Companies with the most states of operation

143 US public companies that report states of operation in the notes of their 10-K or 10-Q filings, ranked by the latest figure. Together they report 4,082.

States of operation ranking

Each company's latest figure from the last two years; the change compares with the period about a year earlier.

#	Company	States of operation	As of	1-year change	Reported since	Market cap
1	jxnJackson Financial	50	Jun 30, 2026	–	2025	$9.14B
2	ang.pdAmerican National	50	Jun 30, 2026	0.0%	2018	$217.60K
3	elvElevance Health	50	Jun 30, 2026	0.0%	2013	$91.10B
4	imxiInternational Money Express	50	Jun 30, 2026	0.0%	2017	$276.74M
5	vmdViemed Healthcare	50	Jun 30, 2026	0.0%	2019	$368.31M
6	ufcsUnited Fire	50	Jun 30, 2026	0.0%	2020	$1.46B
7	ultaUlta Beauty	50	Aug 1, 2026	–	2011	$27.38B
8	abmABM Industries	50	Oct 31, 2025	0.0%	2011	$3.13B
9	nmihNMI	50	Jun 30, 2026	0.0%	2014	$3.21B
10	plntPlanet Fitness	50	Jun 30, 2026	0.0%	2015	$4.05B
11	actEnact	50	Jun 30, 2026	0.0%	2021	$6.49B
12	nnnNnn Reit	50	Jun 30, 2026	0.0%	2012	$7.87B
13	bootBoot Barn	49	Jun 27, 2026	0.0%	2013	$4.00B
14	txrhTexas Roadhouse	49	Jun 30, 2026	0.0%	2010	$11.98B
15	cnmCore & Main	49	Nov 2, 2025	0.0%	2021	$8.43B
16	drvnDriven Brands	49	Jun 27, 2026	0.0%	2021	$2.05B
17	tscoTractor Supply	49	Dec 27, 2025	0.0%	2015	$17.68B
18	dwsnDawson Geophysical	48	Dec 31, 2025	0.0%	2016	$56.83M
19	dltrDollar Tree	48	Nov 2, 2024	0.0%	2019	$25.12B
20	fcptFour Corners Property Trust	48	Jun 30, 2026	0.0%	2015	$2.47B
21	schwSchwab Charles	48	Dec 31, 2025	0.0%	2011	$152.27B
22	dgDollar General	48	Jan 30, 2026	0.0%	2012	$29.19B
23	unitUniti	47	Jun 30, 2026	–	2025	$1.23B
24	kpltKatapult	46	Jun 30, 2026	0.0%	2024	$51.61M
25	fiveFive Below	46	Aug 1, 2026	+4.5%	2016	$13.27B
26	ntstNetstreit	46	Jun 30, 2026	+2.2%	2020	$1.78B
27	cinfCincinnati Financial	46	Dec 31, 2025	0.0%	2011	$27.81B
28	burlBurlington Stores	46	Jan 31, 2026	0.0%	2014	$14.89B
29	lamrLamar Advertising	45	Dec 31, 2025	0.0%	2011	$16.00B
30	usphU S Physical Therapy	44	Mar 31, 2025	+4.8%	2012	$1.28B
31	bnlBroadstone Net Lease	44	Jun 30, 2026	0.0%	2017	$3.28B
32	playDave & Buster's Entertainment	44	Aug 4, 2026	0.0%	2016	$272.72M
33	mMacy's	43	Aug 1, 2026	0.0%	2021	$6.30B
34	bldrBuilders FirstSource	43	Jun 30, 2026	0.0%	2012	$6.98B
35	sphSuburban Propane Partners LP	42	Sep 27, 2025	0.0%	2013	$1.20B
36	exrExtra Space Storage	42	Jun 30, 2026	−2.3%	2011	$31.97B
37	bkeBuckle	42	Aug 1, 2026	0.0%	2010	$2.39B
38	conConcentra Group Holdings Parent	42	Dec 31, 2024	–	2024	$5.15B
39	ohiOmega Healthcare Investors	41	Jun 30, 2026	−2.4%	2011	$14.24B
40	stagSTAG Industrial	41	Mar 31, 2026	0.0%	2012	$7.11B
41	rsReliance	41	Dec 31, 2025	0.0%	2011	$22.31B
42	achcAcadia Healthcare	40	Jun 30, 2026	+2.6%	2012	$2.79B
43	avahAveanna Healthcare	39	Jul 4, 2026	+2.6%	2021	$2.87B
44	ehcEncompass Health	39	Jun 30, 2026	+2.6%	2016	$12.97B
45	fndFloor & Decor	39	Jun 25, 2026	+2.6%	2017	$5.07B
46	leslqLeslie's	38	Jul 4, 2026	−2.6%	2021	$299.70K
