Tuesday, May 7, 2019

237 Largest San Fran/Silicon Valley, CA Area Cos Posted Huge Variability in Their Two-Year (2016 to 2018) Audited Total Pretax Earnings Changes: Big Oil Chevron Up 1053%, 110 Tech Cos Up 44% and All 126 Other Cos Down 35%


Democratic Presidential Candidate Pete Buttigieg Will Be Making Six Campaign Stops in the San Francisco Bay Area on this Friday May 10, 2019.  California is one of the 12 Super Tuesday US States Holding Their 2020 Democratic Presidential Early Primary on March 3, 2020.  Thus, I Think It Might Be Helpful to Research Just How San Francisco/Silicon Valley Companies Have Performed on the Audited Pretax Earnings Front in the Most Recent Two Years
......................................................................
Breaking down the key 110 Technology Cos, which comprised a massive 78% of the Audited Total Pretax Income in 2018 of all 237 San Fran/Silicon Valley Area Cos:

  • The 64 Software and Services Cos posted Fiscal Year Ended (FYE) 2018 Audited Total Pretax Earnings which were up by $36.2 Bil or up by 57% from that in 2016
  • The 25 Semiconductor Cos posted FYE 2018 Audited Total Pretax Earnings which were up by $22.1 Bil or up by 141% from that in 2016.  However, it should be pointed out that these Semiconductor Cos also experienced massive earnings growth deceleration from up 94% in 2017 to up 24% in 2018
  • Apple posted FYE September 2018 Audited Pretax Earnings which were up by $11.5 Bil or up by 19% from that in 2016.  However, it should be pointed out that Apple's Pretax Earnings declined in both the December 2018 and the March 2019 quarters
  • The 20 Other Technology Manufacturing Cos posted FYE 2018 Audited Total Pretax Earnings which were up by $3.0 Bil or up by 13% from that in 2016
......................................................................
From a review of SEC filings, MSN Money and Market Watch Big Charts, I found 237 San Francisco/Silicon Valley Area Companies with stock markets caps of above $1 bil sometime since the beginning of 2018.

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 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 and 2016 for each of these 237 San Francisco/Silicon Valley Area Companies.


Most 2 Year
Recent Audited Audited Audited 2018 vs 2017 vs 2018 vs
Annual Pretax Pretax Pretax 2017 2016 2016
Audited Income Income Income Better Better Better
California Financial (Loss) (Loss) (Loss) (Worse) (Worse) (Worse)
San Francisco/Silicon Valley, CA Area Cos City State Sts FYE FYE FYE % % %
Stock Market Caps > $1 Bil HQs HQs FYE 2018 2017 2016 Change Change Change
 $ mils  $ mils  $ mils
Big Oil
….. Chevron
San Ramon CA Dec 18     20,575       9,221     (2,160) 123% 527% 1053%
Technology Companies
….. Software and Services 
Alphabet Mountain View CA Dec 18     34,913     27,193     24,150 28% 13% 45%
Facebook Menlo Park CA Dec 18     25,361     20,594     12,518 23% 65% 103%
Oracle Redwood City CA May 18     12,891     11,517     11,442 12% 1% 13%
Visa San Francisco CA Sep 18     12,806     11,694       8,012 10% 46% 60%
VMware Palo Alto CA Jan 19       2,883       1,814       1,503 59% 21% 92%
Adobe San Jose CA Nov 18       2,794       2,138       1,435 31% 49% 95%
eBay Inc San Jose CA Dec 18       2,718       2,275       3,651 19% -38% -26%
PayPal Holdings San Jose CA Dec 18       2,376       2,200       1,631 8% 35% 46%
Intuit Mountain View CA July 18       1,503       1,367       1,203 10% 14% 25%
Electronic Arts Redwood City CA Mar 18       1,449       1,210          877 20% 38% 65%
Netflix Los Gatos CA Dec 18       1,226          485          261 153% 86% 370%
Salesforce.com San Francisco CA Jan 19          983          420          179 134% 135% 449%
Check Point Software San Carlos CA Dec 18          979          971          897 1% 8% 9%
Symantec Mountain View CA Mar 18          437        (262)          392
