Sunday, August 16, 2020

Isolating Out Microsoft and Amazon With Matching Stock Market Caps of $1.58 Trillion, Washington State Companies Performed Substantially Better on the Audited Annual Pretax Earnings Growth Front During the Obama Administration's Eight Years in Office (2009-2016) ..... Up a Blistering 55% Per Year ..... Than They Did During the Trump Administration's First Three Full Years in Office (2017-2019) ..... Down 4% Per Year

From a review of SEC filings and Google Finance, there were 25 Washington State Companies with stock market caps of above $1 bil in June 2020 and which reported Pretax Income (Loss) From Continuing Operations in their annual financial statement earnings information filed with the SEC for each of the most recent twelve years (Years from 2008-2019). 

I isolated out Microsoft since its unusual earnings growth trend was mainly due to a change in CEOs from someone who was elderly and no longer having a good feel for what works in technology to someone much younger and exceptionally tech savvy and who is now perhaps the premier CEO in the world.

And I isolated out Amazon since a very high proportion of its earnings in the more recent years of the past twelve years were made in Web Services.  Unfortunately, it invested those earnings in order to create monopolies and in the process it has played a key role in destroying some important parts of the US economy while at the same time not paying its employees fairly ..... not much of a legacy to have.

The table below shows the Pretax Income (Loss) From Continuing Operations for each of these 25 Washington State Companies for fiscal year end 2019, the last year of the Trump Administration's first three full years in office so far,  for fiscal year end 2016, the year before the start of the Trump Administration as well as also the last year of the Obama Administration, and for fiscal year end 2008, the year before the start of the Obama Administration.


Average Average
Annual  Annual 
Annual Audited Audited Audited % Change % Change
Audited Pretax Pretax Pretax During During
Washington Fincl Income Income Income Trump Obama
State Sts (Loss) (Loss) (Loss) Admin's Admin's
Washington State Companies City State 2019 FYE FYE FYE 3 Years 8 Years
Stock Market Caps Above $1 Bil HQs HQs FYE 2019 2016 2008 2017-19 2009-16
 $ mils  $ mils  $ mils
Microsoft (Market Cap $1.58 Trillion) Redmond WA Jun 19       43,688       25,639       23,814 23% 1%
Amazon.com (Market Cap $1.58 Trillion) Seattle WA Dec 19       13,976         3,892            901 86% 41%
           
Costco Issaquah WA Aug 19         4,765         3,619         2,011 11% 10%
T-Mobile US Bellevue WA Dec 19         4,603         2,327            279 33% 92%
Starbucks Seattle WA Sep 19         4,466         4,199            456 2% 103%
Paccar Bellevue WA Dec 19         3,099         1,130         1,464 58% -3%
Alaska Air Group Seattle WA Dec 19         1,016         1,316           (213) -8% NM
Expeditors Intl Washington Seattle WA Dec 19            796            687            500 5% 5%
Expedia Group Seattle WA Dec 19            775            277        (2,515) 60% NM
Nordstrom Seattle WA Jan 20            682            684            648 0% 1%
F5 Networks Seattle WA Sep 19            541            550            118 -1% 46%
Washington Federal Seattle WA Dec 19            263            248              96 2% 20%
Columbia Banking System Tacoma WA Dec 19            242            150                1 20% 1863%
Avista Spokane WA Dec 19            228            215            120 2% 10%
Banner Corp Walla Walla WA Dec 19            183            130           (135) 14% NM
Monolithic Power Systems Kirkland WA Dec 19            113              57              25 33% 16%
Itron Liberty Lake WA Dec 19              73              85              19 -5% 43%
Potlatch Deltic Spokane WA Dec 19              57                7              48 238% -11%
NanoString Technologies Seattle WA Dec 19             (40)             (47)               (9) NM NM
CytoDyn Vancouver WA May 20           (124)             (26)               (2) NM NM
Seattle Genetics Bothell WA Dec 19           (159)           (140)             (86) NM NM
Weyerhaeuser Seattle WA Dec 19           (213)            504        (2,809) -47% NM
Zillow Group Seattle WA Dec 19           (310)           (220)             (21) NM NM
Boeing Seattle WA Dec 19        (2,259)         5,783         3,995 -46% 6%
Total 23 Cos … No Microsoft and No Amazon       18,797       21,535         3,990 -4% 55%
Total all 25 Washington State Cos       76,461       51,066       28,705 17% 10%