Originally spun out of Hewlett-Packard in 1999, Agilent has evolved into a leading healthcare firm. Today, Agilent's measurement technologies serve a broad base of customers within three operating segments: life science and applied equipment (49% of sales), cross lab (which includes consumables and services at 34%), and diagnostics and genomics (17%). The United States and Europe account for 34% and 27% of revenue, respectively, with China and Japan accounting for the majority of remaining sales. Agilent is headquartered in California. http://www.agilent.com
Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Watch), and TV boxes (Apple TV), among others. The iPhone makes up the majority of Apple's total revenue. In addition, Apple offers its customers a variety of services such as Apple Music, iCloud, AppleCare and Apple Pay, among others. Apple's products run internally developed software and semiconductors, and the firm is well known for its integration of hardware, software and services. Apple's products are distributed online as well as through company-owned stores and third-party retailers. The company generates about 40% of its revenue from the Americas, with the remainder earned internationally. http://www.apple.com
Accenture is a leading provider of management consulting, technology services, and outsourcing. The firm is truly global, with operations in over 120 countries and roughly 450,000 employees. The company has extensive industry experience and relationships with many market leading firms, and 94 of the Fortune Global 100 companies and more than 80% of the Fortune Global 500 companies work with Accenture. While the firm is headquartered in Dublin, Ireland, the majority of operations are conducted via New York and Chicago. http://www.accenture.com
ADP competes in the human resources administration services industry. It provides services that satisfy companies' human resources needs, such as payroll processing and benefits administration. ADP was founded in 1949 and has its headquarters in Roseland, New Jersey. It serves more than 650,000 clients and has 57,000 employees worldwide. http://www.adp.com
Aetna is one of the largest managed-care organizations in the U.S., with over 22 million medical members. This large member count helps the firm diversify its operating risk and has formed the basis for material competitive advantages. The firm provides health insurance services to its members through products that encompass every major insurance market--individual, group, and government sponsored. Aetna and CVS recently announced their intention to merge operations, and if approved, it would form one of the most powerful players within the healthcare space. http://www.aetna.com
Aflac Inc offers supplemental health insurance and life insurance in the two largest insurance markets in the world, the U.S. and Japan. In addition to its cancer policies, the company has broadened its product offerings to include accident, disability, and long-term-care insurance. It markets its products through independent distributors, selling most of its policies directly to consumers at their places of work. http://www.aflac.com
Allegion is a global security products company with a portfolio of leading brands, such as Schlage, Von Duprin, and LCN. The Ireland-domiciled company was created via a spin-off transaction from Ingersoll-Rand in December 2013. In fiscal 2018, Allegion generated 73% of sales in the Americas, 22% of sales in Europe, the Middle East, India, and Africa, and 5% of sales in Asia-Pacific. The company mainly competes with Swedish-based Assa Abloy AB, Switzerland-based Dormakaba, and U.S.-based Spectrum Brands. http://www.allegion.com
Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive care products. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and received approval for bone-strengthening drug Prolia/Xgeva in 2010. Amgen's acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Nexavar and Kyprolis. Recent launches include Repatha (cholesterol-lowering) and Aimovig (migraine). http://www.amgen.com
Spun off from American Express in 2005, Ameriprise Financial has emerged as a major player in the U.S. market for asset and wealth management, with around $900 billion in total assets under management and advisement. While the company maintains a meaningful presence in annuities and life insurance, it has become an increasingly smaller contributor to earnings as the company's asset-management arm has grown. Ameriprise has one of the largest branded advisor networks in the industry. http://www.ameriprise.com
Anthem is one of the largest private health insurance organizations nationwide, providing medical benefits to over 40 million members. The company offers employer-sponsored, individual, and government-backed coverage plans. Anthem differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. http://www.antheminc.com
Aon is a leading global provider of insurance and reinsurance brokerage and human resource solutions. Its operations are tilted toward its brokerage operations. Headquartered in London, Aon has about 50,000 employees and operations in 120 countries around the world. http://www.aon.com
Since its founding in 1940, Air Products has become one of the leading industrial gas suppliers globally, with operations in 50 countries and 19,000 employees. The company is the largest supplier of hydrogen and helium in the world. It has a unique portfolio serving customers in a number of industries, including chemicals, energy, healthcare, metals, and electronics. Air Products generated $8.9 billion in revenue in fiscal 2018. http://www.airproducts.com
Amphenol is one of the world's largest designers and manufacturers of connectors, cables, and sensor-based products. Its products are used primarily to transmit electrical and optical signals for a wide range of electronic applications. Primary end markets include voice, video, and data communication systems, commercial and military aerospace electronics, industrial factory automation equipment, mobile devices, and transportation applications. http://www.amphenol.com
