The 15 companies with the fastest-growing profits in the Fortune 500 have little in common. Most of them are not in the Fortune 100, and not all of them have climbed the rankings this year. And two — MassLife and Waste Management — experienced flat revenue.
1. Starbucks
The Seattle-based coffee chain grew profits on its $16.4 billion in revenue by almost 250-fold in 2014. That’s more than three times the growth of the next-fastest growing company on the list. Profits at Starbucks (SBUX) have surged in recent quarters as it expands its menu to offer lunch foods and beer and wine. The company, which jumped nine spots on the Fortune 500 list to No. 187, has a goal of doubling revenue from food in the next four years.
2. Calpine
The Houston-based power generator company grew profits on its $8 billion in revenue by 66-fold in 2014. That’s more than four times the growth of the next-fastest growing company on the list. Profits at Calpine (CPN) surged thanks to the divestiture of of six power plants and a decrease in natural gas prices last year. The company jumped 61 spots on the Fortune 500 list to No. 353.
3. Avis Budget Group
The New Jersey-based rental car company grew profits on its $8.5 billion in revenue by 15-fold in 2014. Profits at Avis (CAR) surged thanks to increased travel as we emerge from the recession. Consolidation in the industry has allowed the company to charge higher prices. Avis jumped four spots on the Fortune 500 list to No. 336.
4. Waste Management
The Houston-based waste hauler and recycling company grew profits on its $13.9 billion in revenue by 12-fold in 2014, even as sales grew a mere 0.01%. Profits at Waste Management (WM) surged thanks to cost-cutting initiatives. The company fell 10 spots on the Fortune 500 list to No. 207.
5. Massachusetts Mutual Life Insurance
The Springfield, Mass.-based mutual insurance company grew profits on its $33.5 billion in revenue by 586% in 2014. Profits at Massachusetts Mutual Life Insurance surged compared to 2013, when it lost $113 in part because of the acquisition of The Hartford Retirement Plans Group for $400 million. The company jumped two spots on the Fortune 500 list to No. 94.
6. AES
The Arlington, Va.-based utilities company grew profits on its $17.4 billion in revenue by 594% in 2014. AES (AES) was hurt by a drought in Latin America but profits grew in part, because of the sale of four wind projects in the UK and a power plant in the Philippines. The company fell four spots on the Fortune 500 list to No. 178.
7. Williams
The Tulsa-based transporter of natural gas grew profits on its $7.6 billion in revenue by 391% in 2014. Profits at Williams (WMB) was helped by the closing of its $50 billion merger with Access Midstream Partners in early 2015. The company jumped 10 spots on the Fortune 500 list to No. 370.
8. Domtar
The Montreal-based paper and pulp company grew profits on its $5.6 billion in revenue by 376% in 2014. Domtar (UFS) attributes profit growth to lower costs for planned maintenance, better productivity in pulp and paper and favorable exchange rates, among other things. The company fell one spot on the Fortune 500 list to No. 470.
9. Plains GP Holdings
The Houston-based pipeline company grew profits on its $43.5 billion in revenue by 373% in 2014. Profits at Plains GP Holdings (PAGP) surged thanks to higher crude oil pipeline volumes in North America, increased tariff rates, and the acquisition of a stake a the BridgeTex pipeline. The company jumped three spots on the Fortune 500 list to No. 67.
10. Hartford Financial Services Group
The Hartford-based insurance company grew profits on its $18.8 billion in revenue by 366% in 2014. Profits at Hartford Financial Services Group (HIG) were boosted thanks to the sale of its Japanese annuity subsidiary, Hartford Life Insurance K.K. for $963 million. The company fell 47 spots on the Fortune 500 list to No. 160.
11. Applied Materials
The Santa Clara-based semiconductor company grew profits on its $9 billion in revenue by 353% in 2014. Profits at Applied Materials (AMAT) surged thanks to a the growth in mobile devices and flat-panel displays. The company jumped 31 spots on the Fortune 500 list to No. 319.
12. Gilead Sciences
The Foster City, Calif.-based pharmaceutical company grew profits on its $24.9 billion in revenue by 318% in 2014. Profits at Gilead Sciences (GILD) surged thanks to the availability of Sovaldi, the company’s hepatitis C medicine. The company jumped 132 spots on the Fortune 500 list to No. 118.
13. Goodyear Tire & Rubber
The Akron, Ohio-based motor vehicle parts company grew profits on its $18.1 billion in revenue by 293% in 2014. Profits at Goodyear (GT) surged thanks to lower raw material and pension costs. The company fell 19 spots on the Fortune 500 list to No. 166.
14. Voya Financial
Voya Financial Chairman and CEO Rodney O. Martin Jr. rings the NYSE Closing Bell® to highlight the Voya Born to Save program and celebrate the consumer launch of the Voya brand at The New York Stock Exchange on October 23rd, 2014 in New York City. Through the Voya Born to Save program, every baby born in the United States on October 20, 2014 is eligible to receive a $500 mutual fund investment from Voya Financial as a head start on their future retirement savings. (Photo by Josh Kuckens/NYSE)
The New York City-based insurance company formerly known as ING, grew profits on its $11 billion in revenue by 289% in 2014. Profits at Voya Financial (VOYA) surged thanks to the divestiture of its U.S. subsidiary. The company makes its debut on the Fortune 500 list this year at No. 268.
15. Cardinal Health
The Dublin, Ohio-based drug maker and medical supply company grew profits on its $91 billion in revenue by 283% in 2014. Profits at Cardinal Health (CAH) surged thanks to strong sales in its pharmaceutical distribution business. The company fell four spots on the Fortune 500 list to No. 26.
To see the full Fortune 500 list, visit fortune.com/fortune500.
