Rethink top 50

Rethink IT, June, 2004

RETHINK TOP 50

Company                                       Ticker       This month
                                                               market
                                                             value in
                                                            $millions

Intel                                           INTC          169,460
IBM                                              IBM          151,180
Microsoft                                       MSFT          283,900
Cisco Systems                                   CSCO          146,110
Nokia                                            NOK           67,090
Hewlett-Packard                                  HPQ           61,030
Fujitsu                                     FJTSF.PK           11,225
Dell Computer                                   DELL           90,370
Oracle                                          ORCL           58,960
Texas Instruments                                TXN           43,120
SAP                                              SAP           48,750
Seagate Technology                               STX            5,570
EMC                                              EMC           27,590
Computer Sciences                                CSC            7,530
Accenture                                        ACN           22,410
Adobe Systems                                   ADBF           10,730
Symantec Corporation                            SYMC           15,260
Veritas Software                               VRTSF           11,150
Hitachi (and HDS)                                HIT           24,210
Network Associates                               NET            2,780
Cognos                                          COGN            2,970
Apple Computer                                  AAPI            9,940
AMD (Advanced Micro Devices)                     AMD            5,050
Check Point Software Technologies               CHKP            5,990
Research in Motion                              RIMM            7,440
Network Appliance                               NTAP            6,930
BEA Systems                                     BEAS            4,460
BMC Software                                     BMC            3,930
Qlogic                                          QLGC            2,600
Siebel Software                                 SEBL            5,380
Unisys                                           UIS            4,440
LSI Logic                                        LSI            2,930
PeopleSoft                                      PSFT            6,430
Storage Technology                               STK            3,020
Computer Associates                               CA           16,170
Compuware                                       CPWR            2,880
Mercury Interactive                             MERQ            4,070
Sybase                                            SY            1,660
Hyperion Solutions                              HYSL            1,550
Novell                                          NOVL            3,880
Citrix Systems                                  CTXS            3,380
Progress Software                               PRGS              742
Business Objects                                BOBJ            2,040
Quantum                                          DSS              572
PalmOne                                         PLMO              844
NetIQ                                           NTIQ              676
Software AG                                 SOWDn.DE              N/A
Electronic Data Systems                          EDS            8,810
Brocade Communications Systems                  BRCD            1,370
Sun Microsystems                                SUNW           12,850

Totals                                                      1,391,429

                                          Last month           Market
                                              market       value less
                                            value in          cash to
                                           $millions          revenue

Intel                                        206,670             5.19
IBM                                          156,900             1.60
Microsoft                                    283,720             7.07
Cisco Systems                                167,680             7.27
Nokia                                         84,860             1.81
Hewlett-Packard                               68,540             0.64
Fujitsu                                       10,394             0.17
Dell Computer                                 88,990             2.41
Oracle                                        66,950             5.38
Texas Instruments                             48,870             3.96
SAP                                           49,960             5.30
Seagate Technology                             7,195             0.65
EMC                                           29,950             4.02
Computer Sciences                              7,810             0.65
Accenture                                     23,420             1.64
Adobe Systems                                  9,230             7.32
Symantec Corporation                          14,650             6.87
Veritas Software                              10,930             4.78
Hitachi (and HDS)                             20,250             0.20
Network Associates                             2,250             1.97
Cognos                                         2,950             3.78
Apple Computer                                 7,780             0.85
AMD (Advanced Micro Devices)                   5,490             1.06
Check Point Software Technologies              4,340            11.44
Research in Motion                             3,510            10.57
Network Appliance                              7,240             6.90
BEA Systems                                    4,830             3.20
BMC Software                                   3,790             2.13
Qlogic                                         5,010             3.54
Siebel Software                                6,500             2.48
Unisys                                         5,470             0.64
LSI Logic                                      3,320             1.22
PeopleSoft                                     8,110             2.16
Storage Technology                             2,660             0.91
Computer Associates                           13,480             4.76
Compuware                                      2,190             1.70
Mercury Interactive                            4,200             6.47
Sybase                                         1,980             1.48
Hyperion Solutions                             1,270             2.37
Novell                                         3,500             2.96
Citrix Systems                                 3,750             5.32
Progress Software                                759             1.92
Business Objects                               2,150             3.20
Quantum                                          541             0.35
PalmOne                                          644             0.69
NetIQ                                            740             1.14
Software AG                                      N/A
Electronic Data Systems                       11,060             0.31
Brocade Communications Systems                 1,470             1.64
Sun Microsystems                              14,250             0.92

