These Are The Ten Most Profitable Companies In New Jersey

June
2, 2021

4 min read

This story originally appeared on ValueWalk

New Jersey is home to many world-class companies that are a significant contributor to the state’s GSP, both directly and indirectly. The state’s gross state product (GSP) in 2019 was $564 billion. Businesses in the state employed about 24.2 million people in 2018, with the top sectors being health care and social assistance, retail trade and professional, scientific, and technical services. Detailed below are the top ten most profitable companies in New Jersey.

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Ten Most Profitable Companies In New Jersey

We have used the latest available profitability numbers of the companies to come up with the ten most profitable companies in New Jersey. We have considered only Fortune 500 companies. Following are the ten most profitable companies in New Jersey:

10. Quest Diagnostics ($858 million)

Founded in 1967, this company offers diagnostic testing, information and services to patients, clinicians, hospitals, health plans and employers. Quest Diagnostics has more than 44,500 employees and its CEO is Stephen H. Rusckowski. The shares of the company are up more than 6% in the past one year, and YTD also they are up over 6%. Quest Diagnostics has its headquarters in Secaucus.

9. Becton Dickinson ($1,233)

Founded in 1897, it is a medical technology company that develops, manufactures and sells medical supplies, laboratory equipment, diagnostic products and devices. Becton Dickinson has more than 72,000 employees and its CEO is Thomas E. Polen. The shares of the company are down more than 1% in the past one year, and YTD, they are down over 4%. Becton Dickinson is headquartered in Franklin Lakes.

8. Zoetis ($1,500 million)

Founded in 1952, this company discovers, develops and manufactures animal health medicines and vaccines. It operates through two segments – United States and International. Zoetis has more than 11,300 employees and its CEO is Kristin C. Peck. The shares of the company are up more than 22% in the past one year, and YTD, they are up over 5%. Zoetis is headquartered in Parsippany.

7. Public Service Enterprise Group ($1,693 million)

Founded in 1903, it is a holding company that offers electric and gas services. The products and services that it offers are energy, congestion credits, capacity, ancillary services and emissions allowances. Public Service Enterprise has more than 12,700 employees and its CEO is Ralph Izzo. The shares of the company are up more than 17% in the past one year, and YTD, they are up over 6%. Public Service Enterprise is headquartered in Newark.

6. Cognizant Technology Solutions ($1,842 million)

Founded in 1994, this company provides information technology, consulting, and business process outsourcing services. Cognizant has more than 289,500 employees and its CEO is C Brian Humphries. The shares of the company are up more than 28% in the past one year, and YTD, they are down over 13%. Cognizant Technology Solutions has its headquarters in Teaneck.

5. Automatic Data Processing ($2,292 million)

Founded in 1949, this company engages in business outsourcing solutions. It specializes in cloud-based human capital management. Automatic Data Processing has more than 58,000 employees and its CEO is Carlos A. Rodriguez. The shares of the company are up more than 29% in the past one year, and YTD, they are up over 11%. Automatic Data Processing has its headquarters in Roseland.

4. Prudential Financial ($4,186 million)

Founded in 1875, this company offers financial products and services to both individual and institutional customers. It deals in life insurance, annuities, mutual funds and investment management. Prudential Financial has more than 41,000 employees and its CEO is Charles F. Lowrey. The shares of the company are up more than 70% in the past one year, and YTD, they are up over 38%. Prudential Financial is headquartered in Newark.

3. NRG Energy ($4,438 million)

Founded in 1989, this company deals in the production, sale and distribution of energy and energy services. It operates through three segments – Generation, Retail and Corporate. NRG Energy has more than 4,100 employees and its CEO is Mauricio Gutierrez. The shares of the company are down more than 11% in the past one year, and YTD also they are down over 14%. NRG Energy is headquartered in Princeton.

2. Merck ($9,843 million)

Founded in 1891, this company deals in prescription medicines, animal health, consumer care products, vaccines, and biologic therapies. Merck has more than 73,000 employees and its CEO is Kenneth C. Frazier. The shares of the company are down more than 8% in the past one year, and YTD also they are down over 8%. Merck is headquartered in Kenilworth.

1. Johnson & Johnson ($15,119 million)

Founded in 1886, it deals in the research and development, manufacture and sale of products in the health care segment, including baby care, oral care, beauty and more. Johnson & Johnson has more than 134,000 employees and its CEO is Alex Gorsky. The shares of the company are up more than 11% in the past one year, while YTD, they are up over 5%. Johnson & Johnson has its headquarters in New Brunswick.