Together, the 500 corporations on this year''s list generated $13.8 trillion in
The Fortune 500, in its 70th year, ranks the biggest U.S. companies by revenue. In total, Fortune 500 companies 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 28, 2024), and they employ 31 million people worldwide.
The Fortune Sector Leaders lists highlight the biggest Fortune 1000 companies by annual revenue within each sector. Fortune 1000''s 70 industries are grouped into 19 sector lists. The highest-revenue companies in the top half of each sector are listed and ranked. The number of companies in each list differ and are determined by the total number of companies the respective sectors.
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 includes 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, 2024. Unless otherwise noted, all figures are for the year ended Dec. 31, 2023.
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 2022 profits to 2023 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.
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.
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.
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.
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 2023 of stock owned at the end of 2013, 2018, and 2022. 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.
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. Markets editor Kathleen Smyth used those same sources to check the data for earnings per share. In addition, we used data provided by Refinitiv (an LSEG business) 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.
The corporations on our annual list of the world''s 500 largest companies posted near-flat, but still record-breaking aggregate revenues of $41 trillion in 2023, with a year-over-year increase of 0.1%. Walmart remains No. 1 for the 11th consecutive year, while Amazon reaches a new high and claims the No. 2 spot (up from No. 4 last year). Saudi Aramco falls to No. 4; however, with $121 billion in profits, it was the most profitable company on the list for the third year in a row. For the first time since 2018, the U.S. presence (139 companies) on the Fortune Global 500 surpassed that of Greater China (133 companies). The U.S. companies generated $13.8 trillion in aggregate revenues, a 6% increase from last year.
Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2024. All companies on the list must publish financial data and report part or all of their figures to a government agency. Figures are as reported, and comparisons are with the prior year''s figures as originally reported for that year. Fortune does not restate the prior year''s figures for changes in accounting.
How is this list different from the Fortune 500?The Fortune Global 500 is our annual ranking of the largest 500 corporations worldwide as measured by total revenue, whereas the Fortune 500 is exclusively U.S. corporations.
Revenue figures include consolidated subsidiaries and reported revenues from discontinued operations, but exclude excise taxes. For banks, revenue is the sum of gross interest income and gross noninterest income. For insurance companies, revenue includes premium and annuity income, investment income, realized capital gains or losses, and other income, but excludes deposits.
Profits are shown after taxes, extraordinary credits or charges, cumulative effects of accounting changes, and noncontrolling (minority) interests, but before preferred dividends. Figures in parentheses indicate a loss. Profit declines of more than 100% reflect swings from 2022 profits to 2023 losses. Profits for 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. Revenue and profit figures for non-U.S. companies have been converted to U.S. dollars at the average exchange rate during each company''s fiscal year (ended Dec. 31, 2023, unless otherwise noted).
Assets shown are those at the company''s fiscal year-end. Figures for non-U.S. companies have been converted to U.S. dollars at the exchange rate at each company''s fiscal year-end.
The figure shown is either a fiscal year-end or yearly average number, as published by the company. 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.
This year''s Fortune Global 500 was prepared under the direction of list editor Scott DeCarlo. Financial statements and annual reports were reviewed by accounting specialist Rhona Altschuler and markets editor Kathleen Smyth. The Fortune China team, led by Julia Chu, provided figures for Chinese companies. The data verification process was aided substantially by S&P Global Market Intelligence and Refinitiv.
RALEIGH – North Carolina is home to 13 Fortune 500 company’s headquarters facilities, according to the latest Fortune 500 list, released earlier today.
But the state is also home to dozens of facilities from companies atop the Fortune 500 list, as well, and many more companies that Fortune ranked between 501st and 1,000th.
Lowe’s, which is headquartered in Mooresville and has a new technology campus in Charlotte, is 35th on this year’s list, falling four spots from the prior year. The company recently announced a new job and workforce training program.
Trailing immediately behind at the 36th spot is Bank of America, headquartered in Charlotte. The financial company dropped seven spots from last year.
Nucor, headquartered in Charlotte, is now a Fortune 100 company, following a rise of 51 spots. The company is now ranked 98th. It is investing $310 million in a new rebar manufacturing facility in Davidson County.
Three other Charlotte-headquartered companies are ranked among the top 155 by Fortune, though each have fallen more than 10 spots since last year.
Honeywell International is now ranked 105th after falling 11 spots. Duke Energy is ranked 145th, falling 19 spots from last year. And Truist Financial dropped 36 spots and is now 155th.
“The real winners will be the companies that not only thrived under the freakish circumstances of COVID, but can flourish once the world opens back up,” a forward to the June/July 2022 issue of FORTUNE written by Editor-in-Chief Alyson Shontell notes.
127 NC companies crack Inc. 5000 list of fastest-growing companies – here’s a look
Here’s how the 13 Fortune 500 companies with headquarters in North Carolina ranked:
At the top of the Fortune 500, not much has changed in 2022 compared to 2021. The top five companies remain Walmart, Amazon, Apple, CVS Health, and UnitedHealth Group.
Apple is opening an east coast hub in the Triangle. Amazon continues to expand in North Carolina, including a recent hiring push. And Walmart maintains a corporate office in North Carolina and announced plans to hire some 50,000 workers recently. UnitedHealth is hiring nearly 160 positions in North Carolina, according to its careers website.
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