The largest companies in the world by revenue are dominated by US retailers, technology groups and health-care companies, together with state-owned Chinese energy and construction groups and the largest oil producers. This list reproduces the top 25 of the Fortune Global 500 2026, published on 28 July 2026 and ranking companies by revenue for fiscal 2025.
Amazon is the new No. 1, with revenue of US$716.9bn, narrowly ahead of Walmart with US$713.2bn. The 500 companies on the full list reported combined revenue of US$43.1 trillion, up 3%, and profits of US$3.4 trillion, and employed 70.2 million people.
Contents
- Composition of the top 25
- Methodology
- The list
- Ranking table
- Changes from the previous year
- Frequently asked questions
- See also
Composition of the top 25
Fourteen of the 25 largest companies are headquartered in the United States, four in mainland China, and one each in Saudi Arabia, Germany, Japan, the United Kingdom, Taiwan, Switzerland and Singapore. Across the full Global 500, the United States has 141 companies and Greater China, which Fortune defines as mainland China, Hong Kong, Macau and Taiwan, has 122.
By sector, the top 25 includes seven oil, gas and commodity companies, five health-care companies (UnitedHealth, McKesson, CVS Health, Cencora and Cigna), four technology and electronics companies (Apple, Alphabet, Microsoft and Hon Hai), and two general merchandisers, Walmart and Costco, alongside Amazon. Fortune reports that finance is the largest sector on the full list by number of companies, with 123, although only one bank, JPMorgan Chase, reaches the top 25.
Methodology
Entries are the first 25 companies of the Fortune Global 500 2026, in Fortune's order. Fortune ranks companies by total revenue for their respective fiscal years ended on or before 31 March 2026 and includes only companies that publish financial data and report part or all of their figures to a government agency.
Revenue includes consolidated subsidiaries and reported revenues from discontinued operations and excludes excise taxes. For banks it is gross interest income plus gross non-interest income; for insurers it includes premium and annuity income, investment income and realised capital gains or losses, excluding deposits. Figures for non-US companies are converted by Fortune to US dollars at the average exchange rate of each company's fiscal year, ended 31 December 2025 unless otherwise noted.
Revenue is a measure of size, not of value or profitability: commodity traders and drug wholesalers rank highly with thin margins, while companies such as Alphabet and Apple combine high revenue with high profit. Employee numbers are worldwide, as published by each company.
The list
1
A
E-commerce, cloud computing and advertising group; No. 1 on the 2026 Global 500
Best for: Retail and cloud services
Amazon is the largest company in the world by revenue in the Fortune Global 500 2026, where Fortune describes it as the new No. 1. Fortune records fiscal 2025 revenue of US$716.9bn, up 12.4%, and net profit of US$77.7bn. The company also replaced Walmart at the top of the US Fortune 500 in June 2026, ending Walmart's 13-year run there. Headquartered in Seattle, Amazon employs 1,576,000 people, the second-largest workforce on the list after Walmart.
- Revenue (latest fiscal year)
- US$716.9bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- 12.4%
- Employees
- 1,576,000
- Headquarters
- Seattle, Washington, US
- Industry (Fortune)
- Internet Services and Retailing
- Fortune Global 500 2026 rank
- 1
2
Bentonville-based retailer; the largest employer on the list
Best for: Retail
Walmart, the Bentonville, Arkansas, retailer, fell to second place in 2026, displaced by Amazon. Fortune records revenue of US$713.2bn, up 4.7%, only about US$3.8bn less than Amazon. With 2,100,000 employees it is the largest employer among the world's 25 largest companies. Its Fortune profile names John R. Furner as chief executive.
- Revenue (latest fiscal year)
- US$713.2bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- 4.7%
- Employees
- 2,100,000
- Headquarters
- Bentonville, Arkansas, US
- Industry (Fortune)
- General Merchandisers
- Chief executive
- John R. Furner
- Fortune Global 500 2026 rank
- 2
- Stock listing (Fortune)
- Listed
3
SG
Chinese state-owned electricity grid operator
Best for: Electric utilities
State Grid Corporation of China is a state-owned electricity grid company and the largest company outside the United States on the Global 500. Fortune flags it as government owned 50% or more. Its fiscal 2025 revenue was US$555.4bn, up 1.3%, and net profit was US$11.1bn. It employs 1,347,273 people, the third-largest workforce in the top 25.
