In this article, we will take a look at the 20 biggest multinational companies headquartered in the US. If you want to skip our detailed analysis, you can go directly to 5 Biggest Multinational Companies Headquartered in the US.
The Future of Multinational Companies
According to a report by Deloitte, a sweeping international tax policy is set to be enforced in 2024. The new tax reforms directly impact multinational companies across the globe. The Pillar Two tax reform, signed by 138 countries, accounts for 90% of global economic activity. As per the Pillar Two tax reform, the primary goal is to establish a level playing field for companies across countries. This will primarily be done by discouraging companies from lowering their corporate income taxes in a bid to attract foreign investment. Under the supervision of the Organization for Economic Cooperation and Development (OECD), companies with €750 million or more in revenue, are obliged to pay a global minimum tax of 15% on earned income in each country they operate in. OECD suggests that the reform will push corporate taxes globally by $220 billion per year, almost 9% of global corporate income tax revenues. Deloitte further highlights that the Pillar Two tax reform does not limit itself to just taxes, instead, it shapes how multinationals operate their supply chain networks, execute acquisitions, and strategic decisions.
Moreover, the system and compliance data are not only difficult to adhere to, but they also demand a complex infrastructure, that businesses need to establish. Under the reform, multinationals will be required to provide data for 100 separate data points for each entity in an organization. Not only do companies have to remodel their organizational structure, but they also have to revisit their financial reporting timelines. Therefore, to address the need for a complex infrastructure, companies will not be expected to report 2024 returns until after 18 months, which provides ample time for companies to adapt and restructure. You can also check out companies in the US with high profit margins.
Prominent Multinational Companies in the United States
Apple Inc. (NASDAQ:AAPL), Alphabet Inc. (NASDAQ:GOOG), and Microsoft Corporation (NASDAQ:MSFT) are among the biggest multinational companies headquartered in the United States. Let's discuss some recent updates from these companies. You can also take a look at the biggest multinationals in the world.
Tech giant Apple Inc. (NASDAQ:AAPL), announced the launch of its first-ever carbon-neutral products on September 12. With over 75% reduction in the use of carbon, the new Apple watches contribute to the company's goal to make every product carbon neutral by the end of 2030. In line with the company's goals, Apple Inc. (NASDAQ:AAPL) has also eradicated the use of leather across all of its product lines supported with fiber-based packaging for its new Apple Watch lineup. Additionally, the company also introduced a new tool in its Grid Forecast app, which tells users when clean energy is available in the power grid, so they plan their electricity consumption accordingly.
Wall Street is Bullish on Apple Inc. (NASDAQ:AAPL). On December 11, Wedbush analyst Daniel Ives maintained an Outperform rating on Apple Inc. (NASDAQ:AAPL) and raised his price target from $240 to $250. Over the past 3 months, 25 Wall Street analysts have recommended to Buy the stock. Apple Inc. (NASDAQ:AAPL) has an average price target of $202.32 and a high forecast of $240.
On December 6, Alphabet Inc. (NASDAQ:GOOG) launched a new and flexible AI model, Gemini. Gemini comes in three different sizes including Ultra, Pro, and Nano. Gemini holds the capability to operate across data centers and smartphones. The new Google Pixel 8 comes with the artificial intelligence tool as a built-in. With its capabilities, the tool allows smartphone users to prevent sensitive data from leaving the device, along with the ability to use features without the need for a network connection. Moreover, Gemini Nano combines with the Google Tensor G3 to offer two primary features including the "Summarize in Recorder" and "Smart Reply in Gboard."
On October 31, Alphabet Inc. (NASDAQ:GOOG) reported earnings for the fiscal third quarter of 2023. The company reported earnings per share of $1.55, beating estimates by $0.10. The company also reported revenue worth $76.69 billion for the quarter, ahead of market consensus by $960.97 million, with a year-over-year revenue growth rate of 11%.
On December 11, Microsoft Corporation (NASDAQ:MSFT) announced a partnership with The American Federation of Labor and Congress of Industrial Organizations (AFL-CIO). The two entities will collaborate to focus on the future of the workforce with respect to the role of artificial intelligence. The collaboration will promise three objectives including the sharing of in depth information with labor leaders and workers on AI tech trends, incorporating worker perspectives and expertise to develop suitable AI technologies, and developing government policies supporting the integration of technology while prioritizing worker needs.
Microsoft Corporation (NASDAQ:MSFT) was a part of 306 hedge fund portfolios by the end of the third quarter of 2023. The total stakes of these hedge funds amounted to $72.19 billion, up from $69.79 billion in the previous quarter with 300 positions. The hedge fund sentiment for the stock is positive. As of September 30, the Bill & Melinda Gates Foundation Trust is the largest shareholder in Microsoft Corporation (NASDAQ:MSFT) and has a position worth $12.40 billion. The stock covers 31.87% of the fund's portfolio.
Let's now take a look at the 20 biggest multinational companies headquartered in the US.
