How Much Profit Do the World’s Biggest Companies Keep?

# Overview The world's largest companies generate enormous revenues, but the share that becomes reported profit varies sharply. Using Fortune Global 500 data for 2026, Visual Capitalist ranked the 30 biggest companies by profit per $100 in revenue. The result shows concentrated margins at the top among technology firms and very slim margins for many retailers, manufacturers, and commodity businesses.

# The ranking in brief Nvidia sits at the top, generating $55.60 of profit for every $100 in revenue and reporting $120 billion in profit. Big Tech firms follow: Microsoft earns $36.10 per $100 ($102B profit), Alphabet $32.80 ($132B), Meta $30.10 ($60B), and Apple $26.90 ($112B). At the other extreme, several large companies keep very little: Cardinal Health earns $0.70 per $100, Cencora $0.50, CVS Health $0.40, and Glencore only $0.10.

Other notable placements: major banks and energy firms sit in the middle. Industrial & Commercial Bank of China registers $24.30 per $100, Saudi Aramco $20.80, and JPMorgan Chase $20.30. Retail giants show slim margins—Walmart $3.10, Costco $2.90—while commodity-heavy names such as Sinopec and China National Petroleum post $1.40 and $5.30 respectively.

# Why margins diverge The primary driver is business model economics. Software and digital-platform businesses scale revenue with relatively low incremental cost per additional user, so a large portion of revenue drops to the bottom line after fixed costs are covered. Hardware, retail, manufacturing, and energy businesses face ongoing variable costs: inventory, raw materials, labor, logistics, and production expenses compress margins.

Accounting treatments in the ranking follow a clear definition: profits shown are after taxes, extraordinary credits or charges, accounting changes, and noncontrolling interests, but before preferred dividends. That makes the figures comparable on a net-profit basis across diverse industries.

# AI and the margin picture The ranking reflects current business models, but capital dynamics are shifting. Microsoft, Alphabet, Meta, and Amazon are investing heavily in AI infrastructure. Visual Capitalist notes hyperscaler capital spending is on track to hit $785 billion in 2026 and approach $1 trillion in 2027. Those investments increase server, GPU, and data-center costs and therefore raise the capital intensity of platform businesses.

That shift has two implications. First, suppliers of AI hardware and enabling software—Nvidia is the clear example—can capture outsized margins as demand for specialized chips and ecosystems rises. Second, the companies building and operating large AI models face rising capital costs that could narrow their margins over time if revenue growth doesn't offset higher infrastructure spending.

# What to watch next

• Changes in hyperscaler capital spending and how those costs are recorded in operating accounts. Rising capital expenditure can depress near-term margins even if long-term revenue opportunities expand.

• Margin movements in retail, healthcare, and energy as supply-chain pressures, commodity cycles, and regulatory changes alter cost structures.