雅虎香港財經 25 Biggest Virginia Companies and Stocks
In this article, we will be taking a look at the 25 biggest Virginia companies and stocks. To skip our detailed analysis, you can go directly to see the 5 biggest Virginia companies and stocks.
If all U.S. states were countries, Virginia would be the 34th biggest country in the world with a GDP of $605 billion in 2021. This means that the state ranked higher than many advanced economies in the world including Belgium, Israel, Norway and Australia. A diverse economy in Virginia means that the biggest Virginia companies and stocks operate in various industries and are all important contributors to Virginia's GDP.
Surprisingly or unsurprisingly, Virginia is the biggest defense spender in the country, spending $62.7 billion on defense in 2021, according to the U.S. Department of Defense. Surprising because Virginia has only the 12th highest population in the country and 13th by GDP. Unsurprising because some of the biggest defense companies, not just in the U.S. but in the world, are located in the state and are among its biggest companies. At 10.2%, Virginia's defense spending is also the highest in the country as a percentage of its GDP, and contributes to around 11.2% of total U.S. defense spending. In terms of number of defense personnel, it has the second highest number in the country at over 250,000.
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Virginia is also home to a large number of tech workers and according to CompTIA, is home to more than 350,000 tech workers while its concentration of tech workers, at 8.7%, is second only to Washington. In absolute terms, Virginia ranks fifth in terms of states by net tech employment after the four biggest states in the country.
In November 2022, Virginia's unemployment rate was 2.8% with a civilian labor force of 4.3 million people. Despite being quite low, the state's unemployment rate has increased slightly from the previous month. However, it is still among the lowest among all the states because of which the it looks in a good state heading into economic uncertainty in 2023. According to Tom Barkin, the President of the Federal Reserve Bank of Richmond, while inflation is still quite high, the pace of the increase has slowed down which bodes well as a recession looks imminent.
Ensuring that businesses are able to grow and compete efficiently is important to ensure proper contribution to the state's GDP and allow for its growth which is why Virginia provides several opportunities for businesses which aim to reduce costs of either opening or expanding facilities and providing incentives to employers. In fact, according to CNBC, Virginia is the third best state for business. Incentives include discretionary incentives, infrastructure assistance and various corporate income tax credits and property tax incentives.
The biggest Virginia companies and stocks have a combined revenue of $425 billion and a market cap over $525 billion. To determine these companies, we selected the 25 biggest companies by revenue from Fortune 500 and then determined their latest market cap from Yahoo Finance. For companies which weren't listed, we used their rank based on revenue. In the last year, the average returns for these stocks were -1.1%. For the rest, we assigned 60% weightage to revenue and 40% to market cap. So, let's now take a look at the top Virginian companies, starting with:
25. Maximus, Inc. (NYSE:MMS)
Total revenue (in billions): $4.3
Market cap as at 15th Jan 2023 (in billions): $4.6
Maximus, Inc. (NYSE:MMS) is a government services company which has operations in Australia, the United Kingdom and Canada in addition to the United States. In the last one year, Maximus, Inc. (NYSE:MMS) saw its share price fall by 5.6%.
24. ASGN Incorporated (NYSE:ASGN)
Total revenue (in billions): $4.3
Market cap as at 15th Jan 2023 (in billions): $4.3
ASGN Incorporated (NYSE:ASGN) is a tech company which works with businesses to realize transformation and digital innovation. ASGN Incorporated (NYSE:ASGN) has seen its share price decline by 24.4% in the previous year.
23. Arko Corp. (NASDAQ:ARKO)
Total revenue (in billions): $6.4
Market cap as at 15th Jan 2023 (in billions): $1.0
Arko Corp. (NASDAQ:ARKO) is one of the biggest operators of convenience stores in the U.S. In the last one year, Arko Corp. (NASDAQ:ARKO) has seen its market cap increase slightly by 1.6%.
