2025-12-03 02:25:10
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The ranking of the world’s most profitable companies in 2025 highlights a powerful concentration of earnings across technology, finance, and energy.
The data for this visualization comes from FinanceCharts.com. It ranks companies by trailing 12-month net income as of November 2025 and shows the profit margins behind those earnings.
As in previous years, technology firms dominate the top of the ranking, with Alphabet earning $124.3 billion and Apple and Microsoft close behind. These companies benefit from high-margin digital services, advertising platforms, and enterprise software, all of which scale efficiently.
| Rank | Name | TTM Net Income | TTM Net Profit Margin |
|---|---|---|---|
| 1 | Alphabet | $124.3B | 30.1% |
| 2 | Apple | $112.0B | 24.8% |
| 3 | Microsoft | $104.9B | 35.7% |
| 4 | NVIDIA | $99.2B | 53.7% |
| 5 | Saudi Aramco | $95.6B | 21.7% |
| 6 | Amazon.com | $76.5B | 9.8% |
| 7 | Berkshire Hathaway | $67.5B | 22.0% |
| 8 | Meta Platforms | $58.5B | 36.7% |
| 9 | JPMorgan Chase & Co | $56.7B | 20.1% |
| 10 | Taiwan Semiconductor | $50.5B | 41.6% |
| 11 | Industrial and Commerci.. | $49.9B | 21.7% |
| 12 | China Construction Bank | $46.4B | 23.4% |
| 13 | Agricultural Bank of Ch.. | $38.5B | 18.8% |
| 14 | Bank of China | $31.4B | 16.3% |
| 15 | Exxon Mobil | $30.0B | 9.7% |
| 16 | HSBC Holdings | $29.6B | 14.7% |
| 17 | Toyota Motor | $29.5B | 9.6% |
| 18 | Tencent Holdings | $29.3B | 27.8% |
| 19 | Bank of America | $28.3B | 13.5% |
| 20 | Johnson & Johnson | $25.1B | 21.9% |
| 21 | China Life Insurance | $24.0B | 35.6% |
| 22 | Walmart | $22.9B | 3.0% |
| 23 | Comcast | $22.6B | 14.9% |
| 24 | PetroChina | $22.3B | 5.6% |
| 25 | AT&T | $22.2B | 10.7% |
| 26 | UniCredit SpA | $21.3B | 23.8% |
| 27 | Alibaba Group Holding | $20.9B | 11.3% |
| 28 | Samsung Electronics | $20.6B | 10.6% |
| 29 | China Merchants Bank | $20.2B | 28.3% |
| 30 | Allianz | $20.1B | 13.2% |
| 31 | Wells Fargo & Co | $20.0B | 15.2% |
| 32 | Visa | $19.9B | 52.2% |
| 33 | Verizon Communications | $19.8B | 12.2% |
| 34 | Ping An Insurance (Grou.. | $19.7B | 14.6% |
| 35 | Holcim | $19.1B | 31.4% |
| 36 | BNP Paribas | $19.1B | 8.5% |
| 37 | Merck & Co | $19.0B | 25.7% |
| 38 | Broadcom | $18.9B | 19.0% |
| 39 | Eli Lilly and Co | $18.4B | 24.7% |
| 40 | UnitedHealth Group | $17.6B | 4.3% |
| 41 | Uber Technologies | $16.6B | 24.0% |
| 42 | Procter & Gamble | $16.5B | 18.2% |
| 43 | Novo Nordisk | $16.0B | 34.6% |
| 44 | Sanofi | $15.9B | 16.2% |
| 45 | Goldman Sachs Group | $15.8B | 11.1% |
| 46 | Banco Santander | $15.7B | 9.8% |
| 47 | Morgan Stanley | $15.6B | 12.1% |
| 48 | Shell | $14.6B | 5.2% |
| 49 | Home Depot | $14.6B | 9.0% |
| 50 | Deutsche Telekom | $14.5B | 8.1% |
NVIDIA stands out with a remarkable 53.7% profit margin, underscoring how demand for AI chips continues to reshape the semiconductor industry. Together, the top U.S. tech firms account for several hundred billion dollars in annual profit, more than entire sectors in some countries.
