Meghan Malas

Data Journalist

It was the industrial sector that came out on top with 22 companies placing on the list, including the debut of Tesla (No. 2). Industrials led all sectors with a 108% three-year average annual earnings growth rate.

The companies featured on the fastest-growing companies list, which ranks companies based on growth in revenue, profits, and stock returns, are worth a combined $4 trillion in market capitalization.

Some other highlights from this year’s list: Builders Firstsource, the largest residential construction materials supplier in the U.S., nabbed the top spot on the list. The Texas-based company brought in $20.9 billion in revenue in the four quarters before April 2023 and has a three-year average annual revenue growth rate of 55%. Texas passed California as the home U.S. state for the highest number of fastest growers, with 16 companies headquartered there (including three of the top four), compared to California’s 11.

After notably falling off in 2022, tech giants Meta, Amazon, and Netflix did not return to the list. This year, Alphabet also departed, ending a three-year run on the ranking. But technology companies continued to be a strong (albeit shrinking) presence, with 17 tech companies claiming spots, down from 21 last year.

To find out more about the companies winning the growth game, check out the 2023 100 Fastest-Growing Companies list.

The 100 Fastest-Growing Companies

CRYPTO

FTX founder Sam Bankman-Fried takes the stand but stumbles through cross-examination

In an unusual hearing without the jury present, the disgraced crypto founder faced an unrelenting prosecution.

TECH

The $200 billion playbook that kneecapped Big Tobacco is coming for Mark Zuckerberg and his social media offspring

“Substitute algorithms for Joe Camel,” says Fordham Law professor Kenneth Rashbaum.

FINANCE

With the dream of homeownership ‘threatened’ by the frozen housing market, the $15m-funded Visible platform wants to give power back to ‘the little guy’

Former Square exec Andrew Borovksy wants to help all the “accidental landlords” out there. He sees a “giant, untapped space.”

A 30-year-old founder debuts a $5 million fund for her second startup that finances brick-and-mortar stores in a new way

Fintech startup Bonside offers a form of financing that doesn’t require physical businesses to give up equity to investors or take on debt.

PayPal rival used by Uber and Spotify has lost so much market value in U.S. push that it’s cost its founders $2 billion this year

Amsterdam-based Adyen has seen a slowdown just as it ramps up its U.S. expansion where rivals like PayPal and Stripe dominate.

SUCCESS

Nvidia cofounder Jensen Huang says ‘nobody in their right mind’ would start a company, and he’d opt out if he could go back in time

Huang cofounded the tech giant, which is now one of the world’s most valuable firms.

The laid-off masses have a message for Mark Zuckerberg and Marc Benioff: We’ll never come back

Over half of professionals told Glassdoor in a new survey that they wouldn’t boomerang back to a job they were laid off at.

LEADERSHIP

1-800-Flowers CEO shares the best business advice he received from JPMorgan’s Jamie Dimon

He also shares how he made his first billion.

HEALTH

Executives with addictions are hiring sober companions for up to $4,000 a day for continuous recovery support. For some, they may be key to preventing relapse

Long hours and high stress put executives and other company leaders at an increased risk for abusing alcohol and drugs.

TRAVEL

The new hotel industry: Dirtier rooms, higher prices

“The customer is the loser here,” says Truist’s C. Patrick Scholes. “Room rates are fully back and more, but you’re getting less service.”

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