SM Energy

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

Fortune 500

Energy sector dominated this year for the first time since 2008, with 28 companies featured on the list.

100 Fastest-Growing Companies

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

This year’s Fortune 500 marks the 68th running of the list.

This year's Fortune 500 marks the 65th running of the list.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

Fastest-growing Companies

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Get insights into SM Energy including business profile, stock information, news, and rankings from Fortune.

SM Energy (SM): Company Profile, Stock Price, News, Rankings

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SM Energy | Fortune

SM Energy (SM): Company Profile, Stock Price, News, Rankings | Fortune

Brian Moynihan, CEO of Bank of America, joins Leadership Next to reflect on his journey from law to banking—and how that unexpected pivot brought him to the head job at one of the world’s largest financial institutions. He shares his leadership philosophy, emphasizing the power of staying calm in a crisis and the importance of giving energy to his team, not taking it away.
Moynihan discusses Bank of America's strategic shift from aggressive acquisitions to organic growth, fueled by major investments in technology—like the AI assistant Erica. He explains why Erica is evolving from “third-grade Einstein” to near-genius capabilities.
He also shares his perspective on responsible capitalism, the importance of expanding opportunities for underserved communities, and how he's preparing the bank for its next generation of leaders.
Tune in to hear Moynihan's take on what it means to wear responsibility like a “comfortable sweater”—and how corporate leaders can help combat hate and promote dignity in today’s world.

Brian Moynihan on Leading Bank of America With Calm, Purpose, and AI

Photo Courtesy of Brian Moynihan; Graphics by Fortune

Leadership

How the CEO of Bank of America balances innovation, inclusion, and long-term vision to prove capitalism can work at scale.

COOs require actionable strategies for prioritizing today's unique operational challenges, from shifting trade policies, to recession indicators, and the potential fallout of lagging consumer sentiment and spending. Through data-driven insights, real-world case studies, and practical frameworks, this session will tackle best practices for how operations leaders can address cost structures, prioritize talent development, and leverage AI capabilities to build sustainable and resilient competitive advantages during volatile times.

LEADING THROUGH VOLATILITY: WHERE SHOULD COOs FOCUS THEIR ENERGY AND TIME?

Conferences

Fortune sits down with Keurig Dr Pepper CEO Tim Cofer to explore how the $15B beverage giant is outpacing rivals like Pepsi. Cofer breaks down the company’s bold strategy—expanding in energy drinks, innovating in coffee with plastic-free K-Rounds, and navigating inflation and tariffs. Here's how KDP is rewriting the rules of the beverage business under its new leadership.

How Keurig Dr Pepper's $15B Empire Beat Out Pepsi

Features

Fortune sits down with Keurig Dr Pepper CEO Tim Cofer to explore how the $15B beverage giant is outpacing rivals like Pepsi. 

