Ohio is among the top ten states in the U.S. in terms of GDP size. It is seen as the Nation’s Industrial Capital and is home to six of the top 146 public school national universities in the country. Banking and insurance, motor vehicle manufacturing, research and development, and steel production are the dominant industries in the state. Let’s take a look at the ten most profitable companies in Ohio.
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Ten Most Profitable Companies In Ohio
We have referred to the latest available profit numbers (2020) to rank the ten most profitable companies in Ohio. Following are the ten most profitable companies in Ohio:
Founded in 1970, it is a health care infrastructure company. The company has the following business segments – Triple-net, Outpatient Medical and Seniors Housing Operating. In 2020, it reported revenue of $4.6 billion, down from $5.11 billion in 2019. The shares of the company are up more than 30% YTD and over 14% in the last three months. Welltower is headquartered in Toledo, Ohio.
Founded in 1918, this company makes motion and control technologies and systems. Parker Hannifin also provides engineered solutions for aerospace, industrial and industrial markets. In 2020, it reported revenue of $13.7 billion, down from $14.32 billion in 2019. The shares of the company are up more than 5% YTD but are down over 9% in the last three months. Parker Hannifin has its headquarters in Cleveland.
Founded in 1968, this company offers property casualty and life insurance services. Cincinnati Financial has the following business segments – Personal Lines Insurance, Life Insurance, Investment, Commercial Lines Insurance and Excess and Surplus Lines Insurance. In 2020, it reported revenue of $7.54 billion, down from $7.92 billion in 2019. The shares of the company are up more than 35% YTD and over 10% in the last three months. Cincinnati Financial has its headquarters in Fairfield, Ohio.
Founded in 1958, it is a bank holding company that offers a range of financial services, including investment management, retail and commercial banking, student loan refinancing, commercial leasing and more. In 2020, it reported revenue of $4.69 billion, down from $5.24 billion in 2019. The shares of the company are up more than 15% YTD but are down over 6% in the last three months. KeyCorp has its headquarters in Cleveland.
Founded in 1975, this company, along with its subsidiary Fifth Third Bank, offers banking & financial services, investment advisory services, retail & commercial banking and consumer lending services. In 2020, it reported revenue of $5.57 billion, down from $6.25 billion in 2019. The shares of the company are up more than 30% YTD but are down over 3% in the last three months. Fifth Third Bancorp is headquartered in Cincinnati.
Founded in 1883, this company operates supermarkets and multi-department stores. Kroger owns many popular brands, including Simple Truth, Simple Truth Organic, Check This Out…, Big K and Heritage Farm. In 2020, it reported revenue of $122.29 billion, up from $121.16 billion in 2019. The shares of the company are up more than 27% YTD and over 8% in the last three months. Kroger is headquartered in Cincinnati.
Founded in 1866, this company makes and trades paint and coatings. The company has the following business segments – Performance Coating Group, America Group, and Consumer Brands Group. In 2020, it reported revenue of $18.36 billion, up from $17.9 billion in 2019. The shares of the company are up more than 14% YTD and over 5% in the last three months. Sherwin-Williams is headquartered in Cleveland.
Founded in 1906, this company deals in the generation, transmission and distribution of electricity. The company has the following business segments – AEP Transmission Holdco, Generation & Marketing, Vertically Integrated Utilities and Transmission & Distribution Utilities. In 2020, it reported revenue of $14.91 billion, down from $15.54 billion in 2019. The shares of the company are up more than 5% YTD but are down over 1% in the last three months. American Electric Power is headquartered in Columbus, Ohio.
Founded in 1937, it is an insurance holding company. Together with its subsidiaries, Progressive offers personal and commercial insurance; property insurance; specialty property-casualty insurance, as well as related services. In 2020, it reported revenue of $42.64 billion, up from $39 billion in 2019. The shares of the company are down more than 2% YTD and over 3% in the last three months. Progressive is headquartered in Mayfield Village, Ohio.
Founded in 1837, this company offers branded consumers goods. The company has the following business segments – Fabric & Home Care; Baby, Feminine & Family Care; and Beauty; Grooming; Health Care. In 2020, it reported revenue of $70.95 billion, up from $67.68 billion in 2019. The shares of the company are up almost 1% YTD and over 2% in the last three months. Procter & Gamble has its headquarters in Cincinnati.
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