With corporate profits reaching record highs, some companies have been blamed for jacking up prices under the cover of inflation in what’s been termed “greedflation.” Though PepsiCo is regularly mentioned in connection to that practice, its profit per employee is among the lower ones in the S&P 500.

Net income per employee is considered a measure of productivity and efficiency, and companies aim to have high profits per employee. The benchmark is most useful when comparing companies within a certain industry as industries differ in their makeup and some are more labor intensive than others.

To find which companies have the highest profits per employee, 24/7 Wall St. reviewed data on S&P 500 companies from stock data site Stock Analysis and from Yahoo! Finance. Market capitalization data for the companies is as of the end of trading day on May 2.

We excluded companies without employee data, all REITs, and Pioneer Natural Resources, which became part of ExxonMobil as of May 3, for a remaining total of 471 companies. (Prior to May 3, Pioneer ranked third highest in profits per employees.) While we included trailing twelve month net income and revenue figures, the 50 companies are ranked by their profit per employee. (Rankings of other measures include all companies.)

Among the 50 companies on the list, profit per employee begins at $277,778 for asset management firm BlackRock, Inc. (NYSE: BLK) and goes up from there. The company with the highest profit per employee is oil & gas exploration and production company Diamondback Energy, Inc. (NASDAQ: FANG) at just over $3 million in profit per employee. The average for the S&P 500 companies with data is nearly $60,000. The average for the 50 companies on the list is $502,000.

Many of the companies with the highest net income per employee are energy companies, including seven of the top 10. The three other companies in the top 10 include tech companies VeriSign (NASDAQ: VRSN) and Nvidia (NASDAQ: NVDA) as well as tobacco giant Altria Group (NYSE: MO). (Also see: These Are The Youngest Fortune 500 CEOs Today.)

The companies on the list are varied in terms of size. A few have less than 1,000 employees, including VeriSign and electronic trading platform MarketAxess (NASDAQ: MKTX), and a few have over 100,000 employees, including tech behemoths Apple (NASDAQ: AAPL), Alphabet (NASDAQ: GOOGL), and Microsoft (NASDAQ: MSFT). Similarly, profits range from $258 million to just over $100 billion.

Why Are We Covering This

For investors, net income per employee is an interesting measure. For one, it can show how a company compares to others in its industry, with higher profits per employee denoting better productivity, efficiency, and how a company is able to turn talent into value. Higher profits per employee can also allow for growth and investment in the business, including, importantly, investment in the company’s own employees by way of raises and benefits.

50. BlackRock, Inc.

• Profit per employee: $277,778
• Employees: 19,800 (#272 most of 497 companies)
• Profit (TTM): $5.50 billion (#69 highest of 500 companies)
• Revenue (TTM): $17.86 billion (#189 highest of 500 companies)
• Market capitalization (May 2): $112.75 billion (#82 highest of 500 companies)
• Industry: Asset Management

49. Johnson & Johnson

• Profit per employee: $291,736
• Employees: 131,900 (#47 most of 497 companies)
• Profit (TTM): $38.48 billion (#7 highest of 500 companies)
• Revenue (TTM): $81.80 billion (#43 highest of 500 companies)
• Market capitalization (May 2): $361.27 billion (#18 highest of 500 companies)
• Industry: Drug Manufacturers – General

48. MarketAxess Holdings Inc.

• Profit per employee: $292,917
• Employees: 881 (#467 most of 497 companies)
• Profit (TTM): $258.06 million (#449 highest of 500 companies)
• Revenue (TTM): $752.55 million (#498 highest of 500 companies)
• Market capitalization (May 2): $7.88 billion (#490 highest of 500 companies)
• Industry: Capital Markets

47. Blackstone Inc.

• Profit per employee: $293,559
• Employees: 4,735 (#438 most of 497 companies)
• Profit (TTM): $1.39 billion (#249 highest of 500 companies)
• Revenue (TTM): $8.02 billion (#335 highest of 500 companies)
• Market capitalization (May 2): $143.86 billion (#57 highest of 500 companies)
• Industry: Asset Management

46. Regeneron Pharmaceuticals, Inc.

• Profit per employee: $293,680
• Employees: 13,450 (#335 most of 497 companies)
• Profit (TTM): $3.95 billion (#101 highest of 500 companies)
• Revenue (TTM): $13.12 billion (#246 highest of 500 companies)
• Market capitalization (May 2): $101.61 billion (#90 highest of 500 companies)
• Industry: Biotechnology

