Most Diversified Companies by Revenue
Companies with the most diversified revenue streams, spreading risk across multiple business segments and reducing dependency on any single unit.
Top 50 Most Diversified
| # | Company | Score | Level | Segments | Revenue |
|---|---|---|---|---|---|
| 1 | NEMNewmont | 8 | Highly Diversified | 18(12.3 eff.) | $18.68B |
| 2 | CDWCDW Corporation | 15 | Highly Diversified | 9(6.7 eff.) | $21.00B |
| 3 | UVVUniversal Corporation | 17 | Highly Diversified | 12(5.8 eff.) | $2.95B |
| 4 | AESAES Corporation | 18 | Highly Diversified | 14(5.4 eff.) | $12.70B |
| 5 | NXPINXP Semiconductors | 19 | Highly Diversified | 10(5.2 eff.) | $12.61B |
| 6 | SNDKSandisk | 20 | Highly Diversified | 6(5 eff.) | $7.36B |
| 7 | ZDZiff Davis | 21 | Highly Diversified | 5(4.7 eff.) | $1.40B |
| 8 | DOVDover Corporation | 21 | Highly Diversified | 5(4.8 eff.) | $7.75B |
| 9 | FCXFreeport-McMoRan | 21 | Highly Diversified | 7(4.9 eff.) | $29.25B |
| 10 | EXPDExpeditors International | 22 | Highly Diversified | 7(4.6 eff.) | $10.61B |
| 11 | INTCIntel | 22 | Highly Diversified | 5(4.6 eff.) | $52.85B |
| 12 | AVYAvery Dennison | 22 | Highly Diversified | 6(4.5 eff.) | $10.16B |
| 13 | VTOLBristow Group Inc. | 22 | Highly Diversified | 5(4.6 eff.) | $1.42B |
| 14 | GRMNGarmin | 23 | Highly Diversified | 5(4.3 eff.) | $6.30B |
| 15 | CEGConstellation Energy | 24 | Highly Diversified | 5(4.2 eff.) | $19.43B |
| 16 | MZTIThe Marzetti Company | 24 | Highly Diversified | 6(4.2 eff.) | $1.91B |
| 17 | ALBAlbemarle Corporation | 24 | Highly Diversified | 5(4.2 eff.) | $5.38B |
| 18 | NWSNews Corp (Class B) | 24 | Highly Diversified | 5(4.1 eff.) | $8.45B |
| 19 | LVSLas Vegas Sands | 24 | Highly Diversified | 8(4.2 eff.) | $11.59B |
| 20 | EXCExelon | 24 | Highly Diversified | 5(4.2 eff.) | $24.93B |
| 21 | LINLinde plc | 25 | Highly Diversified | 8(4 eff.) | $33.01B |
| 22 | WSTWest Pharmaceutical Services | 25 | Highly Diversified | 6(4 eff.) | $2.89B |
| 23 | ALVAutoliv | 25 | Highly Diversified | 5(4 eff.) | $10.75B |
| 24 | KMBKimberly-Clark | 26 | Highly Diversified | 6(3.9 eff.) | $20.06B |
| 25 | NOCNorthrop Grumman | 26 | Highly Diversified | 4(3.9 eff.) | $44.27B |
| 26 | DDDuPont | 26 | Highly Diversified | 6(3.9 eff.) | $14.73B |
| 27 | BIIBBiogen | 26 | Highly Diversified | 6(3.9 eff.) | $11.19B |
| 28 | VCVisteon | 26 | Highly Diversified | 4(3.9 eff.) | $4.25B |
| 29 | BXPBXP, Inc. | 27 | Highly Diversified | 6(3.7 eff.) | $3.36B |
| 30 | EMNEastman Chemical Company | 27 | Highly Diversified | 5(3.7 eff.) | $9.38B |
| 31 | SNPSSynopsys | 27 | Highly Diversified | 5(3.6 eff.) | $7.05B |
| 32 | JKHYJack Henry & Associates | 27 | Highly Diversified | 4(3.7 eff.) | $2.63B |
| 33 | TSNTyson Foods | 28 | Highly Diversified | 5(3.6 eff.) | $56.46B |
| 34 | NRGNRG Energy | 28 | Highly Diversified | 5(3.6 eff.) | $32.06B |
| 35 | PPGPPG Industries | 28 | Highly Diversified | 4(3.5 eff.) | $15.85B |
| 36 | LMTLockheed Martin | 28 | Highly Diversified | 4(3.5 eff.) | $75.05B |
| 37 | DEDeere & Company | 28 | Highly Diversified | 4(3.6 eff.) | $46.16B |
| 38 | AHCOAdaptHealth Corp. | 29 | Highly Diversified | 4(3.5 eff.) | $3.26B |
| 39 | QSRRestaurant Brands International Inc. | 29 | Highly Diversified | 6(3.4 eff.) | $8.52B |
| 40 | MDTMedtronic | 29 | Highly Diversified | 6(3.4 eff.) | $33.76B |
| 41 | TELTE Connectivity | 29 | Highly Diversified | 4(3.5 eff.) | $18.95B |
| 42 | MUMicron Technology | 29 | Highly Diversified | 5(3.5 eff.) | $37.38B |
| 43 | OCOwens Corning | 29 | Highly Diversified | 4(3.5 eff.) | $11.31B |
| 44 | APOGApogee Enterprises, Inc. | 30 | Highly Diversified | 4(3.4 eff.) | $1.39B |
| 45 | EMEEmcor | 30 | Highly Diversified | 5(3.3 eff.) | $14.71B |
| 46 | WATWaters Corporation | 30 | Highly Diversified | 4(3.3 eff.) | $3.20B |
| 47 | WFCWells Fargo | 30 | Highly Diversified | 4(3.4 eff.) | $83.76B |
| 48 | VRTVertiv Holdings Co | 30 | Highly Diversified | 6(3.4 eff.) | $8.77B |
| 49 | DRIDarden Restaurants | 30 | Highly Diversified | 4(3.3 eff.) | $12.08B |
| 50 | PRUPrudential Financial | 30 | Highly Diversified | 6(3.3 eff.) | $76.79B |
Understanding Revenue Diversification
Revenue diversification measures how well a company spreads its income across different business segments. Companies with lower concentration scores have more balanced revenue streams, which can provide stability during sector-specific downturns.
Example: HHI 0.25 = 4 effective segments (as if 4 equal-sized units)
- Reduced dependency on single segment
- More stable revenue during sector downturns
- Multiple growth opportunities
- Risk spread across business units
- May indicate lack of focus
- Complex management challenges
- Potential for conglomerate discount
- Cross-subsidization concerns
The "Effective Segments" metric shows how many equal-sized segments would produce the same HHI. A company with 6 segments but 3 effective segments has uneven distribution - some segments dominate.
Related Rankings
Data Source: SEC EDGAR XBRL (10-K filings). Diversification is measured using the Herfindahl-Hirschman Index (HHI) methodology - lower scores indicate more diversification.
This information is for educational purposes only and should not be considered investment advice. Diversification does not guarantee better performance - some focused companies outperform diversified ones.