In this article, we will be taking a look at the 25 biggest Washington companies and stocks. To skip our detailed analysis, you can go directly to see the 5 biggest Washington companies and stocks.
If all U.S. states were countries, the state of Washington would be the 30th largest country in the world, with a GDP of $677 billion in 2021. This is aided by being home to some of the biggest and most valuable companies in the world, including one of only 4 companies in the world which have a market cap of more than $1 trillion. Home to two of the biggest tech companies in the world, Washington also has some of the highest concentration of STEM workers in the country.
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Several industries are extremely important to Washington’s GDP including agriculture/food manufacturing, aerospace, clean technology, information and communication technology, life science, maritime and of course the military/defense sectors. Washington is considered to be a global leader in aircraft and uncrewed aerial systems while the agriculture sector is home to around 300 crop commodities whose markets are continuing to expand growth including eliminating trade barriers, streamlined regulations and more efficient transportation in addition to ensuring that the state’s farmlands are protected. Clean technology has been a major focus for the state of Washington and innovation and growth in this sector, which is beneficial for reducing our impact on the planet, and incentives are offered in this respect which we’ll come back to later. But of course, the leading sector is information and technology, with the state benefitting from a wealth of talent located there.
Currently, the unemployment rate for the state of Washington is 4%, which is higher than the national average and ranks 33rd among all state in the country. This is despite the plethora of jobs created by the biggest Washington companies and stocks. This isn’t a recent trend, as historically, the state of Washington’s unemployment rate has generally been higher than the national average because of a high share of resource-based industries because of which employment rates fluctuate. This will of course not be helped by the state’s biggest company laying off 18,000 people.
To encourage businesses, Washington state provides various incentives and as mentioned earlier, there are specific incentives related to renewable energy including sales tax exemptions for qualifying solar equipment from July 2019 to December 2029 while the Modified Accelerated Cost Recovery System allowing business systems to deduct up to 85% of the cost of solar equipment from their tax liability over a period of 5 years.
The biggest Washington companies and stocks have combined revenues of well over $1 trillion while the combined market cap is close to $3.5 trillion, though a large majority of both of these numbers is derived from just the top 4 companies. For our ranking, we first selected all Washington companies included in Fortune 500 while scouring the internet for more top companies for which financial data is available, regardless of whether they’re listed or not. Their revenue was determined either from Fortune 500, Yahoo Finance, annual reports or press releases while market cap was confirmed form Yahoo Finance, with 60% weightage assigned to revenue and 40% to market cap. For companies which aren’t listed, ranking is based on revenue alone. So, let’s now take a look at Washington’s top companies, starting with:
25. Juul
Total revenue (in billions): $1
Market cap as at 19th Jan 2023 (in billions): $0.7
Juul is an electronic cigarette company which was formed after being spun off from Pax Labs back in 2017.
24. Smartsheet Inc. (NASDAQ:SMAR)
Total revenue (in billions): $0.6
Market cap as at 19th Jan 2023 (in billions): $5.6
Smartsheet Inc. (NASDAQ:SMAR) is a modern work and project management platform. In the last one year, Smartsheet Inc. (NASDAQ:SMAR) has seen its share price decline by 29%.
23. Tableau Software
Total revenue (in billions): $1.6
Market cap as at 19th Jan 2023 (in billions): N/A
Tableau Software was acquired by Salesforce, Inc. (NYSE:CRM) in 2019 for $15.7 billion. While FY revenue of Tableau Software isn’t known, we obtained the latest quarter sales of the company and prorated it to a full year.
22. PotlatchDeltic Corporation (NASDAQ:PCH)
Total revenue (in billions): $1.3
Market cap as at 19th Jan 2023 (in billions): $3.6
PotlatchDeltic Corporation (NASDAQ:PCH) is a foresting company which has 84% institutional ownership. In the last year, PotlatchDeltic Corporation (NASDAQ:PCH) has seen its market cap fall by 18.5%.
21. ZoomInfo Technologies Inc. (NASDAQ:ZI)
Total revenue (in billions): $0.7
Market cap as at 19th Jan 2023 (in billions): $11.5
ZoomInfo Technologies Inc. (NASDAQ:ZI) is different to Zoom Video Communications, with the former being a software and data company. The share price of ZoomInfo Technologies Inc. (NASDAQ:ZI) has declined by nearly half as it fell 47.2% in the last year.
20. Redfin Corporation (NASDAQ:RDFN)
Total revenue (in billions): $1.9
Market cap as at 19th Jan 2023 (in billions): $0.6
Redfin Corporation (NASDAQ:RDFN) operates a real estate brokerage and has close to 6,000 employees currently. A sell-of of Redfin Corporation (NASDAQ:RDFN) came after an analyst downgraded its share price citing fundamental flaws in the company’s core business. In the last one year, Redfin Corporation (NASDAQ:RDFN) had the worst performance of any stock in our list of the biggest Washington companies and stocks, and ended up losing around 82% of its market value.
19. TrueBlue, Inc. (NYSE:TBI)
Total revenue (in billions): $2.2
Market cap as at 19th Jan 2023 (in billions): $0.6
TrueBlue, Inc. (NYSE:TBI) provides specialized workforce solutions. Currently, TrueBlue, Inc. (NYSE:TBI) has over 800 locations in the U.S. and more than 95,000 clients globally. A poor 2022 has resulted in the share price of TrueBlue, Inc. (NYSE:TBI) declining by 29%.
18. eXp World Holdings, Inc. (NASDAQ:EXPI)
Total revenue (in billions): $3.8
Market cap as at 19th Jan 2023 (in billions): $2.1
eXp World Holdings, Inc. (NASDAQ:EXPI) operates a real estate brokerage platform allowing businesses to operate remotely. The performance of eXp World Holdings, Inc.’s (NASDAQ:EXPI) share price is the second-worst in our list, dropping by 50.5% in the last on year.