45. Incyte Corporation

• Profit per employee: $295,341
• Employees: 2,524 (#456 most of 497 companies)
• Profit (TTM): $745.44 million (#360 highest of 500 companies)
• Revenue (TTM): $3.77 billion (#444 highest of 500 companies)
• Market capitalization (May 2): $11.92 billion (#451 highest of 500 companies)
• Industry: Biotechnology

44. Occidental Petroleum Corporation

• Profit per employee: $299,920
• Employees: 12,570 (#345 most of 497 companies)
• Profit (TTM): $3.77 billion (#105 highest of 500 companies)
• Revenue (TTM): $28.92 billion (#121 highest of 500 companies)
• Market capitalization (May 2): $57.32 billion (#152 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

43. Gilead Sciences, Inc.

• Profit per employee: $315,000
• Employees: 18,000 (#283 most of 497 companies)
• Profit (TTM): $5.67 billion (#67 highest of 500 companies)
• Revenue (TTM): $27.12 billion (#126 highest of 500 companies)
• Market capitalization (May 2): $81.46 billion (#109 highest of 500 companies)
• Industry: Drug Manufacturers – General

42. Lennar Corporation

• Profit per employee: $330,511
• Employees: 12,284 (#350 most of 497 companies)
• Profit (TTM): $4.06 billion (#99 highest of 500 companies)
• Revenue (TTM): $35.06 billion (#105 highest of 500 companies)
• Market capitalization (May 2): $42.82 billion (#204 highest of 500 companies)
• Industry: Residential Construction

41. Mastercard Incorporated

• Profit per employee: $354,790
• Employees: 33,400 (#196 most of 497 companies)
• Profit (TTM): $11.85 billion (#23 highest of 500 companies)
• Revenue (TTM): $25.70 billion (#134 highest of 500 companies)
• Market capitalization (May 2): $408.34 billion (#16 highest of 500 companies)
• Industry: Credit Services

40. Aflac Incorporated

• Profit per employee: $364,490
• Employees: 12,785 (#342 most of 497 companies)
• Profit (TTM): $4.66 billion (#80 highest of 500 companies)
• Revenue (TTM): $18.70 billion (#181 highest of 500 companies)
• Market capitalization (May 2): $48.49 billion (#178 highest of 500 companies)
• Industry: Insurance – Life

39. D.R. Horton, Inc.

• Profit per employee: $368,773
• Employees: 13,450 (#335 most of 497 companies)
• Profit (TTM): $4.96 billion (#74 highest of 500 companies)
• Revenue (TTM): $37.06 billion (#96 highest of 500 companies)
• Market capitalization (May 2): $47.90 billion (#182 highest of 500 companies)
• Industry: Residential Construction

38. Gen Digital Inc.

• Profit per employee: $378,378
• Employees: 3,700 (#443 most of 497 companies)
• Profit (TTM): $1.40 billion (#248 highest of 500 companies)
• Revenue (TTM): $3.79 billion (#442 highest of 500 companies)
• Market capitalization (May 2): $12.53 billion (#439 highest of 500 companies)
• Industry: Software – Infrastructure

37. Microsoft Corporation

• Profit per employee: $389,955
• Employees: 221,000 (#27 most of 497 companies)
• Profit (TTM): $86.18 billion (#3 highest of 500 companies)
• Revenue (TTM): $236.58 billion (#12 highest of 500 companies)
• Market capitalization (May 2): $2,956.87 billion (#1 highest of 500 companies)
• Industry: Software – Infrastructure

36. Phillips 66

• Profit per employee: $414,286
• Employees: 14,000 (#325 most of 497 companies)
• Profit (TTM): $5.80 billion (#64 highest of 500 companies)
• Revenue (TTM): $151.24 billion (#22 highest of 500 companies)
• Market capitalization (May 2): $60.99 billion (#146 highest of 500 companies)
• Industry: Oil & Gas Refining & Marketing

35. PulteGroup, Inc.

• Profit per employee: $427,766
• Employees: 6,382 (#419 most of 497 companies)
• Profit (TTM): $2.73 billion (#144 highest of 500 companies)
• Revenue (TTM): $16.44 billion (#200 highest of 500 companies)
• Market capitalization (May 2): $23.95 billion (#311 highest of 500 companies)
• Industry: Residential Construction

