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2011 Ranking of companies spending the most on research and development

The companies that bet the most on innovation: amount spent on research and development during the fiscal year 2011.

Share prices and capitalizations at 2026-11-05·Annual accounts for the fiscal year 2011·Calculated on 2026-11-08· 5191 companies ranked
Metric : research and development expenses for the fiscal year 2011 (published annual accounts). Currency : Amounts converted into US dollars at the exchange rate of the day of calculation; the amount in the currency of the accounts is repeated under each value. Only companies whose data is published are ranked: a missing value excludes the company, it is never replaced by zero or estimated.
#EnterpriseMarketSector R&D expenses (USD)
1Statera Biopharma, Inc.STAB🇺🇸United StatesHealthcare22,79 billion $
2Roche Holding AGRO.SW🇨🇭EuropeHealthcare10,15 billion $8,33 Bn CHF
3Novartis AGNOVN.SW🇨🇭EuropeHealthcare9,58 billion $
4Microsoft CorporationMSFT🇺🇸United StatesTechnology9,04 billion $
5Merck & Co., Inc.MRK🇺🇸United StatesHealthcare8,47 billion $
6Intel CorporationINTC🇺🇸United StatesTechnology8,35 billion $
7Volkswagen AGVOW3.DE🇩🇪GermanyConsumer Cyclical8,06 billion $7,23 Md€
8Pfizer Inc.PFE🇺🇸United StatesHealthcare8,00 billion $
9Johnson & JohnsonJNJ🇺🇸United StatesHealthcare7,55 billion $
10Samsung Electronics Co., Ltd.SSNLF🇰🇷KoreaTechnology6,80 billion $9 268 Md₩
11International Business Machines CorporationIBM🇺🇸United StatesTechnology6,26 billion $
12Nokia OyjNOKIA.HE🇫🇮EuropeTechnology6,26 billion $5,61 Md€
13Cisco Systems, Inc.CSCO🇺🇸United StatesTechnology5,82 billion $
14SanofiSAN.PA🇫🇷FranceHealthcare5,36 billion $4,81 Md€
15Alphabet Inc.GOOG🇺🇸United StatesTechnology5,16 billion $
16Eli Lilly and CompanyLLY🇺🇸United StatesHealthcare5,02 billion $
17GSK plcGSK🇬🇧United KingdomHealthcare4,92 billion $3,69 Bn£
18Mercedes-Benz Group AGMBG.DE🇩🇪GermanyConsumer Cyclical4,65 billion $4,17 Md€
19Toyota Motor CorporationTOYOF🇯🇵JapanConsumer Cyclical4,61 billion $730,34 Bn¥
20Oracle CorporationORCL🇺🇸United StatesTechnology4,52 billion $
21AstraZeneca PLCAZN🇬🇧United KingdomHealthcare4,36 billion $
22Siemens AGSIE.DE🇩🇪GermanyIndustrials4,35 billion $3,90 Md€
23Abbott LaboratoriesABT🇺🇸United StatesHealthcare4,06 billion $
24Bayerische Motoren Werke AGBMW.DE🇩🇪GermanyConsumer Cyclical4,02 billion $3,61 Md€
25The Boeing CompanyBA🇺🇸United StatesIndustrials3,92 billion $
26Bristol-Myers Squibb CompanyBMY🇺🇸United StatesHealthcare3,84 billion $
27Airbus SEEADSF🇳🇱EuropeIndustrials3,51 billion $3,15 Md€
28Telefonaktiebolaget LM Ericsson (publ)ERIC-B.ST🇸🇪EuropeTechnology3,30 billion $32,64 billion SEK
29AbbVie Inc.ABBV🇺🇸United StatesHealthcare3,29 billion $
30Bayer AGBAYN.DE🇩🇪GermanyHealthcare3,27 billion $2,93 Md€
