Amazon Claims No. 1 Spot on the Fortune 500

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June 3, 2026 6:00 AM EDT

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Amazon overtakes Walmart as America's largest company by revenue

The Top 5 companies on the 72^nd annual Fortune 500 list include Amazon, Walmart, UnitedHealth Group, Apple, and Alphabet

Women lead 11% of Fortune 500 companies, with 55 female CEOs

NEW YORK, June 3, 2026 /PRNewswire/ -- Today, Fortune announced the Fortune 500 ™ ranking for 2026, the 72nd year of the iconic annual list of the largest corporations in the United States, ranked by revenue for the 2025 fiscal year.

Amazon has dethroned Walmart as No. 1 on the Fortune 500, 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, marking a stunning rise for a company that debuted at No. 492 just over two decades ago.

While Walmart fell to No. 2 for the first time since 2012, Alphabet moved up two spots to No. 5 on the Fortune 500 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. UnitedHealth Group repeated at the No. 3 spot on the Fortune 500, the biggest health care company on the list. The top ten Fortune 500 companies each generated more than $320 billion in annual revenue and combined for a total of $4.5 trillion.

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.

THE TOP TEN COMPANIES ON THE 2026 FORTUNE 500 LIST ARE:

Amazon
Walmart
UnitedHealth Group
Apple
Alphabet
CVS Health
Berkshire Hathaway
McKesson
Exxon Mobil
Cencora

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.

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. California (56 companies) and New York (53 companies) follow close behind, but 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).

The complete list is online here along with the methodology, and in print on newsstands on June 16.

Describing the 2026 Fortune 500 list, Executive Editor Matt Heimer notes, "In 72 years, only four companies have ever claimed that No. 1 spot. And you can't succeed at that kind of scale without persuading millions of people to trust you. From Amazon's historic rise to the battles for customer loyalty at Microsoft, Boeing, and American Express, the companies featured in this issue share a common thread: They understand that size means nothing without that trust."

The June/July issue of Fortune magazine contains other must-read features, including these:

The 2026 100 Most Powerful Women in Business List
How Kelly Ortberg is rebuilding Boeing from the inside out by Shawn Tully
An AI overhaul at Macy's is fueling the 168-year-old retailer's turnaround by Phil Wahba
Intel's new CEO cut management layers in half. The stock is up nearly 500% by Jeff John Roberts
Inside Anduril: Meet the quiet engineer-CEO building America's $31 billion weapons startup by Allie Garfinkle
Microsoft lost its way in the AI race. Can Copilot get it back on course? by Jeremy Kahn
The American Express CEO defied haters who said he'd never have the top job—winning with millennials and Gen Z and trouncing the competition by Shawn Tully
A top Blackstone executive is becoming an unlikely LinkedIn star thanks to his running videos by Rachel Ventresca

Fortune will host the Fortune 500 Innovation Forum in Detroit from Nov. 16–17, bringing together Fortune 500 leaders and startups to explore the future of innovation. Held during America's Semiquincentennial anniversary, the forum will convene business leaders shaping the next era of growth. For more information, please click here.

About Fortune:

Fortune is the premier global media company for global business leaders, built on a 96-year-old legacy of trusted, award-winning journalism. Independently owned, Fortune tells the story of business, spanning legacy companies to the world's new generation of innovators. Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World's Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum, Fortune Brainstorm Tech, and Fortune Most Powerful Women. For more information, visit fortune.com.