20 Biggest Multinational Companies Headquartered in the US
20 Biggest Multinational Companies Headquartered in the US
Our Methodology
For our title, 20 biggest multinational companies headquartered in the US, we first looked through Finviz and sorted the companies in the US by market cap. We then sifted through 3 reports compiled by Forbes, Yahoo Finance, and Visual Capitalist to ensure we did not miss out on any private or public companies. We cross-checked each of the companies on their multinational status. This thorough process enabled us to form an initial pool of 35 multinational companies headquartered in the US.
We identified the top 20 names based on an assessment of the market capitalization as of December 12 sourced from Yahoo Finance for publicly listed companies and reported annual revenues from official company reports for private companies. It is to be noted that once we ranked our companies, none of the privately held companies made it to the list. Therefore, the list of the 20 biggest multinational companies headquartered in the US is in ascending order of market capitalization, as of December 12, 2023.
20 Biggest Multinational Companies Headquartered in the US
Market Capitalization as of December 12, 2023: $315.39 Billion
Oracle Corporation (NYSE:ORCL) ranks among the biggest multinational companies with headquarters in the United States. The software company offers products and services aimed at meeting enterprise IT requirements. Prominent features of the Oracle Cloud Software include the Oracle Fusion cloud enterprise resource planning, Oracle Fusion enterprise performance management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle advertising, and NetSuite applications suite. Oracle Corporation (NYSE:ORCL) has a market cap of $315.39 billion as of December 12 and is headquartered in Austin, Texas. The company was founded in 1977.
Market Capitalization as of December 12, 2023: $329.76 Billion
The Home Depot, Inc. (NYSE:HD) has a market cap of $329.76 billion as of December 12. The consumer cyclical company sells a range of products including building materials, home improvement products, lawn products, garden products, facilities maintenance products, and repair products. Prominent products include water heaters, flooring, baths, garage doors, cabinets, countertops, sheds, furnaces, and central air systems. Primary segments include homeowners, handymen, contractors, and tradesmen. The Home Depot, Inc. (NYSE:HD) was founded in 1978 and is based in Atlanta, Georgia.
Market Capitalization as of December 12, 2023: $343.68 Billion
The Procter & Gamble Company (NYSE:PG) ranks among the biggest multinational companies headquartered in the US, with a market cap of $343.68 billion as of December 12. The company operates across five segments including beauty, grooming, healthcare, fabric and home care, and baby, feminine and family care. Prominent brands by the company include Head & Shoulders, Herbal Essences, Pantene, Olay, Safeguard, Gilette, Oral-B, Always, and Ariel to name a few. The Procter & Gamble Company (NYSE:PG) was founded in 1837 and is headquartered in Cincinnati, Ohio.
Market Capitalization as of December 12, 2023: $373.27 Billion
Johnson & Johnson (NYSE:JNJ), with a market cap of $373.27 billion as of December 12, ranks among the biggest multinational companies headquartered in the United States. The drug manufacturer engages in the research, development, manufacturing, and selling of healthcare products in the skin, beauty, baby care, oral care, allergy, and first aid segments. The company also has a MedTech segment that offers electrophysiology products to treat cardiovascular diseases and neurovascular care products to treat hemorrhagic and ischemic stroke. Johnson & Johnson (NYSE:JNJ) was founded in 1886 and is based in Brunswick, New Jersey.
Market Capitalization as of December 12, 2023: $389.84 Billion
Mastercard Incorporated (NYSE:MA) ranks among the biggest multinationals with headquarters in the United States. The company is one of the largest financial technology companies that provides transaction processing and other payment-related services across the globe. It offers integrated products, and value-added services for account holders, merchants, financial institutions, businesses, governments, and other organizations. The company also offers prepaid program services, commercial credit solutions, debit solutions, and prepaid payment solutions, along with consulting and managed services. Mastercard Incorporated (NYSE:MA) has a market cap of $389.84 billion as of December 12 and is headquartered in New York.
Market Capitalization as of December 12, 2023: 398.16 Billion
With a market cap of $398.16 billion as of December 12, Exxon Mobil Corporation (NYSE:XOM) ranks among the biggest multinationals headquartered in the United States. The oil and gas company operates across a range of segments including upstream, energy products, chemical products, and specialty products. Prominent features include the exploration of crude oil and natural gas, lubricants, fuels, aromatics, elastomers, waxes, and synthetics. The company also engages in the trade, transport, and sale of crude oil, natural gas, petroleum products, and petrochemicals. Exxon Mobil Corporation (NYSE:XOM) was founded in 1870 and is headquartered in Spring, Texas.
Market Capitalization as of December 12, 2023: $407.17 Billion
Walmart Inc. (NYSE:WMT) is a leading retail and wholesale company based in the United States. The company engages in the provision of its services across three segments including Walmart US, Walmart International, and Sam's Club. Prominent services include supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, and discount stores. Other than that, the company also operates several e-commerce websites including walmart.com, walmart.com.mx, flipkart.com, and samsclub.com. Walmart Inc. (NYSE:WMT) has a market cap of $407.17 billion as of December 12 and is headquartered in Bentonville, Arkansas.
