Anyone who follows Omnicom knows the firm doesn’t report net revenue or net organic revenue growth, preferring only to disclose gross revenue figures, unlike competitors Publicis, WPP and proposed merger partner IPG. 

The subject came up during Omnicom’s earnings earlier this week, with one analyst asking  if the company would consider disclosing net figures, which exclude pass-through costs such as those related to principal-based trading.  

The short answer: no.  

Not that there’s anything wrong with either reporting method although some analysts have noted that it is more difficult to compare performances between firms using gross numbers versus companies offering net figures. And some say the latter numbers offer a more accurate picture of growth.  

Madison & Wall’s Brian Wieser has commented occasionally on this issue. Last year after Omnicom reported third quarter earnings, he did some calculations and concluded that the firm’s reported 6.5% organic gain for the period translated to roughly 3% net growth. 

On the Omnicom call this week, CFO Phil Angelastro said, “I wouldn’t expect that to change,” referring to the way the firm reports its numbers. “If people want to make their own estimates, they can feel free to do so,” he said. “We’re going to be consistent in our reporting and we’re going to include the costs that are part of the business.”