Montana Business by the Numbers: 2026 Company Breakdown

Key findings

• Montana ranks 45th nationally with 205,343 companies — 0.3% of all 64,799,929 U.S. companies in the directory.
• Billings is the state’s largest business hub, with 26,143 companies — 12.7% of every company in Montana.
• Business is concentrated in a few metros: Billings, Missoula and Bozeman together hold 33.2% of the state’s companies.
• Industrial & mechanical leads the state’s industries at 53,337 companies (26.0%), across 5 tracked sectors.

How Montana ranks nationally

Montana and its closest neighbours by total company count. Select a state to open its own study.

Top Montana cities by number of companies

These 5 cities account for 46.6% of all companies in Montana. Select any city to browse its full company list.

Browse all Montana companies →

Montana companies by industry

Every company is classified by its primary industry using NAICS/SIC codes. Select a sector to see those Montana companies.

What the numbers show

Montana’s 205,343 companies place it 45th nationally, 0.3% of the U.S. total. Activity clusters in its largest metros — Billings, Missoula and Bozeman alone account for 33.2% of the state’s companies — while industrial & mechanical is the dominant sector at 26.0%. For buyers and sellers, that means the deepest pools of suppliers and manufacturers sit in a handful of cities and one or two sectors; the charts above link straight into each so you can shortlist by capability and region.

Methodology

Figures reflect companies listed in Factur’s U.S. business directory as of 2026, classified by headquarters city and primary industry using NAICS/SIC codes. “Companies” includes manufacturers, suppliers, and B2B businesses of all sizes; counts are directory totals, not official census figures, and percentages are computed against the Montana directory total. Data compiled by Factur, a sales and marketing firm for B2B manufacturers.