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The total cash and marketable securities (the Apple 96.7B figure) for the S&P 500 is 2.84T. So out of just the S&P 500 Apple is 3.44%. I'm not sure where the 12

The total cash and marketable securities (the Apple 96.7B figure) for the S&P 500 is 2.84T. So out of just the S&P 500 Apple is 3.44%. I'm not sure where the 12% figure stated in the article is coming from.

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mathattack 15y ago
Apologies for posting a linked article to a linked article to an unlinked Moody's report... FT sometimes has a paywall, so I prefer to link to a summary. The FT article (http://ftalphaville.ft.com/blog/2012/03/14/923981/a-us-corporate-cash-update/ http://ftalphaville.ft.com/blog/2012/03/14/923981/a-us-corpo...) quotes a total corporate cash # of 1.3 trillion (bottom chart) and projects growth from 150 million. Mess with the numerator and denominator both and you get the shift. What's your source on the 2.84T? It appears the article takes into account ST & LT liquid investments, so it's probably not a difference in accounting.
- apaprocki 15y ago
  I loaded up the S&P 500 into the equity screener on the Bloomberg terminal and got a sum for the cash and marketable securities column. (Apple correctly shows 96.7B in the column, so I know it is comparing apples to apples.) The data comes from the latest filing of each company. edit: I see what they did. The bottom chart is showing cash from operations, which is a totally different data point. That chart is old (2011 Q3).. the cash from operations value for the S&P 500 is now 1.65T and Apple is 45.31B, or roughly 2.75%. Their "Top 10" list is wrong by either metric. The 10 companies with the highest cash and marketable securities (what they are showing) are: JPMorgan Chase - $380.20B Bank of America - $357.29B Berkshire Hathaway - $162.47B Bank NY Mellon - $135.25B General Electric - $131.87B Apple Inc - $ 97.60B State St Corp - $ 68.12B Wells Fargo & Co - $ 63.81B Goldman Sachs - $ 56.01B Microsoft Corp - $ 51.74B
  - mathattack 15y ago
    Interesting. I was thinking they just left out banks. Amazing the power of dividing apples by oranges. :-)

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deleted 15y ago
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mathattack 15y ago

Apologies for posting a linked article to a linked article to an unlinked Moody's report... FT sometimes has a paywall, so I prefer to link to a summary. The FT article (http://ftalphaville.ft.com/blog/2012/03/14/923981/a-us-corporate-cash-update/ http://ftalphaville.ft.com/blog/2012/03/14/923981/a-us-corpo...) quotes a total corporate cash # of 1.3 trillion (bottom chart) and projects growth from 150 million. Mess with the numerator and denominator both and you get the shift. What's your source on the 2.84T? It appears the article takes into account ST & LT liquid investments, so it's probably not a difference in accounting.

apaprocki 15y ago
I loaded up the S&P 500 into the equity screener on the Bloomberg terminal and got a sum for the cash and marketable securities column. (Apple correctly shows 96.7B in the column, so I know it is comparing apples to apples.) The data comes from the latest filing of each company. edit: I see what they did. The bottom chart is showing cash from operations, which is a totally different data point. That chart is old (2011 Q3).. the cash from operations value for the S&P 500 is now 1.65T and Apple is 45.31B, or roughly 2.75%. Their "Top 10" list is wrong by either metric. The 10 companies with the highest cash and marketable securities (what they are showing) are: JPMorgan Chase - $380.20B Bank of America - $357.29B Berkshire Hathaway - $162.47B Bank NY Mellon - $135.25B General Electric - $131.87B Apple Inc - $ 97.60B State St Corp - $ 68.12B Wells Fargo & Co - $ 63.81B Goldman Sachs - $ 56.01B Microsoft Corp - $ 51.74B
- mathattack 15y ago
  Interesting. I was thinking they just left out banks. Amazing the power of dividing apples by oranges. :-)