认识一下赚钱最多的10家《财富》美国500强公司
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第63期《财富》美国500强本周三发布，其中云集了过去一年规模最大也最成功的美国企业。但这个榜单是按企业的营业收入排名，基本不看盈利能力：实际上今年榜单中有61家公司去年出现亏损，占榜单企业总数的12%。不过去年上榜企业整体利润增长了6%，合计盈利接近8900亿美元。 在《财富》美国500强的佼佼者之中，赚钱最多的公司堪称富可敌国，其净利润超过了坦桑尼亚、冰岛等很多国家的GDP。《财富》美国500强盈利最高的一些公司可能会让人意外，因为一些公司的销售收入未必很高。要论营业收入，《财富》美国500强排名第一的沃尔玛超过任何上榜公司两倍以上，可要按利润排名沃尔玛还进不了前十。即使美国政府不推行税改等有望进一步提高企业盈利的利好政策，以下十家企业盈利水平在美国也遥遥领先。 1、苹果公司 《财富》美国500强排名：第三位 2016年利润：457亿美元 占营业收入百分比（利润率）：21% 尽管去年利润大减11%，苹果公司仍然成功地保住了盈利第一的地位，且连续第三年荣登《财富》美国500强最高盈利公司榜首。因iPhone和iPad销售下滑，去年苹果的营业收入下跌将近8%，降至2156亿美元。即便如此苹果账上的现金还是超过2500亿美元，多到有很多钱不知道该怎么花。苹果打算，未来一年以分红形式回馈股东约130亿美元。苹果也将由此成为全球分红最多的个股。 2、摩根大通公司 《财富》美国500强排名：第21位 2016年利润：247亿美元 占营业收入百分比（利润率）：23% 利率上行环境下，哪怕只是美联储最近小幅上调利率，也能明显提振摩根大通的业绩。无论用哪种指标，如今的摩根大通都称得上美国最大的银行。去年摩根大通营业收入增长4%以上，增至1055亿美元，利润增幅也超过1%。首席执行官杰米•戴蒙高调支持监管改革，特别是银行业改革。只要美国总统特朗普和国会放宽监管机构对银行的部分资本要求，还有其他金融危机以后加诸于银行的限制，摩根大通的盈利还可能进一步增长。 3、伯克希尔—哈撒韦公司 《财富》美国500强排名：第二位 2016年利润：241亿美元 占营业收入百分比（利润率）：11% 去年“股神”沃伦•巴菲特领导的伯克希尔-哈撒韦营业收入增长6%。在今年的《财富》美国500强榜单上排名跃升两位，创造了历史最高排名。伯克希尔去年的盈利基本持平（去年股市收益略有减少，旗下圣达菲北柏林顿铁路公司的盈利又大减16%，不过部分基础险和能源业务小幅增长，抵消了部分负面影响），但净收入还是突破了240亿美元，牢牢占据着《财富》美国500强盈利排名第三的宝座。 4、美国富国银行 《财富》美国500强排名：第25位 2016年利润：219亿美元 占营业收入百分比（利润率）：23% 为了结虚假帐户丑闻，富国银行去年向美国政府和消费者赔偿超过1.85亿美元，导致全年盈利下降4%以上。尽管如此，该行去年盈利仍将近220亿美元。富国银行的零售业务在美国名列前茅，所以也因利率走高受益，去年销售额增长将近5%。 5. Alphabet 《财富》美国500强排名：第27位 2016年利润：195亿美元 占营业收入百分比（利润率）：22% 谷歌的母公司Alphabet今年在《财富》美国500强的排名上升了九位，主要因为去年该司销售额增长超过20%，盈利增速也差不多，超出此前的华尔街预期。谷歌的核心业务搜索与广告收益稳定，为Alphabet的所谓其他投资——生物科技公司Calico和无人驾驶汽车公司Waymo等初创公司提供了充分缓冲。虽然去年其他投资的营业收入同比增长达81%，但亏损同样扩大，增至36亿美元。不过这些业务还不到Alphabet整体销售额的1%。 6、美国银行 《财富》美国500强排名：第26位 2016年利润：179亿美元 占营业收入百分比（利润率）：19% 和其他美国同行相比，美国银行可能是利率回升最大的受益者。去年美国银行盈利达到金融危机以来最高，年度利润额在该行历史上排第二。（未能超过2006年创造的史上最高记录210亿美元。）美联储只要小幅加息，也会对美国银行等金融机构净收入带来巨大影响，因为银行发放的贷款会收到更高的利息，支付消费者的存款利息又大为降低。虽然去年美国银行销售额基本与前年持平，但利润大涨将近13%。 7、微软 《财富》美国500强排名：第28位 2016年利润：168亿美元 占营业收入百分比（利润率）：20% 虽然去年销售额去跌将近9%，今年在《财富》美国500强榜单下降三位，但微软大幅削减成本（包括2015年宣布的裁员7800人）抵消了一些收入减少的负面影响。去年微软盈利增长将近38%，超出华尔街预期。这不单单靠削减成本，微软的云服务业务Azure盈利成绩也确实亮眼。Azure现在成为亚马逊云服务业务的竞争对手，其盈利能力远超微软传统的科技产品。 8、强生 《财富》美国500强排名：第35位 2016年利润：165亿美元 占营业收入百分比（利润率）：23% 自《财富》美国500强公布起，业务遍布医疗保健领域的强生就成为54家常驻榜单的巨头之一。去年强生“吸金”能力进一步提升，旗下消费类产品和医药业务税前利润双双增长。而且因会计核算更改，去年强生实际税率下调（由前年的19.7%降至2016年的16.5%）。尽管去年销售额增速不足3%，强生的利润增速仍超过7%。 9、花旗集团 《财富》美国500强排名：第30位 2016年利润：149亿美元 占营业收入百分比（利润率）：18% 经过逐渐推进缩减规模和精简业务计划，包括剥离大部分拉美业务，花旗宣布2016年已完成重组的大计。如市场预期，去年该行的营业收入和盈利均因此下滑，营业收入去年下降接近7%，降至824亿美元，盈利下降近14%，均在预期之内。但花旗首席执行官高沛还是在年报中郑重致歉：“我们的业绩有负所望”。但投资者看来并未看空。去年花旗股价大涨近16%，而且向股东发放更多股息，回购股票规模也增加了。 10、高特利集团 《财富》美国500强排名：第148位 2016年利润：142亿美元 占营业收入百分比（利润率）：74% 高特利的前身是大名鼎鼎的烟草公司菲利普•莫里斯。去年该司净利润激增172%，跻身今年《财富》美国500强十大高盈利公司之列。但别指望高特利能在榜单上稳住，因为去年豪赚全靠一次性抛售所持南非米勒29%的股权。去年秋天，全球啤酒业龙头百威英博完成了对第二大啤酒商南非米勒的收购，高特利一举进帐139亿美元，税后获利90亿美元，去年该司税后利润绝大部分都来自这一交易。倘若不算这宗超级并购的暴利，高特利去年的营业利润只会增长将近5%。（财富中文网） 译者：Pessy 审稿：夏林 |
The 63rd edition of the Fortune 500, our annual list featuring the largest and most successful American companies, was published on Wednesday. But as our roster is a ranking of corporations by revenues, there's no requirement for profitability: Indeed, 61 companies on this year's list—or 12%—lost money last year. Still, the Fortune 500 as a group grew profits 6% in 2016, collectively earning nearly $890 billion. At the high end, the Fortune 500's biggest earners boast bottom lines larger than many world economies, with profits eclipsing the gross domestic product (GDP) of countries such as Tanzania and Iceland. And some of the companies that rank among the most profitable in the 500 may surprise you, as they are nowhere near the top in terms of sales. Meanwhile Walmart (wmt, +0.28%), which at No. 1 on the Fortune 500 has more than twice as much revenue as any other company on the list, doesn't even make the top 10 when it comes to profits. Even without tax reform and other political changes that are expected to boost earnings further, these 10 companies are making the most money in all of corporate America. 