CLEVELAND — Fortune has revealed its annual list of the largest corporations in the United States, ranked by revenue for the 2023 fiscal year.
Ten Northeast Ohio companies made the cut to be on the prestigious Fortune 500 list for 2024. The revenue threshold for making the 2024 Fortune 500 was $7.1 billion, down 2% from a year ago.
Here are the Fortune 500 companies from Greater Cleveland along with their revenues:
No. 62 - Progressive Corporation: $62.1 billion. After experiencing a 79% decrease in profit in 2022, Fortune noted that Progressive saw a staggering 440.9% increase in the 2023 fiscal year. Revenues for the Mayfield Village-based insurance company increased from $49.6 billion to $62.1 billion, as Progressive moved up 26 spots in the Fortune 500 ranking from last year.
No. 176 - Sherwin-Williams: $23 billion. The paint and coating manufacturing company, headquartered in Cleveland, moved up two spots in this year's Fortune 500 list.
No. 185 - Cleveland-Cliffs: $21.9 billion. The Cleveland-based metals company moved down from No. 170 last year after a slight decrease in revenue and an over 70% decrease in profits.
No. 204 - Goodyear Tire & Rubber Company: $20.1 billion. The Akron-based tire manufacturer moved down from No. 191 last year following a small decrease in revenue, but a -441% profit change from the 2022 fiscal year.
No. 216 - Parker-Hannifin: $19.1 billion. The Mayfield Heights corporation, specializing in motion and control technologies, climbed 45 spots in the Fortune 500 after increasing revenue by 20% with a 58% profit increase.
No. 331 - FirstEnergy: $12.45 billion. The Akron-based utility company moved forward 12 spots from the previous year, recording a 171% profit increase to go with a 3.3% boost in revenue.
No. 386 - KeyCorp: $10.3 billion. The commercial banking company, headquartered in Cleveland, moved up 73 spots from the previous year after a nearly 28% jump in revenue.
No. 450 - Avery Dennison: $8.3 billion. The Mentor-based "global materials science and digital identification solutions company" moved down 29 spots from last year's list.
No. 465 - The J.M Smucker Company: $8 billion. The maker of Smucker's jelly, Jif peanut butter, Milk-Bone, Folgers coffee, and more, based in Orrville, moved up 19 spots from 2023.
No. 492 - RPM International: $7.2 billion. New on the list this year, the Medina-based chemical company saw an 8% revenue increase this year to move it from "Best of the Rest" status to a Fortune 500 company.
Northeast Ohio companies that just missed the cut include:
- No. 537 - TransDigm Group (Cleveland): $6.5 billion
- No. 662 - The Timken Company (North Canton): $4.8 billion
- No. 696 - Applied Industrial Technologies (Cleveland): $4.4 billion
According to Fortune 500, Ohio's top business is Dublin-based wholesale health-supply distributor Cardinal Health, which once again ranked 14th overall with $205 billion in revenue.
Walmart finished in the top spot of the Fortune 500 for the 12th year in a row, with $648 billion in revenue. Amazon, Apple, UnitedHealth Group, and Berkshire Hathaway rounded out the top five.
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