‘Saudi Aramco’, the national oil company of the Kingdom Saudi Arabia is the most profit making company in the world. It beat ‘Apple’ to the second position. It is revealed that the company make a profit of profits of $111.1billion a year. It overtakes US companies Apple and Exxon mobile.
In 2018, the company made an income of $111 billion in 2018. Apple made $59.53 billion in 2018. Saudi Aramco also made more money than J.P. Morgan Chase, Google-parent Alphabet, Facebook and Exxon Mobil combined. Put together, those companies made nearly $106 billion in 2018, according to FactSet.
Aramco had revenue of $355.9 billion, according to the Moody’s note, 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.
Saudi Aramco made its financial information available in a prospectus for a $10 billion bond sale, which the company plans to use to finance a nearly $70 billion stake in Saudi Arabia’s petrochemicals company.
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