Forbes Global 2000 ranks Greenland Holdings at #415, sliding from #372 (and previously #307); market cap dropping

It's been two straight setbacks for Greenland Holding Group (aka Greenland Holdings Group) in Forbes magazine's Global 2000 listing.

After rising to 307 two years ago, last year it dropped to 372 and this year continued sliding, to 415.

That contrasts with Greenland's steady rise on the Fortune Global 500 ranking, noted yesterday, to 125. 

The two rankings are not the same. Forbes bases its assessment on four broad metrics: a composite score assessing sales (revenue), profits, assets, and market value. 

The better-known Fortune ranking relies solely on revenue in the past fiscal year.

Neither takes notice of Greenland's significant debts, which have caused its credit rating to plunge to Selective Default, as per S&P, before recovering slightly.

Drilling down

As shown in the screenshot below, Forbes ranks Greenland far higher than its overall metric in sales and assets, but well behind in profits and market value. Its market cap (total value of shares) of $9.4 billion, as of the valuation date 4/22/22, is well below its 2021 market cap of $10.4 billion. 

That 9.6% drop in market cap is more than twice the 4% dip faced collectively by the 2,000 companies on the list. As Forbes noted:

As the world emerges from a painful pandemic, sales and profits for the world’s largest companies are higher, but many companies continue to face economic challenges related to bottlenecks in the supply chain and a surge in inflation.

(Today, that market cap continues to drop, given the low stock price.)

That said, Greenland's revenue has risen steadily, and profits have recovered, after falling last year.

The big picture

Forbes wrote, leading off its 5/12/22 overview:

Despite challenges brought on by the pandemic, ongoing war and unpredictable markets, the world’s largest public companies managed to boost sales and profits in the last year. Healthy income statements, however, mask a new economic reality which is devoid of government stimulus and features much lower stock values as inflation and a bearish market turn have put a damper on economic recovery.

Forbes's summary re Greenland:

Greenland Holdings Corp. Ltd. engages in the development, sale and leasing of real estates. It also offers second-hand housing agency, financial services, leasing of industrial parks, commercial & hotel operation, metro investment industry and entrusted construction management services. The Company was founded on July 18, 1992 and is headquartered in Shanghai, China.