Twitter San Francisco CA Dec 18          424          (95)        (441) 546% -78% 196%
Cadence Design Systems San Jose CA Dec 18          376          315          237
Synopsys Mountain View CA Oct 18          363          383          330
Veeva Systems Pleasanton CA Jan 19          239          166          122
Fair Isaac Corp San Jose CA Sep 18          188          151          145
Qualys Inc Foster City CA Dec 18            55            39            30
Stitch Fix San Francisco CA July 18            55            13            61
Yelp Inc San Francisco CA Dec 18            40          184            (0)
Zynga Inc San Francisco CA Dec 18            26            38        (105)
Ellie Mae Inc Pleasanton CA Dec 18            15            45            57
Zoom Video Communications San Jose CA Jan 19              8            (4)              0
LiveRamp Holdings San Francisco CA Mar 18              1              9          (20)
Five9 San Ramon CA Dec 18              0            (9)          (12)
Guideware Software Foster City CA July 18              0            33            21
Roku Saratoga CA Dec 18            (9)          (63)          (43)
Chegg Inc Santa Clara CA Dec 18          (13)          (18)          (41)
Glu Mobile San Francisco CA Dec 18          (13)          (98)          (88)
Upwork Mountain View CA Dec 18          (20)            (4)          (16)
RingCentral Inc Belmont CA Dec 18          (26)            (4)          (16)
Quotient Technology Inc Mountain View CA Dec 18          (28)          (16)          (19)
Zscaler San Jose CA July 18          (32)          (35)          (27)
Square San Francisco CA Dec 18          (36)          (63)        (170)
8X8 Inc San Jose CA Mar 18          (38)            (5)            (6)
ServiceNow Santa Clara CA Dec 18          (39)        (113)        (410)
PagerDuty San Francisco CA Jan 19          (40)          (38)  N/A 
Talend SA Redwood City CA Dec 18          (41)          (31)          (24)
Autodesk San Rafael CA Jan 19          (43)        (557)        (524)
New Relic San Francisco CA Mar 18          (44)          (61)          (67)
Elastic NV Mountain View CA Apr 18          (49)          (48)  N/A 
Coupa Software San Mateo CA Jan 19          (56)          (42)          (37)
Eventbrite San Francisco CA Dec 18          (63)          (39)          (40)
Pinterest San Francisco CA Dec 18          (63)        (130)        (182)
Atlassian Corporation PLC San Francisco CA Jun 18          (66)          (60)            (5)
Zuora San Mateo CA Jan 19          (76)          (46)          (39)
Proofpoint Sunnyvale CA Dec 18        (117)          (80)          (96)
Twilio San Francisco CA Dec 18        (121)          (63)          (41)
Okta San Francisco CA Jan 19        (126)        (110)          (75)
LendingClub Corp San Francisco CA Dec 18        (128)        (153)        (150)
Anaplan San Francisco CA Dec 18        (128)          (46)          (40)
Box Inc Redwood City CA Jan 19        (133)        (154)        (151)
Pivotal Software Palo Alto CA Jan 19        (141)        (166)        (230)
Zendesk San Francisco CA Dec 18        (143)        (104)          (97)
SVMK (Survey Monkey) San Mateo CA Dec 18        (155)          (40)          (72)
Cloudera Palo Alto CA Jan 19        (187)        (368)        (156)
Splunk San Francisco CA Jan 19        (263)        (189)        (342)
Nutanix San Jose CA July 18        (289)        (375)        (106)
Workday Pleasanton CA Jan 19        (424)        (315)        (386)
DocuSign San Francisco CA Dec 18        (428)          (49)        (115)
Dropbox San Francisco CA Dec 18        (480)        (112)        (205)
Lyft San Francisco CA Dec 18        (911)        (688)        (682)
Total all 64 Software and Services Cos   100,140     80,401     63,878 25% 26% 57%
..... Apple