34. Marathon Petroleum Corporation

• Profit per employee: $433,516
• Employees: 18,200 (#279 most of 497 companies)
• Profit (TTM): $7.89 billion (#45 highest of 500 companies)
• Revenue (TTM): $148.44 billion (#24 highest of 500 companies)
• Market capitalization (May 2): $65.92 billion (#138 highest of 500 companies)
• Industry: Oil & Gas Refining & Marketing

33. Cincinnati Financial Corporation

• Profit per employee: $436,786
• Employees: 5,426 (#433 most of 497 companies)
• Profit (TTM): $2.37 billion (#168 highest of 500 companies)
• Revenue (TTM): $10.71 billion (#285 highest of 500 companies)
• Market capitalization (May 2): $18.19 billion (#370 highest of 500 companies)
• Industry: Insurance – Property & Casualty

32. Alphabet Inc.

• Profit per employee: $451,557
• Employees: 182,502 (#34 most of 497 companies)
• Profit (TTM): $82.41 billion (#4 highest of 500 companies)
• Revenue (TTM): $318.15 billion (#8 highest of 500 companies)
• Market capitalization (May 2): $2,071.28 billion (#4 highest of 500 companies)
• Industry: Internet Content & Information

31. Cboe Global Markets, Inc.

• Profit per employee: $459,927
• Employees: 1,647 (#463 most of 497 companies)
• Profit (TTM): $757.50 million (#357 highest of 500 companies)
• Revenue (TTM): $3.77 billion (#444 highest of 500 companies)
• Market capitalization (May 2): $18.38 billion (#366 highest of 500 companies)
• Industry: Financial Data & Stock Exchanges

30. Chevron Corporation

• Profit per employee: $468,640
• Employees: 45,600 (#159 most of 497 companies)
• Profit (TTM): $21.37 billion (#13 highest of 500 companies)
• Revenue (TTM): $200.95 billion (#14 highest of 500 companies)
• Market capitalization (May 2): $296.22 billion (#23 highest of 500 companies)
• Industry: Oil & Gas Integrated

29. ONEOK, Inc.

• Profit per employee: $471,204
• Employees: 4,775 (#437 most of 497 companies)
• Profit (TTM): $2.25 billion (#177 highest of 500 companies)
• Revenue (TTM): $17.94 billion (#187 highest of 500 companies)
• Market capitalization (May 2): $44.87 billion (#195 highest of 500 companies)
• Industry: Oil & Gas Midstream

28. Netflix, Inc.

• Profit per employee: $495,385
• Employees: 13,000 (#341 most of 497 companies)
• Profit (TTM): $6.44 billion (#57 highest of 500 companies)
• Revenue (TTM): $34.93 billion (#106 highest of 500 companies)
• Market capitalization (May 2): $243.56 billion (#28 highest of 500 companies)
• Industry: Entertainment

27. Arista Networks, Inc.

• Profit per employee: $519,513
• Employees: 4,023 (#442 most of 497 companies)
• Profit (TTM): $2.09 billion (#189 highest of 500 companies)
• Revenue (TTM): $5.86 billion (#388 highest of 500 companies)
• Market capitalization (May 2): $82.12 billion (#107 highest of 500 companies)
• Industry: Computer Hardware

26. Exxon Mobil Corporation

• Profit per employee: $533,333
• Employees: 61,500 (#115 most of 497 companies)
• Profit (TTM): $32.80 billion (#9 highest of 500 companies)
• Revenue (TTM): $341.10 billion (#7 highest of 500 companies)
• Market capitalization (May 2): $458.34 billion (#14 highest of 500 companies)
• Industry: Oil & Gas Integrated

25. CF Industries Holdings, Inc.

• Profit per employee: $566,667
• Employees: 2,700 (#454 most of 497 companies)
• Profit (TTM): $1.53 billion (#236 highest of 500 companies)
• Revenue (TTM): $6.63 billion (#368 highest of 500 companies)
• Market capitalization (May 2): $13.87 billion (#423 highest of 500 companies)
• Industry: Agricultural Inputs

24. The Williams Companies, Inc.

• Profit per employee: $567,756
• Employees: 5,601 (#427 most of 497 companies)
• Profit (TTM): $3.18 billion (#120 highest of 500 companies)
• Revenue (TTM): $10.91 billion (#283 highest of 500 companies)
• Market capitalization (May 2): $46.96 billion (#185 highest of 500 companies)
• Industry: Oil & Gas Midstream

