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2020 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 2020.

Share prices and capitalizations at 2026-11-05·Annual accounts for the fiscal year 2020·Calculated on 2026-11-08· 14892 companies ranked
Metric : research and development expenses for the fiscal year 2020 (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)
1Amazon.com, Inc.AMZN🇺🇸United StatesConsumer Cyclical42,74 billion $
2Alphabet Inc.GOOG🇺🇸United StatesTechnology27,57 billion $
3Microsoft CorporationMSFT🇺🇸United StatesTechnology19,27 billion $
4Apple Inc.AAPL🇺🇸United StatesTechnology18,75 billion $
5Meta Platforms, Inc.META🇺🇸United StatesTechnology18,45 billion $
6Samsung Electronics Co., Ltd.SSNLF🇰🇷KoreaTechnology15,48 billion $21 111 Md₩
7Roche Holding AGRO.SW🇨🇭EuropeHealthcare14,81 billion $12,15 Bn CHF
8Intel CorporationINTC🇺🇸United StatesTechnology13,56 billion $
9Volkswagen AGVOW3.DE🇩🇪GermanyConsumer Cyclical13,44 billion $12,06 Md€
10Merck & Co., Inc.MRK🇺🇸United StatesHealthcare13,40 billion $
11Johnson & JohnsonJNJ🇺🇸United StatesHealthcare12,34 billion $
12Bristol-Myers Squibb CompanyBMY🇺🇸United StatesHealthcare9,56 billion $
13Pfizer Inc.PFE🇺🇸United StatesHealthcare9,39 billion $
14Novartis AGNOVN.SW🇨🇭EuropeHealthcare8,98 billion $
15Bayer AGBAYN.DE🇩🇪GermanyHealthcare7,94 billion $7,13 Md€
16AbbVie Inc.ABBV🇺🇸United StatesHealthcare7,75 billion $
17Toyota Motor CorporationTOYOF🇯🇵JapanConsumer Cyclical7,01 billion $1 110 Bn¥
18Bayerische Motoren Werke AGBMW.DE🇩🇪GermanyConsumer Cyclical7,00 billion $6,28 Md€
19AstraZeneca PLCAZN🇬🇧United KingdomHealthcare6,46 billion $
20Alibaba Group Holding LimitedBABAF🇨🇳ChinaConsumer Cyclical6,46 billion $43,08 billion CN¥
21Cisco Systems, Inc.CSCO🇺🇸United StatesTechnology6,35 billion $
22International Business Machines CorporationIBM🇺🇸United StatesTechnology6,26 billion $
23SanofiSAN.PA🇫🇷FranceHealthcare6,17 billion $5,53 Md€
24Oracle CorporationORCL🇺🇸United StatesTechnology6,07 billion $
25GSK plcGSK🇬🇧United KingdomHealthcare5,98 billion $4,48 Bn£
26Eli Lilly and CompanyLLY🇺🇸United StatesHealthcare5,98 billion $
27QUALCOMM IncorporatedQCOM🇺🇸United StatesTechnology5,97 billion $
28Tencent Holdings LimitedTCEHY🇨🇳ChinaCommunication Services5,84 billion $38,97 billion CN¥
29Mercedes-Benz Group AGMBG.DE🇩🇪GermanyConsumer Cyclical5,39 billion $4,84 Md€
30Siemens AGSIE.DE🇩🇪GermanyIndustrials5,09 billion $4,57 Md€
31Honda Motor Co., Ltd.HNDAF🇯🇵JapanConsumer Cyclical5,08 billion $804,12 Bn¥
32Gilead Sciences, Inc.GILD🇺🇸United StatesHealthcare5,04 billion $
33Broadcom Inc.AVGO🇺🇸United StatesTechnology4,97 billion $
34SAP SESAP.DE🇩🇪GermanyTechnology4,97 billion $4,45 Md€
35Nokia OyjNOKIA.HE🇫🇮EuropeTechnology4,56 billion $4,09 Md€
36Biogen Inc.BIIB🇺🇸United StatesHealthcare4,53 billion $
37Amgen Inc.AMGN🇺🇸United StatesHealthcare4,21 billion $
38Telefonaktiebolaget LM Ericsson (publ)ERIC-B.ST🇸🇪EuropeTechnology4,02 billion $39,71 billion SEK
39China State Construction Engineering Corporation Limited601668.SS🇨🇳ChinaIndustrials3,83 billion $25,52 billion CN¥
40Continental AGCON.DE🇩🇪GermanyConsumer Cyclical3,77 billion $3,38 Md€
41Airbus SEEADSF🇳🇱EuropeIndustrials3,43 billion $3,08 Md€
42Taiwan Semiconductor Manufacturing Company LimitedTSM🇹🇼TaiwanTechnology3,34 billion $109,49 Bn NT$
43Stellantis N.V.STLA🇳🇱EuropeConsumer Cyclical3,32 billion $2,98 Md€
44Exor N.V.EXO.AS🇳🇱EuropeConsumer Cyclical3,31 billion $2,97 Md€
45China Railway Group LimitedCRWOF🇨🇳ChinaIndustrials3,27 billion $21,84 billion CN¥
46Panasonic Holdings CorporationPCRFF🇯🇵JapanTechnology3,24 billion $513,70 Bn¥
47DENSO CorporationDNZOY🇺🇸United StatesConsumer Cyclical3,21 billion $507,83 Bn¥
48Sony Group CorporationSONY🇯🇵JapanTechnology3,15 billion $499,29 Bn¥
49China Communications Construction Company Limited601800.SS🇨🇳ChinaIndustrials3,01 billion $20,09 billion CN¥
