UnitedHealth, the troubled $400 billion giant, tops our list of Minnesota’s largest public companies

In 2024 the 50 largest public companies in Minnesota saw their total revenue grow a collective 3.4% and profits by 11%.

But new tariff proposals, policy changes and sinking consumer confidence threaten growth. Companies here and elsewhere have withdrawn guidance for 2025 results while waiting for more clarity on major issues over trade and regulation.

Some companies have business models that are relatively isolated from proposed tariffs while others have already started mitigation efforts including: installing tariff surcharges; preordering inventory before tariffs go into effect; altering supply chains; and shifting where some products are made or finished.