19 MN Cos. in Fortune 500; 10 Move Up in Rank
Nineteen Minnesota companies made the Fortune 500 list of the largest public and closely held corporations in the United States based on revenue—and 10 of them moved up in rank.
The 19 companies constitute the exact same group of local giants that appeared on last year’s Fortune 500 list.
Minnetonka-based UnitedHealth Group, Inc., retained its spot as Minnesota’s highest-ranking company on the list. But it moved up five spots from last year, ranking 17th on the just-released list, thanks to an 8.5 percent increase in revenue between 2011 and 2012.
Ten of the 19 Minnesota companies on the list moved up in ranking from last year—some substantially. Ecolab posted the largest gains, moving from 365th last year to the 229th spot this year; its revenue climbed from $6.8 billion in 2011 to $11.8 billion in 2012 after it acquired Naperville, Illinois-based Nalco Holding Company in November 2011 in a deal valued at $8.3 billion. Other major gainers were C.H. Robinson Worldwide, Inc., and The Mosaic Company, each of which moved up 22 spots; Land O’Lakes, Inc., which moved up 16 spots; and General Mills, Inc., which moved up 12 spots. All four companies experienced an annual revenue increase of at least $1 billion over the past year.
Some companies, however, went down in ranking. Two struggling local companies that have made headlines recently are in that group: Best Buy Company, Inc., slid eight spots as its revenue decreased 10.3 percent year-over-year—and Supervalu, Inc., slid 11 spots as its revenue decreased 3.7 percent. Meanwhile, Xcel Energy, Inc., dropped 20 spots and Ameriprise Financial, Inc., moved down 15 spots.
Minnesota companies that made the 2013 list—along with their rankings, annual revenue, and position on last year’s list—are:
• 17: UnitedHealth Group, Inc., $110.6 billion (ranked 22nd last year)
• 36: Target Corporation, $73.3 billion (38th last year)
• 61: Best Buy Company, Inc., $45.1 billion (53rd last year)
• 69: CHS, Inc., $40.6 billion (78th last year)
• 86: Supervalu, Inc., $36.1 billion (75th last year)
• 101: 3M Company, $29.9 billion (102nd last year)
• 132: U.S. Bancorp, $22.2 billion (132nd last year)
• 169: General Mills, Inc., $16.7 billion (181st last year)
• 172: Medtronic, Inc., $16.5 billion (164th last year)
• 194: Land O’Lakes, $14.1 billion (210th last year)
• 229: Ecolab, Inc., $11.8 billion (365th last year)
• 237: C.H. Robinson Worldwide, Inc., $11.4 billion (259th last year)
• 246: The Mosaic Company, $11.1 billion (268th last year)
• 263: Ameriprise Financial, Inc., $10.3 billion (248th last year)
• 266: Xcel Energy, Inc., $10.1 billion (246th last year)
• 319: Hormel Foods Corporation, $8.2 billion (327th last year)
• 325: Thrivent Financial for Lutherans, $8 billion (332nd last year)
• 457: St. Jude Medical, Inc., $5.5 billion (437th last year)
• 500: Nash Finch Company, $4.8 billion (498th last year)
Wal-Mart had the top spot on this year’s Fortune 500 list, regaining its position from Exxon Mobile, which ranked first last year but was second this year. Chevron, Phillips66, and Berkshire Hathaway rounded out the top five.
See the entire Fortune 500 list here.