Most Concentrated Companies by Revenue
Companies with highest revenue segment concentration, meaning they depend heavily on one or two primary business segments.
Top 50 by Concentration Index
| # | Company | Score | Level | Top Segment | Revenue |
|---|---|---|---|---|---|
| 1 | RSGRepublic Services | 100 | Highly Concentrated | 100% | $16.22B |
| 2 | LOWLowe's | 100 | Highly Concentrated | 100% | $83.67B |
| 3 | ERIEErie Indemnity | 100 | Highly Concentrated | 100% | $3.80B |
| 4 | EHCEncompass Health | 100 | Highly Concentrated | 100% | $5.37B |
| 5 | AWKAmerican Water Works | 100 | Highly Concentrated | 100% | $4.30B |
| 6 | TRGPTarga Resources | 100 | Highly Concentrated | 100% | $14.03B |
| 7 | WDCWestern Digital | 100 | Highly Concentrated | 100% | $9.52B |
| 8 | PNCPNC Financial Services | 100 | Highly Concentrated | 100% | $1.60B |
| 9 | VOYAVoya Financial | 100 | Highly Concentrated | 100% | $1.00B |
| 10 | PNWPinnacle West Capital | 100 | Highly Concentrated | 100% | $5.13B |
| 11 | HLTHilton Worldwide | 100 | Highly Concentrated | 100% | $8.78B |
| 12 | DASHDoorDash | 100 | Highly Concentrated | 100% | $10.72B |
| 13 | ARDTArdent Health, Inc. | 100 | Highly Concentrated | 100% | $5.97B |
| 14 | TMUST-Mobile US | 100 | Highly Concentrated | 100% | $81.40B |
| 15 | WPCW. P. Carey | 100 | Highly Concentrated | 100% | $1.58B |
| 16 | ELANElanco | 100 | Highly Concentrated | 100% | $4.44B |
| 17 | CMGChipotle Mexican Grill | 100 | Highly Concentrated | 100% | $11.11B |
| 18 | EVRGEvergy | 100 | Highly Concentrated | 100% | $5.85B |
| 19 | TGTTarget Corporation | 100 | Highly Concentrated | 100% | $106.57B |
| 20 | ZGZILLOW GROUP, INC. | 100 | Highly Concentrated | 100% | $2.24B |
| 21 | IBKRInteractive Brokers | 100 | Highly Concentrated | 100% | $1.60B |
| 22 | ARHSArhaus, Inc. | 100 | Highly Concentrated | 100% | $1.27B |
| 23 | AESIAtlas Energy Solutions, Inc. | 100 | Highly Concentrated | 100% | $1.06B |
| 24 | ELFe.l.f. Beauty | 100 | Highly Concentrated | 100% | $1.31B |
| 25 | GRDNGuardian Pharmacy Services, Inc. | 100 | Highly Concentrated | 100% | $1.23B |
| 26 | NTRSNorthern Trust | 100 | Highly Concentrated | 100% | $4.37B |
| 27 | ULTAUlta Beauty | 100 | Highly Concentrated | 100% | $11.30B |
| 28 | ALLYAlly Financial | 100 | Highly Concentrated | 100% | $1.01B |
| 29 | MTBM&T Bank | 100 | Highly Concentrated | 100% | $1.56B |
| 30 | ROSTRoss Stores | 100 | Highly Concentrated | 100% | $21.13B |
| 31 | ACIAlbertsons | 100 | Highly Concentrated | 100% | $80.39B |
| 32 | ELVElevance Health | 100 | Highly Concentrated | 99.8% | $177.32B |
| 33 | UNPUnion Pacific Corporation | 100 | Highly Concentrated | 100% | $24.25B |
| 34 | CVNACarvana | 100 | Highly Concentrated | 100% | $13.67B |
| 35 | ENBENBRIDGE INC | 100 | Highly Concentrated | 100% | $22.00B |
| 36 | ADTADT Inc. | 100 | Highly Concentrated | 100% | $4.90B |
| 37 | LRCXLam Research | 100 | Highly Concentrated | 100% | $18.44B |
| 38 | SPGSimon Property Group | 100 | Highly Concentrated | 100% | $5.54B |
| 39 | WELLWelltower | 100 | Highly Concentrated | 100% | $6.56B |
| 40 | PACSPACS Group, Inc. | 100 | Highly Concentrated | 100% | $4.09B |
| 41 | URIUnited Rentals | 100 | Highly Concentrated | 100% | $1.43B |
| 42 | ACAArcosa, Inc. | 100 | Highly Concentrated | 100% | $2.77B |
| 43 | AFRMAffirm Holdings, Inc. | 100 | Highly Concentrated | 99.8% | $119.29M |
| 44 | ORLYO’Reilly Automotive | 100 | Highly Concentrated | 100% | $16.71B |
| 45 | BRBroadridge Financial Solutions | 100 | Highly Concentrated | 100% | $6.89B |
| 46 | MAMastercard | 100 | Highly Concentrated | 100% | $28.17B |
| 47 | ALHCAlignment Healthcare, Inc. | 100 | Highly Concentrated | 100% | $2.70B |
| 48 | AMRAlpha Metallurgical Resources, Inc. | 100 | Highly Concentrated | 100% | $2.96B |
| 49 | COFCapital One | 100 | Highly Concentrated | 100% | $3.60B |
| 50 | FTNTFortinet | 100 | Highly Concentrated | 100% | $5.96B |
Understanding Segment Concentration
The Segment Concentration Index measures how dependent a company is on its largest business segments. A high score (67-100) indicates that revenue is concentrated in one or two segments, while a low score (0-33) indicates diversified revenue streams.
HHI = Sum of (Segment Revenue / Total Revenue)^2 x 10,000
High concentration is not inherently negative. Many successful companies focus on core competencies. However, it does mean higher risk if that segment faces challenges.
Related Rankings
Data Source: SEC EDGAR XBRL (10-K filings). Concentration Index is calculated using the Herfindahl-Hirschman Index (HHI) methodology.
This information is for educational purposes only and should not be considered investment advice. High concentration does not necessarily indicate poor performance - many successful companies are focused on core competencies.