47	apleApple Hospitality REIT	37	Jun 30, 2026	0.0%	2020	$4.37B
48	cmrfCIM	36	Mar 31, 2026	0.0%	2012	$1.01B
49	olliOllie's Bargain Outlet	36	Aug 1, 2026	+5.9%	2015	$5.36B
50	chctCommunity Healthcare Trust	36	Jun 30, 2026	0.0%	2015	$374.22M
51	shoeShoe Station	35	Aug 1, 2026	0.0%	2020	$398.51M
52	cpptlCopper Property CTL Pass Through Trust	35	Jun 30, 2026	0.0%	2021	$750.38M
53	krKroger	35	Jan 31, 2026	0.0%	2023	$39.43B
54	sndaSonida Senior Living	35	Jun 30, 2026	+75.0%	2021	$1.65B
55	olpOne Liberty Properties	33	Jun 30, 2026	+3.1%	2012	$486.92M
56	ctrnCiti Trends	33	Aug 1, 2026	0.0%	2012	$401.63M
57	fwrgFirst Watch Restaurant	33	Jun 28, 2026	+6.5%	2021	$786.22M
58	dhcDiversified Healthcare Trust	33	Jun 30, 2026	−2.9%	2011	$1.93B
59	ctreCareTrust REIT	33	Jun 30, 2026	+3.1%	2019	$8.60B
60	tlysTilly's	33	Jan 31, 2026	0.0%	2016	$128.77M
61	lthLife Time	32	Jun 30, 2026	+3.2%	2021	$10.08B
62	mnroMonro	32	Jun 27, 2026	0.0%	2015	$373.61M
63	spwhSportsman's Warehouse	32	Aug 1, 2026	0.0%	2014	$41.49M
64	ttshTile Shop	31	Dec 31, 2025	0.0%	2016	$82.35M
65	pineAlpine Income Property Trust	31	Jun 30, 2026	−8.8%	2020	$288.80M
66	bjriBJs RESTAURANTS	31	Dec 30, 2025	0.0%	2012	$1.33B
67	catoCato	31	Aug 1, 2026	0.0%	2022	$46.00M
68	ndlsNoodles	30	Jun 30, 2026	−3.2%	2013	$91.59M
69	sgrySurgery Partners	30	Jun 30, 2026	0.0%	2015	$3.04B
70	mptMedical Properties Trust	30	Mar 31, 2026	−3.2%	2020	$1.34B
71	cavaCAVA	29	Jul 12, 2026	+7.4%	2023	$6.86B
72	mlmMartin Marietta Materials	29	Jun 30, 2026	+3.6%	2021	$32.46B
73	nhpNational Healthcare Properties	29	Jun 30, 2026	−3.3%	2015	$1.10B
74	pennPENN Entertainment	28	Dec 31, 2024	+40.0%	2011	$2.13B
75	musaMurphy USA	27	Dec 31, 2025	0.0%	2013	$9.83B
76	cwenClearway Energy	27	Jun 30, 2026	0.0%	2024	$6.57B
77	goodGladstone Commercial	27	Jun 30, 2026	0.0%	2025	$553.30M
78	wldnWilldan	26	Jul 3, 2026	+18.2%	2019	$1.12B
79	csxCSX	26	Jun 30, 2026	0.0%	2011	$96.31B
80	brosDutch Bros	25	Jun 30, 2026	+31.6%	2021	$7.49B
81	patkPatrick Industries	25	Dec 31, 2025	0.0%	2016	$2.49B
82	opyOppenheimer	25	Jun 30, 2026	0.0%	2013	$923.03M
83	sfmSprouts Farmers Market	25	Jun 28, 2026	+4.2%	2017	$4.63B
84	cubeCubeSmart	25	Jun 30, 2026	0.0%	2011	$9.62B
85	innSummit Hotel Properties	24	Jun 30, 2026	−4.0%	2013	$767.91M
86	inreInland Real Estate Income Trust	24	Jun 30, 2026	0.0%	2015	$342.47M
87	amhAmerican Homes 4 Rent	24	Jun 30, 2026	0.0%	2013	$11.37B
88	sgSweetgreen	24	Jun 28, 2026	+9.1%	2022	$1.32B
89	caboCable One	24	Jun 30, 2026	0.0%	2023	$30.98M
90	rljRLJ Lodging Trust	23	Jun 30, 2026	0.0%	2012	$1.92B
91	vmcVulcan Materials	23	Dec 31, 2025	0.0%	2016	$36.44B
92	cblCBL & Associates Properties	23	Jun 30, 2026	+15.0%	2014	$1.56B
93	iticInvestors Title	22	Dec 31, 2025	0.0%	2012	$507.34M
94	bjBJ's Wholesale Club	22	Aug 1, 2026	+4.8%	2018	$13.56B
95	asoAcademy Sports & Outdoors	21	Aug 1, 2026	0.0%	2020	$3.65B
96	rmRegional Management	20	Jun 30, 2026	+5.3%	2019	$334.90M
97	glpiGaming & Leisure Properties	20	Dec 31, 2025	0.0%	2014	$11.34B
