In this article, we will be taking a look at the top 20 women-owned companies in the US. To skip our detailed analysis, you can go directly to see the Top 5 Women-Owned Companies in the US.
The fact that women have only been able to vote since 1920 is astonishing. For the past approximately 100 years, ever since they have been allowed to vote, women have made great strides in other areas as well. This can be attributed in great part to the trailblazing women who shattered glass ceilings in all fields, including finance, and made things more equitable between the sexes.
However, they still have a long way to go because the gender wage gap is still present in the workplace. Based on a recent Pew Research Center analysis of median hourly earnings of both full and part-time workers, women earned 82% of what their male counterparts earned in 2022.
Such assistance has recently made a significant effect. Women are becoming a more significant part of the entrepreneurial ecosystem in the United States, where small enterprises are a key driver of economic growth. In the United States, women-owned businesses are responsible for around 10 million jobs and $1.9 trillion in annual sales, according to a recent study released by the U.S. Census Bureau. Furthermore, as of 2019, there are almost 13 million women-owned enterprises in the United States. According to the State of Women-Owned Businesses Report, the proportion of businesses owned by women of color climbed by 43% between 2014 to 2019.
However, in light of the fact that women run some of the smallest, most vulnerable enterprises globally, the COVID-19 pandemic has had a disproportionately negative impact on women-owned and operated businesses. As per the National Women’s Business Council 2022 report, 38.3% of women-owned businesses stated that their sales decreased significantly during the pandemic. In contrast, that number was 31.3% for men-owned businesses.
Trends
More than half of all women-owned businesses are typically found in three industries. These include healthcare and social assistance, professional/scientific/technical services, and other services such as salons and pet care businesses. Despite having the greatest number of female-owned businesses, these sectors don't have the highest income levels.
The distribution of women-owned businesses in the US is likewise unbalanced. At 24.7%, Hawaii stands out as the state with the greatest percentage of women-owned businesses, followed by Virginia and Colorado, each with 23.8% and 22.2% respectively. On the other hand, several of the states with the lowest proportion of female-owned businesses are found in the central United States.
Businesses started by women generated more money than those started by men, according to a Boston Consulting Group study from 2018 that looked at more than 350 startups. As per the study, male-run startups only made 31 cents in revenue for every dollar invested whereas female-run startups made 78 cents.
This finding is in line with a number of other studies. For instance, according to data gathered by First Round Capital, the companies it had invested in with female founders performed 63% better than those with all-male founding teams. Furthermore, women-led teams have a 35% better return on investment than all-male teams, according to Ewing Marion Kauffman Foundation research.
While American companies like PepsiCo, Inc. (NASDAQ:PEP), Colgate-Palmolive Company (NYSE:CL), and Amazon.com, Inc. (NASDAQ:AMZN) continue to attract investors' attention, it might be a good idea for investors to jump into some women-owned companies like Campbell Soup Company (NYSE:CPB), Dolby Laboratories, Inc. (NYSE:DLB), and J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) for broader exposure. As such, we have compiled a list of the top 20 women-owned companies in the US.
Our Methodology
We used the Forbes billionaires 2023 list as the starting point for our list. We started from the top of the list and picked American female billionaires. Our next step was to investigate each female’s source of income to find out which company she was working in.
We focused on women who are founders, significant stakeholders, owners or in-charge of day-to-day operations of US-based companies.
After replicating the process for every female, we came up with a list of women-owned companies in the US. Finally, we conducted thorough research using business reports and publications to evaluate each company's future growth possibilities in order to select the top 20 women-owned firms in the US. The companies have been ranked based on their annual revenue.
So, let's have a look at the leading women-owned companies that are making a significant impact on the American economy.
Women-Owned Companies in the US
20. In-N-Out Burger
Total Revenue of the Company in 2021 (in billions): $0.6
In-N-Out Burger, with more than 120 locations in California and Nevada, is an American chain of fast-food restaurants. The company now has operations in Arizona, Nevada, Utah, Texas, Oregon, and Colorado in addition to California. Moreover, it has plans to expand into Tennessee and Idaho. It currently employs 27,000 people.
The current owner, of In-N-Out Burger, is Lynsi Snyder.
19. Houston Texans
Total Revenue of the Company in 2022 (in billions): $0.6
Houston Texans, founded in 1999, are a professional American football team based in Houston that competes in the National Football League (NFL). The co-founder and current owner of the team is Janice Suber McNair.
18. San Francisco 49ers
Total Revenue of the Company in 2022 (in billions): $0.6
The San Francisco 49ers are a professional American football team that competes in the National Football League (NFL) and is based in Santa Clara, California. Between 1981 and 1994, the 49ers won five Super Bowl championships.
Marie Denise DeBartolo York, daughter of late construction magnate Edward J. DeBartolo Sr., is the owner and co-chair of the team.
Total Revenue of the Company in 2022 (in billions): $0.7
Johnson Outdoors Inc. (NASDAQ:JOUT), founded in 1970, produces outdoor recreational products such as watercraft, diving equipment, camping gear, and outdoor clothing. It employs around 1,400 employees and has operations in 24 locations worldwide.
