ill next year’s Top 49ers list fill the top ten slots with billion-dollar companies? The trend is promising. Amy Newman’s article “Billions with a ‘B’” reports that eight companies achieved ten-figure revenues in 2025, up from six the year before. Even adjusting for inflation, eight is the most ever. Adding two more in 2027 is conceivable: Chugach Alaska is within striking distance, and Koniag has been close before.

Three companies are new to this year’s Top 49ers, and eleven have risen in the ranks since 2025. The biggest jump in rank is Cornerstone General Contractors, up thirteen places to #35, beating its previous peak of #38 on the 2014 list. Cornerstone reports the biggest percentage increase in revenue since 2024, but the biggest boost in absolute dollars belongs to NANA Regional Corporation, up by $329 million, or almost an entire Chugach Electric Association’s worth.

NANA has the second-largest payroll among Top 49ers, after ASRC, while Chugach Electric reports the largest all-Alaskan workforce, with 450, followed by Grant Aviation’s 425. Eleven of the Top 49ers report no employees outside of Alaska.

Dividing the total revenue of all Top 49ers by their worldwide workforce yields an average of $304,566 per employee, up from $287,074 a year earlier. Adjusted for inflation, per-worker revenue has been as high as $343,000 in 2011.

Total revenue growth from 2024 to 2025 of 8.8 percent is higher than last year’s 5.34 percent. The biggest surprise (buried, appropriately, here at the bottom) is the rising threshold to enter. Companies needed at least $97 million in 2025 revenue to qualify, up from last year’s $77.9 million minimum. Even adjusting for inflation, no year has ever had a richer company at #49.

This edition of Alaska Trends crunches more data collected from our annual Top 49ers survey.