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

• 2023 IW U.S. 500: Oil & Gas Production Dominate Manufacturing
• The 2023 IW U.S. 500: A Radically Changed List that Asks Which Top Companies Really Manufacture Anything
• PDF Download of the IW U.S. 500 List
• IW U.S. 500 Rejects: Apple, Nike, Hasbro and 68 Other Companies that Don't Make Their Own Products Removed from Manufacturers List
• IW U.S. 500 Rejects List: Companies Pulled from the List Because They Don't Manufacture Products

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