• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Fastest-Growing Companies

Finance has usurped tech among the 100 Fastest-Growing Companies

By
Brian O'Keefe
Brian O'Keefe
and
Nicolas Rapp
Nicolas Rapp
Down Arrow Button Icon
By
Brian O'Keefe
Brian O'Keefe
and
Nicolas Rapp
Nicolas Rapp
Down Arrow Button Icon
October 29, 2020, 5:30 AM ET

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.

Founded in 2006, AppFolio is a classic tech-industry success story. The software-as-a-service company started out offering property management products and then moved into legal-practice software. And over the past three years, the Santa Barbara, Calif., company has produced warp-speed growth. Revenue has increased by an average rate of 34%; earnings have rocketed up 161% yearly; and the total return to shareholders has averaged 71%. Those sizzling figures are good enough to place AppFolio at No. 1 on this year’s list of Fortune’s 100 Fastest-Growing Companies.

One might imagine that a ranking of fast-growing companies would be dominated by AppFolio-type businesses—tech startups made good. And, in fact, there are plenty of just such companies on the list this year, many of them from Silicon Valley. A total of 17 companies from the Bay Area made the Top 100. That includes Netflix (No. 5), which is making its 10th total appearance on the list and appears for the third straight year. The Valley’s strong showing helped California lead the way among states with 20 companies.

But this year’s list includes companies from 24 different states plus Washington, D.C., and six countries outside the U.S. (To be eligible, companies must trade on a U.S. stock exchange and report results in U.S. dollars. For the full methodology, click here.) In fact, Netflix is the only Silicon Valley company to make the top 10. One of the top-performing tech companies was Brooklyn-based online marketplace Etsy (No. 8), which led the way with a three-year average return to shareholders of 92%. Paylocity (No. 9), a cloud-based payroll and HR business headquartered in Schaumburg, Ill., grew its earnings per share an average of 137% over the past three years. At No. 14, Alibaba, which is based in Hangzhou, China, and incorporated in the Cayman Islands, is the highest-placed non-U.S. company this year.

Because our methodology evaluates companies over a three-year period, the bulk of the performance results that drove this year’s rankings were accumulated before the pandemic began wreaking chaos on the global economy earlier this year. And coming into 2020, the financial sector was on a hot streak. That’s reflected in the fact that financials led the way this year with 24 companies. One of the top performers was Kinsale Capital Group (No. 7), an insurer based in Richmond, which grew earnings an average of 61% annually over the past three years. The number of industrial companies jumped from 12 on our 2019 list to 21 this year, putting the sector in second place. Technology, meanwhile, dropped from 32 businesses in last year’s rankings down to 20—tech’s lowest total since 2015.

With some $296 billion in revenue over its past four quarters, Amazon is easily the biggest company on this year’s list. And it grew its massive sales by an average of 28% over the past three years. That incredible growth for such a gargantuan company helped the e-commerce and cloud giant make the 100 Fastest-Growing Companies list for a fourth straight year, ranking No. 10.

The longest streak in our rankings, however, belongs to Patrick Industries (No. 94), which made the list for a seventh straight year. Founded in 1959 and headquartered in Elkhart, Ind., Patrick makes products and materials for manufactured housing and recreational vehicles and expanded its sales an average of 25% annually over the past three years. It’s another reminder that robust growth isn’t just a Valley phenomenon.

This story has been updated to correct the city in which AppFolio has its headquarters. It is Santa Barbara, Calif., not Santa Clara.

About the Authors
By Brian O'Keefe
See full bioRight Arrow Button Icon
Nicolas Rapp
By Nicolas RappInformation Graphics Director
LinkedIn icon

Nicolas Rapp is the former information graphics director at Fortune.

See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

How Grab’s CTO sees the superapp’s push into physical AI and automated driving—and why he uses his competitors’ robots in the office
AITransportation
How Grab’s CTO sees the superapp’s push into physical AI and automated driving—and why he uses his competitors’ robots in the office
By Angelica AngMay 22, 2026
1 hour ago
Trump AI and crpto czar David Sacks sits next to Meta CEO Mark Zuckerberg at a dinner table in the White House as Zuckerberg turns to Sacks and says something.
AIAmerican Politics
Tech billionaires convinced Trump to back off an AI executive order. But much of MAGA favors AI regulation
By Jeremy KahnMay 22, 2026
2 hours ago
James Daunt sits in a booksop, gesturing with both hands and smiling.
AIbooks
Barnes & Noble CEO clarifies the bookseller’s stance on AI-written books after refusing to ban them: ‘This is a straightforward rejection of AI books’
By Sasha RogelbergMay 22, 2026
3 hours ago
A photo taken during the Maroon Bells bicycle ride during Fortune Brainstorm Tech 2019 in Aspen, Colorado. (Photo: Fortune)
InnovationBrainstorm Tech
Fortune Brainstorm Tech 2026 will be brilliant
By Andrew NuscaMay 22, 2026
4 hours ago
Beyond the diploma: Skills that actually get graduates hired
Future of WorkWorkplace Innovation Summit
Beyond the diploma: Skills that actually get graduates hired
By Ashley LutzMay 22, 2026
5 hours ago
satya nadella
AITech
Microsoft reports are exposing AI’s real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
5 hours ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
1 day ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
2 days ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
3 days ago
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
Workplace Culture
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
By Sydney LakeMay 20, 2026
2 days ago
McKinsey partner says up to 50% of work hours could be transformed within the next 5 years
AI
McKinsey partner says up to 50% of work hours could be transformed within the next 5 years
By Emma BurleighMay 21, 2026
1 day ago
Current price of oil as of May 21, 2026
Personal Finance
Current price of oil as of May 21, 2026
By Joseph HostetlerMay 21, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.