98	casyCaseys General Stores	19	Jul 31, 2026	0.0%	2012	$25.14B
99	frFirst Industrial Realty Trust	19	Jun 30, 2026	0.0%	2011	$7.21B
100	uveUniversal Insurance	19	Jun 30, 2026	0.0%	2017	$1.35B
101	sahSonic Automotive	18	Dec 31, 2024	0.0%	2012	$2.00B
102	onewOneWater Marine	18	Jun 30, 2026	−5.3%	2020	$160.66M
103	hvtHaverty Furniture Companies	17	Dec 31, 2025	0.0%	2013	$456.58M
104	ccsCentury Communities	16	Jun 30, 2026	0.0%	2017	$1.50B
105	rsiRush Street Interactive	16	Dec 31, 2025	+6.7%	2022	$2.81B
106	maaMid America Apartment Communities	16	Jun 30, 2026	0.0%	2011	$13.60B
107	wrldWorld Acceptance	16	Jun 30, 2026	0.0%	2013	$766.95M
108	knfKnife River	15	Jun 30, 2026	+7.1%	2023	$3.26B
109	lxpLXP Industrial Trust	14	Jun 30, 2026	−12.5%	2010	$3.61B
110	ppcPilgrims Pride	14	Jun 28, 2026	–	2012	$6.84B
111	frtFederal Realty Investment Trust	14	Dec 31, 2025	+16.7%	2012	$9.57B
112	ctggQwest	14	Mar 31, 2026	0.0%	2012	$13
113	landGladstone Land	14	Jun 30, 2026	−6.7%	2025	$319.64M
114	abgAsbury Automotive	14	Jun 30, 2026	+7.7%	2012	$3.56B
115	bzhBeazer Homes USA	13	Jun 30, 2026	0.0%	2012	$893.23M
116	hovHovnanian Enterprises	13	Jul 31, 2026	0.0%	2025	$592.47M
117	vrnoVerano	13	Jun 30, 2026	0.0%	2022	$344.12M
118	lincLincoln Educational Services	12	Jun 30, 2026	0.0%	2013	$656.00M
119	mthMeritage Homes	12	Jun 30, 2026	0.0%	2012	$4.20B
120	udrUDR	12	Jun 30, 2026	0.0%	2014	$11.41B
121	mcyMercury General	11	Jun 30, 2026	0.0%	2014	$5.67B
122	zionZions Bancorporation, National Association	11	Jun 30, 2026	0.0%	2012	$9.54B
123	ptloPortillo's	11	Jun 28, 2026	+10.0%	2023	$369.84M
124	brtBRT Apartments	11	Jun 30, 2026	0.0%	2015	$243.94M
125	cwstCasella Waste Systems	11	Jun 30, 2026	+10.0%	2023	$5.94B
126	awrAmerican States Water	10	Jun 30, 2026	0.0%	2022	$3.42B
127	vmrkVivmark Residential	10	Jun 30, 2026	0.0%	2011	$23.21B
128	grwgGrowGeneration	9	Jun 30, 2026	−18.2%	2021	$88.38M
129	chdnChurchill Downs	9	Dec 31, 2025	0.0%	2016	$6.61B
130	atoAtmos Energy	8	Jun 30, 2026	0.0%	2013	$29.14B
131	brcbBlack Rock Coffee Bar	7	Jun 30, 2026	–	2025	$520.76M
132	ctoCTO Realty Growth	7	Jun 30, 2026	–	2012	$738.84M
133	fnbFNB	7	Jun 30, 2026	0.0%	2013	$6.38B
134	ardtArdent Health	6	Jun 30, 2026	0.0%	2024	$1.70B
135	srgSeritage Growth Properties	6	Jun 30, 2026	0.0%	2015	$92.37M
136	bhrBraemar Hotels & Resorts	5	Jun 30, 2026	−28.6%	2014	$89.28M
137	cnoCNO Financial	5	Dec 31, 2025	0.0%	2019	$5.34B
138	stlnStarling Oncology	5	Jun 30, 2026	0.0%	2021	$665.51M
139	prxaProcaccianti Hotel REIT	4	Jun 30, 2026	0.0%	2018	–
140	soSouthern	3	Jun 30, 2026	0.0%	2014	$107.80B
141	swxSouthwest Gas	3	Dec 31, 2025	0.0%	2020	$6.74B
142	utgnUTG	3	Jun 30, 2026	0.0%	2016	$181.70M
143	gwrsGlobal Water Resources	1	Sep 30, 2025	–	2024	$222.88M

Companies define these counts in their own way (for example, whether franchised or licensed locations are included); click a company to see its breakdown by segment and region. More rankings on the KPI page.