Fortune 100: Definition, Requirements, and Top Companies

What is the Fortune 100?

The Fortune 100 is the list of the 100 largest U.S. companies by annual revenue. It is the top subset of the annual Fortune 500 list, which ranks the 500 largest public and private U.S. companies that report revenue figures to government agencies. Rankings use each company’s reported fiscal-year revenue.

How the list is compiled

• Includes U.S.-incorporated companies (public and private) that file financial statements with government agencies.
• Ranking is strictly by total annual revenue for the company’s fiscal year.
• Companies with substantial international operations may appear, but foreign-incorporated firms are excluded.

Requirements and historical changes

• From 1955 until 1994, the list focused primarily on manufacturing, mining, and energy companies. Sector restrictions excluded many high-revenue service companies.
• In 1994 Fortune expanded eligibility to include service-sector firms, raising the revenue threshold and diversifying the industries represented.
• Today the Fortune 100 regularly includes companies from technology, retail, healthcare, energy, finance, and more.

Notable history

• The Fortune 500 was first published in 1955; General Motors topped that inaugural list and held the position for decades.
• Since the 1994 expansion, retailers and tech companies have become frequent occupants of the top ranks (for example, Walmart rose to #1 in later years).

2024 Fortune 100 — Top 10

The highest-ranked companies in 2024 were:
1. Walmart
2. Amazon
3. Apple
4. UnitedHealth Group
5. Berkshire Hathaway
6. CVS Health
7. Exxon Mobil
8. Alphabet
9. McKesson
10. Cencora

Fortune 100 vs. Fortune 500 vs. “100 Best Companies to Work For”

• Fortune 100: Top 100 companies by revenue (subset of Fortune 500).
• Fortune 500: Top 500 U.S. companies by revenue.
• Fortune “100 Best Companies to Work For”: A separate list based on employee surveys and workplace metrics (eligibility requires 1,000+ employees); not related to revenue ranking.

Why it matters

Being in the Fortune 100 signals scale and market influence. Movement within the rankings can reflect revenue growth or decline, industry shifts, and broader economic trends. Many Fortune 100 companies also feature in major stock indexes such as the S&P 500.

Key takeaways

• The Fortune 100 ranks U.S. companies by fiscal-year revenue and is derived from the Fortune 500.
• Eligibility broadened in 1994 to include service-sector companies, increasing diversity and revenue thresholds.
• The list highlights large, influential companies across multiple industries and is a useful barometer of corporate scale and sector trends.

Conclusion

The Fortune 100 offers a snapshot of the largest U.S. companies by revenue. It provides a straightforward revenue-based ranking that highlights corporate scale, industry leadership, and changing patterns in the U.S. economy.