Fortune released its annual list of the 500 largest companies in the U.S., revealing the continued success of many big names along with a few changes.
- The 69th annual Fortune 500 list, which ranks the 500 largest companies in the U.S. by revenue, revealed that Walmart still tops the list.
- While companies like Walmart have remained at the top of the list for over a decade, this year’s list shows that oil companies are rising again after a brief dip.
- Healthcare companies are also rising, urged on by growing demand for pharmaceuticals and healthcare needs, Fortune reports.
- The report also found that companies on the list are increasingly located in Texas and leaving California and New York.
Why it’s news
Though there is some debate about the most effective way to rank U.S.-based companies, the Fortune 500 list remains one of the most iconic ranking lists for major corporations. Making it on the list is a badge of honor for nearly any business.
This year’s rankings show which companies are still on top and give a glimpse into the changing economic climate. Oil companies rising back to the top of the list after a decline shows how European energy problems bolstered oil revenue. ExxonMobil moved to number three after reaching six on the list last year. Chevron jumped from 16 to ten.
Healthcare systems rising in prominence also reflects a growing focus on the healthcare industry—particularly pharmaceuticals. UnitedHealth and CVS were numbers five and six on the list, respectively. Drug distributors like McKesson and AmerisourceBergen were also high on the list. Amazon, Walmart, and Apple— though not healthcare companies—have been making strides in healthcare and also performed well this year.
The states these companies call home also reflect changing demographic trends. The U.S. population is starting to head South, a relatively new trend, and Fortune 500 companies are increasingly located in Texas. Of the 500 companies, 55 were in Texas, 53 in California, and 50 in New York.
Here are the top 10 of the Fortune 500:
- UnitedHealth Group
- CVS Health
- Berkshire Hathaway