30 Biggest Companies in the World by 2023 Revenue
In this article, we will be taking a look at the 30 biggest companies in the world by 2023 revenue. If you want to skip our detailed analysis, you can go directly to see the 10 Biggest Companies in the World by 2023 Revenue.
The biggest companies in the world by 2023 revenue operate within a range of different market sectors, including retail, healthcare, technology, and oil and gas. First, let’s take a look at what some of the biggest companies in the world by revenue are up to.
Retail Giants Raise the Bar
The retail market ranks among the top industries in the world. Retailing involves buying directly from producers or from wholesalers, exhibiting products for sale either in-stores or online, and now it can sometimes also include delivery. According to Research and Markets, the global retail market was valued at around $26.2 trillion in 2022. Looking forward, the market is expected to grow at a compound annual growth rate of 7.4% during 2023-2027, propelling the market to reach $37.6 trillion by the end of the forecasted period.
E-commerce or online retail remains the fastest growing segment in the retail industry. With the growth of mobile devices and internet services, e-commerce has become a major shopping platform around the world. Companies in this space are working to improve customer satisfaction by offering a wide variety of different and customized items as well as quick deliveries. On July 31, Bloomberg reported that Amazon.com, Inc. (NASDAQ:AMZN) has announced their plans of doubling the number of US same-day delivery facilities in the coming years. Speedy delivery is of vital importance for the online shopping market leader. Amazon.com, Inc. (NASDAQ:AMZN) also said that it has delivered more than 1.8 billion units to Prime members in the US with same-day or one-day delivery so far this year, up about four times from the same period in 2019. Unlike bigger warehouses that are located near highways on the outskirts of cities, same-day facilities are smaller and closer to major population centers and allow Amazon.com, Inc. (NASDAQ:AMZN) to fulfill, sort, and deliver all from one site to accelerate the entire process of delivering customer packages.
Some of the biggest companies in the retail and e-commerce markets are also increasingly investing in drones to reduce delivery times and boost profitability. On August 24, Bloomberg reported that Walmart Inc. (NYSE:WMT) is teaming up with Alphabet Inc.'s (NASDAQ:GOOGL) Wing unit and planning its longest drone deliveries yet from two Dallas-area stores. According to the report, the Wing drones will be able to drop off household essentials and food items as far as 6 miles from the store and Walmart Inc. (NYSE:WMT) expects to be able to offer drone coverage to around 60,000 homes. This partnership marks a significant expansion in drone service and also shows how serious some of the retail giants are about using robotic aircraft to serve their customers.
Companies in Technology, Healthcare, and Energy to Reach New Heights
On July 19, Bloomberg reported that Apple Inc. (NASDAQ:AAPL) is quietly working on AI tools that could challenge OpenAI’s ChatGPT, Alphabet Inc.'s (NASDAQ:GOOGL) Google Bard and others. The company has built its own framework, known as ‘Ajax’, to create large language models, while also testing a chatbot that some engineers call ‘Apple GPT’. Generative AI has the potential to change how people interact with phones, computers and other technology, and Apple Inc.'s (NASDAQ:AAPL) devices could suffer if the big tech giant doesn’t keep up with AI advancements. According to the report, Apple Inc. (NASDAQ:AAPL) has yet to devise a clear strategy for releasing the technology to consumers, but the people familiar with the effort believe that the company is aiming to make a significant AI-related announcement next year.
The leading companies in the healthcare industry are working to provide a better quality of care as well as patient satisfaction. It is a massive industry, and it continues to grow as the population swells. According to the latest market research reports, future trends in healthcare include adoption of emerging health-focused technology. On August 11, Reuters reported that Britain’s Competition and Markets Authority (CMA) has provisionally cleared UnitedHealth Group Inc.’s (NYSE:UNH) $1.58 billion acquisition of the UK healthcare technology firm EMIS Group plc (LON:EMIS) as it found no competition concerns in the deal between specialist health care tech and software companies. UnitedHealth Group Inc. (NYSE:UNH) is one of the largest healthcare companies in the world, and it operates in the UK as Optum. It supplies software used by general practitioners within the National Health Service (NHS) to prescribe medicines to patients. Acquisition of EMIS Group plc is expected to bring more advanced technology solutions and capabilities to the NHS, and help general practitioners to improve patient care.
On June 1, Reuters reported that with the help of new technologies, Exxon Mobil Corporation (NYSE:XOM) is looking to double the amount of oil produced from its shale holdings in the US over a period of five years. In December 2022, Exxon Mobil Corporation (NYSE:XOM) had set a goal to produce between 900,000 to 1 million barrels of oil per day in the top US shale field, Permian Basin, by 2027, while also announcing plans for a five-year technology development programme. The post mentions that the CEO of Exxon Mobil Corporation (NYSE:XOM), Darren Woods, said that they currently recover about 10% of shale resources from its operations and that a lot of oil is still being left in the ground.