JPMorgan Chase, Bank of America, and Wells Fargo all appear in the top 50, contributing tens of billions in profit.
China’s “Big Four” banks—ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China—also rank highly thanks to scale and extensive domestic networks.
European firms such as HSBC, BNP Paribas, and Santander add further evidence that financial services remain one of the world’s most profitable industries.
Saudi Aramco remains the world’s most profitable non-tech operator, generating $95.6 billion from energy production despite market volatility. Pharma companies like Merck, Eli Lilly, and Novo Nordisk show strong margins driven by high-value therapeutics and blockbuster drug pipelines.
In contrast, retail giants such as Walmart and Home Depot post lower margins due to their cost-intensive structures, though their absolute profits still place them among the world’s leaders.
If you enjoyed today’s post, check out When Will the Next $5 Trillion Dollar Company Emerge? on Voronoi, the new app from Visual Capitalist.
2025-12-03 00:37:00
AI is evolving faster than most teams can keep up. It’s often inaccurate, occasionally unpredictable, and forces businesses to rethink workflows they’ve trusted for years. In this environment, AI trust isn’t automatic. It has to be earned.
This graphic pulls back the curtain on what really makes people believe in AI—and why performance matters more than polish. It’s a preview of the brand-new executive guide from Terzo and Visual Capitalist, AI’s Illusion of Truth: The Data Behind AI Errors.
Researchers reviewed over 500 studies to find the most commonly cited drivers of people’s trust in AI. At the top of the list is capability, an AI system’s ability to perform tasks accurately and effectively.
This makes intuitive sense. When an AI model repeatedly hallucinates or gives unreliable output, teams quickly lose trust. In a world where overconfidence and illusions of accuracy are common, competent AI matters most.
| Factor | Number of Times Reported as Precursor to Human Trust in AI |
|---|---|
| Capability | 92 |
| Anthropomorphism* | 67 |
| Individual Factors | 47 |
| Explainability | 41 |
| Privacy Risk | 37 |
*Anthropomorphism is attributing human characteristics to AI. Source: AI & Society, based on a systematic review of 562 studies of human trust in AI.
The second most common factor is giving AI human-like traits (anthropomorphism). For example, this can include things like the AI model referring to itself as “I,” using a conversational tone, or appearing friendly.
Beyond this, individual factors like age, gender, and education level play a large role.
People are also more likely to have confidence in AI if they understand the logic behind AI decisions (explainability) and if they feel there is a low privacy risk.
To move past illusions of confidence and toward dependable results, teams need to invest in AI that is competent and clear. While human-like traits can help ease adoption, they shouldn’t be a substitute for strong performance.
Dig deeper into the data behind AI errors and how to get 99% accuracy in the free executive guide, AI’s Illusion of Truth.
Find out how common AI hallucination is for leading models, and what that means for the businesses that rely on them.
Among the dangers of AI, one stands apart as causing trouble for almost a third of companies. What do leaders need to know?
Which university has had the most alumni become entrepreneurs in the last decade? Hint: its not Stanford or Harvard.
In many advanced economies, the number of retirees is climbing while the working-age population shrinks. What are the countries where workers are supporting the most seniors?
The national unemployment rate for the U.S. rose to 4.3% in August 2025. But that figure masks vast differences in local labor market health across states.
A trade war has threatened economic ties in 2025. Which economies are most exposed to these shifts in international trade?
Tariff rates vary by country, as does the value of goods each nation exports to the U.S. Which countries contribute the most?
As the U.S. labor market cools, which industries are still hiring—and which are cutting back their workforces?
Global debt continues to climb, reaching $150T in Q1 2025. Which countries carry the heaviest burdens?
