Only a select few enterprises reach the exclusive $1 trillion market cap club. Those that do typically have their profit growth propelled by enduring global megatrends that enable them to deliver exceptional returns to their investors.

Here are two of the most likely companies to reach this elite status in the coming decade.

The payments leader

The world is increasingly shifting away from cash and toward digital transactions. As the operator of the largest debit and credit card payment network in the world, Visa (V -0.10%) stands to profit from this trend more than any other company.

Visa's payment platform makes it possible for its roughly 4 billion cardholders to make purchases at more than 80 million merchant locations in more than 200 countries and territories. In turn, it processes more than 250 billion transactions annually. Visa is the definition of a global financial services titan, and as such, it's particularly well positioned to benefit from the growth of the global economy.

Moreover, Visa does not take on counterparty risk for the card payments it processes. This risk is borne by its banking partners that issue credit cards. Visa, on the other hand, earns a small fee for processing transactions. This makes Visa's stock a much safer way to profit from the growth of digital payments than bank stocks.

Visa's tollbooth-like business model is also highly lucrative. Its net revenue jumped 22% to $29.3 billion in its 2022 fiscal year ended Sept. 30. Visa's adjusted net income and earnings per share, meanwhile, increased 24% and 27%, respectively, to $16 billion and $7.50. 

Much of Visa's future growth will come in international markets, where 1.7 billion people still do not have access to basic financial services. The global credit card payments market is forecast to grow by more than 8% annually to over $260 billion by 2028, according to Allied Market Research. Visa's profits are likely to grow even faster, thanks to its tremendous operating leverage.

All told, Wall Street expects Visa earnings to increase by roughly 15% annually over the next half-decade. Even if you assume Visa's earnings growth moderates to 12% in the subsequent two years, that would place it on track to generate over $40 billion in profit by the end of the decade. 

Based on these estimates, for Visa to be valued at $1 trillion by 2030, its stock would need to trade for about 25 times earnings at that time. That's a fair price to pay for this dominant, highly profitable, and relatively low-risk payments leader. For context, Visa's shares now trade for 30 times trailing earnings at its current $457 billion market cap.  

The semiconductor star

Like Visa, Taiwan Semiconductor Manufacturing (TSM 3.32%) is poised to benefit from powerful long-term trends. Artificial intelligence, 5G, virtual and augmented reality, autonomous vehicles, and the Internet of Things are all set to drive demand for semiconductors into the stratosphere in the decade ahead. And many companies rely on TSMC to make the chips they need.

TSMC is the manufacturer of choice for leading chip designers like Apple and Nvidia. It commands a roughly 58% share of the semiconductor foundry market, according to Statista. Yet even that understates TSMC's technological dominance. A far higher percentage of the most cutting-edge chip designers -- about 85%, according to TSMC's estimates -- rely on the company's production network.

In all, TSMC produced more than 12,000 different products using 288 different technologies for over 500 customers in 2022. Clearly, TSMC plays a vital role in the tech industry, as well as the overall economy.

The chipmaker's importance can also be seen in its financial statements. TSMC's revenue surged 43% to $76 billion in 2022. And its net income soared 70%, to $34 billion, or $6.57 per share. 

TSMC's incredible profitability allows it to invest tens of billions of dollars annually to expand and upgrade its manufacturing facilities. The chip giant is planning to build new production sites in the U.S., Japan, and possibly Germany. These factories should help to diversify TSMC's network and strengthen its presence in its most important markets.

Analysts on average forecast TSMC earnings growth of 21.5% annually over the next five years. If you assume its growth rate slows to 15% in the subsequent two years, TSMC would generate roughly $120 billion by the end of the decade. 

For its stock to be valued at $1 trillion by then, TSMC would need to trade for slightly more than 8 times these projected earnings. That's likely far too cheap for such an elite business. For perspective, investors are paying nearly 14 times trailing earnings for TSMC shares today at its current market cap of $466 billion. Thus, the market will likely value TSMC at $1 trillion well before 2030.