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.

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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