In this article, we will be taking a look at the 25 Biggest Florida Companies and Stocks. To skip our detailed analysis, you can go directly to see the 5 Biggest Florida Companies and Stocks.
If all U.S. states were countries, Florida would be the 18th biggest economy in the entire world, bigger than the Netherlands, Indonesia (the largest Muslim country in the world), Saudi Arabia and Switzerland. Florida is home to several major industries which contributed to a GDP of nearly $1.3 trillion in 2021 including tourism, agriculture, construction, international banking, healthcare, and aerospace and defense. In the U.S., it is the fourth largest state by GDP, behind only California, Texas and New York and contributes more than 5% of the U.S.'s total GDP. It is also among the biggest exporter of goods in the U.S. and also among the biggest importers of trade goods. Of all the metropolitan areas in the state, the Miami Metropolitan Area is by far the biggest, more than double that of the next biggest metropolitan area.
25 biggest Florida companies and stocks
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Even though Florida was particularly hard hit by the Covid-19 pandemic, mainly due to governmental policies which tried to avoid lockdowns as far, it does seem that the policy worked to an extent as Florida is among the states with the lowest unemployment rates in 2022, showing a successful reemergence from the Covid-19 pandemic. In November 2022, Florida's unemployment rate was just 2.6%, having gained 428,200 jobs or 4.7% compared to the previous year. This may change as widespread layoffs are expected in the state in 2023 from various industries because of an economic slowdown.
Tourism is an extremely important part of Florida's GDP with around 40 million visitors each year and in 2019, the tourism industry contributed $96 billion to the state's GDP. When the pandemic struck, tourism was one of the worst impacted industries and the state saw the number of tourists fall by 70% from the previous year, which had a major impact on Florida's GDP in 2020 and 2021. In 2022, as the world has mostly returned to pre-pandemic policies, tourism has improved significantly as well and registered an increase of 39.4% from the previous year, which bodes well for Florida's future. However, this has to be balanced with major economic headwinds as a result of high inflation and interest rates, while a recession is imminent.
Headed by a Republican government, Florida's laws and regulations are quite welcoming to corporations and the state provides a ton of incentives to businesses starting or relocating there. From corporate headquarters to manufacturing plants and service firms, offers various statewide incentives which include capital investment tax credit, high impact performance incentive grant and various tax exemptions for high impact sectors, machinery and equipment, clean energy and aviation among others, which have proven to be quite important for the biggest Florida companies and stocks.
The biggest Florida companies and stocks belong to various industries, with the 25 largest companies having a total market cap of around $145 billion, while the total sales by these companies are nearly $228 billion. To determine these companies, we initially selected the 25 largest companies headquartered in Florida based on their revenue from Fortune 500. We then determined their market cap from Yahoo Finance. We assigned 60% weightage to revenue and 40% weightage to market cap. In 2021, the average stock price return of these 25 companies was -5.7%. Please keep in mind that even though Disney has a large presence in Florida, it is headquartered in California which is why it isn't included in our list. So, let's take a look at the biggest companies in Florida, starting with:
The GEO Group, Inc. (NYSE:GEO) invests in and owns private prisons and mental health facilities with a presence in four continents. Currently, The GEO Group, Inc. (NYSE:GEO) owns or manages more than 86,000 rooms in over 100 facilities. The GEO Group, Inc. (NYSE:GEO) has had an incredible year, with its market cap rising by 39.4%.
Hilton Grand Vacations Inc. (NYSE:HGV) is a timeshare company and while headquartered in Florida, has offices in several states in the country. Currently, Hilton Grand Vacations Inc. (NYSE:HGV) has a presence in more than 5 countries and owns thousands of room across dozens of properties. In the last year, Hilton Grand Vacations Inc. (NYSE:HGV) saw its share price decline by 20.2%.
Element Solutions Inc (NYSE:ESI) is the largest chemicals production company in Florida. Despite a share price decline of 20.5% in the last year, Element Solutions Inc (NYSE:ESI) has seen its market price increase by 63% in the last five years, rewarding long-term investors.
Dycom Industries, Inc. (NYSE:DY) provides skilled people to the telecommunications industry which are integral to an important sector. In the last year, Dycom Industries, Inc. (NYSE:DY) saw its stock value increase by 7%.
Dun & Bradstreet Holdings, Inc. (NYSE:DNB) is an analytics and insights company which provides its services to other businesses. Despite Dun & Bradstreet Holdings, Inc. (NYSE:DNB) reinvesting in its business, returns have been falling which has led to its share price falling by 36.2%.
Florida has its share of timeshare companies, no pun intended and Travel + Leisure Co. (NYSE:TNL) is one of the biggest Florida companies and stocks. Travel + Leisure Co. (NYSE:TNL) has struggled to regain its footing after the Covid-19 pandemic which has contributed to its share price declining by 31% in the last one year.
