Fortune released its annual Fortune 500 list, ranking the largest companies in America by revenue. The list included a cryptocurrency company for the first time and saw several newcomers from the previous year.
Cryptocurrency Earns Its Place: For the first time ever, a cryptocurrency company landed on the Fortune 500 List. Publicly traded Coinbase Global COIN ranked 437th on the list with revenue of $7.8 billion in 2021.
A company needed to have 2021 revenue of $6.4 billion to enter the list, a mark that was up 19% from the previous year’s list.
Declining revenue on a year-over-year basis for Coinbase in recent quarters could see the company miss out on appearing on next year’s list.
The Top Ten: For the tenth year in a row, retailer Walmart Inc WMT topped the Fortune 500 list.
Here is a look at the top 10 companies in the U.S. with the highest revenue:
- Walmart Inc WMT
- Amazon.com Inc AMZN
- Apple Inc AAPL
- CVS Health CVS
- UnitedHealth Group UNH
- Exxon Mobil XOM
- Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B)
- Alphabet Inc GOOGGOOGL
- McKesson Corp MCK
- AmerisourceBergen ABC
The top five on the list remained the same from last year.
Apple ranked third on the list for revenue and was the most profitable company in the U.S. for the seventh time in the past eight years.
Consecutive Appearances: Over the last 68 years, a total of 49 companies have appeared in every version of the Fortune 500 annual list.
The highest ranked of the 49 companies that have appeared on every list for 2021 were Exxon Mobil and Chevron CVX ranking sixth and sixteenth respectively.
General Motors Company GM, Johnson and Johnson JNJ, Archer-Daniels Midland ADM, Pfizer Corp PFE, PepsiCo PEP, Procter & Gamble PG, General Electric GE and International Business Machines IBM all ranked in the top 50 companies by revenue and have appeared on every list.
Rockwell Automation ROK ranked 472nd of the companies to appear on every list, falling closest to missing out on its consecutive streak.
Related Link: Coinbase Q4 Earnings Highlights: Big Revenue Beat, Total Retail Trading Volume Of $17.7B
New In 2022: Several companies rejoined the top 500 companies or appeared on the list for the first time, including Coinbase. A total of 30 companies appeared in the 2022 list after missing out in 2021.
The highest of these 30 companies was Cleveland-Cliffs CLF, which ranked 171st with $20.4 billion in revenue, up 282% from the previous year. The company gained 330 spots on the list.
Moderna Inc MRNA ranked 195th on the list with $18.5 billion in revenue. The pharmaceutical company that was not in the top 1000 companies in 2020 posted a 2,199% gain in 2021 revenue.
Other Figures: The Fortune 500 companies made up two-thirds of the 2021 U.S. GDP with over $16 trillion in revenue, up 17% from the prior year.
The 500 companies on the list had profits of $1.84 trillion in 2021, up 114% from the previous year.
Forty-four companies on the Fortune 500 list for 2022 have women CEOs, marking a record high for the list.
The 500 companies are valued at $37 trillion as publicly traded companies.
A total of 37 states are represented based on the headquarters of the 500 companies, with Texas, home to 53 of the companies, ranking first. Texas passed New York (51), which had topped the list the last seven years.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