- Revenue (latest fiscal year)
- US$555.4bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 December 2025
- Revenue change (US$)
- 1.3%
- Employees
- 1,347,273
- Headquarters
- Beijing, China
- Industry (Fortune)
- Utilities
- Chief executive
- Zhang Zhigang
- Fortune Global 500 2026 rank
- 3
- Stock listing (Fortune)
- Not listed; government-owned (50%+)
4
UG
US health insurer and health-services group
Best for: Health insurance
UnitedHealth Group is the largest health-care company on the Global 500. Fortune records fiscal 2025 revenue of US$447.6bn, up 11.8%, which lifted it three places to fourth. Net profit was US$12.1bn. The company is headquartered in Eden Prairie, Minnesota, and employs 390,000 people.
- Revenue (latest fiscal year)
- US$447.6bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- 11.8%
- Employees
- 390,000
- Headquarters
- Eden Prairie, Minnesota, US
- Industry (Fortune)
- Health Care: Insurance and Managed Care
- Fortune Global 500 2026 rank
- 4
5
Saudi state-controlled oil and gas producer
Best for: Oil and gas
Saudi Aramco is the national oil company of Saudi Arabia and the only Middle Eastern company in the global top 25. Fortune flags it as government owned 50% or more. Revenue fell 7.2% to US$445.5bn in fiscal 2025, but its net profit of US$92.8bn was the fourth highest in the top 25. Aramco is headquartered in Dhahran and employs 76,664 people.
- Revenue (latest fiscal year)
- US$445.5bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 December 2025
- Revenue change (US$)
- -7.2%
- Employees
- 76,664
- Headquarters
- Dhahran, Saudi Arabia
- Industry (Fortune)
- Mining, Crude-Oil Production
- Chief executive
- Amin H. Nasser
- Fortune Global 500 2026 rank
- 5
- Stock listing (Fortune)
- Listed
6
Cupertino-based maker of iPhone, Mac and related services
Best for: Consumer electronics
Apple designs consumer electronics, software and services. Fortune records fiscal 2025 revenue of US$416.2bn, up 6.4%, and net profit of US$112.0bn, the second highest in the top 25 after Alphabet. The company is headquartered in Cupertino, California, and employs 166,000 people. It rose two places to sixth in 2026.
- Revenue (latest fiscal year)
- US$416.2bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- 6.4%
- Employees
- 166,000
- Headquarters
- Cupertino, California, US
- Industry (Fortune)
- Computers, Office Equipment
- Fortune Global 500 2026 rank
- 6
7
M
US pharmaceutical distributor
Best for: Pharmaceutical distribution
McKesson distributes pharmaceuticals and medical supplies. Its Fortune figures are for the fiscal year ended 31 March 2026. Revenue rose 12.4% to US$403.4bn, while net profit was US$4.8bn, reflecting the low margins of drug wholesaling. McKesson, headquartered in Irving, Texas, has 42,300 employees, one of the smallest workforces in the top 25.
- Revenue (latest fiscal year)
- US$403.4bn (Fortune)
- Fiscal year end
- 31 March 2026
- Revenue change (US$)
- 12.4%
- Employees
- 42,300
- Headquarters
- Irving, Texas, US
- Industry (Fortune)
- Wholesalers: Health Care
- Chief executive
- Brian S. Tyler
- Fortune Global 500 2026 rank
- 7
- Stock listing (Fortune)
- Listed
8
A
Best for: Internet services
Alphabet is the parent company of Google. Fortune records fiscal 2025 revenue of US$402.8bn, up 15.1%, and net profit of US$132.2bn, the highest of any company in the global top 25. Alphabet moved up five places to eighth. It is headquartered in Mountain View, California, and employs 190,820 people.
- Revenue (latest fiscal year)
- US$402.8bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- 15.1%
- Employees
- 190,820
- Headquarters
- Mountain View, California, US
- Industry (Fortune)
- Internet Services and Retailing
- Fortune Global 500 2026 rank
- 8
9
CH
US pharmacy, pharmacy-benefit and health insurance group
Best for: Health care services
CVS Health combines retail pharmacies, pharmacy-benefit management and health insurance. Fortune records fiscal 2025 revenue of US$402.1bn, up 7.9%, and net profit of US$1.8bn. Headquartered in Woonsocket, Rhode Island, it employs 259,500 people. Its revenue was within about US$800m of Alphabet's.
