$111 Billion in Net Income for Saudi Aramco in 2018
Posted on 04/01/2019
Saudi Aramco is the most profitable company in the world.
Fitch Ratings and Moody’s, two rating agencies, posted snapshots of Saudi Aramco’s financials. Saudi Aramco generated US$ 111.1 billion in net income for fiscal year 2018. To compare, Chevron Corporation raked in US$ 14.8 billion in net income in 2018 versus US$ 9.2 billion in 2017.
Saudi Aramco had EBITDA of US$ 224 billion in 2018. Fitch Ratings reported that, at the end of 2018, Saudi Aramco had “cash and cash equivalents” of US$ 49 billion. Rating agency Moody’s claims that Saudi Aramco paid US$ $58.2 billion in dividends to the “Saudi government” in 2018. Sales of crude oil are the largest component of Saudi Aramaco’s consolidated revenue and other income related to sales, accounting for 86.4%, 56.7%, and 56.4% for the years ended 31 December 2016, 2017, and 2018, respectively.
The rating firms rated Saudi Aramco before its US$ 10 billion Saudi Aramco bond.