How do Fed rate cuts in the U.S. compare with the interest rate changes in other G7 countries, and what does it mean for business?
Explore the fastest growing jobs by projected growth rate, plus salary insights, in a rapidly changing job market.
This graphic pieces together the $127T global stock market to reveal which countries and regions dominate—and how much equity they control.
The median age of first-time home buyers has reached a historic high. See just how long it’s taking people to get on the property ladder.
The Silent Generation’s share of real estate has dropped dramatically as people age, but how have Baby Boomers, Gen X, and Millennials fared?
Real estate is the biggest industry by GDP in 26 states. Find out why it dominates—and what fuels the rest of the country.
Tariffs are rising to boost American-made goods. Which states gain the most—and least—from manufacturing today?
Collectively, the ten most profitable U.S. companies have a net income of $684 billion—more than the entire GDP of Belgium.
New York City has the highest millionaire population globally. Which other cities attract the world’s wealthiest?
The global economy is expected to have slighter slower growth going forward. Which countries are on track to have the biggest GDP increases?
The U.S. has kept their target rate the same at 4.25-4.50%. What do interest rates look like in other countries amid economic uncertainty?
The national housing market saw a 4.5% rise in house prices. This graphic reveals which states had high price growth, and which didn’t.
If you held a $1,000 investment from 1975-2024, this chart shows how the inflation rate can drastically reduce the value of your money.
Trump cites trade deficits—the U.S. importing more than it exports—as one reason for tariffs. Which countries represent the largest deficits?
2025-12-02 23:36:05
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This graphic uses IRS data from 2022 analyzed by SmartAsset to show how much the richest people contribute to income tax revenue.
The table below includes each state’s share of income taxes paid by the top 1% and the total amount of income tax they paid.
Wyoming leads the nation, with the top 1% paying 54.67% of all state income taxes.
Florida and Nevada follow closely, both surpassing the 50% threshold. These states attract high-income individuals in part due to tax-friendly policies and large concentrations of wealthy households.
| Rank | State | Income taxes paid by top 1% | Total income tax paid by 1% (thousands of dollars) |
|---|---|---|---|
| 1 | Wyoming | 54.67% | $2,460,940 |
| 2 | Florida | 53.62% | $96,264,565 |
| 3 | Nevada | 51.12% | $11,010,104 |
| 4 | New York | 46.26% | $79,488,609 |
| 5 | Texas | 44.52% | $81,990,700 |
| 6 | Connecticut | 43.85% | $16,284,881 |
| 7 | Montana | 42.92% | $2,690,156 |
| 8 | Arkansas | 42.22% | $4,814,153 |
| 9 | Utah | 41.16% | $7,477,634 |
| 10 | Tennessee | 41.04% | $14,547,566 |
| 11 | South Dakota | 40.46% | $2,020,508 |
| 12 | Louisiana | 38.72% | $6,806,423 |
| 13 | California | 38.60% | $122,452,981 |
| 14 | Illinois | 38.39% | $32,677,874 |
| 15 | Georgia | 38.31% | $21,001,340 |
| 16 | Mississippi | 38.29% | $3,297,109 |
| 17 | Idaho | 38.20% | $3,392,957 |
