I could not find Kentucky's companies, but I always thought Ashland was on the list in years past. Are they still part of it? I thought they spun Valvoline off a few years back and it may have removed them from the list. Otherwise, we would want to include them in Cincinnati's list.

I could not find Kentucky's companies, but I always thought Ashland was on the list in years past. Are they still part of it? I thought they spun Valvoline off a few years back and it may have removed them from the list. Otherwise, we would want to include them in Cincinnati's list.

 

Ashland fell from 516 to 705 and Valvoline debuted at 933; their combined revenue would've bumped them up about 10 spots this year from last so just outside of the 500 at around 506.

 

General Cable at 621 is out of Highland Heights which is Cinci/NKY.

 

Of note for Columbus Ascena Retail(Lane Bryant's parent) is 423 and NiSource (Columbia Gas' parent) checks in at 535.

Here is a nice map of the F500 companies.

 

 

http://fortune.com/fortune500/visualizations/?iid=recirc_f500landing-zone1

 

 

I find it interesting that some of the fastest growing metro's have none or very few F500 companies.

Of note for Columbus Ascena Retail(Lane Bryant's parent) is 423 and NiSource (Columbia Gas' parent) checks in at 535.

I think that it's important to clarify that neither parent company mentioned above are headquartered in Columbus, OH.  Columbus Ascena Retail's corporate headquarters are in Mahwah, NJ and NiSource's are in Merrillville, IN.

Here is a nice map of the F500 companies.

 

 

http://fortune.com/fortune500/visualizations/?iid=recirc_f500landing-zone1

 

 

I find it interesting that some of the fastest growing metro's have none or very few F500 companies.

 

I know this isn't new, but I'm always surprised by how many F500 companies are in the Minneapolis/St. Paul region. It isn't that huge, that old, is historically liberal (which is usually seen as not business friendly) and is the opposite of the 'sun belt'. Is there a good policy reason for this that could be copied by Ohio cities, or is it more luck of the draw having talented people starting companies who just happen to be from there?

Here is a nice map of the F500 companies.

 

 

http://fortune.com/fortune500/visualizations/?iid=recirc_f500landing-zone1

 

 

I find it interesting that some of the fastest growing metro's have none or very few F500 companies.

 

I know this isn't new, but I'm always surprised by how many F500 companies are in the Minneapolis/St. Paul region. It isn't that huge, that old, is historically liberal (which is usually seen as not business friendly) and is the opposite of the 'sun belt'. Is there a good policy reason for this that could be copied by Ohio cities, or is it more luck of the draw having talented people starting companies who just happen to be from there?

 

Minnesota is a very educated state.  They may be liberal, like California, but spend money on education which has long term benefits far exceeding low taxes.

That's a good point on education, it's just SO COLD that I'm surprised some of these business haven't relocated to Dallas, Atlanta, SoCal, etc. Clearly weather and cheap corporate taxes aren't the only driving forces. Dallas/Ft.Worth has 22 F500 companies vs Minneapolis/St. Paul's 18, but they also have 6.4 million people while MSP only has 3.6 million.

 

I guess what I'm saying is I feel like crappy weather is often an excuse Ohian's use for losing out to sun belt cities, but clearly it can be overcome if you look at Minneapolis/St. Paul. That area has good transit, strong urban cores, tons of bike paths and parks and a very educated workforce. Something to think about.

MSP has also struggled a bit too. Part of it is that they developed a strong fiscally conservative base with their finances and companies. ALso, look at their companies and the sectors they compete in. The vast majority base their growth in the agri-business side of things. MSP is essentially the capital of agribusiness in the US and developed that well. And the thing about Agribusiness is that it was a sector that was very recession resistant because people still need to eat.

 

Look at some of their large companies and their origins (not so much Fortune 500) but large businesses with a huge MSP presence.

3M was an industrial/mining company

General Mills - again milling

Pilsbury - grain and milling

Cargill - grain - agribusiness

Target - Dry goods

Burlington Northern RR (now gone) - moving agribusiness from farms to cities

Wells Fargo and US Bank - original forms started there to serve growing agribusiness

 

These companies were the catalyst that allowed the other businesses like Medtronic and higher tech companies to thrive in the area as the economy evolved. Also, as the capital of the North, people who don't go to Chicago from that part of the Midwest go to the twin cities. It is a mesh of people from Iowa, Wisconsin, ND, SD, MO, IL, and NE who relocate there for opportunity and are not afraid of cold Midwestern winters. They go there because outside of Chicago, there really was nowhere else in the region.

