News Summary
Arizona has maintained nine companies in the 2025 Fortune 500 rankings, yet this marks a slight decline from last year. Freeport-McMoRan leads the state at No. 169, showing significant revenue growth amidst a strong copper market. Following closely is Avnet at No. 181, facing a revenue drop. Other notable companies include Republic Services and Sprouts Farmers Market, which has returned to the list. Despite the small drop in representation, Phoenix remains a vital hub for major industries.
Arizona has secured nine spots in the 2025 Fortune 500 list, which ranks the largest public companies based on revenue. However, the number of Arizona-based companies has decreased by one compared to last year, revealing a slight downturn in the state’s representation in this prestigious ranking.
Leading the way for Arizona is Freeport-McMoRan Inc., based in Phoenix, which has made a significant leap to No. 169 in the overall Fortune 500 ranking, up from No. 178 in the previous year. The company reported a staggering revenue of $25.455 billion, reflecting an 11.4% increase from 2024, primarily fueled by a robust copper market during the first quarter of the year.
Following Freeport-McMoRan, the second highest-ranked Arizona company is Avnet (NYSE: AVT), which fell to No. 181, down from No. 157 on the list. Avnet’s revenue also took a hit, declining by 10.5% to $23.757 billion.
Nationally, Walmart continues to be the top company on the Fortune 500, marking its 13th consecutive year at the top of the list with an impressive revenue of $681 billion. Other major players in the top five include Amazon ($638 billion), UnitedHealth Group ($400 billion), Apple ($391 billion), and CVS Health ($373 billion).
Other Arizona Companies on the Fortune 500
Aside from Freeport-McMoRan and Avnet, several other companies from Arizona made it to the Fortune 500 list:
- Republic Services – No. 266 with $16 billion in revenue
- Reliance Inc. – No. 309 with $13.8 billion in revenue
- Carvana – No. 314 with $13.7 billion in revenue
- Insight Enterprises – No. 447 with $8.7 billion in revenue
- Taylor Morrison Home Corp. – No. 467 with $8.2 billion in revenue
- Sprouts Farmers Market – No. 481 with $7.7 billion in revenue
- Microchip Technology – No. 485 with $7.6 billion in revenue
Market Value Insights
While Freeport-McMoRan and Avnet reported closely comparable revenues, their market values stand in stark contrast. Freeport boasts a market value of $58 billion, while Avnet is valued at approximately $4 billion.
Changes in the Arizona Fortune 500 Landscape
Interestingly, Sprouts Farmers Market has made a return to the Fortune 500 list after an absence. Conversely, both Knight-Swift Transportation and ON Semiconductor have dropped off the list entirely, highlighting the ebbs and flows of corporate standings within the state.
Conclusion
All Arizona companies on the Fortune 500 list are headquartered in the Phoenix area, which serves as a hub for the state’s major industries and economic activity. As companies continue to navigate market conditions, these rankings provide a snapshot of business health and performance in Arizona and beyond.
Deeper Dive: News & Info About This Topic
- AZCentral: Freeport-McMoRan and Avnet Lead Arizona’s Fortune 500 Companies
- Axios: Arizona Companies in 2025 Fortune 500
- ABC15: Nine Arizona Companies Make Fortune 500 List
- Wikipedia: Fortune 500
- Google Search: Arizona Fortune 500
Author: STAFF HERE PHOENIX WRITER
PHOENIX STAFF WRITER The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
