Top executives at 41 large corporations in Arizona earned a median $3.26 million in 2016, according to an Arizona Republic analysis of compensation submitted in corporate filings. That’s up from $2.63 million in 2015, the prior record high.
Avnet Inc., a Phoenix-based electronics and office-equipment wholesaler, remains the biggest Arizona company in the 2017 Fortune 500.
The Fortune 500 is a list of the top companies in the United States, sorted by revenue earned in the past fiscal year.
The top of the list is full of familiar names, led by Walmart, a company that earned $485 billion in revenue. Rounding out the rest of the top five are Berkshire Hathaway, Apple, Exxon Mobil and McKesson.
Avnet, which does business across the globe, ranked 108th overall with roughly $26 billion in revenue. Mining company Freeport-McMoRan Inc. of Phoenix ranked 175th, waste-management company Republic Services of Phoenix ranked 299th and business-technology company Insight Enterprises of Tempe ranked 473rd.
Republic Services, a Phoenix-based waste-management company, reported the highest profits of the Arizona companies, taking in $612 million in its last fiscal year.
The same four companies represented Arizona in the 2016 edition of the Fortune 500. Avnet dropped six spots, Freeport-McMoRan remained the same. Republic Services jumped 13 spots, while Insight moved up one.
Several Arizona companies are on the larger Fortune 1000 list:
Magellan Health, No. 526; Sprouts Farmers Market, No. 585; Swift Transportation, No. 586; ON Semiconductior, No. 598; Amkor Technology, No. 600; Carlisle, No. 623; Taylor Morrison Home, No. 644; Pinnacle West Capital, parent of Arizona Public Service Co., No. 651; Meritage Homes, No. 725; First Solar, No. 738; Microchip Technology, No. 897; Apollo Education Group, No. 911; and GoDaddy, No. 980.
Apollo Education Group, parent of the University of Phoenix and once one of Arizona’s most valuable corporations, earlier this year became a privately owned subsidiary of an investor consortium headed by the Vistria Group and Apollo Global Management, an unrelated company.
Swift Transportation and Knight Transportation in April announced plans to merge to create what they say will be the industry’s largest full-load trucking company.
New York is the state with the most companies on the list with 54, according to Fortune. California has 53 and Texas 50.
Twenty companies debuted on the list in 2017, including Adobe Systems and Tesla.
Arizona companies in the Fortune 500
108. Avnet Inc., $26.2 billion revenue, $506.5 million profit.
175. Freeport-McMoRan Inc., $15.8 billion revenue, $4.1 billion loss.
299. Republic Services of Phoenix, $9.4 billion revenue, $612 million profit.
473. Insight Enterprises, $5.4 billion revenue, $87 million profit.
Fortune 500 Top 10 list
1. Walmart Stores
2. Berkshire Hathaway
4. Exxon Mobil
6. UnitedHealth Group
7. CVS Health
8. General Motors
10. Ford Motor
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