31HP Inc.HPQ🇺🇸United StatesTechnology3,25 billion $
32Amgen Inc.AMGN🇺🇸United StatesHealthcare3,17 billion $
33Honda Motor Co., Ltd.HNDAF🇯🇵JapanConsumer Cyclical3,08 billion $487,59 Bn¥
34QUALCOMM IncorporatedQCOM🇺🇸United StatesTechnology3,00 billion $
35Amazon.com, Inc.AMZN🇺🇸United StatesConsumer Cyclical2,91 billion $
36Sony Group CorporationSONY🇯🇵JapanTechnology2,69 billion $426,81 Bn¥
37Hitachi, Ltd.HTHIF🇯🇵JapanIndustrials2,60 billion $412,51 Bn¥
38Apple Inc.AAPL🇺🇸United StatesTechnology2,43 billion $
39STMicroelectronics N.V.STM🇳🇱EuropeTechnology2,35 billion $
40Caterpillar Inc.CAT🇺🇸United StatesIndustrials2,30 billion $
41Renault S.A.RNO.PA🇫🇷FranceConsumer Cyclical2,26 billion $2,03 Md€
42SAP SESAP.DE🇩🇪GermanyTechnology2,16 billion $1,94 Md€
43Exor N.V.EXO.AS🇳🇱EuropeConsumer Cyclical2,09 billion $1,87 Md€
44RTX CorporationRTX🇺🇸United StatesIndustrials1,95 billion $
45Canon Inc.CAJPY🇯🇵JapanTechnology1,94 billion $307,80 Bn¥
46Honeywell International Inc.HON🇺🇸United StatesIndustrials1,80 billion $
47Koninklijke Philips N.V.PHIA.AS🇳🇱EuropeHealthcare1,79 billion $1,61 Md€
48Continental AGCON.DE🇩🇪GermanyConsumer Cyclical1,79 billion $1,61 Md€
49BASF SeBAS.DE🇩🇪GermanyBasic Materials1,79 billion $1,60 Md€
50Takeda Pharmaceutical Company LimitedTAK🇯🇵JapanHealthcare1,78 billion $281,88 Bn¥
51Nestlé S.A.NESN.SW🇨🇭EuropeConsumer Defensive1,73 billion $1,42 Bn CHF
52Texas Instruments IncorporatedTXN🇺🇸United StatesTechnology1,72 billion $
53NTT, Inc.NPPXF🇯🇵JapanCommunication Services1,69 billion $268,22 Bn¥
54Merck KGaAMRK.DE🇩🇪GermanyHealthcare1,69 billion $1,51 Md€
55Vale S.A.VALE🇧🇷OthersBasic Materials1,67 billion $
56DuPont de Nemours, Inc.DD🇺🇸United StatesBasic Materials1,65 billion $
573M CompanyMMM🇺🇸United StatesIndustrials1,57 billion $
58BAE Systems plcBAESY🇬🇧United KingdomIndustrials1,53 billion $1,15 Bn£
59Stellantis N.V.STLA🇳🇱EuropeConsumer Cyclical1,52 billion $1,37 Md€
60Medtronic plcMDT🇮🇪EuropeHealthcare1,51 billion $
61Petróleo Brasileiro S.A. - PetrobrasPBR🇧🇷OthersEnergy1,45 billion $
62Advanced Micro Devices, Inc.AMD🇺🇸United StatesTechnology1,45 billion $
63Novo Nordisk A/SNOVO-B.CO🇩🇰EuropeHealthcare1,44 billion $9,63 Bn DKK
64ABB LtdABBN.SW🇨🇭EuropeIndustrials1,37 billion $
65BlackBerry LimitedBB🇨🇦CanadaTechnology1,35 billion $
66AB Volvo (publ)VOLV-B.ST🇸🇪EuropeIndustrials1,34 billion $13,28 billion SEK
67ZTE CorporationZTCOF🇨🇳ChinaTechnology1,27 billion $8,49 billion CN¥
68China Railway Construction Corporation Limited601186.SS🇨🇳ChinaIndustrials1,27 billion $8,47 billion CN¥
69Hon Hai Precision Industry Co., Ltd.HNHPF🇹🇼TaiwanTechnology1,25 billion $40,85 Bn NT$
70LG Electronics Inc.066575.KS🇰🇷KoreaTechnology1,25 billion $1 699 Md₩
71eBay Inc.EBAY🇺🇸United StatesConsumer Cyclical1,24 billion $
72Gilead Sciences, Inc.GILD🇺🇸United StatesHealthcare1,23 billion $
