While times are tough for big tech companies right now, the all-star list of Fortune’s 2023 World’s Most Admired Companies list shows that the titans are as admired by their peers as ever. Apple (AAPL) topped the annual corporate reputation ranking for the 16th year in a row, based on a survey of more than 3,700 corporate executives, directors and analysts. Amazon (Amazon) and Microsoft (Microsoft) tied for second place. Financial firms earn recognition for their solid survival in a hyperinflationary economy: JPMorgan Chase (No. 5) earns its highest ranking ever, while Morgan Stanley makes the All-Star list for the first time ( Top 50). Elsewhere, Costco Wholesale (No. 7) shrugged off its industry’s supply chain woes to reach its highest ranking ever. Netflix dropped from No. 9 to No. 29 as fierce competition eroded its dominance in streaming.
Regrettably, Chinese companies are absent from the All-Star list again this year. However, in the industry list, there are 7 Chinese companies shortlisted, which is less than that in 2022. Last year, 8 companies were shortlisted. They are: Asus Computer, No. 7 Lenovo and No. 8 Wistron in the computer industry; Alibaba, No. 7 in the Internet service and retail industry; Cathay Pacific, No. 7 in the aviation industry Aviation; Haier Zhijia, which ranks first in the home equipment and home furnishing industry; and TSMC, which ranks second in the semiconductor industry.
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——The editorial department of this journal
apple
Microsoft
Berkshire Hathaway
JPMorgan
walt disney
Pfizer
ALPHABET
Starbucks
BMW
Nvidia
all star list
| ranking | company name | industry |
|---|---|---|
| 1 | Apple | Computers and Communications |
| 2* | Amazon | Computers and Communications |
| 2* | Microsoft (Microsoft) | Computers and Communications |
| 4 | Berkshire Hathaway | finance |
| 5 | JPMorgan Chase | finance |
| 6 | Walt Disney | media and entertainment |
| 7 | Market Opener (Costco Wholesale) | store and distribution |
| 8 | Pfizer | natural resources |
| 9 | Alphabet | Computers and Communications |
| 10 | American Express | finance |
| 11 | Salesforce | Computers and Communications |
| 12 | Delta Air Lines | transportation |
| 13 | Walmart | store and distribution |
| 14 | Starbucks | store and distribution |
| 15 | Coca-Cola | consumer goods |
| 16* | Marriott International | media and entertainment |
| 16* | Nike | consumer goods |
| 18 | Federal Express (FedEx) | transportation |
| 19 | Goldman Sachs Group | finance |
| 20 | Home Depot | store and distribution |
| twenty one | Target | store and distribution |
| twenty two | Johnson & Johnson | natural resources |
| twenty three | Southwest Airlines | transportation |
| twenty four | Procter & Gamble | consumer goods |
| 25 | BlackRock | finance |
| 26 | USAA | finance |
| 27 | Nordstrom | store and distribution |
| 28 | BMW (BMW) | transportation |
| 29 | Netflix | media and entertainment |
| 30 | 3M | natural resources |
| 31 | Singapore Airlines | transportation |
| 32 | Accenture | Computers and Communications |
| 33 | CVS Health | contracting service |
| 34 | PepsiCo | consumer goods |
| 35 | ups | transportation |
| 36 | Toyota Motor | transportation |
| 37 | Bank of America | finance |
| 38 | McDonald’s | store and distribution |
| 39 | IBM | Computers and Communications |
| 40 | Morgan Stanley | finance |
| 41 | Nestlé | consumer goods |
| 42 | Samsung Electronics | Seiko |
| 43 | Danaher | Seiko |
| 44 | Publix Super Markets | store and distribution |
| 45 | Nvidia | Seiko |
| 46 | Unilever | consumer goods |
| 47 | Visa | finance |
| 48 | Lockheed Martin | transportation |
| 49 | Lowe’s | store and distribution |
| 50 | Charles Schwab | finance |
*ranked tied
25 years of experience in publishing Fortune’s list of the world’s most admired companies tells us that corporate reputation is a multifaceted concept. These include the impression you make on the general observer by producing outstanding performance, but also the personal respect from customers, employees and collaborators, and the most precious thing is the respect you earn from your competitors, because there is nothing more to them than acknowledging that you are The best in the industry has no choice.
Our list is designed to capture the elements. The All-Star list ranks companies based on praise from across the industry, including from business partners. Meanwhile, the rankings of each industry, which can be viewed online, are based on a third element, reflecting the ultimate position of each company in relation to its competitors in the industry.
If a company performs well in both rankings, it has the potential to operate at a world-class level, both publicly and privately. Apple has been at the top of the All-Star list for 16 consecutive years, mainly because of its historical profit level like a money printing machine and the reliability and popularity of its products. Meanwhile, Apple has topped the computer industry 13 times over the past 14 years, suggesting that competitors who know Apple best also admire it.
