When people think of Wisconsin, they usually think of cheddar cheese, the Packers, and maybe a Harley-Davidson rumbling down a country road. But honestly, if you look at the raw numbers, the state is a massive heavyweight in sectors you might not expect. We’re talking global staffing, high-end fintech, and some of the world's most sophisticated automation technology.
The landscape of the largest companies in Wisconsin has shifted a lot lately. Some old-school giants are pivoting to survive, while others are quietly raking in billions of dollars from nondescript office parks in the suburbs of Milwaukee and Madison.
The Revenue Heavyweights
Let's talk about the big dogs. If we’re judging by pure revenue, Northwestern Mutual is usually the one sitting at the head of the table. They’ve been around since the 1850s, which is wild to think about. By 2025, their revenue hit somewhere north of $38 billion. They aren't just selling life insurance anymore; they’ve basically turned into a wealth management fortress with more than $700 billion in total assets under management.
Then you have ManpowerGroup. They’re based in Milwaukee, but they are a global monster. Their revenue is often in the $18 billion range, though they’ve had some rocky quarters recently. Staffing is a weird business—it’s the first to feel a recession and the first to feel a boom. They recently had some layoffs at their headquarters, which sorta highlights how sensitive they are to the global economy.
The Private Giants: Menards and ABC Supply
You can’t talk about the largest companies in Wisconsin without mentioning the private ones. Since they don't have to report to the SEC, they're a bit more mysterious, but their impact is huge.
✨ Don't miss: Maine Income Tax Estimator: How to Get Your Pine Tree State Math Right
Menards is the obvious one. John Menard Jr. has built an empire from Eau Claire. They employ roughly 45,000 people across the Midwest. If you’ve ever walked into one of those stores, you know it’s a different vibe than Home Depot—it’s more like a hardware store crossed with a grocery store and a lumber yard.
Then there’s ABC Supply Co. in Beloit. Diane Hendricks, who is frequently cited as one of the richest self-made women in America, runs this massive roofing and siding distributor. They’ve been on an acquisition tear for years. In 2025, they were ranked right up there with the biggest private firms in the country.
The Tech and Industrial Powerhouses
Fiserv is a name you see on the side of the Milwaukee Bucks' arena, but do you actually know what they do? Basically, if you pay for something with a credit card or through an app, there’s a good chance Fiserv is the "plumbing" behind that transaction. They moved their headquarters to downtown Milwaukee recently, bringing about 800 jobs with them. Their market value is huge—around $85 billion—making them one of the most valuable public companies in the state.
Rockwell Automation is another one. They are the reason factories around the world run without people having to pull levers manually. Their headquarters in Milwaukee still has that iconic four-faced clock tower. As of late 2025, they were valued at about $38 billion. They’ve had to navigate some tricky waters with global manufacturing demand slowing down, but they remain the "gold standard" for industrial tech.
Notable Mentions (The "Billion-Dollar Club")
- Kohl’s: Based in Menomonee Falls. They’ve been struggling a bit, closing some stores and shrinking their footprint, but still bring in over $15 billion a year.
- American Family Insurance: A Madison staple. They finally saw some underwriting profit in 2024 and 2025 after a couple of rough years with high claims.
- WEC Energy Group: The utility giant. They basically keep the lights on for most of the state and have a market value of roughly $33 billion.
- Kwik Trip: Honestly, this is the most beloved company in the state. They have over 36,000 employees and just keep opening more "Glazer" donut-filled stores every week.
Why the Location Matters
Why do these companies stay? Honestly, it's often about the "Midwest work ethic" (which is a cliche, but real) and the cost of doing business. It’s cheaper to run a global headquarters in Brookfield than in Manhattan.
However, it's not all beer and skittles. These companies are fighting for talent. Epic Systems out in Verona (near Madison) has a campus that looks like a cross between a theme park and a university. They have to do that to lure software engineers away from Silicon Valley. Epic is privately held but dominates the electronic health records market. If you’ve ever used "MyChart," you’ve used Epic.
Actionable Insights for Job Seekers and Investors
If you're looking at the largest companies in Wisconsin for a career move or an investment, here’s what you should actually do:
🔗 Read more: Fast Food Restaurants Logos: Why You're Suddenly Hungry for Red and Yellow
- Look at the "Hidden" Tech Sector: Don't just look for "tech companies." Look at Fiserv, Rockwell, and Epic. They are the real engines of high-paying tech jobs in the state.
- Follow the Private Leaders: Companies like Uline and Kwik Trip are expanding aggressively. They often offer better stability than public companies that are beholden to quarterly earnings calls.
- Monitor the Milwaukee/Madison Corridor: Most of the state's economic power is concentrated in this southeast corner. If you want to be near the big players, that's the place to be.
- Research "Wisconsin 75": Every year, Deloitte puts out a list called the "Wisconsin 75" which highlights the top private companies. It’s a goldmine for finding companies that aren't in the headlines every day but are incredibly successful.
The Wisconsin economy is way more than just agriculture. It’s a weird, successful blend of old-school manufacturing, massive insurance pools, and cutting-edge financial tech.
Next Steps for You:
If you're curious about a specific sector, like the growing biotech scene in Madison or the heavy machinery industry in Oshkosh, I can help you find more granular data on their recent earnings or hiring trends. You might also want to look into the specific tax incentives the state is currently offering for companies moving into the "Water Council" hub in Milwaukee.