Developing new technology will help Exxon Mobil Corporation (NYSE:XOM) better identify acquisition targets as well as keep the fracks open better in order to boost oil flow and significantly improve recovery.
Now that we've discussed what some of the leading companies in some of the biggest industries are up to, let's take a look at the 30 biggest companies in the world by revenue as of 2023.
Methodology
In this article, we have listed the 30 biggest companies in the world by 2023 revenue. To rank the biggest companies in the world in terms of revenue, we consulted the Fortune Global 500 list, which is an annual ranking of the world's largest corporations based on their fiscal year revenues. While the list is published annually, we used data obtained for the latest year in their dataset, which is 2023. For companies that are not publicly traded, we used fiscal year revenues data from the Fortune Global 500 rankings. For companies that are publicly traded, we got their trailing twelve-month revenue from Yahoo Finance. We have listed the 30 biggest companies in the world by revenue as of 2023 below in ascending order.
30 Biggest Companies in the World by 2023 Revenue
30. Samsung Electronics Co. Ltd. (KRX:005930)
Revenue: $204.47 Billion
First up on our list of the 30 biggest companies in the world by 2023 revenue is Samsung Electronics Co. Ltd. (KRX:005930), which is a South Korean consumer electronics manufacturer. Their products are not limited to smartphones and tablets but also include home appliances. As a top quality electronic products manufacturer, Samsung Electronics Co. Ltd. (KRX:005930) has a trailing twelve months revenue of $204.47 billion.
Some of the top companies in the world by 2023 revenue are Amazon.com, Inc. (NASDAQ:AMZN), Walmart Inc. (NYSE:WMT), Apple Inc. (NASDAQ:AAPL), UnitedHealth Group Inc. (NYSE:UNH), and Exxon Mobil Corporation (NYSE:XOM).
29. Cardinal Health Inc. (NYSE:CAH)
Revenue: $205.01 Billion
Cardinal Health Inc. (NYSE:CAH) is an American healthcare service provider company. Its trailing twelve months revenue currently stands at $205.01 billion. Cardinal Health Inc. (NYSE:CAH) offers many services such as the distribution of medical equipment and pharmaceuticals.
28. Stellantis N.V. (NYSE:STLA)
Revenue: $205.07 Billion
Stellantis N.V. (NYSE:STLA) came into being after the merger of Italian Fiat Chrysler Automobiles and the French PSA Group. This multinational automotive corporation is headquartered in Amsterdam. As one of the biggest companies in the world by 2023 revenue, Stellantis N.V. (NYSE:STLA) has a trailing twelve months revenue of $205.07 billion.
27. Hon Hai Precision Industry Co. Ltd. (TPE:2317)
Revenue: $205.92 Billion
Hon Hai Precision Industry Co. Ltd. (TPE:2317), also known as Foxconn, is one of the world's largest manufacturers of contract electronics. Hon Hai Precision Industry Co. Ltd. (TPE:2317) has a trailing twelve months revenue of $205.92 billion.
26. Microsoft Corporation (NASDAQ:MSFT)
Revenue: $211.92 Billion
Founded by Bill Gates in 1975, Microsoft Corporation (NASDAQ:MSFT) is a multinational technology corporation and one of the biggest companies in the world by revenue as of 2023. Internet Explorer, Microsoft 365 and Windows are some of its key products. Microsoft Corporation (NASDAQ:MSFT) has a trailing twelve months revenue of $211.92 billion.
25. Chevron Corporation (NYSE:CVX)
Revenue: $214.09 Billion
Originally known as the Standard Oil Company of California, Chevron Corporation (NYSE:CVX) is a multinational energy corporation that is active in more than 175 countries. Their prime focus is on oil and gas refining and marketing. Chevron Corporation (NYSE:CVX) has a trailing twelve months revenue of $214.09 billion in 2023 so far.
24. Uniper SE (ETR:UN01)
Revenue: $226.49 Billion
Uniper SE (ETR:UN01) is a German state-owned energy company. It ranks among the biggest companies in the world by 2023 revenue and as an energy company it aims to ensure supply security and accelerate the transition of energy. Uniper SE (ETR:UN01) has a trailing twelve months revenue of $226.49 billion.
23. Glencore PLC (LON:GLEN)
Revenue: $228.96 Billion
Based in Switzerland, Glencore PLC (LON:GLEN) is a commodity trading and mining company. As one of the world's largest global diversified natural resource companies, Glencore PLC (LON:GLEN) has a trailing twelve months revenue of $228.96 billion in 2023 so far.
22. BP plc (NYSE:BP)
Revenue: $228.98 Billion
Based in London, England, BP plc (NYSE:BP) is a British multinational oil and gas company. With a trailing twelve months revenue of $228.98 billion in 2023 so far, BP plc (NYSE:BP) ranks among the biggest corporations in the world of gas and oil companies.