To develop the industry rankings, we asked respondents to rate their peers on nine specific criteria. In all 9 criteria, Apple ranks in the top ten of all companies in the industry in 8 of them. (Apple’s talent apparently impresses other companies as much as its technology, with Apple receiving top marks for “management quality” and “ability to attract, develop, and retain talent.”) Nvidia and UnitedHealth Group ( It is no coincidence that UnitedHealth Group also ranks in the top 10 in eight criteria, and both rank first in their respective industries (semiconductors and health insurance, respectively).
Other admired companies have also led the industry for many years. This year, Accenture holds the No. 1 spot in IT services for the tenth time in a row. Starbucks (food service) and BlackRock (securities/asset management) lead their respective industries for the 11th year in a row. Bank of America Group (Super Regional Bank) and UnitedHealth Group have received this honor for the 13th consecutive year. In the entertainment industry, management turmoil and turnover didn’t deter Walt Disney from its 20th consecutive top spot. Warren Buffett’s Berkshire Hathaway has been No. 1 in real estate and property insurance since 1998.
In other industries, the top spot has changed hands because of intense competition. In the home equipment industry, Haier Zhijia, a Chinese company that competes with Google’s Nest and Amazon, is at the top for the first time. In the field of medical equipment, Thermo Fisher Scientific, which provides equipment, materials and software to laboratories around the world, occupies the top spot. Motorola Solutions becomes an industry leader in networking and communications equipment.
Some former industry leaders have returned to the top of the industry after short absences. Home Depot took the top spot in the specialty retail industry for the first time since 2019. Two-year dormant Occidental Petroleum has taken the top spot in the mining/oil production industry — and somewhat made a name for itself — after CEO Vicky Hollub’s takeovers and green The technology strategy has been criticized by activist investors. Who is Occidental Petroleum’s largest shareholder? Berkshire Hathaway. It’s clear that some appreciated companies do appreciate each other.
A company that has been admired for 25 years
These five companies have made the list every year since the list was launched.
Berkshire Hathaway
The company owned by Buffett owns more than 60 companies, and the investment portfolio it manages ranks among the top all the year round.
Total Investor Return*: 675%
Coca Cola
After adding sports drinks and juices, Atlanta-based soft drink maker Coca-Cola struggled to keep up with consumer tastes.
Total investor return: 242%
Johnson & Johnson
The medical giant’s products include Band-Aids, hip systems and arthritis drugs, among others.
Total investor return: 678%
Microsoft
Microsoft is famous for Windows; cloud services and games keep Microsoft’s reputation in good stead.
Total Investor Return: 1,347%
Toyota cars
As one of the world’s largest automakers, Toyota has pushed to rewrite the rules of global manufacturing.
Total Investor Return: 391%
*Figures are total returns from October 27, 1998 to January 12, 2023. Source: Bloomberg
Ranking method
As in the past, Fortune continues its corporate reputation survey in partnership with Korn Ferry. We first selected approximately 1,500 companies, including the 1,000 largest U.S. companies ranked by revenue and non-U.S. companies in the Fortune Global 500 database with revenues of $10 billion or more. We sorted out the companies with the highest operating income in each industry, surveying a total of 645 companies from 27 countries. The companies with the highest scores come from these 645 companies, and the executives who voted for the companies are all in the same industry.
In order to find out the most respected companies in 52 industries, Korn Ferry asked executives, directors and analysts in each industry to rate their companies based on 9 criteria including investment value, management and product quality, social responsibility, and ability to attract talents. Ratings of companies in the industry. To be listed, companies must be in the top 50% of companies that scored in the industry survey. (For the full list, visit fortune.com.)
To obtain a list of the 50 most admired companies, regardless of industry, Korn Ferry asked 3,760 executives, directors and securities analysts who responded to industry surveys to select their 10 most admired companies. They selected companies that ranked in the top 25% of last year’s survey and companies that were in the top 20% of their respective industry surveys last year. Voting is not limited to industries and enterprises.
Differences in voting patterns can lead to some unusual results that appear to conflict with each other. For example, Adobe dropped out of this year’s All-Star list. But Adobe came in second in a poll that only counted people in the computer software industry. (Fortune Chinese website)
Translator: Feng Feng
Reviewer: Xia Lin
ALPHABET
THE 50 ALL-STARS
*A TIE INRANK
AS WE’VE LEARNED over a quarter-century of publishing the Fortune World’s Most Admired Companies list, a corporate reputation is a multifaceted concept. It includes the impression you make on casual observers by producing strong results. Then there’s the more intimate esteem you earn from customers, employees, and collaborators. Sweetest of all, there’s the respect you command from competitors when they have no choice but to acknowledge that you’re great at what you do.
