125 BIGGEST PUBLIC COMPANIES
To qualify for consideration for FLORIDA TREND'S public companies list, a company must be headquartered in Florida, have its stock publicly traded on a major exchange (NYSE, Nasdaq or OTC) and file regular financial reports with the U.S. Securities and Exchange Commission. Subsidiaries are eligible provided they are headquartered in Florida and have their own CEO/president. Banks' revenue is the sum of interest income plus non-interest income. Preview the Public list.
Infrastructure Empires
MASTEC, Coral Gables
No. 12 (up from No. 15)
Revenue: $14.3 billion (+16.3%)
MasTec ended the year with record revenue and record backlog. Its first quarter saw a 34% jump in revenue year-over-year and a 174% jump in earnings per share. "The strongest first quarter in our history," Mas told investors.
"We're right in the middle of all that." — Jose Mas, CEO, Miami-based MasTec, talking about the investment pouring into critical infrastructure, AI data centers, grid upgrades, energy projects and connectivity
DYCOM INDUSTRIES, West Palm Beach
No. 28 (up from No. 35)
Revenue: $5.5 billion (+18%)
At West Palm Beach-based infrastructure company Dycom Industries, the story's the same. It too posted record revenue for the year and a record backlog. Last year, it paid $1.95 billion to acquire Maryland-based Power Solutions to enter the data center market. Power Solutions is an electrical contractor specializing in serving data centers in the greater Washington, D.C., area, the world's largest data center hub.
JABIL, St. Petersburg
No. 4 (unchanged)
Revenue: $29.8 billion (+3.1%)
St. Petersburg-based Jabil earlier this year saw a 23% increase in quarterly revenue and a 91% increase in profits attributed to demand for networking and communications equipment and cloud and data center infrastructure. It's on track for $34 billion in revenue this year. It's good to be a seller of shovels in a gold rush.
Wood Pulp Woes
RYAM, Jacksonville
No. 60 (down from No. 56)
Revenue: $1.5 billion (-10.1%)
Turbulent days have come to longtime money-loser Ryam, formerly known as Rayonier Advanced Materials. It produces cellulose that becomes part of a wide variety of products made by others. New York-based private equity firm American Industrial Partners bid to buy the company in late 2025. In January, Ryam hired a new CEO, Scott Sutton. By April, Sutton was gone. The Ryam board then hired Morgan Stanley to advise it on a sale, merger or new investment and appointed senior executives to jointly serve as CEO.
The company in the first quarter reported a $34-million drop in net sales and rang up a loss of $81 million. "So our task this year is clear: strengthen the earnings profile of the business, improve cash generation and build momentum quarter by quarter," CFO Marcus Moeltner, one of the executives serving as CEO, told investors.
Energy Boost
CELSIUS HOLDINGS, Boca Raton
No. 48 (up from No. 63)
Revenue: $2.5 billion (+85.6%)
The U.S. energy drink market is dominated by Red Bull, the market leader, and Monster. Trying to close with the leaders is Boca Raton-based Celsius Holdings. In the first quarter, Celsius hit record revenue, up 138% from the prior year quarter. A "defining period," Celsius CEO John Fieldly called it. One important driver: Alani Nu sales doubled.
Celsius last year acquired Alani Nutrition for $1.8 billion. Celsius followed that up by securing from PepsiCo its Rockstar Energy rights in the U.S. and Canada. (PepsiCo kept the rest of the Rockstar global market. PepsiCo owns 11% of Celsius and is its distributor.)
Celsius brands combined hold 21% of the U.S. energy drink market as measured by dollars. Of that, Alani Nu had 9% of the U.S. market while Rockstar had 2%.