21. Costco Wholesale Corporation (NASDAQ:COST)
Revenue: $235.44 Billion
The US based Costco Wholesale Corporation (NASDAQ:COST) is an international chain of membership warehouses. They sell branded merchandise at lower prices than market rate. Costco Wholesale Corporation (NASDAQ:COST) has a trailing twelve months revenue of $235.44 billion and ranks among the biggest companies in the world by 2023 revenue.
20. TotalEnergies SE (NYSE:TTE)
Revenue: $238.68 Billion
TotalEnergies SE (NYSE:TTE) is one of the world's biggest oil companies. It is a multi-energy corporation that produces and markets natural gas, fuels, and electricity on a global level. TotalEnergies SE (NYSE:TTE) has a trailing twelve months revenue of $238.68 billion so far in 2023.
19. AmerisourceBergen Corporation (NYSE:ABC)
Revenue: $247.54 Billion
AmerisourceBergen Corporation (NYSE:ABC) came into being after the merger of AmeriSource Health Corporation and Bergen Brunswig Corporation. They are a wholesale company that provides distribution of drugs while also consulting medical businesses. As one of the biggest companies in the world by 2023 revenue, AmerisourceBergen Corporation (NYSE:ABC) has a trailing twelve months revenue of $247.54 billion.
18. Toyota Motor Corporation (NYSE:TM)
Revenue: $267.74 Billion
Toyota Motor Corporation (NYSE:TM) is one of the top vehicle manufacturers around the globe. Based in Japan, they manufacture more than 10 million vehicles per year. Toyota Motor Corporation (NYSE:TM) has a trailing twelve months revenue of $267.74 billion so far in 2023.
17. McKesson Corporation (NYSE:MCK)
Revenue: $276.71 Billion
Based in the US, McKesson Corporation (NYSE:MCK) is a medical and pharmaceutical distribution company. They supply medical equipment and care supply tools, making up a third of all supplies across North America. In 2023 so far, McKesson Corporation (NYSE:MCK) has a trailing twelve months revenue of $276.71 billion.
16. Volkswagen AG (ETR:VOW3)
Revenue: $287.71 Billion
Volkswagen AG (ETR:VOW3) is a German owned automobile manufacturer. As one of the biggest companies in the world by 2023 revenue, it has a trailing twelve months revenue of $287.71 billion in the present year so far. Volkswagen AG (ETR:VOW3) has a long intriguing history that has made it one of the most high quality automobile manufacturers in the world.
15. Alphabet Inc. (NASDAQ:GOOGL)
Revenue: $289.53 Billion
Alphabet Inc. (NASDAQ:GOOGL) is the parent company of Google and many former subsidiaries of Google. Headquartered in California, US, it ranks among the most dominant technology companies in the world as well as the biggest companies in the world by revenue. Alphabet Inc. (NASDAQ:GOOGL) currently has a trailing twelve months revenue of $289.53 billion.
14. China State Construction Engineering
Revenue: $305.88 Billion
The China State Construction Engineering, is a Chinese state owned company and a major general contractor in terms of overseas sales. As the largest construction company in the world by revenue, China State Construction Engineering generated a revenue of $305.88 billion in 2022.
13. Trafigura Group
Revenue: $318.48 Billion
Headquartered in Singapore, Trafigura Group is an independent, employee-owned physical trading and logistics business. It is a multinational commodity trading company and independently trades oil and petroleum products. As one of the biggest companies in the world by revenue, Trafigura Group generated a revenue of $318.48 billion in 2022.
12. CVS Health Corporation (NYSE:CVS)
Revenue: $330.92 Billion
CVS Health Corporation (NYSE:CVS) is another healthcare provider on our list of the 30 biggest companies in the world by 2023 revenue. It offers a variety of services through a number of different companies including CVS Pharmacy, CVS Caremark, and Aetna. CVS Health Corporation (NYSE:CVS) has a trailing twelve months revenue of $330.92 billion so far in 2023.
11. Berkshire Hathaway Inc. (NYSE:BRK-B)
Revenue: $332.94 Billion
Berkshire Hathaway Inc. (NYSE:BRK-B) is primarily an insurance company, however, it invests a great deal into its many subsidiaries. It is headquartered in Omaha, US, and focuses on property, casualty and accident insurance and reinsurance. As one of the biggest companies in the world by 2023 revenue, Berkshire Hathaway Inc. (NYSE:BRK-B) has a trailing twelve months revenue of $332.94 billion revenue in 2023 so far.
Some of the most popular stocks to buy according to hedge funds include Amazon.com, Inc. (NASDAQ:AMZN), Walmart Inc. (NYSE:WMT), Apple Inc. (NASDAQ:AAPL), UnitedHealth Group Inc. (NYSE:UNH), and Exxon Mobil Corporation (NYSE:XOM).
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