Fortune has released the Fortune 500 List for 2023, its annual list of the largest corporations in the U.S., ranked by revenue for the 2022 fiscal year. Across North Texas, 24 companies made the list—including one new local entry and a really big one that will soon be heading south on I-45.

All together, the Fortune 500 companies represent two-thirds of the U.S. GDP with $18 trillion in revenues (up 13% from 2021). However, profits were down 15% overall, falling for the second time in the past three years.

The Top 10 companies in order from No. 1 to No. 10 are Walmart, Amazon.com, ExxonMobil, Apple, UnitedHealth Group, CVS Health, Berkshire Hathaway, Alphabet, McKesson, and Chevron. Walmart held onto the top spot for the 11th year in a row, generating $5.7 trillion cumulative revenue over that time. Snagging No. 2 for the fourth straight year, Amazon.com posted a 9% revenue increase, eclipsing the $510 billion mark. At No. 3 with a 45% jump in revenue, ExxonMobil bumped Apple to No. 4; but with $99.8 billion in profits in 2022, Apple remains the most profitable company on the list for the eighth time in the past nine years. UnitedHealth Group is the highest-ranked healthcare company on the list at No. 5.

The 2023 Fortune 500 list was published this week, with CVS Health CEO Karen Lynch on the cover. She’s one of 52 women CEOs with companies on this year’s list. [Image: Fortune]

52 companies on list led by women CEOs, the most ever

In a note of progress, 52 companies on this year’s list are led by women CEOs—cracking the 10% mark for an all-time high, up from 44 last year.

And in a local note from those female-led companies, No. 6 CVS Health, the highest-ranking company ever led by a female CEO (Karen Lynch, who you can glimpse on the cover above), bought Dallas’ Signify Health in March for $8 billion. The proposed acquisition was announced in September, with Rhode Island-based CVS Health beating out other big-name suitors in a bidding war last summer. Reuters reported that the deal’s closing was delayed by a Department of Justice review over antitrust concerns.

Texas is home to the most Fortune 500 companies yet again

Texas is home to the most Fortune 500 companies of any state. With 55 of the companies under its Lone Star-sized belt, the state lassoed the feat for its second year. California ranked No. 2 with 53 companies, bumping New York to No. 3 with 50.

Two Irving Fortune 500s on the move—in and out

Two notable things about this year’s list: One new local company was added with the relocation of Caterpillar from Deerfield, Illinois, to Irving. And the biggest DFW-based company by far, No. 3-ranked ExxonMobil, is in the process of moving its headquarters from Irving to its campus in Spring, Texas, near Houston. Completion of the move is expected later this year.

“There are signs of progress—slow, but real—in this year’s Fortune 500,” Editor-in-Chief Alyson Shontell writes In her foreword to the June/July 2023 issue of Fortune. “Fifty-two women run companies on the list, up from 44 at this time last year, meaning more than 10% of the nation’s biggest businesses are run by the ‘opposite sex’ for the first time ever. […] There are also more Black CEOs running Fortune 500s than ever before—but it’s shameful to say that there are still only eight.”

Here are the 24 local companies on this year’s list:

North Texas companies on 2023 Fortune 500 List

[Source: Fortune]

Fortune’s June/July 2023 hits newstands on June 20. You can see the complete Fortune 500 List here.

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