Which Companies Generated Highest Revenue In 2021?

Walmart’s 2021 annual financial report shows that the American multinational retail corporation made more than a half trillion dollars in revenue, making it no. 1 largest company in the world by revenue generation.

Walmart closely followed by another American multinational e-commerce firm Amazon, one of the world’s valuable companies.

Although, Walmart generated $102 Billion more than its close competitor, Amazon was able to pull $469.8 Billion in revenue, according to the company’s full financial year 2021.

The third, fourth, and the fifth are Chinese companies: State Grid Corporation of China, Sinopec, and PetroChina with $461 Billion, $414.6 Billion, and $404.6 Billion respectively.

largest revenue-generating companies in the world

What is a company’s revenue?

In this context, revenue is the total amount of income generated by a company through sales and services without subtracting expenses.

Which country is the biggest by revenue?

On the top 10, the world’s largest two economies, the United States and China, have four companies each headquartered in their territory.

In the top 50, the U.S have 20 companies while China has 14 on the list. Despite the U.S taking the lead, the list is a reflection of the economic competition between the two super-power countries.

What are the top revenue-generating companies in 2021?

The list of biggest firms by revenue generation gives a glimpse of which companies raked in the most revenue through sales of goods and services around the world in 2021.

1) Walmart (WMT):

Revenue: $571.9 Billion USD
Net income: $13.51 Billion
Market capitalization: $401.35 B
Founder: Sam Walton
Establishment date: July 2, 1962
Number of employee: 2.3 million
Industry: Retail

As of December 17, 2022, the market capitalization of Walmart was $384.96 Billion USD. In 2020, the retail company generated $548.74 Billion in revenue with $29.27 Billion earnings during the pandemic year.

2) Amazon (AMZN):

Revenue: $469.8 Billion USD
Net income: $33.36 Billion
Market capitalization: $$1.691 Trillion
Founder: Jeff Bezos
Establishment date: July 4, 1994
Number of employee: 1.4 million workers
Industry: Retail

Founded by Jess Bezos who would later become one of the wealthiest people, Amazon’s revenue in 2020 was $386.06 Billion USD, but after the pandemic e-commerce added over $80 billion to its revenue.

3) State Grid

Revenue: $461 Billion
Net income: $7.1 Billion USD
Founder: Chinese-owned
Establishment date: 2002
Number of employee: 1.5 million workers
Industry: Power

The State Grid Corporation of China (SGCC) is Chinese-owned largest electric utility corporation.

Relying on the population figure of China, State Grid reportedly has over a billion customers, no wonder it generated $461 Billion USD in 2021.

4) Sinopec:

Revenue: $414.6 Billion
Net income: $11.18 Billion
Market capitalization: $11.81 Billion
Founder: Chinese-owned
Establishment date: February 25, 2000
Number of employee: 249,142 (2018 data)
Industry: Oil and gas

Sinopec Group is the largest oil refining and petrochemical conglomerate in the World. It is headquartered in Chaoyang District, Beijing.

5) PetroChina:

Revenue: $404.6 Billion
Net income: $26.75 Billion
Market capitalization: $134.16 Billion
Founder: China government
Establishment date: November 5,1999
Number of employee: Over 400,000 in 2020
Industry: Oil and gas

PetroChina Company Limited is an extended arm of China National Petroleum Corporation (CNPC), specialising in oil and gas with its headquarter in Dongcheng District, Beijing. It is the largest oil and gas producer in Asia. It traded in Hong Kong and New York.

6) Apple Inc

Revenue: $394.3 Billion
Net income: $94.68 Billion
Market capitalization: $2.91 Trillion
Founder: Steve Jobs, Steve Wozniak, Ronald Wayne
Establishment date: April 1, 1976
Number of employee: 164,000
Industry: Technology

The annual financial report of Apple reveals that the tech company 8% more revenue in 2021 than the previous year (2020).

“We are deeply committed to protecting the environment, to securing user privacy, to strengthening accessibility, and to creating products and services that can unlock humanity’s full creative potential,” Tim Cook, Apple’s CEO, said in an official statement published by the firm.
apple.com

Apple Inc generated more revenue than any other tech company in 2021, no wonder it’s the only technology company that made the top 10 companies with highest revenue in the year under review.

Next to Apple is Google which was in 14th position with $257.6 Billion revenue in 2021, according to GlobalData.

7) Saudi Aramco

Revenue: $359.5 Billion
Net income: $110.0 Billion
Market capitalization: $1.908 Trillion
Founder: Saudi Arabia government
Establishment date: May 29, 1933
Number of employee: 66,800 (as of 2020)
Industry: Oil and gas

At the time of this report, Saudi Aramco’s market cap stood at $1.801 Trillion. Its market cap ended $1.908 Trillion in 2021.

