5 MN Cos. Make Fortune’s Global 500; 2 Move Up
Five Minnesota companies appear on Fortune‘s new “Global 500” list of the world’s biggest companies. Two of them climbed up the rankings this year, while three others moved lower.
Minnetonka-based UnitedHealth Group, Inc., was the top Minnesota company on the list, placing 39th—12 spots above last year. To create the list, Fortune ranked companies based on their annual revenue for the fiscal year ending on or before March 31 of this year. UnitedHealth’s revenue grew 10.7 percent to $122.5 billion from the prior year.
CHS, Inc., the agricultural co-op giant based in Inver Grove Heights, was the other Minnesota company to rise in the rankings. It placed 233rd, a 26-spot increase over 2013.
Maplewood-based 3M Corporation, meanwhile, slid 17 places to rank 399th, despite the fact that its revenue grew 3 percent to $30.9 billion. Minneapolis-based Target Corporation ranked higher than 3M, at 116th, but it fell three spots from last year. Richfield-based Best Buy dropped four spots to 230th.
Supervalu, Inc.—which ranked 323rd on the 2013 list and 94th on the latest Fortune 500 list of largest U.S. firms—dropped off this year’s Global 500 list. The two lists use a different cutoff date for measuring annual revenue, and Eden Prairie-based Supervalu became substantially smaller after divesting several of its grocery brands. Supervalu had annual revenue of $17.2 billion for its 2014 fiscal year, a nearly 50 percent decrease from 2013.
A couple of other companies with big Minnesota workforces that made the latest Global 500 list include San Francisco-based Wells Fargo & Co., which slid 11 spots to 89th, and Atlanta-based Delta Air Lines, Inc., which rose four places to 299th.
The Minnesota companies that made the list—along with their rankings, annual revenue, and positions on last year’s list—are:
• 39th—UnitedHealth Group, $122.5 billion (ranked 51st last year)
• 116th—Target Corp, $72.6 billion (ranked 113th last year)
• 230th—Best Buy Company, Inc., $45.2 billion (ranked 226th last year)
• 233rd—CHS, Inc., $44.5 billion (ranked 259th last year)
• 399th—3M Corporation, $30.9 billion (ranked 382nd last year)
Wal-Mart Stores, Inc. claimed the top spot on the list from Royal Dutch Shell, which had led the world in revenue since 2012. The Arkansas-based retail juggernaut posted annual revenue of $476.3 billion for the most recent fiscal year.
Two Chinese oil companies, Sinopec Group and China National Petroleum, along with the Texas-based Exxon Mobil, rounded out the top five.
View the entire Fortune Global 500 list here. In addition to the five Minnesota companies listed above, 13 made the regular Fortune 500 list this year, but fell short of claiming a spot on the Global 500.