See the world’s top companies by revenue in 2024
U.S. retail giants and global energy heavyweights dominate the list of the world’s top companies by revenue in 2024, according to data from Fortune.
Walmart, the American retail behemoth, retains its position as the world’s largest company by revenue, generating $648.1 billion. Amazon follows closely with $574.8 billion, showcasing the strength of U.S. consumer-driven businesses. The dominance of American companies reflects the robust spending power of the domestic market and the global reach of these enterprises.
A Look at the Rankings
Here are the top 10 companies by revenue in 2024:
Walmart ($648.1B) – 🇺🇸 U.S.
Amazon ($574.8B) – 🇺🇸 U.S.
State Grid ($545.9B) – 🇨🇳 China
Saudi Aramco ($494.9B) – 🇸🇦 Saudi Arabia
Sinopec Group ($429.7B) – 🇨🇳 China
China National Petroleum ($421.7B) – 🇨🇳 China
Apple ($383.3B) – 🇺🇸 U.S.
UnitedHealth Group ($371.6B) – 🇺🇸 U.S.
Berkshire Hathaway ($364.5B) – 🇺🇸 U.S.
CVS Health ($357.8B) – 🇺🇸 U.S.
Global Reach and Key Drivers
Walmart remains unparalleled in revenue generation, earning nearly $74 million every hour. The company benefits from its vast network of stores and e-commerce platforms, with U.S. sales contributing 68% of its total revenue. Since 2019, domestic revenues have surged by 36%, highlighting the resilience of its business model.
Meanwhile, Amazon has seen its revenue more than double in five years, fueled by growth in cloud computing, subscription services, and advertising. The e-commerce giant is set to expand further in 2025 by entering the vehicle sales market in the U.S.
On the other side of the globe, State Grid, China’s state-owned utility firm, ranks third with $545.9 billion in revenue. The company’s acquisition of major electricity distributors in Chile underscores its global ambitions. Similarly, Sinopec Group and China National Petroleum, also state-owned, benefit from their dominance in global oil production and refining capacities. Sinopec, in particular, leads the world in oil refining with a daily capacity of 5.2 million barrels.
Industry Insights
The rankings highlight the significance of the energy sector, with Saudi Aramco ($494.9B) representing the Middle East and multiple Chinese energy firms featuring prominently. The list also underscores the dominance of U.S. companies across diverse sectors, from technology (Apple at $383.3B) to healthcare (UnitedHealth Group at $371.6B).
European representation comes through companies like Volkswagen and Shell, while Asia showcases industrial powerhouses like Toyota and Samsung.
Conclusion
This year’s rankings reveal a continued shift towards energy and technology dominance in the global economy. U.S. retail and tech giants remain resilient, while state-owned firms in China and the Middle East leverage their natural resources and expansive infrastructure to maintain a foothold among the world’s top earners.
As global markets evolve, these companies’ adaptability and innovation will shape the business landscape for years to come.
Top 30 Companies by Revenue in 2024;
Walmart – $648.1 billion
Amazon – $574.8 billion
State Grid – $545.9 billion
Saudi Aramco – $494.9 billion
Sinopec Group – $429.7 billion
China National Petroleum – $421.7 billion
Apple – $383.3 billion
UnitedHealth Group – $371.6 billion
Berkshire Hathaway – $364.5 billion
CVS Health – $357.8 billion
Volkswagen – $348.4 billion
Exxon Mobil – $344.6 billion
Shell – $323.2 billion
China State Construction Engineering – $320.4 billion
Toyota Motor – $312.0 billion
McKesson – $309.0 billion
Alphabet – $307.4 billion
Cencora – $262.2 billion
Trafigura Group – $244.3 billion
Costco Wholesale – $242.3 billion
JPMorgan Chase – $239.4 billion
Industrial & Commercial Bank of China – $222.5 billion
TotalEnergies – $218.9 billion
Glencore – $217.8 billion
BP – $213.0 billion
Microsoft – $211.9 billion
Cardinal Health – $205.0 billion
Stellantis – $204.9 billion
Chevron – $200.9 billion
China Construction Bank – $199.8 billion