AvalonBay Communities owns a portfolio of 270 apartment communities with over 72,000 units and is developing 21 additional properties with over 9,200 units. The company focuses on owning large, high-quality properties in major metropolitan areas of New England, New York/New Jersey, Washington D.C., California, and the Pacific Northwest. http://www.avalonbay.com
Broadcom--the combined entity of Broadcom and Avago--boasts a highly diverse product portfolio across an array of end markets. Avago focused primarily on radio frequency filters and amplifiers used in high-end smartphones, such as the Apple iPhone and Samsung Galaxy devices, in addition to an assortment of solutions for wired infrastructure, enterprise storage, and industrial end markets. Legacy Broadcom targeted networking semiconductors, such as switch and physical layer chips, broadband products (such as television set-top box processors), and connectivity chips that handle standards such as Wi-Fi and Bluetooth. The company recently acquired Brocade and CA Technologies to bolster its offerings in enterprise storage and mainframe software, respectively. https://www.broadcom.com
American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company operates a highly profitable merchant payment network. Since 2018, the company has operated in three segments: global consumer services, global commercial services, and global merchant and network services. In addition to payment products, the company's commercial business offers expense management tools, consulting services, and business loans. http://www.americanexpress.com
Acuity Brands Inc is the parent company of Acuity Brands Lighting and other subsidiaries, which provide lighting products for commercial, institutional, industrial, and residential applications. These products include luminaires, lighting controls, lighting components, and integrated lighting systems that use a combination of light sources. Customers include electrical distributors, electric utilities, retail home improvement centers, and lighting showrooms. A majority of the firms' revenue is generated in the United States. http://www.acuitybrands.com
Boeing manufactures commercial airplanes, provides defense equipment, and maintains a small captive finance division. With headquarters in Chicago, the firm competes with Airbus in commercial aviation and with Lockheed, Northrop, and several other firms in defense. Sales are split about 70% and 30% between the commercial aircraft and defense end markets. In 2018, Boeing generated over $100 billion in sales. http://www.boeing.com
CBS is a media conglomerate operating primarily in the U.S. CBS' television assets include the CBS television network, 30 local TV stations, and 50% of CW, a joint venture between CBS and Time Warner. The company also owns Showtime and Simon & Schuster. CBS spun off its cable networks and movie studios to Viacom in 2006 and completed the spin-out of its outdoor advertising business in 2014 and and its radio division in 2017. http://www.cbscorporation.com
With a history dating back more than 100 years, Clorox now sells a variety of consumer staples products, including cleaning supplies, laundry detergents, trash bags, cat litter, charcoal, food dressings, water-filtration products, and natural personal-care products. Beyond its namesake brand, the firm's portfolio includes Liquid-Plumr, Pine-Sol, SOS, Tilex, Green Works, Kingsford, Fresh Step, Glad, Hidden Valley, KC Masterpiece, Brita, and Burt's Bees. Nearly 85% of Clorox's sales stem from its home turf. http://www.thecloroxcompany.com
Based in Chicago, CME Group operates exchanges that allow investors, suppliers, and businesses to trade futures and derivatives based on interest rates, equity indexes, foreign currencies, energy, metals, and commodities. The CME was founded in 1898 and in 2002 completed its initial public offering. Since then, CME Group has consolidated part of the industry by merging with crosstown rival CBOT Holdings (2007) before acquiring Nymex Holdings in 2008. In addition, CME has a 27% stake in S&P/Dow Jones Indexes LLC along with an exclusive license to trade and clear S&P futures contracts. https://www.cmegroup.com
Rockwell Collins develops communications and aviation electronics for commercial and military customers worldwide. The company employs over 20,000 people. Competencies include communications, navigation, automated flight control, displays, simulation and training, integrated electronics, and information systems. The firm sells to governments, airlines, and aircraft manufacturers, while providing aftermarket services for many of its products. The company recently closed its acquisition of B/E Aerospace, an aircraft seat and cabin manufacturer. http://www.rockwellcollins.com
Costco is a leading operator of warehouse clubs worldwide. At the end of fiscal 2018, Costco operated 527 membership warehouse clubs in the United States, 100 in Canada, 39 in Mexico, 28 in the United Kingdom, 26 in Japan, 15 in Korea, 13 in Taiwan, 10 in Australia, 2 in Spain, and 1 each in Iceland and France. Costco is the third-largest retailer in the United States, with over $140 billion in revenue in fiscal 2018. In the U.S., base and executive memberships cost $60 and $120 per year, respectively, and give holders access to a limited range of merchandise priced at below-average markups. The company sells food, fuel, and general merchandise to its members but derives most of its profits from membership fees. http://www.costco.com
CSX Corp is an $12 billion railroad operating in the Eastern United States. On its 20,800 miles of track, CSX hauls shipments of coal products (18% of consolidated revenue), chemicals (19%), intermodal containers (16%), automotive cargo (10%) and a diverse mix of other merchandise. http://www.csx.com
