Amazon takes over Fortune 500 listing's No. 1 spot; 57 of the corporations call Texas home
NEW YORK – Today, Fortune announced the Fortune 500™ ranking for 2026, the 72nd year of the annual listing of the United States’ largest corporations as ranked by revenue for the 2025 fiscal year.
Notably, Amazon took over the No. 1 spot from Walmart, ending the retailer’s 13-year reign atop the list. The e-commerce and cloud giant surpassed $700 billion in revenue in 2025 with a 12% year-over-year jump. Amazon debuted at No. 492 just over two decades ago.
UnitedHealth Group repeated at the No. 3 spot on the Fortune 500, the biggest health care company on the list. Apple followed at No. 4, while Alphabet moved up two spots to No. 5 and repeated as “most profitable company,” eclipsing the $100 billion profit mark for the second year in a row. The company’s $132 billion earnings figure is a record for a Fortune 500 company.
The remaining top 10 were:
• CVS Health
• Berkshire Hathaway
• McKesson
• Exxon Mobil
• Cencora
The top ten Fortune 500 companies each generated more than $320 billion in annual revenue and combined for a total of $4.5 trillion.
This year’s Fortune 500 companies are headquartered in 229 cities across 39 states. Texas leads all states with 57 companies and the most combined revenue at $2.8 trillion, followed by California (56 companies) and New York (53 companies).
California dominates on nearly every other measure: its Fortune 500 companies are the most profitable ($647 billion), most valuable ($20 trillion), and employ more people than any other state (2.8 million workers).
At the city level, New York City tops the list with 43 companies, followed by Houston (25), Chicago (14), Atlanta (13), and Dallas (11).
In a statement, Texas Gov. Greg Abbott said: “Texas is the undisputed headquarters of headquarters. The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”
In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $21.0 trillion (up 5%) in revenues, $2.1 trillion (up 12%) in profits, and $55 trillion (up 19%) in market value, while employing 30.5 million people worldwide. The revenue threshold for making the Fortune 500 list was $7.5 billion this year, up 5% from a year ago.
Financial companies led all sectors with 95 companies (up two from last year), and together the companies generated $4.1 trillion in revenue (up 7%) and earned more than $474 billion (up 3%) in profits last year. The healthcare sector generated a combined $3.6 trillion in revenue and accounted for eight companies in the top 25 ranked Fortune 500 companies. Twelve companies made their debut on the Fortune 500 this year, including Galaxy Digital (No. 76), Medline (No. 159), Amentum Holdings (No. 313), Venture Global (No. 328), and Arista Networks (No. 444). Carvana (No. 220) made the biggest leap on this year’s Fortune 500, moving up 94 spots from last year with 49% growth in revenue.
Nvidia (No. 16) became the first $4 trillion dollar Fortune 500 company and moved past Apple to claim the most valuable company title. It debuted on the list at No. 387 in 2017.
Fifty-five Fortune 500 companies are led by women in 2026, representing 11% of the list. Among them are some of the most recognized names in the business, including Fortune’s Most Powerful Woman, Jane Fraser of Citigroup (No. 24); Mary Barra of General Motors (No. 23), Carol Tomé of UPS (No. 48), Tricia Griffith of Progressive (No. 51); Phebe Novakovic of General Dynamics (No. 91), Thasunda Brown Duckett of TIAA (No. 94); and Sarah London of Centene (No. 19). Elevance Health (No. 18) is the highest ranked Fortune 500 company run by a female CEO; Gail Boudreaux has been its leader since 2017.
The complete list is online here along with the methodology, and in print on newsstands on June 16.