Helen Johnson-Leipold, an heir to family-owned S. C. Johnson & Son, was elected chairman and CEO of Johnson Outdoors Inc. (NASDAQ:JOUT) in 1999.
16. Larry H. Miller Company
Total Revenue of the Company in 2021 (in billions): $0.8
Larry H. Miller Company, headquartered in Sandy, Utah, is a privately-owned business with operations located mainly across the western United States. The key areas of focus, as a portfolio of companies and investments, are real estate, healthcare, entertainment, sports, finance, long-term strategy and investments, as well as philanthropy.
Karen Gail Miller, after the death of her husband Larry H. Miller, became chairwoman and owner of Larry H. Miller Company in 2009.
15. Little Caesars
Total Revenue of the Company in 2021 (in billions): $1.1
Little Caesars, headquartered in Detroit, Michigan, is an American multinational pizza chain. High-quality ingredients are used by the brand, including a blend of fresh mozzarella and Muenster cheese.
The brand was cofounded in 1959 by Marian Ilitch and her husband, Mike, who passed away in 2017. She currently owns the pizza chain, which generates annual systemwide sales of more than $4.5 billion.
Total Revenue of the Company in 2022 (in billions): $1.2
Dolby Laboratories, Inc. (NYSE:DLB), headquartered in San Francisco, United States, specializes in audio noise reduction, audio encoding/compression, spatial audio, and HDR imaging.
Dagmar Dolby owns about 36% of the company that her late husband Ray Dolby founded in 1965.
13. Sierra Nevada Corporation
Total Revenue of the Company in 2022 (in billions): $2.0 Sierra Nevada Corporation, headquartered in Nevada, United States, is a world-class prime systems integrator and electronic systems provider known for its rapid, innovative, and agile technology solutions. This private aerospace and defense company's chairwoman, president, and primary owner is Eren Ozmen.
12. Epic Systems
Total Revenue of the Company in 2022 (in billions): $3.8
Epic Systems, founded in 1979 by computer programmer Judy Faulkner, who is now its CEO, is an American privately held healthcare software company. According to the company, 190 million people use its technology worldwide.
At least 40% of Americans, per a Forbes estimate, have medical records kept on the company’s electronic health record (EHR).
Total Revenue of the Company in 2022 (in billions): $4.2
Las Vegas Sands Corp. (NYSE:LVS), headquartered in Las Vegas, Nevada, is an American casino and resort company. It owns and operates luxury resorts in Macau, Singapore, and Las Vegas.
More than half of the gambling empire is now owned by Miriam Adelson, the widow of Sheldon Adelson, the former chairman and CEO of the company who passed away at age 87 in January 2021.
10. Panda Restaurant Group
Total Revenue of the Company in 2022 (in billions): $4.5 Panda Restaurant Group, with over 2,200 locations, owns and operates restaurants. In busy places like shopping centers, airports, and sports venues, it offers quick service Chinese food. The Panda Restaurant Group is currently owned and managed by Andrew and Peggy Cherng, who co-founded it in 1973.
9. The Wonderful Company
Total Revenue of the Company in 2022 (in billions): $5.0
The Wonderful Company, formerly known as Roll Global, is an agricultural company in the United States. The company offers fruits, nuts, flowers, water, wines, and juices.
Among its well-known brands are Wonderful Seedless Lemons, POM Wonderful, FIJI Water, Wonderful Pistachios and Wonderful Almonds, Wonderful Halos, JUSTIN Vineyards and Winery, JNSQ wines, and Teleflora.
The company, which employs roughly 10,000 people, is owned by Lynda Resnick and her husband Stewart.
8. Uline
Total Revenue of the Company in 2022 (in billions): $6.1
Uline, headquartered in Pleasant Prairie, Wisconsin, is a privately held American company which offers shipping, packaging, and industrial supplies. Product lines have grown to encompass retail, safety, material handling, industrial, and packaging goods in order to better serve customers. The company operates distribution hubs in the US, Canada, and Mexico. It currently employs 8,500 people.
Elizabeth Uihlein, who founded the company with her husband Richard in 1980, currently serves as its president and chief executive officer.
Total Revenue of the Company in 2022 (in billions): $8.3
Campbell Soup Company (NYSE:CPB), headquartered in Camden, New Jersey, is an American processed food and snack company. Food brands like Pepperidge Farm, Goldfish, V8, Bolt House Farms, Snyder's of Hanover, Swanson Broths, as well as Prego and Pace are all part of Campbell's product portfolio.
The company’s biggest shareholder, and a board member, is Mary Alice Dorrance Malone.
6. Fidelity Investments
Total Revenue of the Company in 2022 (in billions): $11.6
Fidelity Investments, an American multinational financial services corporation, offers financial products and services to more than 40 million individuals.
Abigail Johnson, chairman of Fidelity Investments since 2016, owns an estimated 24.5% stake of the firm. Under her direction, the firm launched a platform that allows institutional investors to trade bitcoin and ether in 2018.
In addition to PepsiCo, Inc. (NASDAQ:PEP), Colgate-Palmolive Company (NYSE:CL), and Amazon.com, Inc. (NASDAQ:AMZN), Fidelity Investments is one of the best companies to consider for a balanced portfolio.
