Arizona is full of savvy entrepreneurs and blossoming businesses. The 2024 Fortune 500 list recently made its debut and to no surprise, 10 Arizona-based businesses ranked throughout the prestigious list.
1. Avnet Inc. — #157
Avnet remains the state’s highest-ranked Fortune 500 company. Since last year, the company has climbed six spots to number 157 with about $26.5 billion in revenue. Avnet is a global leader in electronic components and services that help guide makers and manufacturers from design to delivery.
2. Freeport-McMoRan Inc. — #178
Freeport-McMoRan is a leading international metals company that is headquartered in Phoenix. Freeport-McMoRan is a global company with operations in other countries including Indonesia and South America. The company made over $22.85 billion in revenue.
3. Republic Services Inc. — #276
Republic Services is a leading company in environmental services. Its focus is to partner with customers to create a more sustainable world. The company earned over $12.88 billion in revenue and jumped 33 spots with a 10.8% increase in revenue when compared to 2023.
4. Reliance Steel & Aluminum Co. — #280
Reliance Steel & Aluminum Co. is a diversified metal solutions provider. The company is the largest metal service center company in North America. It earned $12.84 billion in revenue. The company dropped 33 spots from last year due to a 13% decrease in revenue.
5. Carvana Co. — #377
Carvana allows customers to purchase a car without a car salesman. The car buying process with Carvana is 100% online and vehicles are available by pick up or delivery. The company received $13.60 billion in revenue. Despite having over 20% revenue growth, the company fell 69 spots from last year.
6. Insight Entreprises Inc. — #427
Insight is a leading solutions and systems integrator. They provide business and government sectors with computer hardware, software, cloud solutions, and IT services. Insight earned a total of $9.43 billion in revenue. The company dropped 48 spots within the lineup due to a 12% revenue decline from 2023.
7. Microchip Technology Inc. — #477
Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control solutions. The company serves over 120,000 customers and is headquartered in Chandler, Arizona. Microchip Technology earned $8.4 billion and climbed 75 spots from last year due to a 23.7% revenue increase.
8. ON Semiconductor Corp. (Onsemi) — #452
ON Semiconductor Corp. is a designer, manufacturer and supplier of semiconductor products and solutions. The company earned $8.3 billion.
9. Taylor Morrison Home Corp. — #483
Taylor Morrison is one of the largest home-building companies in America. The company combines incredible craftsmanship and modern design with a seamless homebuilding process. The company earned a total of $8.2 billion in revenue.
10. Knight-Swift Transportation Holdings Inc. — #495
Knight-Swift Transportation engages in the provision of multiple truckload transportation and logistics services. The company earned $7.2 billion in revenue over the past year.
A few other Arizona companies almost made it to the top 500 including Sprouts Farmers Market (520), Amkor Technology (540), Resideo Technologies (553), Meritage Homes (560) and Carlisle (588).
Learn more about the 2024 Fortune 500 List here.
