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Thinking about it, revenue makes sense. Using hypothectal numbers.
Walmart can make $20 billion in Ohio and pay $5 billion in operating costs. That's $15 billion in revenue going back to corporate in Arkansas (or shareholders). Add that across the globe and easy to see why they are raking.
Cleveland Clinic can make $60 billion (educated guess its salary is 3 times higher in Ohio than Walmarts on average since they are both in that 50,000 employee range) and pay out $51 billion in costs. So it's only showing $9 billion in revenue but its putting a hell of a lot more money back in the overall economy... most of it local.
Though I imagine the Clinic really is bringing in more than $9 billion. But at the same time it's not hoarding the same amount of wealth that Walmart is in Ohio, let alone worldwide.
Fair enough. Though I'm guessing (maybe someone more versed in how revenue is calculated can chime in) but its non profit status knocks that down.
Overall, though, it's the state's largest employer and a good chunk of that is high wage jobs. Unlike Walmart (Ohio's no. 2 employer which is heavily leaned to the low waged side here).
I'd guess its total value of services is in line with most hospitals. It's simply not a high-revenue field despite the absurd prices we pay for anything medical in the US.
As for Walmart, their profits are pretty low...net profits around 1.2% of revenue last year. Retail typically has very low margins. Its market cap was 1/3 of the top companies on Friday despite being enormous in sale terms.
Thinking about it, revenue makes sense. Using hypothectal numbers.
Walmart can make $20 billion in Ohio and pay $5 billion in operating costs. That's $15 billion in revenue going back to corporate in Arkansas (or shareholders). Add that across the globe and easy to see why they are raking.
Cleveland Clinic can make $60 billion (educated guess its salary is 3 times higher in Ohio than Walmarts on average since they are both in that 50,000 employee range) and pay out $51 billion in costs. So it's only showing $9 billion in revenue but its putting a hell of a lot more money back in the overall economy... most of it local.
Though I imagine the Clinic really is bringing in more than $9 billion. But at the same time it's not hoarding the same amount of wealth that Walmart is in Ohio, let alone worldwide.
Revenue means gross revenue. So Walmart’s gross revenue (total sales) is greater than $400 billion. The Cleveland Clinic’s is $9 billion per someone’s post above.
What is it with Cleveland posters always trying to make Cleveland and Ohio out to be New York City? There is no shame with Walmart having more revenue than the Clinic.
Revenue means gross revenue. So Walmart’s gross revenue (total sales) is greater than $400 billion. The Cleveland Clinic’s is $9 billion per someone’s post above.
What is it with Cleveland posters always trying to make Cleveland and Ohio out to be New York City? There is no shame with Walmart having more revenue than the Clinic.
Seriously? What an overreaction. I didn't get any of that from the poster. Why do people from many other cities and states on here make their areas seem to be more than what they are? Start calling out all the posters that do it. Pennsylvania has a lot, too. Maybe start there.
The Cleveland Clinic has a large presence internationally in the medical field so I can at least see why the question was asked even though it seems obvious that it shouldn't be listed though Cardinal Health was.
Revenue means gross revenue. So Walmart’s gross revenue (total sales) is greater than $400 billion. The Cleveland Clinic’s is $9 billion per someone’s post above.
What is it with Cleveland posters always trying to make Cleveland and Ohio out to be New York City? There is no shame with Walmart having more revenue than the Clinic.
Lol, chill dude. I wasn't even saying that I thought the Clinic made more revenue than Walmart. I know Walmart is the largest (or one of the largest) corporations in the world.
I shouldn't have brought it up for Ohio. Only reason I did that was because the Clinic passed up Walmart for the state's biggest employer. Then I saw that Cardinal Health, which ranked 51st in employees on the same list, was no. 1 in Ohio in revenue and I wasn't familiar with it and assumed it was a hospital system. (Looks like it specializes in selling medical apparel)
So I figured if a health care system was Ohio's top revenue company that there may have been another reason why the Clinic wasn't higher (maybe, due its non profit status).
It's since been cleared up.
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