The 24 Largest Texas Non-Oil & Gas Cos Audited Total Pretax Earnings Increased By 26% in Annual 2018, Whereas the 117 Smaller Texas Non-Oil & Gas Cos Comparable Earnings Declined By 2% in Annual 2018

Since Texas is one of the 12 Super Tuesday US States Holding Their 2020 Democratic Presidential Early Primary on March 3, 2020, I Think It Might Be Helpful to Research Just How Texas Non-Oil & Gas Companies Have Performed on the Audited Pretax Earnings Front in the Most Recent Three Years
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On the Other Hand, These Largest Texas Non-Oil & Gas Cos Audited Total Pretax Earnings Increased By 14% in Annual 2016, Whereas These Smaller Texas Non-Oil & Gas Cos Comparable Earnings Increased By 16% in Annual 2016
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From a review of SEC filings, I found 141 Texas Non-Oil & Gas Companies with stock markets caps of above $1 bil sometime since the beginning of 2018 and whose stock was still trading.

Of these 141 Cos, 24 of them have stock market caps above $10 bil currently.  

  

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 (FYEs) 2018, 2017, 2016 and 2015 for each of these 141 Texas Non-Oil & Gas Companies.

			Most
			Recent	Audited	Audited	Audited	Audited		2018 vs	2017 vs	2016 vs
			Annual	Pretax	Pretax	Pretax	Pretax		2017	2016	2015
			Audited	Income	Income	Income	Income		Better	Better	Better
	Texas		Financial	(Loss)	(Loss)	(Loss)	(Loss)		(Worse)	(Worse)	(Worse)
Texas Non-Oil & Gas Companies	City	State	Sts	FYE	FYE	FYE	FYE		%	%	%
Stock Market Caps > $1 Bil	HQs	HQs	FYE	2018	2017	2016	2015		Change	Change	Change
				$ mils	$ mils	$ mils	$ mils
Cos With Market Caps > $10 Bil
AT&T	Dallas	TX	Dec 18	24,873	15,139	19,812	20,692		64%	-24%	-4%
Texas Instruments	Dallas	TX	Dec 18	6,686	6,080	4,930	4,216
LyondellBasell Industries	Houston	TX	Dec 18	5,311	5,493	5,233	6,209
Southwest Air	Dallas	TX	Dec 18	3,164	3,251	3,547	3,479
Waste Management	Houston	TX	Dec 18	2,376	2,191	1,822	1,060
D R Horton	Arlington	TX	Sep 18	2,060	1,602	1,354	1,123
Sysco Corp	Houston	TX	Jun 18	1,956	1,766	1,433	1,008
Kimberly Clark	Irving	TX	Dec 18	1,916	3,095	3,141	1,484
American Air Lines	Fort Worth	TX	Dec 18	1,884	3,395	4,152	4,616
Comerica	Dallas	TX	Dec 18	1,535	1,234	670	750
Celanese	Irving	TX	Dec 18	1,510	1,075	1,030	488
Yum China Holdings	Plano	TX	Dec 18	950	803	666	496
Waste Connections	The Woodlands	TX	Dec 18	707	509	361	(126)
Crown Castle	Houston	TX	Dec 18	690	471	374	474
Atmos Energy	Dallas	TX	Sep 18	611	604	542	495
CoPart	Dallas	TX	July 18	563	440	396	332
Jacobs Engineering Group	Dallas	TX	Sep 18	555	393	287	430
CenterPoint Energy	Houston	TX	Dec 18	514	1,063	686	(1,130)
Match Group	Dallas	TX	Dec 18	488	252	241	199
Lennox Intl	Richardson	TX	Dec 18	468	464	403	283
Invitation Homes	Dallas	TX	Dec 18	(5)	(106)	(78)	(160)
Vistra Energy	Irving	TX	Dec 18	(101)	250	(770)	(5,455)
Alcon Inc	Fort Worth	TX	Dec 18	(300)	(127)	(113)	351
Dell Technologies	Round Rock	TX	Jan 19	(2,361)	(4,769)	(4,494)	(1,286)
Total 23 Largest Cos (No AT&T)				31,177	29,429	25,813	19,336		6%	14%	33%
