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2024 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 2024.

Share prices and capitalizations at 2026-11-05·Annual accounts for the fiscal year 2024·Calculated on 2026-11-08· 13826 companies ranked
Metric : research and development expenses for the fiscal year 2024 (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)
1Kraig Biocraft Laboratories, Inc.KBLB🇺🇸United StatesBasic Materials164,37 billion $
2Amazon.com, Inc.AMZN🇺🇸United StatesConsumer Cyclical88,54 billion $
3Alphabet Inc.GOOG🇺🇸United StatesTechnology49,33 billion $
4Meta Platforms, Inc.META🇺🇸United StatesTechnology43,87 billion $
5Apple Inc.AAPL🇺🇸United StatesTechnology31,37 billion $
6Microsoft CorporationMSFT🇺🇸United StatesTechnology29,51 billion $
7Samsung Electronics Co., Ltd.SSNLF🇰🇷KoreaTechnology25,67 billion $34 998 Md₩
8Volkswagen AGVOW3.DE🇩🇪GermanyConsumer Cyclical20,03 billion $17,96 Md€
9Roche Holding AGRO.SW🇨🇭EuropeHealthcare18,65 billion $15,30 Bn CHF
10Merck & Co., Inc.MRK🇺🇸United StatesHealthcare17,94 billion $
11Johnson & JohnsonJNJ🇺🇸United StatesHealthcare17,23 billion $
12Intel CorporationINTC🇺🇸United StatesTechnology16,55 billion $
13AbbVie Inc.ABBV🇺🇸United StatesHealthcare12,79 billion $
14AstraZeneca PLCAZN🇬🇧United KingdomHealthcare11,96 billion $
15Eli Lilly and CompanyLLY🇺🇸United StatesHealthcare10,99 billion $
16Pfizer Inc.PFE🇺🇸United StatesHealthcare10,74 billion $
17Tencent Holdings LimitedTCEHY🇨🇳ChinaCommunication Services10,60 billion $70,69 billion CN¥
18Novartis AGNOVN.SW🇨🇭EuropeHealthcare10,02 billion $
19Bristol-Myers Squibb CompanyBMY🇺🇸United StatesHealthcare9,78 billion $
20Broadcom Inc.AVGO🇺🇸United StatesTechnology9,31 billion $
21Oracle CorporationORCL🇺🇸United StatesTechnology8,91 billion $
22QUALCOMM IncorporatedQCOM🇺🇸United StatesTechnology8,89 billion $
23NVIDIA CorporationNVDA🇺🇸United StatesTechnology8,68 billion $
24Bayerische Motoren Werke AGBMW.DE🇩🇪GermanyConsumer Cyclical8,52 billion $7,64 Md€
25SanofiSAN.PA🇫🇷FranceHealthcare8,24 billion $7,39 Md€
26Cisco Systems, Inc.CSCO🇺🇸United StatesTechnology7,98 billion $
27BYD Company LimitedBYDDF🇨🇳ChinaConsumer Cyclical7,97 billion $53,19 billion CN¥
28Alibaba Group Holding LimitedBABAF🇨🇳ChinaConsumer Cyclical7,83 billion $52,26 billion CN¥
29Toyota Motor CorporationTOYOF🇯🇵JapanConsumer Cyclical7,59 billion $1 202 Bn¥
30International Business Machines CorporationIBM🇺🇸United StatesTechnology7,48 billion $
31GSK plcGSK🇬🇧United KingdomHealthcare7,34 billion $5,50 Bn£
32SAP SESAP.DE🇩🇪GermanyTechnology7,26 billion $6,51 Md€
33Novo Nordisk A/SNOVO-B.CO🇩🇰EuropeHealthcare7,17 billion $48,06 Bn DKK
34Siemens AGSIE.DE🇩🇪GermanyIndustrials7,00 billion $6,28 Md€
35Bayer AGBAYN.DE🇩🇪GermanyHealthcare6,92 billion $6,21 Md€
36China State Construction Engineering Corporation Limited601668.SS🇨🇳ChinaIndustrials6,81 billion $45,46 billion CN¥
37Advanced Micro Devices, Inc.AMD🇺🇸United StatesTechnology6,46 billion $
38Taiwan Semiconductor Manufacturing Company LimitedTSM🇹🇼TaiwanTechnology6,23 billion $204,18 Bn NT$
39Mercedes-Benz Group AGMBG.DE🇩🇪GermanyConsumer Cyclical6,22 billion $5,58 Md€
40Amgen Inc.AMGN🇺🇸United StatesHealthcare5,96 billion $
41Gilead Sciences, Inc.GILD🇺🇸United StatesHealthcare5,91 billion $
42Honda Motor Co., Ltd.HNDAF🇯🇵JapanConsumer Cyclical5,83 billion $923,63 Bn¥
43Virpax Pharmaceuticals, Inc.VRPX🇺🇸United StatesHealthcare5,82 billion $
44Regeneron Pharmaceuticals, Inc.REGN🇺🇸United StatesHealthcare5,23 billion $
45Telefonaktiebolaget LM Ericsson (publ)ERIC-B.ST🇸🇪EuropeTechnology5,20 billion $51,40 billion SEK
46Nokia OyjNOKIA.HE🇫🇮EuropeTechnology5,03 billion $4,51 Md€
47Salesforce, Inc.CRM🇺🇸United StatesTechnology4,91 billion $
48Azitra, Inc.AZTR🇺🇸United StatesHealthcare4,72 billion $
49Sony Group CorporationSONY🇯🇵JapanTechnology4,69 billion $742,77 Bn¥
50Takeda Pharmaceutical Company LimitedTAK🇯🇵JapanHealthcare4,61 billion $730,23 Bn¥
