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2026 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 2026.

Share prices and capitalizations at 2026-10-29·Annual accounts for the fiscal year 2026·Calculated on 2026-11-01· 700 companies ranked
Metric : research and development expenses for the fiscal year 2026 (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)
1NanoViricides, Inc.NNVC🇺🇸United StatesHealthcare4 708 billion $
2LightPath Technologies, Inc.LPTH🇺🇸United StatesTechnology3 784 billion $
3Hawkeye Systems, Inc.HWKE🇺🇸United StatesIndustrials38,81 billion $
4Microsoft CorporationMSFT🇺🇸United StatesTechnology35,56 billion $
5NVIDIA CorporationNVDA🇺🇸United StatesTechnology18,50 billion $
6Oracle CorporationORCL🇺🇸United StatesTechnology10,27 billion $
7Alibaba Group Holding LimitedBABAF🇨🇳ChinaConsumer Cyclical10,00 billion $66,53 billion CN¥
8Honda Motor Co., Ltd.HNDAF🇯🇵JapanConsumer Cyclical9,78 billion $1 541 Bn¥
9Cisco Systems, Inc.CSCO🇺🇸United StatesTechnology9,56 billion $
10Salesforce, Inc.CRM🇺🇸United StatesTechnology5,99 billion $
11Elite Pharmaceuticals, Inc.ELTP🇺🇸United StatesHealthcare5,74 billion $
12Micron Technology, Inc.MU🇺🇸United StatesTechnology5,65 billion $
13Neuphoria Therapeutics Inc.NEUP🇺🇸United StatesHealthcare3,55 billion $
14Intuit Inc.INTU🇺🇸United StatesTechnology3,38 billion $
15Atlassian CorporationTEAM🇦🇺AustraliaTechnology3,27 billion $
16Dell Technologies Inc.DELL🇺🇸United StatesTechnology3,14 billion $
17Daiichi Sankyo Company, LimitedDSKYF🇯🇵JapanHealthcare2,96 billion $466,00 Bn¥
18Medtronic plcMDT🇮🇪EuropeHealthcare2,87 billion $
19HeartSciences Inc.HSCS🇺🇸United StatesHealthcare2,84 billion $
20Arm Holdings plc American Depositary SharesARM🇬🇧United KingdomTechnology2,78 billion $
21Workday, Inc.WDAY🇺🇸United StatesTechnology2,68 billion $
22Palo Alto Networks, Inc.PANW🇺🇸United StatesTechnology2,55 billion $
23Lenovo Group LimitedLNVGF🇭🇰Hong KongTechnology2,48 billion $
24Lam Research CorporationLRCX🇺🇸United StatesTechnology2,38 billion $
25Marvell Technology, Inc.MRVL🇺🇸United StatesTechnology2,08 billion $
26Astellas Pharma Inc.ALPMY🇯🇵JapanHealthcare2,00 billion $314,83 Bn¥
27Snowflake Inc.SNOW🇺🇸United StatesTechnology1,97 billion $
28TDK CorporationTTDKF🇯🇵JapanTechnology1,84 billion $289,67 Bn¥
29Tokyo Electron Limited8035.T🇯🇵JapanTechnology1,76 billion $277,87 Bn¥
30Autodesk, Inc.ADSK🇺🇸United StatesTechnology1,74 billion $
31KLA CorporationKLAC🇺🇸United StatesTechnology1,53 billion $
32CrowdStrike Holdings, Inc.CRWD🇺🇸United StatesTechnology1,38 billion $
33Sandisk CorporationSNDK🇺🇸United StatesTechnology1,33 billion $
34CSL LimitedCSLLY🇦🇺AustraliaHealthcare1,25 billion $
35Tata Motors Passenger VehiclesTMPV.BO🇮🇳IndiaConsumer Cyclical1,25 billion $118,63 Bn₹
36Western Digital CorporationWDC🇺🇸United StatesTechnology1,16 billion $
37Microchip Technology IncorporatedMCHP🇺🇸United StatesTechnology1,09 billion $
38Take-Two Interactive Software, Inc.TTWO🇺🇸United StatesTechnology1,07 billion $
39Mazda Motor CorporationMZDAF🇯🇵JapanConsumer Cyclical1,02 billion $160,87 Bn¥
40Murata Manufacturing Co., Ltd.MRAAF🇯🇵JapanTechnology1,01 billion $158,87 Bn¥
41Subaru CorporationFUJHY🇯🇵JapanConsumer Cyclical1,00 billion $158,00 Bn¥
42FUJIFILM Holdings CorporationFUJIF🇺🇸United StatesIndustrials1,00 billion $157,79 Bn¥
43NetApp, Inc.NTAP🇺🇸United StatesTechnology991,0 M$
