5 Most Profitable Industries in the US in 2024

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1. Banks (Money Center)

Industry Net Margin (2024): 30.89%

The banking industry (money center) ranks first on our list of the most profitable industries in the United States in 2024. Money centers are diversified large banks often located in economic hubs. These banks primarily cater to the government, other banks, and large corporations. One of the biggest companies in this industry is JPMorgan Chase & Co. (NYSE:JPM), to name a few. The company is one of the largest banks in the United States and is headquartered in New York City and Delaware. It provides investment banking solutions, foreign exchange services, wealth planning, and commercial banking services to millions of customers, businesses of all sizes, institutions, and the government. JPMorgan Chase & Co. (NYSE:JPM) has a trailing 12-month net income of $52.22 billion and a trailing 12-month revenue of $265.87 billion, as of June 30. As of August 16, JPMorgan Chase & Co. (NYSE:JPM) has a market capitalization of $607.93 billion.

To learn about other profitable industries in the United States, you can check out our detailed report 16 Most Profitable Industries in the US in 2024. At Insider Monkey, we delve into a variety of topics, ranging from the most profitable industries to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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