What Are the Fastest Growing Companies in the World?
Ask three business analysts what the fastest growing companies in the world are, and you’re like to get three unique answers. Different analysts will look at different figures and come up with a wide range of responses, probably because the term “fastest growing” is not well defined. The list below of the ten fastest growing companies in the world comes from multiple sources, including Forbes, CNN Money, and Fortune.
There are some interesting trends in the list of the 100 fastest growing companies worldwide.Taking a close look at the United States of America, it is easy to see that the state of Texas is home to more of the world’s top 100 fastest growing companies than any other part of the country. The reasons for this are legion, but can be easily explained by the fact that Texas is the state that has been least affected by the American economic downturn, due to low land prices and a rather austere state wide financial policy going back decades.
Another trend worth noting — fewer web-based companies making the list of the world’s fastest growing. There are more energy and industrial based companies this year than in recent years, perhaps indicating that the “dot com” boom is really over. That isn’t to say that web based companies aren’t growing. Many of them are. But growth in other sectors is outpacing the Internet.
Research In Motion
The BlackBerry Curve is the highest selling smart phone in America (sorry, Apple) and the people at Canada’s Research In Motion are responsible. RIM is growing at a ridiculous rate — 77 percent growth over three years — and has enough cash in the bank to feel secure. Revenue over the past four quarters is over $11 billion, all thanks to America’s hunger for awesome smart phones. Regularly listed as one of Canada’s “top employers”, RIM has just recently branched out with new offices in Australia. News this year that competitor Motorola is bringing a lawsuit against RIM for copyright infringement have done little to slow the explosive growth of this telecom giant.
There’s plenty to be excited about when it comes to First Solar. A bright spot in this top ten list, First Solar is a “clean” energy company showing huge growth numbers. Founded in 1999 to “provide an economic solution to the need for alternative energy sources”, First Solar is the fastest growing solar power company in the world. First Solar is also the largest manufacturer of solar modules in the world, and have famously created the lowest manufacturing “cost per watt” in the industry at just $1.14 / watt. Since 2004, First Solar has at least doubled its revenue every year.
Making deals with two big players in the tech world is a surefire way to boost your company’s growth numbers. Sigma Designs has famously paired up with both Microsoft and Blu-ray, providing chips for Blu-ray players as well as Microsoft’s new “Internet TV” sets. For a company that has already grown over 100% over the past twelve quarters, posting an annual revenue of over $200 million was not a big shock. Based out of California, Sigma Designs has become a model for west coast tech companies looking to escape the drastic effects of the economic recession.
Atlanta, Georgia’s “Ebix” is the growth story you probably haven’t heard about. This rather quiet software development company (working mostly with the insurance industry) earned over $70 million over the last four quarters, and boasts a 50% growth rate over the past three years.
One of the only entertainment industry names on this list is this unassuming company from Texas. DG Fastchannel is an advertisement and programming distributor that has branched out into online ads as well. This company earned over $170 million in revenue this year, adding to a growth trend that’s seen a 50% increase over the past three years.
CF Industries Holdings
This company makes mostly nitrogen based fertilizers — in fact, 75% of their business comes from such products — and the falling price of natural gas has made their business a lot more profitable. This Deerfield, Illinois based company earned almost $4 billion in revenue over the past year, contributing to an overall growth trend of about 40% for the past twelve quarters.
Shanda Interactive Entertainment
Shanda is China’s biggest online-gaming company, and they’ve increased their customer base dramatically, adding even more players to what was already the world’s largest Internet market, gaming or otherwise. Their three year growth rate is not as stunning as some of the other companies on this list, only 34%, but their huge revenue and an increase in customers means Shanda is a company to watch..
If you’re a natural gas and oil driller and you open over 200 new wells in a single year, you’re bound to see growth. That’s just what Oklahoma’s Arena Resources did over the last twelve months, and the result is nearly 100% growth over three years and revenue nearing the $200 million mark.
In a world of dot com startups and smart phones, it is easy to forget that the health care industry is growing rapidly. Massachusetts based Bruker company makes X-ray and MRI machines, and as the baby boomer generation gets older, these items are in higher and higher demand. This is a business that boasts $1 billion in revenue over the past year, with total growth across the past twelve quarters of well over 50%.
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