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2014 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 2014.

Share prices and capitalizations at 2026-11-05·Annual accounts for the fiscal year 2014·Calculated on 2026-11-08· 9423 companies ranked
Metric : research and development expenses for the fiscal year 2014 (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)
1Volkswagen AGVOW3.DE🇩🇪GermanyConsumer Cyclical12,87 billion $11,54 Md€
2Roche Holding AGRO.SW🇨🇭EuropeHealthcare12,06 billion $9,89 Bn CHF
3Intel CorporationINTC🇺🇸United StatesTechnology11,54 billion $
4Microsoft CorporationMSFT🇺🇸United StatesTechnology11,38 billion $
5Samsung Electronics Co., Ltd.SSNLF🇰🇷KoreaTechnology10,55 billion $14 386 Md₩
6Alphabet Inc.GOOG🇺🇸United StatesTechnology9,83 billion $
7Statera Biopharma, Inc.STAB🇺🇸United StatesHealthcare9,65 billion $
8Amazon.com, Inc.AMZN🇺🇸United StatesConsumer Cyclical9,28 billion $
9Novartis AGNOVN.SW🇨🇭EuropeHealthcare9,09 billion $
10Johnson & JohnsonJNJ🇺🇸United StatesHealthcare8,49 billion $
11Pfizer Inc.PFE🇺🇸United StatesHealthcare8,31 billion $
12Merck & Co., Inc.MRK🇺🇸United StatesHealthcare7,18 billion $
13Cisco Systems, Inc.CSCO🇺🇸United StatesTechnology6,29 billion $
14Apple Inc.AAPL🇺🇸United StatesTechnology6,04 billion $
15Toyota Motor CorporationTOYOF🇯🇵JapanConsumer Cyclical5,75 billion $910,52 Bn¥
16QUALCOMM IncorporatedQCOM🇺🇸United StatesTechnology5,48 billion $
17International Business Machines CorporationIBM🇺🇸United StatesTechnology5,44 billion $
18SanofiSAN.PA🇫🇷FranceHealthcare5,20 billion $4,67 Md€
19Oracle CorporationORCL🇺🇸United StatesTechnology5,15 billion $
20Bayerische Motoren Werke AGBMW.DE🇩🇪GermanyConsumer Cyclical5,09 billion $4,57 Md€
21Mercedes-Benz Group AGMBG.DE🇩🇪GermanyConsumer Cyclical5,05 billion $4,53 Md€
22AstraZeneca PLCAZN🇬🇧United KingdomHealthcare4,82 billion $
23Eli Lilly and CompanyLLY🇺🇸United StatesHealthcare4,73 billion $
24Siemens AGSIE.DE🇩🇪GermanyIndustrials4,48 billion $4,02 Md€
25GSK plcGSK🇬🇧United KingdomHealthcare4,45 billion $3,33 Bn£
26Amgen Inc.AMGN🇺🇸United StatesHealthcare4,30 billion $
27Bristol-Myers Squibb CompanyBMY🇺🇸United StatesHealthcare4,04 billion $
28Bayer AGBAYN.DE🇩🇪GermanyHealthcare3,94 billion $3,54 Md€
29Airbus SEEADSF🇳🇱EuropeIndustrials3,93 billion $3,53 Md€
30Honda Motor Co., Ltd.HNDAF🇯🇵JapanConsumer Cyclical3,78 billion $598,37 Bn¥
31Telefonaktiebolaget LM Ericsson (publ)ERIC-B.ST🇸🇪EuropeTechnology3,67 billion $36,31 billion SEK
32AbbVie Inc.ABBV🇺🇸United StatesHealthcare3,65 billion $
33Nissan Motor Co., Ltd.NSANY🇯🇵JapanConsumer Cyclical3,16 billion $500,60 Bn¥
34The Boeing CompanyBA🇺🇸United StatesIndustrials3,05 billion $
35Panasonic Holdings CorporationPCRFF🇯🇵JapanTechnology3,02 billion $478,82 Bn¥
36Sony Group CorporationSONY🇯🇵JapanTechnology2,94 billion $466,03 Bn¥
37Gilead Sciences, Inc.GILD🇺🇸United StatesHealthcare2,85 billion $
38Stellantis N.V.STLA🇳🇱EuropeConsumer Cyclical2,83 billion $2,54 Md€
39Nokia OyjNOKIA.HE🇫🇮EuropeTechnology2,78 billion $2,49 Md€
40Exor N.V.EXO.AS🇳🇱EuropeConsumer Cyclical2,75 billion $2,46 Md€
41Meta Platforms, Inc.META🇺🇸United StatesTechnology2,67 billion $
42SAP SESAP.DE🇩🇪GermanyTechnology2,60 billion $2,33 Md€
43DENSO CorporationDNZOY🇺🇸United StatesConsumer Cyclical2,50 billion $396,44 Bn¥
44RTX CorporationRTX🇺🇸United StatesIndustrials2,48 billion $
45Continental AGCON.DE🇩🇪GermanyConsumer Cyclical2,38 billion $2,14 Md€
46Caterpillar Inc.CAT🇺🇸United StatesIndustrials2,38 billion $
47Takeda Pharmaceutical Company LimitedTAK🇯🇵JapanHealthcare2,32 billion $367,74 Bn¥
48Hewlett Packard Enterprise CompanyHPE🇺🇸United StatesTechnology2,20 billion $
49Hitachi, Ltd.HTHIF🇯🇵JapanIndustrials2,11 billion $334,81 Bn¥
50BASF SeBAS.DE🇩🇪GermanyBasic Materials2,10 billion $1,88 Md€