Car Crash
HERTZ, Estero
No. 23 (unchanged)
Revenue: $8.5 billion (-6%)
Things got this bad at Estero-based Hertz: Last year, it showed a huge improvement by losing only $747 million. The year before, it lost $2.9 billion. Hertz under CEO Gil West — appointed in 2024 — is holding cars for a shorter time to get a better resale price. That also helps the balance sheet and improves vehicle utilization. (Newer cars aren't out of service for maintenance the way older ones are.) It recently added eBay to its existing vehicle sales channels, which include Amazon Autos.
Hedge fund chief Bill Ackman took a 19.8% stake in the company last year, though it's unclear if he still owns that much. How Ackman sized up Hertz: "A misstep years ago with respect to the company's purchase of Teslas created operating issues, some customer demand issues, and exposed the company to an unanticipated reduction in residual values when Tesla dramatically reduced the price of its cars, leading to large operating losses." Ackman last year predicted that positive industry trends combined with CEO West's changes would significantly improve profit margins. He forecasted it could trade at $30 per share by 2029. It traded in the $6 range in May.
Water Win
PRIMO BRANDS, Tampa
No. 26 (up from No. 28)
Revenue: $6.7 billion (+29.3%)
Bottled water company Primo Brands posted a 29.34% increase in revenue after merging with Connecticut-based BlueTriton to create a "pure-play healthy hydration company." Shareholders of Primo Water, as it was known, got 43% of the merged company. It has a dual headquarters — Tampa and Stamford, Conn. Former Primo CEO Robbert Rietbroek became CEO of the merged company.
BlueTriton's chairman became non-executive chairman. Along with water delivery services, the portfolio includes Primo Water, Mountain Valley, Crystal Springs, Poland Springs, Deer Park, Zephyrhills and Pure Life.
225 BIGGEST PRIVATE COMPANIES
To qualify for consideration for FLORIDA TREND'S private companies list, a company must be headquartered in Florida and be privately held. Subsidiaries are eligible provided they are headquartered in Florida and have their own CEO/president. Companies that did not respond with complete information or in a timely manner were either not included, or revenue and/or employment were estimated using available sources. Preview the Private list.
Middle-Market Masters
H.I.G. CAPITAL, Miami
No. 2 (unchanged)
Revenue: $38.6 billion (+13.2%)
Sami Mnaymneh and Tony Tamer have kept a low public profile since founding alternative investment firm H.I.G. Capital in 1993. All the while, they turned it into a middle market private equity and credit, real estate and infrastructure funding firm. It's become a big house — $74 billion in capital under management and 1,000 employees in 18 offices in nine countries that collectively have done more than 3,500 deals and have invested in and managed more than 400 companies globally. The current portfolio numbers approximately 100 companies with combined sales north of $53 billion. H.I.G. also manages publicly traded BDC WhiteHorse Finance, No. 114 on FLORIDA TREND's public companies list.
In April, H.I.G. announced Mnaymneh will join Tamer as executive chairman, relinquishing the CEO post to co-president Brian Schwartz, who joined the firm in 1994 and has been co-president for more than six years. Mnaymneh, 64, got his undergraduate in economics from Columbia (first in his class) and his MBA and law degree from Harvard.
He was with Blackstone and Morgan Stanley before founding H.I.G. with Tamer to become, in Forbes' words, "masters of middle-market deals." Forbes puts Mnaymneh's net worth at nearly $8 billion as it does Tamer's. Tamer, 68, came from Bain & Co. and got his undergrad at Rutgers, his master's in engineering at Stanford and his MBA from Harvard.
Tamer and his wife, Sandra, this year donated $50 million to the University of Miami health system to create the Tamer Institute for Women's Health. UM says it will focus on multidisciplinary clinical care, research and education and will "redefine women's health for generations to come" in South Florida.
