(photo courtesy of Patrick Industries)

Three Indiana-based businesses are included in Forbes’ 2022 list of “America’s Best Small Companies.” The publication ranked the top 100 companies based on factors, including earnings growth, sales growth and return on equity.

Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) is the highest-ranked Indiana company at No. 18. Evansville-based Shoe Carnival Inc. (Nasdaq: SCVL) is ranked No. 38, followed by Jasper-based Kimball Electronics Inc. (Nasdaq: KE) at No. 48.

Forbes says it used data from FactSheet to compile the list and screened more than 1,000 companies with a market value between $300 million and $2 billion. The types of companies excluded from the list include financial institutions, REITs, utilities, limited partnerships, and companies that have been public for less than a year.

Arizona-based Joint Corp. tops the 2022 list, followed by A-Mark Precious Metals in California, Texas-based San Juan Basin Royalty Trust, Aviat Networks in Texas, and Retractable Technologies, also based in Texas.

You can view the full list and methodology by clicking here.

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