Walmart is the world's largest corporations by revenue for fiscal 2021

Fortune announced the Fortune Global 500TM list for 2022, ranking the world's largest corporations by revenue for fiscal 2021. Walmart claims the top spot for the ninth consecutive year, and for the 17th time since 1995. Saudi Aramco (No. 6) reclaims its title as the world's most profitable company, with $105 billion in earnings.

Mainland China (including Hong Kong), with 136, once again has the most companies on the list, up one from last year.  Adding Taiwan, the total for Greater China is 145. The US, with 124, is up two; in third place, Japan lost six, for a total of 47.

For the first time, the aggregate revenue of Fortune Global 500 companies based in Greater China (including Taiwan) exceeded the revenue of US companies on the list, accounting for 31% of the total.

Of the 2022 rankings, Fortune List Editor Scott DeCarlo says, "A rebound from the worst depths of the pandemic created a huge tailwind for the world's largest companies by revenue. Aggregate sales and profits hit record levels in the fiscal year 2021 for the Fortune Global 500. The Global 500 is the ultimate scorecard for business success and the companies face another big test navigating several global economic headwinds in 2022."

Fortune Global 500 companies generated revenues totalling $37.8 trillion—more than one-third of the world's GDP—for an increase of 19% over last year, marking the highest annual growth rate in the list's 33-year history. Cumulative profits were up 88% over last year, for a record $3.1 trillion. Companies on the 2022 list employ 69.6 million people worldwide and are based in 229 cities and 33 countries and regions around the world. The number of women CEOs of Fortune Global 500 companies rose to 24 this year, from 23 last year.

The 2022 Fortune Global  500 Top 10 LIST:   
1. Walmart (U.S.)    
2. Amazon.com (U.S.)  
3. State Grid (China) 
4. China National Petroleum (China)    
5. Sinopec (China)   
6. Saudi Aramco (Saudi Arabia)
7. Apple (U.S.)  
8. Volkswagen (Germany)   
9. China State Construction Engineering (China)
10. CVS Health (U.S.) 

View the complete list here: https://fortune.com/global500/2022

In her foreword to the magazine's August/September 2022 issue, Fortune Editor-in-Chief Alyson Shontell writes, "Here's the catch: [These] numbers reflect financials from 2021 when the world was starting to bounce back from COVID-19. This year has brought a whole new truckload of challenges... For businesses of every size, the real test will be who can survive and thrive in tough conditions like these, especially if—or when—a recession of unknown length and depth settles in."

Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2022. All companies on the list must publish financial data and report part or all of their figures to a government agency. Figures are as reported, and comparisons are with the prior year's figures as originally reported for that year. Fortune does not restate the prior year's figures for changes in accounting.