23. Broadcom Inc.

• Profit per employee: $581,500
• Employees: 20,000 (#263 most of 497 companies)
• Profit (TTM): $11.63 billion (#24 highest of 500 companies)
• Revenue (TTM): $38.87 billion (#93 highest of 500 companies)
• Market capitalization (May 2): $573.98 billion (#10 highest of 500 companies)
• Industry: Semiconductors

22. Apple Inc

• Profit per employee: $626,770
• Employees: 161,000 (#40 most of 497 companies)
• Profit (TTM): $100.91 billion (#1 highest of 500 companies)
• Revenue (TTM): $385.71 billion (#4 highest of 500 companies)
• Market capitalization (May 2): $2,671.91 billion (#2 highest of 500 companies)
• Industry: Consumer Electronics

21. Visa Inc.

• Profit per employee: $638,542
• Employees: 28,800 (#213 most of 497 companies)
• Profit (TTM): $18.39 billion (#14 highest of 500 companies)
• Revenue (TTM): $34.14 billion (#109 highest of 500 companies)
• Market capitalization (May 2): $535.49 billion (#12 highest of 500 companies)
• Industry: Credit Services

20. Vertex Pharmaceuticals Incorporated

• Profit per employee: $670,370
• Employees: 5,400 (#434 most of 497 companies)
• Profit (TTM): $3.62 billion (#107 highest of 500 companies)
• Revenue (TTM): $9.87 billion (#299 highest of 500 companies)
• Market capitalization (May 2): $103.36 billion (#88 highest of 500 companies)
• Industry: Biotechnology

19. Meta Platforms, Inc.

• Profit per employee: $679,769
• Employees: 67,317 (#103 most of 497 companies)
• Profit (TTM): $45.76 billion (#6 highest of 500 companies)
• Revenue (TTM): $142.71 billion (#26 highest of 500 companies)
• Market capitalization (May 2): $1,120.34 billion (#6 highest of 500 companies)
• Industry: Internet Content & Information

18. Arch Capital Group Ltd.

• Profit per employee: $687,500
• Employees: 6,400 (#417 most of 497 companies)
• Profit (TTM): $4.40 billion (#87 highest of 500 companies)
• Revenue (TTM): $13.63 billion (#242 highest of 500 companies)
• Market capitalization (May 2): $35.70 billion (#244 highest of 500 companies)
• Industry: Insurance – Diversified

17. Airbnb, Inc.

• Profit per employee: $693,499
• Employees: 6,907 (#411 most of 497 companies)
• Profit (TTM): $4.79 billion (#78 highest of 500 companies)
• Revenue (TTM): $9.92 billion (#296 highest of 500 companies)
• Market capitalization (May 2): $102.04 billion (#89 highest of 500 companies)
• Industry: Travel Services

16. EQT Corporation

• Profit per employee: $703,939
• Employees: 881 (#467 most of 497 companies)
• Profit (TTM): $620.17 million (#392 highest of 500 companies)
• Revenue (TTM): $5.66 billion (#390 highest of 500 companies)
• Market capitalization (May 2): $17.43 billion (#385 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

15. Valero Energy Corporation

• Profit per employee: $707,509
• Employees: 9,908 (#376 most of 497 companies)
• Profit (TTM): $7.01 billion (#52 highest of 500 companies)
• Revenue (TTM): $140.09 billion (#27 highest of 500 companies)
• Market capitalization (May 2): $51.45 billion (#166 highest of 500 companies)
• Industry: Oil & Gas Refining & Marketing

14. Hess Corporation

• Profit per employee: $785,877
• Employees: 1,756 (#461 most of 497 companies)
• Profit (TTM): $1.38 billion (#251 highest of 500 companies)
• Revenue (TTM): $10.65 billion (#286 highest of 500 companies)
• Market capitalization (May 2): $48.85 billion (#176 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

13. NextEra Energy, Inc.

• Profit per employee: $788,421
• Employees: 9,500 (#383 most of 497 companies)
• Profit (TTM): $7.49 billion (#48 highest of 500 companies)
• Revenue (TTM): $27.13 billion (#125 highest of 500 companies)
• Market capitalization (May 2): $141.45 billion (#61 highest of 500 companies)
• Industry: Utilities – Regulated Electric

