World Largest Private Companies by Revenue | Eqvista (2023)

Choosing a business entity is one of the most important legal decisions an entrepreneur makes when starting a new company. With the numerous advantages, it provides to the entrepreneur, the Limited Liability Partnership (LLP) is gaining favor. A limited liability partnership (LLP) is a type of business entity that combines the limited liability of a corporation with the flexibility of a partnership. Before making a decision, an entrepreneur needs to evaluate a number of things.

As a vital aspect of the middle market, private enterprises not only reflect but also amplify this optimism, helping to fuel economic success and innovation. 80% of middle-market CEOs work for private enterprises. Whether it is growing into new abroad locations or into parallel business sectors, organic growth dominates private company leaders growth strategy, which is somewhat predictable. They focus on identifying the proper personnel, diversity, and young talent with digital capabilities to ensure they reach aggressive growth aspirations. Leaders of private companies are heavily investing in new technologies to improve process efficiency. However, these expansionist operations are straining cash flow, and securing enough working capital is a major concern.

World Largest Private Companies by Revenue | Eqvista (1)

Private Companies by Revenue

Sole proprietorships, partnerships, small and mid-sized firms, major corporations and multinationals, professional and trade associations, and trade unions are all examples of private sector businesses. The private sector is larger in free enterprise countries, such as the US, and the government lays fewer restrictions on businesses. The public sector accounts for the majority of the economy in countries with stronger government authority.

(Video) Top 50 America’s Largest Private Companies : 2021

What are private or privately-owned companies?

A corporation that is not publicly traded is known as a privately-owned company. This indicates that the firm either lacks a share structure through which it raises capital or that the company’s shares are held and exchanged without the use of an exchange. Family-owned firms, sole proprietorships, and the great majority of small and medium-sized businesses are examples of privately-owned businesses. Unlike a public company, a privately owned corporation is not subject to public scrutiny. These businesses are frequently too tiny to launch an initial public offering (IPO), therefore they must rely on personal savings, inherited funds, and/or bank loans to meet their financial demands.

How do private companies work?

A private corporation is treated as a separate legal entity by the law, and it must register as a separate taxpayer. It has a separate life from its owners, with its own set of rights and responsibilities. The shareholders are the proprietors of a private firm. A private company’s managers may or may not be stockholders. Private companies do not have the same resources as public corporations when it comes to raising funds, such as issuing stock. Throughout the life cycle of a private firm, money from personal savings, friends, and family, bank loans, and private equity through angel investors and venture capitalists are all choices for funding.

Types of Private Companies

Private corporations are sometimes known as privately held businesses. Sole proprietorships, limited liability corporations (LLCs), S corporations (S-corps), and C corporations (C-corps) are the four primary forms of private firms, each with its own set of laws for shareholders, members, and taxation.

(Video) The Largest Private Companies In America

Sole Proprietorship

A sole proprietorship is a type of business organization in which a single person manages the company. It does not, in general, necessitate registration. Anyone who wishes to start a business with low initial expenditure can choose this type of business. The solitary proprietor/owner has complete authority over the company and is responsible for all the company’s losses and gains. This type of business can be used by a single person who wishes to start a business from home or on a premise with a small investment.


A partnership is an agreement between two parties, known as business partners, to work together to further their joint goals. Individuals, businesses, interest-based organizations, schools, governments, and combinations of these can be partners in a partnership. Partners can work together to run a firm for mutual benefit. If one of the company partners succeeds, they split the profit. Some of the partners are corporations or other entities rather than individuals. By definition, a partnership firm is formed when two or more persons pool their resources to create a company and agree to share risks, profits, and losses. Law firms, medical groups, real estate investment firms, and accountancy firms are all instances of common partnership businesses.


