Freddie Mac Ranks No. 50 on the 2007 Fortune 500

NEW YORK (Fortune) -- Freddie Mac (FRE (Charts, Fortune 500)) ranks no. 50 on FORTUNE's list of America's largest corporations.

The McLean, VA-based company was ranked No. on the 2006 list. Its 2006 revenues were up 20.5 percent from the previous year; profits were up 3.8 percent from the previous year.

Full list: FORTUNE 1000 1. Wal-Mart 2. Exxon Mobil 3. General Motors 4. Chevron 5. ConocoPhillips 6. GE 7. Ford Motor 8. Citigroup 9. Bk. of America 10. AIG Top companies in your state Top-performing companies • Most profitable • Best investments • Fast growing • Big employers

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Other companies in the Diversified Financials sector on this year's Fortune 500 include: General Electric (GE (Charts, Fortune 500)) ranked No. 6; American Express (AXP (Charts, Fortune 500)) ranked No. 79; Countrywide Financial (CFC (Charts, Fortune 500)) ranked No. 91; Marsh & McLennan (MMC (Charts, Fortune 500)) ranked No. 207 and Aon (AOC (Charts, Fortune 500)) ranked No. 247.

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.