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The Fortune 500 is a list of the largest 500 companies in the United States ranked by total revenue. Since 1955, Fortune magazine has published the annual list, and it is considered one of the most well-known corporate rankings. The Fortune 500 list can be found online and in the print edition of the magazine.
Companies on the list come from a variety of sectors, such as technology, retail, healthcare and finance. These companies are known as some of the most influential in the world, and the list includes both privately-held and publicly-traded companies.
Here’s how companies make the list, the history behind the ranking and the top 10 companies for the past two years.
What qualifies a Fortune 500 company?
To be eligible for the Fortune 500 list, a company must be for-profit, publicly traded or privately held, and be a U.S.-based entity with financial statements filed with a U.S. government agency. The company must have revenue that placed it in the top 500 U.S. companies.
What’s the ranking methodology?
To create the list, the largest U.S. companies are ranked by total revenues for their respective fiscal years. For instance, the 2023 list uses numbers from 2022. Each company included must operate within the U.S. and have filed financial statements with a government agency for at least three quarters of the current fiscal year. Revenue numbers come from company filings and include consolidated subsidiaries as well as revenues from discontinued operations (with an exception for spin-off companies that make the list — they’re excluded). Profits are shown after taxes and before preferred dividends of the company.
An editor supervises the preparation of the list and an accounting specialist typically reviews and verifies company income statements and balance sheets. You can find the names and details of who was involved in creating the list under the “credits” section on the methodology page on Fortune.
The top 10 Fortune 500 companies
The top-ranked companies for 2023 and 2022 are listed below. Walmart has topped the list for the past 11 consecutive years. The 2024 list will be announced in late May.
| Rank | Top 10 Fortune 500 Companies 2023 | Top 10 Fortune 500 Companies 2022 |
|---|
| 1 | Walmart | Walmart |
| 2 | Amazon | Amazon |
| 3 | Exxon Mobil | Apple |
| 4 | Apple | CVS Health |
| 5 | UnitedHealth Group | UnitedHealth Group |
| 6 | CVS Health | Exxon Mobil |
| 7 | Berkshire Hathaway | Berkshire Hathaway |
| 8 | Alphabet | Alphabet |
| 9 | McKesson | McKesson |
| 10 | Chevron | AmerisourceBergen |
The history of the Fortune 500 list
While the magazine was founded in 1929 with the start of the Great Depression, the first Fortune 500 list wasn’t published until 1955. Edgar P. Smith, the assistant managing editor of Fortune, is credited for the idea.
Originally, the list only included mining, manufacturing and energy industry companies. The top three companies in 1955 were General Motors (with annual revenues of $9.8 billion), Exxon Mobil (with $5.6 billion), and U.S. Steel (with $3.2 billion).
In 1995, Fortune announced it would be including service companies, such as McDonald’s, Walmart and AT&T. Since the change, service companies had primarily made up the majority of the list.
Where can you find the Fortune 500 company list?
The Fortune 500 list is usually released in late May of each year and can be found online or in the June/July print issue. Non-subscribers can buy a single print copy if they prefer a physical version.
FAQs
What qualifies a Fortune 500 company? To be eligible for the Fortune 500 list, a company must be for-profit, publicly traded or privately held, and be a U.S.-based entity with financial statements filed with a U.S. government agency. The company must have revenue that placed it in the top 500 U.S. companies.
Who is number 1 on Fortune 500? ›
Fortune 500 Full List (2024)
| Rank | Company | Website |
|---|
| 1 | Walmart | www.walmart.com |
| 2 | Amazon.com | www.amazon.com |
| 3 | Exxon Mobil | www.exxonmobil.com |
| 4 | Apple | www.apple.com |
29 more rowsThe company is ranked 117th on the Fortune 500 and 219th on the Forbes Global 2000. It is the second largest entertainment/media company by market capitalization as of February 2022.
Is Costco a Fortune 500 company? ›
Costco is ranked #11 on the Fortune 500 rankings of the largest United States corporations by total revenue. Costco uses a club warehouse wholesale retailer channel of distribution while also selling their private label brand directly to consumers.
What is the richest Fortune 500 company? ›
Walmart remains No. 1 for the 10th consecutive year, while Saudi Aramco, which grew its revenues by 51%, claims the No. 2 spot (up from No. 6 last year).
Is Fortune 500 or 100 better? ›
The Fortune 100 is an annual list of the top 20% companies within the Fortune 500 List, which is the 500 largest U.S. companies published by Fortune magazine.
What is the richest company in the United States? ›
Walmart has been the world's largest company by revenue since 2014. The list is limited to the largest 50 companies, all of which have annual revenues exceeding US$130 billion. This list is incomplete, as not all companies disclose their information to the media and/or general public.
What is the wealthiest company in the world? ›
Is Fortune 500 or 1000 better? ›
The Fortune 1000 is a list of the top revenue-generating companies for the previous year. The Fortune 500 is a subset of the Fortune 1000 that comprises the largest 500 companies therein. The Fortune 100 is an even more elite subset, with the largest 100 revenue-generating companies.
Is Tesla a Fortune 500? ›
San Francisco, May 25 (Ians) Following the blockbuster 2021 results, Elon Musk-owned Tesla has climbed up the Fortune 500 list, with the electric vehicle maker jumping an impressive 35 spots to claim the number 65 spot in this year's rankings.
As of 2023, Target operates 1,948 stores throughout the United States, and is ranked No. 32 on the 2022 Fortune 500 list of the largest U.S. corporations by total revenue.
Is McDonald's a Fortune 500 company? ›
In 1995, Fortune announced it would be including service companies, such as McDonald's, Walmart and AT&T. Since the change, service companies had primarily made up the majority of the list.
Who is richer Walmart or Costco? ›
Walmart's stock is less than 10% from its all-time high and currently has a market capitalization of more than $415 billion. Costco, which has soared nearly 50% in 2023, is just a hair below its record high and now has a market value of about $300 billion.
Is Google a Fortune 500 company? ›
From Google To Walmart - Top 10 Companies On The Fortune 500 List Of 2023. The 2023 Fortune 500 list was recently revealed, with Walmart topping the list for the eleventh year in a row.
Is Disney a Fortune 500 company? ›
Disney is one of the biggest and best-known companies in the world and has been ranked number 53 on the 2022 Fortune 500 list of biggest companies in the United States by revenue. In 2023, the company's seat in Forbes Global 2000 was 87.
What is the minimum revenue for Fortune 500? ›
For companies meeting this criteria, there's a challenge to be eligible for the list. Every year, Fortune sets a revenue threshold for companies to meet to be considered for the list. In 2022, all listees had to have made at least $7.24 billion in revenue.
What revenue do you need to be in the Fortune 500? ›
NEW YORK, June 5, 2023 /PRNewswire/ -- Today, Fortune announced the 69th Fortune 500TM ranking, its annual list of the largest corporations in the United States, ranked by revenue for the 2022 fiscal year. The revenue threshold for making the Fortune 500 list was $7.2 billion this year, up 13% from a year ago.
What is the lowest revenue for a Fortune 500 company? ›
In the latest 2023 version of the Fortune 500 list, the lowest total revenue required to make the list was in excess of $7.2 billion U.S. dollars.
Is McDonald's Fortune 500? ›
In 1995, Fortune announced it would be including service companies, such as McDonald's, Walmart and AT&T. Since the change, service companies had primarily made up the majority of the list.
