FORTUNE announced today that only 153 U.S. companies have made the FORTUNE Global list, the lowest in over a decade. Wal–Mart Stores sustained the top spot on the latest FORTUNE Global 500 list after a nearly 8% increase in revenue-remaining the only retailer in the top ten. Wal–Mart was followed by a close second, Exxon Mobil (U.S.); No. 3 –– Royal Dutch Shell (Netherlands); No. 4 –– BP (Britain); No. 5 –– Toyota Motor (Japan); No. 6 –– Chevron (U.S.); No. 7 –– ING Group (Netherlands); No. 8 –– Total (France); No. 9 –– General Motors (U.S.); and No. 10 –– ConocoPhillips (U.S.). The complete list and accompanying stories will appear in the July 21 issue of FORTUNE, available on newsstands July 14 and online at http://money.cnn.com/magazines/fortune/global500/2008/ July 9.
"The list shows the fewest U.S. businesses (153) in more than a decade and confirms the rising prominence of the emerging markets. Less than ten years ago India, Mexico and Russia posted only one company on the Global 500. This year´s list includes seven from the subcontinent and five firms each from Mexico and Russia," says FORTUNE reporter Jenny Mero in explaining the rankings.
Overall, revenues for the Global 500 companies were $23.6 trillion, up 13%, and profits were $1.6 trillion, up 3.9%. Overseas growth has been a bright spot"”so far"”for many of the world´s largest corporations. Wal–Mart´s international sales grew 17.5% this year"”triple what it saw Stateside"”and now make up 24% of the company´s total revenue, up from 8.9% a decade ago. The U.S. still had the most companies on the list (153), though it is the worst U.S. showing in more than a decade. A falling dollar became an advantage to non–U.S. based companies.
Brazil, Russia, India, and China all came up winners this year, due to the inflow of cash from pumping oil and mining metals. But China is stealing the show with an unprecedented total of 29 companies on the list. That´s as many as Italy, Spain, and Australia combined.
Where the economy has been the weakest, companies have suffered"”particularly those in retail and those no longer bolstered by subprime lending in the States. Bear Stearns, Nike, and the Gap are off the list. Sanyo (No. 459) plunged 103 spots and Motorola fell to No. 200 from No. 143. Meanwhile, Washington Mutual landed at No. 318 and Countrywide (recently acquired by Bank of America) at No. 352, each dropping about 70 spots.
Additional data on the FORTUNE Global 500, including profits, assets, stockholders equity, and employee stats for each Global 500 company; country–by–country rankings; industry leaders; top performing companies; company contact information; and the complete 2008 list is available July 9 exclusively at http://money.cnn.com/magazines/fortune/global500/2008/.
2008 FORTUNE Global 500 facts:
Make–up of the top ten companies:
- Six oil companies (Exxon Mobil, Royal Dutch Shell, BP, Chevron, Total, ConocoPhillips)
- Two auto companies (Toyota Motor, General Motors)
- One retailer (Wal–Mart)
- One financial services company (ING Group)
Highest Profits (in billions):
- United States: Exxon Mobil ($40.6); General Electric ($22.2); Chevron ($18.7)
- Europe: Royal Dutch Shell ($31.3); BP ($20.8); Gazprom ($19.3)
- Asia: Petronas ($18.1);Toyota Motor ($15); China National Petroleum ($14.9)
Top Ranked by Performance:
- Highest Profits (in billions, 2007): Exxon Mobil, $40.6
- Increase in Revenues (% change from 2006): Tata Steel, 353.2
- Return on Revenues (2007 profits as a % of revenues): Akzo Nobel, 69.1
- Biggest Losses (in billions, 2006): General Motors, $38.7
- Increase in Profits (% change from 2006): China Life, 1,588.4
- Return on Assets (2007 profits as a % of assets): Akzo Nobel, 45.4
The Five New Chinese Companies to the List:
- Aluminum Corp. of China (No. 476)
- China Communications Construction (No. 426)
- China Metallurgical Group (No. 480)
- Lenovo Group (No. 499)
- Noble Group (No. 349)
About FORTUNE
FORTUNE is a global leader in business journalism known for its unrivaled access to industry leaders and decision makers. Founded in 1930, FORTUNE magazine has a worldwide circulation of more than 1 million and a readership of nearly 5 million and is home to some of the strongest business franchises, including: FORTUNE 500, FORTUNE 100 Best Companies to Work For, America´s Most Admired Companies, Fastest Growing Companies and Most Powerful Women. The FORTUNE Conference Division extends the brand´s mission into live settings, hosting a wide range of annual conferences for top–level executives, including the FORTUNE Global Forum and the Most Powerful Women Summit. FORTUNE magazine´s online home is CNNMoney.com, the most visited and utilized business destination website, attracting nearly 10.0 million unique visitors per month, according to Nielsen/NetRatings. FORTUNE, along with MONEY, FSB: FORTUNE Small Business, and CNNMoney.com, is part of The Fortune|Money Group, a division of Time Inc, a subsidiary of Time Warner, a leading media and entertainment company.
