From a review of US SEC filings, there were 13 Companies headquartered
in the Richmond, Virginia Area with a stock market cap of more than $1 Bil 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 clearly didn’t even come close to happening
in 2017.
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 and 2015 for these 13 Richmond, Virginia Area Companies.
| FYE | FYE | FYE | FYE | FYE | |||||
| Year | Year | Year | 2017 | 2016 | |||||
| 2017 | 2016 | 2015 | Better | Better | |||||
| Audited | Audited | Audited | (Worse) | (Worse) | |||||
| Pretax | Pretax | Pretax | Than | Than | |||||
| Virginia Companies | City | State | 2017 | Income | Income | Income | 2016 | 2015 | |
| Stock Market Caps Above $1 Bil | HQs | HQs | FYE | (Loss) | (Loss) | (Loss) | % | % | |
| $ mils | $ mils | $ mils | Change | Change | |||||
| Richmond Area Cos | |||||||||
| Altria Group | Richmond | VA | Dec 17 | 9,828 | 21,852 | 8,078 | -55% | 171% | |
| Dominion Energy | Richmond | VA | Dec 17 | 3,090 | 2,867 | 2,828 | 8% | 1% | |
| CarMax | Richmond | VA | Feb 18 | 1,064 | 1,006 | 1,010 | 6% | 0% | |
| Genworth Financial | Richmond | VA | Dec 17 | 729 | 320 | (15) | 128% | -2233% | |
| NewMarket | Richmond | VA | Dec 17 | 315 | 343 | 339 | -8% | 1% | |
| Performance Food Group | Richmond | VA | .Jun 18 | 194 | 158 | 115 | 23% | 37% | |
| Apple Hospitality REIT | Richmond | VA | Dec 17 | 183 | 145 | 118 | 26% | 23% | |
| Universal Corp | Richmond | VA | Mar 18 | 167 | 169 | 173 | -1% | -2% | |
| Dominion Energy Midstream LP | Richmond | VA | Dec 17 | 155 | 236 | 199 | -34% | 19% | |
| Union Bankshares | Richmond | VA | Dec 17 | 106 | 104 | 90 | 2% | 16% | |
| Markel | Glen Allen | VA | Dec 17 | 87 | 630 | 742 | -86% | -15% | |
| Owens & Minor | Mechanicsville | VA | Dec 17 | 57 | 173 | 173 | -67% | 0% | |
| Kinsale Capital Group | Richmond | VA | Dec 17 | 39 | 40 | 34 | -3% | 18% | |
| Total all 13 Richnond Area Cos | 16,014 | 28,043 | 13,884 | -43% | 102% |
