Which sectors are doing the best? A quick look at the top earning companies
News flash: The stock market and financial sector didn’t do too well in 2022.
But for the majority of business sectors, profits soared and shareholders got richer last year. The numbers might even surprise you a bit.
Visual Capital showed how the top earning corporations in all sectors fared during the past fiscal year (though January 31, 2023) in a recent infographic. (Data was pulled from Fortune.)
Here are the highlights:
| Leading Corporation | Industrial Sector | 2022 Profit | Change |
| 1. Apple | Technology | $99.8B | 5% |
| 2. ExxonMobil | Energy | $55.7B | 142% |
| 3. JPMorgan Chase | Finance | $37.7B | -22% |
| 4. Pfizer | Health Care | $31.3B | 42% |
| 5. Verizon | Telecommunications | $21.3B | -4% |
| 6. Home Depot | Retailers | $17.1B | 4% |
| 7. Visa | Credit services | $15.0B | 21% |
| 8. Procter & Gamble | Household items | $14.7B | 3% |
| 9. Tesla | Motor vehicles | $12.6B | 127% |
| 10. UPS | Transportation | $11.5B | -10% |
| 11. Coca-Cola | Food/beverages | $9.5B | -2% |
| 12. Nucor | Materials | $7.6B | 11% |
| 13. John Deere | Equipment | $7.1B | 19% |
| 14. McDonald’s | Hotels/restaurants | $6.2B | -18% |
| 15. Nike | Apparel | $6.0B | 5% |
| 16. DuPont | Chemicals | $5.9B | -9% |
| 17. D.R. Horton | Engineering/construction | $5.9B | 40% |
| 18. Lockheed Martin | Aerospace/defense | $5.7B | -9% |
| 19. Netflix | Media | $4.5B | -12% |
| 20. Walgreens | Drug stores | $4.3B | 70% |
| 21. W.W. Grainger | Wholesale | $1.5B | 48% |
Apple remains the most profitable company in the world. At least half of its net sales are iPhones.
ExxonMobil (and other giants in the oil & gas sector) racked up a record profit in 2022. Rising oil prices should mean another banner year is in the cards for the energy sector.
It remains to be seen if belt-tightening will improve the bottom lines of JPMorgan Chase and other big players in financial services in 2023.
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