73Daiichi Sankyo Company, LimitedDSKYF🇯🇵JapanHealthcare1,23 billion $194,33 Bn¥
74Deere & CompanyDE🇺🇸United StatesIndustrials1,23 billion $
75Biogen Inc.BIIB🇺🇸United StatesHealthcare1,22 billion $
76AT&T Inc.T🇺🇸United StatesCommunication Services1,20 billion $
77Renesas Electronics CorporationRNECF🇯🇵JapanTechnology1,15 billion $182,50 Bn¥
78Shell plcSHEL🇬🇧United KingdomEnergy1,12 billion $
79Applied Materials, Inc.AMAT🇺🇸United StatesTechnology1,12 billion $
80NEC CorporationNIPNF🇺🇸United StatesTechnology1,11 billion $176,51 Bn¥
81Teva Pharmaceutical Industries LimitedTEVA🇮🇱OthersHealthcare1,09 billion $
82Slb N.V.SLB🇺🇸United StatesEnergy1,07 billion $
83FUJIFILM Holdings CorporationFUJIF🇺🇸United StatesIndustrials1,04 billion $165,30 Bn¥
84Motorola Solutions, Inc.MSI🇺🇸United StatesTechnology1,03 billion $
85Taiwan Semiconductor Manufacturing Company LimitedTSM🇹🇼TaiwanTechnology1,03 billion $33,83 Bn NT$
86Danaher CorporationDHR🇺🇸United StatesHealthcare1,02 billion $
87Otsuka Holdings Co., Ltd.OTSKY🇺🇸United StatesHealthcare1,01 billion $159,23 Bn¥
88Baxter International Inc.BAX🇺🇸United StatesHealthcare946,0 M$
89Marvell Technology, Inc.MRVL🇺🇸United StatesTechnology897,6 M$
90Boston Scientific CorporationBSX🇺🇸United StatesHealthcare895,0 M$
91Mitsubishi Electric CorporationMIELY🇯🇵JapanIndustrials876,3 M$138,83 Bn¥
92Seagate Technology Holdings plcSTX🇮🇪EuropeTechnology875,0 M$
93UCB S.A.UCB.BR🇧🇪EuropeHealthcare869,6 M$780,0 M€
94Gen Digital Inc.GEN🇺🇸United StatesTechnology862,0 M$
95SAIC Motor Corporation Limited600104.SS🇨🇳ChinaConsumer Cyclical858,3 M$5,73 billion CN¥
96NVIDIA CorporationNVDA🇺🇸United StatesTechnology848,8 M$
97Sumitomo Chemical Company, LimitedSOMMY🇯🇵JapanBasic Materials844,8 M$133,83 Bn¥
98L'Oréal S.A.OR.PA🇫🇷FranceConsumer Defensive803,3 M$720,5 M€
99Micron Technology, Inc.MU🇺🇸United StatesTechnology791,0 M$
100Alstom S.A.ALO.PA🇫🇷FranceIndustrials783,7 M$703,0 M€
Raw data (JSON)

⚠ Ranking provided for information purposes, based on public data. It does not constitute investment advice. Values may contain source errors and change with financial publications.

Frequently Asked Questions

About this ranking

How is this 2011 ranking established?
It ranks companies by their research and development expenses for the fiscal year 2011, based on published annual accounts and data. No value is estimated: a company without this data is simply excluded.
Are the amounts comparable between countries?
Yes: amounts are converted to US dollars at the exchange rate of the calculation day, and the amount in the account currency is repeated under each value.
Is this ranking investment advice?
No. It is provided purely for informational purposes and does not constitute investment advice. Investing involves the risk of capital loss.

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