Latest news with #ForbesGlobal2000
Forbes
31-07-2025
- Business
- Forbes
The Problem With Having Too Much Money
While I usually like to name the companies that I have been researching, for this article, I'm anonymizing my comments. Recently, I have been researching several companies in the same climate tech field. One—the younger of the two by several years—is based in the U.S. and the other is based overseas. The U.S.-based company has a charismatic CEO who was a co-founder of another climate tech startup back in the day and who has great connections in the U.S. VC and corporate VC world. He has even given a TED Talk. The overseas company is led by its low-key technical expert founder with no prior startup experience but 15 years of increasing professional responsibilities in a technical discipline. The two companies manufacture products whose technical specifications are nearly identical. My research leads me to believe that the overseas company's product is technically superior, but the race is pretty close on paper. Here is the kicker: The U.S.-based company has raised five times the amount of its overseas competitor—a total nine-figures of capital injected over several funding rounds. Because of this additional funding, the U.S. company has announced high-profile projects in many different locations worldwide. The customer and partner logos on its pitch deck look like a Who's Who of the Forbes Global 2000 list. Its competitor, on the other hand, has been constrained in its marketing efforts, so has focused on customers in its domestic market and kept costs low by running sequential pilots before embarking a few years ago on its first high-profile commercial project. One of the big biases in the VC world is that the speed at which a startup scales up is thought to be a proxy for its ultimate success. So a young startup that has raised nine figures early on, announced a lot of flashy partnerships and projects, and has a photogenic TED Talker at its helm looks like it will be a lot more successful than an older startup led by a technical guy that has raised less money and announced fewer projects more methodically. But, just as it's not a good idea to judge a book by its cover, it's dangerous to judge a startup based on announced deals and money raised. The U.S. company got over its skis and overpromised on its technical capabilities. As engineering work started on the projects, it became obvious that a lot more work would have to be done to get the systems integrated with customer facilities—and a lot more work means a lot higher cost. To make matters worse, several of its marquee projects were funded through U.S. government grants and those projects were cut off almost immediately after the Trump administration came into office. The foreign startup worked more methodically with its prospective clients and made sure they could under-promise and over-deliver. They also made sure that the systems they designed made good economic sense even without subsidies. This is not to say that everything went smoothly with the foreign startup. Anyone working on a first-of-a-kind, FOAK, project runs into issues—infrastructure improvements need to be made, permit frameworks don't cover the new technology so the company needed to apply for exceptions, et cetera. But two years after its last modest fundraise, the company says its financial position is still strong and that the revenues from the commercial project help attenuate its cash burn. It may sound counterintuitive to founders worrying about where the next payroll check is coming from but figuring out how to work within constraints helps most startups more than it harms them. When a startup's bank account is sloshing with easy money, founders get antsy to spend it. Headcount balloons and impossible promises are made to clients. Sooner or later, the bug of fantasy splats against the windscreen of reality. The morale of the story: sometimes having too much capital can be as dangerous to a startup as having too little. If you have the funds to design a product or service that meets and exceeds the expectations of customers that are willing and able to pay for them, you have enough capital. Intelligent investors take note.
National Post
29-07-2025
- Business
- National Post
Cintas Corporation Makes Forbes Global 2000 List for the Fourth Year in a Row
The facilities services company continues to rise in the rankings among the world's largest corporations, reflecting its ongoing growth and success Article content CINCINNATI — Cintas Corporation (Nasdaq: CTAS) has been named to the 2025 Forbes Global 2000 list, which ranks the largest companies in the world. Cintas has moved up the list each year and ranked No. 814 on the Global 2000 this year, up from No. 839 in 2024. Article content Article content To determine its Global 2000 ranking, Forbes evaluates the world's largest public companies based on four key metrics: sales, profits, assets, and market value. Article content 'Rising up the ranks each year on the Forbes Global 2000 list is a testament to the culture we've intentionally built—one that empowers our people and puts purpose at the center of every decision,' said Todd Schneider, Cintas President and CEO. 'Our unwavering dedication to this culture motivates us to succeed and deliver excellence to those we serve. Being recognized among the top global companies reflects that shared commitment and dedication.' Article content To create its 2025 Global 2000 list, Forbes used the most recent 12 months of companies' financial data that was available through April 25, 2025. Article content Cintas' fiscal year begins on June 1, resulting in the company's fiscal year 2024 fourth quarter, and its first, second and third quarters of fiscal year 2025 constituting Forbes' data sample. Using those four quarters, Forbes calculated Cintas' qualifying data as $10.14 billion in sales, $1.77 billion in profit, $9.61 billion in assets and a $84.15 billion market value for the previous 12 months ending April 25, 2025. Article content Cintas officially closed its fiscal year 2025 on May 31, 2025, and reported revenues of $10.34 billion, an increase of 7.7% over fiscal year 2024 revenues of $9.60 billion. Operating income for fiscal 2025 increased to $2.36 billion compared to $2.07 billion for fiscal 2024, an increase of 14.1%. Article content About Cintas Corporation Article content Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers' facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor's 500 Index and Nasdaq-100 Index. Article content Article content Article content Article content Article content