In its core uniform and facility services unit (81% of sales), Cintas provides uniform rental programs to businesses across the size spectrum, mostly in North America. The firm is by far the largest provider in the industry. Facilities products generally include the rental and sale of entrance mats, mops, shop towels, and restroom supplies. Cintas also runs a first-aid and safety supplies business (9%) and offers direct uniform sales and fire-suppression systems maintenance (10%). http://www.cintas.com
Atlanta-based Delta Air Lines is one of the world's largest airlines, flying to more than 325 destinations in 60 countries. Delta operates a hub-and-spoke system, where it gathers and distributes passengers across the globe through key locations in Atlanta, New York, Salt Lake City, Detroit, Seattle, and Minneapolis-St. Paul. Delta generated just over $41 billion in revenue during 2017 and operated a mainline fleet of 856 aircraft at year-end 2017. http://www.delta.com
Deere is the world's leading manufacturer of agricultural equipment with approximately $35 billion in annual revenue. The company is divided into two reportable segments 1) agriculture and turf and 2) construction and forestry. Approximately 55% of Deere equipment is sold in North America and Canada. The principle products harvested by Deere equipment include grain, oilseeds, cotton, sugar, and biomass. In 2018, agriculture and turf made up approximately 70% of total revenue while construction and forestry generated 30%. http://www.deere.com
Discover Financial Services is a bank operating in two distinct segments: direct banking and payments. The company issues credit and debit cards and provides other consumer banking products including deposit accounts, students loans, and other personal loans. In addition, it generates revenue from payments processed on the Discover network. The Discover Network is the third-largest payment network as ranked by overall merchant acceptance, trailing Visa and Mastercard. http://www.discover.com
Dollar General Corp is a leading American discount retailer, operates over 15,000 stores in 44 states, selling branded and private-label products across a wide variety of categories. In fiscal 2017, 77% of net sales came from consumables (including paper and cleaning products, packaged and perishable food, tobacco, and health and beauty items), 12% from seasonal merchandise (such as toys, greeting cards, decorations, and gardening supplies), 6% from home products (for example, kitchen supplies, small appliances, and cookware), and 5% from basic apparel. Stores average roughly 7,400 square feet, and about 75% of Dollar General locations are in towns of 20,000 or fewer people. The company emphasizes value, with more than 80% of its items offered at every day low prices of $5 or less. http://www.dollargeneral.com
Walt Disney owns the rights to some of the most globally recognized characters, from Mickey Mouse to Luke Skywalker. These characters and others are featured in several Disney theme parks around the world. Disney makes live-action and animated films under studios such as Pixar, Marvel, and Lucasfilm, and also operates media networks including ESPN and several TV production studios. Disney recently reorganized into four segments with one new segment, direct-to-consumer and international. The new segment includes the two announced OTT offerings, ESPN+, and the Disney SVOD service. The plan also combines two current segments, parks & resorts and consumer products, into one. The media networks group contains the U.S. cable channels and ABC. The studio segment holds the movie production assets. https://www.thewaltdisneycompany.com
Dun & Bradstreet Corp operates as a source of commercial data, analytics, and insight on businesses. Its business record is used by its customers for risk management, researching sales prospects, and generating direct mailing lists. The company operates through two segments namely Americas, which consists of its operations in the United States and Canada, and Non-Americas, which consists of its operations in the United Kingdom, Greater China, India, and its European and Asia Pacific Worldwide Networks. The company generates the majority of its revenue from the US. http://www.dnb.com
Darden is one of the largest players in the $185 billion U.S. casual dining industry. Olive Garden (860 units), LongHorn (512), and Cheddar's Scratch Kitchen (159 company-owned and 14 franchise units) are its core brands, while the smaller, faster-growing specialty restaurant group is made up of Yard House (78), The Capital Grille (58), Seasons 52 (43), Bahama Breeze (43), and Eddie V's (20). In November 2015, the company spun off selected real estate and restaurant assets into Four Corners Property Trust. http://www.darden.com
DTE Energy owns two regulated utilities in Michigan. DTE Electric serves approximately 2.2 million customers in southeastern Michigan including Detroit. DTE Gas serves 1.3 million customers throughout the state. In addition, DTE has material non-utility businesses and investments including energy marketing and trading, natural gas pipelines, gathering and storage, and on-site industrial energy projects. https://www.newlook.dteenergy.com
Ecolab produces and markets cleaning and sanitation products for the hospitality, healthcare, and industrial markets. The firm is the global market share leader in this category with a wide array of products and services, including dish and laundry washing systems, pest control, and infection control products. The company has a strong hold on the U.S. market and is looking to increase its profitability abroad. Additionally, Ecolab serves customers in water and energy end markets, selling customized solutions. http://www.ecolab.com
Con Ed is a holding company for Consolidated Edison Company of New York, or CECONY, and Orange & Rockland, or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York--including New York City--and small parts of New Jersey. The two utilities generate roughly 90% of Con Ed's results. The other 10% of earnings comes from investments in renewable energy projects and gas and electric transmission. These investments have resulted in Con Ed becoming one of the largest owners of utility-scale PV solar capacity in the U.S. https://www.conedison.com
