2022's Slideshow Reveals Top 500 Profitable U.S. Manufacturing Firms of the Year
Top U.S. Manufacturers Shine with Profitability and Operational Strength
In the latest slideshow of the 2022 U.S. 500 list, a selection of the country's largest manufacturing companies showcased impressive financial performances. Among these, two companies, Nvidia Corp. and Bio-Rad Laboratories Inc., had more profit than sales, highlighting their profitability.
Nvidia Corp., a company in the computers & other electronics industry, reported a 2021 revenue of $26,914 million and a profit margin of 36.23%. Meanwhile, Bio-Rad Laboratories Inc., a medical equipment manufacturer, had a 2021 revenue of $2,923 million and a profit margin of 145.28%.
Several top financial performers are included in this list, such as Cooper Companies Inc., another medical equipment manufacturer, which had a 2021 revenue of $2,923 million and a profit margin of 100.76%. SPX Corp., a machinery manufacturer, also made the list with a 2021 revenue of $1,220 million and a profit margin of 34.88%.
High sales totals are significant, and big profits are desirable, but profit margin is a key indicator of fiscal performance. This is particularly true for the IndustryWeek 50 Best U.S. Manufacturers, where operational excellence and earnings quality take centre stage.
Allison Transmission, which topped the 2025 list, benefits from unprecedented demand in Class 8 vocational vehicles and defense sector sales. The company reported record earnings and strong revenue growth in recent years, including 2021, though exact 2021 profit margin and growth figures are not explicitly provided. However, the company showed consistent outperformance compared to peers and strong margins through sustained demand and effective management.
Paccar, a leading manufacturer of heavy trucks, is another notable manufacturer. Its premium product offerings and strong market position have led to 86 consecutive years of profitability as of recent years and healthy profit margins and robust returns on capital. Although specific 2021 profit margins or exact growth rates are not detailed, Paccar exhibits superior financial and operational performance metrics relative to peers in the heavy machinery segment.
Other large manufacturers like Deere, Goodyear Tire & Rubber, and Cleveland-Cliffs appear on the list, but some faced profitability challenges. For instance, Cleveland-Cliffs showed a negative profit margin of -289% in 2022, indicating losses.
The summary table below provides a snapshot of the available metrics for selected companies in the 2021/2022 timeframe.
| Company | Approx. Revenue (2022, $B) | Profit Margin (2022) | Profit Margin / Growth Notes (2021) | |---------------------|----------------------------|---------------------|-------------------------------------------------| | Allison Transmission| Not disclosed explicitly | Strong, record earnings indicated | Outperformed peers, driven by vehicle demand[2] | | Paccar | Not disclosed explicitly | Superior margins vs peers | 86 years profitability, strong returns[3] | | American Electric Power | $19.7 | 3.9% | Stable, mid-single-digit margin[1] | | GE HealthCare Technologies| $19.7 | 0.6% | Low margin but operational scale[1] | | Cleveland-Cliffs | $19.2 | -289% (loss) | Severe losses in 2022[1] |
In conclusion, Allison Transmission and Paccar stand out as top manufacturing performers in the U.S. around 2021-2022 based on profitability, revenue growth, and operational strength, with Allison leading in overall recent performance and Paccar known for its long-term profitability and strong balance sheet. Large revenue companies like Cleveland-Cliffs showed volatility and losses despite scale.
The new list for 2023 will be unveiled in the coming months.
References: [1] Fortune 500 Revenues (2022 proxies) [2] IndustryWeek 50 Best U.S. Manufacturers (2021) [3] Paccar's Financial Performance (2022) [4] Allison Transmission's Financial Performance (2021) [5] IndustryWeek 50 Best U.S. Manufacturers (2025)
- The profitability of tech giant Nvidia Corp., specialized in finance, cybersecurity, and data-and-cloud-computing via artificial intelligence and technology, was highlighted as they had more profit than sales in 2021.
- Personal-finance management and lifestyle choices can greatly benefit from the most recent advancements in fintech, a sector significantly impacted by the improvements in technology and data-and-cloud-computing demonstrated by Nvidia Corp.
- Investing in companies like Bio-Rad Laboratories Inc., despite primarily focusing on the medical equipment sector, may potentially yield high returns due to their impressive profitability, as demonstrated by their profit margin of 145.28% in 2021.
- As gadget enthusiasts consider their next purchase, they might find inspiration in the top manufacturers like Nvidia Corp., known for their operational strength in finance and technology.
- The ongoing advancements in technology and finance will soon extend to the shopping industry, as pioneers like Allison Transmission and Paccar demonstrate the potential for remarkable growth and profitability, making them noteworthy for investors and consumers alike.