A corporation is an entity, usually a collection of people or a company that has been permitted by the state to act as a single entity and is legally recognized as such for certain purposes. Charters were used to establishing the first incorporated entities. The majority of governments currently permit the formation of new corporations via registration. In other terms, it’s a company that exists independently of its shareholders (i.e. investors and owners of the corporation). Microsoft Corporation, Coca-Cola Company, Apple, Google, Microsoft, J.P Morgan Chase, and Toyota are just a few examples.

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LLC (Limited Liability Company)

A Limited Liability Company (LLC) is a legal entity that is permitted under state law. If you want to form a Limited Liability Company, you should check with your state to see what requirements apply to you. People who own an LLC are called members, and these members can be individuals, businesses, other LLCs, and international entities. This is because ownership in most states is not restricted. Blackberry, Pepsi-Cola, Sony, Nike, Hertz, Rent-a-Car, eBay, and IBM are all examples of LLCs.

Why is it important to estimate revenue for a private company?

Estimating the revenue for a private company is extremely important since private companies don’t declare their financials to the public, and because they don’t have a stock listed on a stock exchange, determining their value can be tricky. The rest of the profit and loss (P&L) assumptions will be influenced by revenue. As a result, if revenue predictions are significantly off, the firm runs the danger of overstaffing or understaffing, as well as acquiring assets erroneously. For potential investors, revenue is also an important measure.

Estimates don’t have to be exact, but they should be realistic and backed up by a compelling tale. Correct revenue estimating is a crucial component of your company planning since it determines how much you’ll spend for critical business expenses like taxes, workers’ compensation, liability, and business revenue insurance.

(Video) Top 100 America's Largest Private Companies 2020

You will be able to create proper budgets before things get started if you forecast your revenue. This not only helps you plan for the following year but also serves as a point of reference for when you want to review your progress later in the year. Furthermore, you will be able to stick to your budgeting goals. The practice equips your company with the information (and power) to make sound, well-informed decisions about team expansion. It tells you how many additional workers you’ll be able to hire and how much you’ll be able to pay each of them.

It is evident that private companies need to estimate revenue to assist the business in a variety of ways, including money management, planning, strategy, customer and investor interactions, scheduling, and much more.

Largest companies in the world by revenue

There are multiple companies that are earning great revenue. These companies have the largest turnovers and are also confined to increasing the financial economy of the company through their businesses. These companies and their net worth is showcased below:

(Video) America's Largest Private Companies (Top companies of America)