51Novo Nordisk A/SNOVO-B.CO🇩🇰EuropeHealthcare2,05 billion $13,76 Bn DKK
52Nestlé S.A.NESN.SW🇨🇭EuropeConsumer Defensive1,98 billion $1,63 Bn CHF
53PetroChina Company LimitedPCCYF🇺🇸United StatesEnergy1,96 billion $13,09 billion CN¥
54Canon Inc.CAJPY🇯🇵JapanTechnology1,95 billion $308,98 Bn¥
55Merck KGaAMRK.DE🇩🇪GermanyHealthcare1,90 billion $1,70 Md€
56Biogen Inc.BIIB🇺🇸United StatesHealthcare1,89 billion $
57Honeywell International Inc.HON🇺🇸United StatesIndustrials1,89 billion $
58Koninklijke Philips N.V.PHIA.AS🇳🇱EuropeHealthcare1,82 billion $1,64 Md€
59BAE Systems plcBAESY🇬🇧United KingdomIndustrials1,79 billion $1,34 Bn£
603M CompanyMMM🇺🇸United StatesIndustrials1,77 billion $
61Leonardo S.p.A.LDO.MI🇮🇹EuropeIndustrials1,75 billion $1,57 Md€
62Taiwan Semiconductor Manufacturing Company LimitedTSM🇹🇼TaiwanTechnology1,73 billion $56,83 Bn NT$
63AT&T Inc.T🇺🇸United StatesCommunication Services1,73 billion $
64AB Volvo (publ)VOLV-B.ST🇸🇪EuropeIndustrials1,68 billion $16,66 billion SEK
65Western Digital CorporationWDC🇺🇸United StatesTechnology1,66 billion $
66DuPont de Nemours, Inc.DD🇺🇸United StatesBasic Materials1,65 billion $
67Otsuka Holdings Co., Ltd.OTSKY🇺🇸United StatesHealthcare1,62 billion $255,91 Bn¥
68Safran S.A.SAF.PA🇫🇷FranceIndustrials1,59 billion $1,42 Md€
69NTT, Inc.NPPXF🇯🇵JapanCommunication Services1,57 billion $249,29 Bn¥
70Micron Technology, Inc.MU🇺🇸United StatesTechnology1,53 billion $
71ABB LtdABBN.SW🇨🇭EuropeIndustrials1,50 billion $
72Hon Hai Precision Industry Co., Ltd.HNHPF🇹🇼TaiwanTechnology1,49 billion $48,85 Bn NT$
73Teva Pharmaceutical Industries LimitedTEVA🇮🇱OthersHealthcare1,49 billion $
74Medtronic plcMDT🇮🇪EuropeHealthcare1,48 billion $
75ZTE CorporationZTCOF🇨🇳ChinaTechnology1,46 billion $9,75 billion CN¥
76China Railway Group LimitedCRWOF🇨🇳ChinaIndustrials1,46 billion $9,71 billion CN¥
77Deere & CompanyDE🇺🇸United StatesIndustrials1,45 billion $
78Applied Materials, Inc.AMAT🇺🇸United StatesTechnology1,43 billion $
79Fujitsu LimitedFJTSF🇯🇵JapanTechnology1,40 billion $221,39 Bn¥
80Texas Instruments IncorporatedTXN🇺🇸United StatesTechnology1,36 billion $
81NVIDIA CorporationNVDA🇺🇸United StatesTechnology1,34 billion $
82MediaTek Inc.2454.TW🇹🇼TaiwanTechnology1,32 billion $43,34 Bn NT$
83Danaher CorporationDHR🇺🇸United StatesHealthcare1,31 billion $
84China Railway Construction Corporation Limited601186.SS🇨🇳ChinaIndustrials1,30 billion $8,68 billion CN¥
85HP Inc.HPQ🇺🇸United StatesTechnology1,30 billion $
86BlackBerry LimitedBB🇨🇦CanadaTechnology1,29 billion $
87Abbott LaboratoriesABT🇺🇸United StatesHealthcare1,29 billion $
88Dell Technologies Inc.DELL🇺🇸United StatesTechnology1,27 billion $
89CRRC Corporation Limited601766.SS🇨🇳ChinaIndustrials1,25 billion $8,31 billion CN¥
90Seagate Technology Holdings plcSTX🇮🇪EuropeTechnology1,23 billion $
91Shell plcSHEL🇬🇧United KingdomEnergy1,22 billion $
92Regeneron Pharmaceuticals, Inc.REGN🇺🇸United StatesHealthcare1,22 billion $
93Slb N.V.SLB🇺🇸United StatesEnergy1,22 billion $
94Astellas Pharma Inc.ALPMY🇯🇵JapanHealthcare1,21 billion $191,50 Bn¥
95Daiichi Sankyo Company, LimitedDSKYF🇯🇵JapanHealthcare1,20 billion $190,70 Bn¥
96ASML Holding N.V.ASML.AS🇳🇱EuropeTechnology1,18 billion $1,05 Md€
97Renault S.A.RNO.PA🇫🇷FranceConsumer Cyclical1,17 billion $1,05 Md€
98STMicroelectronics N.V.STM🇳🇱EuropeTechnology1,16 billion $
99Marvell Technology, Inc.MRVL🇺🇸United StatesTechnology1,15 billion $
100Valeo SEFR.PA🇫🇷FranceConsumer Cyclical1,14 billion $1,02 Md€
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 2014 ranking established?
It ranks companies by their research and development expenses for the fiscal year 2014, 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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