From a review of US SEC filings, there were 9 Companies headquartered
in Memphis, Tennessee with a stock market cap of more than $500 mil recently.
Nearly all Republicans, a high percentage of
Independents and even many perceptive Democrats all agree as a starting point
that for US capitalism to work properly, Companies must generate in the
aggregate reasonably healthy profits. This just didn't happen in 2017 for
Memphis Cos.
My focus is on Pretax Income rather than on After-Tax Net Income
because Income Taxes are simply a transfer of financial wealth between US
Corporations and the US Federal, US State and Foreign Governments. It has
nothing whatsoever to do with Company Operating Performance.
From a review of SEC filings, the chart below shows the Audited
Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the
Fiscal Years Ended 2017, 2016, 2015 and 2014 for these 9 Memphis Cos.
| FYE | FYE | FYE | |||||||||
| FYE | FYE | FYE | FYE | 2017 | 2016 | 2015 | |||||
| Year | Year | Year | Year | Better | Better | Better | |||||
| 2017 | 2016 | 2015 | 2014 | (Worse) | (Worse) | (Worse) | |||||
| Audited | Audited | Audited | Audited | Than | Than | Than | |||||
| Pretax | Pretax | Pretax | Pretax | 2016 | 2015 | 2014 | |||||
| Tennessee Companies | City | State | 2017 | Income | Income | Income | Income | % | % | % | |
| Stock Market Caps Above $500 Mil | HQs | HQs | FYE | (Loss) | (Loss) | (Loss) | (Loss) | Change | Change | Change | |
| $ mils | $ mils | $ mils | $ mils | ||||||||
| Memphis Area Cos | |||||||||||
| FedEx | Memphis | TN | May 18 | 4,353 | 4,579 | 2,740 | 1,627 | -5% | 67% | 68% | |
| AutoZone | Memphis | TN | Aug 17 | 1,925 | 1,913 | 1,803 | 1,663 | 1% | 6% | 8% | |
| International Paper | Memphis | TN | Dec 17 | 1,025 | 993 | 1,249 | 534 | 3% | -20% | 134% | |
| ServiceMaster Global | Memphis | TN | Dec 17 | 370 | 240 | 270 | 84 | 54% | -11% | 221% | |
| Mid America Apartment Comm | Germantown | TN | Dec 17 | 343 | 226 | 352 | 153 | 52% | -36% | 130% | |
| First Horizon National | Memphis | TN | Dec 17 | 309 | 345 | 108 | 318 | -10% | 219% | -66% | |
| Mueller Industries | Memphis | TN | Dec 17 | 125 | 148 | 132 | 148 | -16% | 12% | -11% | |
| Education Realty Trust | Memphis | TN | Dec 17 | 46 | 45 | 20 | 48 | 2% | 125% | -58% | |
| Wright Medical Group NV | Memphis | TN | Dec 17 | (100) | (178) | (241) | (247) | 44% | 26% | 2% | |
| Total all 9 Memphis Cos | 8,396 | 8,311 | 6,433 | 4,328 | 1% | 29% | 49% |