Our list aims to capture all of these elements. Our All-Stars list ranks companies by the acclaim they win from the wider business community, including those they do business with. Meanwhile, our individual industry rankings, available online, capture that third category, The standing each company holds among rivals in its own industry.
When a company scores well on both rankings, it’s likely executing at an Olympian level, both in public and behind the scenes. Apple’s 16-year streak at No. 1 on the All-Stars list is a tribute to its historic cash-machine- like profitability and the reliability and popularity of its devices. But its top ranking in the computer industry—for the 13th time in 14 years—shows that it’s also impressing the competitors who know it best.
For the industry rankings, we ask respondents to rate their peers numerically on nine specific criteria. Apple landed in the top 10—among all companies, in all industries—in eight of those nine categories. (Its talent clearly makes as strong an impression as its tech: “Quality of management” and “ability to attract, develop, and keep talented people” were two criteria where Apple earned top marks.) Nvidia and UnitedHealth Group also landed in the top 10 in eight of nine categories, and each, not coincidentally, ranked No. 1 in its industry (semiconductors and health insurance, respectively).
Other admired companies can also boast a history of dominance. This year marks the 10th straight top ranking for Accenture in IT services. Starbucks (food services) and BlackRock (securities/asset management) topped their industries for the 11th consecutive year; superregional banks) and UnitedHealth collected their 13th blue ribbons in a row. In entertainment, turbine and turnover in the CEO’s office didn’t stop Walt Disney from claiming its 20th straight No. 1 ranking. And Warren Buffett’s Berkshire Hathaway property has to casualty insurance industry every year since 1998.
Elsewhere, competition led to changes at the top of the podium. In home equipment, Haier Smart Home, a Chinese competitor to Google’s Nest and Amazon, made its debut at No. 1. In medical equipment, Thermo Fisher Scientific, provider of gear, material, and software to the world’s laboratories, took the top spot. And Motorola Solutions earned the No. 1 ranking in network and communications equipment.
Some past winners reclaimed their crowns after brief absences. Home Depot took the No. 1 spot in specialty retailing for the first time since 2019. And Occidental Petroleum earned the top rank in mining/crude oil production after a two-year absence—a bit of vindication after a stretch in which CEO Vicki Hollub’s acquisitions and green-tech strategies drew criticism from activist investors. Occidental’s biggest shareholder? Berkshire Hathaway. Evidently, some admired companies really admire each other.
—Matt Heimer and Scott DeCarlo
—Matt Heimer and Scott DeCarlo
ADMIRED FOR 25 YEARS:
THESE 5 COMPANIES HAVE MADE THE ALL-STARS LIST EVERY YEAR SINCE IT LAUNCHED.
BERKSHIRE HATHAWAY
Buffett’s company owns more than 60 businesses and runs a perennially topranked stock portfolio.
TOTAL RETURN TO INVESTORS*: 675%
COCA-COLA
Adding sports drinks and juices has helped the Atlanta-based soft-drink maker keep up with consumer tastes.
TOTAL RETURN TO INVESTORS: 242%
JOHNSON & JOHNSON
This health care giant’s wares span a range that includes BandAids, hip implants, and arthritis drugs.
TOTAL RETURN TO INVESTORS: 678%
MICROSOFT
Windows put the tech Goliath on the map; cloud services and gaming have kept it in high repute.
TOTAL RETURN TO INVESTORS: 1,347%
TOYOTA MOTOR
One of the world’s biggest automakers, it helped rewrite the rules of global manufacturing.
TOTAL RETURN TO INVESTORS: 391%
*RETURNS FROM 10/27/98 THROUGH 1/12/23. SOURCE: BLOOMBERG
HOW WE DETERMINE THE LIST
AS WE HAVE IN THE PAST, Fortune collaborated with our partner Korn Ferry on this survey of corporate reputation. We began with a universe of about 1,500 candidates: the 1,000 largest US companies ranked by revenue, along with non-US companies in the Fortune Global 500 database that have revenues of $10 billion or more. We wonnowed the assortment to the highest-revenue companies in each industry, a total of 645 in 27 countries. The top-rated companies were picked from that pool of 645; work at the companies in that group.
To determine the bestregarded companies in 52 industries, Korn Ferry asked executives, directors, and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent’s. must rank in the top half of its industry survey to be listed. (For complete rankings, visit fortune.com.)
To select our 50 All-Stars, Korn Ferry asked 3,760 executives, directors, and securities analysts who had responded to the industry surveys to select the 10 companies they admired most. They chose from a list made up of the companies that ranked in the top 25% in last year’s surveys, plus those that finished in the top 20% of their industry. Anyone could vote for any company in any industry.
The difference in the voting rolls explains why some results can seem at odds with each other. For example, Adobe fell off the All-Stars list but ranked No. 2 within the computer software category when votes from only those in that industry were counted.
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