Saudi Aramco is the most profitable company in the world, according to financial data disclosed by the state-run oil giant in Saudi Arabia.
The company made a whopping amount of $111 billion in 2018, the data show. By comparison, Apple made $59.53 billion in fiscal 2018.
Saudi Aramco made its fiscal information accessible 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.
Despite the huge earnings, the company did not receive the top credit rating from agencies like Moody’s as its heavy dependence on the country’s economy could be a headwind for the company. Moody’s issued an A1 rating for Aramco. Company’s like Chevron and Exxon Mobil have higher rating than Aramco’s.
By this new finical information Saudi Aramco made $111 billion in 2018, topping Apple as the world’s most profitable company by far.