1. Apple Fortune 500 Rank: No. 3 2016 Profits: $45.7 billion % of Revenues (Margin): 21% Though its profits sank 14% last year, Apple (aapl, +0.60%) still managed to maintain its status as the Fortune 500's most profitable company for the third year in a row. Indeed, even after declines in iPhone and iPad sales led its revenues to fall nearly 8%, to $215.6 billion, Apple still has more money on hand than it has so far figured out what to do with, to the tune of more than $250 billion in cash. Apple plans to return some $13 billion of that hoard to shareholders in the coming year in the form of dividends, making it the highest dividend-paying stock in the world. 2. J.P. Morgan Chase Fortune 500 Rank: No. 21 2016 Profits: $24.7 billion % of Revenues (Margin): 23% Rising interest rates, even the Federal Reserve's modest recent hikes, have given J.P. Morgan Chase (jpm, +1.15%) a meaningful bump. Now the biggest American bank by any measure, J.P. Morgan grew revenue more than 4% last year to $105.5 billion, while also boosting profits more than 1%. With CEO Jamie Dimon an outspoken proponent of regulatory reform, particularly when it comes to the banking sector, J.P. Morgan's earnings are likely to grow further if President Trump and Congress lift some of the capital requirements and other limitations imposed on banks after the financial crisis. 3. Berkshire Hathaway Fortune 500 Rank: No. 2 2016 Profits: $24.1 billion % of Revenues (Margin): 11% Warren Buffett's conglomerate Berkshire Hathaway (brk.a, +0.13%) jumps up two spots to its highest Fortune 500 rank in history this year, after growing revenues 6% in 2016. Though Berkshire's profits were flat for the year (with modest growth from some of its underlying insurance and energy businesses offset by a 16% earnings decline at its Burlington Northern Santa Fe railroad, and slightly smaller stock market profits), its more than $24 billion bottom line means it holds last year's spot as the Fortune 500's third most profitable company. 4. Wells Fargo Fortune 500 Rank: No. 25 2016 Profits: $21.9 billion % of Revenues (Margin): 23% The bank paid more than $185 million to the government and consumers to resolve its fake accounts scandal, contributing to a more than 4% decline in 2016 profits. But Wells Fargo still netted nearly $22 billion in earnings last year. One of the largest consumer banks in America, Wells Fargo (wfc, +0.54%) is also benefiting from higher interest rates, and its sales grew almost 5% in 2016. 5、Alphabet Fortune 500 Rank: No. 27 2016 Profits: $19.5 billion % of Revenues (Margin): 22% Google's parent company moved up nine spots on the Fortune 500 this year thanks to a banner 2016 in which sales increased more than 20%, and earnings grew nearly as much, blowing past Wall Street's expectations. The core Google (googl, +0.49%) search and advertising business provided a hefty cushion for Alphabet's so-called other bets, which include everything from biotech unit Calico to self-driving car division Waymo. Though such moonshots managed to generate 81% more revenue in 2016 compared to the year before, they also had higher losses, of $3.6 billion—and they still account for less than 1% of Alphabet's overall sales. 