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2022 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 2022.

Share prices and capitalizations at 2026-11-05·Annual accounts for the fiscal year 2022·Calculated on 2026-11-08· 15605 companies ranked
Metric : research and development expenses for the fiscal year 2022 (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 Cyclical73,21 billion $
2Alphabet Inc.GOOG🇺🇸United StatesTechnology39,50 billion $
3Meta Platforms, Inc.META🇺🇸United StatesTechnology35,34 billion $
4Apple Inc.AAPL🇺🇸United StatesTechnology26,25 billion $
5Microsoft CorporationMSFT🇺🇸United StatesTechnology24,51 billion $
6Roche Holding AGRO.SW🇨🇭EuropeHealthcare18,55 billion $15,22 Bn CHF
7Samsung Electronics Co., Ltd.SSNLF🇰🇷KoreaTechnology18,27 billion $24 919 Md₩
8Intel CorporationINTC🇺🇸United StatesTechnology17,53 billion $
9Volkswagen AGVOW3.DE🇩🇪GermanyConsumer Cyclical15,97 billion $14,33 Md€
10Johnson & JohnsonJNJ🇺🇸United StatesHealthcare14,13 billion $
11Merck & Co., Inc.MRK🇺🇸United StatesHealthcare13,55 billion $
12Pfizer Inc.PFE🇺🇸United StatesHealthcare11,43 billion $
13AstraZeneca PLCAZN🇬🇧United KingdomHealthcare9,62 billion $
14Bristol-Myers Squibb CompanyBMY🇺🇸United StatesHealthcare9,41 billion $
15Tencent Holdings LimitedTCEHY🇨🇳ChinaCommunication Services9,20 billion $61,40 billion CN¥
16Novartis AGNOVN.SW🇨🇭EuropeHealthcare9,17 billion $
17Alibaba Group Holding LimitedBABAF🇨🇳ChinaConsumer Cyclical8,31 billion $55,47 billion CN¥
18QUALCOMM IncorporatedQCOM🇺🇸United StatesTechnology8,19 billion $
19China State Construction Engineering Corporation Limited601668.SS🇨🇳ChinaIndustrials7,46 billion $49,75 billion CN¥
20Bayerische Motoren Werke AGBMW.DE🇩🇪GermanyConsumer Cyclical7,38 billion $6,62 Md€
21Bayer AGBAYN.DE🇩🇪GermanyHealthcare7,33 billion $6,57 Md€
22SanofiSAN.PA🇫🇷FranceHealthcare7,25 billion $6,50 Md€
23Oracle CorporationORCL🇺🇸United StatesTechnology7,22 billion $
24Eli Lilly and CompanyLLY🇺🇸United StatesHealthcare7,19 billion $
25Toyota Motor CorporationTOYOF🇯🇵JapanConsumer Cyclical7,10 billion $1 124 Bn¥
26SAP SESAP.DE🇩🇪GermanyTechnology6,78 billion $6,08 Md€
27Cisco Systems, Inc.CSCO🇺🇸United StatesTechnology6,77 billion $
28International Business Machines CorporationIBM🇺🇸United StatesTechnology6,57 billion $
29AbbVie Inc.ABBV🇺🇸United StatesHealthcare6,51 billion $
30GSK plcGSK🇬🇧United KingdomHealthcare6,46 billion $4,84 Bn£
31Mercedes-Benz Group AGMBG.DE🇩🇪GermanyConsumer Cyclical6,25 billion $5,60 Md€
32Siemens AGSIE.DE🇩🇪GermanyIndustrials6,23 billion $5,59 Md€
33Stellantis N.V.STLA🇳🇱EuropeConsumer Cyclical5,80 billion $5,20 Md€
34NVIDIA CorporationNVDA🇺🇸United StatesTechnology5,27 billion $
35Nokia OyjNOKIA.HE🇫🇮EuropeTechnology5,07 billion $4,55 Md€
36Advanced Micro Devices, Inc.AMD🇺🇸United StatesTechnology5,00 billion $
37Taiwan Semiconductor Manufacturing Company LimitedTSM🇹🇼TaiwanTechnology4,98 billion $163,26 Bn NT$
38Gilead Sciences, Inc.GILD🇺🇸United StatesHealthcare4,98 billion $
39Honda Motor Co., Ltd.HNDAF🇯🇵JapanConsumer Cyclical4,97 billion $787,06 Bn¥
40Broadcom Inc.AVGO🇺🇸United StatesTechnology4,92 billion $
41Telefonaktiebolaget LM Ericsson (publ)ERIC-B.ST🇸🇪EuropeTechnology4,78 billion $47,30 billion SEK
42Continental AGCON.DE🇩🇪GermanyConsumer Cyclical4,64 billion $4,17 Md€
43Salesforce, Inc.CRM🇺🇸United StatesTechnology4,46 billion $
44Amgen Inc.AMGN🇺🇸United StatesHealthcare4,43 billion $
45China Railway Group LimitedCRWOF🇨🇳ChinaIndustrials4,17 billion $27,81 billion CN¥
46Takeda Pharmaceutical Company LimitedTAK🇯🇵JapanHealthcare4,00 billion $633,33 Bn¥
47Sony Group CorporationSONY🇯🇵JapanTechnology3,90 billion $618,37 Bn¥
48China Railway Construction Corporation Limited601186.SS🇨🇳ChinaIndustrials3,75 billion $25,00 billion CN¥
49Novo Nordisk A/SNOVO-B.CO🇩🇰EuropeHealthcare3,58 billion $24,05 Bn DKK
50MediaTek Inc.2454.TW🇹🇼TaiwanTechnology3,57 billion $116,87 Bn NT$
