Virginia’s Fortune 500 companies

Freddie Mac, the federally sponsored mortgage business headquartered in McLean, continues to be the top-ranked Virginia-based company at No. 38, down two spots from last year, with $122 billion in annual revenue Arlington County-based defense contractors RTX and Boeing were the second and third highest ranking companies based in Virginia, with RTX moving up one spot from last year to No. 54, with $80.73 billion in revenue. Meanwhile, Boeing slid from No. 52 last year to No. 63, a reflection of the aerospace giant’s woes last year, which included a midair panel blowout in a passenger jet and a CEO swap. Last year, Boeing lost $11.8 billion in profits, a 14.5% decrease from 2023.

Notably, Ferguson Enterprises, the Newport News-based plumbing and heating products distributor, debuted on the Fortune 500 at No. 146, following a corporate reorganization. The company, which has about 35,000 employees, reported $29.6 billion in revenue for 2024.

Also notable among Virginia companies this year, Reston federal contractor CACI International moved back on to the Fortune 500, ranking No. 484, and Henrico County insurer Genworth Financial dropped off the Fortune 500, slipping to No. 507.