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Rhode Island Companies Shine in 2025 Fortune 500 List

The skyline of Rhode Island represents its economic achievements and corporate presence.

News Summary

Five companies from Rhode Island, including CVS Health Corp. at fifth place, have made it to the 2025 Fortune 500 list. The state showcases significant corporate representation with other firms like United Natural Foods and Textron also ranking. This year’s list reflects a growing presence of female-led companies, with CVS Health’s CEO recognized as a leader. Overall, the Fortune 500 continues to emphasize the impact of corporations on the U.S. economy despite challenges in profitability.

Rhode Island

Five companies from Rhode Island have secured positions on the 2025 Fortune 500 list, a prominent ranking of the largest U.S. corporations. Leading the state’s representation is CVS Health Corp., which climbed to the fifth spot this year, an improvement from its sixth-place ranking in 2024. CVS Health achieved an impressive annual revenue of $772.8 billion, making it the highest-ranked company based in Rhode Island.

The Fortune 500 list serves as a benchmark for the largest U.S. companies, with a threshold revenue requirement of $7.4 billion for inclusion. This year marks the 69th edition of the list, showcasing the continued significance of these corporations in the U.S. economy. Collectively, the companies included in the list reported combined revenues of an astounding $18 trillion for the fiscal year 2022. However, it’s notable that profits collectively declined by 15 percent, reflecting the ongoing challenges faced by many businesses.

Alongside CVS Health, other notable Rhode Island companies on the Fortune 500 list this year include United Natural Foods, Inc., which ranked 139th with a revenue of $28.9 billion; Textron Inc., at 318th with $12.9 billion; and Citizen’s Financial Group Inc., ranked 419th with a revenue of $9.1 billion.

Leadership and Representation

The 2025 Fortune 500 list reflects a milestone in gender representation, as the number of companies led by female CEOs reached an all-time high of 52. CVS Health’s CEO, Karen Lynch, has been recognized as the most profitable female-led company on the list and was highlighted in the June/July issue of Fortune magazine. Under her leadership, CVS Health has seen significant growth in its revenue.

Regional and National Context

This year, Texas continues to dominate the Fortune 500, housing 55 companies, followed closely by California with 53 and New York with 50. New York City stands out as the metropolitan area with the highest concentration, boasting 40 Fortune 500 companies. The top ten companies on the list this year also include industry giants like Walmart, Amazon.com, Exxon Mobil, and Apple. Remarkably, Walmart retains its position as the top company for the 11th consecutive year, generating $5.7 trillion in annual revenue.

Economic Impact

The Fortune 500 companies play a crucial role in the U.S. economy, accounting for approximately two-thirds of the nation’s gross domestic product (GDP). This influential list not only highlights the top performers in various sectors but also provides insights into economic trends and corporate health within the United States.

Overall, Rhode Island’s representation in the 2025 Fortune 500 list underscores the state’s economic contributions and the successes of its leading companies, particularly CVS Health, which continues to thrive on both a state and national level.