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Fortune 1000

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Fortune 1000
NameFortune 1000
CaptionAnnual list of top 1,000 U.S. companies by revenue
Established1999 (as expansion of Fortune 500)
CountryUnited States
PublisherFortune (magazine)

Fortune 1000 is an annual list published by Fortune (magazine) ranking the 1,000 largest corporations in the United States by consolidated revenue. It functions as an extension of the Fortune 500 and is widely cited by analysts at institutions such as Goldman Sachs, JPMorgan Chase, and Morgan Stanley for benchmarking. Major corporations frequently appearing include firms like Walmart, ExxonMobil, Apple Inc., Berkshire Hathaway, and Amazon (company), and the list is used by policymakers at agencies such as the Securities and Exchange Commission, Federal Reserve System, and U.S. Department of the Treasury.

Overview

The list compiles the top 1,000 U.S.-based public and private corporations by annual revenue, drawing attention from media outlets including The New York Times, The Wall Street Journal, and Bloomberg L.P.. Corporate leaders such as Warren Buffett, Tim Cook, Jeff Bezos, Jamie Dimon, and Mary Barra are often associated with entries, while multinational corporations like General Electric, AT&T, Chevron Corporation, Ford Motor Company, and Alphabet Inc. illustrate the list’s breadth. Analysts from McKinsey & Company, Boston Consulting Group, and Deloitte use the list alongside indices such as the Dow Jones Industrial Average, S&P 500, and NASDAQ Composite.

Historical Development

Fortune introduced the expanded 1,000-company ranking to supplement its long-running 500-company roster, evolving alongside corporate reporting practices that trace back to publications like Forbes (magazine), The Economist, and trade journals. The list reflects corporate transformations from the post-World War II era through the Dot-com bubble, the 2008 financial crisis, and the COVID-19 pandemic, capturing shifts exemplified by companies like IBM, Sony, Enron, Lehman Brothers, and Tesla, Inc.. Regulatory events such as the Sarbanes–Oxley Act, court cases involving United States v. Microsoft Corp., and mergers including Exxon-Mobil merger and Dow Chemical and DuPont merger have reshaped the composition.

Criteria and Compilation Methodology

Fortune compiles the list using consolidated annual revenues reported in corporate filings filed with bodies like the Securities and Exchange Commission and audited statements from firms such as Procter & Gamble, Coca-Cola Company, PepsiCo, Pfizer, and Johnson & Johnson. The methodology prioritizes fiscal-year revenues, applying adjustments for acquisitions, divestitures, and currency effects similar to practices at Ernst & Young, PricewaterhouseCoopers, KPMG, and Grant Thornton. The list excludes non-U.S. headquartered firms headquartered outside jurisdictions such as United Kingdom, Japan, Germany, China, and France unless they maintain primary incorporation in the United States, a distinction relevant to corporations like Toyota Motor Corporation, Samsung Electronics, and Royal Dutch Shell.

Composition and Industry Distribution

Entries span sectors represented by conglomerates and specialized firms including Walmart and Target Corporation (retailing), JPMorgan Chase, Bank of America, and Citigroup (banking), AT&T and Verizon Communications (telecommunications), and UnitedHealth Group, CVS Health, and Cigna (healthcare). Manufacturing stalwarts such as General Motors, Boeing, 3M, and Caterpillar appear alongside technology leaders like Microsoft, Intel Corporation, Cisco Systems, Oracle Corporation, and Meta Platforms. Energy firms such as ConocoPhillips, Phillips 66, Schlumberger, and Halliburton and service giants like UPS, FedEx, Accenture, and McDonald's Corporation illustrate cross-industry representation. Geographic hubs for headquarters include New York City, San Francisco, Chicago, Houston, and Seattle.

Economic Impact and Significance

Companies on the list account for a substantial share of U.S. corporate revenues, employment, and capital expenditures, influencing markets monitored by New York Stock Exchange, Nasdaq Stock Market, and rating agencies such as Moody's Investors Service, Standard & Poor's, and Fitch Ratings. Their investment decisions affect supply chains linked to firms like Boeing and Lockheed Martin and intersect with policymaking at bodies such as the U.S. Congress and the White House on topics addressed in statutes like the Dodd–Frank Wall Street Reform and Consumer Protection Act and trade negotiations with partners such as the European Union, Canada, and Mexico. Corporate philanthropy by list members engages institutions like The Gates Foundation and The Rockefeller Foundation.

Criticisms and Limitations

Critics from academic centers such as Harvard Business School, Stanford Graduate School of Business, and Wharton School note that ranking by gross revenue privileges scale over profitability, innovation, or market capitalization metrics used by firms like Alphabet Inc. and Apple Inc.. Methodological debates echo analyses by researchers affiliated with National Bureau of Economic Research, Brookings Institution, and Peterson Institute for International Economics who argue the list underrepresents emerging start-ups like those in Silicon Valley and overlooks private companies such as Cargill and Koch Industries due to opaque reporting. Legal scholars referencing cases like United States v. Enron Corp. and regulatory reviews after The 2008 financial crisis highlight survivorship bias and the impact of accounting standards promulgated by the Financial Accounting Standards Board.

Category:Lists of companies of the United States