| 18 | Massachusetts | 38.19% | $26,646,912 |
| 19 | Arizona | 38.00% | $14,438,918 |
| 20 | Oklahoma | 37.80% | $5,622,529 |
| 21 | Missouri | 37.16% | $10,481,163 |
| 22 | South Carolina | 37.05% | $8,867,845 |
| 23 | Nebraska | 37.03% | $3,704,671 |
| 24 | Alabama | 36.15% | $6,778,809 |
| 25 | Kansas | 35.79% | $5,066,051 |
| 26 | Wisconsin | 35.54% | $11,024,109 |
| 27 | Indiana | 35.52% | $10,518,818 |
| 28 | New Hampshire | 35.41% | $3,946,877 |
| 29 | North Carolina | 35.28% | $19,037,365 |
| 30 | Pennsylvania | 35.09% | $26,128,752 |
| 31 | Michigan | 35.01% | $16,650,121 |
| 32 | Ohio | 34.60% | $18,842,538 |
| 33 | Colorado | 34.51% | $14,894,687 |
| 34 | North Dakota | 34.41% | $1,521,767 |
| 35 | Kentucky | 34.26% | $5,451,182 |
| 36 | New Jersey | 33.78% | $26,899,308 |
| 37 | Rhode Island | 33.58% | $2,150,700 |
| 38 | Hawaii | 33.57% | $2,455,554 |
| 39 | Iowa | 33.16% | $4,813,252 |
| 40 | Virginia | 32.94% | $19,239,261 |
| 41 | Minnesota | 32.64% | $11,524,941 |
| 42 | New Mexico | 32.30% | $2,380,544 |
| 43 | Washington | 32.06% | $20,012,467 |
| 44 | Vermont | 32.04% | $1,078,255 |
| 45 | Maine | 30.48% | $1,976,671 |
| 46 | Maryland | 30.45% | $12,675,749 |
| 47 | Delaware | 30.38% | $1,647,326 |
| 48 | Oregon | 30.37% | $6,773,041 |
| 49 | West Virginia | 30.28% | $1,647,747 |
| 50 | Alaska | 26.37% | $1,016,945 |
In states like California, Texas, and New York, the share of taxes paid by the top 1% ranges from 39% to 46%, but the dollar amounts are higher due to population scale.
California’s top earners alone account for more than $122 billion in income taxes, the largest total contribution of any state. High adjusted gross incomes—often above $2 million—mean that even moderate tax-share percentages translate into substantial revenue.
States further down the ranking, such as Oklahoma, Arizona, and Idaho, still see the top 1% paying about 38% of income taxes. Alaska sits at the bottom, with top earners paying 26%. Across nearly every state, the top 1% shoulder between one-third and one-half of total income taxes.
If you enjoyed today’s post, check out Mean vs. Median: Visualizing Net Worth in the U.S. by Age Group on Voronoi, the new app from Visual Capitalist.
2025-12-02 21:09:03
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The wealth of America’s top 1% sits around $52 trillion today, rising by $4 trillion over the year.
Overall, the top 1% of U.S. earners need to make around $800,000 or more in salary per household. Meanwhile, about 30% of American households earned less than $50,000 last year, highlighting clear divides in wage distribution across the country.
This graphic shows income inequality by state, based on data from the U.S. Census Bureau.
In 2024, the U.S. Gini coefficient was 0.48, representing a high degree of inequality.
Effectively, a score of one means that a single person would earn all of the income, and 0 would represent perfect equality. Last year, the top 20% of earners pocketed 52.2% of the country’s income according to the U.S. Census Bureau. In contrast, the bottom fifth of earners received just 3.1%.
Yet, income is distributed differently across states. Last year, income inequality was the most severe in Washington, D.C. and New York, each with a 0.52 Gini index score.
