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Report: Five Arizona companies make Fortune 500

PHOENIX — Just five Arizona-based companies appeared on the Fortune 500 list.

According to the Phoenix Business Journal, all five are based in the Valley.

The highest-ranking company was Avnet, a technology distributor that did $25.5 billion in revenue last year and reported a $450 million profit. It came in 117th.

Avnet was followed by Freeport McMoRan Copper & Gold (No. 143), Republic Services (No. 325), PetSmart (No. 376) and Insight (No. 483), respectively.

Arizona lost its sixth member of the 500 when US Airways merged with American Airlines.

Eight more Arizona companies are included in the Fortune 1000.