Equifax is one of the leading credit bureaus in the United States, providing the consumer information that is the basis for granting credit. The company also provides database management, fraud detection, marketing, business credit, and analytical services. About a fourth of the company's revenue is generated outside the U.S. http://www.equifax.com
Essex Property Trust owns a portfolio of 245 apartment communities with over 59,600 units and is developing six additional properties with 1,861 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle. http://www.essex.com
Eaton Corp PLC is a diversified power management company operating for over 100 years. The company operates through various segments, including Electrical Products and Electrical Systems and Services, Hydraulics, Aerospace, Vehicle, and most recently, eMobility. Eaton's portfolio can broadly be divided into two halves. One part of its portfolio is housed under its Industrial Sector umbrella, which serves a large variety of end markets like commercial vehicles, general aviation, trucks, and construction markets, among others. The other portion is Eaton's Electrical Sector Portfolio, which was strengthened with its acquisition of Cooper Industries in 2012. While the company receives favorable tax treatment as a domiciliary of Ireland, most of its operations take place in the United States. http://www.eaton.com
Expeditors International of Washington Inc is a non-asset-based third-party logistics provider, mainly focused on international freight forwarding. It employs sophisticated IT systems and contracts with airlines and steamship carriers to move customers' freight across the globe. The firm operates more than 185 full-service office locations worldwide, in addition to numerous satellite locations. In 2018, Expeditors derived 33% of consolidated net revenue from airfreight, 22% from ocean freight, and 45% from customs brokerage and other services. http://www.expeditors.com
Foot Locker operates thousands of retail stores throughout the United States, Canada, Europe, Australia, and New Zealand. It also has one franchisee in the Middle East and one in South Korea, each of which operates multiple stores in those regions. The company mainly sells athletically inspired shoes and apparel. Foot Locker's merchandise comes from only a few suppliers, with Nike providing the majority. Store names include Foot Locker, Champs, and Runners Point. The company also has an e-commerce business selling through Footlocker.com, Eastbay, and Final-Score. http://www.footlocker-inc.com
Fortive Corporation is a United States-based diversified industrial growth company encompassing businesses that are recognized leaders in attractive markets. It has well-known brands in field solutions, transportation technology, sensing, product realization, automation and specialty, and franchise distribution markets. The company's two separate business segments consisting of Professional Instrumentation and Industrial Technologies. The Professional Instrumentation segment consists of its Advanced Instrumentation and Solutions, and Sensing Technologies businesses. The Industrial Technologies segment consists of its Transportation Technologies, Automation & Specialty Components, and Franchise Distribution businesses. http://www.fortive.com
General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under three segments: GM North America, GM International, and GM Financial. The United States now has four brands instead of eight. The company remains the market leader in the U.S. with 17% share in 2018. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit. https://www.gm.com
Genuine Parts sells automotive parts (56% of 2018 net sales), industrial and electrical components (34% of 2018 net sales), and business products (10% of 2018 net sales). The company sells vehicle parts to commercial and retail customers through over 9,400 stores worldwide, most of which are independently owned. Its industrial unit supplies bearings, power transmission, industrial automation, hydraulic, and pneumatic components to maintenance, repair, and OEM clients. http://www.genpt.com
W.W. Grainger Inc distributes more than 1.7 million maintenance, repair, and operations, or MRO, products that are sourced from 5,200 suppliers. The company serves more than 3 million customers through its online and electronic purchasing platforms, vending machines, catalog distribution, and its network of 500 global branches. In recent years, Grainger has invested in its e-commerce capabilities, and the firm is the 10th- largest e-commerce site in North America. In 2017, Grainger generated 76% of its $10.4 billion of sales in the United States. https://www.grainger.com
HCA Healthcare is a Nashville-based healthcare provider organization operating the largest collection of acute-care hospitals in the U.S. The firm owns and operates 179 hospitals and 120 outpatient surgery centers with more than 1,800 alternate site locations including physician offices, urgent care clinics, and freestanding emergency rooms across 20 states and a small foothold in England. http://www.hcahealthcare.com
HCP owns a diversified healthcare portfolio of over 600 in-place properties spread across senior housing, medical office, life science, hospital, and skilled nursing/post-acute care. It also has interests in 99 assets in unconsolidated joint ventures and $82 million in debt investments. http://www.hcpi.com
