The ten largest U.S. companies by annual revenue, based on the most recent Fortune 500 ranking.
Quick answer: 1. Walmart, 2. Amazon, 3. Apple, 4. UnitedHealth Group, 5. Berkshire Hathaway, 6. CVS Health, 7. ExxonMobil, 8. Ford Motor Company, 9. General Motors, 10. McKesson.
The Fortune 500 is the definitive annual ranking of the largest U.S. companies by revenue, measuring the size of America's corporate giants. The 2025 edition reflects a year in which the largest U.S. companies collectively generated over $18 trillion in revenue, with the top ten alone accounting for nearly $4 trillion. This list is dominated by retailers, energy companies, automakers, and a single technology giant — a very different mix from the global profitability rankings, which are led by tech companies. Revenue measures the raw flow of money through a business, and in that metric, retailers and commodity producers naturally lead because they move huge volumes of goods and energy.
Walmart has been the largest U.S. company by revenue for over a decade, reporting $648 billion in the 2025 Fortune 500. The retail giant operates over 10,500 stores worldwide, including approximately 4,600 Walmart stores and 600 Sam's Club locations in the U.S., and employs roughly 2.1 million people globally.
Amazon reported $637 billion in revenue, placing it second on the Fortune 500. While the company is best known for its e-commerce marketplace, the majority of its profits come from Amazon Web Services (AWS), which dominates the cloud-computing market.
Apple reported $391 billion in revenue, ranking third on the Fortune 500. Despite this, Apple is the most profitable company in the world with a net income of $93.7 billion, reflecting its industry-leading profit margins on hardware and a growing high-margin Services business.
UnitedHealth Group reported $371 billion in revenue, ranking fourth. The health insurance and healthcare services giant operates through two platforms: UnitedHealthcare (insurance) and Optum (health services, pharmacy benefits, and data analytics). It is the largest health insurance company in the U.S. by revenue.
Warren Buffett's conglomerate reported $369 billion in revenue, ranking fifth. Berkshire's revenue comes from a diverse portfolio of wholly owned subsidiaries including BNSF Railway, GEICO, Berkshire Hathaway Energy, Precision Castparts, and a large portfolio of stocks in other companies.
CVS Health reported $352 billion in revenue, ranking sixth. The healthcare conglomerate combines a national pharmacy chain (CVS Pharmacy), the Aetna health insurance business, and the CVS Caremark pharmacy benefit manager (PBM), making it one of the largest integrated healthcare companies in the U.S.
ExxonMobil reported $345 billion in revenue, ranking seventh. The oil and gas supermajor is the largest energy company in the U.S. and one of the largest publicly traded oil companies in the world, with operations spanning upstream exploration, midstream pipelines, and downstream refining and chemicals.
Ford reported $175 billion in revenue, ranking eighth. The legacy automaker has been investing heavily in electric vehicles, though it continues to generate the majority of its revenue from its iconic F-Series pickup trucks and internal-combustion-engine SUVs. Ford is the second-largest U.S. automaker behind General Motors.
General Motors reported $172 billion in revenue, ranking ninth. GM is the largest U.S. automaker by revenue and has been accelerating its transition to electric vehicles through its Ultium battery platform, while still generating the bulk of its sales from gasoline-powered trucks and SUVs.
McKesson reported $171 billion in revenue, rounding out the top ten. The company is the largest pharmaceutical distributor in the U.S., handling the distribution of drugs and medical supplies to pharmacies, hospitals, and healthcare providers nationwide. McKesson has been a perennially high-revenue company due to the sheer volume of pharmaceuticals it moves.
| # | Name | HQ | Industry | Employees | Fortune 500 rank 2025 | Founded |
|---|---|---|---|---|---|---|
| 1 | Walmart | Bentonville, Arkansas | Retail | 2100000 | 1 | 1962 |
| 2 | Amazon | Seattle, Washington | Technology / E-commerce, Cloud computing | 1525000 | 2 | 1994 |
| 3 | Apple | Cupertino, California | Technology / Consumer electronics, Software | 164000 | 3 | 1976 |
| 4 | UnitedHealth Group | Minnetonka, Minnesota | Healthcare / Insurance, Health services | 440000 | 4 | 1977 |
| 5 | Berkshire Hathaway | Omaha, Nebraska | Conglomerate / Insurance, Investments, Rail, Energy | 396000 | 5 | 1839 (as textile mill); 1965 (Buffett acquisition) |
| 6 | CVS Health | Woonsocket, Rhode Island | Healthcare / Pharmacy, Insurance, PBM | 259000 | 6 | 1963 |
| 7 | ExxonMobil | Spring, Texas | Oil and gas | 62000 | 7 | 1999 (merger) |
| 8 | Ford Motor Company | Dearborn, Michigan | Automotive | 173000 | 8 | 1903 |
| 9 | General Motors | Detroit, Michigan | Automotive | 163000 | 9 | 1908 |
| 10 | McKesson | Irving, Texas | Healthcare / Pharmaceutical distribution | 52000 | 10 | 1833 |
Companies are ranked by total annual revenue for their most recent fiscal year, as reported in the 2025 Fortune 500 list (published June 2025, based on fiscal year 2024 results). Revenue figures are in U.S. dollars and represent consolidated total revenue including all subsidiaries. Only U.S.-incorporated companies are included. The Fortune 500 uses fiscal-year-end data reported by companies in their SEC filings. Rank 1 is the highest revenue.
Walmart is the largest company in the United States by revenue, with $648 billion in the 2025 Fortune 500 ranking. It has held the top spot for over a decade, and its revenue is roughly equivalent to the GDP of countries like Switzerland or Turkey.
Walmart is a low-margin, high-volume retailer — it sells massive quantities of goods at thin margins (typically 2–3% net profit margin). Apple, by contrast, sells premium products with much higher margins (around 25% net profit margin). So Apple generates $391 billion in revenue but $93.7 billion in profit, while Walmart generates $648 billion in revenue but only about $16 billion in profit.
The U.S. healthcare system is the most expensive in the world, and the companies that move money through it — insurers (UnitedHealth), pharmacy giants (CVS Health), and pharmaceutical distributors (McKesson) — process enormous volumes of dollars. The top 10 includes three healthcare-related companies: UnitedHealth Group, CVS Health, and McKesson.
The Fortune 500 ranks only U.S.-incorporated companies, while the Fortune Global 500 ranks the largest companies worldwide regardless of country of incorporation. In the Global 500, Walmart is the largest, followed by Chinese state-owned energy companies like State Grid and Sinopec — companies that don't appear on the U.S.-only Fortune 500.