Royal Dutch Shell
Exxon Mobil

The Fortune Global 500 generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014.

See our methodology and credits



Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2015. All companies on the list must publish financial data and report part or all of their figures to a government agency. Figures are as reported, and comparisons are with the prior year’s figures as originally reported for that year. Fortune does not restate the prior year’s figures for changes in accounting.


Revenue figures include consolidated subsidiaries and reported revenues from discontinued operations, but exclude excise taxes. For banks, revenue is the sum of gross interest income and gross noninterest income. For insurance companies, revenue includes premium and annuity income, investment income, realized capital gains or losses, and other income, but excludes deposits.


Profits are shown after taxes, extraordinary credits or charges, cumulative effects of accounting changes, and noncontrolling (minority) interests, but before preferred dividends. Figures in parentheses indicate a loss. Profit declines of more than 100% reflect swings from 2013 profits to 2014 losses. Profits for partnerships and cooperatives are reported but are not comparable with those of the other companies on the list because they are not taxed on a comparable basis. Profits for mutual insurance companies are based on statutory accounting. Revenue and profit figures for non-U.S. companies have been converted to U.S. dollars at the average exchange rate during each company’s fiscal year (ended Dec. 31, 2014, unless otherwise noted).

Balance Sheet

Assets shown are those at the company’s fiscal year-end. Stockholders’ equity is the sum of capital stock, paid-in capital, and retained earnings on the same date. Noncontrolling (minority) interest is not included. Figures for non-U.S. companies have been converted to U.S. dollars at the exchange rate at each company’s fiscal year-end.


The figure shown is either a fiscal year-end or yearly average number, as published by the company. Where the breakdown between full- and part-time employees is supplied, a part-time employee is counted as one half of a full-time employee.


The medians for profit changes from 2013 do not include companies that lost money in 2013 or lost money in both 2013 and 2014, because no meaningful percentage changes can be calculated in such cases.


This year’s Fortune Global 500 was prepared under the direction of list editor Scott DeCarlo. Financial statements and annual reports were reviewed by reporter Douglas Elam, accounting specialists Richard Tucksmith and Rhona Altschuler, and markets editor Kathleen Smyth. Reporter Cindy Kano (Tokyo) reviewed and verified figures for Japanese companies. Beijing bureau manager Zhang Dan provided figures for Chinese companies. Fortune’s Business Information Database administrator, Larry Shine, supplied technical support. Edith Fried reviewed and edited nonstatistical information. Researchers Viki Goldman and Kathleen Lyons assisted in data verification using data provided by FactSet Research Systems, Hoover’s, Morningstar Document Research, S&P Capital IQ and Thomson Reuters.

Company profiles were written by Scott Cendrowski, Erika Fry, Stephen Gandel, Ben Geier, Robert Hackett, Matthew Heimer, Tom Huddleston Jr., Beth Kowitt, Adam Lashinsky, Michal Lev-Ram, Laura Lorenzetti, Leena Rao, Daniel Roberts, Geoff Smith, Benjamin Snyder, and Phil Wahba.


The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

See our methodology and credits


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China National Petroleum

Last year's Rank: 4
A pedestrian walks past a Petrochina Co. gas station in Hong Kong.
Photograph by Brent Lewin – Getty Images
Known as the parent company of PetroChina, China's biggest oil producer was hurt by lower oil prices throughout the year. Profits fell by 17%. Like its state-owned rival Sinopec, CNPC was also the focus of an intense anti-corruption campaign. In fact, CNPC has been one of the campaign's prime targets over the past two years. Zhou Yongkang, former CNPC chairman, was jailed for life this year on graft charges. His case highlighted Beijing's efforts to break the power clique at CNPC. During the year, CNPC's strong refining and distribution businesses helped mitigate losses from oil price declines.
  • Size. As the largest state-owned oil producer, CNPC has a wide range of assets in China and all over the world.
  • Size. CNPC has been targeted by China's anti-corruption campaign because of its political influence. That is a liability in today's China.
  • China's demand for oil continues to grow, despite efforts to shift energy demand to alternatives.
  • Beijing's anti-corruption campaign could force the company to unwind assets and put key decisions on hold until it passes.

Company Information

CEO Wang Yilin
Industry Petroleum Refining
Sector Energy
HQ Location Beijing, China
Years on List 15

Key Financials (last fiscal year)

($ Millions) % change
Revenues 428620 0%
Profits 16359 -11%
Assets 634811
Employees 1636532

Profits as a % of

Profit as % of Revenues 3%
Profits as % of Assets 2%
Profits as % of Stockholder Equity 5%
* Government owned 50% or more.
* Excise taxes have been deducted. Includes revenues from discontinued operations.

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