Totals                                     1,492,203             2.14

                                     Profit multiple          Revenue
                                            based on              for
                                             current           latest
                                             quarter          quarter

Intel                                           22.6         8,091.00
IBM                                             22.3        22,250.00
Microsoft                                       43.2         9,175.00
Cisco Systems                                   28.3         5,620.00
Nokia                                           13.4         8,049.38
Hewlett-Packard                                 12.6        19,514.00
Fujitsu                                          2.0        14,272.30
Dell Computer                                   28.4        11,512.00
Oracle                                          20.1         2,509.00
Texas Instruments                               26.6         2,936.00
SAP                                             40.6         1,890.54
Seagate Technology                               6.6         1,388.00
EMC                                             44.9         1,871.63
Computer Sciences                               14.4         3,621.20
Accenture                                       39.5         3,682.30
Adobe Systems                                   19.3           423.28
Symantec Corporation                            27.5           556.44
Veritas Software                                20.6           487.17
Hitachi (and HDS)                               53.1        23,405.53
Network Associates                               8.2           216.62
Cognos                                          14.0           202.15
Apple Computer                                  28.5         1,909.00
AMD (Advanced Micro Devices)                    20.7         1,236.43
Check Point Software Technologies               29.5           116.06
Research in Motion                              37.8           210.59
Network Appliance                               38.0           297.29
BEA Systems                                     19.1           278.07
BMC Software                                    20.5           400.20
Qlogic                                          14.1           128.29
Siebel Software                                 26.5           329.29
Unisys                                          32.6         1,462.00
LSI Logic                                       20.5           452.36
PeopleSoft                                      50.5           643.12
Storage Technology                              21.2           515.07
Computer Associates                            168.4           844.00
Compuware                                       26.8           318.19
Mercury Interactive                             43.3           156.81
Sybase                                          21.8           183.16
Hyperion Solutions                              23.8           166.14
Novell                                          80.8           267.11
Citrix Systems                                  83.9           161.31
Progress Software                               32.0            86.38
Business Objects                               137.6           217.24
Quantum                                          N/A           205.91
PalmOne                                          N/A           242.49
NetIQ                                            N/A            66.92
Software AG                                                    116.30
Electronic Data Systems                          N/A         5,198.00
Brocade Communications Systems                   N/A           145.04
Sun Microsystems                                 N/A         2,651.00

Totals                                          30.2          160,677

                                                This              Net
                                             quarter           income
                                                last             this
                                                year          quarter