Home Depot is the world's largest home improvement specialty retailer, operating nearly 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the United States, Canada, and Mexico. Its stores offer numerous building materials, home improvement products, lawn and garden products, and decor products and provide various services, including home improvement installation services and tool and equipment rentals. The acquisition of distributor Interline Brands in 2015 allowed Home Depot to enter the maintenance, repair, and operations sector, while the tie-up with Company Store brought textile expertise to the brand. https://www.homedepot.com
Honeywell traces its roots to inventor Albert Butz's company, the Butz-Thermo Electric Regulator Company in 1885, which produced a predecessor to the modern thermostat. From its origins developing climate control technology, which still operates today, Honeywell has emerged as a sprawling conglomerate with operations that span the globe. Today, Honeywell operates through four business segments--Aerospace, Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions--increasingly transforming itself into a software-industrial company serving diverse end markets like the U.S. defense, e-commerce, and oil & gas industries. http://www.honeywell.com
Harris Corporation is a provider of electronic systems with applications in defense, civil government, and commercial applications. The United States government and its contractors are the firm's largest customers. Its products include communications systems, serving defense and public safety networks; space and intelligence systems, providing Earth observation, environmental and geospatial solutions; and critical networks, for use in air traffic management, energy and maritime communications, and ground network operations. A large majority of the firm's revenue is generated in the U.S. http://www.harris.com
Hershey is a leading confectionery manufacturer in the U.S. (nearly a $25 billion market), controlling around 45% of the domestic chocolate space. Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of more than 80 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, with just 10%-15% of total sales coming from markets outside the United States, including Brazil, China, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, with deals to add Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix and Pirate Brands (including the Pirate's Booty, Smart Puffs, and Original Tings brands). http://www.thehersheycompany.com
Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE is the operator of a large derivatives exchange as well. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to exchanges, ICE's data and listings segment offers critically important equity and fixed-income market and pricing data. The company acquired Interactive Data in 2015 to bolster its fixed-income data offerings. https://www.theice.com
Ingersoll Rand is a diversified industrial company that operates two segments. The $12.3 billion climate segment manufactures and services HVAC systems and transportation refrigeration solutions under its prominent Trane, American Standard, and Thermo King brands. The $3.3 billion industrial segment sells Ingersoll Rand-branded compression systems and power tools, ARO-branded fluid management equipment, and Club Car-branded utility vehicles. The Irish-domiciled company generates approximately two thirds of its sales in the United States. http://www.ingersollrand.com
Illinois Tool Works is a diversified global manufacturer that produces specialized industrial equipment, consumables, and related services. The firm operates 87 global divisions through seven distinct operating segments: automotive OEM, construction products, food equipment, specialty products, test/measurement and electronics, polymers and fluids, and welding. About half of its revenue comes from its operations in North America, with the remainder originating from international markets. ITW takes a bottom-up and decentralized approach to portfolio management, with the exception that each segment must apply its 80/20 operating process modeled on the Pareto principle. http://www.itw.com
Johnson & Johnson is the world's largest and most diverse healthcare company. Three divisions make up the firm: pharmaceutical, medical devices and diagnostics, and consumer. The drug and device groups represent close to 80% of sales and drive the majority of cash flows for the firm. The drug division focuses on the following therapeutic areas: immunology, oncology, neurology, pulmonary, cardiology, and metabolic diseases. The device segment focuses on orthopedics, surgery tools, vision care, and a few smaller areas. The last segment of consumer focuses on baby care, beauty, oral care, over-the-counter drugs, and women's health. Geographically, close to half of total revenue is generated in the United States. http://www.jnj.com
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with more than $2.5 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries. http://www.jpmorganchase.com
KLA-Tencor designs and manufactures yield-management and process-monitoring and control systems for the semiconductor industry. The systems are used to analyze the manufacturing process at various steps in a product's development. The firm's laser-scanning products are used for wafer qualification, process monitoring, and equipment monitoring. KLA-Tencor also provides inspection tools and systems for optical metrology and e-beam metrology. http://www.kla-tencor.com
Kimberly-Clark is a leading manufacturer of personal care (around half of sales) and tissue products (roughly one third of sales). Its brand mix includes Huggies, Pull-Ups, Kotex, Depend, Kleenex, and Cottonelle. The firm also operates K-C Professional, which partners with businesses to provide safety and sanitary products for the workplace. Kimberly-Clark generates slightly north of half its sales in North America and more than 10% in Europe, with the rest primarily concentrated in Asia and Latin America. http://www.kimberly-clark.com
