25 Biggest New Jersey Companies and Stocks
In this article, we will be taking a look at the 25 biggest New Jersey companies and stocks. To skip our detailed analysis, you can go directly to see the 5 biggest New Jersey companies and stocks.
If all U.S. states were countries, New Jersey would be the 28th biggest country in the world with a GDP of $683 billion in 2021. While it often plays second fiddle to its neighbor New York, New Jersey is actually an important contributor to the country's economy, and has the highest population density in the U.S. New Jersey consistently ranks among the highest in terms of per capita state GDP, while in 2020, the state was home to the highest number of millionaires per capita and per square mile, with the latter not being as surprising since it is the fifth smallest state by land.
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A diverse economy means that many different industries contribute to the state's GDP which include the pharmaceutical industry, information technology, biotech, chemical, tourism and many more, some of which feature in our list of the biggest New Jersey companies and stocks. In addition, agriculture may not be as important as it once was, but is still a major contributor to the company's GDP and is the second largest producer of blueberries in the country while being third in peaches and cranberries. Tech and research have always been important to the state's economy, with Thomas Edison inventing the light bulb in the state (though many believe that the idea was stolen from Tesla) while New Jersey is home to the highest engineers and scientists per square mile in the world.
Currently, New Jersey's unemployment rate stands at 3.4% which is 22nd among all states in the country. This is a major improvement from the previous month as nearly 12,000 nonfarm jobs were added in the month and is below the country's national unemployment rate of 3.7%. In fact, six out of the nine biggest industries in the state reported positive job growth including health services, business and professional services, construction, financial and trade, transportation and utilities.
The New Jersey Economic Development Authority works on assisting businesses in the state and has so far assisted nearly 400 companies with its assistance in 2019 being close to $250 million, which created 1,347 in the same year. Assistance can include tax credits which are granted to incentivize job creation in addition to capital investment, investment tools that will help develop the state's economy and financial resources for small businesses.
The 25 biggest New Jersey companies and stocks have combined revenues of over $418 billion while the combined market cap is over $1.25 trillion. The state is home to some of the most well-known companies not just in the U.S. but in the world. To determine these companies, we obtained a list of companies headquartered in New Jersey which are featured in Fortune 500 and then checked their market cap from Yahoo Finance, assigning 60% weightage to revenue and 40% to market cap. Since Fortune 500 didn't contain 25 companies, we then checked other major companies headquartered in New Jersey as well as their revenue and market cap, if listed. For companies which weren't listed, we calculated their ranking based on revenue alone.
25. Hovnanian Enterprises, Inc. (NYSE:HOV)
Total revenue (in billions): $2.8
Market cap as at 15th Jan 2023 (in billions): $0.3
Hovnanian Enterprises, Inc. (NYSE:HOV) is a real estate company and among a few such companies in our list of the biggest New Jersey companies and stocks. A horrendous 2022 has resulted in Hovnanian Enterprises, Inc.'s (NYSE:HOV) market cap get halved in the last year.
24. New Jersey Resources Corporation (NYSE:NJR)
Total revenue (in billions): $2.2
Market cap as at 15th Jan 2023 (in billions): $4.9
New Jersey Resources Corporation (NYSE:NJR) is an energy services company with just over 1,250 employees. A strong 2022 has seen the market value of New Jersey Resources Corporation (NYSE:NJR) jump massively by 29% in the past one year.
23. Valley National Bancorp (NYSE:VLY)
Total revenue (in billions): $1.4
Market cap as at 15th Jan 2023 (in billions): $5.7
Valley National Bancorp (NYSE:VLY) is a bank holding company and among the biggest New Jersey companies and stocks. Financial institutions haven't fared very well in 2022 and Valley National Bancorp (NYSE:VLY) has had its market cap decrease by 24.5%.
22. Selective Insurance Group, Inc. (NASDAQ:SIGI)
Total revenue (in billions): $3.4
Market cap as at 15th Jan 2023 (in billions): $5.8
Selective Insurance Group, Inc. (NASDAQ:SIGI) is one of the biggest insurance companies in the state of New Jersey. Founded a little under a century ago, Selective Insurance Group, Inc. (NASDAQ:SIGI) saw its share price increase significantly by 20.7%.
21. Conduent Incorporated (NASDAQ:CNDT)
Total revenue (in billions): $4.1
Market cap as at 15th Jan 2023 (in billions): $1.0
Conduent Incorporated (NASDAQ:CNDT) is a business services provider which was formed just 5 years ago. Currently, Conduent Incorporated (NASDAQ:CNDT) has operations in more than 22 countries and over 31,000 employees. In the last one year, Conduent Incorporated's (NASDAQ:CNDT) market cap fell by 9.7%.
20. Anywhere Real Estate Inc. (NYSE:HOUS)
Total revenue (in billions): $8.0
Market cap as at 15th Jan 2023 (in billions): $0.9
Anywhere Real Estate Inc. (NYSE:HOUS) is a real estate services company with close to 10,000 employees. A 56% decline in share price signifies a tough 2022 for Anywhere Real Estate Inc. (NYSE:HOUS).
19. Catalent, Inc. (NYSE:CTLT)
Total revenue (in billions): $4.0
Market cap as at 15th Jan 2023 (in billions): $8.8
Catalent, Inc. (NYSE:CTLT) is one of several pharmaceutical companies among the biggest New Jersey companies and stocks. An earnings decline because of macroeconomic conditions has seen the share price of Catalent, Inc. (NYSE:CTLT) plunge by 54%.