Cupertino CA Sep 18     72,903     64,089     61,372 14% 4% 19%
….. Semiconductors
Intel Santa Clara CA Dec 18     23,317     20,352     12,936 15% 57% 80%
Applied Materials Santa Clara CA Oct 18       4,694       3,731       2,013 26% 85% 133%
Broadcom Inc San Jose CA Oct 18       4,545       1,825     (1,107) 149% 265% 511%
NVIDIA Corp Santa Clara CA Jan 19       3,896       3,196       1,905 22% 68% 105%
Maxim Integrated Products San Jose CA Jun 18          825          680          285
Xilinx San Jose CA Mar 18          750          691          637
Advanced Micro Devices Sunnyvale CA Dec 18          328          (15)        (459)
SMART Global Holdings Newark CA Aug 18          138              2          (18)
Monolithic Power Systems San Jose CA Dec 18          118            83            57
Mellanox Technologies Ltd Sunnyvale CA Dec 18          112          (22)            24
Integrated Device Technology San Jose CA Mar 18            92            99          134
Power Integrations Inc San Jose CA Dec 18            60            60            50
Ultra Clean Holdings Hayward CA Dec 18            52            87            19
Cypress Semiconductor San Jose CA Dec 18            39          (70)        (681)
FormFactor Livermore CA Dec 18            34            42          (50)
Xperi San Jose CA Dec 18              7          (58)            91
Ceva Mountain View CA Dec 18              1            19            16
Marvell Technology Group Santa Clara CA Jan 19            (5)          451          147
Finisar Corp Sunnyvale CA Apr 18          (15)          163            35
Viavi Solutions Inc Milpitas CA Jun 18          (33)          187          (46)
Ambarella Santa Clara CA Jan 19          (35)            26            61
Rambus Inc Sunnyvale CA Dec 18          (71)            41            23
Synaptics Inc San Jose CA Jun 18          (84)            61            76
Inphi Corp Sunnyvale CA Dec 18        (104)          (96)            11
SunPower San Jose CA Dec 18        (916)     (1,175)        (514)
Total all 25 Semiconductor Cos     37,745     30,360     15,645 24% 94% 141%
….. Other Technology Manufacturing Cos
Cisco Systems San Jose CA Jul 18     13,039     12,287     12,920 6% -5% 1%
Lam Research Fremont CA Jun 18       3,152       1,812          960 74% 89% 228%
HP Inc Palo Alto CA Oct 18       3,013       3,276       3,761 -8% -13% -20%
Western Digital San Jose CA Jun 18       2,085          769          153 171% 403% 1263%
KLA-Tencor Milpitas CA Jun 18       1,456       1,173          858 24% 37% 70%
Seagate Technology Cupertino CA Jun 18       1,418          815          274 74% 197% 418%
NetApp Sunnyvale CA Apr 18       1,166          665          345 75% 93% 238%
Juniper Networks Sunnyvale CA Dec 18          532          812          827
Coherent inc Santa Clara CA Sep 18          362          302          123
Arista Networks Inc Santa Clara CA Dec 18          289          475          242
Hewlett Packard Enterprise Palo Alto CA Oct 18          268          272       3,860
Fortinet Sunnyvale CA Dec 18          251          124            43
Logitech Intl SA Newark CA Mar 18          232          215          131
Omnicell Inc Mountain View CA Dec 18            36              5            13
Electronics For Imaging Fremont CA Dec 18              1            12            39
ForeScout Technologies San Jose CA Dec 18          (72)          (79)          (64)
Palo Alto Networks Santa Clara CA July 18        (130)        (194)        (172)
Pure Storage Mountain View CA Jan 19        (177)        (156)        (220)
Fitbit San Francisco CA Dec 18        (184)        (195)        (109)
FireEye  Milpitas CA Dec 18        (238)        (281)        (494)
Total all 20 Other Technology Manufacturing Cos     26,499     22,109     23,490 20% -6% 13%
Total all 110 Technology Companies   237,287   196,959   164,385 20% 20% 44%