Total 24 Cos With Market Caps > $10 Bil				56,050	44,568	45,625	40,028		26%	-2%	14%
Cos With Market Caps < $10 Bil
Westlake Chemical	Houston	TX	Dec 18	1,334	1,081	558	963
Alliance Data Systems	Plano	TX	Dec 18	1,224	1,081	837	932
Santander Consumer USA	Dallas	TX	Dec 18	1,192	804	1,161	1,290
Huntsman Corp	The Woodlands	TX	Dec 18	942	647	474	488
Torchmark	McKinney	TX	Dec 18	864	831	772	766
Tenet Healthcare	Dallas	TX	Dec 18	639	(101)	248	144
Nexstar Media Group	Irving	TX	Dec 18	533	241	171	125
Cullen/Frost Bankers	San Antonio	TX	Dec 18	509	408	341	320
Fluor	Irving	TX	Dec 18	482	386	547	727
Quanta Services	Houston	TX	Dec 18	458	354	308	229
Service Corp Intl	Houston	TX	Dec 18	442	400	327	370
Michaels Companies	Irving	TX	Jan 19	417	606	582	572
Six Flags Entertainment	Grand Prairie	TX	Dec 18	412	329	233	263
Prosperity Bancshares	Houston	TX	Dec 18	403	406	409	430
Sabre	Southlake	TX	Dec 18	398	378	328	354
KBR Inc	Houston	TX	Dec 18	398	249	33	312
Texas Capital Bancshares	Dallas	TX	Dec 18	381	326	241	224
Weingarten Realty Investors	Houston	TX	Dec 18	347	351	284	181
Sally Beauty Holdings	Denton	TX	Sep 18	328	346	354	378
Cinemark Holdings	Plano	TX	Dec 18	311	345	361	348
Kronos Worldwide	Dallas	TX	Dec 18	294	306	61	(31)
International Bancshares	Laredo	TX	Dec 18	273	222	197	207
Eagle Materials	Dallas	TX	Mar 18	272	295	219	253
Cirrus Logic	Austin	TX	Mar 18	265	315	176	92
Builders FirstSource	Dallas	TX	Dec 18	261	92	22	(18)
Valhi	Dallas	TX	Dec 18	236	292	40	(42)
Cadence Bancorp	Houston	TX	Dec 18	211	183	98	59
FirstCash	Fort Worth	TX	Dec 18	205	172	93	88
Group 1 Automotive	Houston	TX	Dec 18	205	219	227	182
LGI Homes	The Woodlands	TX	Dec 18	199	171	114	80
Helen of Troy	El Paso	TX	Feb 19	188	155	156	106
Rush Enterprises	New Braunfels	TX	Dec 18	183	136	66	108
Insperity	Kingwood	TX	Dec 18	182	130	105	66
First Financial Bankshares	Abilene	TX	Dec 18	178	147	136	132
Flowserve	Irving	TX	Dec 18	176	263	213	412
National Instruments	Austin	TX	Dec 18	176	147	115	131
LegacyTexas Financial Group	Plano	TX	Dec 18	175	155	151	109
Main Street Capital	Houston	TX	Dec 18	174	195	138	96
Brinker Intl	Dallas	TX	Jun 18	170	209	286	284
Orion Engineered Carbons SA	Houston	TX	Dec 18	168	85	74	64
Commercial Metals	Irving	TX	Aug 18	165	65	76	96
Camden Property Trust	Houston	TX	Dec 18	162	202	457	240
American National Insurance	Galveston	TX	Dec 18	162	403	260	346
Hilltop Holdings	Dallas	TX	Dec 18	161	243	231	283
Independent Bank Group	McKinney	TX	Dec 18	160	122	80	58
Tyler Technologies	Plano	TX	Dec 18	156	163	136	108
HFF	Dallas	TX	Dec 18	154	202	128	142
Trinity Industries	Dallas	TX	Dec 18	152	195	310	881
Diodes Inc	Plano	TX	Dec 18	150	63	25	41
Spirit Realty Capital	Dallas	TX	Dec 18	149	41	30	(32)
Comfort Systems USA	Houston	TX	Dec 18	149	101	101	89
Dave & Busters Entertainment	Dallas	TX	Jan 19	148	156	144	92
National Western Life Group	Austin	TX	Dec 18	142	145	153	147
Entergy Texas	The Woodlands	TX	Dec 18	136	125	171	107
American Campus Communities	Austin	TX	Dec 18	122	71	102	119
TPG Specialty Lending	Fort Worth	TX	Dec 18	119	112	137	64
Darling Ingredients	Irving	TX	Dec 18	118	64	123	99
