Merrill Lynch Ranks No. 22 on the 2007 Fortune 500
The New York, NY-based company was ranked No. 34 on the 2006 list. Its 2006 revenues were up 47.7 percent from the previous year; profits were up 46.6 percent from the previous year.
Other companies in the Securities sector on this year's Fortune 500 include: Morgan Stanley (MS (Charts, Fortune 500)) ranked No. 20; Goldman Sachs Group (GS (Charts, Fortune 500)) ranked No. 24; Lehman Brothers Holdings (LEH (Charts, Fortune 500)) ranked No. 47; Bear Stearns (BSC (Charts, Fortune 500)) ranked No. 138 and Charles Schwab (SCHW (Charts, Fortune 500)) ranked No. 389.
Last year, Fortune 500 firms, which cover a large swath of the U.S. economy including 31 non-public companies, earned a record $785 billion, up 29 percent from 2005. "Put simply, American companies are enjoying the most sumptuously profitable period in the 500's 53-year history," said Shawn Tully, Fortune's editor at large. "Virtually every conceivable force, from mild labor costs to a falling dollar to soaring productivity, has favored big companies."
The Fortune 500 ranks companies based on revenues. New York boasts the most Fortune 500 firms this year with 57 companies, while Texas and California took the No. 2 and 3 spots, with 45 and 22 headquarters respectively.
See Merrill Lynch's Fortune 500 details, including financial stats and contact information.
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