Forbes: CVS, Textron, Hasbro among largest public cos. in world

CVS HEALTH, Textron and Hasbro all made Forbes’ list of the world’s largest public companies in 2016.
CVS HEALTH, Textron and Hasbro all made Forbes’ list of the world’s largest public companies in 2016.

PROVIDENCE – Three Rhode Island companies made Forbes’ list of the world’s largest public companies in 2016: CVS Health Corp., Textron Inc. and Hasbro Inc.

Woonsocket-based CVS ranked highest on the list, at No. 62, with a market cap of $110.8 billion as of May, Forbes said.
“The company reinvents pharmacy for better health and develops new ways to improve access for patients, promote better health outcomes and control payor costs in a way that no pharmacy retailer or [Pharmacy Benefit Manager] could do separately,” Forbes wrote.
Textron, in Providence, landed at No. 759.
With a market value of $10.8 billion, the manufacturer makes Beechcraft and Cessna aircraft through its aviation segment, and its Bell segment supplies military and commercial helicopters. Its Textron Systems segment consists of unmanned aircraft systems, land and marine systems, weapons and sensors. It also has industrial and finance segments.
Pawtucket toymaker Hasbro came in at No. 1,429. Its market cap was $10.9 billion.
Hasbro “operates under the brand names such as Littlest Pet Shop, Magic: The Gathering, Monopoly, My Little Pony, Nerf, Play-Doh and Transformers. Its offerings include boy’s action figures, vehicles and play sets, girls’ toys, electronic toys, plush products, preschool toys and infant products, electronic interactive products, creative play and toy-related specialty products,” Forbes wrote.
Forbes ranked companies based on sales, profits, assets and market value.
The 2016 Global 2000 list features public companies from 63 countries accounting for $35 trillion in revenue, $2.4 trillion in profit and $162 trillion of assets, with a combined market value of $44 trillion.
Despite a slowing Chinese economy that Forbes said hurt profits, Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China held onto their top positions. Their market values were $198 billion, $162.8 billion and $152.7 billion, respectively.
U.S.-based Berkshire Hathaway improved one spot to fourth on the list with profit of $24.1 billion and market value of $360.1 billion.

“The 2016 Global 2000 illustrates the headwinds public companies face from a slowing Chinese economy, the collapse in energy prices and ongoing actions by central banks in the U.S., Europe and Japan, among other trends. Still the dominant size of China’s banks, which command the top three spots for a second straight year, and the broad reach of U.S. companies, which account for the most members of the list, 587, show that even in a year when sales, profits and market values fell in aggregate, the world’s most powerful economies still produce the biggest public companies,” Steve Schaefer, senior editor, Forbes Media, said in a prepared statement.

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