Kirby	Houston	TX	Dec 18	114	73	228	362
Primoris Services	Dallas	TX	Dec 18	113	105	49	61
El Paso Electric	El Paso	TX	Dec 18	111	149	151	117
Tailored Brands	Houston	TX	Jan 19	103	135	32	(1,196)
Encore Wire	McKinney	TX	Dec 18	102	80	51	72
Conn's	The Woodlands	TX	Jan 19	97	32	(35)	49
MRC Global	Houston	TX	Dec 18	95	7	(91)	(342)
Arcosa	Dallas	TX	Dec 18	95	130	197	219
Alamo Group	Sequin	TX	Dec 18	95	82	62	67
Sunoco LP	Dallas	TX	Dec 18	92	20	(16)	185
Summit Hotel Properties	Austin	TX	Dec 18	90	101	107	126
Southside Bancshares	Tyler	TX	Dec 18	84	70	60	51
NCI Building Systems	Houston	TX	Oct 18	83	83	79	27
InfraREIT	Dallas	TX	Dec 18	81	18	70	21
Kraton	Houston	TX	Dec 18	74	35	13	(6)
Howard Hughes Corp	Dallas	TX	Dec 18	73	121	321	151
Stewart Info Services Group	Houston	TX	Dec 18	73	75	88	10
Silicon Labs	Austin	TX	Dec 18	72	77	64	30
YETI Holdings	Austin	TX	Dec 18	70	32	65	115
Argo Group Intl	San Antonio	TX	Dec 18	68	40	182	178
Triumph Bancorp	Dallas	TX	Dec 18	67	61	34	38
Mr. Cooper Group	Coppell	TX	Dec 18	65	44	29	54
Integer Holdings	Frisco	TX	Dec 18	61	49	28	(16)
US Physical Therapy	Houston	TX	Dec 18	60	34	38	40
HMS Holdings	Irving	TX	Dec 18	53	40	49	40
Blucora Inc	Irving	TX	Dec 18	52	3	(3)	(17)
Veritex Holdings	Dallas	TX	Dec 18	50	28	19	13
At Home Group	Plano	TX	Jan 19	49	66	43	(11)
US Concrete	Euless	TX	Dec 18	48	39	31	(4)
Allegiance Bancshares	Houston	TX	Dec 18	45	26	32	24
Atrion	Allen	TX	Dec 18	42	42	39	41
Exterran	Houston	TX	Dec 18	40	17	(48)	61
RealPage	Richardson	TX	Dec 18	34	15	27	(13)
AZZ Inc	Fort Worth	TX	Feb 18	31	85	102	91
Luminex	Austin	TX	Dec 18	28	37	20	33
Wingstop	Dallas	TX	Dec 18	27	29	22	16
Orthofix Intl NV	Lewisville	TX	Dec 18	23	36	19	9
Fossil Group	Richardson	TX	Dec 18	20	(454)	114	312
Biglari Holdings	San Antonio	TX	Dec 18	17	(13)	146	(37)
Rent-A-Center	Plano	TX	Dec 18	14	(110)	(113)	(1,057)
Cardtronics plc	Houston	TX	Dec 18	14	(155)	115	105
SailPoint Technologies	Austin	TX	Dec 18	5	(5)	(5)	(13)
CyrusOne	Dallas	TX	Dec 18	2	(81)	22	(18)
Tier REIT	Dallas	TX	Dec 18	(4)	85	(29)	(51)
Genesis Energy LP	Houston	TX	Dec 18	(10)	78	114	426
Upland Software	Austin	TX	Dec 18	(21)	(17)	(12)	(13)
Q2 Holdings	Austin	TX	Dec 18	(39)	(26)	(36)	(25)
Abeona Therapeutics	Dallas	TX	Dec 18	(57)	(27)	(22)	(15)
Pros Holdings	Houston	TX	Dec 18	(64)	(78)	(75)	(65)
Reata Pharmaceuticals	Irving	TX	Dec 18	(81)	(48)	(7)	(0)
Lexicon Pharmaceuticals	The Woodlands	TX	Dec 18	(121)	(136)	(131)	(5)
Venator Materials plc	The Woodlands	TX	Dec 18	(165)	186	(108)	(396)
Clear Channel Outdoor Holdings	San Antonio	TX	Dec 18	(170)	(906)	235	(9)
CorePoint Lodging	Irving	TX	Dec 18	(216)	44	1	49
J.C. Penney Co	Plano	TX	Jan 19	(271)	(244)	(16)	(504)
Dean Foods	Dallas	TX	Dec 18	(375)	21	203	(13)
Gamestop	Grapevine	TX	Jan 19	(753)	384	429	586
McDermott	Houston	TX	Dec 18	(2,574)	247	78	65
Total 115 Smaller Cos Reporting Earnings in 2015				16,421	16,691	16,981	14,692				16%
SolarWinds Corp	Austin	TX	Dec 18	(122)	(61)	(484)	N/A
Goosehead Insurance	Westlake	TX	Dec 18	(18)	9	5	N/A
Total 117 Cos With Market Caps < $10 Bil				16,281	16,639	16,502			-2%	1%