8 Arizona companies rank in Fortune 500 for 2021, the most in the past 25 years

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Posted at 8:55 AM, Jun 03, 2021
and last updated 2021-06-03 11:55:18-04

PHOENIX — Eight Arizona companies made the Fortune 500 this year, the most to make the list in the past 25 years. An additional 13 companies from the Grand Canyon State ranked in the magazine’s list of top 1,000 companies.

The highest ranking Arizona company was technology distributor Avnet Inc. at No. 168, up one position from its ranking last year. Avnet (Nasdaq: AVT) has been a stalwart on the list, consistently appearing year after year. The other Arizona companies among the top 500, in descending rank order, include Freeport-McMoRan (NYSE: FCX), Republic Services (NYSE: RSG), Insight Enterprises (Nasdaq: NSIT) and Magellan Health (Nasdaq: MGLN).

Three Arizona companies made the Fortune 500 for the first time in 2021: Sprouts Farmers Market (Nasdaq: SFM) debuted at No. 437 after narrowly missing out at No. 502 last year, followed by Taylor Morrison (NYSE: TMHC) at No. 452 and Carvana (NYSE: CVNA) at No. 483.

Carvana was the biggest mover among Arizona companies, shooting up 168 spots from its position last year. Carvana also had the biggest revenue gain among its peers in the state, up 41.8% from last year. Taylor Morrison gained 115 positions from its spot last year while Amkor Technologies (Nasdaq: AMKR) moved up 114 spots to No. 525 and Meritage Homes (NYSE: MTH) moved up 96 spots to No. 577.

Read more of this story from the Phoenix Business Journal.