Global economic profit (EP) pools have rebounded over the past four years, McKinsey’s analysis of the 4,000 largest nonfinancial companies (by market capitalization) since 2005 shows. Adjusted for inflation, EP between 2020 and 2024 reached about $1.2 trillion annually—50 percent higher than 2005–09 levels. Having recovered from a financial crisis, a global pandemic, and other macroeconomic shocks, EP has reached new highs, note Senior Partner Marc de Jong and coauthor. Whether this rebound endures will hinge on the continued outperformance of the Magnificent Seven tech companies and capital growth and profitability across Europe, mainland China, and North America.
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A bar chart illustrates global economic profit in trillions of dollars from 2005 to 2023, with values adjusted to 2023 prices. The data is divided into four distinct periods: 2005–09, 2010–14, 2015–19, and 2020–24, with a 5-year average profit indicated by a dashed line for each period. The average profit from 2005 to 2009 is ~$0.8 trillion, and the same for 2010–14. It then drops to ~$0.4 trillion from 2015 to 2019, and surges to ~$1.6 trillion from 2020 to 2024. Notably, the profits from 2021 to 2024 are significantly higher than the previous 15 years, with values exceeding $1.4 trillion in 2021 and 2022, and remaining high at ~$1.3 trillion in 2023 and 2024.
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Source: McKinsey Value Intelligence.
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To read the article, see “Global economic profit bounces back to an all-time high,” September 4, 2025.