on the back of strong performance by its streaming service. However, troubles in its broadband market continued to brew.

16. Walmart Inc. (NYSE:WMT)

Trailing Twelve Month Net Income: $15.5 billion

Walmart Inc. (NYSE:WMT) is the world’s largest brick and mortar retailer. It’s also one of the biggest companies in the world in terms of its revenue.

15. Federal National Mortgage Association (OTC:FNMAL)

Trailing Twelve Month Net Income: $17.4 billion

Federal National Mortgage Association (OTC:FNMAL) is a U.S. government backed mortgage association. The firm’s latest financial quarter saw it miss analyst revenue estimates of $7.8 billion by posting $7.1 billion in the segment.

14. Wells Fargo & Company (NYSE:WFC)

Trailing Twelve Month Net Income: $17.9 billion

Wells Fargo & Company (NYSE:WFC) is one of the biggest banks in America. The firm’s first quarter earnings report saw it beat analyst earnings and revenue estimates while net interest income dropped by 8%.

13. Visa Inc. (NYSE:V)

Trailing Twelve Month Net Income: $18.3 billion

Visa Inc. (NYSE:V) is another payment network and platform provider. Its first quarter earnings provided investors with some respite, as despite persistent inflation, consumer card spending jumped by 17%.

12. Chevron Corporation (NYSE:CVX)

Trailing Twelve Month Net Income: $21.3 billion

Chevron Corporation (NYSE:CVX) is an American oil major. May 2024 is seeing the firm expand its global operations base by targeting offshore sites in Australia and Namibia.

11. UnitedHealth Group Incorporated (NYSE:UNH)

Trailing Twelve Month Net Income: $22.3 billion

UnitedHealth Group Incorporated (NYSE:UNH) is an American healthcare coverage plan provider. Its Change Healthcare division’s hack earlier this year generated fresh controversy in April 2024 when it was revealed that nearly all hospitals in America had to deal with the blow back.

10. Bank of America Corporation (NYSE:BAC)

Trailing Twelve Month Net Income: $24.8 billion

Bank of America Corporation (NYSE:BAC) is another sizeable American bank. It teamed up with banking behemoth JPMorgan to declare that $4.5 billion in loans had soured due to consumers being unable to pay.

9. Amazon.com, Inc. (NASDAQ:AMZN)*

Trailing Twelve Month Net Income: $30.4 billion

Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest eCommerce retailer. The firm’s latest financials saw the stock soar as its profit more than triple, leading the shares to soar following the results.

8. Exxon Mobil Corporation (NYSE:XOM)

Trailing Twelve Month Net Income: $32.8 billion

Exxon Mobil Corporation (NYSE:XOM) is one of the biggest privately owned oil companies in the world. The firm scored a win in April 2024 after Cowen raised the share price target to $135 from $128 and kept a Buy rating on the shares.

7. Johnson & Johnson (NYSE:JNJ)

Trailing Twelve Month Net Income: $35.1 billion

Johnson & Johnson (NYSE:JNJ) is an American healthcare and personal wellness products provider. May 2024 saw the firm make some progress on its talc cancer lawsuit woes by offering $6.5 billion in settlement.

6. Meta Platforms, Inc. (NASDAQ:META)

Trailing Twelve Month Net Income: $45.7 billion

Meta Platforms, Inc. (NASDAQ:META) is the holding company for Facebook, Instagram, and WhatsApp. The firm’s latest earnings call saw CEO Mark Zuckerberg outline a portfolio of AR products that he believes will benefit from the AI revolution.

Berkshire Hathaway Inc. (NYSE:BRK-B), Apple Inc. (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT) are some of the most profitable companies in the US.

Click here to continue reading and see 5 Most Profitable Companies in the US.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on October 30, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a year later!

A New Dawn is Coming to U.S. Stocks

Published on November 16, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up