Annual Sales $4.4 billion

Rank 1st (Revenue between $1-5 billion)

Average Five-Year Score Improvement 13th (up 5%)

The model for how aerospace companies should be run, this avionics supplier has achieved continuous improvement year after year. Focused and innovative, the company has consistently grown earnings faster than revenue, in part by developing specialized products that yield high profit margins. It has avoided pricey acquisitions and made sizable stock repurchases that bolstered enterprise value. The reason Rockwell Collins doesn't rank higher in five-year improvement is that it can't climb much farther.