The World's Richest Companies 2016: Global Cash 25

METHODOLOGY

The Global Finance Cash 25 ranks public companies by cash, cash equivalents and short-term securities on their balance sheets. Data is gathered from more than 70,000 public companies worldwide. It is a ranking of nonfinancial corporations—we exclude financial institutions from the list. Subsidiaries and nonpublic companies are excluded, and we use a minimum 25% holding for the path from a subject company to its ultimate owner as the cutoff for inclusion.

Top 25 Global Public Companies By Cash On Balance Sheet

* FY 2014, all others FY 2015  ^Includes cash, cash equivalents and short-term securities (those maturing between three months and a year).  Data valid as of July 21, 2016.                                                                                                          

Data provided by: Orbis by Bureau van Dijk

Top Regional Public Companies By Cash On Balance Sheet

North America
There were big changes in the North American list this year, with technology giant Microsoft surpassing industrial powerhouse GE at the top of the ranking. GE’s drop—to $70.5 billion in cash from over $90 billion last year, reflects its sale of GE Capital assets as part of a broader restructuring to focus on its core industrial businesses and to release itself from the regulatory burden of being a “systemically important financial institution.” GE’s SIFI designation was officially removed in June this year. Microsoft has also undergone a transformation—from a has-been software and PC maker to a digital enterprise and Cloud force to be reckoned with—and now holds $96.3 billion, up from $85.5 billion last year.

Western Europe
There are no changes in the top three spots this year. French oil and gas company Total takes the top spot in the region again, with $29.5 billion in available short-term cash, up from $26.5 billion last year. The UK’s Vodafone Group comes in second, with $20.8 billion in its coffers. And German automaker Daimler completes the triumvirate, with $18.6 billion in cash. But a newcomer to the list occupies fourth place: Enel, Italy’s flagship utility, boasts $14.2 billion on its balance sheet. Five German companies make the list this year—Deutsche Telekom, Siemens, E.ON and RWE join Daimler.

Central/Eastern Europe & Turkey
Russian companies make up five of the top 10 spots this year, down from seven last year. Lukoil is once again at the head of the class, with $3.5 billion in cash, followed by Turkish construction conglomerate Enka, which is new to the list and holds $2 billion in its war chest. Also new to the list this year are retailer BIM of Turkey and Polish video game maker CD Projekt.

* FY 2014, all others FY 2015  ^Includes cash, cash equivalents and short-term securities (those maturing between three months and a year).  Data valid as of July 21, 2016.                

Data provided by: Orbis by Bureau van Dijk

Latin America
As with last year, some of the most cash-rich companies in Latin America are domiciled here, although their primary operations are elsewhere. Schlumberger once again ranks as the most cash-rich company in the region, having added $5.5 billion to its coffers over last year. In second is Cayman-domiciled Chinese online travel agency ctrip.com, up from seventh place last year. Brazil telecom group Oi is third, but is unlikely to make the list next year, as it filed for bankruptcy in June. Grupo Televisa of Mexico moved up from 13th last year to fourth place.

Asia-Pacific
There is little change in the constituents of the Asia-Pacific list, although some big change within the ranking. SoftBank and Rakuten of Japan and Rio Tinto of Australia (and the UK) dropped off the list, replaced by Gree Electric of China in eighth place, Japan’s Honda Motor in ninth and Mitsui in 10th. The top three spots go to Toyota, Samsung of South Korea and Hon Hai Precision Industry of Taiwan. Samsung moves up from fifth place last year, having added $5 billion to its coffers. Hyundai was once again a big mover—dropping $5.1 billion in liquidity and going from fourth to seventh place.

Middle East
Qatar Navigation, a newcomer last year, sprinted up the ranking to take the top spot—from fifth place last year—with $1.7 billion in cash. Check Point Software of Israel moves to second place from fourth place last year, though its available liquidity changed little. Saudi Arabian chemical company Tasnee sits in third with $1 billion in cash—down from $1.2 billion last year. Newcomers include Boubyan Petrochemical of Kuwait, Mellanox Technologies of Israel, the Savola Group food products company of Saudi Arabia, and the UAE’s Dana Gas and Air Arabia.

Africa
South Africa’s chemicals company Sasol once again leads the list of cash-rich companies in Africa, increasing its coffers to $4.4 billion from $3.6 billion last year. In second position is South African mobile phone operator MTN Group, which has $4.3 billion in cash and operations in 22 countries. Internet and media group Naspers, also of South Africa, maintains third place in the roster, with $1.2 billion in cash on balance sheet. This year a second name from outside South Africa makes the list: In addition to Golden Agri-Resources of Mauritius in seventh place, Nigeria’s Seplat Petroleum comes in ninth, with $329 million in available short-term liquidity.

* FY 2014, all others FY 2015  ^Includes cash, cash equivalents and short-term securities (those maturing between three months and a year).  Data valid as of July 21, 2016.                

Data provided by: Orbis by Bureau van Dijk