Any mention of the Fortune 500 is coextensive with the performance and success of a venture in the business world. Every year, Fortune magazine provides a list of businesses with their headquarters and incorporation in the USA. Based on the revenue produced during the specified fiscal year, the Fortune 500 companies list is compiled. The list includes detailed information on a large number of U.S. firms, such as assets, stockholder equity, earnings per share, and post-tax income.
With such a broad range of determinants, the Fortune 500 list is the gold standard in the business industry. The Fortune 500 companies reflect the importance of an industry in the commercial domain and its likelihood to affect the future economy. For any entrepreneur aiming to establish their foothold in the B2B industry or to expand the outreach of a product, it’s imperative to learn from the best, I.e., Fortune 500 companies.
Here’s how you can develop deep insights into the business industry with the enlisted high-yield ventures!
Top 10 Fortune 500 Companies in the USA
Every publication of Fortune 500 companies represents more than 2/3rd the GDP of the U.S. The revenue threshold was increased from 2021 to 2022 by 19% to USD 6.4 billion. To be more specific, businesses that exceed the established cap can join the Fortune 500 list.
| SL No. | Company | Website | Revenue(M) | Employee Size |
|---|---|---|---|---|
| 1 | Walmart | www.walmart.com/ | USD 572,754 | 2,30,0000 |
| 2 | Amazon | www.amazon.com/ | USD 469,82 | 16,08,000 |
| 3 | Apple | www.apple.com/ | USD 3,65,817 | 1,540,00 |
| 4 | CVS Health | www.cvshealth.com/ | USD 2,92,111 | 2,58,000 |
| 5 | UnitedHealth Group | www.unitedhealthgroup.com/ | USD 2,87,597 | 3,50,000 |
| 6 | ExxonMobil | www.corporate.exxonmobil.com/ | USD 2,85,640 | 63,000 |
| 7 | Berkshire Hathaway | www.berkshirehathaway.com/ | USD 2,76,094 | 3,72,000 |
| 8 | Alphabet | www.abc.xyz// | USD 2,57,637 | 1,56,500 |
| 9 | McKesson | www.mckesson.com/ | USD 2,63,966 | 66,500 |
| 10 | AmerisourceBergen | www.amerisourcebergen.com/ | USD 2,13,988 | 40,000 |
1. Walmart
For the ninth consecutive year, Walmart has topped the list of companies exceeding the 500 billion mark. Currently, the retail giant operates more than 10500 markets, including department stores and grocery marts in more than 24 countries. Walmart is also the world’s biggest private employer giving jobs to more than 2.3 million workers across the globe.
2. Amazon
The American tech multinational is consistently achieving marks of great success every year. The pandemic has further increased the demand of one of the top players in the Big Five by increasing more than 200 million Prime subscribers in 2021.
Positioned at Rank 2, the tech leader has witnessed a remarkable growth in revenue of USD 469 billion from USD 386 billion in 2020.
3. Apple
Ever since the inauguration of the Fortune 500 list, the tech giant Apple has been an evergreen member of the elite club. In 2022, the company stands at the third position with a revenue of USD 365,817 million. Additionally, the company is also an employee of more than 150,000 individuals.
4. CVS Health
The parent company of CVS Pharmacy, CVS Health, operating more than 10,000 retail healthcare stores across the U.S., is in fourth place. The active role in combatting coronavirus has gained the corporation international acclaim and enhanced revenue of USD 292,111 million.
5. United Health Group
With an upgraded revenue of USD 242,155 million, United Health Group is a part of the Fortune 500 companies list. Not only is the company U.S.’s largest health insurer, but also one of the World’s Most Admired Companies in Fortune 2022. From innovation to corporate assets, the company has been showing magnificent growth and excellence toward holistic development.
6. ExxonMobil
Despite struggling in 2020, America’s largest oil and gas company in the public trading sector has acquired a place amongst the highest revenue-generating companies. With a revenue of USD 285,640 million and a market value of USD 371,841 million, the petrochemical leader is a stellar example of market domination in the oil and gas industry.