Kohl's operates 1,159 department stores in 49 states that sell moderately priced private-label and national brand clothing, shoes, accessories, cosmetics, and home furnishings. Most of these stores are in strip centers. Kohl's also operates an e-commerce site (kohls.com), 12 FILA athletic apparel outlets, and four clearance stores. Women's apparel constitutes Kohl's largest line of business, generating approximately 28% of its sales. The retailer, headquartered in Menomonee Falls, Wisconsin, opened its first department store in 1962. https://www.kohlscorporation.com
Kansas City Southern, the smallest Class I railroad, derives about half of its $2.7 billion revenue on 3,100 miles of track in the Central and Southern U.S. Remaining sales are produced by operating concessions on 3,200 miles of rail in Mexico and 47 miles of track adjacent to the Panama Canal. KCS' freight includes industrial and forest products (22% of total revenue), chemicals and petroleum (23%), agriculture and minerals (18%), intermodal (14%), energy (9%), and autos (9%); other revenue stems from switching, demurrage, and the like. http://www.kcsouthern.com
L-3 Technologies provides high-technology products, systems, and subsystems in the defense electronics business. Customers include the U.S. Department of Defense and U.S. government agencies (roughly 70% of sales), as well as foreign governments and commercial customers. Areas of focus include aircraft modernization and maintenance, training and simulation, communication systems, electro-optical sensors, and airport security screening equipment. L-3 and Harris Corporation plan to merge and deal closing should occur around mid-2019, assuming all regulatory hurdles are overcome. http://www.l3t.com
Eli Lilly is a pharmaceutical company with a focus on neuroscience, endocrinology, oncology, and immunology. Lilly's key products include Alimta for cancer; Forteo for osteoporosis; Jardiance, Trulicity, Humalog, and Humulin for diabetes; Taltz and Olumiant for immunology; and Cialis for erectile dysfunction. http://www.lilly.com
Lockheed Martin is the largest defense contractor globally and is the undisputed leader in next-generation fighter aircraft, after being awarded the F-35 program in 2001. Total sales for Lockheed in 2017 stood at $50 billion. Aeronautics is the largest business segment, accounting for about 40% sales. The remainder of the company's sales are generated by rotary & mission systems (around 26%), space systems (16%), and missiles & fire control (17%). http://www.lockheedmartin.com
Lam Research manufactures equipment used to fabricate semiconductors. The firm is focused on the etch, deposition, and clean markets, which are key steps in the semiconductor manufacturing process, especially for 3D NAND flash storage, advanced DRAM, and leading-edge logic/foundry chipmakers. Lam's flagship Kiyo, Vector, and Sabre products are sold in all major geographies to key customers such as Samsung Electronics and Taiwan Semiconductor Manufacturing. http://www.lamrc.com
McDonald's generates revenue through company-owned restaurants, franchise royalties, and licensing pacts. Restaurants offer a uniform value-priced menu with some regional variations. As of December 2018, there were roughly 37,900 locations in 120 countries: 35,100 franchisee/affiliate units and 2,800 company units. After reorganizing the company into segments based on the maturity and competitive position of its different markets, refranchising 4,000 locations, and eliminating $500 million in net annual SG&A expenses the past several years, the company is focused on "velocity growth accelerators" such as Experience of the Future layout (counter, kiosk, web ordering and table service/curbside delivery), mobile ordering and payments, and delivery alternatives. http://www.aboutmcdonalds.com
Moody's is the world's second-largest provider of credit ratings, trailing only S&P Global. The company provides ratings on more than a third of the total bond ratings in existence. Within ratings, roughly half of its revenue is derived from corporate issuers, while the rest of its corporate ratings are split among financial institutions, structured products, and public institutions. Moody's Analytics (13.5% of operating income) provides ancillary software and data solutions to issuers and investors. In 2017, the company bought Bureau van Dijk, a provider of private company data, for $3.5 billion to bolster its efforts in analytics. http://www.moodys.com
In its nearly 130-year history, McCormick has become the leading global manufacturer, marketer, and distributor of spices, herbs, extracts, seasonings, and other flavorings. McCormick's customer base includes top quick-service restaurants, retail grocery chains, and other packaged food manufacturers, with about 45% of sales generated beyond its home turf to include 150 other countries and territories. Beyond its namesake brand, the firm's portfolio includes Old Bay, Zatarain's, Thai Kitchen, and the recently acquired Frank's RedHot and French's brand. http://www.mccormickcorporation.com
Martin Marietta Materials Inc is one of the United States' largest producer of construction aggregates (crushed stone, sand, and gravel). In 2018, Martin Marietta sold 171 million tons of aggregates. Martin Marietta's most important markets include Colorado, Florida, Georgia, Indiana, Iowa, Maryland, Nebraska, North Carolina, South Carolina, and Texas, accounting for 85% of sales. The company also produces cement in Texas and uses its aggregates in its asphalt and ready-mixed concrete businesses. Martin's specialty product business produces magnesia-based chemical products and dolomitic lime. http://www.martinmarietta.com
Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite. The company is organized into three overarching segments: productivity and business processes (legacy Microsoft Office, cloud-based Office 365, Exchange, SharePoint, Skype, LinkedIn, Dynamics), intelligence cloud (infrastructure- and platform-as-a-service offerings Azure, Windows Server OS, SQL Server), and more personal computing (Windows Client, Xbox, Bing search, display advertising, and Surface laptops, tablets, and desktops). Through acquisitions, Microsoft owns Xamarin, LinkedIn, and GitHub. It reports revenue in product and service and other revenue on its income statement. http://www.microsoft.com
