How the World’s Biggest Companies Have Changed in Just 10 Years
The Chart of the Week is a weekly Visual Capitalist feature on Fridays.
At first glance, the business world may seem quite static. The biggest companies today – ones like Apple, Walmart, or Exxon Mobil – will likely also be some of the biggest companies tomorrow. Fast forward a week, a month, or a year, and odds are that they will still be at the top of the food chain.
But fast forward any further, and those odds change considerably. In a decade, there just has to be one bad strategic decision, a missed trend, or a colossal managerial mistake, and you have the next Kodak, Blockbuster, or Sears.
A Changing List
Every year, Fortune publishes a ranking of the world’s top companies by revenue. We compared the 100 highest revenue companies in both 2008 and 2018 to see how much things change in ten years – and the results are pretty astounding.
The most fundamental finding: 43 of the 100 companies on top of today’s list were not there ten years ago. Some of the “new” entries, like Amazon or Huawei, are to be expected – but other companies like Microsoft or Apple are more surprising.
In 2008, for example, Apple was ranked just #337 in global revenue, and today it comes in 11th place.
A Closer Look at the Top 10
The full graphic looks at the Top 100, but let’s zoom in just to the very top.
Here were the top 10 companies in 2008:
|#2||Exxon Mobil||USA||$372.8 billion|
|#3||Royal Dutch Shell||Netherlands||$355.8 billion|
|#5||Toyota Motor||Japan||$230.2 billion|
|#7||ING Group||Netherlands||$201.5 billion|
|#9||General Motors||USA||$182.3 billion|
Ten years ago, oil prices were sky-high and the list was dominated with energy names like Total, Chevron, and ConocoPhillips. Amazingly, ING Group was the only financial company to make the list in 2008, but it has since fallen to #171 globally.
Let’s jump to the 2018 list:
|#2||State Grid||China||$348.9 billion|
|#3||Sinopec Group||China||$327.0 billion|
|#4||China National Petroleum||China||$326.0 billion|
|#5||Royal Dutch Shell||Netherlands||$311.9 billion|
|#6||Toyota Motor||Japan||$265.2 billion|
|#9||Exxon Mobil||USA||$244.4 billion|
|#10||Berkshire Hathaway||USA||$242.1 billion|
While the modern list has just as many energy names, half of them are now Chinese companies like State Grid or Sinopec Group. Meanwhile, the staying power – at least in terms of revenue – of companies like Walmart, Toyota, Royal Dutch Shell, and BP is quite impressive.
Charted: U.S. Egg Prices More Than Double in 2022
This chart shows the increase in the national average price of a dozen Grade A eggs in the U.S. in 2022.
Charted: U.S. Egg Prices Double in 2022
Eggs are a staple food for many countries around the world, and the U.S. is no exception. Americans eat between 250‒280 eggs a year on average.
Eggs are also easy to cook, protein-dense and supply many daily vitamins needed for healthy living, making them a popular meal or ingredient. So when egg prices rise, people notice.
MetalytIQ charted the rapid rise of egg prices in the U.S. during 2022, using data from the U.S. Bureau of Labor and Statistics (BLS).
Over the course of 12 months, the national average price for a dozen large Grade A eggs more than doubled, to $4.25 in December from $1.93 in January.
|Egg Prices Per Month (2022)||Price per dozen|
The biggest culprit has been an avian flu outbreak that resulted in 43 million chickens culled to prevent the spread of the disease.
This led to a severe shortfall in egg supply. Egg inventories in December had fallen by one-third compared to January. Combined with increasing demand during the holiday season, prices skyrocketed and empty shelves became apparent in some states.
This is not the first time avian flu has disrupted the industry.. In 2015, a similar outbreak pushed egg prices up 40% in nine months, reaching a high of $2.97 per dozen eggs in September 2015.
Will Egg Prices Drop in 2023?
Avian flu isn’t the only storm the egg industry has been facing in 2022.
In the near-term, egg prices are expected to remain high. Containing the avian flu outbreak will remain the biggest factor in determining the prices, but as suppliers increase production, prices may cool off a little in 2023.
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