 

NOw, I think MSP is getting hurt a bit now that Denver has started flexing its muscles and people who may have otherwise ended up there are going to Denver.

^There are a lot of Iowans in Minneapolis from my hometown, and quite a lot in Denver too.  It seemed people who had the itch to leave Iowa either went to Minneapolis or Denver, not many in Chicago.  I'm about the only person I know who went east a bit...

 

I'll also add, Minneapolis has a cool kind of punk subculture.  When my brother went there, I think Loring Park has really gentrified being between downtown and uptown but 7 years ago was still a bit gritty.  Everyone in his complex and around him was from outside of Minneapolis, either like you say Iowa, Wisconsin, Illinois.  They were all involved in the arts, most as starving musicians and comedians.  That's why I wish Cincinnati could get more of a draw with folks like that with developing a bit more, but it's hard to get that critical mass.

 

I think it also helps the notoriety of Minneapolis considering Prince came from the bottom to the top there and never stopped representing Minneapolis and kept it his home base throughout his life.

MSP seems to me like the capital of the upper Midwest in the same way that Atlanta is the capital of the south. States like Iowa, the Dakotas, Nebraska, and even states as far away as Wyoming and Montana don't really have a "big city," so MSP serves that role. It's probably got the biggest catchment area of any major American city (Denver is similar in this regard).

^ and this is what Ohio (and some other rust belt states) misses out on.  Ohio gets split between 3 major cities and 4 or 5 smaller ones.  also, as we all know, they tend to cannibalize on each other.  So without having the state able to focus on any one major city, or two major cities, all that collective wealth gets spread out. 

^ and this is what Ohio (and some other rust belt states) misses out on.  Ohio gets split between 3 major cities and 4 or 5 smaller ones.  also, as we all know, they tend to cannibalize on each other.  So without having the state able to focus on any one major city, or two major cities, all that collective wealth gets spread out.

 

Not only that but there are many major cities within a short distance of most of Ohio too.

OH, PA, MI and NY are very similar states in that they developed with a couple large and many mid-sized "factory cities" around them as opposed to one large regional hub like many other states (often centered around the capital). These states relied less on the capital because everything was pretty self inclusive as they often developed along shipping passages and waterways and as the Industrial Revolution heated up, along smaller waterways for power and rail lines.

Ohio is the only state that has its three largest metropolitan areas all more or less the same size. Some states have two metro areas that are similar in size and most have just one major with the next biggest being around half the size of the biggest.

 

It's unique in that way. In some aspects it's a good thing since it provides stability, variety, etc. but like others have said, it means the state can't focus its efforts on just one major central hub city but instead is splitting it three ways and then among all the smaller support cities like Dayton, Toledo, Akron, Canton, Youngstown, etc.

Minnesota students have an advantage in that their middle and high school students start later in the day with elementary schools being the ones that start at 7:20 or whatever. That way the older students are actually awake and don't have high absenteeism. I remember being little and being up and at 'em every day including weekends where I had to sit through the 6AM farm report before cartoons started. Only 2 years later I COULD NOT WAKE UP for middle school which began cruelly at 7:20.

Ohio is the only state that has its three largest metropolitan areas all more or less the same size. Some states have two metro areas that are similar in size and most have just one major with the next biggest being around half the size of the biggest.

 

It's unique in that way. In some aspects it's a good thing since it provides stability, variety, etc. but like others have said, it means the state can't focus its efforts on just one major central hub city but instead is splitting it three ways and then among all the smaller support cities like Dayton, Toledo, Akron, Canton, Youngstown, etc.

 

It seems like FL does a better job of spreading attention to Tampa and Orlando (rather than just top dog Miami) than OH does spreading its attention much farther than the 270 loop.

I guess what I'm saying is I feel like crappy weather is often an excuse Ohian's use for losing out to sun belt cities, but clearly it can be overcome if you look at Minneapolis/St. Paul. That area has good transit, strong urban cores, tons of bike paths and parks and a very educated workforce. Something to think about.

 

Boston also has long terrible winters; sunless Seattle anyone? The Wash DC area has TWO bad seasons, winter and summer. As you say, weather isn't the driver.  I think Ohio has caught on in the last 10 years to why business really come and go.

Here's the full 2018 Fortune 1000 list by Ohio metro, unfortunately Dayton lost one of their two today with Teradata announcing they will move to San Diego...

