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Fortune

Alan Murray, Nicholas Gordon

Oil, health care, Texas are winners on this year's Fortune 500

Fortune Oil Apple ExxonMobil Texas Walmart

ExxonMobil CEO Darren Woods (Credit: Patrick T. Fallon—AFP via Getty Images)

Good morning,

For the 69^th time, Fortune today releases the Fortune 500 list, which ranks the largest corporations in the U.S. by revenue. And for the 11^th time, Walmart tops the list. We can debate whether revenue is the best way to rank these companies. (Apple would top the list if it was ranked by profits or market value.) And we can debate how much sense a ranking of U.S.-companies makes in a world where most large corporations compete globally. (The Fortune Global 500 comes out later this year.) But despite those debates, the Fortune 500 has remained the iconic corporate ranking that companies strive for and celebrate.

A few things to note about this year’s list:

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