The Most Profitable Company in Every State
One really successful company can often have a ripple effect that spreads across a broader community. You might not think your line of work has much to do with what they’re doing over at that massive office complex across town, but odds are good that plenty of your own clients or customers come from there. Once you include the families of employees, the number of stakeholders that can grow up around the home to a massive multinational corporation can mean a positively enormous footprint. If you really want to understand your local economy, it’s a good bet that your best starting point is the company that’s doing the most business — even if most of it’s elsewhere.
Looking at the Fortune 1000 — the list of the top 1,000 companies by total revenue compiled by the famed financial publication — GOBankingRates identified the most profitable company in each state. Seven states didn’t make the list — Alaska, Montana, New Mexico, South Dakota, Vermont, West Virginia and Wyoming — as none of them had a Fortune 1000 company headquartered in state. Hopefully, that serves as motivation for any ambitious young entrepreneurs living in those areas. And for everyone else, here’s a closer look at what business is currently making your state tick.
Mississippi
Company name: Sanderson Farms
2018 profits: $61.40 million
Headquarters location: Laurel
Sector: Food, beverages and tobacco
Industry: Food production
CEO: Joe F. Sanderson, Jr.
Number of employees: 15,104
2018 revenue: $3.24 billion
Year-over-year revenue change: -3.20%
Year-over-year profit change: -78.00%
New Hampshire
Company name: Sprague Resources
2018 profits: $79.80 million
Headquarters location: Portsmouth
Sector: Wholesalers
Industry: Wholesalers – diversified
CEO: David C. Glendon
Number of employees: 901
2018 revenue: $3.77 billion
Year-over-year revenue change: 32.10%
Year-over-year profit change: 170.60%
See: The Most-Loved Companies in Every State
Hawaii
Company name: Hawaiian Holdings
2018 profits: $233.20 million
Headquarters location: Honolulu
Sector: Transportation
Industry: Airlines
CEO: Peter R. Ingram
Number of employees: 7,244
2018 revenue: $2.84 billion
Year-over-year revenue change: 5.30%
Year-over-year profit change: -35.90%
North Dakota
Company name: MDU Resources Group
2018 profits: $272.30 million
Headquarters location: Bismarck
Sector: Energy
Industry: Energy
CEO: David L. Goodin
Number of employees: 11,797
2018 revenue: $4.53 billion
Year-over-year revenue change: 2.00%
Year-over-year profit change: -3.20%
South Carolina
Company name: Sonoco Products
2018 profits: $313.60 million
Headquarters location: Hartsville
Sector: Materials
Industry: Packaging, containers
CEO: Robert C. Tiede
Number of employees: 23,000
2018 revenue: $5.39 billion
Year-over-year revenue change: 7.00%
Year-over-year profit change: 78.80%
Maine
Company name: IDEXX Laboratories
2018 profits: $377 million
Headquarters location: Westbrook
Sector: Healthcare
Industry: Medical products and equipment
CEO: Jay Mazelsky
Number of employees: 8,377
2018 revenue: $2.21 billion
Year-over-year revenue change: 12.40%
Year-over-year profit change: 43.30%
Kansas
Company name: Spirit AeroSystems Holdings
2018 profits: $617 million
Headquarters location: Wichita
Sector: Aerospace and defense
Industry: Aerospace and defense
CEO: Thomas C. Gentile III
Number of employees: 17,000
2018 revenue: $7.22 billion
Year-over-year revenue change: 3.40%
Year-over-year profit change: 73.90%
Louisiana
Company name: Entergy
2018 profits: $848.70 million
Headquarters location: New Orleans
Sector: Energy
Industry: Utilities – gas and electric
CEO: Leo P. Denault
Number of employees: 13,688
2018 revenue: $11.01 billion
Year-over-year revenue change: -0.60%
Year-over-year profit change: 106.20%
Utah
Company name: Zions Bancorp.
