6 Valley companies represented in 2019 Fortune 500 list
PHOENIX — Six Valley-based companies are listed in the 2019 Fortune 500 list, including two companies that rank in the top 200 in terms of revenue.
Phoenix-based Avnet and Freeport-McMoRan were the top-two ranking companies in Arizona that made the list. Avnet is technology solutions provider while Freeport-McMoRan is a mining and crude-oil production company based downtown.
Avnet was ranked No. 165 and Freeport-McMoRan was ranked No. 170 among the 500 companies.
The other four companies were Republic Services in Scottsdale, Magellan Health in Scottsdale, Insight Enterprises in Tempe and ON Semiconductor in Phoenix. All four companies ranked between No. 314 and No. 485.
A chart that graphed the progression of Fortune 500 company’s rankings since 1995 showed that Avnet was the only Valley company that has made the list every year.
ON Semiconductor and Magellan Health were the most recent companies to be added to the list, making their first appearances in 2018.
In terms of profits, Avnet was the only Valley company to report a loss, totaling $0.16 billion. Freeport-McMoRan reported the highest profits in the state at $2.6 billion. Republic Services was the only other company to report more than $1 billion in profits with $1.04 billion.