12. Everest Group, Ltd.

• Profit per employee: $886,076
• Employees: 2,844 (#453 most of 497 companies)
• Profit (TTM): $2.52 billion (#158 highest of 500 companies)
• Revenue (TTM): $14.59 billion (#227 highest of 500 companies)
• Market capitalization (May 2): $16.14 billion (#396 highest of 500 companies)
• Industry: Insurance – Reinsurance

11. CME Group Inc.

• Profit per employee: $886,396
• Employees: 3,565 (#445 most of 497 companies)
• Profit (TTM): $3.16 billion (#122 highest of 500 companies)
• Revenue (TTM): $5.63 billion (#392 highest of 500 companies)
• Market capitalization (May 2): $74.70 billion (#119 highest of 500 companies)
• Industry: Financial Data & Stock Exchanges

10. VeriSign, Inc.

• Profit per employee: $917,401
• Employees: 908 (#465 most of 497 companies)
• Profit (TTM): $833.00 million (#340 highest of 500 companies)
• Revenue (TTM): $1.51 billion (#494 highest of 500 companies)
• Market capitalization (May 2): $16.77 billion (#392 highest of 500 companies)
• Industry: Software – Infrastructure

9. Marathon Oil Corporation

• Profit per employee: $922,070
• Employees: 1,681 (#462 most of 497 companies)
• Profit (TTM): $1.55 billion (#233 highest of 500 companies)
• Revenue (TTM): $6.70 billion (#362 highest of 500 companies)
• Market capitalization (May 2): $15.06 billion (#410 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

8. NVIDIA Corporation

• Profit per employee: $1,005,405
• Employees: 29,600 (#209 most of 497 companies)
• Profit (TTM): $29.76 billion (#10 highest of 500 companies)
• Revenue (TTM): $60.92 billion (#57 highest of 500 companies)
• Market capitalization (May 2): $2,145.43 billion (#3 highest of 500 companies)
• Industry: Semiconductors

7. Conoco Phillips

• Profit per employee: $1,107,071
• Employees: 9,900 (#377 most of 497 companies)
• Profit (TTM): $10.96 billion (#28 highest of 500 companies)
• Revenue (TTM): $58.57 billion (#61 highest of 500 companies)
• Market capitalization (May 2): $143.17 billion (#58 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

6. APA Corporation

• Profit per employee: $1,259,357
• Employees: 2,271 (#458 most of 497 companies)
• Profit (TTM): $2.86 billion (#134 highest of 500 companies)
• Revenue (TTM): $8.19 billion (#330 highest of 500 companies)
• Market capitalization (May 2): $10.82 billion (#461 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

5. Altria Group, Inc.

• Profit per employee: $1,323,438
• Employees: 6,400 (#417 most of 497 companies)
• Profit (TTM): $8.47 billion (#39 highest of 500 companies)
• Revenue (TTM): $24.34 billion (#140 highest of 500 companies)
• Market capitalization (May 2): $75.54 billion (#117 highest of 500 companies)
• Industry: Tobacco

4. Coterra Energy Inc.

• Profit per employee: $1,823,266
• Employees: 894 (#466 most of 497 companies)
• Profit (TTM): $1.63 billion (#224 highest of 500 companies)
• Revenue (TTM): $5.91 billion (#384 highest of 500 companies)
• Market capitalization (May 2): $20.41 billion (#344 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

3. Devon Energy Corporation

• Profit per employee: $1,973,684
• Employees: 1,900 (#460 most of 497 companies)
• Profit (TTM): $3.75 billion (#106 highest of 500 companies)
• Revenue (TTM): $15.26 billion (#215 highest of 500 companies)
• Market capitalization (May 2): $31.85 billion (#265 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

2. EOG Resources, Inc.

• Profit per employee: $2,488,525
• Employees: 3,050 (#450 most of 497 companies)
• Profit (TTM): $7.59 billion (#47 highest of 500 companies)
• Revenue (TTM): $24.19 billion (#141 highest of 500 companies)
• Market capitalization (May 2): $76.44 billion (#115 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

1. Diamondback Energy, Inc.

• Profit per employee: $3,042,636
• Employees: 1,032 (#464 most of 497 companies)
• Profit (TTM): $3.14 billion (#123 highest of 500 companies)
• Revenue (TTM): $8.41 billion (#324 highest of 500 companies)
• Market capitalization (May 2): $35.25 billion (#247 highest of 500 companies)
• Industry: Oil & Gas Exploration & Production

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