17. Monolithic Power Systems, Inc. (NASDAQ:MPWR)
Total revenue (in billions): $1.2
Market cap as at 19th Jan 2023 (in billions): $18.4
Monolithic Power Systems, Inc. (NASDAQ:MPWR) provides power management solutions and operates in 15 countries. In the previous one year, the share price of Monolithic Power Systems, Inc. (NASDAQ:MPWR) has fallen by 6%.
16. F5, Inc. (NASDAQ:FFIV)
Total revenue (in billions): $2.6
Market cap as at 19th Jan 2023 (in billions): $8.6
F5, Inc. (NASDAQ:FFIV) is a tech company which is among the biggest Washington companies and stocks. Currently, F5, Inc. (NASDAQ:FFIV) has more than 7,000 employees. A horrendous last year saw the market cap of F5, Inc. (NASDAQ:FFIV) plummet by 36.4%.
15. Seagen Inc. (NASDAQ:SGEN)
Total revenue (in billions): $1.6
Market cap as at 19th Jan 2023 (in billions): $24.1
Seagen Inc. (NASDAQ:SGEN) is the biggest biotech company in Washington which is working on the development of therapies for cancer treatment. The market price of Seagen Inc. (NASDAQ:SGEN) has basically remained unchanged in the last one year.
14. Puget Energy
Total revenue (in billions): $3.8
Market cap as at 19th Jan 2023 (in billions): N/A
Puget Energy is the oldest energy company in Washington and provides natural gas and electricity to the Puget Sound area.
13. Alaska Air Group, Inc. (NYSE:ALK)
Total revenue (in billions): $6.2
Market cap as at 19th Jan 2023 (in billions): $6.1
Among the richest airlines in the world, Alaska Air Group, Inc. (NYSE:ALK) runs Alaska Airlines and Horizon Air. Despite tourism recovering in 2022, airlines have suffered a torrid past year, and Alaska Air Group, Inc. (NYSE:ALK) saw its share price fell by 9.2%, though in the last six months, its market cap has increased by 13.7%.
12. Nordstrom, Inc. (NYSE:JWN)
Total revenue (in billions): $14.8
Market cap as at 19th Jan 2023 (in billions): $2.8
Nordstrom, Inc. (NYSE:JWN) is a luxury department store chain and has close to 500 locations. In the last one year, as inflation has increased and consumer spending has fallen, Nordstrom, Inc. (NYSE:JWN) saw its market cap fell by 20%.
11. Zillow Group, Inc. (NASDAQ:Z)
Total revenue (in billions): $8.1
Market cap as at 19th Jan 2023 (in billions): $10.0
Zillow Group, Inc. (NASDAQ:Z) is a tech real-estate marketplace company. While Zillow Group, Inc. (NASDAQ:Z) generally provides a platform for buyers and sellers of house to meet, it also engaged in a side hustle of buying more than 7,000 homes at above market price and offload them at higher prices, a $300 million fail as it ended up having to offload these houses at a lower price. Hence, it should come as no surprise that Zillow Group, Inc.’s (NASDAQ:Z) stock value plummeted by 21.9% in the last year.
10. Fortive Corporation (NYSE:FTV)
Total revenue (in billions): $5.3
Market cap as at 19th Jan 2023 (in billions): $23.6
Fortive Corporation (NYSE:FTV) is an industrial tech company which is among the biggest Washington companies and stocks. Like most stocks, Fortive Corporation (NYSE:FTV) saw its share price fall in the previous year, by 9.5%.
9. Expedia Group, Inc. (NASDAQ:EXPE)
Total revenue (in billions): $8.6
Market cap as at 19th Jan 2023 (in billions): $16
Expedia Group, Inc. (NASDAQ:EXPE) is an online travel company which owns various metasearch engines including Hotels.com, Expedia.com, CheapTickets and CarRentals.com among others. December 2022 was a particularly poor month for Expedia Group, Inc. (NASDAQ:EXPE) as analysts downgraded the stock and a looming recession have all resulted in Expedia Group, Inc.’s (NASDAQ:EXPE) market value declining by 38.9%.
8. Weyerhaeuser Company (NYSE:WY)
Total revenue (in billions): $10.2
Market cap as at 19th Jan 2023 (in billions): $22.9
The biggest timberland company in Washington and owning around 12.4 million acres of timberlands in the country, Weyerhaeuser Company (NYSE:WY) also manages 14 million acres of timberland in addition to what it owns. As housing concerns continue to increase, Weyerhaeuser Company (NYSE:WY) has continued to suffer, with its share price falling by almost 20% in the last year.
7. Expeditors International of Washington, Inc. (NASDAQ:EXPD)
Total revenue (in billions): $16.5
Market cap as at 19th Jan 2023 (in billions): $16.9
Expeditors International of Washington, Inc. (NASDAQ:EXPD) is a global logistics and freight forwarding company which has around 20,000 employees. In just the last one year, Expeditors International of Washington, Inc. (NASDAQ:EXPD) saw its share price increase by 10.7%.
6. PACCAR Inc (NASDAQ:PCAR)
Total revenue (in billions): $23.5
Market cap as at 19th Jan 2023 (in billions): $34.4
PACCAR Inc (NASDAQ:PCAR) is one of the biggest producers of medium and heavy-duty trucks globally and is also among the biggest Washington companies and stocks. In the previous one year, PACCAR Inc (NASDAQ:PCAR) saw its stock value increase by 4.6%.
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Disclosure: None. 25 Biggest Washington Companies and Stocks is originally published at Insider Monkey.