 

Total Ohio metro F1000 companies: 57 56 (58 incl NKY)

 

Akron-Canton: 6

Cleveland: 15

Cincinnati: 12 (14 incl NKY)

Columbus: 15

Dayton: 2 1

Findlay: 2

Toledo: 5

 

Akron-Canton

*Goodyear (#187)

*FirstEnergy (#219)

*J.M. Smucker (#383)

*Diebold (#551)

*Timken (#731)

*A. Schulman (#837)

 

Cleveland

*Progressive (#112)

*Sherwin-Williams (#190)

*Parker-Hannafin (#256)

*KeyCorp (#412)

*TravelCenters of America (#465)

*RPM International (#528)

*TransDigm Group (#662)

*PolyOne (#672)

*Medical Mutual (#748)

*Hyster-Yale Materials (#751)

*Aleris (#757)

*Lincoln Electric (#804)

*Applied Industrial Technologies (#810)

*Cliffs Natural Resources (#867)

*Nordson (#939)

 

Cincinnati

*Kroger (#17)

*Procter & Gamble (#42)

*Macy’s (#120)

*Fifth Third (#366)

*American Financial Group (#413)

*AK Steel (#461)

*Western & Southern (#476)

*Cincinnati Financial (#484)

*Cintas (#500)

*General Cable (#621)(NKY)

*Worldpay (#694)

*Ashland Global Holdings (#705)(NKY)

*Convergys (#772)

*Ohio National Mutual (#986)

 

Columbus

*Cardinal Health (#14)

*Nationwide (#66)

*AEP (#185)

*L Brands (#231)

*Big Lots (#510)

*Huntington Bancshares (#544)

*Greif (#642)

*Hexion (#649)

*Abercrombie and Fitch (#666)

*Worthington Industries (#730)

*Scotts Miracle-Gro (#741)

*DSW (#771)

*Mettler-Toledo International (#788)

*Express (#927)

*M/I Homes (#968)

 

Dayton

*Verso (#838)

*Teradata (#920)

 

Findlay

*Marathon (#41)

*Cooper Tire (#759)

 

Toledo

*Dana Holding (#393)

*Owens-Illinois (#410)

*Owens Corning (#442)

*Welltower (#577)

*The Andersons (#629)

So more companies moving to high-tax areas such as California and Columbus. Chipotle and DHL are setting up shop in Columbus along with Sbarro who moved here a couple years ago. Yet Republicans insist that South Dakota is going to "win" due to taxation only.

Cleveland area might add another with Covia Holdings, after the merger of Fairmount Santrol and Unimin. Their combined revenue should be around $2 billion, which might squeak them onto the bottom of the list.

 

I'd love to see the list with number of  local employees. Some of them, like RPM, are holding companies with little local employment. Covia is setting up shop with under 100 employees. The rest are in facilities across the country.

This year's list still has Ohio in 5th place for most Fortune 500 with 27.  The loss of Macy's to New York didn't change the list at all, really.

 

Ohio

16. Cardinal Health - $145,534

22. Marathon Petroleum  - $124,813

23. Kroger - $122,286

50. Procter & Gamble - $67,684

74. Nationwide - $43,982

86. Progressive - $39,022.3

180. Sherwin-Williams - $17,900.8

204. American Electric Power - $15,561.4

216. Goodyear Tire & Rubber - $14,745

224. Parker-Hannifin - $14,320.3

248. L Brands - $12,914.2

294. FirstEnergy - $10,850

325. Fifth Third Bancorp - $9,790

367. Dana - $8,620

383. American Financial Group - $8,237

390. Andersons - $8,170.2

400. Cincinnati Financial - $7,924.2

401. Western & Southern Financial Group - $7,920.5

407. J.M. Smucker - $7,838

411. KeyCorp - $7,694

431. Owens Corning - $7,160

441. Cintas - $6,892.3

453. O-I Glass - $6,691

456. Alliance Data Systems - $6,580.9

467. AK Steel Holding - $6,359.4

480. TravelCenters of America - $6,117.4

500. Huntington Bancshares - $5,655

 

By Ohio Metros

1. Cincinnati MSA - 8

2. Columbus MSA - 6

3. Cleveland-Elyria MSA - 5

4. Toledo MSA - 4

5. Akron MSA - 2

6. Findlay MSA - 1

7. Wooster (Orrville) MSA - 1

 

Top 10 Fortune 500 States

1. New York - 54

2. California - 53

3. Texas - 50

4. Illinois - 37

5. Ohio - 27

6. Pennsylvania / Virginia - 22

7. Florida / Georgia - 18

8. Massachusetts / Michigan / New Jersey - 17

9. Minnesota - 16

10. Connecticut / North Carolina - 13

 

Full 1000 Fortune 500 List:  https://fortune.com/fortune500/2020/search/?hqstate=OH

I assume the recent acquisition of AK Steel by Cleveland Cliffs is not yet factored in.