EntryCompany NameCountryRevenue (2021, USD Billion)Gross profit (2021 in USD Billion)
1Trafigura GroupSwitzerland2313.1
3Schwarz GroupGermany138.669.5
5CargillUnited States134.44.93
7Koch IndustriesUnited States1153.95
8TATA GroupIndia1134.18
9Amer International GroupChina100.2818.5
10Pacific Construction GroupChina97.53.5
11HNA GroupChina88.50.387
12Robert BoschGermany87.220.49
13State FarmUnited States82.21.3
14Hengli GroupChina80.62.372
15Nippon Life InsuranceJapan76.943.12
16REWE GroupGermany75.274.36
19Shandong Weiqiao Pioneering GroupChina57.31.23
20Auchan HoldingFrance54.71.2
21DeloitteUK, USA 50.20.567
22NationwideUnited States500.95
23Ingram MicroUnited States49.13.6
24Liberty Mutual Insurance GroupUnited States48.20.895
25Groupe BPCEFrance47.91.83
26Zheijiang Geely Holding GroupChina47.891.352
27New York Life Insurance CompanyUnited States46.7-0.822
28Publix Super MarketsUnited States46.614.41
29ZF FriedrichshafenGermany45.860.668
31PricewaterhouseCoopersUK, USA 450.785
32Edeka ZentraleGermany44.150.315
33Tsingshan Holding GroupChina42.41.129
35TIAAUnited States41.60.558
36Cedar Holdings GroupChina41.30.49
37Meiji Yasuda Life InsuranceJapan40.822.1
38Ernst & YoungUK, USA 400.49
39MarsUnited States400.72
40DZ BankGermany39.10.993
41Jiangsu Shagang GroupChina38.641.14
42Tech DataUnited States370.368
43USAAUnited States36.293.9
44Yango Longking GroupChina36.230.54
46Taikang Insurance GroupChina35.43.48
47Reyes HoldingsUnited States350.78
48Louis Dreyfus CompanyFrance33.80.382
49Northwestern MutualUnited States33.80.425
50Sumitomo Life InsuranceJapan33.180.254
51H-E-BUnited States32.80.752
52Phoenix PharmaGermany32.380.221
53KPMGNetherlands, UK 32.120.28
54Migros GroupSwitzerland31.9031.88
55Wanda GroupChina31.70.265
56CMA CGMFrance31.451.75
57Coop GroupSwitzerland31.050.574
58Pilot Flying JUnited States29.50.165
59Xinjiang Guanghui Industry InvestmentChina28.70.745
60GS CaltexSouth Korea28.50.388
61Huaxia Life InsuranceChina28.490.398
62Hailiang GroupChina28.460.117
63CHS Inc.United States28.40.554
66C&S Wholesale GrocersUnited States26.181.52
67Enterprise HoldingsUnited States23.91.33
68Massachusetts Mutual Life InsuranceUnited States23.66-0.1
69AsdaUnited Kingdom22.70.71
70BechtelUnited States21.80.58
71Boehringer IngelheimGermany21.33.489
72Cox EnterprisesUnited States21.10.5
73Fidelity InvestmentsUnited States211.4
74Southern Glazer's Wine & SpiritsUnited States210.117
75Love's Travel Stops & Country StoresUnited States20.60.139
76Medline IndustriesUnited States200.22
77MeijerUnited States19.50.55
78Wakefern Food CorporationUnited States18.30.139
79Allied UniversalUnited States180.35
80JM Family EnterprisesUnited States17.70.32
81Trader Joe'sUnited States16.50.21
82SubwayUnited States16.10.21
83Land O' LakesUnited States161.36
84Gordon Food ServiceUnited States15.50.3226
85Turner ConstructionUnited States150.24
86Inspire BrandsUnited States14.60.42
87Chick-fil-AUnited States14.20.842
88Kingston TechnologyUnited States13.80.47
89Allegis GroupUnited States13.60.45
90The Guardian Life Insurance Company of AmericaUnited States13.560.235
91World Wide TechnologyUnited States13.40.59
92American Family Insurance GroupUnited States13.10.403
93WawaUnited States130.89
94RacetracUnited States12.60.379
95Kiewit Corporation (Peter Kiewit Sons')United States12.460.826
96ABC SupplyUnited States12.17.55
97Hy-VeeUnited States120.5
98Republic National Distributing CompanyUnited States11.90.195
99Farmers Insurance ExchangeUnited States11.870.116
100Jones Financial (Edward Jones)United States11.81.6
101MenardsUnited States11.82.9
102Hearst CorporationUnited States11.50.5
103QuikTripUnited States11.20.21
104Mutual of Omaha InsuranceUnited States11.10.698
105SHI International CorpUnited States11.10.114
106BloombergUnited States110.552
107S. C. Johnson & SonUnited States110.28
108McKinseyUnited States10.50.33
109Whiting-Turner ContractingUnited States10.30.115
World Largest Private Companies by Revenue | Eqvista (2)

Get your private company valuation from Eqvista!

A private company’s value is replete with assumptions, best guess projections, and industry averages. It’s difficult to assign a reliable value to privately held enterprises because of the lack of openness involved. There are several more approaches for determining private company values that are employed in the private equity market and by corporate finance consulting teams. To avoid such assumptions and get the value on point, it’s imperative to take consultation from an expert. We, at Eqvista, make sure that you are able to get the best valuation services. Contact us today for more information on our valuation services!


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