The ranking is based on revenue for the fiscal year 2011.
Fortune compares revenue and profits from fiscal year 2011 and 2010. Apple’s revenue in 2011 was $108.249 billion, up 66% compared to the previous year.
Profit for 2011 was $25.922 billion, up 85% on 2010.
At the top of the list is Royal Dutch Shell, with $484.489 billion in revenue and $30.918 in profits.
Samsung Electronics is in 22nd place, with $148.944 billion revenue and $12.059 billion profit.
HP is in 31st position, with $127.245 billion revenue and $7.074 profit.
The ranking shows clearly that Apple is making significantly more profit from its revenue than its competition.
Apple is ahead of Sony at number 87, which made $82.237 billion revenue and saw a loss of -$5.784 billion in profit.
Toshiba was in 97th place, with $77.261 billion in revenue and 934 million in profit.
Apple will report its third quarter 2012 financial results on 24 July.