Largest companies in US ranked
The are a number of ways to measure how large a company is. One of them is by looking at the company’s revenues i.e. the earnings the corporation earns regardless of the expenditures and the bottom line, which are the profits. By listing the companies in terms of revenues, you will understand that the biggest companies are not always the most profitable ones.
Following is some of America’s largest companies, measured by the revenues, as was listed by Fortune for the year 2008.
Revenue: US$378.8 billion
Previous ranking: 1
Founded by the legendary Sam Walton in 1962, Wal-Mart is currently the largest private employer in the world. The company contributes up to 20% of the overall retail market in the United States. Apart from its native country, Wal-Mart also has respectable presence in a number of foreign countries including Japan, Mexico, United Kingdom, Argentina, Brazil, Puerto Rico and Canada.
2. Exxon Mobil
Revenue: US$372.8 billion
Industry: Oil and Gas/Petroleum
Previous ranking: 2
Ranked second last year, ExxonMobil, which is part of a legacy of John D. Rockefeller, retains its place. Apart from maintaining its position, the company also recorded the highest profit among the companies in the list for its 5th year in a row. Exxon and Mobil, which used to be two separate companies, merged in 1999 to become the world’s largest oil and gas company. The company markets its products under the brands of Exxon, Mobil and Esso.
Revenue: US$210.8 billion
Industry: Oil and Gas/Petroleum
Previous ranking: 4
Established more than one hundred years ago, Chevron Corporation is headquartered in California and operates in more than 150 countries worldwide, employing close to 60,000 employees. The company has major engagement in exploration and production, refining, marketing, transportation, as well as power generation. The company is presently in an interesting phase of developing advanced energy technology which include photovoltaics, fuel cells, hydrogen fuel and so on.
4. General Motors
Revenue: US$182.3 billion
Previous ranking: 3
While dropping one position does not sound like a big deal, the company is in some sort of financial turmoil, as far as the profit is concerned. In fact, there was no profit recorded for last year’s ending, with a poor loss of close to US40 billion. Still, the company remains as one of the largest automakers, despite being chased by Japanese rival Toyota. GM employs more than 200,000 people worldwide, and market a range of well-known brands including Buick, Cadillac, GM Daewoo, Chevrolet, Opel, Pontiac and Saab.
Industry: Oil and Gas/Petroleum
Previous ranking: 5
ConocoPhillips was created out of merger between Conoco and Phillips in 2002, with the current headquarter located in Houston, Texas, United States. The company operates in more than 40 countries employing close to 40,000 employees worldwide. ConocoPhillips is also one of the companies in the oil and gas industry with biggest investment in the production of alternative energy, after the company was announced as one of the biggest polluters in the United States.
6. General Electric
Revenue: US$176.7 billion
Previous ranking: 6
General Electric was founded more than 130 years ago and underwent its most remarkable phase of growth under the leadership of Jack Welch as the CEO between 1981 and 2001. The initial history of the company’s establishment is closely related to the history every one knows of – the creation of the world’s first practical incandescent electric lamp. The GE we know today was as a result of a number of mergers and acquisitions.
7. Ford Motor
Revenue: US$172.5 billion
Previous ranking: 7
Ford is presently the secondly the US’ second largest car maker, after the GM, and is the world’s third largest car maker in terms of sales. The company was established in the 20th century by no other than Henry Ford, who in the formative years was only willing to paint the his cars black. Ford Motor Company then underwent from a small outfit into becoming one of the largest automaker in the world, until it was overtaken by Toyota and GM.
Revenue: US$159.2 billion
Previous ranking: 8
Last year, Citibank was the largest bank in the world but loses its places, slumping into the 7th largest bank overall. The main culprit comes in the form of risky subprime loan market which was put in turmoil for the last 6 months. Citibank is a pride of New York, where the first branch was opened and now headquartered. Citibank was the first bank in the US to open its operation outside of the country, as well as the first to contribute to the Federal Reserve Bank of New York.
9. Bank of America
Revenue: US$119.2 billion
Previous ranking: 9
In terms of market capitalization, Bank of America is bigger than Citibank but where revenue is concerned, the bank maintains its place in ninth for 2 consecutive years. Like Citibank, the company also suffered the blow of the subprime loans, albeit at smaller rate. The bank started its operation in California and soon grew through a series of mergers and acquisitions. Hiccups such losses and management restructuring has been threating the company but it survives until today.
Revenue: US$118.9 billion
Previous ranking: 27
AT&T, the US’ largest provider of telephony services, recorded a respectable revenue growth and jumped from number 27 to 10. The products and services offered by the company include local and long distance telephony services, DSL internet access and wireless solutions. The company was born in St. Louis, Missouri, and today have moved its head office to San Antonio, Texas. AT&T name came about was a result of a number of name changes.
11. Berkshire Hathaway
Revenue: US$118.2 billion
Previous ranking: 12
Berkshire Hathaway was first established as a textile manufacturing, but soon after taken over by investor cum fund manager Warrent Buffet, the company underwent a complete turnaround in terms of business as well as profitability. The company owns more than 70 subsidiaries which continue to generate revenues and profits, in a diverse range of financial area that encompass property and casualty insurance, reinsurance and specialty non-standard insurance.
12. JP Morgan Chase & Co.
Revenue: US$116.4 billion
Previous ranking: 11
As one of the oldest financial services firms in the world, JP Morgan continues to be the leader in financial services, investment banking, asset & wealth management, and equity market. Ironically, the company started its first business in the field of chemical production, under the name of New York Chemical Manufacturing Company. Business restructuring eventually led the company to begin operating in the banking industry, until today.
13. American International Group (AIG)
Revenue: US$110.1 billion
Previous ranking: 10
American International Group or AIG has is headquartered in New York, with major presence in the foreign market especially London, Paris and Hong Kong. Its very first operation started on the 20th century outside of the US in Shanghai, China when Cornelius Vander Starr became the first Westerner to offer insurance services to the Chinese people. His successful attempt then grew the company to other parts of Asia, Europe, Latin America as well as Middle East.
14. Hewlett Packard
Revenue: US$104.3 billion
Previous ranking: 14
Hewlett Packard maintains its place at 14th, and under the helm of new CEO Mark Hurd, the company overtook Dell as the world’s largest computer maker, and in the process outperformed IBM and Sun Microsystems in the server market. The company specializes in the manufacturing and distribution of personal computers, notebooks, printers, servers, digital cameras, calculators and network management solutions, and is based in Palo Alto, California.
Revenue: US$98.8 billion
Previous ranking: 15
IBM or its long name International Business Machine started as a computer maker and after under performing for quite sometime the company came back with a bang with involvement in other IT business solution and technology consulting. IBM to date produced the largest IPs (patents) in the United States, and employees who won the Nobel Prize and other prestigious awards. The company today employs more than 300,000 thousand employees worldwide, operating in more than 170 countries.
Ranking determined by: Revenue. Source: Fortune Global 500.