What Is the Fortune 100?
The Fortune 100 is the set of the 100 largest U.S. companies by annual revenue, drawn from Fortune magazine’s annual Fortune 500 ranking. The Fortune 500 lists the 500 biggest U.S. companies (public and private) by reported revenue; the Fortune 100 simply means the top 100 companies on that list. The ranking is based strictly on total revenues for each company’s most recent fiscal year and is updated annually by Fortune magazine. (Sources: Fortune; Investopedia)
Key takeaways
– The Fortune 100 is a subset of the Fortune 500: it lists the 100 highest‑revenue U.S. companies as ranked by Fortune.
– Eligibility and ranking are based on reported revenue for a company’s fiscal year; public and private companies that file financial statements with U.S. agencies are considered.
– The Fortune 100 is a revenue ranking only — it is different from lists that rank companies on other measures such as workplace satisfaction.
– The scope of companies included expanded in 1994 to include service companies (previously the list emphasized manufacturing, mining and energy). (Sources: Fortune; Investopedia)
Understanding the Fortune 100
What the list measures
– Metric: Total annual revenues for the company’s fiscal year.
– Universe: U.S.-incorporated companies that file financials with U.S. government agencies (both public and private firms are eligible).
– Exclusions: Purely foreign companies are not included, though many listed firms have substantial international operations. (Source: Fortune)
Why it matters
– Prestige and signaling: Appearing in the Fortune 100 is a widely recognized sign of scale and financial success.
– Practical uses: Investors, job seekers, suppliers, and policymakers use the list to identify large, economically influential companies.
– Limitations: The list measures size (sales/revenue) not profitability, growth rate, employee satisfaction, or long-term value creation. (Source: Investopedia)
Important historical points
– Fortune published its first Fortune 500 in 1955; General Motors topped that first list and held #1 for more than three decades.
– From 1955–1994 the Fortune list (and the embedded top-100 set) emphasized manufacturing, mining, and energy; in 1994 Fortune broadened eligibility to include service companies, which changed the composition and raised the revenue threshold for the top ranks. (Sources: Fortune; Investopedia)
Requirements for the Fortune 100 (how Fortune determines eligibility)
– Company must be incorporated in and operate in the United States.
– Company must report revenue figures to a government agency (the list includes companies that file financial statements with U.S. agencies).
– Both public and private companies that meet reporting criteria are included.
– Ranking is strictly by annual revenue for the company’s fiscal year (Fortune’s methodology page explains the precise treatment of fiscal-year differences and subsidiaries). (Source: Fortune methodology)
Fast facts
– The Fortune 100 is not the same as “Fortune 100 Best Companies to Work For.” The latter is a separate list based on employee surveys and workplace metrics and has different eligibility and methodology rules (e.g., minimum employee counts). (Sources: Fortune)
2024 Fortune 100 Top 10
– Rankings change each year; consult the current Fortune 500 list for the latest top‑100 ranking. Fortune’s website publishes the full Fortune 500 each year, including position changes and company revenues. (Source: Fortune)
How the Fortune 100 and Fortune 500 differ
– Fortune 500: the full list of the 500 largest U.S. companies by revenue.
– Fortune 100: the first 100 entries of the Fortune 500 — simply the highest‑revenue companies within the Fortune 500.
– In short: every Fortune 100 company is on the Fortune 500, but not every Fortune 500 company is in the Fortune 100. (Source: Investopedia)
What is the history of the Fortune 100?
– 1955: Fortune first published the Fortune 500 (General Motors ranked #1). The “Fortune 100” concept is an informal subset of those first 500 entries.
– 1955–1994: Fortune’s main list emphasized manufacturing, mining, and energy; sector lists were published separately for banks, utilities, insurance, retailers, and transportation.
– 1994: Fortune revised the scope to include services; many service companies entered the list and the revenue threshold to make the top 100 rose substantially. (Source: Fortune; Investopedia)
What is the difference between “Fortune 500 / Fortune 100” and “Fortune 100 Best Companies to Work For”?
– Fortune 100 / Fortune 500: Ranked strictly by revenue.
– Fortune 100 Best Companies to Work For: A separate list generated from employee surveys and workplace assessments — ranks companies on aspects like trust, leadership, fairness, and opportunities for employees. Government agencies are not eligible; companies must meet employee-count minimums. (Source: Fortune methodology pages)
Practical steps
A. For companies that want to be eligible and competitive for the Fortune 100
1. Ensure timely, accurate reporting: Make sure revenue and financial statements are filed with the appropriate government agencies in accordance with U.S. reporting requirements. Fortune relies on reported figures. (Practical because Fortune uses officially reported revenue.)
2. Grow top-line revenue: The Fortune 100 is a revenue ranking; scaling sales through product expansion, new markets, acquisitions, or strategic partnerships is essential.
3. Consider M&A and consolidation: Acquisitions can rapidly increase consolidated revenue and alter Fortune ranking, which has happened repeatedly across industries.
4. Maintain U.S. incorporation/operations footprint: Fortune’s list covers companies that operate in and are incorporated in the U.S.; structure and reporting matter for eligibility.
5. Track Fortune’s methodology updates: Fortune occasionally refines how it counts revenues, fiscal-year alignment, and subsidiaries — staying informed helps manage expectations. (Sources: Fortune; Investopedia)
B. For job seekers using the Fortune 100 to assess employers
1. Don’t equate size with culture: Use the Fortune 100 ranking as one signal of company stability/scale, but read employee reviews, Glassdoor scores, and the “100 Best Companies to Work For” list for workplace quality.
2. Research financials: Use company annual reports and SEC filings to understand profitability, balance-sheet strength, and growth prospects, not just revenue size.
3. Evaluate role fit and career path: Large firms can provide formal development and resources; smaller Fortune 500/100 companies may offer broader scope of responsibility.
4. Consider geographic footprint and flexibility: Large U.S. companies often have multiple offices and global operations — check location and remote-work policies. (Sources: Fortune; Investopedia)
C. For investors and analysts
1. Use revenue rank as one input: The Fortune 100 indicates scale but not returns; combine with profitability metrics (margin, ROE), cash flow, and valuation metrics before making investment decisions.
2. Watch sector shifts: Sector composition in the top 100 can reveal macro trends (e.g., rise of tech and services after 1994).
3. Check overlap with indices: Many Fortune 100 firms also trade in major indices (S&P 500) — examine index weighting and exposure when building portfolios. (Sources: Investopedia)
The bottom line
The Fortune 100 is a widely recognized measure of corporate scale in the United States — the 100 highest‑revenue U.S. companies as reported in Fortune’s annual Fortune 500 ranking. The list is useful as a starting point for identifying the country’s largest companies, but users should supplement it with profitability, governance, workplace, and strategic metrics depending on their purpose (investing, job search, supplier selection, research). For the latest rankings and full company data, consult Fortune’s published Fortune 500 list and Fortune’s methodology pages. (Sources: Fortune; Investopedia)
Sources and further reading
– Fortune — “Fortune 500” and methodology pages: https://fortune.com/fortune500/
– Fortune — “100 Best Companies to Work For” and methodology: https://fortune.com/best-companies/
– Investopedia — “Fortune 100” overview (Crea Taylor): https://www.investopedia.com/terms/f/fortune-100.asp
If you’d like, I can:
– Pull the specific Fortune 100 top 10 for 2024 and list their reported revenues, or
– Create a checklist for a company planning a three‑year strategy to reach the Fortune 100. Which would you prefer?