It’s always fun to compare the Fortune 500 and PBR1000 lists, to find out if we came close to each other. When you take out the mutual fund companies, private companies, non-profits, associations and fraternal groups from the Fortune 500 list, and are left with the US publicly held companies, we actually come pretty close.
The lastest Fortune 500 list came out last month on May 6th, so we took a look. We had already heard some news about this year’s list and it was as a bit of a spoiler alert. As reported, Fortune proudly proclaimed that 
had retaken the #1 spot over 
.
However, a review of Walmart’s and ExxonMobil’s 2012 10-K reports showed that, in fact, ExxonMobil still had reported a higher revenue number than Walmart.
But, of course, there are some details to consider. ExxonMobil had a note reference in the Fortune 500 report, and in that note Fortune indicated that it had deducted excise taxes collected by ExxonMobil from the revenues to come up with a “total revenues” number. In a way, it does make sense, but it still put us in a quandary.
There are other similar situations. Hospital systems, who have an initial revenue number, then deduct a pretty large number for anticipated losses, show the resulting number as the total revenue number. We saw another company where shipping and handling charges were deducted from the gross revenue to come up with total revenue. After these “total” revenues are calculated, then typical cost of goods/services is deducted to arrive at a net income, then the usual business expenses are then deducted.
So which number should The PBR1000 Quarterly Report use for revenues? We have chosen to just be simple and use the top revenue number on the 10-K report and as reported in the SEC EDGAR reports. It’s simple, straightforward, and we don’t have to come up with explanations. And after all, what’s the difference of a few billion dollars?
So, while Walmart became #1 again, after a year lapse behind ExxonMobil, on the Fortune 500 list, The PBR1000 has decided to stay with ExxonMobil as #1.
Now it’s up to you! Who do you say should be Number 1? We are kind of a democracy at PBRMarketTools, so let us know, we might even make some changes based on your input!
