Houston companies stand out in Fortune 500

• Of note: Texas has the most Fortune 500 companies for the second year in a row, totaling $2.6 trillion in revenue and $226.5 billion in profit.

Zoom in: Houston — the "energy capital of the world" — has 17 of the state's energy companies on the list, including Phillips 66, which had $175.7 billion in revenue last year.

Between the lines: The state's low cost of living, favorable regulatory environment with no corporate or individual state income tax, and growing pool of tech talent is reportedly why Texas has the most Fortune 500 companies.

What's next: Exxon Mobil Corp., ranked third on the national list, had $413.7 billion in revenue in 2022. Soon the energy giant will be counted under Houston as it's relocating from Irving to the Bayou City this year.

Here are Houston's top five companies and their places on the list:

• Phillips 66 (17)
• ConocoPhillips (49)
• Sysco (56)
• Enterprise Products Partners (72)
• Plains GP Holdings (74)

Zoom out: Nationally, Walmart remained in the top spot for the 11th year in a row, with Amazon close behind at No. 2.