Ernst & Young is not ranked in the Fortune 500. EY should be ranked in the Fortune 500 in 2023.
All of the big 4 public accounting firms should be ranked in the Fortune 500 because they make billions of dollars. All of the large public accounting firms earn more than $20 billion dollars of revenue per year. For comparison sakes, the 500th company on the Fortune 500 list only makes about $5 billion in revenue per year. First on the list is Walmart with well over $400 billion in revenues for their last fiscal year.
That means that the smallest big 4 firm makes 4 times what they make.
EY is a large private company in the United States, so they should be on the list. There is really nothing preventing them from being on the list other than that they aren’t public companies.
Maybe they don’t have enough revenue to be on the list? That can’t be true because they have more than enough revenue to be on the list as we discussed above.
Let’s take a look at Ernst and Young’s latest fiscal year revenues to understand where they might land.
As of their last global financial report, EY earned 2016 revenues of $29.6 billion internationally.
Let’s trace back to the Fortune 500 list to see where that amount of revenue might land.
If you take a look at the Fortune 500 rankings, it appears that Ernst and Young would land between an electric holding company and a well-known snack industry company. They would be between Exelon and Mondelez. Mondelez is most well-known for their most popular snack which is the oreo.
That shows that the largest accounting firms in the world deserve to be on this list.
Mondelez made $29.64 billion in revenue for their latest fiscal year. Exelon earned about $29.44 billion in revenue, so we could say that EY would be above Exelon.
Since EY would replace Exelon in this ranking that means that EY would earn a ranking of 95 on the Fortune 500.
That is not too shabby because it puts them in the Top 100 of companies in the Fortune 500. That is the top 20% of all earnings of major corporations which is not too bad.