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2025 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 2025.

Share prices and capitalizations at 2026-10-29·Annual accounts for the fiscal year 2025·Calculated on 2026-11-01· 12476 companies ranked
Metric : research and development expenses for the fiscal year 2025 (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)
1Aclarion, Inc.ACON🇺🇸United StatesHealthcare1 034 billion $
2International Isotopes Inc.INIS🇺🇸United StatesHealthcare435,84 billion $
3Kraig Biocraft Laboratories, Inc.KBLB🇺🇸United StatesBasic Materials165,76 billion $
4Amazon.com, Inc.AMZN🇺🇸United StatesConsumer Cyclical108,52 billion $
5Alphabet Inc.GOOG🇺🇸United StatesTechnology61,09 billion $
6Meta Platforms, Inc.META🇺🇸United StatesTechnology57,37 billion $
7Apple Inc.AAPL🇺🇸United StatesTechnology34,55 billion $
8Microsoft CorporationMSFT🇺🇸United StatesTechnology32,49 billion $
9Samsung Electronics Co., Ltd.SSNLF🇰🇷KoreaTechnology28,29 billion $37 740 Md₩
10OS Therapies IncorporatedOSTX🇺🇸United StatesHealthcare16,36 billion $
11Roche Holding AGRO.SW🇨🇭EuropeHealthcare16,20 billion $13,35 Bn CHF
12Johnson & JohnsonJNJ🇺🇸United StatesHealthcare14,66 billion $
13MAIA Biotechnology, Inc.MAIA🇺🇸United StatesHealthcare14,55 billion $
14AstraZeneca PLCAZN🇬🇧United KingdomHealthcare14,23 billion $
15Intel CorporationINTC🇺🇸United StatesTechnology13,77 billion $
16Eli Lilly and CompanyLLY🇺🇸United StatesHealthcare13,34 billion $
17NVIDIA CorporationNVDA🇺🇸United StatesTechnology12,91 billion $
18Tencent Holdings LimitedTCEHY🇨🇳ChinaCommunication Services12,89 billion $85,75 billion CN¥
19Merck & Co., Inc.MRK🇺🇸United StatesHealthcare12,51 billion $
20Novartis AGNOVN.SW🇨🇭EuropeHealthcare11,20 billion $
21Broadcom Inc.AVGO🇺🇸United StatesTechnology10,98 billion $
22Pfizer Inc.PFE🇺🇸United StatesHealthcare10,44 billion $
23Stellantis N.V.STLA🇳🇱EuropeConsumer Cyclical10,12 billion $9,05 Md€
24GSK plcGSK🇬🇧United KingdomHealthcare10,06 billion $7,51 Bn£
25Bristol-Myers Squibb CompanyBMY🇺🇸United StatesHealthcare9,95 billion $
26Monopar Therapeutics Inc.MNPR🇺🇸United StatesHealthcare9,90 billion $
27Oracle CorporationORCL🇺🇸United StatesTechnology9,86 billion $
28Ford Motor CompanyF🇺🇸United StatesConsumer Cyclical9,40 billion $
29Cisco Systems, Inc.CSCO🇺🇸United StatesTechnology9,30 billion $
30AbbVie Inc.ABBV🇺🇸United StatesHealthcare9,10 billion $
31QUALCOMM IncorporatedQCOM🇺🇸United StatesTechnology9,04 billion $
32PWR Holdings LimitedPWRHF🇦🇺AustraliaConsumer Cyclical8,93 billion $12,70 Bn AU$
33SanofiSAN.PA🇫🇷FranceHealthcare8,77 billion $7,84 Md€
34Alibaba Group Holding LimitedBABAF🇨🇳ChinaConsumer Cyclical8,59 billion $57,15 billion CN¥
35General Motors CompanyGM🇺🇸United StatesConsumer Cyclical8,50 billion $
36International Business Machines CorporationIBM🇺🇸United StatesTechnology8,32 billion $
37Advanced Micro Devices, Inc.AMD🇺🇸United StatesTechnology8,09 billion $
38BYD Company LimitedBYDDF🇨🇳ChinaConsumer Cyclical7,94 billion $52,85 billion CN¥
39Novo Nordisk A/SNOVO-B.CO🇩🇰EuropeHealthcare7,77 billion $52,04 Bn DKK
40Bayerische Motoren Werke AGBMW.DE🇩🇪GermanyConsumer Cyclical7,66 billion $6,85 Md€
41Taiwan Semiconductor Manufacturing Company LimitedTSM🇹🇼TaiwanTechnology7,55 billion $246,43 Bn NT$
42SAP SESAP.DE🇩🇪GermanyTechnology7,42 billion $6,63 Md€
43Siemens AGSIE.DE🇩🇪GermanyIndustrials7,34 billion $6,56 Md€
44Honda Motor Co., Ltd.HNDAF🇯🇵JapanConsumer Cyclical6,98 billion $1 099 Bn¥
45Amgen Inc.AMGN🇺🇸United StatesHealthcare6,97 billion $
46Mercedes-Benz Group AGMBG.DE🇩🇪GermanyConsumer Cyclical6,77 billion $6,05 Md€
47China State Construction Engineering Corporation Limited601668.SS🇨🇳ChinaIndustrials6,61 billion $44,01 billion CN¥
48Bayer AGBAYN.DE🇩🇪GermanyHealthcare6,45 billion $5,77 Md€
49Tesla, Inc.TSLA🇺🇸United StatesConsumer Cyclical6,41 billion $
50Regeneron Pharmaceuticals, Inc.REGN🇺🇸United StatesHealthcare5,85 billion $
