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Most valuable company in Snohomish County | Taking Stock

 


How about a little bit of cocktail party trivia? Can you name the most valuable company that has its headquarters in Snohomish County?

Market value or market capitalization is calculated by multiplying the value of one share by the number of shares outstanding. Even if you can name the company, who cares? Why is it important?

The headquarters of a company is the heart and soul. It is also where the highest paid employees are. It is where decisions for the future of the company are made.

Trying to bring in jobs is all well and good, but it is far more important to have the company headquarters. The Puget Sound area has prospered because so many companies of international caliber are located here.

Forty years ago Microsoft, Amazon, Costco, and Starbucks didn't exist. They now have a combined market value of $600 billion. That is wealth on an international scale.

Unfortunately, none of those major companies has its headquarters in Snohomish County. All are located in our big neighbor to the south, King County.

The biggest company in Snohomish County is not (at least not yet) a name that has an international ring to it.

At $4.331 billion in market value, it is significantly smaller than the biggest companies in King County. But it is ours. Its headquarters is in Snohomish County, and $4.33 billion is still a bit of change.

The company is Seattle Genetics, located in Bothell. At the close of stock market trading on Feb. 20, the share price of Seattle Genetics was $34.96, and Seattle Genetics had 123,891,580 shares outstanding, according to the most recent 10-Q filing at the SEC on Nov. 4, 2014.

Seattle Genetics is a biotechnology company that is working to develop and commercialize innovative antibody-based therapies for the treatment of cancer.

The second most valuable company in Snohomish County is specialty retailer Zumiez, located in Lynnwood.

More trivia: Former Snohomish County Deputy Executive and former Edmonds Mayor Gary Haakenson helped found the clothing-store company, which started off as Above the Belt.

Zumiez shares closed at $38.77 on Feb. 19. Zumiez has 29,223,956 shares outstanding, as of the most recent report on Dec. 2, 2014. That gives Zumiez a market value of $1.13 billion.

Now you are armed with cocktail party information about Snohomish County companies. Use this power carefully.

Tim Raetzloff, who operates Abarim Business Computers at Harbor Square in Edmonds, evaluates Puget Sound business activity in his regular column in the Beacon. In the interests of full disclosure he says, “Neither I nor Abarim have any interest in or conflict with any company mentioned in this column.”

 

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