Indian Express
29-07-2025
- Business
- Indian Express
Top 10 largest Indian companies in 2025: Reliance Industries leads, globally ranks #45
Top 10 largest Indian companies in 2025: India has secured a prominent position in the latest Forbes Global 2000 list, which ranks the largest publicly traded companies worldwide. In a notable mention, all 70 Indian companies on the list highlight an impressive $1.3 trillion in sales, generate $126 billion in profits, hold $5.5 trillion in assets, and possess a market value of $2.3 trillion combined. Headed by Indian billionaire Mukesh Ambani, Reliance Industries continues to hold the top position in the Forbes Global 2000 India list, reporting impressive sales and profits of $114 billion and $8.24 billion, respectively, thereby also improving its global standing, moving up four ranks to #45. HDFC Bank — India's most profitable bank, ranking #2 — has made a significant leap, rising 12 spots to rank #53 globally in 2025. This advancement allowed it to surpass the state-run State Bank of India, which retained its global ranking at #55 but fell to 3rd place in India. Among India's most valuable companies, the Tata Group stands out with the largest representation, featuring six of its companies in the rankings — Tata Motors at #8, Tata Consultancy Services at #13, Tata Steel at #31, Titan at #50, Tata Power Company at #55, and the new entrant, Trent, at #70. Source: Forbes' Global 2000 – INDIA Methodology: The Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value – using the latest 12 months of financial data available to us as of April 25, 2015, to calculate the factors used in our rankings. Cherry Gupta is an Assistant Manager - Content at The Indian Express. She is responsible for crafting compelling narratives, uncovering the latest news and developments, and driving engaging content based on data and trends to boost website traffic and audience engagement. One can connect with her on LinkedIn or by mail at ... Read More
Business Insider
25-07-2025
- Business
- Business Insider
D-Wave Quantum (QBTS): Overvalued Stock or Real Revenue Turnaround? Two Investors Weigh In
D-Wave Quantum Inc. (QBTS) has emerged as one of the standout players in the quantum industry, garnering increased attention after its stock surged over 140% year-to-date, reaching above $20. Investors are now weighing whether the move reflects a turning point in commercial quantum computing or a temporary spike driven by a single large sale. Only yesterday, B. Riley and Canaccord Genuity issued a Buy rating, with a price target of $20 to $22, which drove an impressive 15% rise in one trading session. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. However, two investors see a different picture altogether. The Neutral Case: Pythia Research Pythia Research sees D-Wave as uniquely positioned in the quantum space. Unlike most peers still in development, the company already has customers using its hardware and cloud-based platform in production. In Q1 2025, revenue reached $15 million, up from $2.5 million in the prior year. Gross margin improved to 93.6%, and the company ended the quarter with $304 million in cash. Pythia Research points to real-world deployments, such as Ford Otosan (F), reducing vehicle scheduling times from 30 minutes to under 5 using D-Wave Quantum Inc.'s technology. The company's hybrid solvers now support up to 2 million variables, with potential applications in logistics, manufacturing, and pharmaceuticals. With the commercial quantum market expected to grow from $2.1 billion in 2024 to over $20.5 billion by 2034, Pythia Research believes D-Wave Quantum is well-positioned to benefit. However, Pythia Research maintains a Hold rating and sees one glaring warning sign. It notes that while D-Wave Quantum expanded to 133 customers in Q1, 25% of which are Forbes Global 2000 companies, its revenue remains heavily concentrated, with 85% tied to a single $12.6 million system sale that highlights both enterprise traction and deal-dependent risk. The Bear Case: Bears of Wall Street Bears of Wall Street presents a more bearish view. As with Pythia Research, it sees a glowing hazard sign from the concentrated revenue stream, the majority of which comes from a single hardware sale to the Julich Supercomputing Centre. QCaaS revenue remained flat at $1.53 million, and deferred revenue dropped from $19.4 million to $6.3 million. Bears of Wall Street also notes that D-Wave Quantum continues to fund operations through equity. The share count has increased more than 80% year-over-year. R&D expenses are over 400% of revenue, and adjusted EBITDA remains negative. The company trades at over 240x forward sales, a level they view as difficult to support without more substantial recurring revenue. Their valuation model estimates the stock to be worth $5.21 per share. average stock price target for QBTS is $18, implying an 11.33% downside. Takeaway D-Wave Quantum Inc. is generating real interest from institutional investors and enterprise customers. At the same time, its financials show a company still reliant on large one-time deals. Upcoming earnings and traction in QCaaS growth will be important for both bullish and bearish investors to watch closely.
