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The 2023 IW U.S. 500: A Radically Changed List that Asks Which Top Companies Really Manufacture Anything

May 24, 2023
Top names such as Apple, Nike, Advanced Micro Devices and about 80 others are off IndustryWeek's annual assessment of the manufacturing world because they really don't make anything.

Welcome to the 2023 IW U.S. 500 ranking of the largest public manufacturers in the country based on data provided by S&P Global Market Intelligence.

This year’s list is radically different from previous entries. This list should be a measurement of the largest manufacturing companies in the country, something we define as a company that produces a physical product that is the result of value-added activity. That’s a test that 73 companies, many of which had been top-performing manufacturers in recent years, failed.

The highest profile companies—Apple and Nike, for example—outsource their manufacturing to third parties. So, while they sell a physical product, they don’t “produce” one.

2023 IW U.S. 500 Coverage

This database includes the full ranking of this year’s class—sortable by ranking, industry and financial performance (based on 2021 performance).

To sort the list, click the column heading of the data you’d like to re-order.

* For several companies, the most recent annual data is from their 2023 fiscal year reports. Though still early in the calendar year, Dell Technologies Inc., Constellation Brands, Qorvo Inc., Steelcase Inc., Vista Outdoor Inc., Apogee Enterprises Inc. and Prestige Consumer Healthcare Inc. have already reported fiscal 2023 numbers.

All data courtesy of S&P Global Market Intelligence

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