The Saudi Arabian Oil Company or Saudi Aramco was formerly known as Arabian-American Oil Company, it is one of the largest oil companies in the world.

Apart from being the largest oil company by revenue in Arab countries, Aramco also has the largest proven oil reserves.

By the number of daily production, Aramco produces more than any other oil company.

8) China State Construction Engineering Corporation (CSCEC)

Revenue: $293.7 Billion
Net income: $15.62 Billion
Market capitalization: $32.91 Billion
Founder: Chinese government
Establishment date: 1957
Number of employee: 368, 327 (as of 2021)
Industry: Construction

China State Construction and Engineering or CSCEC is the largest construction company in the world with project across the world, especially in African countries.

The company pulled $236.43 Billion revenue in 2020, but in 2021, pulled over $293 B revenue, making it one of the most successful companies by revenue in 2021.

The annual review of its CSCES’s financial report shows that the company keeps getting better than its previous year.

“The Company achieved a total operating revenue of RMB1.89 trillion and net profit attributable to the parent company of RMB51.41 billion for the year of 2021, a YOY increase of 17.1% and 14.4% respectively. CSCEC ranked 13th in Fortune Global 500 in 2021,” statement by the company says.

9) CVS Health

Revenue: $292.1 Billion
Net income: $7.91 Billion
Market capitalization: $136.17 Billion
Founder: Stanley Goldstein, Ralph Hoagland, Sidney Goldstein
Date founded: May 8, 1963
Number of employee: 300,000 (in 2021)
Industry: Health

CVS Health Corporation is an American healthcare company that owns many health brands. It is notable to have acquired many health firms.

10) Volkswagen

Revenue: $291.3 Billion
Net income: $17.6 Billion
Market capitalization: $128 Billion
Founder: German Labor Front
Establishment date: May 28, 1937
Number of employee: 667,647 (at 2021)
Industry: Automotive

Volkswagen Group, a German-based firm, generated the highest revenue in the automotive industry in 2021.

Volkswagen generated more revenue more than Ford and BMW combined in 2021. Notably, 40% of sales and profits of Volkswagen come from China

Below is the list top 50 top revenue-generating companies in 2021

Ranking	Companies	2021 Revenue	Headquarters
1	Walmart	$571.9 Billion	United States
2	Amazon	$469.8 Billion	United States
3	State Grid	$461 Billion	China
4	Sinopec	$414.6 Billion	China
5	PetroChina	$404.6 Billion	China
6	Apple	$394.3 Billion	United States
7	Aramco	$359.5 Billion	Saudi Arabia
8	CSCEC	$293.7 Billion	China
9	CVS	$292.1 Billion	United States
10	Volkswagen	$291.3 Billion	Germany
11	UnitedHealthCare	$287.6 Billion	United States
12	Toyota	$276.5 Billion	Japan
13	Shell Plc	$261.5 Billion	United Kingdom
14	Google	$257.6 Billion	United States
15	Samsung	$240.7 Billion	South Korea
16	Ping An Insurance	$199.6 Billion	China
17	Costco Wholesale	$195.9 Billion	United States
18	Mercedez-Benz	$176.4 Billion	Germany
19	AT&T	$168.9 Billion	United States
20	Microsoft	$168 Billion	United States
21	CRCC	$157.8 Billion	China
22	Bank of China	$152.2 Billion	China
23	JD.com	$149.3 Billion	China
24	Home Depot	$147.6 Billion	United States
25	ICBC	$145.3 Billion	China
26	Allianz Group	$144.6 Billion	Germany
27	Mitsubishi Group	$144.03 Billion	Japan
28	Ford	$136.3 Billion	United States
29	Walgreens	$134.9 Billion	United States
30	Verizon	$133.6 Billion	United States
31	BMW	$131.6 Billion	Germany
32	China Mobile	$131.2 Billion	China
33	TATA Group	$128 Billion	India
34	Honda	$127.7 Billion	Japan
35	Chase Bank	$127.2 Billion	United States
36	China Construction Bank	$127.1 Billion	China
37	Deutsche Telekom	$126.2 Billion	Germany
38	JPMorgan	$121.7 Billion	United States
39	Aldi	$121.1 Billion	Germany
40	Facebook	$117.9 Billion	United States
41	Xfinity	$116.4 Billion	United States
42	Agric Bank of China	$111.1 Billion	China
43	Alibaba	$109.5 Billion	China
44	NTT Group	$108.4 Billion	Japan
45	DELL Technologies	$105.2 Billion	United States
46	Target	$101.9 Billion	United States
47	Huawei	$99.9 Billion	China
48	Hyundai Group	$98.1 Billion	South Korea
49	UPS	$97.3 Billion	United States
50	Nestle	$95.7 Billion	Switzerland