6. Bank of America Fortune 500 Rank: No. 26 2016 Profits: $17.9 billion % of Revenues (Margin): 19% Higher interest rates are likely to benefit Bank of America (bac, +1.75%) more than any other U.S. bank, and in 2016, the company recorded its most profitable year since the financial crisis and the second-biggest profit in its history. (Bank of America has yet to surpass its record performance in 2006, when it earned $21 billion.) Illustrating how even small Fed rate hikes can have an outsized impact on the bottom line of a company like Bank of America—which makes money by collecting higher interest payments on loans while paying out a much smaller amount on consumers' savings deposits—the bank boosted profits nearly 13% last year, even though its sales were basically flat. 7. Microsoft Fortune 500 Rank: No. 28 2016 Profits: $16.8 billion % of Revenues (Margin): 20% Though Microsoft falls three spots on the Fortune 500 this year after a nearly 9% sales decline in 2016, its aggressive cost cuts (including 7,800 layoffs announced in 2015) are paying off for the company's bottom line: Microsoft (msft, -0.18%) grew profits almost 38% last year, beating Wall Street expectations. It wasn't just the cutbacks that made the difference. The company also attributed its impressive earnings to its booming cloud services business Azure, which is now competitive with the huge cloud-services division Amazon (amzn, +0.73%) and is much more profitable than Microsoft's legacy technology products. 8. Johnson & Johnson Fortune 500 Rank: No. 35 2016 Profits: $16.5 billion % of Revenues (Margin): 23% The sprawling health care conglomerate is one of just 54 companies that have made it on the Fortune 500 every single year the list has been published. Johnson & Johnson (jnj, -0.06%) also managed to expand its pre-tax profit margins in both its consumer products and pharmaceutical businesses last year. That, plus a reduction in its effective income tax rate (to 16.5% in 2016, down from 19.7% the year before) due to an accounting change, contributed to a more than 7% increase in 2016 profits, while sales grew less than 3%. 9. Citigroup Fortune 500 Rank: No. 30 2016 Profits: $14.9 billion % of Revenues (Margin): 18% After carrying out a deliberate and gradual plan to shrink and simplify the company, including divesting much of its Latin America business, Citigroup (c, +1.43%) declared its restructuring efforts complete in 2016. That left the bank with lower revenues (down nearly 7% to $82.4 billion last year) and profits (down almost 14%), as expected, but Citi CEO Michael Corbat still felt obliged to say in the company's annual report that "our performance last year fell short." Investors didn't seem to agree: Citi stock gained nearly 16% in 2016, as the bank also returned more money to shareholders in the form of an increased dividend and stock buybacks. 10. Altria Group Fortune 500 Rank: No. 148 2016 Profits: $14.2 billion % of Revenues (Margin): 74% Altria, the tobacco company formerly known as Philip Morris, catapulted into the ranks of the Fortune 500's most profitable companies with a massive 172% increase in net income in 2016. But don't expect Altria (mo, +0.45%) to keep its place on this list too long: The bulk of the company's profits last year came from a one-time windfall on Altria's 27% ownership stake in beer maker SABMiller. When Anheuser-Busch InBev completed its takeover of SABMiller in the fall, Altria reaped a $13.9 billion gain, representing $9 billion—and the vast majority—of its 2016 earnings after taxes. Not counting the gains from the mega-merger, Altria grew its operating income almost 5% last year. |
