Largest US Companies - by Revenue

 

from Visual Capitalist (link)

We all know about the Magnificent Seven which refers to seven dominant technology companies that have been significant drivers of market growth, particularly in the last few years. These companies are: Apple (AAPL) Microsoft (MSFT) Amazon (AMZN) Alphabet (GOOGL / GOOG) (Google's parent company) Meta Platforms (META) (formerly Facebook) Nvidia (NVDA) and Tesla (TSLA).

When measuring the "size", people usually means market cap. Here is a good picture from CompaniesMarketCap. This is not up to date as we know Nvidia has exceeded Microsoft again recently.

source: CompaniesMarketCap

However it is interesting to see from a different aspect - revenue. This is real. Not like stock price could be hype. So when you put these companies on the same map, you see who's really doing the business. Of course the profit margins are different from sections to sectors. But within the same category, it is worthwhile to see the comparison in size.

TSMC's consolidated revenue for 2024 was approximately US$90.08 billion. This represented a 30.0% increase from 2023 and marked a new record high for the company. For 2025, the company anticipates revenue to increase by a "mid-20s percent" range to be 108B. Still some distance to the #23 Meta at 165B.

Foxconn's consolidated revenue for the full year 2024 was approximately US$208 billion (NT$6.86 trillion). This represented an 11.3% increase year-on-year and was a record high for the company. Foxconn expects "significant growth" in revenue for the full year 2025. Assuming 20%, that will put Foxconn next to Microsoft in terms of the revenue!

This is 2025. Likely in a few years, the map could look very differently.

Another measurement is Total Assets Under Management (AUM). As of early 2024, BlackRock, Vanguard, and State Street collectively manage a staggering amount of assets that exceed any of the companies above.
BlackRock: ~$10.5 trillion
Vanguard: ~$9.3 trillion
State Street: ~$4.3 trillion
This combined AUM is enormous, giving them significant voting power in corporate governance.

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