Beginning this fall, Missouri Business Alert is providing a new tool for measuring the collective market performance of businesses based in the Show-Me State. The Show-Me 30 index tracks the market capitalization of the most valuable publicly traded companies headquartered in Missouri.
There are 64 actively traded public companies based in Missouri, according to filings with the Securities and Exchange Commission from July and August of 2017. Those companies had a combined market capitalization of $317 billion as of Sept. 1, accounting for about 1 percent of the total U.S. market cap.
The Show-Me 30
Thirty-one of those 64 companies have a market value of at least $1 billion. Those 31 companies combine to make up about 98 percent of Missouri’s total market capitalization. Those companies are the Show-Me 30.
Like the Dow Jones Industrial Average and the S&P 500 do for U.S. equities, the Show-Me 30 index aims to provide a measure of the market’s view of Missouri’s most important businesses.
The materials sector accounts for the largest slice of the Show-Me 30, thanks to Monsanto Co. and Olin Corp. Health care is the next-largest sector in the index, led by Express Scripts Holding Co. and and Centene Corp. The industrials sector, dominated by Emerson Electric Co., is the third-largest contributor to the state’s total market capitalization.
Note: Based on GICS® sectors
The index’s three most valuable companies, Monsanto, Emerson Electric and Express Scripts, together make up about 40 percent of the state’s total market capitalization.
The St. Louis metro area is home to 36 of Missouri’s public companies, including 19 companies in the Show-Me 30. The Kansas City area is home to 18 more of the state’s publicly traded companies, including nine in the index.
Southwest Missouri is home to the other three companies in the Show-Me 30, which represent about $32 billion, or 10 percent, of the state’s market cap.
On the map below, the headquarters of companies in the Show-Me 30 are marked by black dots. The headquarters of other publicly traded companies are indicated by blue dots.
The Show-Me 30 index is computed by weighted average market capitalization, similar to S&P 500 index. The index’s base capital date, or launch date, is Sept. 1, 2017. The base value is 100.
The value of the Show-Me 30 changes with the movement of the 31 underlying stocks, and it is updated on a weekly basis.
Changes to the index are made on an as-needed basis in response to corporate actions and market developments.
Changes in a company’s shares outstanding due to its acquisition of or sale to another public company are made as soon as reasonably possible.
Other changes (arising, for example, from stock repurchases, private placements, redemptions, warrants, conversion of preferred stock, notes, debt or other recapitalizations) are made weekly.
Annually on Sept. 1, companies will be added to or removed from the index as their average market value for the last 52 weeks goes above or below $1 billion.