- Revenue (latest fiscal year)
- US$402.1bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- 7.9%
- Employees
- 259,500
- Headquarters
- Woonsocket, Rhode Island, US
- Industry (Fortune)
- Health Care: Pharmacy and Other Services
- Fortune Global 500 2026 rank
- 9
10
CN
Chinese state-owned oil and gas group
Best for: Oil and gas
China National Petroleum Corporation (CNPC) is a state-owned oil and gas producer and refiner; Fortune flags it as government owned 50% or more and notes that excise taxes have been deducted from its revenue. Fiscal 2025 revenue was US$401.9bn, down 2.6%, and the company fell five places to tenth. With 948,579 employees, CNPC has the fourth-largest workforce in the top 25.
- Revenue (latest fiscal year)
- US$401.9bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 December 2025
- Revenue change (US$)
- -2.6%
- Employees
- 948,579
- Headquarters
- Beijing, China
- Industry (Fortune)
- Petroleum Refining
- Chief executive
- Dai Houliang
- Fortune Global 500 2026 rank
- 10
- Stock listing (Fortune)
- Not listed; government-owned (50%+)
11
BH
Omaha-based diversified conglomerate
Best for: Diversified conglomerate
Berkshire Hathaway is a conglomerate with businesses in insurance and a range of other industries. Fortune classifies it under property and casualty insurance and records fiscal 2025 revenue of US$371.4bn and net profit of US$67.0bn. Its Fortune profile names Gregory E. Abel as chief executive. The company is based in Omaha, Nebraska, and employs 387,800 people.
- Revenue (latest fiscal year)
- US$371.4bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Employees
- 387,800
- Headquarters
- Omaha, Nebraska, US
- Industry (Fortune)
- Insurance: Property and Casualty (Stock)
- Chief executive
- Gregory E. Abel
- Fortune Global 500 2026 rank
- 11
- Stock listing (Fortune)
- Listed
12
SG
Chinese state-owned refiner and petrochemicals group
Best for: Oil refining
Sinopec Group is a Chinese state-owned refiner and petrochemical producer. Fortune flags it as government owned 50% or more. Its fiscal 2025 revenue fell 10.7% to US$364.0bn, the steepest decline in the top 25, and net profit was US$5.1bn. The group fell six places to 12th and employs 488,019 people.
- Revenue (latest fiscal year)
- US$364.0bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 December 2025
- Revenue change (US$)
- -10.7%
- Employees
- 488,019
- Headquarters
- Beijing, China
- Industry (Fortune)
- Petroleum Refining
- Chief executive
- Hou Qijun
- Fortune Global 500 2026 rank
- 12
- Stock listing (Fortune)
- Not listed; government-owned (50%+)
13
Wolfsburg-based carmaker; largest company in Europe
Best for: Automotive
Volkswagen is the largest European company on the Global 500 and the largest carmaker by revenue. Fortune records fiscal 2025 revenue of US$363.1bn, up 3.4%, and net profit of US$8.3bn. The group is headquartered in Wolfsburg and employs 628,893 people. It has been on the Global 500 for 32 years.
- Revenue (latest fiscal year)
- US$363.1bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 December 2025
- Revenue change (US$)
- 3.4%
- Employees
- 628,893
- Headquarters
- Wolfsburg, Germany
- Industry (Fortune)
- Motor Vehicles & Parts
- Fortune Global 500 2026 rank
- 13
14
Japan's largest company by revenue
Best for: Automotive
Toyota Motor is the largest Japanese company on the list. Its figures are for the fiscal year ended 31 March 2026. Revenue rose 6.7% to US$336.3bn and net profit was US$25.5bn. Toyota is headquartered in Toyota City, Aichi, employs 390,927 people and moved up one place to 14th.
- Revenue (latest fiscal year)
- US$336.3bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 March 2026
- Revenue change (US$)
- 6.7%
- Employees
- 390,927
- Headquarters
- Toyota, Japan
- Industry (Fortune)
- Motor Vehicles & Parts
- Chief executive
- Kenta Kon
- Fortune Global 500 2026 rank
- 14
- Stock listing (Fortune)
- Listed
15
E
US oil and gas producer, refiner and chemicals maker
Best for: Oil and gas
ExxonMobil is the largest investor-owned oil company on the Global 500. Fortune records fiscal 2025 revenue of US$332.2bn, down 5%, and net profit of US$28.8bn. The company is headquartered in Spring, Texas, and employs 57,900 people. Fortune lists the company as Exxon Mobil Holdings.