Intel                                       6,751.00         1,730.00
IBM                                        20,065.00         1,602.00
Microsoft                                   7,835.00         1,315.00
Cisco Systems                               4,618.00         1,211.00
Nokia                                       8,229.20           991.44
Hewlett-Packard                            17,877.00           936.00
Fujitsu                                    13,289.75           922.43
Dell Computer                               9,735.00           749.00
Oracle                                      2,306.90           635.00
Texas Instruments                           2,192.00           367.00
SAP                                         1,846.80           278.24
Seagate Technology                          1,620.00           159.00
EMC                                         1,384.15           139.81
Computer Sciences                           2,793.60           128.40
Accenture                                   3,189.02           123.09
Adobe Systems                                 296.90           123.04
Symantec Corporation                          390.04           116.93
Veritas Software                              394.39           102.96
Hitachi (and HDS)                          21,658.66            73.35
Network Associates                            219.31            56.02
Cognos                                        163.73            46.10
Apple Computer                              1,475.00            46.00
AMD (Advanced Micro Devices)                  714.56            45.09
Check Point Software Technologies             104.85            41.93
Research in Motion                             87.50            41.54
Network Appliance                             228.46            40.46
BEA Systems                                   249.33            39.27
BMC Software                                  380.70            36.90
Qlogic                                        120.57            32.86
Siebel Software                               332.76            31.65
Unisys                                      1,398.90            28.90
LSI Logic                                     372.79            25.24
PeopleSoft                                    460.26            24.21
Storage Technology                            479.96            23.35
Computer Associates                           754.00            22.00
Compuware                                     333.14            21.83
Mercury Interactive                           110.39            18.91
Sybase                                        181.55            13.19
Hyperion Solutions                            126.56            12.73
Novell                                        259.97            10.14
Citrix Systems                                143.49             9.33
Progress Software                              71.82             4.64
Business Objects                              118.52             3.26
Quantum                                       235.14            -9.14
PalmOne                                       197.86            -9.32
NetIQ                                          80.17           -10.61
Software AG                                   125.32           -11.85
Electronic Data Systems                     5,017.00           -12.00
Brocade Communications Systems                123.12           -36.76
Sun Microsystems                            2,790.00          -760.00

Totals                                       143,929           11,529

                                                 Net        Quarterly
                                              income              net
                                                last           margin
                                                year

Intel                                         915.00            21.4%
IBM                                         1,384.00             7.2%
Microsoft                                   2,142.00            14.3%
Cisco Systems                                 987.00            21.5%
Nokia                                       1,187.06            12.3%
Hewlett-Packard                               721.00             4.8%
Fujitsu                                       461.01             6.5%
Dell Computer                                 603.00             6.5%
Oracle                                        571.34            25.3%
Texas Instruments                             117.00            12.5%
SAP                                           225.99            14.7%
Seagate Technology                            174.00            11.5%
EMC                                            35.18             7.5%
Computer Sciences                             105.70             3.5%
Accenture                                     118.72             3.3%
Adobe Systems                                  54.23            29.1%
Symantec Corporation                           68.14            21.0%
Veritas Software                               42.53            21.1%
Hitachi (and HDS)                             225.07             0.3%
Network Associates                             12.47            25.9%
Cognos                                         29.57            22.8%
Apple Computer                                 14.00             2.4%
AMD (Advanced Micro Devices)                 -146.36             3.6%
Check Point Software Technologies              60.08            36.1%
Research in Motion                            -31.10            19.7%
Network Appliance                              21.38            13.6%
BEA Systems                                    35.04            14.1%
BMC Software                                   20.60             9.2%
Qlogic                                         29.89            25.6%
Siebel Software                                 4.62             9.6%
Unisys                                         38.50             2.0%
LSI Logic                                     -50.83             5.6%
PeopleSoft                                     38.48             3.8%
Storage Technology                             16.45             4.5%
Computer Associates                           -44.00             2.6%
Compuware                                      25.43             6.9%
Mercury Interactive                            18.14            12.1%
Sybase                                         12.97             7.2%
Hyperion Solutions                              8.26             7.7%
Novell                                        -11.89             3.8%
Citrix Systems                                 30.33             5.8%
Progress Software                               4.24             5.4%
Business Objects                                8.81             1.5%
Quantum                                        -6.44            -4.4%
PalmOne                                      -172.34            -3.8%
NetIQ                                          -3.16           -15.9%
Software AG                                   -17.95           -10.2%
Electronic Data Systems                    -1,431.00            -0.2%
Brocade Communications Systems                 -6.89           -25.3%
Sun Microsystems                                4.00           -28.7%

Totals                                         8,649             7.2%

                                            % change             Last
                                          in quarter           year's
                                             revenue          revenue

