TEMPO.CO, Jakarta - PT PLN (Persero) has made it into the Fortune Global 500, ranking 469th among the world’s largest companies. The state-owned electricity provider claims it is the only utility company from Southeast Asia to appear on the list, which is based on total annual revenue.
What Is the Fortune 500?
According to Investopedia, Fortune Magazine began publishing the list of the largest U.S. companies in 1955. Initially, it only covered industrial sectors such as manufacturing, mining, and energy. The ranking is based on annual revenue, not profit.
In its early editions, well-known companies like General Motors and US Steel dominated the list. General Motors was the top company in 1955, reporting revenue of US$9.8 billion.
Even the lowest-ranked company that year had revenue of US$49.7 million, which was a substantial amount at the time.
In 1995, Fortune expanded its methodology to include service industries, allowing companies in retail, finance, and technology to qualify.
This change opened the door for firms like Walmart, Apple, and Amazon to rise to the top. Walmart held the number one spot for 12 consecutive years up to 2024, with revenue reaching US$648 billion.
Criteria for Fortune 500 Inclusion
To be listed in the Fortune 500, a company must meet several requirements:
It must be a for-profit enterprise.
It must operate and be based in the United States for the domestic list, or internationally for the Fortune Global 500.
It must file annual financial statements with regulatory bodies, such as a 10-K report in the U.S. or an equivalent.
Both public and private companies are eligible if they disclose financials.
The company must be among the 500 with the highest annual revenue.
According to the Corporate Finance Institute, inclusion in the Fortune 500 not only reflects revenue but also a company’s prominence and reputation in its sector.
PLN’s Performance
PLN reported revenue of Rp545.4 trillion in 2024, marking an 11.9 percent increase compared to the previous year. PLN’s President Director, Darmawan Prasodjo, attributed the milestone to the company’s ongoing transformation.
He said this includes digital innovations, improved governance, and expanded services throughout Indonesia.
Geni Al Aziz contributed to the writing of this article.
Editor's Choice: Indonesia and U.S. Plan Joint Oil Refinery Investment
Click here to get the latest news updates from Tempo on Google News
Why iPhone Prices Stay High in Indonesia Despite Tariff Removal
1 hari lalu
Despite the promising-sounding 0% import duty policy, iPhone prices have remained high. So, what exactly is preventing a drop in iPhone prices?
Minister Airlangga Reveals U.S. Key Investment Commitments in Indonesia
6 hari lalu
Airlangga said these investment commitments are expected to help maintain a balanced trade relationship between Indonesia and the U.S.
Apple Sues Leaker Over Theft of iOS 26 Trade Secrets
9 hari lalu
Apple seeks damages and a court order prohibiting Jon Prosser from disclosing Apple's trade secrets in the future.
iPhone 17 Air Rumored to Feature Titanium Frame, Unlike Pro Model
12 hari lalu
The iPhone 17 Air is the only new model this year that uses titanium.
Government Optimistic About Continued Apple Investment in Indonesia
13 hari lalu
The Indonesian Ministry of Investment and Downstream Industry said Apple has purchased land in Batam for investment plans.
Apple Rumored to Release iPhone 17e in Early 2026
18 hari lalu
Apple's iPhone 17e is anticipated to be the successor to the iPhone 16e, which made its debut in February 2025.
Top 10 Biggest Brands in the World 2025: Who's Worth the Most This Year?
21 hari lalu
Apple, Walmart, and Facebook are among the biggest brands in the world, valued ranging from tens of billions to over half a trillion dollars in 2025.
Apple's Latest News: Foldable iPhone Enters Prototype Testing Phase
25 hari lalu
There are three prototype testing phases, plus a technical verification phase, that must be passed before the release of the foldable iPhone in 2026.
Over 60 Companies Profit from Palestinian Genocide by Israel, Says UN Rapporteur
28 hari lalu
UN Special Rapporteur urges companies to sever ties with Israel and be held accountable for profiting from various crimes including illegal occupation, apartheid, and genocide in occupied Palestinian territory.
These Are the 7 Best Places to See Wildlife in the World
29 hari lalu
For every nature enthusiast, visiting the best places to see wildlife almost feels like a dream come true. Read on to discover some of them.
