36 Va. companies make 2023 Fortune 1000 list

Thirty-six Virginia-based companies made Fortune magazine’s 69th annual Fortune 1000 list, notably including newcomers to the commonwealth Raytheon Technologies Corp. and Boeing Co. as Virginia’s second and third highest-ranking companies. Freddie Mac remained Virginia’s top-ranked company, at No. 45, and 24 Virginia companies made this year’s elite Fortune 500 list.

Released Monday, the Fortune 1000 list ranks the 1,000 largest United States corporations by total revenue, including public companies and private companies for which revenue information is available.

Aerospace and defense companies Raytheon and Boeing both moved their headquarters to Arlington County from out of state last year. In 2022, Raytheon Technologies, then based in Massachusetts, was 58th on the list. Last year, Boeing, based in Chicago at the time, ranked No. 60.

Notably, Goochland County-based used vehicle retailer CarMax Inc. jumped 50 slots on the 2023 Fortune 500 list, rising from No. 174 last year to No. 124 this year. CarMax raked in $660.8 billion in fiscal year 2023 revenue, down 5.5% from the $699.5 billion it brought in in FY22. As of Feb. 28, the retailer had a total of 240 used car stores. During the fourth quarter of fiscal 2023, the company opened five retail locations in Chicago; Asheville, North Carolina; Indianapolis; College Station, Texas; and Amarillo, Texas.

Henrico County-based convenience retail holding company Arko Corp., which debuted on the Fortune 500 last year at No. 498, moved up almost 40 slots to No. 460. Arko is the parent company of Richmond-based GPM Investments LLC. One of the nation’s largest convenience store chains, GPM’s brands include Fas Mart and E-Z Mart. Arko reported $9.14 billion in 2022, up from almost $7.42 billion in 2021. In 2022, Arko completed two acquisitions, marking 22 acquisitions since 2013, and announced two pending acquisitions: Transit Energy Group LLC, which closed in March, and Quarles Petroleum Inc., which closed in July 2022.

The biggest slides on this year’s Fortune 500 list were seen from Henrico County-based insurance holding company Markel Group Inc., which dropped 63 slots to No. 352, and DXC Technology Co. in Ashburn, which dropped 48 slots, from No. 207 to No. 255. Markel changed its name from Markel Corp. on May 26. In 2022, Markel reported $49.79 billion in total assets, up from almost $48.48 billion in 2021. DXC Technology reported $14.43 billion in FY23, down from $16.26 billion in fiscal year 2022.

New to the Fortune 1000 list this year, coming in at No. 907, is McLean-based government contractor V2X Inc., which formed from the 2022 merger of Colorado-based government contractor Vectrus Inc. and Mississippi-based The Vertex Co.

Tysons-based real estate investment trust Park Hotels & Resorts Inc. reappeared on the list this year at No. 997, but Lynchburg-based nuclear components and fuel supplier BWX Technologies Inc., which was ranked No. 995 in 2022, was knocked off the 2023 list.

Last year, 34 Virginia companies made on the Fortune 1000 list, with 21 in the Fortune 500.

This year, 10 of Virginia’s Fortune 500 companies are based in Fairfax County, which makes it the Virginia locality with the most Fortune 500 companies. The metro Richmond area, including Hanover, Henrico and Goochland counties, has the second most, with five companies.

These are the Virginia-based companies that made the 2023 Fortune 1000 list, in order of ranking:

45) Federal Home Loan Mortgage Corp. (“Freddie Mac”), McLean

57) Raytheon Technologies Corp., Arlington County

58) Boeing Co., Arlington County

91) Performance Food Group Co., Goochland County

105) General Dynamics Corp., Reston

106) Capital One Financial Corp., McLean

113) Northrop Grumman Corp., Fairfax County

124) CarMax, Goochland County

144) Dollar Tree Stores Inc., Chesapeake

194) Altria Group Inc., Henrico County

242) Dominion Energy Inc., Richmond

255) DXC Technology Co., Ashburn

288) Leidos Holdings Inc., Reston

327) AES Corp., Arlington County

352) Markel Group Inc., Glen Allen

375) Huntington Ingalls Industries Inc., Newport News

376) NVR Inc., Reston

390) Owens & Minor Inc., Mechanicsville

431) Hilton Worldwide Holdings Inc., McLean

449) Beacon Roofing Supply, Herndon

452) Booz Allen Hamilton Holding Corp., McLean

460) Arko Corp., Henrico County

479) Science Applications International Corp. (SAIC), Reston

486) Genworth Financial, Henrico County

564) CACI International Inc., Reston

679) Maximus Inc., Reston

688) ASGN Inc., Glen Allen

693) Brink’s Co., Henrico County

723) Parsons Corp., Centreville

755) Graham Holdings Co., Arlington County

856) Tegna Inc., McLean

901) Gannett Co. Inc., McLean

907) V2X Inc., McLean

932) NewMarket Corp., Richmond

968) AvalonBay Communities Inc., Arlington County

987) Park Hotels & Resorts Inc., Tysons

Editor’s note: This article has been updated to reflect General Dynamics Corp.’s and Northrop Grumman Corp.’s current addresses and the total number of Fortune 500 companies in Fairfax County.