The 2026 Fortune Global 500 was published July 28, ranking the world’s largest public and private companies by revenue for the 2025 fiscal year.
Healthcare was the fifth-largest sector on the list, with 31 companies represented, trailing only financials (123), energy (77), technology (38) and motor vehicles and parts (35), according to Fortune. Together, the Global 500’s 500 companies generated $43.1 trillion in revenue, up 3.2% year over year.
Here are three takeaways for healthcare leaders:
1. UnitedHealth Group was the highest-ranked healthcare company in the world, landing at No. 4 overall with $447.57 billion in revenue, up 11.8% year over year.
2. Three U.S. pharmaceutical distributors — McKesson (No. 7), Cencora (No. 16) and Cardinal Health (No. 27) — all placed in the top 30, reflecting the thin margins and massive scale that define the drug distribution business.
3. Eli Lilly posted the largest revenue jump among healthcare companies on the list, with revenue climbing 44.7% year over year to $65.18 billion, fueled by demand for its GLP-1 and diabetes drugs.
Here are all 31 healthcare companies ranked on the 2026 Fortune Global 500, along with their revenue and percentage change to annual revenue:
1. UnitedHealth Group (No. 4 on Fortune Global 500)
2025 revenue: $447.57 billion
Change to revenue: 11.8%
2. McKesson (No. 7 on Fortune Global 500)
2025 revenue: $403.43 billion
Change to revenue: 12.4%
3. CVS Health (No. 9 on Fortune Global 500)
2025 revenue: $402.07 billion
Change to revenue: 7.9%
4. Cencora (No. 16 on Fortune Global 500)
2025 revenue: $321.33 billion
Change to revenue: 9.3%
5. Cigna Group (No. 21 on Fortune Global 500)
2025 revenue: $274.90 billion
Change to revenue: 11.2%
6. Cardinal Health (No. 27 on Fortune Global 500)
2025 revenue: $222.58 billion
Change to revenue: -1.9%
7. Elevance Health (No. 31 on Fortune Global 500)
2025 revenue: $199.13 billion
Change to revenue: 12.5%
8. Centene (No. 32 on Fortune Global 500)
2025 revenue: $194.78 billion
Change to revenue: 19.4%
9. Humana (No. 73 on Fortune Global 500)
2025 revenue: $129.66 billion
Change to revenue: 10.1%
10. Johnson & Johnson (No. 120 on Fortune Global 500)
2025 revenue: $94.19 billion
Change to revenue: 6.1%
11. Sinopharm (No. 129 on Fortune Global 500)
2025 revenue: $89.35 billion
Change to revenue: -2.3%
12. Roche Group (No. 176 on Fortune Global 500)
2025 revenue: $76.27 billion
Change to revenue: 7.6%
13. HCA Healthcare (No. 178 on Fortune Global 500)
2025 revenue: $75.60 billion
Change to revenue: 7.1%
14. Eli Lilly (No. 224 on Fortune Global 500)
2025 revenue: $65.18 billion
Change to revenue: 44.7%
15. Merck (No. 225 on Fortune Global 500)
2025 revenue: $65.01 billion
Change to revenue: 1.3%
16. Pfizer (No. 240 on Fortune Global 500)
2025 revenue: $62.58 billion
Change to revenue: -1.7%
17. AbbVie (No. 246 on Fortune Global 500)
2025 revenue: $61.16 billion
Change to revenue: 8.6%
18. AstraZeneca (No. 262 on Fortune Global 500)
2025 revenue: $58.74 billion
Change to revenue: 8.6%
19. Novartis (No. 267 on Fortune Global 500)
2025 revenue: $56.67 billion
Change to revenue: 9.6%
20. Sanofi (No. 279 on Fortune Global 500)
2025 revenue: $54.65 billion
Change to revenue: 2.5%
21. Bayer (No. 304 on Fortune Global 500)
2025 revenue: $51.40 billion
Change to revenue: 2.0%
22. Bristol-Myers Squibb (No. 328 on Fortune Global 500)
2025 revenue: $48.19 billion
Change to revenue: -0.2%
23. Novo Nordisk (No. 333 on Fortune Global 500)
2025 revenue: $46.71 billion
Change to revenue: 10.9%
24. Molina Healthcare (No. 347 on Fortune Global 500)
2025 revenue: $45.43 billion
Change to revenue: 11.8%
25. Thermo Fisher Scientific (No. 356 on Fortune Global 500)
2025 revenue: $44.56 billion
Change to revenue: 3.9%
26. Abbott Laboratories (No. 358 on Fortune Global 500)
2025 revenue: $44.33 billion
Change to revenue: 5.7%
27. GSK (No. 370 on Fortune Global 500)
2025 revenue: $43.03 billion
Change to revenue: 7.3%
28. Shanghai Pharmaceuticals Holding (No. 411 on Fortune Global 500)
2025 revenue: $39.45 billion
Change to revenue: 3.1%
29. Amgen (No. 454 on Fortune Global 500)
2025 revenue: $36.75 billion
Change to revenue: 10.0%
30. Guangzhou Pharmaceutical Holdings (No. 467 on Fortune Global 500)
2025 revenue: $35.51 billion
Change to revenue: 1.0%
31. Medtronic (No. 496 on Fortune Global 500)
2025 revenue: $33.54 billion
Change to revenue: 3.6%
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