Fortune released its 70th annual ranking of the largest U.S. companies on Tuesday. The Fortune 500 list is made up of 500 companies that together 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. Combined, the firms employ 31 million people around the world.
These are the top 10 companies on this year’s Fortune 500 list, ranked by total revenues during the last fiscal year.
The Bentonville, Arkansas-headquartered retailer topped Fortune’s list once again, with $648 billion in revenue and $15.5 billion in profit. Walmart’s net earnings climbed almost 33% year-over-year.
E-commerce giant Amazon held onto its No. 2 spot, bringing in $575 billion in revenue last year — an almost 12% increase from a year prior. The Seattle-based firm netted $30.4 billion in profit last year.
Despite both its revenue and profit each declining by 2.8% last year, Cupertino, California-based Apple moved up one spot to come in third in Fortune’s rankings. The tech giant raked in $383 billion in revenue and $97 billion in profit for the 2023 fiscal year.
UnitedHealth Group, the Minnetonka, Minnesota-headquarted health insurance provider, also inched up one spot to fourth place. It had revenue of $372 billion with $22 billion billion in profit, both double-digit increases from a year prior.
Warren Buffett’s Berkshire Hathaway rounded out the Fortune 500's top 5, up two positions from last year. The sprawling, Omaha, Nebraska-based conglomerate saw $364 billion in revenue — a 21% year-over-year increase — and $96 billion in profit.
Woonsocket, Rhode Island-based pharmacy retailer CVS held on to its No. 6 spot, with $358 billion in revenue and $8 billion in net income — both up about 10% from the year before.
Oil giant Exxon Mobil fell four positions to No. 7 in the latest Fortune ranking. The Houston-based firm’s revenues dropped 17% to $345 billion, and its profits sunk 35% to $36 billion.
Google parent Alphabet made $307 billion in revenue and $74 billion in profit last year, securing the Mountain View, California-based tech giant’s No. 8 spot on the list once again.
Irving, Texas-headquartered drug distributor McKesson clinched the No. 9 spot on the list with $277 billion revenue $3.56 billion in profit — a 220% surge from a year prior.
Cencora, a Conshohocken, Pennsylvania-based wholesale retailer (previously known as Amerisource Bergen), climbed one position to get the No. 10 spot. It brought in $262 billion in revenue and $1.75 billion in profit during the last fiscal year.
