It really depends on your definition of ethical. Volkswagen is unarguably unethical (or at least has been unethical) and profited hugely because of it. Nestle wants to have a monopoly on water. Almost all tradition energy companies (some of them are the biggest, most successful companies in the world) make the rest of the world pay for the negative externalities that they create.

Volkswagen found that being unethical was not hugely profitable in the long term.