Oil and gas giants like Phillips 66 and ConocoPhillips helped Houston claim the No. 2...
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Houston is home to more Fortune 500 companies — 22 this year — than any other U.S. metro area besides New York City,For the past 69 years, Fortune has ranked the top U.S. companies by total revenue. This year's rankings pull data from fiscal year 2022. At the state level, Texas remained first in the country, with Houston at the lead.
The Houston-based companies on this year's Fortune 500 are less than last year's 24, but those that remained overwhelmingly rose in rank — most of them off the back ofafter Russia's invasion of Ukraine. Houston's top company, Phillips 66, rose on the national list to No. 17 from No. 29 this year, with revenue increasing 53 percent to $170 billion. Cheniere Energy jumped by more than 100 spots to No. 122 after its revenue more than doubled during fiscal year 2022 to $33.4 billion.
New entrants on the Forbes list from Houston include Coterra Energy at No. 420, and Par Pacific Holdings at No. 492, both making their first appearance. Houston-based Marathon Oil had ranked among the top 100 companies for more than 15 years before dropping down to No. 173 in 2012 and then disappearing from the list entirely in 2017. The company returned at No. 456 in 2019 and is back this year at No. 464.
Notable drops include Katy-based Academy Sports and Outdoors, falling to No. 544 from No. 481 after its revenue declined by more than 5 percent to $6.4 billion from itsNationally, Walmart remained in the top spot for the 11th year in a row with $5.7 trillion in revenue. It was a record year for representation, with 52 women and eight Black CEOs among the top 500 companies.
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