The Health Care Fortune Slide Series, Volume 57 February, 2018
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1 The Health Care Fortune Slide Series, Volume 57 February,
2 Background Fortune groups companies into 21 sectors. This edition of the 5 Slide Series analyzes the 2017 health care sector Fortune 500 companies, as well as CVS, Walgreens, Rite Aid, and McKesson, for a total of 46 companies. We analyzed the companies by revenue rank, profit rank, revenues, profit, and percentage profit margin. The 2017 Fortune 500 list is based on company performance data. 2
3 Current (2017) Fortune 500 Companies by Business Sector s Number of Category Companies Technology 43 $1,257,589 $177, % Hotels, Restaurants & Leisure 10 $121,189 $14, % Food, Beverages & Tobacco 24 $472,806 $56, % Business Services 20 $194,685 $23, % Media 11 $180,767 $20, % Financials 84 $2,067,607 $228, % Household Products 12 $180,846 $19, % Apparel 5 $66,254 $6, % Telecommunications 10 $459,978 $41, % Chemicals 14 $188,667 $15, % Transportation 17 $354,733 $28, % Industrials 19 $418,359 $32, % Aerospace & Defense 12 $338,302 $25, % Health Care 46 $1,954,210 $115, % Motor Vehicles & Parts 9 $392,466 $17, % Engineering & Construction 13 $124,682 $5, % Retailing 47 $1,383,281 $46, % Materials 19 $169,755 $5, % Wholesalers 23 $311,683 $5, % Food & Drug Stores 5 $241,598 $4, % Energy 57 $1,176,417 $ % Total 500 $12,055,874 $889, % The health care sector represented 9.2% of the Fortune 500 companies, 16.2% of the Fortune 500 companies revenues, and 13.0% of the Fortune 500 companies profits. Health care companies have become more prominent within the Fortune 500 list. The health care industry had 46 Fortune 500 firms during 2017, as compared with 44 during 2010 and 36 during In 2017, seven health care companies were in the top 25 versus four in 2010 and zero in Collectively, the 46 health care companies earned a 5.9% profit margin during, whereas the entire Fortune 500 group earned a collective profit margin of 7.4%. The top 3 Fortune 500 companies in terms of profit margin during were ebay (a technology firm at 80%), Altria Group (a tobacco company at 74%), and Baxter International (a health care company at 49%). 3
4 Fortune 500 Health Care Companies by Industry s Number of Category Companies Pharmaceuticals 10 $306,867 $67, % Medical Products and Equipment 7 $76,898 $10, % Health Care: Pharmacy and Other Services 5 $301,849 $10, % Health Care: Insurance and Managed Care 8 $499,645 $15, % Food and Drug Stores 2 $148,088 $4, % Health Care: Medical Facilities 8 $133,130 $1, % Wholesalers: Health Care 6 $487,733 $5, % Grand Total 46 $1,954,210 $115, % The ten pharmaceutical companies represented the largest subcategory of health care companies in the 2017 Fortune 500. These companies had a collective profit margin of 22% and accounted for more than half of the total profits of Fortune 500 health care companies. Insurance and managed care companies captured the largest revenues among the Fortune 500 health care companies. 4
5 Insurance and Managed Care s by Health Care: Insurance and Managed Care $499,645 $15, % UnitedHealth Group 6 33 $184,840 $7, % Anthem $84,863 $2, % Aetna $63,155 $2, % Humana $54,379 $ % Centene $40,721 $ % Cigna $39,668 $1, % Molina Healthcare $17,782 $52 0.3% WellCare Health Plans $14,237 $ % The eight Fortune 500 health insurance companies were all in the top 200, with six in the top 70. UnitedHealth Group (Fortune #6) had more than twice the revenue as the next largest health insurance company (Anthem at Fortune #29). These two companies were the only health insurance companies among the top 100 in terms of profits. All eight companies earned a positive profit margin during, with the highest being Cigna (4.7%). Collectively, the eight health insurance companies earned an average profit of 3.0%. 5
6 Pharmaceuticals s The 10 pharmaceutical companies in the Fortune 500 had the highest collective average profit margin across the health care industry during (22.1%). Gilead Sciences earned the highest profit margin among these firms (44.4%), driven by their Hepatitis C drugs. The lowest profit margin among these ten companies during (Merck at 9.8%) earned a larger profit margin than all Fortune 500 firms collectively earned. by Pharmaceuticals $306,867 $67, % Johnson & Johnson 35 8 $71,890 $16, % Pfizer $52,824 $7, % Merck $39,807 $3, % Gilead Sciences $30,390 $13, % AbbVie $25,638 $5, % Amgen $22,991 $7, % Eli Lilly $21,222 $2, % Bristol-Myers Squibb $19,427 $4, % Biogen $11,449 $3, % Celgene $11,229 $1, % 6
7 Pharmacy and Other Services s by Health Care: Pharmacy and Other Services $449,937 $14, % CVS Health 7 44 $177,526 $5, % Walgreens Boots Alliance $117,351 $4, % Express Scripts Holding $100,288 $3, % Rite Aid $30,737 $ % Laboratory Corp. of America $9,642 $ % Quest Diagnostics $7,515 $ % Quintiles IMS Holdings $6,878 $ % CVS (Fortune #7) was the largest company in the Pharmacy and Other Services category and had the largest profits ($5.3 billion) in this subgroup. Quest Diagnostics (Fortune #366) had the largest percentage profit margin among this subgroup during (8.6%). The other diagnostics firm in this group, LabCorp, also had a strong profit margin (7.6%). 7
8 Medical Facilities s by Health Care: Medical Facilities $133,130 $1, % HCA Holdings $44,747 $2, % Community Health Systems $21,374 -$1, % Tenet Healthcare $21,070 -$ % DaVita $15,197 $ % Universal Health Services $10,508 $ % LifePoint Health $7,274 $ % Kindred Healthcare $7,227 -$ % Genesis Healthcare $5,733 -$64-1.1% HCA Holdings (Fortune #63) was the only medical facility company in the top of the 8 Medical Facility companies in the Fortune 500 lost money during. 8
9 Medical Products and Equipment s by Medical Products and Equipment $76,898 $10, % Abbott Laboratories $20,853 $1, % Becton Dickinson $12,483 $ % Stryker $11,325 $1, % Baxter International $10,163 $4, % Boston Scientific $8,386 $ % Zimmer Biomet Holdings $7,684 $ % St. Jude Medical $6,004 $ % The medical products and equipment companies had the second highest average profit margin in the health care industry at 13.5%. Baxter International makes renal products, infusion systems, and software. Baxter earned a huge 48.9% profit margin during. 9
10 Wholesalers s by Wholesalers: Health Care $487,733 $5, % McKesson $192,487 $2, % AmerisourceBergen $146,850 $1, % Cardinal Health $121,546 $1, % Henry Schein $11,572 $ % Owens & Minor $9,723 $ % Patterson $5,555 $ % While all the health care wholesalers companies achieved positive earnings during, this subgroup had the lowest average profit margin across the health industry at 1.2%. This subgroup contains three of the nation s 15 largest companies in terms of revenues McKesson (Fortune #5), Amerisource Bergen (Fortune #11), and Cardinal Health (Fortune #15). 10
11 5 Slide Series Overview Our 5 Slide Series is a monthly publication whereby we briefly discuss/address a selected topic outside the confines of our client engagements. To be added to our list to receive these as they are published (or to be removed), please us at jmenges@themengesgroup.com or call Address: th Street N., Suite 227, Arlington, VA Website: 11
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