Richmond’s big six have made a big list again.
The annual Fortune 500 list was released this week and, as usual, Richmond’s largest corporations made an appearance.
Altria, Dominion Resources, CarMax, Genworth, Owens & Minor and MeadWestvaco represented the area on the annual list that ranks the nation’s largest corporations based on annual revenue.
|Owens & Minor||#297 (298)||$8.9B||$109M|
*All figures are according to Fortune’s analysis
Four of the six (Altria, Dominion, Genworth and MeadWestvaco) saw their ranking drop this year.
CarMax saw its ranking jump to 259 from 279 last year. Owens & Minor moved up one spot to 297 on Fortune’s list.
Tobacco giant Altria held its spot as Richmond’s richest company in terms of revenue. It had $17.5 billion in revenue for 2012 and profits $4.18 billion, according to Fortune’s analysis.
MeadWestvaco saw the biggest drop from last year’s rankings, falling to 448 on the list from 406. That was based on $5.6 billion in revenue, a decline of 8 percent, according to Fortune.
Other Richmond firms have come and gone over the years, this year’s six have been on the list since at least 2007.
When things were flush from 2008 revenue, Richmond had 12 companies on the list. Markel, Brink’s Universal Corp. and others have made the list over the years. And the region lost a few Fortune 500 regulars with the falls of Circuit City and LandAmerica and the acquisition of Massey Energy in 2011.
Twenty-three companies from Virginia made the latest list. Of those, Freddie Mac was the highest ranked at No. 31, thanks to its $80.6 billion in revenue.
Wal-Mart and Exxon Mobil, the perennial top two nationwide, battled it out again this year. The retail giant took the top spot with $469.2 billion, besting Exxon by $20 billion.
A look beyond the face value of the numbers would have, in my opinion, made this a much better article. One need look no further than the embedded link to the F500 list to obtain the information and facts presented here. Some analysis of the numbers would provide a perspective of the actual business climate in the Richmond area. e.g.:
MWV Revenue declined not due to poor performance but to a spin-off of the Consumer and Office Products division.
Also, perhaps a figure of employment #s in the Richmond area would add some color to an otherwise black-and-white article.