All Cos But Technology and Big Oil
Wells Fargo San Francisco CA Dec 18     28,538     27,377     32,120 4% -15% -11%
Gilead Sciences Foster City CA Dec 18       7,799     13,529     17,097 -42% -21% -54%
Charles Schwab San Francisco CA Dec 18       4,562       3,650       2,993 25% 22% 52%
Franklin Resources San Mateo CA Sep 18       2,215       2,549       2,500 -13% 2% -11%
Ross Stores Dublin CA Jan 19       2,051       2,041       1,786 0% 14% 15%
Prologis San Francisco CA Dec 18       1,886       1,816       1,347 4% 35% 40%
SVB Financial Group Santa Clara CA Dec 18       1,363          875          641 56% 37% 113%
The Gap San Francisco CA Jan 19       1,322       1,424       1,124 -7% 27% 18%
Intuitive Surgical Sunnyvale CA Dec 18       1,280       1,105          985 16% 12% 30%
Clorox Oakland CA Jun 18       1,054       1,033          983 2% 5% 7%
First Republic Bank San Francisco CA Dec 18       1,052          912          828 15% 10% 27%
Agilent Technologies Santa Clara CA Oct 18          946          803          544
Nektar Therapeutics San Francisco CA Dec 18          683          (96)        (153)
Robert Half Intl Menlo Park CA Dec 18          592          518          554
Jazz Pharmaceuticals plc Palo Alto CA Dec 18          527          440          532
Flex Ltd San Jose CA Mar 18          521          371          455
Bio-Rad Laboratories Hercules CA Dec 18          513            98            42
Levi Strauss San Francisco CA Nov 18          500          349          407
Align Technology San Jose CA Dec 18          458          362          241
SYNNEX Corp Fremont CA Nov 18          457          465          356
Varian Medical Systems Palo Alto CA Sep 18          452          303          432
Exelixis Inc Alameda CA Dec 18          452          159          (70)
Equinix Redwood City CA Dec 18          433          287          160
Williams-Sonoma San Francisco CA Jan 19          429          452          472
Essex Property Trust San Mateo CA Dec 18          414          458          442
Digital Realty Trust San Francisco CA Dec 18          343          264          442
Cooper Companies Pleasanton CA Oct 18          332          394          296
Dolby Laboratories San Francisco CA Sep 18          313          257          236
Trimble Sunnyvale CA Dec 18          278          248          176
TriNet Group Inc San Leandro CA Dec 18          241          200          104
McKesson San Francisco CA Mar 18          239       6,891       3,250
Innoviva Brisbane CA Dec 18          210          134            60
RH Corte Madera CA Jan 19          181            30              9
Simpson Manufacturing Pleasanton CA Dec 18          172          144          139
NMI Holdings Emeryville CA Dec 18          136            53            11
Redwood Trust Inc Mill Valley CA Dec 18          131          152          135
Lumentum Holdings Milpitas CA Jun 18          129          (60)            10
Central Garden & Pet Co Walnut Creek CA Sep 18          127          126            70
TPG Real Estate Finance Trust San Francisco CA Dec 18          107            94            70
McGrath Rent Livermore CA Dec 18          104            83            67
Plantronics Santa Cruz CA Mar 18          100          102            82
Sanmina Corp San Jose CA Sep 18            98          213          205
Exponent Inc Menlo Park CA Dec 18            93            83            69
Corcept Therapeutics Inc Menlo Park CA Dec 18            92            53              8
Westamerica Bancorporation San Rafael CA Dec 18            91            87            80
Fox Factory Holding Corp Scotts Valley CA Dec 18            91            64            43
Four Corners Property Trust Mill Valley CA Dec 18            83            72            77
California Water Service Group San Jose CA Dec 18            81          110            75