18. Verisk Analytics, Inc. (NASDAQ:VRSK)
Total revenue (in billions): $3.0
Market cap as at 15th Jan 2023 (in billions): $28.8
Verisk Analytics, Inc. (NASDAQ:VRSK) is a data analytics and risk assessment firm with over 9,000 employees. In just the last year, Verisk Analytics, Inc. (NASDAQ:VRSK) has seen its share price fall by 8.5%.
17. Bed Bath & Beyond Inc. (NASDAQ:BBBY)
Total revenue (in billions): $9.2
Market cap as at 15th Jan 2023 (in billions): $0.4
Bed Bath & Beyond Inc. (NASDAQ:BBBY) operates over 950 locations across the country and has more than 55,000 employees. 2023 has seen Bed Bath & Beyond Inc. (NASDAQ:BBBY) announce to investors that there is "substantial doubt" in the company being able to continue operations. Hence it should come as no surprise that the last year has seen Bed Bath & Beyond Inc. (NASDAQ:BBBY) lose nearly 70% of its market value.
16. American Water Works Company, Inc. (NYSE:AWK)
Total revenue (in billions): $3.9
Market cap as at 15th Jan 2023 (in billions): $28.9
American Water Works Company, Inc. (NYSE:AWK) is a utility company which provides water and related services to approximately 14 million people. The last one year saw American Water Works Company, Inc.'s (NYSE:AWK) share price decline by 2.9%.
15. Church & Dwight Co., Inc. (NYSE:CHD)
Total revenue (in billions): $5.2
Market cap as at 15th Jan 2023 (in billions): $20.0
Church & Dwight Co., Inc. (NYSE:CHD) sells consumer goods and owns various popular brands including Arms & Hammer, OxiClean, Trojan and First Response. Even though it is among the biggest New Jersey companies and stocks, Church & Dwight Co., Inc. (NYSE:CHD) saw its market value fall by 17.9% in the last one year.
14. Campbell Soup Company (NYSE:CPB)
Total revenue (in billions): $8.5
Market cap as at 15th Jan 2023 (in billions): $16.5
Campbell Soup Company (NYSE:CPB) is a processed food and snacks company and has done incredibly well to maintain its brand image. A solid 2022 has seen Campbell Soup Company's (NYSE:CPB) market value increase by 18.2%.
13. Avis Budget Group, Inc. (NASDAQ:CAR)
Total revenue (in billions): $9.3
Market cap as at 15th Jan 2023 (in billions): $7.9
Avis Budget Group, Inc. (NASDAQ:CAR) is among the largest car rental companies in the world and owns many famous brands including Avis, Budget Rent a Car, Budget Truck Rental and Zipcar. In the previous one year, Avis Budget Group, Inc. (NASDAQ:CAR) has seen its market value improve by 1.5%.
12. Burlington Stores, Inc. (NYSE:BURL)
Total revenue (in billions): $9.3
Market cap as at 15th Jan 2023 (in billions): $14.7
Burlington Stores, Inc. (NYSE:BURL) is an off-price department store retailer which has over a thousand stores in more than forty states across the country. One of the biggest New Jersey companies and stocks, Burlington Stores, Inc. (NYSE:BURL) has seen its market value improve by 5.1% in the last one year.
11. Zoetis Inc. (NYSE:ZTS)
Total revenue (in billions): $7.8
Market cap as at 15th Jan 2023 (in billions): $75.0
Zoetis Inc. (NYSE:ZTS) is the biggest producer in the world for medicine and vaccinations for all pets. Initially, Zoetis Inc. (NYSE:ZTS) was a subsidiary of Pfizer but was spun-off in the early 2010s. A poor 2022 has seen Zoetis Inc.'s (NYSE:ZTS) share price fall by 20.9%.
10. Quest Diagnostics Incorporated (NYSE:DGX)
Total revenue (in billions): $10.8
Market cap as at 15th Jan 2023 (in billions): $16.8
Quest Diagnostics Incorporated (NYSE:DGX) is a is a leading provider of diagnostic information services which serves approximately half of the total hospitals and physicians in the country. Quest Diagnostics Incorporated (NYSE:DGX) also claims to have access to 90% of U.S. insured lives. In the last one year, Quest Diagnostics Incorporated (NYSE:DGX) has seen its market cap improve by 6.4%.
9. PBF Energy Inc. (NYSE:PBF)
Total revenue (in billions): $27.3
Market cap as at 15th Jan 2023 (in billions): $5.5
The second largest energy company in the state of New Jersey, PBF Energy Inc. (NYSE:PBF) is a petroleum refiner and supplies various petroleum products. As U.S. refineries have run at record levels and companies have boosted profits, PBF Energy Inc. (NYSE:PBF) had an incredible year with stock rising by 122.9%.
8. Public Service Enterprise Group Incorporated (NYSE:PEG)
Total revenue (in billions): $9.7
Market cap as at 15th Jan 2023 (in billions): $31.3
Public Service Enterprise Group Incorporated (NYSE:PEG) is the biggest energy company in New Jersey and one of the biggest New Jersey companies and stocks. Public Service Enterprise Group Incorporated (NYSE:PEG) saw a decline of 3.4% in market value in the last year.
7. Cognizant Technology Solutions Corporation (NASDAQ:CTSH)
Total revenue (in billions): $18.5
Market cap as at 15th Jan 2023 (in billions): $32.9
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is an IT and consulting company which has around 350,000 employees. In just one year, the share price of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) has fallen by 26.6%.
6. WakeFern
Total revenue (in billions): $18.6
Market cap as at 15th Jan 2023 (in billions): N/A
WakeFern Food Corporation is the fourth largest food cooperative and currently owns and operates 362 supermarkets with 80,000 employees.
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Disclosure: None. 25 Biggest New Jersey Companies and Stocks is originally published at Insider Monkey.
