Montana Business by the Numbers: 2026 Company Breakdown

Key findings

• Montana ranks 45th nationally with 205,343 business records — 0.3% of all 64,799,929 U.S. records in the directory.
• Mostly small businesses. Montana is 50th for records of companies with 500+ employees (180), with 8.8 per 10,000 records against 14.0 nationally (48th of 52 states).
• Montana has more construction than the U.S. mix:Construction is 0.6% of the state’s records against 0.4% nationally (1.6×).
• Billings is the state’s largest business hub, with 12.7% of all Montana records.
• Business is concentrated in a few metros: Billings, Missoula and Bozeman together hold 33.2% of the state’s records.

How Montana ranks nationally

Montana and its closest neighbours by total business records. Select a state to open its own study.

Top Montana cities by number of business records

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

Browse all Montana companies →

Montana businesses by industry

Every record is classified by its primary industry using NAICS/SIC codes; the shares are of all Montana records. Select a sector to see those Montana companies.

What sets Montana apart

Sectors that make up a bigger share of Montana’s records than of the U.S. as a whole. A ratio of 2.0× means the sector is twice as common here as nationally. Select a sector to browse it.

Montana businesses by size

Most records in every state are small businesses. In Montana, 1.32% of records with a known size have 51 or more employees, against 1.77% nationally. 39 records belong to companies with $1 billion or more in revenue.

What the numbers show

Montana’s 205,343 records place it 45th nationally, 0.3% of the U.S. total, and 50th for large employers. That large-employer rank is well below its rank by records: its business base is weighted toward small companies. Activity clusters in its largest metros — Billings, Missoula and Bozeman alone account for 33.2% of the state’s records — and the state leans toward construction compared with the rest of the country. For buyers and sellers, that means the deepest pools of suppliers sit in a handful of cities and sectors; the charts above link straight into each so you can shortlist by capability and region.

Methodology

Figures count records in Factur’s U.S. business directory as of July 2026, classified by city and primary industry using NAICS/SIC codes. Records cover manufacturers, suppliers and businesses of all sizes. They are not a count of unique companies: one company can have several records (for example one per department or location), and some records are duplicates. That affects large companies most, so treat raw totals as an upper bound and rely on the ranks, shares and comparisons, which it affects much less. These are directory totals, not official census figures. Percentages are computed against the Montana directory total; size shares use records with a known employee count. Data compiled by Factur, a sales and marketing firm for B2B manufacturers.