Walmart, Amazon, and UnitedHealth Group round out the top three on the 71st annual Fortune 500 list .
Women now lead 11% of Fortune 500 companies, with 55 female CEOs — a record high for the list
Today, Fortune announced the Fortune 500™ ranking for 2025, the 71st year of the iconic annual list of the largest corporations in the United States, ranked by revenue for the 2024 fiscal year.
Walmart earned the top spot on the Fortune 500 list for the 13th straight year, generating more than $7 trillion in cumulative revenue over that time period, followed by Amazon, UnitedHealth Group, Apple, and CVS Health. The top 10 Fortune 500 companies generated over $290 billion in annual revenue, totaling $4.2 trillion.
In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $19.9 trillion (up 6%) in revenues, $1.87 trillion (up 9%) in profits, $46 trillion (up 7%) in market value, and employ 31 million people worldwide. The revenue threshold for making the 2025 Fortune 500 list was $7.4 billion this year, up 4% from a year ago.
THE TOP TEN COMPANIES ON THE 2025 FORTUNE 500 LIST ARE:
- Walmart
- Amazon
- UnitedHealth Group
- Apple
- CVS Health
- Berkshire Hathaway
- Alphabet
- Exxon Mobil
- McKesson
- Cencora
Retailers, utilities, and insurance companies led all industries with the most Fortune 500 companies on the list. The healthcare sector, generating a combined $3 trillion in revenue, accounted for eight companies in the top 25 ranked Fortune 500 companies. Thirty years ago, in 1995, the top 25 included no healthcare companies. Fourteen companies made their debut this year, including GE Vernova (No. 130), Ferguson Enterprises (No. 146), Kenvue (No. 281), and Palo Alto Networks (No. 470).
The representation of female CEOs hit a new milestone this year, with 55 women leading Fortune 500 companies—the highest share in the list’s history at 11%. Notable leaders include Mary Barra of General Motors (No. 18), who also topped Fortune’s 100 Most Powerful Women list this year; Jane Fraser of Citigroup (No. 21); Carol Tomé of UPS (No. 47); Thasunda Brown Duckett of TIAA (No. 98); and Corie Barry of Best Buy (No. 108).
The companies on this year’s list are based in 225 cities across 37 states. New York City, with 43 companies, is the top municipality, followed by Houston (24), Chicago (15), Atlanta (13), and Dallas (9). California added one new Fortune 500 company this year, maintaining its lead with a total of 58—the highest of any state for the second consecutive year. Texas is second with 54 companies, followed by New York (53).
The complete list is online here, along with the methodology, and in print on newsstands on June 17.
“We are focused at Fortune on being the authority on the companies that make up the Fortune 500, how the list itself is vital to navigating a global economy, and on how the stories that come from it help explain the times we are living in,” said Anastasia Nyrkovskaya, Fortune CEO. “The Fortune 500 is a literal roadmap to the rise and fall of markets, a reliable playbook of the world’s most important regions, services, and products, and an indispensable roster of those companies’ dynamic leaders. It’s core to our mission at Fortune and we are laser-focused on tracking it.”
In her foreword to the June/July 2025 issue of Fortune, Alyson Shontell, Fortune Editor in Chief and Chief Content Officer, noted “Across the board, American business performance was off the charts last year: 2024 was the most profitable year on record for the Fortune 500, which posted a collective $1.87 trillion in earnings. But plenty of business leaders still understand that stakeholder capitalism is the smartest long-term financial strategy and that reinvesting profits in your employees and customers can build a better legacy for your company.”
The June/July issue of Fortune magazine contains other must-read features, including these:
- Bill Gates on his biggest bet ever: a $200 billion crusade for public health, by Geoff Colvin
- The 100 Most Powerful Women in Business
- Inside the 500’s most profitable year ever, by Nicolas Rapp and Matt Heimer
- IBM: How AI brought back “Big Blue,” by Sharon Goldman
- How serious is SiriusXM?, by Emma Hinchliffe
- How sick is UnitedHealth? How a wave of bad news wiped $280 billion off the insurer’s stock value, by Geoff Colvin
