The HispanicBusiness 500 had its first billion-dollar company way back in 1999, when MasTec Inc. reported $1.01 billion in revenue for the 1998 calendar year. Fifteen years later, The 500 crosses a new threshold, boasting five companies crossing the $1 billion mark.
Joining MasTec in the billion-dollar club this year are Brightstar, posting an impressive $6.3 billion figure for 2012 and making the index's top slot; Greenway Ford at $1.2 billion; The Related Group at $1.02 billion; and SDI International, coming in at $1 billion.
MasTec, which has been on the HB500 since its inception in 1982, comes in at No. 2 on the list this year at $3.73 billion.
Previous member and No. 1 company Molina Healthcare has gone on to the Fortune 500, where it ranked at No. 423 this year. Brightstar would be in the low 400s on that list as well, if they were a public company.
Overall revenue for The 500 reached a new height this year, topping $40 billion. Thatís an increase of 6.54 percent from last year, and is up an astonishing 130.89 percent since MasTec became the listís first 10-figure company in 1999. The list's entire roster produced just $17.45 billion in revenue that year.
The top five companies alone this year had $13.26 billion in revenue.
Spreading the Wealth
Geographically, most of the companies once again come from three states: Florida, Texas and California.
Florida holds the top spot this year with 111 companies on the list, down from 120 last year. Texas, which surpassed California last year for the No. 2 spot, is making a run at Florida and has 98 companies represented this year, up an impressive 8.9 percent from last year and 24.1 percent from just two years ago. California holds down the No. 3 ranking with 83 companies.
Although three states make up nearly 60 percent of the list, there are many others that are growing and have strong representation throughout.
Illinois, New Mexico, Arizona, Virginia, New York and Michigan all have at least 15 companies on the list, and up-and-comers Georgia and New Jersey arenít far behind.
All Sectors Go
2012 was a productive year for just about everyone. Seven of our 10 sectors (including technology, new this year) saw an increase in revenue year-to-year. Manufacturing, service and retail saw decreases, but the declines in service and retail can be partly attributed to their losing several of the larger companies to the new technology listing.
The energy sector saw the biggest year-to-year increase, up 34.3 percent from 2011. Automotive (19.1 percent) and finance (11.24 percent) saw healthy increases, also.
The new technology sector is well represented with 22 companies accounting for $3.25 billion in revenue, led by SDI International at $1 billion in 2012 revenues.
For information on the top 10 companies in each sector, see our accompanying charts and overview.
Employment Not as Encouraging
While the financial figures are trending in the right direction for The 500, employment isnít as promising. Total employment for the 500 companies stood at 124,761 in 2012, down from 128,526 in 2011. That's a 2.9 percent decrease.
This is in contrast to last year, when employment was up 12.1 percent overall, but it isn't as significant a decline as the 4.7 percent decrease from 2009-2010 or the 8.7 percent decrease from 2008-2009. The 124,000-plus figure is the sixth highest in the history of The 500.
Most of the employment losses were in the service sector, which sank from 66,754 employees in 2011 to 55,829 in 2012, a decline of 10,921 workers. While that can be attributed to companies having moved to the technology sector, which had 6,780 employees in its initial year, a good chunk of it cannot meaning the service sector lost a sizeable percentage of employees year-to-year.
The service sector was joined in the red by construction, manufacturing and retail.
Not all the news was bad, however. Three sectors managed double-digit percentage gains in employment. The energy 16.1 percent), wholesale 11.7 percent) and automotive 10.5 percent) sectors all had very strong years.
Where has all of the growth in revenue come for The 500? Mostly from above, with the top 100 companies representing a record 84.7 percent of the list's overall revenue.
Thatís up nearly 2 percent from last year, and up 10 percent from just a decade ago. This would suggest that the bigger guys are getting bigger, and the smaller companies are struggling to find their way, which reflects the business climate in general.
Still, considering this is the third-straight year of revenue growth for the list after four years of stagnant or even negative results, it would appear that things have turned a corner for the companies represented here.