Based on data provided by the American financial institution FactSet on companies' net income for the latest fiscal year, this list presents the world's 10 most profitable companies.

Four companies on this list are based in China and they are all banks. Of the 10 most profitable companies, two are based in the United States, both technology giants. In all, three industries account for the world's most profitable companies. Four of the most profitable companies are banks, the most of any sector, and all based in China. Three companies are in the energy industry and three in technology.

The data from FactSet are expressed in U.S. dollars, using the average annual exchange rate of local currencies against the dollar where applicable. Income from continuing operations — excluding extraordinary and discontinued items from earnings — is an important indicator of the profitability of a company's core business.

Here are the top 10 most profitable companies in the world:

 

Microsoft [File photo]

Net income from cont. operations: $22.1 billion

Country: United States

Industry: Systems software

Revenue: $86.8 billion