2018 profits: $884 million
Headquarters location: Salt Lake City
Sector: Financials
Industry: Commercial banks
CEO: Harris H. Simmons
Number of employees: 10,201
2018 revenue: $3.03 billion
Year-over-year revenue change: 10.90%
Year-over-year profit change: 49.30%
Wisconsin
Company name: Fiserv
2018 profits: $1.19 billion
Headquarters location: Brookfield
Sector: Business services
Industry: Financial data services
CEO: Jeffery W. Yabuki
Number of employees: 24,000
2018 revenue: $5.82 billion
Year-over-year revenue change: 2.20%
Year-over-year profit change: -4.70%
Iowa
Company name: Principal Financial
2018 profits: $1.55 billion
Headquarters location: Des Moines
Sector: Financials
Industry: Insurance – life, health (stock)
CEO: Daniel J. Houston
Number of employees: 16,475
2018 revenue: $14.24 billion
Year-over-year revenue change: 1.00%
Year-over-year profit change: -33.10%
Colorado
Company name: DISH Network
2018 profits: $1.58 billion
Headquarters location: Englewood
Sector: Telecommunications
Industry: Telecommunications
CEO: W. Erik Carlson
Number of employees: 16,000
2018 revenue: $13.62 billion
Year-over-year revenue change: -5.40%
Year-over-year profit change: -24.90%
Kentucky
Company name: Humana
2018 profits: $1.68 billion
Headquarters location: Louisville
Sector: Healthcare
Industry: Healthcare – insurance and managed care
CEO: Bruce D. Broussard
Number of employees: 41,600
2018 revenue: $56.91 billion
Year-over-year revenue change: 5.80%
Year-over-year profit change: -31.30%
Rhode Island
Company name: Citizens Financial Group
2018 profits: $1.72 billion
Headquarters location: Providence
Sector: Financials
Industry: Commercial banks
CEO: Bruce W. Van Saun
Number of employees: 18,140
2018 revenue: $7.35 billion
Year-over-year revenue change: 13.90%
Year-over-year profit change: 4.20%
Read More: The Most Valuable Public Company in Every State
Alabama
Company name: Regions Financial
2018 profits: $1.76 billion
Headquarters location: Birmingham
Sector: Financials
Industry: Commercial banks
CEO: John M. Turner
Number of employees: 19,969
2018 revenue: $6.76 billion
Year-over-year revenue change: 11.00%
Year-over-year profit change: 39.30%
Oregon
Company name: Nike
2018 profits: $1.93 billion
Headquarters location: Beaverton
Sector: Apparel
Industry: Apparel
CEO: John J. Donahoe II
Number of employees: 73,100
2018 revenue: $36.40 billion
Year-over-year revenue change: 6.00%
Year-over-year profit change: -54.40%
Missouri
Company name: Emerson Electric
2018 profits: $2.20 billion
Headquarters location: St. Louis
Sector: Industrials
Industry: Industrial machinery
CEO: David N. Farr
Number of employees: 87,500
2018 revenue: $17.41 billion
Year-over-year revenue change: 6.80%
Year-over-year profit change: 45.10%
Nevada
Company name: Las Vegas Sands
2018 profits: $2.41 billion
Headquarters location: Las Vegas
Sector: Hotels, restaurants and leisure
Industry: Hotels, casinos, resorts
CEO: Sheldon G. Adelson
Number of employees: 51,500
2018 revenue: $13.73 billion
Year-over-year revenue change: 6.60%
Year-over-year profit change: -14.00%
Arizona
Company name: Freeport-McMoRan
2018 profits: $2.60 billion
Headquarters location: Phoenix
Sector: Energy
Industry: Mining, crude oil production
CEO: Richard C. Adkerson
Number of employees: 26,800
2018 revenue: $18.63 billion
Year-over-year revenue change: 13.50%
Year-over-year profit change: 43.20%
Oklahoma
Company name: Devon Energy
2018 profits: $3.06 billion
Headquarters location: Oklahoma City
Sector: Energy
Industry: Mining, crude oil production
CEO: David A. Hager
Number of employees: 2,880
2018 revenue: $10.73 billion
Year-over-year revenue change: -23.00%
Year-over-year profit change: 241.20%
Indiana
Company name: Anthem
2018 profits: $3.75 billion
Headquarters location: Indianapolis
Sector: Healthcare
Industry: Healthcare – insurance and managed care
CEO: Gail K. Boudreaux
Number of employees: 63,900