Zawya
16-07-2025
- Business
- Zawya
Forbes Middle East unveils the 13th edition of its Global Meets Local ranking
The 2025 list features 104 regional leaders representing 100 Forbes Global 2000 companies. Executives hail from 42 nationalities, with India leading with 13 executives. Amazon's Ronaldo Mouchawar tops the ranking. Dubai, U.A.E.: Forbes Middle East has revealed the 13th edition of its flagship Global Meets Local ranking, spotlighting the regional heads of the world's most influential multinational corporations who are not only steering complex business landscapes but actively shaping the Middle East and North Africa's future across technology, logistics, finance, aerospace, and beyond. To compile this list, Forbes Middle East analyzed the 2025 Forbes Global 2000 list, selecting companies with substantial operations in the MENA region. The top-ranking executives from their regional headquarters were then assessed based on the scope of their responsibilities, impact and influence, sustainability initiatives, company performance, personal achievements, and public presence. Ronaldo Mouchawar, Vice President—Middle East, Africa & Türkiye at Amazon, secured the top spot this year. In August 2024, Amazon U.A.E. partnered with the Sharjah Publishing City Free Zone to empower local publishers and SMEs through training and platform access. Khaled Hobballah, Senior Country Officer—MENA and Head of Markets—MENA & Türkiye at J.P. Morgan, ranks second. Andrew Torre, President—Value-Added Services at Visa Inc., rounds out the top three. The 2025 ranking features 104 standout executives representing the regional offices of 100 Forbes Global 2000 companies. These leaders come from 42 different nationalities, with India leading with 13 executives, followed by the U.K. with 10, and Lebanon and Egypt with nine and seven, respectively. Among the ranked companies, 57% are headquartered in the U.S., with the remaining companies spread across 15 other countries. The list spans 20 diverse sectors, led by 23 technology companies, followed by eight automotive brands and seven food and drink firms, underscoring the region's accelerating focus on digital innovation and mobility. Multinational investments in the region continue to gain momentum. In 2025, FedEx signed a strategic MoU with Emirates Post to expand its delivery network across the U.A.E., and DHL pledged over $575 million to strengthen logistics infrastructure in fast-growing markets including Saudi Arabia and the U.A.E. The aerospace sector witnessed significant activity as Boeing and GE Aerospace announced a landmark $96 billion deal with Qatar Airways, in addition to a $14.5 billion agreement with Etihad Airways. In the technology and cybersecurity space, Mastercard launched a Cyber Resilience Center in Riyadh, while IBM partnered with the Dubai Future Foundation to launch a sovereign cloud and AI innovation center in Dubai—further advancing digital transformation across the region. Global Meets Local 2025 – Top 10 1. Ronaldo Mouchawar Company: Amazon Designation: Vice President—Middle East, Africa, & Türkiye Nationality: Syrian-American Global Headquarters: U.S. Sector: Technology 2. Khaled Hobballah Company: Designation: Senior Country Officer—MENA, and Head of Markets—MENA & Türkiye Nationality: British-Lebanese Global Headquarters: U.S. Sector: Banking and Financial Services 3. Andrew Torre Company: Visa Inc Designation: President—Value-Added Services Nationality: American Global Headquarters: U.S. Sector: Technology 4. Kami Viswanathan Company: FedEx Designation: President – Middle East, Indian Subcontinent & Africa Nationality: Indian Global Headquarters: U.S. Sector: Logistics 5. Dimitrios Dosis Company: Mastercard Designation: President – Eastern Europe, Middle East & Africa (EEMEA) Nationality: German Global Headquarters: U.S. Sector: Technology 6. Yasser Abdul Malak Company: Nestlé Middle East Designation: Chairman and CEO – MENA Nationality: Lebanese Global Headquarters: Switzerland Sector: Food, Drink and Tobacco 7. Guy Hutchinson Company: Hilton Designation: President – Middle East & Africa Nationality: British Global Headquarters: U.S. Sector: Hotels and Hospitality 8. Kuljit Ghata-Aura Company: Boeing Designation: President – Middle East, Türkiye, Africa & Central Asia Nationality: British Global Headquarters: U.S. Sector: Aerospace 9. Mohamed Abdallah Company: Vodafone Designation: CEO—Vodafone Egypt and Vodacom, International Markets (Tanzania, DRC, Lesotho, Mozambique) Nationality: Egyptian Global Headquarters: U.K. Sector: Telecommunications 10. Anthony Nakache and Abdul Rahman Al Thehaiban Company: Google; Google Cloud Designation: Nakache: Managing Director—MENA; Al Thehaiban: Managing Director— MENA & Türkiye Nationality: Nakache: French; Al Thehaiban: Saudi Global Headquarters: U.S. Sector: Technology About Forbes Middle East Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East's most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online. Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.