22. Beacon Roofing Supply, Inc. (NASDAQ:BECN)
Total revenue (in billions): $6.8
Market cap as at 15th Jan 2023 (in billions): $3.6
Beacon Roofing Supply, Inc. (NASDAQ:BECN) sells both residential and non-residential roofing products in North America. Beacon Roofing Supply, Inc.'s (NASDAQ:BECN) share price has barely changed in the last year.
21. CACI International Inc (NYSE:CACI)
Total revenue (in billions): $6.0
Market cap as at 15th Jan 2023 (in billions): $6.9
CACI International Inc (NYSE:CACI) is an information technology company which recently won a $2.25 billion defense counterintelligence and security agency background investigation fieldwork contract. The past one year has seen CACI International Inc's (NYSE:CACI) share price improve by 5.2%.
20. Science Applications International Corporation (NYSE:SAIC)
Total revenue (in billions): $7.4
Market cap as at 15th Jan 2023 (in billions): $5.8
Science Applications International Corporation (NYSE:SAIC) is a major Virginian tech company with over 26,000 employees. Science Applications International Corporation (NYSE:SAIC) manages tech support for more than 60,000 airmen and guardians across several installations. In the last year, Science Applications International Corporation's (NYSE:SAIC) stock value jumped by 20.3%.
19. Genworth Financial, Inc. (NYSE:GNW)
Total revenue (in billions): $7.9
Market cap as at 15th Jan 2023 (in billions): $2.7
Genworth Financial, Inc. (NYSE:GNW) is an insurance company and among the biggest Virginia companies and stocks. Surprisingly for an insurance company, Genworth Financial, Inc. (NYSE:GNW) actually gained 25.4% in market cap in the last year.
18. Owens & Minor, Inc. (NYSE:OMI)
Total revenue (in billions): $9.8
Market cap as at 15th Jan 2023 (in billions): $1.5
Owens & Minor, Inc. (NYSE:OMI) is a healthcare company with more than 17,000 employees and a presence in over 70 countries. Owens & Minor, Inc. (NYSE:OMI) downgraded its EPS and revenue guidance stating that healthcare providers already had stockpiles of equipment, the result of which was a decline of 53.9% in the last year alone.
17. Hilton Worldwide Holdings Inc. (NYSE:HLT)
Total revenue (in billions): $5.8
Market cap as at 15th Jan 2023 (in billions): $37.0
Hilton Worldwide Holdings Inc. (NYSE:HLT) is one of the biggest hotel chains in the world and owns several popular hotel brands including Conrad Hotel & Resorts, DoubleTree by Hilton and Embassy Suites Hotels. In the last one year, Hilton Worldwide Holdings Inc.'s (NYSE:HLT) stock value fell by 5.29% even as the hospitality industry resumed normal operations after more than 2 years.
16. Booz Allen Hamilton Holding Corporation (NYSE:BAH)
Total revenue (in billions): $7.9
Market cap as at 15th Jan 2023 (in billions): $12.6
Booz Allen Hamilton Holding Corporation (NYSE:BAH) is a government and military contractor which specializes in intelligence. Booz Allen Hamilton Holding Corporation (NYSE:BAH) has over 80 offices globally and in the previous year, its share price improved by 7.9%.
15. Huntington Ingalls Industries, Inc. (NYSE:HII)
Total revenue (in billions): $9.5
Market cap as at 15th Jan 2023 (in billions): $8.9
Defense companies dominate our list of the biggest Virginia companies and stocks and Huntington Ingalls Industries, Inc. (NYSE:HII) is the biggest largest military shipbuilding company in the country. Keeping in trend with a great 2022 for defense companies, Huntington Ingalls Industries, Inc. (NYSE:HII) saw its share price improve by 14.1%.
14. NVR, Inc. (NYSE:NVR)
Total revenue (in billions): $9.0
Market cap as at 15th Jan 2023 (in billions): $16.0
NVR, Inc. (NYSE:NVR) is the biggest home construction company in Virginia with operations in 14 countries and around 7,000 employees. In the previous year, NVR, Inc.'s (NYSE:NVR) market cap declined by 9.2%.
