Connect with us

Markets

America’s Top Companies by Revenue (1994 vs. 2023)

Published

on

See this visualization first on the Voronoi app.

Graphic comparing America's top companies by revenue, in 1994 and 2023.

America’s Top Companies by Revenue (1994 vs. 2023)

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

A lot has changed since the 1990s, especially in the business world.

To highlight these changes, we’ve visualized the top 10 U.S. companies by revenue, in both 1994 and 2023. Figures for 1994 were sourced from the American Business History Center, while 2023 figures come from the latest Fortune 500 ranking.

Note that 1994 figures were not adjusted for inflation, but we’ll get to that further below.

Company (1994)Revenue ($B) Company (2023)Revenue ($B)
General Motors155Walmart611
Ford128Amazon514
Exxon102Exxon Mobil414
Walmart83Apple394
AT&T75UnitedHealth
Group
324
General Electric65CVS Health322
IBM64Berkshire
Hathaway
302
Mobil60Alphabet283
Sears55McKesson264
Philip Morris54Chevron246
Total841Total3,674

Based on this data, we can see that today’s top 10 list looks very different from what it used to.

Remembering the Nineties

Before Big Tech, the Big Three automakers dominated the American business landscape (Chrysler ranked 11th in 1994, just behind Philip Morris).

Speaking of Philip Morris, the company is now known as Altria following a major 2003 rebranding. The change was made due to the company’s diversification outside of tobacco.

Another big change that has occurred since 1994 is the merger of Exxon and Mobil, currently known as ExxonMobil. It’s interesting to note that ExxonMobil is just one of two companies still in the top 10 today (the other being Walmart).

Inflation-Adjusted Figures

Based on U.S. CPI data, the inflation rate from 1994 to 2023 is approximately 105.6%.

See below for the inflation adjusted revenue figures of 1994’s top 10 companies.

Company (1994)Revenue ($B)
(Inflation adjusted)
Company (2023)Revenue ($B)
General Motors319Walmart611
Ford263Amazon514
Exxon210Exxon Mobil414
Walmart171Apple394
AT&T154UnitedHealth
Group
324
General Electric134CVS Health322
IBM132Berkshire
Hathaway
302
Mobil123Alphabet283
Sears113McKesson264
Philip Morris111Chevron246
Total1,618Total3,674

Even after accounting for inflation, the biggest companies of 1994 are still far behind when it comes to revenue.

One interesting takeaway is Walmart’s growth over this roughly three-decade period. Not only is Walmart currently the world’s biggest company by revenue, it’s also America’s biggest employer.

Click for Comments

Markets

U.S. Debt Interest Payments Reach $1 Trillion

U.S. debt interest payments have surged past the $1 trillion dollar mark, amid high interest rates and an ever-expanding debt burden.

Published

on

This line chart shows U.S. debt interest payments over modern history.

U.S. Debt Interest Payments Reach $1 Trillion

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The cost of paying for America’s national debt crossed the $1 trillion dollar mark in 2023, driven by high interest rates and a record $34 trillion mountain of debt.

Over the last decade, U.S. debt interest payments have more than doubled amid vast government spending during the pandemic crisis. As debt payments continue to soar, the Congressional Budget Office (CBO) reported that debt servicing costs surpassed defense spending for the first time ever this year.

This graphic shows the sharp rise in U.S. debt payments, based on data from the Federal Reserve.

A $1 Trillion Interest Bill, and Growing

Below, we show how U.S. debt interest payments have risen at a faster pace than at another time in modern history:

DateInterest PaymentsU.S. National Debt
2023$1.0T$34.0T
2022$830B$31.4T
2021$612B$29.6T
2020$518B$27.7T
2019$564B$23.2T
2018$571B$22.0T
2017$493B$20.5T
2016$460B$20.0T
2015$435B$18.9T
2014$442B$18.1T
2013$425B$17.2T
2012$417B$16.4T
2011$433B$15.2T
2010$400B$14.0T
2009$354B$12.3T
2008$380B$10.7T
2007$414B$9.2T
2006$387B$8.7T
2005$355B$8.2T
2004$318B$7.6T
2003$294B$7.0T
2002$298B$6.4T
2001$318B$5.9T
2000$353B$5.7T
1999$353B$5.8T
1998$360B$5.6T
1997$368B$5.5T
1996$362B$5.3T
1995$357B$5.0T
1994$334B$4.8T
1993$311B$4.5T
1992$306B$4.2T
1991$308B$3.8T
1990$298B$3.4T
1989$275B$3.0T
1988$254B$2.7T
1987$240B$2.4T
1986$225B$2.2T
1985$219B$1.9T
1984$205B$1.7T
1983$176B$1.4T
1982$157B$1.2T
1981$142B$1.0T
1980$113B$930.2B
1979$96B$845.1B
1978$84B$789.2B
1977$69B$718.9B
1976$61B$653.5B
1975$55B$576.6B
1974$50B$492.7B
1973$45B$469.1B
1972$39B$448.5B
1971$36B$424.1B
1970$35B$389.2B
1969$30B$368.2B
1968$25B$358.0B
1967$23B$344.7B
1966$21B$329.3B

Interest payments represent seasonally adjusted annual rate at the end of Q4.

At current rates, the U.S. national debt is growing by a remarkable $1 trillion about every 100 days, equal to roughly $3.6 trillion per year.

As the national debt has ballooned, debt payments even exceeded Medicaid outlays in 2023—one of the government’s largest expenditures. On average, the U.S. spent more than $2 billion per day on interest costs last year. Going further, the U.S. government is projected to spend a historic $12.4 trillion on interest payments over the next decade, averaging about $37,100 per American.

Exacerbating matters is that the U.S. is running a steep deficit, which stood at $1.1 trillion for the first six months of fiscal 2024. This has accelerated due to the 43% increase in debt servicing costs along with a $31 billion dollar increase in defense spending from a year earlier. Additionally, a $30 billion increase in funding for the Federal Deposit Insurance Corporation in light of the regional banking crisis last year was a major contributor to the deficit increase.

Overall, the CBO forecasts that roughly 75% of the federal deficit’s increase will be due to interest costs by 2034.

Continue Reading
HIVE Digital Technologies

Subscribe

Popular