Saudi Arabia's state-run oil company Saudi Aramco is by far the world's most profitable company, according to a note published Monday by credit rating agency Moody's.

The company made a profit of $111 billion in 2018, according to Moody's based on a prospectus for a bond offering the company expects to use to help it finance the purchase of 70% of Saudi Basic Industries Corp. Aramco hopes to buy a stake in the state-owned petrochemical company for $69.1 billion.

The company had revenue of $355.9 billion in 2018 and $48.8 billion of cash on the books at the end of the year. Saudi Aramco's cash on hand easily covered its $27 billion debt load.

The company was reportedly gearing up to debut publicly last year in an initial public offering that was expected to raise $100 billion for Saudi Aramco. However, those plans never materialized.

Saudi Aramco's bottom line dwarfs that of one of the most profitable companies in the world: Apple (AAPL) - Get Report .

This tech stock is currently the world's most profitable public company, recording a bottom-line of $59.4 billion in 2018.

Apple is a key holding in Jim Cramer's Action Alerts PLUS charitable trust.

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