The Most Profitable Company in Every State
These companies are out-earning the competition in your state.
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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%
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%
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%
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%
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.
About the Author
Joel Anderson
Joel Anderson is a business and finance writer with over a decade of experience writing about the wide world of finance. Based in Los Angeles, he specializes in writing about the financial markets, stocks, macroeconomic concepts and focuses on helping make complex financial concepts digestible for the retail investor.
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