2018 revenue: $92.11 billion
Year-over-year revenue change: 2.30%
Year-over-year profit change: -2.40%
Delaware
Company name: DuPont de Nemours
2018 profits: $3.84 billion
Headquarters location: Wilmington
Sector: Chemicals
Industry: Chemicals
CEO: Marc Doyle
Number of employees: 98,000
2018 revenue: $85.98 billion
Year-over-year revenue change: 37.20%
Year-over-year profit change: 163.30%
Massachusetts
Company name: Biogen
2018 profits: $4.43 billion
Headquarters location: Cambridge
Sector: Healthcare
Industry: Pharmaceuticals
CEO: Michel Vounatsos
Number of employees: 7,800
2018 revenue: $13.45 billion
Year-over-year revenue change: 9.60%
Year-over-year profit change: 74.50%
Tennessee
Company name: FedEx
2018 profits: $4.57 billion
Headquarters location: Memphis
Sector: Transportation
Industry: Mail, package and freight delivery
CEO: Frederick W. Smith
Number of employees: 359,000
2018 revenue: $65.45 billion
Year-over-year revenue change: 8.50%
Year-over-year profit change: 52.60%
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Maryland
Company name: Lockheed Martin
2018 profits: $5.05 billion
Headquarters location: Bethesda
Sector: Aerospace and defense
Industry: Aerospace and defense
CEO: Marillyn A. Hewson
Number of employees: 105,000
2018 revenue: $53.76 billion
Year-over-year revenue change: 5.30%
Year-over-year profit change: 152.00%
Connecticut
Company name: United Technologies
2018 profits: $5.27 billion
Headquarters location: Farmington
Sector: Aerospace and defense
Industry: Aerospace and defense
CEO: Gregory J. Hayes
Number of employees: 240,200
2018 revenue: $66.50 billion
Year-over-year revenue change: 11.10%
Year-over-year profit change: 15.80%
Nebraska
Company name: Union Pacific
2018 profits: $5.97 billion
Headquarters location: Omaha
Sector: Transportation
Industry: Railroads
CEO: Lance M. Fritz
Number of employees: 41,967
2018 revenue: $22.83 billion
Year-over-year revenue change: 7.50%
Year-over-year profit change: -44.30%
Florida
Company name: NextEra Energy
2018 profits: $6.64 billion
Headquarters location: Juno Beach
Sector: Energy
Industry: Utilities – gas and electric
CEO: James L. Robo
Number of employees: 14,300
2018 revenue: $16.73 billion
Year-over-year revenue change: -2.70%
Year-over-year profit change: 23.40%
Arkansas
Company name: Walmart
2018 profits: $6.67 billion
Headquarters location: Bentonville
Sector: Retailing
Industry: General merchandisers
CEO: C. Douglas McMillon
Number of employees: 2,200,000
2018 revenue: $514.41 billion
Year-over-year revenue change: 2.80%
Year-over-year profit change: -32.40%
Michigan
Company name: General Motors
2018 profits: $8.01 billion
Headquarters location: Detroit
Sector: Motor vehicles and parts
Industry: Motor vehicles and parts
CEO: Mary T. Barra
Number of employees: 173,000
2018 revenue: $147.05 billion
Year-over-year revenue change: -6.50%
Year-over-year profit change: N/A
Virginia
Company name: Freddie Mac
2018 profits: $9.24 billion
Headquarters location: McLean
Sector: Financials
Industry: Diversified financials
CEO: Donald H. Layton
Number of employees: 6,621
2018 revenue: $73.60 billion
Year-over-year revenue change: -1.40%
Year-over-year profit change: 64.20%
Ohio
Company name: Procter & Gamble
2018 profits: $9.75 billion
Headquarters location: Cincinnati
Sector: Household products
Industry: Household and personal products
CEO: David S. Taylor
Number of employees: 92,000
2018 revenue: $66.83 billion
Year-over-year revenue change: 0.90%
Year-over-year profit change: -36.40%
Illinois
Company name: Boeing
2018 profits: $10.46 billion
Headquarters location: Chicago
Sector: Aerospace and defense
Industry: Aerospace and defense
CEO: David L. Calhoun
Number of employees: 153,000
2018 revenue: $101.13 billion
Year-over-year revenue change: 8.30%
Year-over-year profit change: 27.60%
Georgia
Company name: Home Depot
2018 profits: $11.12 billion
Headquarters location: Atlanta