7 minutes ago, skiwest said:

I assume the recent acquisition of AK Steel by Cleveland Cliffs is not yet factored in.

 

That is correct. Wouldn't be surprised if Cleveland adds two Fortune 500's next year (Cliffs/AK) plus TransDigm Group at spot #513 could leap in.

Very surprised that, even with the "top 10" list ColDayMan posted really being the top 15 because of some ties (without adjusting following spots on the list accordingly), Washington didn't make the list.

 

Also, I'm really surprised at how big some Ohio companies are (that I though were decent-sized but had no idea they were Fortune 500).

 

Last but not least: I'll admit I've never even heard of "O-I Glass."

1 hour ago, Clefan98 said:

 

That is correct. Wouldn't be surprised if Cleveland adds two Fortune 500's next year (Cliffs/AK) plus TransDigm Group at spot #513 could leap in.

 

So Cleveland would move to the top with #7 Fortune 500s since Cincy will lose two. ? 

Edited May 19, 20205 yr by KJP

11 minutes ago, KJP said:

 

So Cleveland would move to the top with #7 Fortune 500s since Cincy will lose two. ? 

Make that 3, Cincinnati Financial will likely be outside the 500 after this year as well.  They rise and fall with the stock market (faster than other insurance companies).

1 minute ago, KJP said:

 

So Cleveland would move to the top with #7 Fortune 500s since Cincy will lose two. ? 

 

It's impressive that TransDigM jumed ahead 123 spots from 2019 to 2020.

30 minutes ago, 10albersa said:

Make that 3, Cincinnati Financial will likely be outside the 500 after this year as well.  They rise and fall with the stock market (faster than other insurance companies).

 

Did I miss something? Other than AK Steel, which company is Cincy in danger of losing? Macy's is already reported for NY, so Cincy would drop to 7. Also, I doubt that CFC will drop completely off the list from the 400 spot.

1 hour ago, Gramarye said:

Last but not least: I'll admit I've never even heard of "O-I Glass."

 

It's the new name for Owens-Illinois.  I'm assuming you've heard of that.

 

2 hours ago, skiwest said:

I assume the recent acquisition of AK Steel by Cleveland Cliffs is not yet factored in.

 

That is correct.  AK Steel Holding should then basically be switched to Cleveland-Cliffs by next year.  I don't see anywhere else on the list (possibly Huntington) leaving so Cincinnati would basically have 7, Columbus and Cleveland tying at 6, and the rest.  Of course, this list will change dramatically due to COVID-19 next year, so we'll see who makes it.  The winner will likely be Kroger, the way things are going.

 

Toledo is quite impressive, BTW.

3 minutes ago, ColDayMan said:

 

It's the new name for Owens-Illinois.  I'm assuming you've heard of that.

 

 

That is correct.  AK Steel Holding should then basically be switched to Cleveland-Cliffs by next year.  I don't see anywhere else on the list (possibly Huntington) leaving so Cincinnati would basically have 7, Columbus and Cleveland tying at 6, and the rest.  Of course, this list will change dramatically due to COVID-19 next year, so we'll see who makes it.  The winner will likely be Kroger, the way things are going.

 

Toledo is quite impressive, BTW.

 

Yeah, that sounds right.

 

Toledo is a little powerhouse which makes me wish we had more posters from NW Ohio.

2 hours ago, Gramarye said:

Very surprised that, even with the "top 10" list ColDayMan posted really being the top 15 because of some ties (without adjusting following spots on the list accordingly), Washington didn't make the list.

 

 

For as much of the economy has been sucked into Seattle, a ton of it besides Amazon and Microsoft is a barrage of smaller/private app makers (back of house, so making apps for companies you've heard of), software engineering contractors and video game design studios. It really is Seattle+San Francisco/Silicon Valley.

Would someone want to compile the fortune 1000 list?  It'd be interesting to see how the cities are doing in that regard.