51Gilead Sciences, Inc.GILD🇺🇸United StatesHealthcare5,80 billion $
52Lucid Diagnostics Inc.LUCD🇺🇸United StatesHealthcare5,68 billion $
53Daré Bioscience, Inc.DARE🇺🇸United StatesHealthcare5,52 billion $
54Salesforce, Inc.CRM🇺🇸United StatesTechnology5,49 billion $
55ASML Holding N.V.ASML.AS🇳🇱EuropeTechnology5,26 billion $4,70 Md€
56Nokia OyjNOKIA.HE🇫🇮EuropeTechnology5,17 billion $4,62 Md€
57Xiaomi CorporationXIACY🇺🇸United StatesTechnology4,98 billion $33,13 billion CN¥
58Telefonaktiebolaget LM Ericsson (publ)ERIC-B.ST🇸🇪EuropeTechnology4,91 billion $48,27 billion SEK
59SK hynix Inc.000660.KS🇰🇷KoreaTechnology4,85 billion $6 466 Md₩
60Sony Group CorporationSONY🇯🇵JapanTechnology4,84 billion $762,03 Bn¥
61MediaTek Inc.2454.TW🇹🇼TaiwanTechnology4,54 billion $148,31 Bn NT$
62PAVmed Inc.PAVM🇺🇸United StatesHealthcare4,49 billion $
63Adobe Inc.ADBE🇺🇸United StatesTechnology4,29 billion $
64Takeda Pharmaceutical Company LimitedTAK🇯🇵JapanHealthcare4,29 billion $675,92 Bn¥
65DENSO CorporationDNZOY🇺🇸United StatesConsumer Cyclical3,93 billion $619,40 Bn¥
66Nissan Motor Co., Ltd.NSANY🇯🇵JapanConsumer Cyclical3,93 billion $619,02 Bn¥
67MeituanMPNGY🇨🇳ChinaConsumer Cyclical3,91 billion $26,00 billion CN¥
68Micron Technology, Inc.MU🇺🇸United StatesTechnology3,80 billion $
69Vertex Pharmaceuticals IncorporatedVRTX🇺🇸United StatesHealthcare3,75 billion $
70Hon Hai Precision Industry Co., Ltd.HNHPF🇹🇼TaiwanTechnology3,73 billion $121,71 Bn NT$
71China Communications Construction Company Limited601800.SS🇨🇳ChinaIndustrials3,71 billion $24,70 billion CN¥
72The Boeing CompanyBA🇺🇸United StatesIndustrials3,62 billion $
73Power Construction Corporation of China, Ltd601669.SS🇨🇳ChinaIndustrials3,58 billion $23,80 billion CN¥
74Applied Materials, Inc.AMAT🇺🇸United StatesTechnology3,57 billion $
75China Railway Construction Corporation Limited601186.SS🇨🇳ChinaIndustrials3,55 billion $23,60 billion CN¥
76PetroChina Company LimitedPCCYF🇺🇸United StatesEnergy3,54 billion $23,55 billion CN¥
77Porsche AG VzP911.DE🇩🇪GermanyConsumer Cyclical3,53 billion $3,16 Md€
78Airbus SEEADSF🇳🇱EuropeIndustrials3,53 billion $3,15 Md€
79Pirelli & C. S.p.A.PIRC.MI🇮🇹EuropeConsumer Cyclical3,50 billion $3,13 Md€
80Uber Technologies, Inc.UBER🇺🇸United StatesTechnology3,40 billion $
81Netflix, Inc.NFLX🇺🇸United StatesCommunication Services3,39 billion $
82China Railway Group LimitedCRWOF🇨🇳ChinaIndustrials3,37 billion $22,44 billion CN¥
83Contemporary Amperex Technology Co., LimitedCYATY🇨🇳ChinaIndustrials3,33 billion $22,15 billion CN¥
84JD.com, Inc.JDCMF🇨🇳ChinaConsumer Cyclical3,23 billion $21,51 billion CN¥
85Moderna, Inc.MRNA🇺🇸United StatesHealthcare3,13 billion $
86PayPal Holdings, Inc.PYPL🇺🇸United StatesFinancial Services3,10 billion $
87Airship AI Holdings, Inc.AISP🇺🇸United StatesTechnology3,08 billion $
88Baidu, Inc.BAIDF🇨🇳ChinaCommunication Services3,07 billion $20,43 billion CN¥
89Dell Technologies Inc.DELL🇺🇸United StatesTechnology3,06 billion $
90Panasonic Holdings CorporationPCRFF🇯🇵JapanTechnology3,03 billion $477,80 Bn¥
91Tata Motors Passenger VehiclesTMPV.BO🇮🇳IndiaConsumer Cyclical3,02 billion $286,52 Bn₹
92ZTE CorporationZTCOF🇨🇳ChinaTechnology2,98 billion $19,86 billion CN¥
93ServiceNow, Inc.NOW🇺🇸United StatesTechnology2,96 billion $
94Abbott LaboratoriesABT🇺🇸United StatesHealthcare2,96 billion $
95Intuit Inc.INTU🇺🇸United StatesTechnology2,93 billion $
96Block, Inc.BSQKZ🇺🇸United StatesTechnology2,91 billion $
97RTX CorporationRTX🇺🇸United StatesIndustrials2,81 billion $
98Daiichi Sankyo Company, LimitedDSKYF🇯🇵JapanHealthcare2,77 billion $436,00 Bn¥
99Medtronic plcMDT🇮🇪EuropeHealthcare2,73 billion $
100Infineon Technologies AGIFX.DE🇩🇪GermanyTechnology2,69 billion $2,41 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 2025 ranking established?
It ranks companies by their research and development expenses for the fiscal year 2025, 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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