Sector: Retailing
Industry: Specialty retailers – other
CEO: Craig A. Menear
Number of employees: 413,000
2018 revenue: $108.20 billion
Year-over-year revenue change: 7.20%
Year-over-year profit change: 28.90%
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Pennsylvania
Company name: Comcast
2018 profits: $11.73 billion
Headquarters location: Philadelphia
Sector: Telecommunications
Industry: Telecommunications
CEO: Brian L. Roberts
Number of employees: 184,000
2018 revenue: $94.51 billion
Year-over-year revenue change: 11.80%
Year-over-year profit change: -48.40%
Minnesota
Company name: UnitedHealth Group
2018 profits: $11.99 billion
Headquarters location: Minnetonka
Sector: Healthcare
Industry: Healthcare – insurance and managed care
CEO: David S. Wichmann
Number of employees: 300,000
2018 revenue: $226.25 billion
Year-over-year revenue change: 12.50%
Year-over-year profit change: 13.50%
Idaho
Company name: Micron Technology
2018 profits: $14.14 billion
Headquarters location: Boise
Sector: Technology
Industry: Semiconductors and other electronic components
CEO: Sanjay Mehrotra
Number of employees: 36,000
2018 revenue: $30.39 billion
Year-over-year revenue change: 49.50%
Year-over-year profit change: 177.80%
New Jersey
Company name: Johnson & Johnson
2018 profits: $15.30 billion
Headquarters location: New Brunswick
Sector: Healthcare
Industry: Pharmaceuticals
CEO: Alex Gorsky
Number of employees: 135,100
2018 revenue: $81.58 billion
Year-over-year revenue change: 6.70%
Year-over-year profit change: 1,076.70%
Washington
Company name: Microsoft
2018 profits: $16.57 billion
Headquarters location: Redmond
Sector: Technology
Industry: Computer software
CEO: Satya Nadella
Number of employees: 131,000
2018 revenue: $110.36 billion
Year-over-year revenue change: 22.70%
Year-over-year profit change: -21.80%
Texas
Company name: Exxon Mobil
2018 profits: $20.84 billion
Headquarters location: Irving
Sector: Energy
Industry: Petroleum refining
CEO: Darren W. Woods
Number of employees: 71,000
2018 revenue: $290.21 billion
Year-over-year revenue change: 18.80%
Year-over-year profit change: 5.70%
North Carolina
Company name: Bank of America
2018 profits: $28.15 billion
Headquarters location: Charlotte
Sector: Financials
Industry: Commercial banks
CEO: Brian T. Moynihan
Number of employees: 204,489
2018 revenue: $110.58 billion
Year-over-year revenue change: 10.30%
Year-over-year profit change: 54.40%
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New York
Company name: JPMorgan Chase
2018 profits: $32.47 billion
Headquarters location: New York
Sector: Financials
Industry: Commercial banks
CEO: James Dimon
Number of employees: 256,105
2018 revenue: $131.41 billion
Year-over-year revenue change: 15.40%
Year-over-year profit change: 32.90%
California
Company name: Apple
2018 profits: $59.53 billion
Headquarters location: Cupertino
Sector: Technology
Industry: Computers, office equipment
CEO: Timothy D. Cook
Number of employees: 132,000
2018 revenue: $265.60 billion
Year-over-year revenue change: 15.90%
Year-over-year profit change: 23.10%
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Methodology: GOBankingRates determined the most profitable company in every state by analyzing the 2019 Fortune 1000 in terms of 2018 profits for a company headquartered in each state. While the 2018 profits were the only ranking and determining factor, GOBankingRates also found each company’s 2018 revenue, year-over-year percent change for both profits and revenue, number of employees, CEO name and Fortune 2019 rank, all as supplemental data. All data was compiled and is up to date as of Feb. 24, 2020. Alaska, Montana, New Mexico, South Dakota, Vermont, West Virginia and Wyoming did not have a company on the Fortune rankings and thus were not included in the gallery.
This article originally appeared on GOBankingRates.com: The Most Profitable Company in Every State