- Revenue (latest fiscal year)
- US$332.2bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- -5%
- Employees
- 57,900
- Headquarters
- Spring, Texas, US
- Industry (Fortune)
- Petroleum Refining
- Fortune Global 500 2026 rank
- 15
16
US pharmaceutical wholesaler, formerly AmerisourceBergen
Best for: Pharmaceutical distribution
Cencora, formerly AmerisourceBergen, distributes pharmaceuticals in the United States and other markets. Its Fortune figures are for the fiscal year ended 30 September 2025. Revenue rose 9.3% to US$321.3bn and net profit was US$1.6bn. The company is headquartered in Conshohocken, Pennsylvania, and employs 49,000 people.
- Revenue (latest fiscal year)
- US$321.3bn (Fortune)
- Fiscal year end
- 30 September 2025
- Revenue change (US$)
- 9.3%
- Employees
- 49,000
- Headquarters
- Conshohocken, Pennsylvania, US
- Industry (Fortune)
- Wholesalers: Health Care
- Chief executive
- Robert P. Mauch
- Fortune Global 500 2026 rank
- 16
- Stock listing (Fortune)
- Listed
17
CS
Chinese state-owned construction and real estate group
Best for: Construction
China State Construction Engineering Corporation (CSCEC) is the world's largest construction company by revenue. Fortune flags it as government owned 50% or more. Fiscal 2025 revenue fell 4.7% to US$289.9bn and net profit was US$3.1bn. Headquartered in Beijing, it employs 370,272 people.
- Revenue (latest fiscal year)
- US$289.9bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 December 2025
- Revenue change (US$)
- -4.7%
- Employees
- 370,272
- Headquarters
- Beijing, China
- Industry (Fortune)
- Engineering & Construction
- Chief executive
- Zheng Xuexuan
- Fortune Global 500 2026 rank
- 17
- Stock listing (Fortune)
- Not listed; government-owned (50%+)
18
Redmond-based software and cloud computing company
Best for: Software and cloud
Microsoft makes software, cloud services, gaming products and devices. Fortune records fiscal 2025 revenue of US$281.7bn, up 14.9%, and net profit of US$101.8bn, the third highest in the top 25. Microsoft gained four places to 18th. It is headquartered in Redmond, Washington, and employs 228,000 people.
- Revenue (latest fiscal year)
- US$281.7bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- 14.9%
- Employees
- 228,000
- Headquarters
- Redmond, Washington, US
- Industry (Fortune)
- Computer Software
- Fortune Global 500 2026 rank
- 18
19
Largest US bank; only bank in the global top 25
Best for: Banking
JPMorgan Chase is the only bank in the global top 25. Fortune measures bank revenue as gross interest income plus gross non-interest income and records US$280.3bn for fiscal 2025, up 0.5%. Net profit was US$57.0bn. The bank is headquartered in New York and employs 318,512 people.
- Revenue (latest fiscal year)
- US$280.3bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- 0.5%
- Employees
- 318,512
- Headquarters
- New York, New York, US
- Industry (Fortune)
- Banks: Commercial and Savings
- Fortune Global 500 2026 rank
- 19
20
Membership warehouse club retailer
Best for: Retail
Costco operates membership warehouse clubs. Its Fortune figures are for the fiscal year ended 31 August 2025. Revenue rose 8.2% to US$275.2bn and net profit was US$8.1bn. Costco is headquartered in Issaquah, Washington, and employs 341,000 people.
- Revenue (latest fiscal year)
- US$275.2bn (Fortune)
- Fiscal year end
- 31 August 2025
- Revenue change (US$)
- 8.2%
- Employees
- 341,000
- Headquarters
- Issaquah, Washington, US
- Industry (Fortune)
- General Merchandisers
- Chief executive
- Ron M. Vachris
- Fortune Global 500 2026 rank
- 20
- Stock listing (Fortune)
- Listed
21
CG
US health insurer and pharmacy-benefit manager
Best for: Health care services
The Cigna Group provides health insurance and pharmacy-benefit management. Fortune records fiscal 2025 revenue of US$274.9bn, up 11.2%, and net profit of US$6.0bn. It is headquartered in Bloomfield, Connecticut, and employs 66,685 people.
- Revenue (latest fiscal year)
- US$274.9bn (Fortune)
- Fiscal year
- Fiscal 2025 (company fiscal calendar)
- Revenue change (US$)
- 11.2%
- Employees
- 66,685
- Headquarters
- Bloomfield, Connecticut, US
- Industry (Fortune)
- Health Care: Pharmacy and Other Services
- Fortune Global 500 2026 rank
- 21
22
London-based oil and gas company
Best for: Oil and gas
Shell is the largest oil company in Europe by revenue and, on Fortune's classification, a UK company headquartered in London. Fiscal 2025 revenue fell 5.3% to US$273.7bn and net profit was US$17.8bn. Shell dropped four places to 22nd and employs 85,000 people.
