These Are The Ten Biggest Companies In Rhode Island

As with many other states, Rhode Island has also transitioned from a heavily industrialized economy to a service economy. The deindustrialization process in the state started early in the century, and now the states’ economy is based primarily on business services, government, health services, education and tourism. Let’s take a look at the ten biggest companies in Rhode Island.

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Ten biggest companies in Rhode Island

We have used the latest available revenue numbers to rank the ten biggest companies in Rhode Island. Following are the ten biggest companies in Rhode Island:

10. AstroNova (>$116 million)

Founded in 1969, this company designs, develops, makes and distributes specialty printers and data acquisition and analysis systems. AstroNova Inc (NASDAQ:ALOT) has the following business segments: Product Identification (PI) and Test and Measurement (T&M). The shares of the company are up more than 38% year-to-date but are down over 13% in the last five days. AstroNova posted a profit of over $1.20 million in 2020, compared to over $1.70 million in 2019. It is headquartered in West Warwick, R.I.

9. Summer Infant (>$155 million)

Founded in 1985, this company designs, markets and distributes infant and juvenile health, safety, and wellness products. Summer Infant, Inc. (NASDAQ:SUMR) sells cribs, baby gear, audio and video monitors, bed rails, infant thermometers, feeding items, swaddling blankets and more. The shares of the company are down more than 25% year-to-date but are up over 8% in the last five days. Summer Infant posted a loss of over $1 million in 2020, compared to over $4 million in 2019. It is headquartered in Woonsocket, R.I.

8. KVH Industries (>$158 million)

Founded in 1982, this company offers internet, television and voice services through satellite to mobile users at sea and on land. KVH Industries, Inc. (NASDAQ:KVHI) has the following business segments: Mobile Connectivity and Inertial Navigation. The shares of the company are down more than 13% year-to-date and over 3% in the last five days. KVH Industries posted a loss of over $21 million in 2020, compared to over $16 million in 2019. It is headquartered in Middletown, R.I.

7. Amica Mutual Insurance (>$2.80 billion)

Founded in 1907, it is a mutual insurance company that offers auto, home and life insurance. Amica Mutual Insurance is the oldest mutual insurer of automobiles in the U.S. It is a direct writer, meaning the customers deal directly with the employees. Amica Mutual Insurance is a private company and is headquartered in Lincoln, R.I.

6. Hasbro (>$4.7 billion)

Founded in 1923, this company offers kids and family leisure time products and services. Hasbro, Inc. (NASDAQ:HAS) owns the following brands: My Little Pony, Transformers, Littlest Pet Shop, The Gathering, Monopoly, Nerf, Play-Doh and Magic. The shares of the company are up more than 7% year-to-date and over 2% in the last five days. Hasbro posted a profit of over $222 million in 2020, compared to over $520 million in 2019. It is headquartered in Pawtucket, R.I.

5. FM Global (>$6.7 billion)

Founded in 1835, it is a property insurer that specializes in serving businesses. FM Global also has a significant presence in loss-prevention consulting. It is a private company and is headquartered in Johnston, R.I. The company has more than 5,000 employees.

4. Citizens Financial Group (>$8 billion)

Founded in 1828, this company offers commercial banking services. Citizens Financial Group Inc (NYSE:CFG) has the following business segments: Consumer Banking and Commercial Banking. The shares of the company are up more than 30% year-to-date but are down almost 1% in the last five days. Citizens Financial Group posted a profit of $1.06 billion in 2020, compared to $1.79 billion in 2019. It is headquartered in Providence, R.I.

3. Textron (>$13 billion)

Founded in 1923, this company uses its global network defense, industrial, aircraft and finance businesses to offer innovative solutions and services to clients. Textron Inc. (NYSE:TXT) has the following business segments: Textron Systems, Finance, Textron Aviation, Bell, and Industrial. The shares of the company are up more than 50% year-to-date and over 2% in the last five days. Textron posted a profit of $309 million in 2020, compared to $815 million in 2019. It is headquartered in Providence, R.I.

2. United Natural Foods (>$23 billion)

Founded in 1976, this company distributes natural, organic, and specialty foods and non-food items. United Natural Foods Inc (NYSE:UNFI) has the following business segments: Wholesale and Retail. The shares of the company are up more than 200% year-to-date and over 7% in the last five days. United Natural Foods posted a profit of $143 million in 2020, compared to a loss of $256 million in 2019. It is headquartered in Providence, R.I.

1. CVS Health (>$256 billion)

Founded in 1963, this company offers health care services. CVS Health Corp (NYSE:CVS) has the following business segment: Health Care Benefits, Pharmacy Services, Retail or Long Term Care, and Corporate/Other. The shares of the company are up more than 40% year-to-date and over 6% in the last five days. CVS Health posted a profit of $7.19 billion in 2020, compared to $6.63 billion in 2019. It is headquartered in Woonsocket, R.I.