Business & Tech
53 CA Companies Make Fortune 500 List For 2023
Three California companies are among the nation's top 10 earners, and another 50 made this year's Fortune 500.
CALIFORNIA — Fortune Magazine on Monday released its annual ranking of the 500 biggest companies in America by revenue, and 53 of them have headquarters in California.
This is the 69th edition of the Fortune 500 list, a ranking of companies by total annual revenue. The corporations on the list had combined revenues of $18 trillion in fiscal year 2022 and account for two-thirds of the gross domestic product, Fortune said in a news release. Profits, down 15 percent, fell for the second time in the last three years.
In the Golden State, some companies posted revenue growth well into the double-digits, including Chevron, Uber, Disney, Qualcomm and TD Synnex. Live Nation Entertainment recorded an eye-popping 166 percent surge in revenue.
Find out what's happening in Across Californiafor free with the latest updates from Patch.
Here are the top California companies that made the Fortune 500, including their overall rankings and reported revenue:
- #4: Apple - $393.4 billion in revenue (+7.8%)
- #8: Alphabet - $282.8 billion in revenue (+9.8%)
- #10: Chevron - $246.2 billion in revenue (+51.6%)
- #31: Meta Platforms - $116.6 billion in revenue (-1.1%)
- #47: Wells Fargo - $82.9 billion in revenue (+0.5%)
- #48: Walt Disney - $82.7 billion in revenue (+22.7%)
- #62: Intel - $63 billion in revenue (-20.2%)
- #63: HP - $63 billion in revenue (-0.8%)
- #64: TD Synnex - $62.3 billion in revenue (+97.2%)
- #82: Cisco Systems - $51.5 billion in revenue (+3.5%)
- #98: Qualcomm - $44.2 billion in revenue (+31.7%)
- #123: Broadcom - $33.2 billion in revenue (+21%)
- #126: Molina Healthcare - $32 billion in revenue (+15.1%)
- #127: Uber Technologies - $31.9 billion in revenue (+82.6%)
- #129: Netflix - $31.6 billion in revenue (+6.5%)
- #133: Salesforce - $31.3 billion in revenue (+18.3%)
- #137: Visa - $29.3 billion in revenue (+21.6%)
- #148: Paypal Holdings - $27.5 billion in revenue (+8.5%)
- #150: Gilead Sciences -$27.3 billion in revenue (-0.1%)
- #152: Nvidia - $27 billion in revenue (+0.2%)
- #154: Amgen - $26.3 billion in revenue (+1.3%)
- #155: Applied Materials - $25.8 billion in revenue (+11.8%)
- #167: Advanced Micro Devices - $23.6 billion in revenue (+43.6%)
- #180: PG&E - $21.7 billion in revenue (+5%)
- #221: Western Digital - $18.8 billion in revenue (+11.1%)
- #223: Ross Stores - $18.7 billion in revenue (-1.2%)
- #233: Adobe - $17.6 billion in revenue (+11.5%)
- #234: Block - $17.5 billion in revenue (-0.7%)
- #240: Lam Research - $17.2 billion in revenue (+17.8%)
- #241: Edison International - $17.2 billion in revenue (+15.5%)
- #248: Live Nation Entertainment - $16.7 billion in revenue (+166.1%)
- #265: Gap - $15.6 billion in revenue (-6.3%)
- #285: Sempra - $14.4 billion in revenue (+12.3%)
- #295: Farmers Insurance Exchange - $14.1 billion in revenue (+0.3%)
- #312: Pacific Life - $13.4 billion in revenue (-4.1%)
- #313: VMware - $13.3 billion in revenue (+3.9%)
- #321: Intuit - $12.7 billion in revenue (+32.1%)
- #393: eBay - $9.8 billion in revenue (-21%)
- #416: KLA - $9.2 billion in revenue (+33.1%)
- #437: Williams-Sonoma - $8.7 billion in revenue (+5.2%)
- #438: Chipotle Mexican Grill - $8.6 billion in revenue (+14.4%)
- #440: LPL Financial Holdings - $8.6 billion in revenue (+11.4%)
- #450: Airbnb - $8.4 billion in revenue (+40.2%)
- #456: Franklin Resources - $8.3 billion in revenue (-1.8%)
- #458: A-Mark Precious Metals - $8.2 billion in revenue (+7.2%)
- #471: Sanmina - $7.9 billion in revenue (+16.8%)
- #481: First American Financial - $7.6 billion in revenue (-17.5%)
- #484: Activision Blizzard - $7.5 billion in revenue (-14.5%)
- #488: Skechers U.S.A. - $7.4 billion in revenue (+18%)
- #491: SVB Financial Group - $7.4 billion in revenue (+22.8%)
For the first time in the list’s history, more than 10 percent of Fortune 500 companies have female CEOs. This year’s list includes 52 Fortune 500 companies that are led by women, an all-time high, up from 44 last year.
Find out what's happening in Across Californiafor free with the latest updates from Patch.
Seven of those women are the chief executives at California companies that made the list, sitting at the helm of Advanced Micro Devices, PG&E, Ross Stores, Williams-Sonoma, Franklin Resources, Clorox and Arista Networks.
The number of companies led by women in this year’s Fortune 500 are a “slow, but real” sign of progress, Fortune Editor-in-Chief Alyson Shontoll said in her foreword in the June/July issue of the magazine.
“There are also more Black CEOs running Fortune 500s than ever before — but it’s shameful to say that there are still only eight,” Shontoll wrote.
The companies on the list are based in 224 cities in 38 states. For the second year, Texas leads with 55 Fortune 500 companies, followed by California with 53 companies, which bumped New York to No. 3 with 50 companies.
With 40 Fortune 500 companies based there, New York City is the top-ranked municipality, followed by Houston with 22 and Atlanta with 15.
The top 10 companies on the 2023 list are Walmart, Amazon.com, Exxon Mobil, Apple, UnitedHealth Group, CVS Health, Berkshire Hathaway, Alphabet, McKeeson and Chevron.
Walmart held the top spot for the 11th consecutive year, generating $5.7 trillion cumulative revenue over that time. Amazon.com is at No. 2 for the fourth straight year with a 9 percent jump in revenue, eclipsing the $510 billion mark. At No. 3 with a 45 percent jump in revenue, Exxon Mobil bumped Apple to No. 4.
But with $99.8 billion in profits, Apple was the most profitable company on the list for the eighth time in nine years.
UnitedHealth Group is the highest-ranked health care company on the list at No. 5, followed by CVS Health at No. 6.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