Hercules Capital Palo Alto CA Dec 18            76            79            69
Nanometrics Milpitas CA Dec 18            68            43            29
Granite Construction Watsonville CA Dec 18            64          104            96
Terreno Realty Corp San Francisco CA Dec 18            63            53            15
Shutterfly Inc Redwood City CA Dec 18            60            35            27
Core-Mark Holding Co Inc South San Fran CA Dec 18            60            28            86
Textainer Group Holdings Ltd San Francisco CA Dec 18            56            22          (61)
SJW Group San Jose CA Dec 18            49            96            86
NetGear San Jose CA Dec 18            43            46          106
Genomic Health Inc Redwood City CA Dec 18            27            (2)          (13)
WageWorks San Mateo CA Dec 18            25            38            30
e.l.f. Beauty Oakland CA Dec 18            18            22            10
eHealth Santa Clara CA Dec 18              3            (8)              4
NGM Biopharmaceuticals South San Francisco CA Dec 18            (0)          (15)            (6)
Penumbra Alameda CA Dec 18            (1)              1            (1)
Myovant Sciences Ltd Brisbane CA Mar 18            (2)        (143)          (84)
Vocera Communications San Jose CA Dec 18          (10)          (10)          (11)
Codexis Redwood City CA Dec 18          (11)          (23)            (9)
Intersect ENT Menlo Park CA Dec 18          (23)          (16)          (25)
Veracyte South San Francisco CA Dec 18          (23)          (31)          (31)
Geron Menlo Park CA Dec 18          (27)          (28)          (30)
Natus Medical Inc Pleasanton CA Dec 18          (32)              5            55
Denali Therapeutics South San Francisco CA Dec 18          (36)          (88)          (87)
Pattern Energy Group San Francisco CA Dec 18          (37)          (70)          (43)
Silk Road Medical Sunnyvale CA Dec 18          (38)          (19)  N/A 
ShockWave Medical Freemont CA Dec 18          (41)          (31)  N/A 
Eidos Therapeutics San Francisco CA Dec 18          (41)          (12)            (3)
Allakos San Carlos CA Dec 18          (44)          (24)          (17)
Extreme Networks San Jose CA Dec 18          (47)              3          (32)
iRhythm Technologies San Francisco CA Dec 18          (48)          (29)          (21)
Nevro Corp Redwood City CA Dec 18          (48)          (35)          (30)
CareDX Brisbane CA Dec 18          (48)          (57)          (41)
Alector South San Francisco CA Dec 18          (52)          (32)          (15)
Cerus Concord CA Dec 18          (57)          (57)          (63)
Fluidigm South San Francisco CA Dec 18          (61)          (64)          (80)
Gritstone Oncology Emeryville CA Dec 18          (65)          (41)          (19)
MyoKardia South San Francisco CA Dec 18          (68)          (57)          (10)
Sangamo Therapeutics Richmond CA Dec 18          (69)          (55)          (72)
CytomX Therapeutics South San Francisco CA Dec 18          (70)          (44)          (59)
CynaBay Therapeutics Newark CA Dec 18          (73)          (28)          (27)
Arlo Technologies San Jose CA Dec 18          (75)              8          (14)
Unity Biotechnology Brisbane CA Dec 18          (76)          (45)          (30)
Guardant Health Redwood City CA Dec 18          (84)          (83)          (46)
FibroGen San Francisco CA Dec 18          (86)        (121)          (58)
Tricida South San Fran CA Dec 18        (103)          (41)          (29)
Pacific Biosciences of California Menlo Park CA Dec 18        (103)          (92)          (74)
GoPro San Mateo CA Dec 18        (108)        (176)        (375)
Iovance Biotherapeutics San Carlos CA Dec 18        (124)          (92)          (53)
Zogenix Emeryville CA Dec 18        (124)        (126)          (70)