You may not know it, but all the drinks here are owned by just one company, Keurig Dr. Pepper. We have a dawn to dusk portfolio that literally covers every demand space and every need that a consumer has in terms of beverages. KDP generated $15 billion in revenue last year. We put the consumer at the center of everything we do here at Keurig Dr Pepper with both legacy brands. Like Green Mountain and newer brands like Ghost Energy, they've invested a lot to keep up. What up y'all? I got my hands on the new Dr. Pepper BlackBerry. Let's try this. Having that relationship with the consumer, understanding what's important in their lives, understanding the cultural moments that really define that younger generation, Gen Z. and then tapping into it in a very authentic one of a kind way. Smash or pass. Classic Dr. Peppermash. And though Dr. Pepper just overtook Pepsi as the 2nd best selling soft drink in North America, their coffee business is cooling off. Can Keurig Dr. Pepper re up another wave of growth. Yeah, this is one that I really like, although I always get the bottles. The big news is that Dr. Pepper has just gone to #2 among all soft drinks. The milestone that you just referenced is one that's been really years in the making. I think it's a combination of many factors. I point to innovation. I'd point to marketing and sales excellence. This is a brand unique, one of a kind, oldest soda brand in America since 1885, but a really unique personality. In 1885, 1 year before the birth of Coca-Cola, a pharmacist in Waco, Texas famously mixed 23 soda fountain syrups in an experiment to recreate the drugstore's aroma. The blend became Dr. Pepper. Fast forward 140 years, the soda is one of the most popular in North America, and in 2018, Keurig Green Mountain and Dr. Pepper Snapple Group merged in a nearly $19 billion deal to form Keurig Dr. Pepper. All right, here's some cold beverage. Let's look at some of these. Today the Beverage Powerhouse has over 125 hot and cold drink brands, and in recent years, Dr. Pepper has seen a surge in popularity. Y'all, we can make us a dirty soda. Let's make a dirty soda just like the Mormons do. Dirty soda. It's been a thing in Utah for years where people started spiking soda with everything from cream to flavored syrup. Delish. All right, that's it. Goodbye. You have appealed to a much younger audience here. Was that an intentional strategy? How did that happen? We put the consumer at the center of everything we do here at Keurig Dr. Pepper, having that relationship with the consumer, understanding what's important in their lives. Understanding the cultural moment really defining that younger generation Gen Zennials, that was kind of the impetus of us picking up on this dirty soda trend and that allowed us to drive that great new innovation really winning marketing across the patch. Here's our ghost lineup C4, that performance brand, fitness brand, Bloom, a more female forward brand started by a young lady and then Black Rifle veteran focused. The energy drink market has exploded in recent years, fueled by a younger demographic, wellness trends, and a demand for functional beverages once dominated by. Red Bull and Monster, the category is seeing new players. Cur Dr. Pepper, historically absent from the core energy segment, is now making strategic moves to catch up. What we saw a few years ago is an opportunity to continue to shape our portfolio in a way that would be more growth accretive. We love our position in carbonated soft drinks. We knew there were other verticals like energy, like sports hydration, where we had an opportunity to participate more meaningfully. And so energy is our is our latest big bet. 3 years ago we were nonexistent in energy. Today we have over a 6 market share, and I have an ambition to be a double digit market share player here in a couple of years. One of Keurig Dr. Pepper's competitive advantages is DSD, its direct store delivery network. While many beverage companies rely on third party distributors, KDP owns and operates a vast logistics system that delivers products directly to retail shelves. In the beverage industry, DSD direct store delivery, is a scarce asset and it's a critical asset because the consumer is looking for that beverage wherever she shops and needs it right then and ideally needs it cold, right? So DSD direct store delivery is a big source of competitive advantage and it's one of the reasons why we attract so many partners, partners who might not have that critical distribution. One of the highly unusual things about the company was the combination of hot and cold. What power did you see in that combination? You know, I'd start once again at a consumer level. We have a dawn to dusk portfolio that literally covers every demand space and every need that a consumer has in terms of beverages. This is one of our newest brewers in terms of the intersection of hot and cold. This is called the K Brew and Chill. This is the first brewer that actually makes cold coffee to the touch. As COVID began, KDP used data from home coffee makers to foresee a spike in demand after a sudden shift to the stay at home economy. The then CEO ramped production and secured big shipments of cans well before rivals saw the way of building, but as more Americans returned to offices and cafes, demand for at-home coffee began to soften. We love our coffee business. We have over a $4 billion coffee business, and coffee remains today a ubiquitous category. In fact, coffee is second only to water as the most consumed beverage today. Indeed, to your point, however, of late, you've seen coffee under pressure, and so we're really playing the long game on coffee. Coffee will come back and when it does, we're going to be really well positioned to capitalize it, including a revolutionary new system that we'll be launching here in the next year or so. So this is KA Sean, the new system. This is obviously a prototype we're actually just went into beta testing in consumer homes. No plastic, no aluminum, 100% coffee you can. I mean, smell that. That's just nothing but coffee. With a plant-based coating. We're disrupting ourselves with a sustainable option that is plastic-free, aluminum free K rounds. As the beverage landscape evolves, Keurig Dr. Pepper is betting that a diversified portfolio and a powerful distribution engine will keep it competitive even as consumer tastes continue to shift. Give that a try. So it's your favorite ginger ale with a real splash of cherry juice. It's terrific.

As energy security and supply chain resilience dominate global priorities, a new axis of investment and infrastructure is emerging across ASEAN, the Gulf, and China.
From undersea cables to hydrogen ports, and from integrated maritime corridors to electrified freight, the region is laying down the hardware of the 21st-century economy.
How are capital, sustainability, and scale being aligned across borders?
What models of cross-regional cooperation are working—and which need a rethink?
How are Gulf entities positioning themselves not just as investors, but as long-term operators in Asia’s most critical corridors?
And what role will net-zero commitments, digitalization, and geopolitical realignment play in shaping the next phase of energy and logistics growth?

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