7. Berkshire Hathaway
Owned by the market genius Warren Buffett, the company has consistently topped the charts through an increase in revenue and market value. With holdings in internationally successful companies like Coca-Cola, Duracell etc., the company has attained Rank 7 in the 68th release of Fortune 500.
8. Alphabet
The parent company of Google and its subsidiaries crossed the mark of USD 200,000 million to find a position amongst the leading world businesses. According to Macro Trends, Alphabet’s revenue reached USD 257 billion, witnessing a staggering 41% growth from 2020.
9. McKesson
The United States fourth-largest pharmacy chain has secured the ninth position in Fortune 500 companies list. The company has its business spanning across different verticals in healthcare, including medical supplies, retail pharmacy and pharmaceutical distribution. Additionally, McKesson is also the largest drug distributor in the U.S., accounting for more than a third of medicines used every day.
The current revenue of the organization stands at USD 263,966 million with a market value of USD 47 377.
10. AmerisourceBergen
With a fall of two spots from the 67th Fortune 500 edition, AmerisourceBergen is in 10th place in Fortune 500 companies in the U.S. The Pennsylvania-based healthcare wholesaler is the second-largest drug distributor in the U.S. The company provides a range of brand-centric and over-the-counter medicine, supplies and pharmaceutical equipment.
Factors Considered For Categorizing Fortune 500 List
1. Kind of Companies
According to Fortune, the main elements for enlisting the best-performing companies comprise incorporation, operation and taxation with a government agency in the U.S. These ventures include private companies and corporations that file their financial statement in 10-K or other similar reports. Mutual insurance businesses were also required to report to state agencies.
In the list of excluded companies, the Fortune magazine doesn’t take into account the following incorporations:
- Companies founded outside the U.S.
- Private companies not reporting to a government agency
- S. companies consolidated by other ventures
- Companies that failed to undertake complete financial reporting in the current fiscal year for at least three quarters
2. Revenues
The magazine takes an organization’s complete income structure into account. It involves:
- Reported revenue comprising discontinued operations, excluding a spin-off
- Interest and non-interest revenue for commercial banks
- Annuity and premium income, investment income, capital gains or losses excluding deposits
- Consolidated subsidiaries revenues, except for excise taxes
3. Profits
The profit structure included by Fortune for the duration of its list includes gains after the following:
- Taxes
- Extraordinary charges
- Cumulative accounting changes
- Non-controlling interests, including subsidiary, preferred dividends without preferred dividends
Additionally, profits for insurance companies are calculated according to statutory accounting.
4. Balance Sheet
The Fortune 500 experts include the company’s year-end expenses in the balance sheets. It also considers the entire shareholders’ equity, which comprises paid-in capital, retained earnings, and capital stock. However, not all costs are recorded on the balance sheet to evaluate the performance of the business.
The main excluding elements are:
- Non-controlling interests’ equity
- Redeemable stock (Preferred)
- Dividends paid for these subtracted stocks
5. Employees
The number of employees present at the end of a fiscal year is attributed to the company’s annual staff. It also counts part-time employees as half the share of a full-time employee.
6. Earnings per share
The experts in this field take into account diluted earnings per share in this category. These earnings have also been modified to account for stock splits and dividends. Any footnoted profits are also considered to calculate earnings per share.
7. Return to Investors
Both appreciation and dividend yield is considered for the total return to investors in company stock. Any reinvested profits are also taken into account, along with stock losses, recapitalizations, dividends, and business restructurings.
In a nutshell
Fortune 500 companies list is the most renowned collection of best-performing companies with incorporation in the U.S. The magazine panel carefully compiles the list by noting each company’s growth and strategy, including investment returns. The companies ranked in the 68th edition of the Fortune 500 have shown excellent vigor to surpass all barriers to success.
Most of these companies faced the brunt of COVID but continued to thrive despite the hurdles. Most healthcare companies have shown tremendous scaling during and after the pandemic as well. However, the future of these organizations depends on their overall performance during the rough seas as well as calm circumstances.
The Fortune 500 list serves as a benchmark of company success. Understanding the elements that make the top 10 Fortune companies the best can help B2B organisations learn from these industry titans and seize every opportunity.
