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Fourteen Connecticut companies earned spots on Fortune magazine’s top 500 largest business list for 2023.
The state’s only company in the top 20 was Bloomfield-based health insurer Cigna Group, which saw $180.5 billion in revenue in 2022, a 3.7% increase from the prior year. The company, which has more than 70,000 employees, fell three places from 2022, ranking No. 15 this year.
The second-largest company in Connecticut was Stamford-based Charter Communications, with $54 billion in revenue, landing at No. 79, down 10 places from 2022, according to the list.
Tobacco company Philip Morris International, which moved from Manhattan to Stamford last year, clocked in at No. 128, making it the state’s third-largest company, with $31.8 billion in revenue. It fell 18 places in the rankings.
The fourth-largest company in the state was Hartford Financial Services Group, with $22.4 billion in revenue (No. 174) followed by Stanley Black & Decker with $18 billion in revenue (No. 227).
The company in Connecticut that saw the largest rise in the rankings was Norwalk-based travel fare aggregator Bookings Holdings, which moved up 97 places to Nov. 243 with $17 billion in revenue. The company owns Priceline.com and Kayak.com.
The state’s biggest loser among the top 500 was Greenwich-based logistics company XPO, which fell 187 places to No. 478 with $7.7 billion in revenue – a decrease of nearly 40%. However, XPO’s profits increased 98% to $666 million.
Other companies in the top 500 were:
235. Synchrony Financial - $17.5 billion in revenue
306. Otis Worldwide - $13.7 billion in revenue
326. Amphenol - $12.6 billion in revenue
355. United Rentals - 11.6 billion in revenue
367. W.R. Berkley - $11.2 billion in revenue
369. EMCOR Group - $11.1 billion revenue
423. GXO Logistics - $9 billion in revenue
Click here to see the full list.
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The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
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