Largest companies in the US by revenue: the top 30 from their own 10-K filings

This list is for sellers, analysts and job seekers who need a current ranking of America's biggest companies that they can check. Every revenue and headcount figure comes from the company's own annual report on Form 10-K, opened on SEC EDGAR, with the fiscal year it covers. If you sell to companies this size, the second half of the page covers where the buying happens and how to use the filings to find your way in.

The 30 largest companies in the US by revenue

Revenue is the top line of each income statement in the company's latest 10-K filed by 30 October 2026: "total revenues" for most, "total revenues and other income" for Exxon Mobil, Chevron, Phillips 66 and Marathon Petroleum, and "total net revenue" for JPMorgan Chase. The change compares with the prior year shown in the same filing. Employees are as each 10-K states them, at fiscal year-end. Headquarters are the business addresses on file with the SEC.

A few rows need a note:

• Fiscal years differ. Walmart, Home Depot and Kroger close their years around 31 January, Microsoft and Cardinal Health on 30 June, and Costco at the end of August. Apple's and Cencora's latest 10-Ks cover years that ended in September 2025; both companies filed their last 10-Ks in late October and November. So "Amazon passed Walmart" compares Amazon's calendar 2025 with Walmart's year to 31 January 2026.
• StoneX is on the list because its 10-K's total revenues "combine gross revenues for the physical commodities business and net revenues for all other businesses". Management itself prefers a much smaller operating revenue figure.
• General Motors reports 88,000 hourly and 68,000 salaried employees rather than one total; the 156,000 is their sum. Chevron's 43,039 includes 5,179 service station employees. Exxon Mobil counts only "regular employees" covered by its benefit plans.
• Berkshire Hathaway is consolidated: BNSF Railway, GEICO and its other subsidiaries all sit inside the $371.4 billion.

Just below the cut: Comcast ($123.7 billion) and Valero Energy ($122.7 billion), both for 2025.

What the ranking shows

Health care is the biggest group. Nine of the 30 are health insurers (UnitedHealth, Elevance, Centene, Humana, Cigna), drug wholesalers (McKesson, Cencora, Cardinal Health) or CVS Health, which is both. Together they reported $2.63 trillion, 31% of the list's $8.36 trillion. Much of that revenue passes straight through: premiums paid out as medical claims, and drugs bought from manufacturers and resold to pharmacies. That's why three wholesalers outrank Microsoft while employing a fraction of its staff.

Technology grew fastest. NVIDIA's revenue rose 65.5% in its year to January 2026, Meta's 22.2%, Microsoft's 17.8% and Alphabet's 15.1%. At the other end, every oil company on the list reported lower revenue than a year earlier: Exxon Mobil down 5.0%, Chevron 6.8%, Phillips 66 6.1% and Marathon Petroleum 3.7%.

Revenue says little about headcount. Dividing each company's revenue by its reported employees (our calculation, rounded):

If you price by seat or by site, the employee column matters more than the revenue column. A $400 billion distributor can be a smaller software account than a $165 billion retailer. Our list of the companies with the highest revenue per employee covers the measure across a wider set.

Other ways to rank the biggest US companies

By employees, the order changes completely. Walmart (about 2.1 million, 1.6 million of them in the US) and Amazon (about 1,576,000) lead, then Home Depot (about 472,400), Kroger (more than 403,000), UnitedHealth (more than 390,000), Berkshire Hathaway (about 387,800) and Costco (355,000). See the largest employers in the US for the full ranking.

By market value, technology leads, but every figure is a snapshot. Each 10-K cover states the value of shares held by non-affiliates on one date: about $4.0 trillion for NVIDIA on 25 July 2025, $3.6 trillion for Microsoft on 31 December 2025 and about $3.25 trillion for Apple on 28 March 2025. NVIDIA is 15th by revenue. Stock prices move daily, so check a current quote before quoting a market-value rank.

How we built the list

1. Who counts. Companies with a US business address that file annual reports on Form 10-K with the SEC. Companies headquartered abroad are left out even when their shares trade in New York.
2. What's counted. The top line of the consolidated income statement as reported, including every subsidiary the company consolidates. Banks report revenue net of interest expense, so JPMorgan's figure is $182.4 billion of "total net revenue". Lists that add back gross interest income rank banks higher. Fannie Mae and Freddie Mac also file 10-Ks, but report net revenues of $29.0 billion and $23.3 billion for 2025, far below the cut.
3. Which year. The latest fiscal year with a 10-K filed by 30 October 2026. We don't annualize quarters or blend years.
4. Checking. We started from the SEC's structured financial data and then opened every filing, because the tags can be wrong. In one 10-K for 2025, a solar equipment maker's revenue is tagged as $103.5 billion in one place, while the filing itself reports net revenue of $103.5 million (Tigo Energy). Every figure in the table above was matched to the income statement in the filing.
5. What's missing. Private companies, mutual insurers and cooperatives don't file 10-Ks, so some very large ones aren't here, even where they publish a revenue figure of their own.

The Fortune 500 and the Forbes Global 2000 are the best-known alternatives. They use their own definitions and dates, so their order and figures won't match this table exactly.

What the list is good for if you sell B2B

Group the 30 by how they buy. Health care (9 companies) buys under heavy regulation and privacy rules. Retail and distribution (Amazon, Walmart, Costco, Home Depot, Kroger) buys for stores, warehouses and hourly workforces. Technology (Apple, Alphabet, Microsoft, NVIDIA, Meta) often builds rather than buys, and buys at enormous scale when it does. Energy (4), finance (Berkshire, JPMorgan, StoneX), autos (Ford, GM) and telecom (Verizon, AT&T) make up the rest. The firmographics that matter differ for each group.

Treat each company as several accounts. At this size the budget and the business case usually sit in a business unit, while central procurement runs sourcing, security review and supplier onboarding. The 10-K's segment note shows the units. Berkshire Hathaway is the extreme case: its 10-K says its "operating subsidiaries are managed on an unusually decentralized basis" with "few centralized or integrated business functions", so you sell to BNSF or GEICO, not to Omaha. This is general guidance; how centralized buying is varies by company and category.

Read the filing before the first call. Item 1 describes the segments and strategy, Item 1A the risks management worries about, the human capital section the size and shape of the workforce, and MD&A what drove the year. Our guide to account research turns that into a one-page brief, and how to find decision makers covers finding the owner inside a business unit. At volume, this research is the slow part; Bebop does it for each account in a list.

Worked example

Illustrative example. Rotawise (rotawise.example) sells shift scheduling software for $3 per hourly worker per month. Its account executive uses the 10-Ks to size two accounts from this list:

• Home Depot: about 472,400 associates, of whom about 53,400 are salaried. Hourly workers: 472,400 minus 53,400 = 419,000. Full deployment: 419,000 x $3 x 12 = about $15.1 million a year.
• Walmart: about 1.6 million US associates, about 92% hourly. Hourly US workers: 1.6 million x 0.92 = about 1.47 million. Full deployment: about $53 million a year.

Neither company will sign for the full number first. A realistic first deal is a pilot for one region of about 5,000 workers: 5,000 x $3 x 12 = $180,000 a year, small enough to sit in a regional operations budget. The account executive plans for the pilot, targets the operations leader for one region, and uses the full-deployment figure only to show what success is worth.

Next step: turn one of these companies into a call plan with the account plan template.