- Revenue (latest fiscal year)
- US$273.7bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 December 2025
- Revenue change (US$)
- -5.3%
- Employees
- 85,000
- Headquarters
- London, UK
- Industry (Fortune)
- Petroleum Refining
- Fortune Global 500 2026 rank
- 22
23
HH
Taiwanese contract electronics manufacturer
Best for: Electronics manufacturing
Hon Hai Precision Industry, which trades as Foxconn, is a contract electronics manufacturer. Its fiscal 2025 revenue grew 21.7% to US$260.1bn, the fastest growth in the top 25, and it rose five places to 23rd. Net profit was US$6.1bn. Headquartered in New Taipei City, Hon Hai employs 648,492 people.
- Revenue (latest fiscal year)
- US$260.1bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 December 2025
- Revenue change (US$)
- 21.7%
- Employees
- 648,492
- Headquarters
- New Taipei City, Taiwan
- Industry (Fortune)
- Electronics, Electrical Equip.
- Fortune Global 500 2026 rank
- 23
24
G
Mining and commodity trading group based in Switzerland
Best for: Mining and commodity trading
Glencore mines and trades metals, minerals and energy products. Fortune notes that it is incorporated in Jersey with executive offices in Switzerland. Fiscal 2025 revenue was US$247.5bn, up 7.2%, but net profit was only US$363m, the lowest in the top 25. Glencore is headquartered in Baar and employs 80,423 people.
- Revenue (latest fiscal year)
- US$247.5bn (Fortune, converted to US dollars)
- Fiscal year end
- 31 December 2025
- Revenue change (US$)
- 7.2%
- Employees
- 80,423
- Headquarters
- Baar, Switzerland
- Industry (Fortune)
- Mining, Crude-Oil Production
- Chief executive
- Gary Nagle
- Fortune Global 500 2026 rank
- 24
- Stock listing (Fortune)
- Listed
25
Singapore-based commodity trader, privately owned
Best for: Commodity trading
Trafigura is a privately owned commodity trading company that buys, ships and sells oil, metals and minerals. Fortune lists it as a private company with figures for the fiscal year ended 30 September 2025. Revenue was US$240.3bn, down 1.2%, and net profit was US$2.7bn. With 14,476 employees it has by far the smallest workforce in the top 25.
- Revenue (latest fiscal year)
- US$240.3bn (Fortune, converted to US dollars)
- Fiscal year end
- 30 September 2025
- Revenue change (US$)
- -1.2%
- Employees
- 14,476
- Headquarters
- Singapore, Singapore
- Industry (Fortune)
- Trading
- Chief executive
- Richard Holtum
- Fortune Global 500 2026 rank
- 25
- Stock listing (Fortune)
- Not listed; privately held
Changes from the previous year
Frequently asked questions
What is the largest company in the world by revenue?
Amazon is the largest company in the world by revenue in the Fortune Global 500 2026, with fiscal 2025 revenue of US$716.9bn. It overtook Walmart, which reported US$713.2bn and had previously led the ranking. State Grid of China is third with US$555.4bn.
Which country has the most companies on the Global 500?
The United States has the most companies on the Fortune Global 500 2026, with 141, followed by Greater China (mainland China, Hong Kong, Macau and Taiwan) with 122. In the top 25, fourteen companies are American and four are from mainland China, according to Fortune's data.
What is the most profitable company in the world?
Among the 25 largest companies by revenue, Alphabet reported the highest net profit for fiscal 2025, at US$132.2bn, followed by Apple at US$112.0bn and Microsoft at US$101.8bn, according to the Fortune Global 500 2026. Saudi Aramco reported US$92.8bn.
Which company has the most employees in the world?
Walmart has the largest workforce among the world's largest companies, with 2.1 million employees according to Fortune. Amazon follows with 1,576,000 and State Grid with 1,347,273. Across the full Global 500, the companies employ 70.2 million people.
How does Fortune measure revenue for the Global 500?
Fortune uses total revenue for each company's fiscal year ended on or before 31 March 2026, including consolidated subsidiaries and discontinued operations but excluding excise taxes. Non-US figures are converted to dollars at the average exchange rate for the fiscal year. Banks and insurers have sector-specific definitions.
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