2019 Fortune 500 List Includes Six Valley Companies

The latest Fortune 500 list includes six companies based in the Valley, two of which are included in the top 200 when it comes to revenue.

The two highest-ranking Arizona companies on the list were Phoenix-based Avnet and Freeport-McMoRan. Avnet is a technology solutions provider, and Freeport-McMoRan is a mining and crude-oil production company based in downtown.

Among the 500 companies listed, Avnet came in at No. 165 and Freeport-McMoRan was No. 170.

The remaining four companies were Republic Services in Scottsdale, Magellan Health in Scottsdale, Insight Enterprises in Tempe and ON Semiconductor in Phoenix. All four companies received rankings ranging between No. 314 and No. 485.

According to a chart graphing the progression of Fortune 500 company’s rankings since 1995, Avnet was the only Valley company on the list every year.

With their first appearance having come in 2018, ON Semiconductor and Magellan Health were the most recent companies to be added to the list.

When looking at 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.