Growth of Fortune 500 Businesses

๐ŸŒฑ๐Ÿ“Š The Fortune 500 survey encompasses companies that are firmly established within the United States and regularly submit financial statements to government authorities. This includes both publicly traded entities and privately owned enterprises. The list excludes private companies that do not share financial data with government agencies, foreign corporations, American firms subject to consolidation by other entities, and businesses that have not provided comprehensive financial reports for at least three quarters of the present fiscal year. Ratings are assigned based on total sales figures disclosed in their 10-K submissions or analogous financial statements for their respective fiscal cycles.

What is the Fortune 500?

โ“๐Ÿ’ผ The Fortune 500 stands as a compilation of the 500 largest corporations within the United States, a list unveiled annually by Fortune magazine. These corporations are evaluated based on their annual revenues within the specified fiscal years. This comprehensive roster encompasses both publicly traded and privately held companies, utilizing publicly available revenue data. Earning a spot within the Fortune 500 roster is commonly regarded as a prestigious achievement.

Fortune 500 Companies history

๐Ÿ“œ๐Ÿข The inception of Fortune magazine can be traced back to 1929 when Henry Robinson Luce brought it into being. The magazine's inaugural edition hit the shelves the following year and has since evolved into one of the globe's most influential business publications. Initially a monthly release, the magazine now boasts a schedule of 16 annual issues and a robust online presence.

How does the methodology of fortune 500 work?

๐Ÿ”๐Ÿ”ข Ranking Mechanism:
Companies in the Fortune 500 are positioned based on their total revenues, considering fiscal years ending on or before March 31. To feature on this list, all businesses are required to disclose financial data and submit portions or all of their financial information to government authorities. Reported figures are used, and comparisons are drawn with data from the previous year as initially reported. Adjustments for accounting purposes do not involve restating the preceding year's data.
Global vs. US Scope:
The Fortune Global 500 evaluates the world's leading 500 companies in terms of total revenue. In contrast, the Fortune 500 focuses exclusively on companies within the United States.

Interesting Statistics about FORTUNE 500 Companies

๐Ÿ“Š๐ŸŒ As the Fortune 500 marks its 65th annual publication, it continues to stand as a definitive benchmark of corporate success. This year's compilation showcases remarkable figures: a staggering $13.7 trillion in sales, a robust $1.1 trillion in earnings, an impressive $22.6 trillion in market value, and an extensive workforce of 28.7 million employees spanning the globe. These influential Fortune 500 enterprises contribute significantly, encompassing two-thirds of the United States' Gross Domestic Product (GDP).

Key Highlights from the Fortune 500

๐Ÿ”‘๐ŸŒŸ Here are several notable insights into the landscape of the 2019 Fortune 500 firms:
Colossal Revenue: In the year 2019 alone, the combined revenue of the Fortune 500 firms reached a remarkable $13.7 trillion, constituting approximately two-thirds of the entire U.S. GDP.
Minimum Revenue Bar: Every entity securing a spot on the Fortune 500 list displayed a minimum revenue of at least $5.6 billion, reflecting the substantial financial prowess of these corporations.
Walmart's Enduring Dominance: Holding its position as the top-ranked Fortune 500 enterprise since 2013, Walmart's financial might is evident with revenues totaling an astonishing $514 billion in 2019.

Top fortune 500 companies by their ranking 2023

๐Ÿฅ‡๐Ÿญ The annual update of the Fortune 100 Companies list stands as a hallmark of contemporary business evaluation. The current iteration marks the impressive 68th edition of the Fortune 500 ranking, capturing the essence of corporate prowess. The figures are nothing short of awe-inspiring: an aggregate market capitalization exceeding $33.20 trillion, an impressive $16.1 trillion in revenue, and a remarkable $1.8 trillion in profit. This numerical tapestry underscores the remarkable financial achievements of these industry titans.

Here are the top Fortune 500 firms with company revenue and sector:

