Goochland-based Performance Food Group was the highest-ranked local company in Fortune magazine’s latest annual roundup of the 500 largest American companies by revenue. (BizSense file)
Goochland-based Performance Food Group rose to 84th place in the annual Fortune 500 list, marking its second straight year in the coveted rankings’ top 100.
It’s also the fourth year in a row PFG maintained its title as the highest ranked Richmond-area company on the list, continuing its steady rise after knocking tobacco giant Altria Group from the top spot in 2021.
The food distribution giant was among eight local firms on the list – the same eight companies that earned a spot in the top 500 for the past two years.
The others were CarMax, Altria, Dominion, Markel, Owens & Minor, ARKO and Genworth Financial. The annual list compiled by Fortune magazine ranks America’s largest companies by annual revenue.
PFG raked in $53.4 billion in revenue in 2023, a roughly 13 percent increase from the previous year.
PFG’s West Creek neighbor CarMax was the second highest-ranked local company on the list, at No. 141. That’s down from No. 124 last year. The used car retailer dropped about 6 percent in revenue, from $33.2 billion in 2022 to $31.1 billion in 2023.
Rounding out the local top three was Altria at No. 196 – a two-place drop from last year’s rankings. It earned $20.5 billion in revenue in 2023, slightly down from the past two years.
CarMax and Altria were the only Richmond-area businesses to fall in the rankings this year. The others each improved on their previous rankings by at least two places.
| Company | ’24 Rank | ’23 Revenue | Previous rank | # Employees |
| PFG | 84 | $53.4B | 91 | 34,825 |
| CarMax | 141 | $31.1B | 124 | 30,621 |
| Altria | 196 | $20.5B | 194 | 6,400 |
| Dominion | 230 | $17.9B | 242 | 17,700 |
| Markel | 262 | $15.8B | 352 | 21,600 |
| Owens & Minor | 388 | $10.3B | 390 | 22,200 |
| ARKO | 453 | $8.2B | 460 | 13,481 |
| Genworth Financial | 477 | $7.5B | 486 | 2,700 |
Additionally, four local firms landed in the Fortune 1000: Brink’s, NewMarket, Universal and ASGN.
Virginia landed 39 Fortune 1000 companies this year, a small uptick from last year’s 36, with 24 in the top 500. Mortgage provider Freddie Mac held its title of the top-ranked Virginia company at its No. 36, improving on last year’s No. 45 spot after experiencing an almost 25 percent increase in revenue. Aerospace giants Boeing and RTX rounded out the top 3, earning the No. 52 and No. 55 spots respectively.
Walmart and Amazon earned the top two spots nationally, which they’ve held since 2020, and Apple overtook Exxon Mobil for the No. 3 spot.
The full list of this year’s Fortune 500 and Fortune 1000 companies can be found here.
Correction: An earlier version of this story incorrectly listed Genworth’s rank on the Fortune 500 list. The information has been updated.
Goochland-based Performance Food Group was the highest-ranked local company in Fortune magazine’s latest annual roundup of the 500 largest American companies by revenue. (BizSense file)
Goochland-based Performance Food Group rose to 84th place in the annual Fortune 500 list, marking its second straight year in the coveted rankings’ top 100.
It’s also the fourth year in a row PFG maintained its title as the highest ranked Richmond-area company on the list, continuing its steady rise after knocking tobacco giant Altria Group from the top spot in 2021.
The food distribution giant was among eight local firms on the list – the same eight companies that earned a spot in the top 500 for the past two years.
The others were CarMax, Altria, Dominion, Markel, Owens & Minor, ARKO and Genworth Financial. The annual list compiled by Fortune magazine ranks America’s largest companies by annual revenue.
PFG raked in $53.4 billion in revenue in 2023, a roughly 13 percent increase from the previous year.
PFG’s West Creek neighbor CarMax was the second highest-ranked local company on the list, at No. 141. That’s down from No. 124 last year. The used car retailer dropped about 6 percent in revenue, from $33.2 billion in 2022 to $31.1 billion in 2023.
Rounding out the local top three was Altria at No. 196 – a two-place drop from last year’s rankings. It earned $20.5 billion in revenue in 2023, slightly down from the past two years.
CarMax and Altria were the only Richmond-area businesses to fall in the rankings this year. The others each improved on their previous rankings by at least two places.
| Company | ’24 Rank | ’23 Revenue | Previous rank | # Employees |
| PFG | 84 | $53.4B | 91 | 34,825 |
| CarMax | 141 | $31.1B | 124 | 30,621 |
| Altria | 196 | $20.5B | 194 | 6,400 |
| Dominion | 230 | $17.9B | 242 | 17,700 |
| Markel | 262 | $15.8B | 352 | 21,600 |
| Owens & Minor | 388 | $10.3B | 390 | 22,200 |
| ARKO | 453 | $8.2B | 460 | 13,481 |
| Genworth Financial | 477 | $7.5B | 486 | 2,700 |
Additionally, four local firms landed in the Fortune 1000: Brink’s, NewMarket, Universal and ASGN.
Virginia landed 39 Fortune 1000 companies this year, a small uptick from last year’s 36, with 24 in the top 500. Mortgage provider Freddie Mac held its title of the top-ranked Virginia company at its No. 36, improving on last year’s No. 45 spot after experiencing an almost 25 percent increase in revenue. Aerospace giants Boeing and RTX rounded out the top 3, earning the No. 52 and No. 55 spots respectively.
Walmart and Amazon earned the top two spots nationally, which they’ve held since 2020, and Apple overtook Exxon Mobil for the No. 3 spot.
The full list of this year’s Fortune 500 and Fortune 1000 companies can be found here.
Correction: An earlier version of this story incorrectly listed Genworth’s rank on the Fortune 500 list. The information has been updated.