Each year, Fortune ranks and recognizes the 100 fastest-growing companies in the U.S. The ranking, which includes companies in all industries, is based on revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 30, 2017. We are pleased to see that two of our bank clients made Fortune’s 2017 list: Banc of California (#15) and Pacific Premier Bancorp (#21).
The banking sector overall has experienced robust growth over the last few years as the U.S. economy has improved and lending has picked up, with problem loans and default rates declining. Our clients are also realizing efficiencies and addressing opportunities as a result of their Oracle Essbase, Hyperion Planning and Enterprise Planning and Budgeting Cloud Service (EPBCS) implementation projects. Being in an improving industry certainly helps, but having good tools that streamline analysis, planning and reporting enable the insights and decisions that take advantage of favorable economic conditions.
Companies considered for Fortune’s 2017 100 Fastest-Growing Companies list must meet a range of criteria, including being traded on a major U.S. stock exchange and trading continuously since June 30, 2014, have a market capitalization of at least $250 million, and have achieved annualized revenue and EPS growth of at least 15% per year over the three years ended on or before April 30, 2017. Fortune’s ranking considers revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 30, 2017 and equally weights the three variables.
Congratulations, Banc of Cal and Pacific Premier! Here’s to continuing the momentum in 2018!