16 hours ago, cle_guy90 said:

Would someone want to compile the fortune 1000 list?  It'd be interesting to see how the cities are doing in that regard.

 

Ohio

16. Cardinal Health - $145,534

22. Marathon Petroleum  - $124,813

23. Kroger - $122,286

50. Procter & Gamble - $67,684

74. Nationwide - $43,982

86. Progressive - $39,022.3

180. Sherwin-Williams - $17,900.8

204. American Electric Power - $15,561.4

216. Goodyear Tire & Rubber - $14,745

224. Parker-Hannifin - $14,320.3

248. L Brands - $12,914.2

294. FirstEnergy - $10,850

325. Fifth Third Bancorp - $9,790

367. Dana - $8,620

383. American Financial Group - $8,237

390. Andersons - $8,170.2

400. Cincinnati Financial - $7,924.2

401. Western & Southern Financial Group - $7,920.5

407. J.M. Smucker - $7,838

411. KeyCorp - $7,694

431. Owens Corning - $7,160

441. Cintas - $6,892.3

453. O-I Glass - $6,691

456. Alliance Data Systems - $6,580.9

467. AK Steel Holding - $6,359.4

480. TravelCenters of America - $6,117.4

500. Huntington Bancshares - $5,655

508. RPM International - $5,564.5

513. TransDigm Group - $5,517.2

526. Big Lots - $5,323.2

543. Welltower - $5,121.3

584. Greif - $4,595

603. Vertiv Holdings - $4,431.2

607. Diebold Nixdorf - $4,408.7

661. Timken - $3,789.9

664. Worthington Industries - $3,759.6

678. Abercrombie & Fitch - $3,623.1

695. Medical Mutual of Ohio - $3,502.7

698. Designer Brands - $3,492.7

700. Applied Industrial Technologies - $3,472.7

715. Aleris - $3,375.9

717. Hexio - $3,374

724. PolyOne - $3,351.6

734. Hyster-Yale Materials Handling - $3,291.8

753. Scotts Miracle-Gro - $3,156

780. Mettler-Toledo International - $3,008.7

783. Lincoln Electric Holdings - $3,003.3

830. Cooper Tire & Rubber - $2,752.6

871. M/I Homes - $2,500.3

882. Verso - $2,444

908. Ohio National Mutual - $2,340.5

949. Nordson - $2,194.2

990. Express - $2,019.2

 

The bottom four all dropped in the rankings and it looks like no new additions (though I could be reading it wrong).

 

By Ohio Metros

1. Columbus MSA - 17

2. Cleveland-Elyria MSA - 14

3. Cincinnati MSA - 9

4. Toledo MSA - 5

5. Akron MSA - 2

6. Findlay MSA - 2

7. Canton-Massillon MSA - 2

8. Wooster (Orrville) MSA - 1

9. Dayton MSA - 1

^ 

TravelCenters of America Inc. will focus on franchising

TravelCenters of America Inc. (Nasdaq: TA), the Westlake-based company that operates truck stops in 44 states, announced Wednesday, May 20, that it expects to add at least 19 franchisee-run travel centers by the end of the first quarter of 2021.

https://www.crainscleveland.com/retail/travelcenters-america-inc-will-focus-franchising

https://www.cleveland.com/business/2020/09/travelcenters-of-america-hitting-stride-during-transformation-ceo-pertchik-says.html

On 5/19/2020 at 10:49 AM, KJP said:

 

So Cleveland would move to the top with #7 Fortune 500s since Cincy will lose two. ? 

RPM (once known as Republic Powdered Metals  🙂 ) might make it into the 500 if their sales growth matches Sherwin Williams'. 

The 2021 Fortune 500 list is out and Ohio lost 2 Fortune 500s since 2020 but we're still in 5th place nationally.  Cleveland-Cliffs BARELY made it off the list at #501.