Market Capitalization as of December 12, 2023: $459.56 Billion
JPMorgan Chase & Co. (NYSE:JPM) is one of the biggest multinational companies with headquarters in the United States. The financial services company operates across four segments such as consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. Prominent products and services offered by the company include deposit, investment products, lending products, cash management, mortgage origination, corporate structure and advisory, cross-border payments and financing, risk management solutions, and investment banking. JPMorgan Chase & Co. (NYSE:JPM) has a market cap of $459.56 billion as of December 12 and is headquartered in New York.
Market Capitalization as of December 12, 2023: $480.82 Billion
With a market cap of $480.82 billion as of December 12, Broadcom Inc. (NASDAQ:AVGO) ranks among the biggest multinational companies with headquarters in the United States. The company is engaged in the design, development, and supply of semiconductor devices across the globe. The company operates across two segments including semiconductor solutions and infrastructure software. Prominent products by Broadcom Inc. (NASDAQ:AVGO) include set-top box system-on-chips (SoCs), cables, digital subscriber lines, and passive optical networking central office/consumer premise equipment SoCs. Other than that, the company also provides RF front-end modules and filters including WiFi, Bluetooth, and GPS SoCs. The company was founded in 2018 and is headquartered in San Jose, California.
Market Capitalization as of December 12, 2023: $502.86 Billion
UnitedHealth Group Incorporated (NYSE:UNH) has a market cap of $502.86 billion as of December 12 and ranks among the biggest multinational companies headquartered in the United States. The healthcare company operates across four segments such as UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. Prominent services include consumer-oriented health benefits, care delivery, care management, health financial services, software and information products, consulting arrangements, and pharmacy care services. UnitedHealth Group Incorporated (NYSE:UNH) was founded in 1977 and is based in Minnetonka, Minnesota.
Market Capitalization as of December 12, 2023: $527.19 Billion
Visa Inc. (NYSE:V) is one of the largest payment technology companies based in the United States. VisaNet, a transaction processing network, is the company's primary product. It enables authorization, clearing, and settlement of payment transactions. The company also offers credit, debit, and prepaid card products such as tap-to-pay, tokenization, and click-to-pay services. Prominent services include Visa Direct, Visa B2B Connect, Visa Cross Border Solution, and Visa DPS. Visa Inc. (NYSE:V) has a market cap of $527.19 billion as of December 12 and is headquartered in San Francisco, California. The company was founded in 1958.
Market Capitalization as of December 12, 2023: $554.43 Billion
Eli Lilly and Company (NYSE:LLY) ranks among the biggest multinationals with headquarters in the United States. The company engages in the discovery, development, and marketing of pharmaceuticals across the globe. The company produces a range of medicines for diabetes type 1 and 2, metastatic gastric cancer, gastro-esophageal junction adenocarcinoma, metastatic NSCLC, metastatic colorectal cancer, and hepatocellular carcinoma. The company also produces medicines for anxiety and depressive disorders along with medicines for erectile dysfunction and benign prostatic hyperplasia. Eli Lilly and Company (NYSE:LLY) has a market cap of $554.43 billion as of December 12 and is headquartered in Indianapolis, Indiana.
Market Capitalization as of December 12, 2023: $762.11 Billion
With a market cap of $762.11 billion as of December 12, Tesla, Inc. (NASDAQ:TSLA) ranks among the biggest multinational companies with headquarters in the United States. The company is engaged in the design, development, and sale of electric vehicles and energy storage systems. The company provides its services across two segments including automotive and energy generation and storage. Other than the provision of new and used electric vehicles, the automotive segment also offers sedans and sports utility vehicles. The energy generation and storage segment engages in the development, lease, and installation of solar energy products and related services. Tesla, Inc. (NASDAQ:TSLA) was founded in 2003 and is headquartered in Austin, Texas.
Market Capitalization as of December 12, 2023: $779.86 Billion
With its headquarters in Nebraska, Berkshire Hathaway Inc. (NYSE:BRK-A) ranks among the biggest multinational companies with headquarters in the United States. The company spans across a range of products and services including insurance, freight rail transportation, and utility businesses. The company not only offers insurance across multiple lines, but also generates and distributes electricity from natural gas, coal, wind, solar, hydroelectric, nuclear, and geothermal sources. It also engages in the selling of boxed chocolates and confectionary products along with electronics and automobiles. Berkshire Hathaway Inc. (NYSE:BRK-A) has a market cap of $779.86 billion as of December 12.
Market Capitalization as of December 12, 2023: $835.92 Billion
Meta Platforms, Inc. (NASDAQ:META) is a leading name in the technology industry. The company has its headquarters in California, United States. The company specializes in the development and production of products that connect people across the globe. Facebook, Instagram, Messenger, and WhatsApp are some of the most popular products in its Family of Apps segment. Under its Reality Labs segment, the company develops augmented and virtual reality products. Meta Platforms, Inc. (NASDAQ:META) was founded in 2004 and has a market cap of $835.92 billion as of December 12.