50Baidu, Inc.BAIDF🇨🇳ChinaCommunication Services2,92 billion $19,51 billion CN¥
51Takeda Pharmaceutical Company LimitedTAK🇯🇵JapanHealthcare2,88 billion $455,76 Bn¥
52Hon Hai Precision Industry Co., Ltd.HNHPF🇹🇼TaiwanTechnology2,87 billion $94,11 Bn NT$
53Renault S.A.RNO.PA🇫🇷FranceConsumer Cyclical2,86 billion $2,57 Md€
54NVIDIA CorporationNVDA🇺🇸United StatesTechnology2,83 billion $
55China Railway Construction Corporation Limited601186.SS🇨🇳ChinaIndustrials2,79 billion $18,61 billion CN¥
56Salesforce, Inc.CRM🇺🇸United StatesTechnology2,77 billion $
57Airbnb, Inc.ABNB🇺🇸United StatesConsumer Cyclical2,75 billion $
58PayPal Holdings, Inc.PYPL🇺🇸United StatesFinancial Services2,64 billion $
59Micron Technology, Inc.MU🇺🇸United StatesTechnology2,60 billion $
60RTX CorporationRTX🇺🇸United StatesIndustrials2,58 billion $
61GE AerospaceGE🇺🇸United StatesIndustrials2,56 billion $
62Merck KGaAMRK.DE🇩🇪GermanyHealthcare2,55 billion $2,29 Md€
63Regeneron Pharmaceuticals, Inc.REGN🇺🇸United StatesHealthcare2,50 billion $
64The Boeing CompanyBA🇺🇸United StatesIndustrials2,48 billion $
65ActiveOps PlcAOM.L🇬🇧United KingdomTechnology2,45 billion $1,84 Bn£
66Dell Technologies Inc.DELL🇺🇸United StatesTechnology2,45 billion $
67JD.com, Inc.JDCMF🇨🇳ChinaConsumer Cyclical2,42 billion $16,15 billion CN¥
68Abbott LaboratoriesABT🇺🇸United StatesHealthcare2,42 billion $
69PetroChina Company LimitedPCCYF🇺🇸United StatesEnergy2,36 billion $15,75 billion CN¥
70MediaTek Inc.2454.TW🇹🇼TaiwanTechnology2,36 billion $77,32 Bn NT$
71Medtronic plcMDT🇮🇪EuropeHealthcare2,33 billion $
72BASF SeBAS.DE🇩🇪GermanyBasic Materials2,33 billion $2,09 Md€
73ASML Holding N.V.ASML.AS🇳🇱EuropeTechnology2,31 billion $2,07 Md€
74Novo Nordisk A/SNOVO-B.CO🇩🇰EuropeHealthcare2,31 billion $15,46 Bn DKK
75Power Construction Corporation of China, Ltd601669.SS🇨🇳ChinaIndustrials2,29 billion $15,27 billion CN¥
76SK hynix Inc.000660.KS🇰🇷KoreaTechnology2,28 billion $3 111 Md₩
77Western Digital CorporationWDC🇺🇸United StatesTechnology2,26 billion $
78Applied Materials, Inc.AMAT🇺🇸United StatesTechnology2,23 billion $
79Porsche AG VzP911.DE🇩🇪GermanyConsumer Cyclical2,22 billion $1,99 Md€
80ZTE CorporationZTCOF🇨🇳ChinaTechnology2,22 billion $14,80 billion CN¥
81Incyte CorporationINCY🇺🇸United StatesHealthcare2,22 billion $
82Uber Technologies, Inc.UBER🇺🇸United StatesTechnology2,21 billion $
83Adobe Inc.ADBE🇺🇸United StatesTechnology2,19 billion $
84Koninklijke Philips N.V.PHIA.AS🇳🇱EuropeHealthcare2,13 billion $1,92 Md€
85SAIC Motor Corporation Limited600104.SS🇨🇳ChinaConsumer Cyclical2,01 billion $13,40 billion CN¥
86CRRC Corporation Limited601766.SS🇨🇳ChinaIndustrials2,00 billion $13,35 billion CN¥
87Advanced Micro Devices, Inc.AMD🇺🇸United StatesTechnology1,98 billion $
88Nestlé S.A.NESN.SW🇨🇭EuropeConsumer Defensive1,92 billion $1,58 Bn CHF
89Hewlett Packard Enterprise CompanyHPE🇺🇸United StatesTechnology1,87 billion $
903M CompanyMMM🇺🇸United StatesIndustrials1,86 billion $
91Hitachi, Ltd.HTHIF🇯🇵JapanIndustrials1,85 billion $293,57 Bn¥
92Metallurgical Corporation of China Ltd.MLLUY🇨🇳ChinaIndustrials1,85 billion $12,33 billion CN¥
93Netflix, Inc.NFLX🇺🇸United StatesCommunication Services1,83 billion $
94Vertex Pharmaceuticals IncorporatedVRTX🇺🇸United StatesHealthcare1,83 billion $
95UCB S.A.UCB.BR🇧🇪EuropeHealthcare1,75 billion $1,57 Md€
96NXP Semiconductors N.V.NXPI🇳🇱EuropeTechnology1,73 billion $
97Canon Inc.CAJPY🇯🇵JapanTechnology1,72 billion $272,31 Bn¥
98AB Volvo (publ)VOLV-B.ST🇸🇪EuropeIndustrials1,70 billion $16,80 billion SEK
99Deere & CompanyDE🇺🇸United StatesIndustrials1,64 billion $
100MeituanMPNGY🇨🇳ChinaConsumer Cyclical1,63 billion $10,89 billion CN¥
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 2020 ranking established?
It ranks companies by their research and development expenses for the fiscal year 2020, 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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