Seven Arizona companies make the grade on this year's Fortune 500

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Posted at 8:40 AM, May 24, 2022
and last updated 2022-05-24 11:48:03-04

The latest Fortune 500 list has a familiar bunch of Arizona names this year, but fewer of them.

The prestigious compilation of the nation’s largest public companies listed seven Valley firms in the top 500 for 2022, down from a 25-year high of eight last year. Another 13 Arizona firms were among Fortune’s top 1,000.

Leading the pack for the Grand Canyon State was No. 157 Freeport-McMoRan Inc., the Phoenix-based mining giant, which jumped up 58 spots from last year and traded places with last year’s Arizona leader Avnet Inc., which dropped from No. 168 last year to No. 180 this year. By market capitalization, Freeport-McMoRan dwarfs Avnet, at $55.6 billion based on Monday's share value, compared to $4.5 billion for the Phoenix-based electronic components distributor.

Next on this year’s Arizona list were used-car seller Carvana, waste-management company Republic Services Inc., technology company Insight Enterprises Inc., real-estate tech company Opendoor Technologies, homebuilder Taylor Morrison Home Corp. and semiconductor manufacturer Onsemi, which Fortune listed by its former name On Semiconductor. Onsemi broke into the top 500 after placing No. 509 last year. See a full list of Arizona’s Fortune 1000 companies below.

Read more of this story from the Business Journal.