America's Best Midsize Companies of 2025

Time​ Magazine

10-07-2025

I n the U.S., large companies dominate headlines and industry discussions, but mid-sized companies, which have revenues between $100 million to $10 billion, undergird the economy. To provide a comprehensive view of that economic foundation, TIME and Statista have created the second annual list of the best mid-sized companies in the U.S., ranked by employee satisfaction, revenue growth, and sustainability transparency. The list includes both the core and upper mid-market segments; the upper threshold of $10 billion annual revenue aims to capture the most influential players within this category, along with the emerging leaders. But these are not startups.
'The average age of a mid-sized company in the U.S. is about 34 years,' says Doug Farren, the managing director of the National Center for the Middle Market at The Ohio State University Fisher College of Business. 'They're really at a sweet spot where they have enough years of experience, sustained success, to be able to expand into new markets, introduce new products and services. A lot of them are thinking about ways that they can innovate and grow.'
These businesses, based locally and regionally, make up the backbone of many communities, according to Farren, and over 90 percent of mid-size businesses are private. 'Most of these companies tend to be in the supply chains of larger and smaller companies,' Farren says. 'The automotive industry, for example, [has] 3,000 to 5,000 suppliers who just make parts for automotive manufacturing in the U.S., and they're all mid-sized companies themselves.'
Technology and life sciences are the two fastest growing industries in the mid-market, echoing a much larger trend of U.S. tech dominance and leadership in drug innovation.
In the tech space, Airbnb took the top spot in this year's list, followed by Hubspot, the first customer service platform to integrate ChatGPT. TIME and Statista used 2023 financial data for the list, during which Airbnb had an annual revenue of $9.9 billion, but last December, the company reported a 2024 annual revenue of $11.1 billion, putting it on the precipice of becoming a large-cap company. In its first quarter 2025 letter to shareholders, the company wrote that it's been laying the groundwork for long-term growth and its 'next chapter,' while navigating changing global regulations around short-term rentals. This involves a redesigned Airbnb app that allows users to book services and experiences.
Intuitive (no. 13), a leader in surgery robots, is behind the robotic surgical system used in the world's first fully robotic lung transplant at NYU and first robotic heart transplant at Baylor. 'Since the pandemic, we've seen life sciences really take off,' Farren says. 'Things like testing centers, laboratories, not necessarily big pharma, but places that support that industry, [have had] rapid growth.' In May, Intuitive received an extended FDA clearance for colorectal surgery, and its first quarter revenue of $2.25 billion was 19% higher compared to the first quarter of 2024, with much of the growth due to more robotic surgeries.
New Balance is the top apparel, footwear, and sporting goods company (at no. 3), thanks to the popularity of comfy 'dad-shoes', and collabs with athletes and buzzy brands like Miu Miu, Loro Piana, and Ganni. In 2024, it reported $7.8 billion in sales, and projects to reach $10 billion in sales in the next few years. The private Boston-based brand launched a 'Made in USA' line in 2024 with 70% of its products hand stitched in domestic factories across Massachusetts and Maine.
But despite domestic manufacturing, tariffs are a major concern for many of the midsize U.S. companies on the list. 'Sourcing is a global activity,' says Farren. Which means imposing tariffs in hopes of bringing manufacturing back to the U.S. is 'not that simple…You have to find new suppliers…but it won't be quick, and it won't be cheap.' —Charlotte Hu
See the full list below.