One of the biggest airlines in the U.S., Spirit Airlines, Inc. (NYSE:SAVE) is an ultra low-cost carrier. Because of operational concerns, Spirit Airlines, Inc. (NYSE:SAVE) has struggled to ensure its planes continue to fly on schedule which has led to Spirit Airlines, Inc.'s (NYSE:SAVE) share price declining by 14.1% in the last year.
18. Citrix Systems
Total revenue (in billions): $3.2
Market cap as at 6th Jan 2022 (in billions): $N/A
Citrix Systems is a cloud computing and virtual technology company which is the biggest of its kind in Florida.
Bloomin' Brands, Inc. (NASDAQ:BLMN) is a relatively unknown companies but the restaurants it owns are quite famous including Outback Steakhouse, Bonefish Grill and Steakhouse & Wine Bar. Bloomin' Brands, Inc. (NASDAQ:BLMN) saw its stock price improve by 6.2% in the last one year.
Affiliated Managers Group, Inc. (NYSE:AMG) is an investment management company maintaining its headquarters in West Palm Beach. Despite 2022 proving to be a terrible year for investment management companies, Affiliated Managers Group, Inc. (NYSE:AMG) has managed to buck the trend with its stock value rising by 5.8%.
TopBuild Corp. (NYSE:BLD) is an installer and distributor of building material products and insulation. TopBuild Corp. (NYSE:BLD) claims to have the largest salesforce in the entire industry while employing 8,000 installers among 10,000 employees. In the last year, TopBuild Corp. (NYSE:BLD) saw its share price decline by 29.7%.
Marriott Vacations Worldwide Corporation (NYSE:VAC) used to be a division of Marriott International, and is a timeshare company. Currently, Marriott Vacations Worldwide Corporation (NYSE:VAC) owns over 70 resorts and has more than 400,000 owners and members across the world. In the past year, Marriott Vacations Worldwide Corporation (NYSE:VAC) saw its stock value decline by 15%.
The ODP Corporation (NASDAQ:ODP) is an office supply company and has close to 40,000 employees. Across the U.S., The ODP Corporation (NASDAQ:ODP) currently operates 1,400 retail stores. In the past year, The ODP Corporation (NASDAQ:ODP) saw its share price increase by 16.13%.
The third largest car rental company in the world, Hertz Global Holdings, Inc. (NASDAQ:HTZ) has over half a million cars in their fleet. In 2021, Hertz Global Holdings, Inc. (NASDAQ:HTZ) purchased over 100,000 Tesla, Inc. (NASDAQ:TSLA) cars for its fleet. In the past year, Hertz Global Holdings, Inc. (NASDAQ:HTZ) has seen its stock value decline by a third.
ADT Inc. (NYSE:ADT) provides electronic security services which are available not just to consumers but businesses as well. In addition, ADT Inc. (NYSE:ADT) also provides fire protection and was purchased 6 years ago by Apollo Global Management for $6.9 billion. ADT Inc. (NYSE:ADT) has had an excellent year, with its share price rising by almost 24%.
Landstar System, Inc. (NASDAQ:LSTR) is a transportation company which is counted among the biggest Florida companies and stocks. Utilizing a network of 11,000 independent owner operators, Landstar System, Inc.'s (NASDAQ:LSTR) services are provided in most of the United States in addition to some other countries. In the last year, Landstar System, Inc. (NASDAQ:LSTR) saw its share price increase by 4.4%.
Ryder System, Inc. (NYSE:R) is a logistics and transportation company which provides various services including fleet management, transportation management and supply chain management. In addition to the U.S., Ryder System, Inc. (NYSE:R) also has operations in the UK. One of the few profitable companies in the top 10 biggest Florida companies and stocks. Ryder System, Inc. (NYSE:R) gained 8.8% in market cap in the last year,
World Fuel Services Corporation (NYSE:INT) is an energy and commodity company headquartered in Doral. While World Fuel Services Corporation (NYSE:INT) has seen its revenue decline for a 2018 high of nearly $40 billion, World Fuel Services Corporation (NYSE:INT) has still only declined by 4.75% in the previous year.
Market cap as at 6th Jan 2022 (in billions): $10.2
The biggest distributor of air conditioning, heating and refrigeration equipment in the U.S., Watsco, Inc. (NYSE:WSO) is among the biggest Florida companies and stocks. Currently Watsco, Inc. (NYSE:WSO) has more than 7,000 employees and has close to 700 locations across the country. In the past year, Watsco, Inc. (NYSE:WSO) saw its share price decline by 10.5%.
MasTec, Inc. (NYSE:MTZ) is an engineering and construction company whose main customers include the government, communications industry and the utility industry. MasTec, Inc. (NYSE:MTZ) is also considered to be the second largest Hispanic owned company in the U.S. In the past year, MasTec, Inc. (NYSE:MTZ) has maintained its value.
