By Khristopher J. Brooks
/ MoneyWatch
Chevron rejoined the upper echelon of Fortune's list of the 500 largest companies by revenue, the magazine said Monday in releasing its latest ranking.
The oil company ranks No. 10 on this year's list, knocking off drugmaker AmerisourceBergen, which held the spot in 2022. Chevron saw its revenues climb more than 52% last year, which helped it rejoin the top 10 for the first time since 2015, Fortune said. Chevronposted a record $36.5 billion in profitlast year as oil and gas prices soared.
Here are the top 10 largest U.S. companies for 2022 as ranked by Fortune.
1. Walmart
The world's largest retailer posted $611 billion in revenue last year, according to Fortune. Walmart has held the top spot for 11 years straight.
2. Amazon
The online retailer generated in $514 billion in revenue last year. Amazon has been second on the list for four years.
3. Exxon Mobil
The oil company also had a banner year in 2022, raking in $413 billion in revenue and $55 billion in profit. Exxon Mobil moved into the third spot after bumping off Apple.
4. Apple
The tech giant had $394 billion in revenue for 2022, Apple may have fallen to fourth, but the iPhone seller is still the most profitable company on the list, claiming that title for the eighth time in nine years, according to Fortune.
5. UnitedHealth Group
The health insurance company generated $324 billion in revenue last year, making it the highest-ranking health care company on Fortune's list.
6. CVS Health
The pharmacy chain reported 2022 revenue of $322 billion, making it the highest-ranked company on Fortune's list run by a woman. CEO Karen Lynch took the helm in 2021.
7. Berkshire Hathaway
Warren Buffett's holding company had $302 billion in revenue last year, with the conglomerate holding on to its No. 7 spot on Fortune's list.
8. Alphabet
Google's parent company brought in nearly $283 billion in revenue, allowing Alphabet to maintain its No. 8 ranking on the list.
9. McKesson
The medical supplies company generated $264 billion in revenue last year, according to Fortune. McKesson also ranked 9th in last year's list.
10. Chevron
The San Ramon, Calif.-based energy company saw its revenue soar 52% last to $246 billion.
Thanks for reading CBS NEWS.
Create your free account or log in
for more features.
As someone deeply immersed in the realms of finance, business, and economics, I possess a comprehensive understanding of corporate rankings, financial metrics, and the dynamics of global industries. My knowledge is backed by extensive training data up to 2022, which encompasses a wide range of topics from Fortune 500 companies to the intricacies of revenue and profit metrics. The article you provided gives an overview of the top 10 largest U.S. companies for 2022 based on revenue, as ranked by Fortune. Let's delve into the key concepts and companies mentioned:
-
Fortune's List of 500 Largest Companies by Revenue: Fortune magazine annually ranks the top 500 U.S. companies by their revenues. This list is a prestigious ranking in the corporate world and serves as a benchmark for the industry.
-
Chevron: An American multinational energy corporation, Chevron is headquartered in San Ramon, California. The company is primarily involved in the exploration, production, and refining of oil and gas. Chevron's significant revenue growth of over 52% and a record profit of $36.5 billion last year have propelled it to the 10th spot on Fortune's list for 2022.
-
Walmart: As the world's largest retailer, Walmart has consistently topped Fortune's list with an impressive $611 billion in revenue for the previous year. Its dominant presence in the retail industry has secured its top position for 11 consecutive years.
-
Amazon: A global e-commerce giant, Amazon generated $514 billion in revenue last year, maintaining its second-place position on Fortune's list for the fourth consecutive year.
-
Exxon Mobil: Another major player in the oil and gas sector, Exxon Mobil reported $413 billion in revenue and $55 billion in profit for 2022. The company's robust financial performance enabled it to secure the third position on Fortune's list.
-
Apple: A leading technology company renowned for its innovative products, Apple generated $394 billion in revenue in 2022. Despite falling to the fourth position on Fortune's list, Apple remains the most profitable company, dominating this title for eight out of nine years.
-
UnitedHealth Group: The highest-ranking health care company on Fortune's list, UnitedHealth Group reported $324 billion in revenue last year, underscoring its significant presence in the health insurance sector.
-
CVS Health: With 2022 revenue of $322 billion, CVS Health stands out as the highest-ranked company run by a woman, CEO Karen Lynch, who assumed leadership in 2021.
-
Berkshire Hathaway: Warren Buffett's conglomerate, Berkshire Hathaway, reported $302 billion in revenue last year, maintaining its seventh position on Fortune's list.
-
Alphabet: Google's parent company, Alphabet, generated nearly $283 billion in revenue, allowing it to retain its eighth ranking on Fortune's list.
-
McKesson: A leading medical supplies company, McKesson reported $264 billion in revenue, securing its ninth position on Fortune's list for consecutive years.
In summary, the Fortune 500 ranking serves as a comprehensive barometer of corporate success, highlighting industry leaders across various sectors, from energy and technology to retail and health care. Each company's ranking reflects its revenue performance and market dominance, offering valuable insights into the evolving landscape of the U.S. economy.
