Just Revealed: Saudi Aramco Is The World’s Most Profitable Company

When talking of the most profitable company in the world, one thought that will always come to our mind is the popular companies like amazon, google, apple or Microsoft who are driving the world economy. But the truth has been revealed of a company, a silent warrior emerging the most profitable company in the world. After several years of operating in silence, the Saudi Arabian state-owned Oil Company, Aramco has publicly disclosed its earning to the world and this has revealed one thing- It is the most profitable company in the world. The revelation showed that the company made a staggering $111 billion in 2018.

Coming right after it is Apple, which made $59.4 billion in 2018; a little above half the Aramco’s figure. Aramco had revenue of $355.9 billion, and $48.8 billion of cash on the books at the end of last year. That’s far more than its debt of $27 billion. It was helped by a 31% increase average oil prices in 2018 compared to 2017.

Aramco had been billed to go public in 2018. The plan would have offered 5% of the company up for sale. This would have been the largest initial public offering ever. The offering never saw the light of day.