Natera San Carlos CA Dec 18        (128)        (137)        (100)
Audentes Therapeutics San Francisco CA Dec 18        (129)          (92)          (60)
Invitae Corp San Francisco CA Dec 18        (132)        (125)        (100)
Revance Therapeutics Newark CA Dec 18        (140)        (121)          (89)
Biomarin Pharmaceutical Novato CA Dec 18        (143)          (36)        (831)
Prothena South San Francisco CA Dec 18        (156)        (158)        (159)
Dynavax Technologies Berkeley CA Dec 18        (159)          (95)        (112)
Global Blood Therapeutics South San Francisco CA Dec 18        (174)        (117)          (82)
Heron Therapeutics San Francisco CA Dec 18        (179)        (197)        (173)
iShares S&P GSCI Commodity-Indexed Trust San Francisco CA Dec 18        (190)            80            84
Ultragenyx Pharmaceuticals Novato CA Dec 18        (197)        (318)        (246)
iShares Gold Trust San Francisco CA Dec 18        (198)          882          309
Coherus Biosciences Redwood City CA Dec 18        (209)        (238)        (128)
Aimmune Therapeutics Brisbane CA Dec 18        (211)        (131)          (81)
Allogene Therapeutics South San Francisco CA Dec 18        (212)            (0)  N/A 
Infinera Corp Sunnyvale CA Dec 18        (215)        (196)          (29)
Dermira Menlo Park CA Dec 18        (222)        (303)          (89)
Theravance Biopharma Inc South San Francisco CA Dec 18        (226)        (272)        (181)
Atara Biotherapeutics South San Francisco CA Dec 18        (231)        (120)          (79)
Avaya Holdings Santa Clara CA Sep 18        (239)        (100)        (719)
Sunrun San Francisco CA Dec 18        (251)        (275)        (265)
Bloom Energy San Jose CA Dec 18        (258)        (281)        (336)
United States Oil Fund LP Oakland CA Dec 18        (291)            79          667
TiVo Corp San Jose CA Dec 18        (339)          (48)          (24)
Portola Pharmaceuticals South San Francisco CA Dec 18        (351)        (286)        (268)
Keysight Technologies Inc Santa Rosa CA Oct 18        (411)          179          366
iShares Silver Trust San Francisco CA Dec 18        (472)          217          683
Tesla Motors Palo Alto CA Dec 18     (1,005)     (2,209)        (746)
PG&E Corp San Francisco CA Dec 18   (10,129)       2,171       1,462
Total 126 Cos No Technology and No Big Oil     45,731     67,615     70,180 -32% -4% -35%
Total 236 Cos No Big Oil   283,018   264,574   234,565 7% 13% 21%
All 237 San Fran Area/Silicon Valley Cos   303,593   273,795   232,405 11% 18% 31%
Total Pretax Income: Big Oil Chevron
….. 2018
    20,575
….. 2016
    (2,160)
………. Two Year Amount Increase
    22,735
………. Two Year % Increase 
1053%
Total Pretax Income: 110 Technology Cos
….. 2018
  237,287
….. 2016
  164,385
………. Two Year Amount Increase
    72,902
………. Two Year % Increase 
44%
Total Pretax Income: 126 Non-Big Oil & Non-Tech
….. 2018
    45,731
….. 2016
    70,180
………. Two Year Amount Increase
  (24,449)
………. Two Year % Decrease 
-35%
110 Technology Cos Details By SubSector
... Total Pretax Income: 64 Software and Services Cos
….. 2018
  100,140
….. 2016
    63,878
………. Two Year Amount Increase
    36,262
………. Two Year % Increase 
57%
... Total Pretax Income: 25 Semiconductor Cos
….. 2018
    37,745
….. 2016
    15,645
………. Two Year Amount Increase
    22,100
………. Two Year % Increase 
141%
... Total Pretax Income: Apple
….. 2018
    72,903
….. 2016
    61,372
………. Two Year Amount Increase
    11,531
………. Two Year % Increase 
19%
... Total Pretax Income: 20 Other Tech Manufacturers
….. 2018
    26,499
….. 2016
    23,490
………. Two Year Amount Increase
      3,009
………. Two Year % Increase 
13%
Total Pretax Income: 110 Technology Cos
….. 2018
  237,287
….. 2016
  164,385
………. Two Year Amount Increase
    72,902
………. Two Year % Increase 
44%