Motorola Solutions engages in the provision of communication infrastructure, devices, accessories, software and services. The company operates two segments: products and systems integration; and services and software. The products and systems integration segment offers a portfolio of infrastructure, devices, accessories, video solutions, and the implementation, optimization, and integration of such systems, devices, and applications. The services and software segment provides a broad range of solution offerings for government, public safety, and commercial communication networks. It offers a variety of services such as repair, technical support and maintenance, monitoring, software updates, and cybersecurity services. http://www.motorolasolutions.com
Norfolk Southern is a $10.6 billion railroad operating in the Eastern United States. On 21,000 miles of track, Norfolk Southern hauls shipments of coal (17% of consolidated 2017 revenue), intermodal traffic (23%), and a diverse mix of automobile, agriculture, metal, chemical, and forest products (each 7%-14%). http://www.nscorp.com
NetEase, which started on an Internet portal service in 1997, is a leading online services provider in China. Its key services include online/mobile games, media, email, and e-commerce. The company develops and operates some of the China's most popular PC client and mobile games, and it partners with global leading game developers, such as Blizzard Entertainment and Mojang (a Microsoft subsidiary). Since 2014, NetEase has rolled out e-commerce services, riding the tailwind of increased demand for high-quality products. http://www.netease.com
Omnicom is the world's second-largest ad holding company, based on annual revenue. The American firm's services, which include traditional and digital advertising and public relations, are provided worldwide, with over 85% of its revenue coming from more developed regions such as North America and Europe. http://www.omnicomgroup.com
Paccar manufactures and sells light-, medium-, and heavy-duty trucks as well as related parts under the Kenworth, Peterbilt, and DAF brands. Trucks are largely distributed through more than 2,100 independent dealer outlets. The firm's financing segment provides loans and leases to Paccar's dealers and customers. 2018 revenue totaled $23.5 billion, including the finance arm, with approximately 60% from North America, 30% from Europe, and the remainder from across South America and other countries. The company has 28,000 employees. http://www.paccar.com
PepsiCo manufactures and distributes nonalcoholic beverages, grain-based foods, and a variety of snacks. Its key brands include Pepsi, Gatorade, Mountain Dew, Tropicana, Quaker, Lay's, Doritos, and Cheetos. The firm receives a slight majority of revenue from food, with Frito-Lay North America (around one fourth of sales) contributing above 40% of operating profit. It distributes its products through direct-store-delivery and customer warehouse systems, as well as third-party networks. Pepsi generates 57% of its revenue in the United States. http://www.pepsico.com
Since its founding in 1837, Procter & Gamble has become the world's largest consumer product manufacturer. It operates with a lineup of leading brands, including 21 that generate more than $1 billion in annual global sales such as Tide laundry detergent, Charmin toilet paper, Pantene shampoo, and Pampers diapers. P&G sold its last remaining food brand, Pringles, to Kellogg in 2012. Sales beyond its home turf represent around 55% of the firm's consolidated total, with around one third coming from emerging markets. http://www.pginvestor.com
Parker-Hannifin is an industrial conglomerate operating out of two segments: diversified industrial, which serves a variety of end markets, and aerospace systems, which sells engine and actuation components. The diversified industrial segment consists of six groups, including engineered materials (sealing devices), filtration (filters and systems monitoring and removing contaminants from liquids and gases), fluid connectors (valves, couplings, and other fittings), instrumentation (flow manufacturing components and fluid control applications), and motion systems (hydraulic, pneumatic, and electromechanical components in industrial machinery and equipment). The segment boasts 16,900 independent distributors and nearly 40% of its business occurs outside of North America. http://www.phstock.com
PPG is a global producer of coatings. The company is the world's largest producer of coatings after the purchase of selected AkzoNobel assets. PPG's products are sold to a wide variety of end users, including the automotive, aerospace, construction, and industrial markets. The company has a footprint in many regions around the globe, with less than half of sales coming from North America in recent years. PPG is focused on its coatings and specialty products and expansion into emerging regions, as exemplified by the Comex acquisition. http://www.ppg.com
Public Storage owns and operates approximately 2,300 self-storage facilities in 38 states, with over 150 million net rentable square feet of storage space. Through equity interests, it also has exposure to the European self-storage market through Shurgard Europe and to an additional 29 million net rentable square feet of commercial space in the United States through PS Business Parks. Public Storage separates operations into three segments: same-store facilities, non-same-store facilities, and ancillary operations. http://www.publicstorage.com
Royal Caribbean is the world's second- largest cruise company, operating 60 ships across six global and partner brands in the cruise vacation industry at the end of 2018. Company brands include Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises. The company also has a 50% investment in a joint venture that operates TUI Cruises, a 49% stake in Pullmantur, and a 67% majority stake in Silversea Cruises, allowing it to continue competing on the basis of innovation, quality of ships and service, variety of itineraries, choice of destinations, and price. http://www.rclcorporate.com