51Continental AGCON.DE🇩🇪GermanyConsumer Cyclical4,57 billion $4,10 Md€
52Moderna, Inc.MRNA🇺🇸United StatesHealthcare4,54 billion $
53Tesla, Inc.TSLA🇺🇸United StatesConsumer Cyclical4,54 billion $
54ASML Holding N.V.ASML.AS🇳🇱EuropeTechnology4,40 billion $3,94 Md€
55Airbus SEEADSF🇳🇱EuropeIndustrials4,24 billion $3,81 Md€
56China Mobile Limited600941.SS🇭🇰Hong KongCommunication Services4,22 billion $28,16 billion CN¥
57MediaTek Inc.2454.TW🇹🇼TaiwanTechnology4,03 billion $131,99 Bn NT$
58China Railway Group LimitedCRWOF🇨🇳ChinaIndustrials3,99 billion $26,63 billion CN¥
59Adobe Inc.ADBE🇺🇸United StatesTechnology3,94 billion $
60China Communications Construction Company Limited601800.SS🇨🇳ChinaIndustrials3,90 billion $26,00 billion CN¥
61China Railway Construction Corporation Limited601186.SS🇨🇳ChinaIndustrials3,85 billion $25,71 billion CN¥
62The Boeing CompanyBA🇺🇸United StatesIndustrials3,81 billion $
63Power Construction Corporation of China, Ltd601669.SS🇨🇳ChinaIndustrials3,64 billion $24,25 billion CN¥
64Vertex Pharmaceuticals IncorporatedVRTX🇺🇸United StatesHealthcare3,63 billion $
65Xiaomi CorporationXIACY🇺🇸United StatesTechnology3,61 billion $24,05 billion CN¥
66ZTE CorporationZTCOF🇨🇳ChinaTechnology3,60 billion $24,03 billion CN¥
67Hon Hai Precision Industry Co., Ltd.HNHPF🇹🇼TaiwanTechnology3,53 billion $115,77 Bn NT$
68CITIC LimitedCTPCF🇭🇰Hong KongIndustrials3,49 billion $27,32 HK$ Bn
69DENSO CorporationDNZOY🇺🇸United StatesConsumer Cyclical3,48 billion $550,92 Bn¥
70PetroChina Company LimitedPCCYF🇺🇸United StatesEnergy3,45 billion $23,01 billion CN¥
71Micron Technology, Inc.MU🇺🇸United StatesTechnology3,43 billion $
72Panasonic Holdings CorporationPCRFF🇯🇵JapanTechnology3,35 billion $531,23 Bn¥
73Porsche AG VzP911.DE🇩🇪GermanyConsumer Cyclical3,33 billion $2,99 Md€
74Baidu, Inc.BAIDF🇨🇳ChinaCommunication Services3,32 billion $22,13 billion CN¥
75SK hynix Inc.000660.KS🇰🇷KoreaTechnology3,25 billion $4 436 Md₩
76Applied Materials, Inc.AMAT🇺🇸United StatesTechnology3,23 billion $
77MeituanMPNGY🇨🇳ChinaConsumer Cyclical3,16 billion $21,05 billion CN¥
78AB Volvo (publ)VOLV-B.ST🇸🇪EuropeIndustrials3,13 billion $30,96 billion SEK
79Uber Technologies, Inc.UBER🇺🇸United StatesTechnology3,11 billion $
80PayPal Holdings, Inc.PYPL🇺🇸United StatesFinancial Services2,98 billion $
81RTX CorporationRTX🇺🇸United StatesIndustrials2,93 billion $
82Netflix, Inc.NFLX🇺🇸United StatesCommunication Services2,93 billion $
83Block, Inc.XYZ🇺🇸United StatesTechnology2,91 billion $
84Abbott LaboratoriesABT🇺🇸United StatesHealthcare2,82 billion $
85Contemporary Amperex Technology Co., LimitedCYATY🇨🇳ChinaIndustrials2,80 billion $18,70 billion CN¥
86Dell Technologies Inc.DELL🇺🇸United StatesTechnology2,80 billion $
87SoftBank Group Corp.SFTBF🇯🇵JapanCommunication Services2,78 billion $439,97 Bn¥
88Intuit Inc.INTU🇺🇸United StatesTechnology2,75 billion $
89Medtronic plcMDT🇮🇪EuropeHealthcare2,73 billion $
90SAIC Motor Corporation Limited600104.SS🇨🇳ChinaConsumer Cyclical2,67 billion $17,83 billion CN¥
91NetEase, Inc.NETTF🇨🇳ChinaTechnology2,63 billion $17,52 billion CN¥
92Incyte CorporationINCY🇺🇸United StatesHealthcare2,61 billion $
93JD.com, Inc.JDCMF🇨🇳ChinaConsumer Cyclical2,55 billion $17,03 billion CN¥
94ServiceNow, Inc.NOW🇺🇸United StatesTechnology2,54 billion $
95Renault S.A.RNO.PA🇫🇷FranceConsumer Cyclical2,54 billion $2,27 Md€
96Merck KGaAMRK.DE🇩🇪GermanyHealthcare2,53 billion $2,27 Md€
97BioNTech SEBNTX🇩🇪GermanyHealthcare2,51 billion $2,25 Md€
98Biogen Inc.BIIB🇺🇸United StatesHealthcare2,49 billion $
99Workday, Inc.WDAY🇺🇸United StatesTechnology2,46 billion $
100Metallurgical Corporation of China Ltd.MLLUY🇨🇳ChinaIndustrials2,46 billion $16,41 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 2024 ranking established?
It ranks companies by their research and development expenses for the fiscal year 2024, 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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