Intel                                          19.8%           30,141
IBM                                            10.9%           89,131
Microsoft                                      17.1%           32,187
Cisco Systems                                  21.7%           18,878
Nokia                                          -2.2%           29,455
Hewlett-Packard                                 9.2%           73,061
Fujitsu                                         7.4%        43,702.83
Dell Computer                                  18.3%           35,404
Oracle                                          8.8%            9,475
Texas Instruments                              33.9%            9,834
SAP                                             2.4%            8,535
Seagate Technology                            -14.3%            6,486
EMC                                            35.2%            6,237
Computer Sciences                              29.6%           11,347
Accenture                                      15.5%           11,818
Adobe Systems                                  42.6%            1,295
Symantec Corporation                           42.7%            1,870
Veritas Software                               23.5%            1,771
Hitachi (and HDS)                               8.1%        79,142.30
Network Associates                             -1.2%              933
Cognos                                         23.5%              683
Apple Computer                                 29.4%            6,207
AMD (Advanced Micro Devices)                   73.0%            3,519
Check Point Software Technologies              10.7%              433
Research in Motion                            140.7%              595
Network Appliance                              30.1%              892
BEA Systems                                    11.5%              934
BMC Software                                    5.1%            1,419
Qlogic                                          6.4%              524
Siebel Software                                -1.0%            1,354
Unisys                                          4.5%            5,911
LSI Logic                                      21.3%            1,693
PeopleSoft                                     39.7%            2,267
Storage Technology                              7.3%            2,183
Computer Associates                            11.9%            3,116
Compuware                                      -4.5%            1,375
Mercury Interactive                            42.1%              506
Sybase                                          0.9%              778
Hyperion Solutions                             31.3%              510
Novell                                          2.7%            1,105
Citrix Systems                                 12.4%              589
Progress Software                              20.3%              309
Business Objects                               83.3%              561
Quantum                                       -12.4%              871
PalmOne                                        22.6%              872
NetIQ                                         -16.5%              310
Software AG                                    -7.2%              577
Electronic Data Systems                         3.6%           21,476
Brocade Communications Systems                 17.8%              562
Sun Microsystems                               -5.0%           11,434

Totals                                         11.6%          562,272

                                               Cash,             Cash
                                                cash     multiples of
                                              equivs      one month's
                                                             revenues

Intel                                         13,146              5.2
IBM                                            8,501              1.1
Microsoft                                     56,407             21.0
Cisco Systems                                  8,861              5.6
Nokia                                         13,851              5.6
Hewlett-Packard                               13,940              2.3
Fujitsu                                        3,822              1.0
Dell Computer                                  5,152              1.7
Oracle                                         8,018             10.2
Texas Instruments                              4,137              5.0
SAP                                            3,550              5.0
Seagate Technology                             1,363              2.5
EMC                                            2,495              4.8
Computer Sciences                                148              0.2
Accenture                                      2,980              3.0
Adobe Systems                                  1,249             11.6
Symantec Corporation                           2,410             15.5
Veritas Software                               2,684             18.2
Hitachi (and HDS)                              8,639              1.3
Network Associates                               941             12.1
Cognos                                           388              6.8
Apple Computer                                 4,694              9.1
AMD (Advanced Micro Devices)                   1,308              4.5
Check Point Software Technologies              1,043             28.9
Research in Motion                             1,156             23.3
Network Appliance                                778             10.5
BEA Systems                                    1,467             18.8
BMC Software                                     909              7.7
Qlogic                                           743             17.0
Siebel Software                                2,023             17.9
Unisys                                           671              1.4
LSI Logic                                        858              6.1
PeopleSoft                                     1,537              8.1
Storage Technology                             1,039              5.7
Computer Associates                            1,352              5.2
Compuware                                        542              4.7
Mercury Interactive                              791             18.8
Sybase                                           508              7.8
Hyperion Solutions                               339              8.0
Novell                                           605              6.6
Citrix Systems                                   251              5.1
Progress Software                                149              5.8
Business Objects                                 246              5.3
Quantum                                          265              3.7
PalmOne                                          240              3.3
NetIQ                                            322             12.4
Software AG                                      101              2.1
Electronic Data Systems                        2,132              1.2
Brocade Communications Systems                   448              9.6
Sun Microsystems                               2,372              2.5

Totals                                       188,754              4.0

* Companies shown in order of net income last quarter

* Those In blue have reported since our last issue