In one of these earlier posts, I found that these 98 Largest Virginia Corps filing with the SEC had Audited under US Generally Accepted Accounting Principles (US GAAP) Total After-tax Net Income of $10.5 bil in the most recent fiscal year 2011, which was a profit improvement of a massive $57.1 bil as compared with the $46.6 bil of After-tax Net Loss generated by these same 98 Virginia companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.
Virginia Corp 2011 Earnings
Included in the above total earnings and loss numbers are those related to Freddie Mac. If Freddie Mac is excluded, the remaining 97 Largest Virginia Corps generated a Total After-tax Net Income of $15.7 bil in the most recent fiscal year 2011, up $12.2 bil, or 351% above the comparable Net Income amount of $3.5 bil earned by these same 97 Virginia companies three years earlier in 2008.
Since corporate earnings drive stock prices, in one of these earlier posts on Virginia Largest Corps, I addressed just how well the stock market prices of these Virginia Corps have performed since President Obama took office.
Of these 98 Virginia Corps, 80 of them had their common stock trading on both January 16, 2009, which is the last day stocks traded before President Obama took office, and on October 10, 2012.
These 80 Virginia Corps had an average stock market price increase of a very robust 97% since President Obama took office on January 20, 2009. This is far better than the increase in both the S&P 500 Index, which increased by 69%, and the Dow Industrials Index, which increased by 61%, both during the identical time span.
Virginia 80 Largest Corps Stock Prices Up An Average 97% Since President Obama Took Office
So that's fantastic, but what about the even smaller Virginia Publicly-held Companies.....that is, one's with Ongoing, Core Pretax Income or Loss below $10 mil in each of the most recent three fiscal years?
I did a quick review of SEC filings, and there aren't a whole lot of these smallest Virginia Corps, which had their common stock trading both presently and on January 16, 2009. I did find some with a smaller stock market price increase, but I found eight of these smallest Virginia Public Companies which experienced very robust stock market appreciation during the Obama Administration.
These 8 Virginia Smallest Public Companies had an average stock market price increase of 131% during the Obama Administration. It should be pointed out that mathematically the highest stock market increases should be much higher for the Largest Corps, since these largest companies have unlimited earnings growth potential, whereas the smallest companies have to have their earnings within a range of plus or minus $10 mil.
Below here are the common stock market closing prices of each of these 8 Virginia Smallest Companies on the most recent October 26, 2012 date, and also at the date just before President Obama took office, as well as the percentage stock market price changes for this period of time.
|Virginia Smallest Public Companies|
|Global Telecom & Technology||McLean||$2.69||$0.48||460%|
|Average Increase: all 8 Virginia Smallest Public Companies||131%|
So, it's not just the largest Virginia Corps which experienced very strong stock market price appreciation during the Obama Administration. There were also some of the very smallest Virginia Corps which did likewise.
And clearly, this was driven by substantially improved earnings performance during the Obama Administration. In fact, these 8 Smallest Virginia Public Companies generated Total Pretax Income of $11.3 mil in the most recent 2011 fiscal year, which was a $64.7 mil profit improvement as compared with the Total Pretax Loss of $53.4 for 2008, the last year of the Bush/Cheney Administration.
Below here are the Audited Pretax Income or Loss for each of the most recent four fiscal years for each of these 8 Virginia Smallest Public Companies with the very robust stock market appreciation.
Next, I'm very interested in finding out how Ohio's Smallest Public Companies come out on this same issue. I have a hunch that there are even more of them with very robust stock market growth than those in Virginia, particularly since there are so many excellent Ohio manufacturing companies, helped by the Auto Rescue or by the Obama Economic Stimulus, or by both, whose earnings have been on fire during the Obama Administration, and this should also have a nice spillover effect on companies in Ohio's other industries.