Company News

Forbes Names TravelCenters of America One of America’s Best Small Companies

Ranking based on earnings and sales growth, return on equity, total stock return
TravelCenters of America
Photograph courtesy of TravelCenters of America

TravelCenters of America (TA) has been ranked No. 86 out of 100 on Forbes magazine's America’s Best Small Companies list for 2023.

  • TravelCenters of America is No. 28 on CSP’s 2022 Top 202 ranking of U.S. convenience-store chains by company-owned store count.

Forbes compiled the ranking of companies based on earnings growth, sales growth, return on equity and total stock return for the latest 12 months available and over the last five years.

In 2022, Westlake, Ohio-based TA signed 30 new franchise agreements and opened three new franchised sites and acquired seven existing travel centers and three standalone truck service facilities. It plans it open 20 franchised locations in 2023.

“The success of TA’s franchise and acquisition programs is a critical component of our strategic plan and over time will add well located facilities to better serve our guests across the country,” said Jon Pertchik, CEO of TA. “I am excited by meeting our 2022 target for growth in franchise sites and excited to see our new franchise partners flag their travel centers with the TA and Petro brands.”

To find the 100 best performers that have continued to grow through the bear market, Forbes used data from FactSet to compile its annual list of America’s Best Small Companies. It screened more than 1,000 companies with a market value between $300 million and $2 billion to find 541 companies that also had positive sales growth over the past 12 months and a share price of at least $5. It excluded financial institutions, real estate investment trusts (REITs), utilities, royalty trusts and limited partnerships, as were companies that have been public for less than one year.

To qualify for the list, a company had to have positive sales growth in the last 12 months, and 97 of the 100 also grew their earnings per share in that span, but the strong income statements weren’t always appetizing to investors. Only half of the stocks have increased in the last year, said the report.

Click here to see the full list.

Westlake, Ohio-based TravelCenters of America, a publicly traded, full-service travel center network, has 280 locations in 44 states and Canada, principally under the TA, Petro Stopping Centers and TA Express brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants (QSRs), travel stores, car and truck parking and other services. The company operates more than 600 full-service and quick-service restaurants (QSRs) and nine proprietary brands, including Iron Skillet and Country Pride.

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