Nine Arizona-based companies appear on the freshly released 2025 edition of the prestigious Fortune 500 list of the largest public companies in the nation, ranked by revenue.
That total was one shy of last year’s number for the Grand Canyon State as a couple companies dropped off the list and a new one joined.
At the top for Arizona was Phoenix-based global mining giant Freeport-McMoRan Inc., which made a nine-spot jump from No. 178 last year to No. 169 this year on the Fortune 500. Freeport’s revenue of $25.455 billion represented an 11.4% increase for the year, and the company has benefited during the first quarter of this year from a robust copper market.
The next-highest Arizona company was last year’s Arizona leader, Avnet (NYSE: AVT), which plunged 24 spots from No. 157 last year to No. 181 this year after a 10.5% decline in revenue, which came in at $23.757 billion.