| State | Gini Coefficient 2024 |
|---|---|
| District of Columbia | 0.52 |
| New York | 0.52 |
| Connecticut | 0.50 |
| Louisiana | 0.49 |
| California | 0.49 |
| Massachusetts | 0.48 |
| Illinois | 0.48 |
| Florida | 0.48 |
| Texas | 0.48 |
| North Carolina | 0.48 |
| Mississippi | 0.48 |
| Pennsylvania | 0.47 |
| Tennessee | 0.47 |
| Alabama | 0.47 |
| Georgia | 0.47 |
| Washington | 0.47 |
| New Mexico | 0.47 |
| Arkansas | 0.47 |
| Rhode Island | 0.47 |
| New Jersey | 0.47 |
| Kentucky | 0.47 |
| Oklahoma | 0.47 |
| Virginia | 0.47 |
| Michigan | 0.47 |
| West Virginia | 0.47 |
| South Carolina | 0.47 |
| Nevada | 0.47 |
| Missouri | 0.46 |
| Ohio | 0.46 |
| Arizona | 0.46 |
| Colorado | 0.46 |
| Wyoming | 0.46 |
| Montana | 0.46 |
| North Dakota | 0.46 |
| Maine | 0.46 |
| Maryland | 0.46 |
| Kansas | 0.46 |
| Oregon | 0.46 |
| Vermont | 0.46 |
| Hawaii | 0.45 |
| Indiana | 0.45 |
| Minnesota | 0.45 |
| Delaware | 0.45 |
| New Hampshire | 0.45 |
| Nebraska | 0.45 |
| South Dakota | 0.44 |
| Wisconsin | 0.44 |
| Alaska | 0.44 |
| Iowa | 0.44 |
| Idaho | 0.43 |
| Utah | 0.42 |
In Washington, D.C. the top 20% of earners made 27 times more than the bottom 20% in 2023 according to the Federal Reserve Bank of St. Louis, which is the highest ratio of any state between the top and bottom quintiles.
New York, on the other hand, is home to more billionaires than any other state except for California, creating huge disparities in income. Since 2019, real wage growth among the Big Apple’s top 3% soared 34.5%, more than triple all other income tiers.
Falling near the U.S. average are Florida, Texas, and Massachusetts, providing a more representative picture of income inequality in the country.
In comparison, Utah ranks lowest overall, a position it has regularly held for some time. Utah has the sixth-highest employment share (65.4%) in the country, keeping average family incomes more even.
Along with this, Utah has one of the best social mobility index scores nationwide, likely influenced by narrower wage disparities.
To learn more about this topic, check out this graphic on wealth inequality by country in 2025.
2025-12-02 02:25:42
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“Home bias” is a common tendency for investors to invest in domestic assets.
This pattern is especially pronounced among U.S. investors—likely influenced by the country’s outsized role in global financial markets. Similarly, Japanese investors heavily concentrate their investments in local assets.
This graphic shows how different countries invest across equities and bonds, based on data from Goldman Sachs Global Investment Research.
Below, we show the equity portfolios of countries across U.S. equities, domestic equities, and global equities:
| Country | U.S. Equities | Domestic Equities | Rest of World Equities (ex U.S.) |
|---|---|---|---|
 U.S. |
78% | N/A | 22% |
 Norway |
48% | 12% | 40% |
 Canada |
45% | 49% | 6% |
 Denmark |
43% | 40% | 17% |
 Australia |
37% | 33% | 30% |
 Euro Area |
36% | 46% | 18% |
 United Kingdom |
34% | 19% | 47% |
 Sweden |
31% | 50% | 19% |
 New Zealand |
27% | 53% | 20% |
 Switzerland |
26% | 32% | 42% |
 Japan |
19% | 78% | 3% |
U.S. investors keep 78% of their equity holdings in domestic markets, a share comparable to Japan.
In contrast, many countries allocate a significant portion of their portfolios to U.S. equities, such as Norway (48%) and Canada (45%). Notably, Norwegian investors hold only 12% of their equity allocation in domestic stocks, despite strong average annualized returns of 13.7% since 2020.
UK investors display a similar outward tilt, holding just 19% of their equities at home. This is likely influenced by weak stock market performance and the lingering effects of Brexit. Since 2020, the FTSE 100 has delivered less than 5% in annualized returns.
The below table shows how countries illustrate more of a home bias when it comes to bonds:
| Country | U.S. Bonds | Domestic Bonds | Rest of World Bonds (ex U.S.) |
|---|---|---|---|
|
U.S. |
77% | N/A | 23% |
|
Norway |
28% | 19% | 53% |
|
Canada |
24% | 69% | 7% |
|
Denmark |
5% | 65% | 30% |
|
Australia |
5% | 62% | 33% |
|
Euro Area |
14% | 69% | 16% |
|
United Kingdom |
25% | 63% | 13% |
|
Sweden |
10% | 66% | 24% |
|
New Zealand |
19% | 47% | 35% |
|
Switzerland |
33% | 54% | 13% |
|
Japan |
14% | 80% | 7% |
As we can see, Japanese investors illustrate the strongest home bias, with 80% of fixed income investments held domestically.
