Wednesday, October 10, 2018

Washington State Has the Second Highest (Amazon) and the Third Highest (Microsoft) Stock Market Caps in the World, But Also Their Next 32 Largest Companies in Many Different Industries Had Their Total Pretax Income in 2017 Grow By an Incredible 33% Above That in 2016 ......................................................................................

From a review of US SEC filings, there were 34 Companies headquartered in the State of Washington with stock market caps of more than $1 Bil recently.

These exceptional 34 Washington Cos posted Audited Gold-Standard US GAAP Total Pretax Income From Continuing Operations in Fiscal Year Ended (FYE) 2017 of $69.744 Bil, an Increase of 25% Above That in FYE 2016 of $55.805 Bil.  

And when the Two Gold-Plated Giants Amazon and Microsoft are excluded, the other 32 Washington Companies performed even better on the earnings front, posting Audited Gold-Standard US GAAP Total Pretax Income From Continuing Operations in Fiscal Year Ended (FYE) 2017 of $29.468 Bil, an incredible increase of 33% above that in FYE 2016 of $22.108 Bil.

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.  And did this ever happen with the State of Washington's Companies 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 Years Ended 2017 and 2016 for these 34 Washington State Companies.
Year Year
2017 2016
Audited Audited
Pretax Pretax
Income Income
(Loss) (Loss)
  From From
Washington State Companies City State 2017 Continuing Continuing Better
Stock Market Caps Above $1 Bil HQs HQs FYE Operations Operations (Worse)
 $ mils  $ mils %
The Two Tech Software & Services Giants
Microsoft (World's 3rd Highest Stock Market Cap) Redmond WA Jun 18            36,474            29,901 22%
Amazon (World's 2nd Highest Stock Market Cap) Seattle WA Dec 17              3,802              3,796 0%
All Other Washington State Companies
Boeing Seattle WA Dec 17            10,047              5,568 80%
Starbucks Seattle WA Sep 17              4,318              4,199 3%
Costco Issaquah WA Aug 17              4,039              3,619 12%
T-Mobile US Bellevue WA Dec 17              3,161              2,327 36%
Paccar Bellevue WA Dec 17              2,173              1,130 92%
Fortive Corp Everett WA Dec 17              1,284              1,197 7%
Alaska Air Group Seattle WA Dec 17              1,207              1,345 -10%
Nordstrom Seattle WA Jan 18                 790                 684 15%
Expeditors Intl Washington Seattle WA Dec 17                 719                 687 5%
Weyerhaeuser Seattle WA Dec 17                 716                 504 42%
F5 Networks Seattle WA Sep 17                 576                 550 5%
Expedia Bellevue WA Dec 17                 417                 277 51%
Washington Federal Seattle WA Sep 17                 256                 248 3%
Avista Spokane WA Dec 17                 198                 215 -8%
Columbia Banking System Tacoma WA Dec 17                 178                 150 19%
Esterline Technologies Bellevue WA Sep 17                 153                 136 13%
Banner Corp Walla Walla WA Dec 17                 151                 130 16%
Itron Liberty Lake WA Dec 17                 135                   85 59%
Potlatch Deltic Spokane WA Dec 17                 118                     7 1586%
Mercer Intl Seattle WA Dec 17                 104                   59 76%
TrueBlue Tacoma WA Dec 17                   78                 (20) NM
Heritage Financial Olympia WA Dec 17                   60                   53 13%
Trupanion Seattle WA Dec 17                   (2)                   (7) NM
Redfin Seattle WA Dec 17                 (15)                 (23) NM
Apptio Bellevue WA Dec 17                 (25)                 (31) NM
Smartsheet Bellevue WA Jan 18                 (49)                 (15) NM
Avalara Seattle WA Dec 17                 (65)                 (57) NM
Seattle Genetics Bothell WA Dec 17               (159)               (140) NM
Tableau Software Seattle WA Dec 17               (179)               (137) NM
Zillow Group Seattle WA Dec 17               (184)               (220) NM
Alder Biopharmaceuticals Bothell WA Dec 17               (289)               (156) NM
Juno Therapeutics Seattle WA Dec 17               (443)               (256) NM
Total all 32 Cos Excluding Microsoft and Amazon            29,468            22,108 33%
Total all 34 Washington State Companies            69,744            55,805 25%