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Elkhart Manufacturers Take Top Spots in Industry Ranking

Monday, September 25, 2017

Industry Week magazine recently published its 2017 “50 Best U.S. Manufacturers” list, and all three top spots were taken by Elkhart-based companies in this year’s annual ranking.

According to this analysis, the top three manufacturers are all in the Elkhart, IN area and are all involved with the recreational vehicle industry:

  1. Patrick Industries, Inc. with $1.2 billion in revenue and 32.8% revenue growth
  2. Drew Industries Inc. (now known as LCI Industries Inc.) with $1.7 billion in revenue and 19.7% revenue growth
  3. Thor Industries Inc. with $4.6 billion in revenue and 14.4% revenue growth

Other notables on the list included Apple Inc. ranked 6th, Nike ranked 13th and Lockheed Martin Corp. ranked 16th.

The creators of the ranking reported that “12 of the previous top 17 are right back in the upper third again this year. These companies are strong and steady, like metronomes. At the same time, the company that tops this edition of the U.S. 50 is an incredible surprise. It, too, is strong, steady and relatively metronomic, but when its financial numbers were plugged into our proprietary formula, it also exploded like some sort of supernova.”

As reported by Industry Week, Patrick Industries Inc. has expanded both its offerings and its acquisitions in recent years, affording it "the opportunity to … further expand our presence as a key component supplier," CEO Todd Cleveland said in a recent earnings call.  "We are focused on continuing to drive strong growth on both the top and bottom line," he said. "Make strategic acquisitions in our existing businesses and similar markets, reinvest in our business through capital expenditures and workforce planning, and maximize efficiencies to support our long-term strategic growth initiatives."

The industry publication ranks public manufacturers based on a set of primarily financial metrics for this ranked list, using six key areas:

  • Inventory turns
  • Profit margin
  • Asset turns
  • Return on assets
  • Return on equity
  • Revenue growth

Performance in these categories is over a three-year period but the data is weighted, with the most recent year counting for 50 percent of the calculation, the next year at 30 percent and the oldest year at 20 percent.

To view the full list from Industry Week, visit:

Industry Week


Patrick Industries, Inc.