Meanwhile, European investors also mirror this trend, with 69% allocated into domestic bonds. Factors such as familiarity and potential tax advantages may influence this trend.
For investors diversifying abroad, Switzerland has the highest allocation in U.S. bonds, at 33%. This is likely influenced by the strength of its currency, and comparatively higher U.S. bond yields given Switzerland’s current 0% interest rate.
To learn more about this topic, check out this graphic on the $127 trillion dollar global stock market.
2025-12-01 23:28:08
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Greenhouse gas emissions have shifted across the world over the last three decades. The data for this visualization comes from the European Commission’s EDGAR database. It tracks greenhouse gas emissions per capita across the G20 from 1990 through 2024. The dataset accounts for CO₂-equivalent emissions in tonnes per capita. Land use, land-use change, and forestry are not included.
While fossil-fuel-dependent economies continue to rank high, advanced industrial economies in Europe have seen marked declines. Rapidly growing middle-income countries have increased their emissions but remain far below Western levels on a per-capita basis.
Saudi Arabia (22.8 tonnes), Australia (22.3 tonnes), Canada (19.8 tonnes), and the United States (17.3 tonnes) remain among the highest per-capita emitters in 2024.
These levels reflect carbon-intensive power systems, large transportation footprints, and high consumption patterns. Russia, a big producer of fossil fuels, completes the top five with 18.02 tonnes per capita.
| Rank (2024) | Country (t CO2eq/cap) | 1990 | 2024 |
|---|---|---|---|
| 1 |
 Saudi Arabia |
14.49 | 22.79 |
| 2 |
Australia |
27.03 | 22.26 |
| 3 |
Canada |
21.32 | 19.76 |
| 4 |
 Russia |
20.71 | 18.02 |
| 5 |
United States |
24.62 | 17.34 |
| 6 |
 South Korea |
7.25 | 12.83 |
| 7 |
 China |
3.17 | 10.81 |
| 8 |
 South Africa |
10.84 | 9.31 |
| 9 |
Japan |
10.41 | 8.52 |
| 10 |
 Germany |
15.62 | 8.17 |
| 11 |
 Argentina |
7.73 | 7.95 |
| 12 |
EU |
11.58 | 7.14 |
| 13 |
 Türkiye |
4.19 | 6.76 |
| 14 |
 Italy |
8.83 | 6.32 |
| 15 |
 Brazil |
4.35 | 5.93 |
| 16 |
 France |
9.32 | 5.68 |
| 17 |
United Kingdom |
13.61 | 5.63 |
| 18 |
 Mexico |
5.16 | 4.91 |
| 19 |
 Indonesia |
1.86 | 4.69 |
| 20 |
 India |
1.56 | 3.04 |
China’s per-capita emissions increased sharply, rising from 3.17 tonnes in 1990 to 10.81 tonnes in 2024.
Yet even at this level, it remains below the U.S., Canada, Australia, and Saudi Arabia. South Korea and Türkiye also saw significant increases as industrial output expanded. India and Indonesia remain among the lowest emitters on a per-person basis, despite rapid economic growth.
Germany cut its per-capita emissions from 15.6 tonnes to 8.2 tonnes, while the UK saw an even larger drop—from 13.6 tonnes to 5.6 tonnes.
France, Italy, and the broader EU also show reductions of roughly 40–50% over the period. These declines reflect shifts toward renewable energy, energy-efficiency mandates, and broader economic transitions away from heavy industry. Japan followed a similar trend, falling from 10.4 tonnes to 8.5 tonnes.
If you enjoyed today’s post, check out Visualizing Future Solar Power Capacity by Country on Voronoi, the new app from Visual Capitalist.
