In 2021, a third of the top 100 fastest-growing companies in the world were from the financial sector. Two years later, the grasp on growth that financials once had is no more: There are now only nine financial companies on the Fortune 100 Fastest-Growing Companies list.
Meanwhile, industrials came out on top this year, with 22 companies featured on the list. This relatively broad category includes electric-auto giant Tesla—which makes its list debut this year, in the No. 2 spot. Among the factors propelling it to the top: Tesla’s earnings per share grew at a three-year average rate of 285%—the third-highest rate of any company on this list. The only company to outpace Tesla overall this year: a construction-supply company with which it shares a home state.