51Airbus SEEADSF🇳🇱EuropeIndustrials3,56 billion $3,19 Md€
52China Communications Construction Company Limited601800.SS🇨🇳ChinaIndustrials3,52 billion $23,47 billion CN¥
53Baidu, Inc.BAIDF🇨🇳ChinaCommunication Services3,49 billion $23,32 billion CN¥
54Hon Hai Precision Industry Co., Ltd.HNHPF🇹🇼TaiwanTechnology3,49 billion $114,26 Bn NT$
55ASML Holding N.V.ASML.AS🇳🇱EuropeTechnology3,42 billion $3,07 Md€
56Moderna, Inc.MRNA🇺🇸United StatesHealthcare3,29 billion $
57SK hynix Inc.000660.KS🇰🇷KoreaTechnology3,28 billion $4 475 Md₩
58PayPal Holdings, Inc.PYPL🇺🇸United StatesFinancial Services3,25 billion $
59ZTE CorporationZTCOF🇨🇳ChinaTechnology3,24 billion $21,60 billion CN¥
60DENSO CorporationDNZOY🇺🇸United StatesConsumer Cyclical3,14 billion $497,56 Bn¥
61Power Construction Corporation of China, Ltd601669.SS🇨🇳ChinaIndustrials3,12 billion $20,80 billion CN¥
62Micron Technology, Inc.MU🇺🇸United StatesTechnology3,12 billion $
63MeituanMPNGY🇨🇳ChinaConsumer Cyclical3,11 billion $20,74 billion CN¥
64Tesla, Inc.TSLA🇺🇸United StatesConsumer Cyclical3,08 billion $
65Regeneron Pharmaceuticals, Inc.REGN🇺🇸United StatesHealthcare3,06 billion $
66PetroChina Company LimitedPCCYF🇺🇸United StatesEnergy3,00 billion $20,02 billion CN¥
67Adobe Inc.ADBE🇺🇸United StatesTechnology2,99 billion $
68Panasonic Holdings CorporationPCRFF🇯🇵JapanTechnology2,85 billion $451,92 Bn¥
69Abbott LaboratoriesABT🇺🇸United StatesHealthcare2,85 billion $
70The Boeing CompanyBA🇺🇸United StatesIndustrials2,85 billion $
71Metallurgical Corporation of China Ltd.MLLUY🇨🇳ChinaIndustrials2,81 billion $18,73 billion CN¥
72Uber Technologies, Inc.UBER🇺🇸United StatesTechnology2,80 billion $
73BYD Company LimitedBYDDF🇨🇳ChinaConsumer Cyclical2,80 billion $18,65 billion CN¥
74Applied Materials, Inc.AMAT🇺🇸United StatesTechnology2,77 billion $
75Medtronic plcMDT🇮🇪EuropeHealthcare2,75 billion $
76Merck KGaAMRK.DE🇩🇪GermanyHealthcare2,73 billion $2,45 Md€
77China Mobile Limited600941.SS🇭🇰Hong KongCommunication Services2,71 billion $18,09 billion CN¥
78Netflix, Inc.NFLX🇺🇸United StatesCommunication Services2,71 billion $
79RTX CorporationRTX🇺🇸United StatesIndustrials2,71 billion $
80SAIC Motor Corporation Limited600104.SS🇨🇳ChinaConsumer Cyclical2,70 billion $18,04 billion CN¥
81Vertex Pharmaceuticals IncorporatedVRTX🇺🇸United StatesHealthcare2,66 billion $
82Biogen Inc.BIIB🇺🇸United StatesHealthcare2,60 billion $
83Dell Technologies Inc.DELL🇺🇸United StatesTechnology2,58 billion $
84BASF SeBAS.DE🇩🇪GermanyBasic Materials2,56 billion $2,30 Md€
85JD.com, Inc.JDCMF🇨🇳ChinaConsumer Cyclical2,53 billion $16,89 billion CN¥
86Porsche AG VzP911.DE🇩🇪GermanyConsumer Cyclical2,43 billion $2,18 Md€
87Xiaomi CorporationXIACY🇺🇸United StatesTechnology2,40 billion $16,03 billion CN¥
88Renault S.A.RNO.PA🇫🇷FranceConsumer Cyclical2,37 billion $2,12 Md€
89Intuit Inc.INTU🇺🇸United StatesTechnology2,35 billion $
90Koninklijke Philips N.V.PHIA.AS🇳🇱EuropeHealthcare2,34 billion $2,10 Md€
91Exor N.V.EXO.AS🇳🇱EuropeConsumer Cyclical2,33 billion $2,09 Md€
92Coinbase Global, Inc.COIN🇺🇸United StatesFinancial Services2,33 billion $
93Contemporary Amperex Technology Co., LimitedCYATY🇨🇳ChinaIndustrials2,33 billion $15,51 billion CN¥
94Western Digital CorporationWDC🇺🇸United StatesTechnology2,32 billion $
95AB Volvo (publ)VOLV-B.ST🇸🇪EuropeIndustrials2,28 billion $22,53 billion SEK
96NetEase, Inc.NETTF🇨🇳ChinaTechnology2,25 billion $15,04 billion CN¥
97Leonardo S.p.A.LDO.MI🇮🇹EuropeIndustrials2,23 billion $2,00 Md€
98NXP Semiconductors N.V.NXPI🇳🇱EuropeTechnology2,15 billion $
99Block, Inc.XYZ🇺🇸United StatesTechnology2,14 billion $
100Infineon Technologies AGIFX.DE🇩🇪GermanyTechnology2,12 billion $1,90 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 2022 ranking established?
It ranks companies by their research and development expenses for the fiscal year 2022, 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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