Most profitable industries U.S. 2023 | Statista (2024)

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Most profitable industries U.S. 2023 | Statista? ›

As of January 2023, the most profitable industry in the United States was regional banking, with a profit margin of 30.31 percent. The profit margin of the financial services sector was not too far off, with a net profit margin of 26.32.

According to Statista, regional banks are the most profitable financial business, realizing 30.31 percent in profits as of January 2023. Money centers have nearly 27 percent profit margins, and nonbank and insurance services see 26.32 percent profits.

According to a data collected by Statista, regional banking has the highest profit margin of any American industry as of January 2023, with a profit margin of 30.31%. With a net profit margin of 26.32%, the profitability of non-bank financial services, including insurance services was not too far off.

In 2023, the Saudi Arabian oil company Saudi Aramco posted the highest net revenue of any company in the world, with profits of over 247 billion U.S. dollars. Apple, Berkshire Hathaway, Microsoft, and Alphabet rounded out the top five spots in the ranking of most profitable companies. What is net income?

Pet care of almost every kind is on the rise. 66% of households have at least one pet, according to Forbes Advisor. In 2023, people spent $147 billion on pets, a figure that has been growing since 2018. This interest and demand in animal services are reflected in job growth.

To summarize, the fastest-growing industries in the US in 2024 are projected to include technology-related sectors, healthcare, and renewable energy sector.

According to Statista, the top five most profitable businesses in the world are Saudi Aramco (valued at $156.4 billion), Apple (valued at $94.3 billion), Microsoft (valued at $69 billion), Exxon Mobil (valued at $61.7 billion) and Alphabet (valued at $58.6 billion).

Which industry has the highest profit margin? ›

According to NYU Stern, the financial sector has come out as the most profitable sector with banks reporting gross profits of almost 100%. The net income for the same sector lies around 30%. Followed by financials, is the oil and gas industry with net profits nearing 28.26% and gross margins of 58.75%.

Historically, the industries considered to be the most defensive and better placed to fare reasonably during recessions are utilities, health care, and consumer staples.

1. Saudi Aramco (Energy, Saudi Arabia): With $159.1B in profits, it dominates as the world's most profitable energy company, capitalizing on vast oil reserves. 2. Apple (Technology, U.S.): Profiting $99.8B, Apple leads in tech innovation and consumer electronics, with a strong global brand presence.

The healthcare sector was selected as one of the best investment sectors in 2024 due to its vital role in society, ongoing innovation and growth potential. This decision is underpinned by the sector's expansion in biotechnology, personalized medicine and digital health solutions.