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Microsoft makes state’s greatest 3rd-quarter gains | Taking Stock


October 4, 2017

The third quarter of 2017 showed the smallest gain for Washington companies in 2017. The largest companies in the state grew, but gains were less for smaller companies.

Washington’s combined market capitalization grew from $1.387 trillion to $1.429 trillion, a gain of $42 billion. Market capitalization is the value of one share multiplied by the total number of shares.

Microsoft gained $41 billion by itself, so gains elsewhere were limited. Microsoft is now worth nearly $574 billion. had out-gained Microsoft during the first half of 2017, but lost a billion dollars during the third quarter to finish at just under $462 billion.

Starbucks remains the third most valuable company in Washington, but lost nearly $7 billion in value to finish at $77.5 billion. Costco remained No. 4, gaining $2 billion to come in at $72 billion in value. T-Mobile US gained about $1 billion to finish at $51 billion.

Weyerhaeuser edged out PACCAR for the sixth spot. Both are just over $25 billion. Everett-based Fortive gained more than $2 billion, moving it up to No. 8 with $24.5 billion. Fortive is the most valuable company in Washington outside of King County. Expedia lost ground, finishing just under $22 billion for 9th place. Then, in 10th place, there’s Expeditors International at just under $11 billion.

King County gained $43 billion, meaning most of the gain for the state was concentrated in there. King County is now at $1.377 trillion in value. Snohomish County gained more than $3 billion, making it second among the state’s counties at $33 billion.

Spokane County gained more than $1 billion for a total value of $9.5 billion. Pierce County lost a little value to end at $3.4 billion and claim fourth place among Washington counties. Walla Walla County remains fifth in the state at just over $2 billion. Clark County is sixth at $1.5 billion.

There are now 24 companies in Washington that have a value greater than $2 billion. Oddly, no companies have a value between $1 billion and $2 billion. Some 59 companies have a value greater than $100 million. Each of the top six counties have a value greater than $1 billion, but Thurston County is getting close at just under $950 million.

Of the 24 companies that are valued at more than $2 billion, 17 are located in King County, three in Spokane County, two in Snohomish County and one each in Pierce and Walla Walla counties.

The Snohomish County companies are the largest outside King County – No. 8 Fortive at $24.5 billion and No. 13 Seattle Genetics at $7.8 billion. The Spokane County companies are at No. 18, No. 19 and No. 23, with values ranging from $2 billion to $3.3 billion.

Tim Raetzloff operates Abarim Business Computers at Harbor Square in Edmonds. What he writes combines his sense of history and his sense of numbers. Neither he nor Abarim have an investment in any of the companies mentioned in this column.


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