Saudi Aramco, the energy behemoth, has once again proven its financial prowess by concluding the year 2023 with a staggering profit of $121.3 billion. Despite facing a slight dip from its peak in 2022, the company maintains its position as the unrivaled leader in profits among publicly listed companies for the second consecutive year. This achievement underscores Saudi Aramco’s resilience in navigating the volatile terrain of oil prices.
As investors and analysts turn their attention to Saudi Aramco’s stock performance, optimism abounds. InvestingPro’s Fair Value assessment paints a promising picture, suggesting potential growth on the horizon.
To put Saudi Aramco’s monumental success into perspective, one need only glance at the combined profits of four financial giants: Meta ($39 billion), Amazon.com ($30 billion), NVIDIA Corporation ($30 billion), and Tesla ($15 billion). Even when combined, these titans fall short by $7 billion compared to Saudi Aramco’s earnings alone. The likes of Apple, Warren Buffet’s Berkshire Hathaway, and Microsoft, with profits of $97 billion, $97 billion, and $72 billion respectively, pale in comparison to the financial juggernaut that is Saudi Aramco.
Despite facing challenges due to the downward trajectory of oil prices, Saudi Aramco has solidified its status as the profit leader for two consecutive years. As the company sets its sights on the future, all eyes are on its stock value, poised for potential growth and further success.