 

https://fortune.com/fortune500/2021/search/?hqstate=OH

 

Top 15 States 2021

1 (Tie). California – 53

1 (Tie). New York – 53

3. Texas – 49

4. Illinois – 38

5. Ohio – 25

6. Pennsylvania – 24

7. Virginia – 22

8. Florida – 20

9 (Tie). Georgia – 18

9 (Tie). Massachusetts – 18

9 (Tie). Minnesota – 18

12. Michigan – 17

13. New Jersey – 16

14. Connecticut – 14

15. North Carolina – 13

 

Ohio Metropolitan/Micropolitan Areas 2021

1. Cincinnati - 7

2 (Tie). Cleveland - 5

2 (Tie). Columbus - 5

4. Toledo - 4

5. Akron - 2

6 (Tie). Findlay - 1

6 (Tie). Wooster - 1

 

Ohio 2021 Fortune 500 List

14. Cardinal Health

17. Kroger

32. Marathon Petroleum

43. Procter & Gamble

74. Progressive

76. Nationwide

162. Sherwin-Williams

204. American Electric Power

223. Parker-Hannifin

246. Goodyear Tire & Rubber

257. L Brands

294. FirstEnergy

358. Fifth Third Bancorp

366. Andersons

374. Western & Southern Financial Group

376. American Financial Group

378. J.M. Smucker

386. Cincinnati Financial

396. KeyCorp

408. Dana

410. Cintas

413. Owens Corning

449. Big Lots

455. O-I Glass

489. RPM International

Does Cliffs' ranking include AK Steel and ArcelorMittal USA? I thought those acquisitions pushed it well into the 500.

9 hours ago, KJP said:

Does Cliffs' ranking include AK Steel and ArcelorMittal USA? I thought those acquisitions pushed it well into the 500.

When did the acquisition finalize?  According to Fortune, this list is based off data ending March 31.   

I thought Cleveland had moved ahead of Cincinnati, or was at least tied.

 

Edited June 3, 20214 yr by skiwest

According to the Cincinnati Business Courier, AK Steel appeared on the 2020 list but not 2021 as the acquisition by Cleveland Cliffs had taken place:

 

https://www.bizjournals.com/cincinnati/news/2021/06/02/cincinnati-s-fortune-500-company-count-declines.html

1 hour ago, skiwest said:

I thought Cleveland had moved ahead of Cincinnati, or was at least tied.

 

I think you should count Wooster as part of the Cleveland market too.

 

Also, I am impressed by the Toledo area. Defintietely punching above its weight. Tied with Columbus if you throw Marathon into that mix.

1 hour ago, Brutus_buckeye said:

I think you should count Wooster as part of the Cleveland market too.

Wayne County, added about a year ago, is part of the Cleveland CSA; so Wooster counts. Findlay, otoh, does NOT count, pace Mary Vanac, who reported otherwise.

 

Close, but no cigar:  Cleveland Cliffs ranked 501st. Transdigm ranked 516; Travel Corp of America in Westlake ranked 540. Wait 'til next year.

1 hour ago, ink said:

According to the Cincinnati Business Courier, AK Steel appeared on the 2020 list but not 2021 as the acquisition by Cleveland Cliffs had taken place:

 

https://www.bizjournals.com/cincinnati/news/2021/06/02/cincinnati-s-fortune-500-company-count-declines.html

So if AK Steel is off the 2021 list due to acquisition by Cleveland Cliffs, why is Cleveland Cliffs not on the 2021 list?  

Revenue must have went down due to COVID factory closures.

46 minutes ago, skiwest said:

So if AK Steel is off the 2021 list due to acquisition by Cleveland Cliffs, why is Cleveland Cliffs not on the 2021 list?  

 

CLF+AK wasn't enough to kick them over 500; Arcelor IS enough but the Arcelor acquisition closed in mid-December, 2020 and half a month's added revenue wasn't quite enough to get CLF over 500.  Next year it will be.

Cleveland Cliffs' growth rate was very impressive.  Revenue growth percentage wise they ranked 7th.

 

https://fortune.com/fortune500/2021/search/?revchange=desc

 

 

Wait how can revenue be up that much yet the company drops in ranking as compared to 2019? So everyone else's revenue went up too? That can't be true if they're 7th in revenue growth percentage.

21 hours ago, GCrites80s said:

Wait how can revenue be up that much yet the company drops in ranking as compared to 2019? So everyone else's revenue went up too? That can't be true if they're 7th in revenue growth percentage.

 

https://fortune.com/fortune500/2020/search/?hqstate=OH

 

Something doesn't quite add up.  Cleveland Cliffs was not even in the full Fortune 1000 list last year, but if you do the math on the % increase of their revenue, they should be.

 

The increase in revenue ranking is on a % basis.  They apparently did 169% more revenue in 2020 than in 2019, but the rankings come out the following year.  Although, thinking about the math, I think I'm doing it wrong.  If they did $2bn in revenue in 2019 and then $5.354bn in 2020, that's a 168% increase in revenue.  So, yeah, that would have kept them out of the Fortune 1000 last year.