Virginia’s Fortune 500 list increases to 21 companies

Published June 6, 2016 by Veronica Garabelli

Virginia has increased its number of Fortune 500 companies.

The commonwealth now has 21 companies on the list, up from 19 last year.

The list, compiled by Fortune magazine, ranks the top publicly traded companies in the U.S. based on gross revenue.

Freddie Mac remained the top Virginia-based company on the list at No. 43, down from No. 42 last year. It reported almost $63.5 billion in revenue last year.

Dollar Tree jumped 150 spots to No. 180. The Chesapeake-based company bought Family Dollar last year for $9.1 billion.

WestRock made its debut at No. 251. The Virginia-based company is the result of a merger between Georgia-based RockTenn and Richmond-based MeadWestvaco that was completed last year. MeadWestvaco was No. 464 last year.

Markel (No. 476),  a Glen Allen-based specialty and small business insurer, also is a newcomer. The company, which became publicly traded 30 years ago, had $5.4 billion in revenue in 2015.

Two companies also made comebacks. Richmond-based Performance Food Group was No. 185 with $15.3 billion in revenue in 2015. The foodservice distributor was last on the Fortune 500 list in 2007 before it became a private company.

After falling off the list during the Great Recession, Reston-based NVR returned to the list at No.  498. The company, which operates homebuilding and mortgage banking businesses in 15 states, had revenue of $5.2 billion last year.

McLean-based Tegna was absent from the ranking. The company is the broadcast television and digital media arm of Gannett, which ranked No. 441 on last year’s Fortune 500 list. Gannett’s publishing and broadcasting divisions became two separate, publicly traded companies.

The companies on this year’s list were:

Freddie Mac, McLean, No. 43, down from No. 42, 2015 revenue of $63.5 billion, down 8.5 percent

General Dynamics, Falls Church, No. 88, up from No. 100, revenue of  $31.5 billion, up 2 percent

Capital One Financial, McLean, No. 112, up from No. 126, revenue of $25 billion, up 5.1 percent

Northrop Grumman, Falls Church, No. 118, up from No. 124, revenue of $23.5 billion, down 1.9 percent

Altria Group, Richmond, No. 149, up from No. 169, revenue of $18.9 billion, up 5.1 percent

Dollar Tree, Chesapeake, No. 180, up from No. 330, revenue of $15.5 billion, up 80.2 percent

Performance Food Group, Richmond, No. 185, revenue of $15.3 billion, up 11.6 percent 

AES, Arlington, No. 190, down from No. 178, revenue of  $15 billion, down 13.9 percent

CarMax, Richmond, No. 191, up from No. 232, revenue of $14.9 billion, up 13.3 percent

Computer Sciences Corp. (CSC), Falls Church, No. 233, down from 229,  revenue of $12.2 billion, down 7.9 percent

Dominion Resources, Richmond, No. 243, no change, revenue of $11.7 billion, down 6.1 percent

WestRock, Richmond, No. 251, revenue $11.4 billion, up 15 percent (MeadWestvaco, No. 464 in 2015, was a predecessor company.)

Hilton Worldwide Holdings, McLean, No. 254, up from No. 280, revenue of $11.3 billion, up 7.3 percent

Norfolk Southern, Norfolk, No. 270, down from No. 256, revenue of $10.5 billion, down 9.6 percent

Owens & Minor, Mechanicsville, No. 291, up from No. 309, revenue of $9.8 billion, up 3.5 percent

Advance Auto Parts, Roanoke, No. 293, up from 294, revenue of $9.7 billion, down 1.1 percent

Genworth Financial, Richmond, No. 306, down from No. 304, revenue of $9.2 billion, down 3.3 percent

Huntington Ingalls Industries, Newport News,  No. 378, up from No. 390, revenue $7 billion, up .9 percent

Markel, Glen Allen, No. 476, revenue of $5.4 billion, up 4.6 percent 

Booz Allen Hamilton, McLean, No. 487, down from No. 475, revenue of $5.3 billion, down 3.7 percent

NVR, Reston, No. 498, revenue of $5.2 billion, up 16.1 percent

Dollar Tree photo by Mark Rhodes