Fortive sales qualify for Fortune 500 | Taking Stock
For more than six months, I have been gushing that the newest, largest company in Snohomish County – Fortive – would probably qualify for inclusion on the 2017 Fortune 500 list of the largest American companies as measured by gross sales.
Fortive released its fiscal 2016 numbers on Tuesday, Feb. 7, and they look good enough.
For the year 2016, Fortive had $6.224 billion in sales. That would have been good enough to qualify as #416 on the Fortune 500 list. Fortive would have been just behind #415 Tractor Supply, which had $6.227 billion in sales, and ahead of #417 J.B. Hunt Transportation Services, which had $6.188 billion.
I am sure that most people in Snohomish County recognize the J.B. Hunt name since its containers often ride on BNSF trains that run through the county.
Fortive will join 10 other Washington companies on the Fortune 500 list. Fortive will be the first from Snohomish County. The other 10 are all headquartered in King County.
Very likely, the Fortune 500 list has inflated a bit. It does that over time, although some companies have higher revenue and some lower. So, Fortive will likely be a little further down the list than it would have been last year, but it shouldn't be lower than about #425.
Of the 11 Washington companies, Fortive will likely slot between Expeditors International and Alaska Air Group.
Alaska reported $5.931 billion in revenue for 2016. It will remain just below Fortive on the Fortune 500 list when the list is released in about two months. Next year, Alaska could make a big jump in the standings because it acquired Virgin America during the 4th quarter.
Expeditors was #390 last year and Alaska was #459 on the Fortune 500 list. Next year, Alaska will probably jump over Fortive because of the additional revenue generated by the Virgin America acquisition.
Costco, Amazon.com and Microsoft are the big three Washington companies on the Fortune 500 list. Costco was #15, Amazon.com was #18 and Microsoft was #25 on last year's Fortune 500 list. No other Washington company was in the top 100. All but one of the Washington companies was in the top 400.
Starbucks, PACCAR, Nordstrom, Weyerhaeuser and Expedia are the other Washington companies in the Fortune 500.
For those who are wondering, former Washington company Boeing came in at #24, just ahead of Microsoft and behind Costco and Amazon.com last year.
On the 2017 Fortune 500 list, when it is released, Amazon.com will be the highest-ranked Washington company after reporting $135.987 billion in sales in 2016. Costco will be second in the state, and Microsoft third. Boeing will remain just ahead of Microsoft on the national list.