Conquering Carpets
ABBEY CARPET, Bonita Springs
No. 28 (up from No. 29)
Revenue: $3.1 billion (-0.4%)
In the floor covering industry, Abbey Carpet owner Phil Gutierrez is an icon. He's had more staying power than the long-gone Richard's department store chain — once a hallmark in South Florida — where he worked as a buyer. Abbey started in California in 1958 and was reportedly that state's first franchisor — pre-dating McDonald's. Gutierrez joined Abbey in 1973 and, as owner, took its franchise model from a handful to more than 1,200 stores. Abbey includes Floors to Go. Gutierrez moved the company to Bonita Springs — he liked fishing in the area — in 1996. He is in his 80s.
Building Boom
MANHATTAN CONSTRUCTION GROUP, Naples, Tulsa
No. 41 (up from No. 50)
Revenue: $2.2 billion (+24.1%)
Construction companies enjoyed robust growth in 2025. Witness Manhattan Construction. Florida projects such as renovations at Florida State University's Doak Campbell Stadium in Tallahassee, the new stadium at the University of South Florida and a centralized checkpoint at Southwest Florida International Airport in Fort Myers combined to boost revenues from the state by 70%, says Larry Rooney, group president. Beyond Florida — the company has a dual headquarters in Tulsa, Okla. — aviation, sports stadiums and data centers are driving growth.
"Florida continues to be a very strong growth market for our companies," Rooney says. "We had projects going last year all the way from the Florida Keys to Tallahassee. We continue to see a strong pipeline of work in Florida due to the continued relocation of large companies and a pro-business environment, unlike other states."
Among other contractors on our list, No. 119 DeAngelis Diamond Construction, Naples, increased revenue 21%, while No. 52 Coastal Construction Group, Miami, increased revenue 39.4%.
Smart Shrimp
RED LOBSTER, Orlando
No. 46 (up from No. 47)
Revenue: $2 billion (+2.2%)
The dining chain brought back its "Endless Shrimp" promotion in April but this time put guardrails in place to keep it from spelling the end of the chain. In 2023, consumer appetites overwhelmed the chain, causing $11 million in quarterly losses and leading to a bankruptcy court restructuring in 2024. Chain owner Thai Union, a seafood supplier, gave up ownership in 2024.
This time, Red Lobster limited the length of the promo — as opposed to making it a permanent menu item — and required it to be dine-in only and priced at $25 at a minimum, up from $20 in the disaster year. Prices could be higher at some locations.
"Endless Shrimp has been a part of Red Lobster's legacy for 20 years and our guests have never stopped asking for it. We're excited to bring it back, for a limited time, in a way that works for our business today and honors what made it special from the beginning," CEO Damola Adamolekun said in announcing the promotion.
Cool Company
CHROMALLOY, Palm Beach Gardens
No. 82 (up from No. 83)
Revenue: $1.1 billion (+2.3%)
Manufacturer Chromalloy ranks a middling 82nd on our annual list but, says one authority, it makes the coolest thing in Florida.
The Florida Chamber of Commerce in October named the company's jet engine blades the inaugural "Coolest Thing Made in Florida." The chamber created the honor to celebrate Florida manufacturing innovation, craftsmanship and impact. Chromalloy came out on top in four rounds of voting in a statewide campaign in which approximately 400,000 votes were cast.
Designed in Palm Beach Gardens, cast in Tampa and machined and coated in Oldsmar, the particular Chromalloy blades are used in high-pressure turbine areas of aerospace engines. Chromalloy employs 4,000 people making after-market products for the aviation, defense and energy industries.
On A Break
MINTO COMMUNITIES USA
No. 92 (down from No. 65)
Revenue: $976.4 million (-29.1%)
The Minto juggernaut paused in 2025. The company closed out its fast-selling Latitude Margaritaville Daytona Beach and also Isles of Collier Preserve in the Naples area. "We are in the process of reloading our land pipeline," says Dutch Neuweiler, division president, acquisitions and development. Minto recently closed on a Dallas-area project with 13,000 lots and is under contract for 4,000 lots in the Houston area. Both projects had "significant entitlement delays, which we have now overcome. Those delays did not allow us to replace our closed-out communities as quickly as we wanted to," Neuweiler says.