fortune 500

Fortune Editors

Ever wonder how many Fortune 500 companies are in your state? (Or how often those companies made the cut over the last 20 years?) Our director of infographics, Nicolas Rapp, offers a look at where they're located—and how far some have come (or fallen).

The United States of F500

More Fortune 500 coverage

Kristin Stoller

Booking Holdings CEO says the future of cheap flights is uncertain: ‘That’s like trying to predict the weather’

Jenn Brice

Pat Gelsinger lost out on massive $140 million performance bonus—but he'll have earned at least $46 million for his four years as Intel's CEO

Michael del Castillo

Walmart CEO shares lessons of drone delivery at Morgan Stanley gathering

Fortune 500 Power Moves: Which executives gained and lost power, Dec. 1–13, 2024

The Fortune 500, in its 70th year, ranks the biggest U.S. companies by revenue. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $18.8 trillion in revenues, $1.7 trillion in profits, and $43 trillion in market value (as of March 28, 2024), and they employ 31 million people worldwide.

Walmart

Amazon

Apple

UnitedHealth Group

Berkshire Hathaway

CVS Health

Exxon Mobil

Alphabet

McKesson

Cencora

The Top 10

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

Fortune 500 – The largest companies in the U.S. by revenue | Fortune

Companies are <a target="_blank" rel="noopener noreferrer" href="https://fortune.com/ranking/fortune500/2024/">ranked</a> by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S., operate in the U.S., and file financial statements with a government agency. This includes private companies and cooperatives that file a 10-K or a comparable financial statement with a government agency, and mutual insurance companies that file with state regulators. It also includes companies that file with a government agency but are owned by private companies, domestic or foreign, that do not file such financial statements. Excluded are private companies not filing with a government agency; companies incorporated outside the U.S.; and U.S. companies consolidated by other companies, domestic or foreign, that file with a government agency. Also excluded are companies that failed to report full financial statements for at least three-quarters of the current fiscal year. Percent change calculations for revenue, net income, and earnings per share are based on data as originally reported. They are not restated for mergers, acquisitions, or accounting changes. The only changes to the prior years’ data are for significant restatement owing to reporting errors that require a company to file an amended 10-K.The <a target="_blank" rel="noopener noreferrer" href="https://fortune.com/ranking/fortune500/sector/">Fortune Sector Leaders</a> lists highlight the biggest Fortune 1000 companies by annual revenue within each sector. Fortune 1000’s 70 industries are grouped into 19 sector lists. The highest-revenue companies in the top half of each sector are listed and ranked. The number of companies in each list differ and are determined by the total number of companies the respective sectors.

Overview

Revenues are as reported, including revenues from discontinued operations when published. If a spin-off is on the list, it has not been included in discontinued operations. Revenues for commercial banks includes interest and noninterest revenues. Revenues for insurance companies include premium and annuity income, investment income, and capital gains or losses, but exclude deposits. Revenue figures for all companies include consolidated subsidiaries and exclude excise taxes. Data shown are for the fiscal year ended on or before Jan. 31, 2024. Unless otherwise noted, all figures are for the year ended Dec. 31, 2023.

Revenues

Profits are shown after taxes, extraordinary credits or charges, cumulative effects of accounting changes, and noncontrolling interests (including subsidiary preferred dividends), but before preferred dividends of the company. Figures in parentheses indicate a loss. Profit declines of more than 100% reflect swings from 2022 profits to 2023 losses. Profits for real estate investment trusts, partnerships, and cooperatives are reported but are not comparable with those of the other companies on the list because they are not taxed on a comparable basis. Profits for mutual insurance companies are based on statutory accounting.

Profits

Assets are the company’s year-end total. Total stockholders’ equity is the sum of all capital stock, paid-in capital, and retained earnings at the company’s year-end. Excluded is equity attributable to noncontrolling interests. Also excluded is redeemable preferred stock whose redemption is either mandatory or outside the company’s control. Dividends paid on such stock have been subtracted from the profit figures used in calculating return on equity.

