Fortune 500

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Ever wonder how many Fortune 500 companies are in your state? Or which gained the most or fell the farthest year over year? Here's a deeper look at the Fortune 500 by sector, geographic location, and more.

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The Fortune 500, in its 72nd year, ranks the biggest U.S. companies by revenue. And this year, for the first time in more than a decade, it has a new No. 1, as Amazon ends Walmart’s 13-year winning streak. Together, the companies on the list combined for $21.0 trillion in revenue and $2.1 trillion in profits last year, while employing 30.5 million people worldwide.&nbsp; Read more about the 2026 list at the links below.

Amazon, which debuted on the Fortune 500 in 2002, snared the top spot on the strength of 12% year-over-year revenue growth. It also posted record profits as its juggernaut AWS cloud-services business expanded its margins.

Amazon

Walmart fell to No. 2 after 13 years at No. 1. Doug McMillon, the CEO who presided over most of that streak, retired in January. But the giant retailer's earnings hit an all-time high last year, and its share price has soared as well.

Walmart

Nvidia jumped 15 spots to No. 16 as the AI tsunami helped it surge past the $200 billion mark in annual revenue. Nvidia's GPU chips continue to dominate the market for the computing power that drives AI training and inference.

Nvidia

Chevron slipped to No. 21 owing to low oil prices in 2025. But its shares and earnings have climbed this year as the Iran conflict sent those same prices skyrocketing. Chevron's 2025 acquisition of Hess is also beginning to add to its top line.

Chevron

Eli Lilly, the Indiana-based pharma company, is celebrating its 150th anniversary in grand style: Its revenues have tripled since 2018, to $65.2 billion last year. It owes its surge to Mounjaro (for diabetes) and Zepbound (for weight management), which together command about 60% of the manically growing U.S. market for GLP-1 drugs.

Eli Lilly

GPU-makers like Nvidia aren't the only chip winners in the AI boom. Wider corporate use of the technology has ignited demand for conventional memory chips. Boise-based Micron has reaped the benefits — its revenue jumped 49% last year to $37.4 billion.

Micron Technology

This company epitomizes Hollywood's fast-shifting corporate landscape. It was formed last August when Skydance, founded by David Ellison, merged with Paramount, owner of CBS and movie IP like the Mission: Impossible franchise. It will morph further this year as it completes the acquisition of rival Warner Bros. Discovery.

Paramount Skydance

During the COVID pandemic, this used-car seller thrived as supply-chain problems made new cars hard to find; today business is booming as inflation makes new cars hard to afford. Carvana sold nearly 600,000 cars in 2025 at healthy profit margins, and its revenue rose 49%, helping it leap ahead 94 spots on the Fortune 500.

Carvana

The Pittsburgh-based retailer increased its revenues and its risks in 2025 by acquiring Foot Locker, the struggling sneaker seller. The $2.5 billion deal made Dick's one of the top distributors of brands like Nike and Adidas; efforts to turn around Foot Locker's underperforming stores have shown some promising signs this year.

Dick's Sporting Goods

Every tech revolution seems to give this 175-year-old manufacturer another boost. Corning made the glass for Thomas Edison's light bulbs and created crack-resistant Gorilla Glass screens for smartphones. Today demand from AI data centers is fueling its fiber-optic cable business: Corning's revenue jumped 19% last year, to $15.6 billion.

Corning

UnitedHealth Group

Apple

Alphabet

CVS Health

Berkshire Hathaway

McKesson

Exxon Mobil

Cencora

The Top 10

Combined for $21 trillion in revenue—and $2.1 trillion in profits. Introducing the 2026 Fortune 500, the definitive list of the biggest companies in America.

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

Companies are ranked 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.

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 include 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, 2026. Unless otherwise noted, all figures are for the year ended Dec. 31, 2025.

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 2024 profits to 2025 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 2025 of stock owned at the end of 2015, 2020, and 2024. 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 2024 to 2025 do not include companies that lost money in 2024 or lost money in both 2024 and 2025, 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 and research analyst Aris Stavropoulos. We used data provided by LSEG and S&P Global Market Intelligence to calculate total return and market capitalization. The data verification process was aided substantially by information provided by S&P Global Market Intelligence.

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