An analysis of the 2023 Forbes 2000 list conducted by GlobalData, an analytics company, has revealed intriguing insights into the distribution of companies and revenue across different regions.
The North American region emerged as a formidable force, contributing a staggering 38% (equivalent to $19.3 trillion) to the overall aggregate revenue ($50.8 trillion) of the featured companies on the Forbes 2000 list in 2023.
Delving into the regional breakdown, the Asia-Pacific (APAC) region maintained its stronghold in terms of the sheer number of companies, accounting for 39% with a total of 788 enterprises and an aggregated revenue of $18.6 trillion. Meanwhile, North America secured the second position with 680 companies, generating a combined revenue of $19.3 trillion. Europe followed with 416 companies contributing $10.9 trillion in revenue.
The Middle East and Africa boasted 71 companies that generated a combined revenue of $1.1 trillion, and South & Central America exhibited 45 companies with a combined revenue of $921.6 billion.
When examining the distribution of the profit pool among regions, North American companies commanded a significant share, constituting 41% of the total $4.4 trillion profit, as per the Forbes 2000 list. Asia-Pacific followed closely with 31.3%, Europe secured 19%, while the Middle East and Africa and South and Central America stood at 6% and 2.7%, respectively.
A noteworthy revelation emerged from the analysis of profit margins. The Middle East and Africa emerged as an unexpected leader, boasting a substantial net profit margin of 24.8%. In contrast, South and Central America secured a 12.9% net profit margin, North America stood at 9.4%, Europe held 7.7%, and Asia-Pacific recorded 7.4%.
In terms of sectors, the top five by revenue commanded a sizable portion of the Forbes 2000 revenue pool, accounting for approximately 64%. This equated to $32.5 trillion and included 1,215 companies. The financial services, oil & gas, and technology & communications sectors took the lead in profitability, collectively amassing an aggregate profit of $1,164.8 billion, $898.3 billion, and $672 billion, respectively.
Among these sectors, the pharmaceuticals & healthcare sector boasted the highest net profit margin of 11.6%, followed closely by financial services (11.4%), oil & gas (11.1%), technology & communications (11.1%), and transport & logistics (11%).
The 2023 Forbes 2000 list also welcomed some noteworthy entrants, including Life Insurance Corporation of India, Vibra Energia SA, and Paramount Group Inc.
Commenting on these findings, Murthy Grandhi, Company Profiles Analyst at GlobalData, noted that banks rebounded from the impact of the COVID-19 pandemic in 2022 due to climbing interest rates, leading to robust revenue growth. In contrast, falling crude oil prices adversely affected the oil and gas sector, while the technology sector faced challenges from high inflation, rising interest rates, and the potential of a global recession.
This article was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts
