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Fortune, JUST Capital Rankings Show Wide Support for Stakeholder Capitalism Principles

Two widely respected business rankings based on the priorities of American citizens and the views of business executives, respectively, have come up with a similar list of best companies—all based on their commitment to addressing the needs of their shareholders and stakeholders. Combined, the stocks rose 92% without Nvidia, outperforming the S&P 500 by 11% over five years, not including dividends. With Nvidia, the stocks returned 3,442%. 

Fortune Methodology
JUST Capital Methodology
Comparison of Fortune Most Admired and JUST Capital List

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Both the American public and business leaders agree: companies that focus on the needs of their employees, customers, communities, and their employees are better for business and society.
 
Two highly respected ratings each ranking the best 100 US companies using different methodologies have agreed on the 20 best US companies, even though the selection processes have little in common.
 
For its list of the best US companies, JUST Capital  selects companies on how they rank on the issues that matter most to Americans:  how they treat employees, customers, and communities, and their governance and environment practices. The Fortune 100 Most Admired Companies are ranked by about 3,400 executives, directors, and securities analysts abased on nine criteria including ability to attract and retain talent, social responsibility, product quality, quality of management, and more listed below. 
 
Out of 100 companies selected by Fortune and JUST Capital, 20 appear on both lists, a surprising overlap given that JUST Capital only ranks US public companies and Fortune’s includes about 30% firms located outside the US. Eleven of the 20 companies listed in green outperformed the S&P 500 over five years. Collectively, without Nvidia, they ouperformed the S&P 500 by 11%; with Nvidia, 3,442%. Note, this does not include dividends. 

Fortune Methodology 

 
Fortune collaborates with Korn Ferry on this annual survey of corporate reputations. The selection process begins with “a universe of about 1,500 candidates: the 1,000 largest US companies ranked by revenue, along with non-US companies in Fortune’s Global 500 database that have revenues of $10 billion or more. It winnows the assortment to the highest-revenue companies in each industry, a total of 650 in 30 countries. The top-rated companies were picked from that pool of 650; the executives who voted work at the companies in that group.”
 
To determine the best-regarded companies in 51 industries, Korn Ferry asked executives, directors, and analysts to rate enterprises in their own industry on nine criteria closely related to the principles of stakeholder management—enhancing returns by creating value for all stakeholders and communities.
 
1. Ability to attract and retain talent
2. Social responsibility
3. Quality of management
4. Quality of products/services
5. Long-term investment value
6. Customer satisfaction
7. Innovation
8. Global competitiveness
9. Use of corporate assets
 

JUST Capital Methodology Just Capital

 
Companies are selected from the Russell 1,000 based on the priorities of Americans through an annual survey. This survey was last fielded among a general population sample of 2,127 US adults, (weighted to match the US census demographics for region, gender, age, education, race, and ethnicity) using the Qualtrics survey tool between May 7 and 13, 2024.
 
For the purpose of establishing this year’s rankings, companies were evaluated based on evaluating treatment of:
 
Workers: How a company invests in its employees. Ranking weight: 39%
 
Customers: How a company treats its customers. Ranking weight: 26%
 
Shareholders and governance: How a company prioritizes good governance. Ranking weight: 13%
 
Communities: How a company supports its communities. Ranking weight: 13%.
 
Environment: How a company minimizes environmental impact. Ranking weight: 9%
 
To evaluate companies, analysts review financial statements, S&PCapIQ reports, Institutional Shareholder Services reports, the ESG Book, Violation Tracker, and more.

Comparison of Fortune Most Admired and JUST Capital List

 
Companies highlighted in yellow appear on both lists.
   
                   
                   
Fortune       JUST        
                   
Apple         Hewlett Packard Enterprise Company  
Microsoft       HP Inc        
Amazon         Bank of America        
Nvidia         Union Pacific Corp      
Berkshire Hathaway     Accenture        
Costco Wholesale       Trane Technologies    
JPMorgan Chase       Eversource Energy      
Walmart         Bank of New York        
Alphabet         Citigroup Inc      
American Express       The Cigna Group      
Delta Air Lines       Principal Financial Group Inc    
Coca-Cola       Dow Inc        
Walt Disney       Applied Materials        
Marriott International     Medtronic plc      
Netflix         The Hershey Company    
Home Depot       ServiceNow        
Salesforce         Verizon Communications Inc    
Goldman Sachs Group     Huntington Bancshares Inc    
Procter & Gamble       Alphabet        
FedEx         American Electric Power Company Inc  
Eli Lilly         M&T Bank Corp      
BlackRock         Nasdaq Inc      
BMW         AMD        
NIKE         Elevance Health      
Toyota Motor       The Hartford Financial Services Group Inc
USAA         Ecolab Inc      
Target         S&P Global Inc      
Singapore Airlines       Organon & Co      
Starbucks         Akamai Technologies Inc    
Accenture         Salesforce        
Johnson & Johnson       Abbott Laboratories        
Nordstrom       Mastercard        
Morgan Stanley       Fifth Third Bancorp      
Visa         Zillow Group Inc      
UPS         Marathon Petroleum Corp    
Bank of America       Intel Corp      
Danaher         JPMorgan Chase        
Pfizer         Duke Energy Corporation    
Publix Super Markets     American Express        
Caterpillar       PNC Financial Services Group Inc  
L'Oreal         Merck & Co Inc      
ServiceNow       Boston Scientific        
IBM         Nvidia        
PepsiCo         Qualcomm Inc      
Taiwan Semiconductor     Avangrid Inc      
Novo Nordisk       Visa        
Mastercard       Truist Financial Corporation    
Lowes         T-Mobile US Inc      
Samsung Electronics     CF Industries Holdings Inc    
Adobe         IBM        
ABB         Equinix Inc      
Abbott Laboratories       Lear Corporation      
AbbVie         Micron Technology Inc    
AMD     Edwards Lifesciences Corp    
AECOM         PayPal Holdings Inc    
Aflac         Illumina Inc      
AGCO         BlackRock        
Air France-KLM Group     PG&E Corporation      
Airbnb         Keysight Technologies Inc    
Airbus         Freeport-McMoRan Inc    
Alibaba Group Holding     Edison International    
Alimentation Couche-Tard     Johnson Controls International plc  
American Tower       PPL Corp        
Amgen         Entergy Corporation    
Amphenol       Dayforce Inc      
ANA Holdings       Adobe        
Applied Materials       Delta Air Lines        
ArcelorMittal       AES Corp        
Arrow Electronics       Assurant Inc      
ASML Holding       Hasbro Inc      
AstraZeneca       Bristol-Myers Squibb Co    
Asustek Computer       Otis Worldwide Corporation    
AT&T         Ciena Corporation      
Autodesk       Public Service Enterprise Group Inc  
Automatic Data Processing     Apple        
AutoNation       KeyCorp        
Avery Dennison       Owens Corning      
Avnet         Humana Inc      
Ball         Prudential Financial Inc    
Banco Santander       Comerica Inc      
Bank of New York       Affirm Holdings Inc      
BASF         Cummins Inc      
Bayer         Ball Corp        
Becton Dickinson       Gilead Sciences Inc    
Beiersdorf       RTX Corp        
Best Buy         The Allstate Corporation    
Booking Holdings       Lincoln National Corp    
Booz Allen Hamilton Holding     Agilent Technologies Inc    
BorgWarner       Constellation Energy Corporation  
Bosch         Workday Inc.      
Boston Scientific       Cirrus Logic Inc      
Bridgestone       Goldman Sachs        
Broadridge Financial Solutions   American Water Works Company Inc  
Bunge Global       Colgate-Palmolive Company    
C.H. Robinson Worldwide     Capital One Financial        
CACI International       Texas Instruments Inc    
Canon         Starbucks        
Capgemini       Waste Management Inc    
Capital One Financial     Jones Lang LaSalle Inc    
Carnival         NIKE        


Enterprise Engagement Alliance Services
 
Enterprise Engagement for CEOsCelebrating our 15th year, the Enterprise Engagement Alliance helps organizations enhance performance through:
 
1. Information and marketing opportunities on stakeholder management and total rewards:


2. Learning: Purpose Leadership and StakeholderEnterprise Engagement: The Roadmap Management Academy to enhance future equity value for your organization.
 
3. Books on implementation: Enterprise Engagement for CEOs and Enterprise Engagement: The Roadmap.
 
4. Advisory services and researchStrategic guidance, learning and certification on stakeholder management, measurement, metrics, and corporate sustainability reporting.
 
5Permission-based targeted business development to identify and build relationships with the people most likely to buy.
 
Contact: Bruce Bolger at TheICEE.org; 914-591-7600, ext. 230. 
 

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