Ralph Lauren markets, designs, sources, and distributes a variety of apparel and accessories through department stores, specialty retailers, and its own chain of retail stores and outlets. The core brand names include Polo, Ralph Lauren, and Lauren. Other subbrands include Women's Polo, Ralph Lauren Purple Label, Blue Label, RLX, Polo Sport, and Chaps. The company also operates its own portfolio of retail stores under the Ralph Lauren and Club Monaco brands. http://www.ralphlauren.com
Roper is a diversified technology company that operates out of four segments: Application Software, Network Software & Systems, Measurement & Analytical Solutions, and Process Technologies. The firm's culture emphasizes acquiring asset-light, cash-generative businesses. Roper then reinvests this excess cash in businesses that yield incrementally higher rates of return. While the firm's businesses are managed in a decentralized manner, Roper does not passively manage its portfolio. Instead, Roper manages its businesses through the Socratic method and empowers decision-makers through group executive coaching. Roper has now rotated a clear majority of its business from legacy industrial products into technology software in mature, niche markets with large quantities of deferred revenue. http://www.ropertech.com
Ross Stores is a leading American off-price apparel and home fashion retailer, operating more than 1,600 stores at the end of fiscal 2017 across the Ross Dress for Less and dd's Discounts banners. Ross offers a variety of name-brand products and targets undercutting conventional retailers' regular prices by 20%-70%. The company uses an opportunistic, flexible merchandising approach; together with a relatively low-frills shopping environment centered on a treasure-hunt experience, Ross maximizes inventory turnover and traffic, enabling its low-price approach. In fiscal 2017, 27% of sales came from the ladies' department, 26% from home accents (including bed and bath), 13% from each of accessories, men's, and shoes, and 8% from children's. All sales come from the United States. http://www.rossstores.com
Sealed Air is organized via two reporting segments. Food care includes its food packaging products like Cryovac, Darfresh, and Optidure aimed primarily at meats. Product care includes Sealed Air's Bubble Wrap, InstaPak, Jiffy Mailer, and shrink film packaging systems that cater to both industrial and e-commerce applications. http://www.sealedair.com
Sherwin-Williams is the largest provider of architectural paint in the United States. The company has approximately 4,600 stores and sells premium paint at higher price points than most competitors. Sherwin Williams also sells paint-related products in big-box stores and provides coatings for original equipment manufacturers. http://www.sherwin.com
J.M. Smucker is a packaged food company that primarily operates in the U.S. retail channel (85% of revenue), but also in U.S. food service (7%), Canada (6%), and exports (2%). Its largest category is pet food and treats (39% of revenue), with popular brands such as Milk-Bone, Meow Mix, 9Lives, Kibbles 'n Bits, Nature's Recipe, Natural Balance, and Rachael Ray Nutrish. Its second-largest category is coffee (34%) with the number-two brand Folgers and number-six Dunkin' Donuts. Other large categories are peanut butter (10%), with number-one Jif and number-three Smucker's, fruit spreads (5%) with number-one Smucker's, and oils (4%) with number-two Crisco. http://www.smuckers.com
Snap-on manufactures and sells tools, equipment, diagnostics, repair information, and systems solutions primarily for independent vehicle repair centers but also for new vehicle dealerships, as well as industrial, government, agriculture, aviation, and natural resources customers. Snap-on's franchisees operate about 3,500 vans in the United States, providing weekly contact with vehicle service technicians and shop owners. A little more than two thirds of Snap-on's revenue is domestic, while the remainder is derived from Europe and other regions. http://www.snapon.com
Simon Property Group is the second- largest real estate investment trust in the United States. Its portfolio includes an interest in 207 properties: 107 traditional malls, 68 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), four lifestyle centers, and 14 other retail properties. Simon's portfolio averaged $646 in sales per square foot over the past 12 months. The company also owns a 21% interest in Klepierre, a European retail company with investments in shopping centers in 16 countries, and joint venture interests in 27 premium outlets across 11 countries. http://www.simon.com
S&P Global is not only the world's largest provider of credit ratings and indexes, it offers complimentary data, research, and analytical tools to capital market participants. Within credit ratings, S&P is the largest of the big three nationally recognized statistical rating organizations alongside Moody's and Fitch. S&P accounted for around 49% of bond ratings tracked by the SEC the past two years, modestly more than its chief rival, Moody's, with 34%. Combined with Fitch, these three firms have ratings on more than 95% of the market. https://www.spglobal.com
Sempra Energy serves one of the largest utility customer bases in the United States. It distributes natural gas and electricity in Southern California and owns 80% of Oncor, a transmission and distribution business in Texas. SoCalGas and San Diego Gas & Electric distribute gas to more than 20 million customers, while Oncor serves over 10 million Texas customers. The firm's other affiliates own and operate liquefied natural gas facilities in North America and infrastructure in Mexico. http://www.sempra.com
