Twenty-one Ohio companies, including two from the northwest part of the state, are on this year’s “Forbes Global 2000,” the magazine’s list of the world’s largest, most powerful public companies.
Forbes compiles the list by measuring each company’s revenues, profits, assets, and market value. The four numbers are weighted equally to come up with a composite score, “in pursuit of our goal to best capture the full picture of corporate size.”
The top three companies on the list — and five of the top ten — are from China. State-run Chinese bank Industrial and Commercial Bank of China Ltd. is No. 1 for a second year, followed by China Construction Bank Corp. and Agricultural Bank of China Ltd.
J.P. Morgan & Chase Co. is the top U.S. company at No. 4. Berkshire Hathaway Inc. is No. 5, and Wells Fargo & Co. is No. 9. Procter & Gamble Co. is the top Ohio company on the list at No. 40.
Findlay’s Marathon Petroleum Corp. is next at No. 271. The petroleum refinery company had sales of $93.9 billion last year, according to Forbes.
Toledo’s Health Care REIT Inc. is the only other northwest Ohio company on the list, ranking No. 1,264. It is a real-estate investment trust that specializes in senior housing and health-care properties.
Michigan has 15 firms on the list, led by Ford Motor Co. (47th) and General Motors Co. (67th.).
The United States has the most Global 2000 companies, with 564. Japan is second with 225, and China (including Hong Kong) is third at 207.
Apple Inc. ranks No. 15, but Forbes said it had the highest market value at $483 billion.
Wal-Mart Stores, Inc. (20th) leads in sales at $473.5 billion.
Six years after being bailed out during the financial crisis, Federal National Mortgage Association (Fannie Mae) is tops in total assets ($3.27 trillion) and was the world’s most profitable company with $84 billion in profit.