Balance sheet

The figure shown is a fiscal year-end number as published by the company in its annual report. Where the breakdown between full- and part-time employees is supplied, a part-time employee is counted as one-half of a full-time employee.

Employees

The figure shown for each company is the diluted earnings-per-share figure that appears on the income statement. Per-share earnings are adjusted for stock splits and stock dividends. Though earnings-per-share numbers are not marked by footnotes, if a company’s profits are footnoted it can be assumed that earnings per share is affected as well. The five-year and 10-year earnings-growth rates are the annual rates, compounded.

Earnings per share

Total return to investors includes both price appreciation and dividend yield to an investor in the company’s stock. The figures shown assume sales at the end of 2023 of stock owned at the end of 2013, 2018, and 2022. It has been assumed that any proceeds from cash dividends and stock received in spin-offs were reinvested when they were paid. Returns are adjusted for stock splits, stock dividends, recapitalizations, and corporate reorganizations as they occurred; however, no effort has been made to reflect the cost of brokerage commissions or of taxes. Total-return percentages shown are the returns received by the hypothetical investor described above. The five-year and 10-year returns are the annual rates, compounded.

Total return to investors

No attempt has been made to calculate median figures in the tables for groups of fewer than four companies. The medians for profit changes from 2022 to 2023 do not include companies that lost money in 2022 or lost money in both 2022 and 2023, because no meaningful percentage changes can be calculated in such cases.

Medians

This Fortune 500 Directory was prepared under the direction of list editor Scott DeCarlo. Income statement and balance sheet data provided by the companies were reviewed and verified against published earnings releases, 10-K filings, and annual reports by accounting specialist Rhona Altschuler. Markets editor Kathleen Smyth used those same sources to check the data for earnings per share. In addition, we used data provided by Refinitiv (an LSEG business) and S&amp;P Global Market Intelligence to calculate total return and market capitalization. The data verification process was aided substantially by information provided by S&amp;P Global Market Intelligence.

Credits

legacy

Fortune 500

Costco Wholesale

JPMorgan Chase

Microsoft

Cardinal Health

Chevron

Cigna

Ford Motor

Bank of America

General Motors

Elevance Health

Citigroup

Centene

Home Depot

Marathon Petroleum

Kroger

Phillips 66

Fannie Mae

Walgreens Boots Alliance

Valero Energy

Meta Platforms

Verizon Communications

AT&T

Comcast

Wells Fargo

Goldman Sachs Group

Freddie Mac

Target

Humana

State Farm Insurance

Tesla

Morgan Stanley

Johnson & Johnson

Archer Daniels Midland

PepsiCo

United Parcel Service

FedEx

Walt Disney

Dell Technologies

Lowe's

Procter & Gamble

Energy Transfer

Boeing

Albertsons

Sysco

General Electric

Lockheed Martin

American Express

Caterpillar

MetLife

HCA Healthcare

Progressive

Deere

Nvidia

StoneX Group

Merck

ConocoPhillips

Pfizer

Delta Air Lines

TD Synnex

Publix Super Markets

Allstate

Cisco Systems

Nationwide

Charter Communications

AbbVie

New York Life Insurance

Intel

Prudential Financial

United Airlines Holdings

Performance Food Group

Tyson Foods

American Airlines Group

Liberty Mutual Insurance Group

Nike

Oracle

Enterprise Products Partners

Capital One Financial

Plains GP Holdings

World Kinect

Coca-Cola

TIAA

Bristol-Myers Squibb

Best Buy

Sector

Industry

Headquarters City

Gained in Rank

Dropped in Rank

Newcomer to the Fortune 500

Profitable

Founder is CEO

Female CEO

Growth in Jobs

Global 500

Best Companies

State

World's Most Admired Companies

Rank

Revenues ($M)

Revenue Percent Change

Profits ($M)

Profits Percent Change

Assets ($M)

Market Value ($M)

Change in Rank (Full 1000)

Change in Rank (500 only)

Fortune 500

Fortune 500 Ranking (2024)