13. DXC Technology Company (NYSE:DXC)
Total revenue (in billions): $17.7
Market cap as at 15th Jan 2023 (in billions): $6.6
DXC Technology Company (NYSE:DXC) is an information technology company with over 130,000 employees and operations in more than 70 countries. Currently, HPE is facing a lawsuit for allegedly misleading DXC Technology Company (NYSE:DXC) investors. In the previous year, DXC Technology Company's (NYSE:DXC) share price fell by 11.5%.
12. The AES Corporation (NYSE:AES)
Total revenue (in billions): $11.1
Market cap as at 15th Jan 2023 (in billions): $18.6
The AES Corporation (NYSE:AES) is the second biggest utility and power company in Virginia. In the last one year, The AES Corporation's (NYSE:AES) stock value has risen by 23.3%.
11. Leidos Holdings, Inc. (NYSE:LDOS)
Total revenue (in billions): $13.7
Market cap as at 15th Jan 2023 (in billions): $13.4
Leidos Holdings, Inc. (NYSE:LDOS) is a defense and aviation company though not as big as some of the others in our list. Most top defense companies have seen their share prices jump in the last year following Russia's invasion of Ukraine in February 2022, and Leidos Holdings, Inc. (NYSE:LDOS) saw its market cap improve by 5.5%.
10. Markel Corporation (NYSE:MKL)
Total revenue (in billions): $12.8
Market cap as at 15th Jan 2023 (in billions): $19.4
Markel Corporation (NYSE:MKL) engages in the insurance and investment industry and currently has around 19,000 employees. The 10 biggest Virginia companies and stocks have mostly had a good past year, and Markel Corporation (NYSE:MKL) is no exception, gaining 14.3% in market value.
9. CarMax, Inc. (NYSE:KMX)
Total revenue (in billions): $20.1
Market cap as at 15th Jan 2023 (in billions): $10.3
CarMax, Inc. (NYSE:KMX) is one of the biggest used vehicle retailers in the country, as evidenced by its revenue of more than $20 billion, contributed from its 240 locations across the country. While it also sold new vehicles for over two decades, CarMax, Inc. (NYSE:KMX) closed its last new vehicle dealership in 2021. CarMax, Inc. (NYSE:KMX) cited high inflation and lower buyer confidence as the reason why its financial performance has been impacted, resulting in a fall of 41.1% in share price.
8. Performance Food Group Company (NYSE:PFGC)
Total revenue (in billions): $30.4
Market cap as at 15th Jan 2023 (in billions): $9.4
Performance Food Group Company (NYSE:PFGC) is a distributor of various food products and currently has more than 22,000 employees. Performance Food Group Company (NYSE:PFGC) beat most estimates in 2022 which resulted in a massive gain of 28.3% in share price in the last year.
7. Dominion Energy, Inc. (NYSE:D)
Total revenue (in billions): $14.2
Market cap as at 15th Jan 2023 (in billions): $52.4
Dominion Energy, Inc. (NYSE:D) is the biggest power and energy company in Virginia and among the biggest Virginia companies and stocks. Dominion Energy, Inc. (NYSE:D) lost 19.9% of its value in the last year.
6. Dollar Tree, Inc. (NASDAQ:DLTR)
Total revenue (in billions): $26.3
Market cap as at 15th Jan 2023 (in billions): $32.6
Dollar Tree, Inc. (NASDAQ:DLTR) is a chain of discount stores and operates more than 15,100 stores across most states in the U.S. and has some operations in Canada as well. Increasing its price to $1.25 from $1 saw suspicion from analysts at first, but was later revealed to be an excellent move as Dollar Tree, Inc.'s (NASDAQ:DLTR) share priced jumped by 14.1% in the previous one year.
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Disclosure: None. 20 Biggest Virginia Companies and Stocks is originally published at Insider Monkey.
