Study shows which Arizona company earns the highest annual revenue

PHOENIX — Home to numerous profitable companies, Phoenix is one of the fastest-growing cities in the United States.

According to a study by Howmuch.net, Avnet made the most revenue in 2017 of any company headquartered in Arizona. The company was also found to be the largest in Arizona.

The study detailed the company that made the most revenue in each state.

The electronics distributor made $26 billion last year, according to the site. This placed Arizona at No. 31 on the list.

Arizona is part of a cluster of southwest-based businesses that made between $20 and $26 billion last year, including Utah’s Asahi ($21) and Colorado’s Arrow Electronics ($24). Enterprise Products of Oklahoma, which borders New Mexico and Colorado, made $21 billion as well.

New Mexico’s largest company, PNM Resources, made $1 billion.

Perhaps predictably, Walmart’s $486 billion revenue led the country. The Arkansas-based business was more than twice as much as the next-highest, Exxon Mobil of Texas ($226 billion).

Berkshire Hathaway in Nebraska placed third at $224 billion, closely followed by Apple at $216 billion.

They are four of 15 states with a company that made at least $100 billion in 2017.

Thirteen states don’t have a company that made more than $10 billion in revenue.

Other notable businesses include Nike in Oregon ($32 billion), Amazon in Washington ($136 billion) and Verizon in New York ($126 billion).

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