๐Ÿ” Walmart - $611.28 billion - Retail
๐Ÿ“ฆ Amazon - $513.98 billion - Retail
โ›ฝ Exxon Mobil - $413.68 billion - Energy
๐Ÿ Apple - $394.32 billion - Technology
๐Ÿ‘จโ€โš•๏ธ UnitedHealth Group - $324.16 billion - Health Care
๐Ÿฅ CVS Health - $322.46 billion - Health Care
๐Ÿ’ฐ Berkshire Hathaway - $302.08 billion - Financial
๐Ÿ”ค Alphabet - $282.83 billion - Technology
โš•๏ธ McKesson - $263.96 billion - Health Care
โ›ฝ Chevron - $246.25 billion - Energy
๐Ÿ’Š AmerisourceBergen - $238.85 billion - Health Care
๐Ÿ›’ Costco Wholesale - $227.56 billion - Retail
๐Ÿ’ป Microsoft - $217.45 billion - Technology
๐Ÿฅ Cardinal Health - $212.14 billion - Health Care
๐Ÿฅ Cigna - $206.78 billion - Health Care
๐Ÿญ Marathon Petroleum - $199.54 billion - Energy
๐Ÿ”ง Phillips 66 - $189.88 billion - Energy
โ›ฝ Valero Energy - $187.57 billion - Energy
๐Ÿš— Ford Motor - $177.22 billion - Motor Vehicles & Parts
๐Ÿก Home Depot - $171.89 billion - Retail
๐Ÿš— General Motors - $157.65 billion - Motor Vehicles & Parts
๐Ÿฅ Elevance Health - $155.36 billion - Health Care
๐Ÿ’ผ JPMorgan Chase - $146.55 billion - Financial
๐Ÿ›’ Kroger - $139.12 billion - Food & Drug Stores
โš•๏ธ Centene - $135.31 billion - Health Care
๐Ÿ“ถ Verizon Communications - $132.85 billion - Telecommunication
๐Ÿฅ Walgreens Boots - $130.91 billion - Food & Drug Stores
๐Ÿ’ต Fannie Mae - $120.13 billion - Financial
๐Ÿ“บ Comcast - $119.49 billion - Telecommunication
๐Ÿ“ž AT&T - $118.55 billion - Telecommunication
๐Ÿ’ก Meta Platforms - $112.19 billion - Technology
๐Ÿ’ฐ Bank of America - $108.63 billion - Financial
๐ŸŽฏ Target - $106.89 billion - Retail
๐Ÿ’ป Dell Technologies - $94.99 billion - Technology
๐ŸŒพ Archer Daniels Midland (ADM) - $87.98 billion - Food, Beverages & Tobacco
๐Ÿ’ณ Citigroup - $87.85 billion - Financial
๐Ÿ“ฆ United Parcel Service - $87.57 billion - Transportation
๐Ÿ’Š Pfizer - $81.38 billion - Health Care
๐Ÿ  Loweโ€™s - $77.13 billion - Retail
โš•๏ธ Johnson & Johnson - $76.84 billion - Health Care
๐Ÿ“ฆ FedEx - $74.88 billion - Transportation
๐Ÿ‘ฉโ€โš•๏ธ Humana - $71.68 billion - Health Care
โ›ฝ Energy Transfer - $68.54 billion - Energy
๐Ÿ  State Farm Insurance - $67.95 billion - Financial
๐Ÿฆ Freddie Mac - $67.71 billion - Financial
๐Ÿฅค PepsiCo - $66.28 billion - Food, Beverages & Tobacco
๐Ÿฆ Wells Fargo - $66.22 billion - Financial
๐Ÿฐ Walt Disney - $62.89 billion - Media
โ›ฝ ConocoPhillips - $61.16 billion - Energy
๐Ÿš— Tesla - $58.66 billion - Automotive

๐Ÿ“ฎFAQ

Some Frequently Asked Questions.

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The Fortune 500 list is a prestigious compilation of the 500 largest US companies, ranked by their total revenue. It is published annually by Fortune Magazine.

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Companies are ranked based on their total revenues, considering fiscal years ending on or before March 31. They are required to disclose financial data to government authorities, and reported figures are compared with the previous year's data.

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The Fortune 500 list includes both publicly traded entities and privately owned enterprises that are firmly established within the United States. It excludes private companies that do not share financial data, foreign corporations, and businesses without comprehensive financial reports.

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Earning a spot within the Fortune 500 list is considered a prestigious achievement. It showcases a company's financial prowess and places it among the largest corporations in the United States.

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Fortune 500 companies collectively contribute significantly to the economy. They generate substantial sales, earnings, market value, and employment opportunities, encompassing two-thirds of the United States' Gross Domestic Product (GDP).

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The Fortune Global 500 evaluates the world's leading 500 companies in terms of total revenue. In contrast, the Fortune 500 focuses exclusively on companies within the United States.

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In the 2019 Fortune 500 compilation, remarkable figures were showcased, including $13.7 trillion in sales, $1.1 trillion in earnings, $22.6 trillion in market value, and a workforce of 28.7 million employees. Walmart, Amazon, and Apple were among the top-ranking companies.

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The Fortune 500 list is updated annually. It provides insights into the dynamic nature of the corporate landscape, highlighting the growth and innovations of influential businesses year after year.

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Fortune 500 companies are ranked based on their total revenues. Adjustments for accounting purposes are made, and comparisons are drawn with the previous year's data. The list includes both publicly traded and privately owned companies that disclose financial data.

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Yes, a company can appear on both lists. The Fortune Global 500 evaluates the world's leading companies, while the Fortune 500 focuses specifically on companies within the United States.

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