44Pure Storage, Inc.0KSA.L🇺🇸United StatesTechnology963,3 M$
45TE Connectivity Ltd.TEL🇨🇭EuropeTechnology942,0 M$
46Ono Pharmaceutical Co., Ltd.OPHLY🇯🇵JapanHealthcare933,2 M$147,04 Bn¥
47Sumitomo Chemical Company, LimitedSOMMY🇯🇵JapanBasic Materials918,3 M$144,70 Bn¥
48Zscaler, Inc.ZS🇺🇸United StatesTechnology903,4 M$
49Zoom Communications, Inc.ZM🇺🇸United StatesTechnology844,9 M$
50Nutanix, Inc.NTNX🇺🇸United StatesTechnology790,9 M$
51Automatic Data Processing, Inc.ADP🇺🇸United StatesIndustrials774,9 M$
52Super Micro Computer, Inc.SMCI🇺🇸United StatesTechnology771,2 M$
53Veeva Systems Inc.VEEV🇺🇸United StatesHealthcare767,4 M$
54Seagate Technology Holdings plcSTX🇮🇪EuropeTechnology755,0 M$
55Nidec CorporationNJDCY🇯🇵JapanIndustrials741,9 M$116,90 Bn¥
56Kyocera CorporationKYOCF🇯🇵JapanTechnology734,3 M$115,70 Bn¥
57Coherent, Inc.COHR🇺🇸United StatesTechnology723,0 M$
58MongoDB, Inc.MDB🇺🇸United StatesTechnology716,3 M$
59Olympus CorporationOCPNF🇯🇵JapanHealthcare697,8 M$109,95 Bn¥
60DocuSign, Inc.DOCU🇺🇸United StatesTechnology665,0 M$
61Open Text CorporationOTEX🇨🇦CanadaTechnology647,7 M$
62Alstom S.A.ALO.PA🇫🇷FranceIndustrials640,8 M$573,0 M€
63Okta, Inc.OKTA🇺🇸United StatesTechnology639,0 M$
64F5, Inc.FFIV🇺🇸United StatesTechnology621,4 M$
65Textron Inc.TXT🇺🇸United StatesIndustrials521,0 M$
66Mitsubishi Heavy Industries, Ltd.MHVYF🇯🇵JapanIndustrials508,8 M$80,17 Bn¥
67Escalon Medical Corp.ESMC🇺🇸United StatesHealthcare501,5 M$
68QinetiQ Group plcQNTQY🇬🇧United KingdomIndustrials496,2 M$370,5 M£
69Shin-Etsu Chemical Co., Ltd.SHECF🇺🇸United StatesBasic Materials493,7 M$77,80 Bn¥
70Ricoh Company, Ltd.RICOF🇯🇵JapanIndustrials491,2 M$77,40 Bn¥
71Dynatrace, Inc.DT🇺🇸United StatesTechnology474,3 M$
72Immunovant, Inc.IMVT🇺🇸United StatesHealthcare456,7 M$
73Elastic N.V.ESTC🇺🇸United StatesTechnology451,9 M$
74Nikon CorporationNINOY🇯🇵JapanConsumer Cyclical449,6 M$70,84 Bn¥
75Cirrus Logic, Inc.CRUS🇺🇸United StatesTechnology434,0 M$
76Mitsubishi Motors CorporationMMTOF🇯🇵JapanConsumer Cyclical411,7 M$64,86 Bn¥
77Experian plcEXPGY🇮🇪EuropeIndustrials411,3 M$
78Gen Digital Inc.GEN🇺🇸United StatesTechnology409,0 M$
79Fortescue Metals Group LimitedFSUMF🇦🇺AustraliaBasic Materials391,0 M$
80Toyota Boshoku Corporation3116.T🇯🇵JapanConsumer Cyclical389,5 M$61,38 Bn¥
81UiPath Inc.PATH🇺🇸United StatesTechnology385,3 M$
82Synaptics IncorporatedSYNA🇺🇸United StatesTechnology381,8 M$
83ResMed Inc.RMD🇺🇸United StatesHealthcare378,3 M$
84Rubrik, Inc.RBRK🇺🇸United StatesTechnology373,7 M$
85Sun Pharmaceutical Industries LimitedSUNPHARMA.NS🇮🇳IndiaHealthcare365,9 M$34,74 Bn₹
86Lumentum Holdings Inc.LITE🇺🇸United StatesTechnology356,5 M$
87Konica Minolta, Inc.KNCAY🇯🇵JapanIndustrials347,1 M$54,70 Bn¥
88Samsara Inc.IOT🇺🇸United StatesTechnology344,6 M$
89Guidewire Software, Inc.GWRE🇺🇸United StatesTechnology340,1 M$
90BRP Inc.DOO.TO🇨🇦CanadaConsumer Cyclical339,7 M$474,5 M CA$
91Ubisoft Entertainment S.A.UBI.PA🇫🇷FranceTechnology329,1 M$294,3 M€
92SentinelOne, Inc.S🇺🇸United StatesTechnology323,9 M$
93Logitech International S.A.LOGN.SW🇨🇭EuropeTechnology316,8 M$
94Nitto Denko CorporationNDEKF🇺🇸United StatesBasic Materials304,8 M$48,02 Bn¥
95ServiceTitan, Inc.TTAN🇺🇸United StatesTechnology302,6 M$
96Asana, Inc.ASAN🇺🇸United StatesTechnology301,5 M$
97Bill.com Holdings, Inc.BILL🇺🇸United StatesTechnology300,6 M$
98Box, Inc.BOX🇺🇸United StatesTechnology294,5 M$
99OMRON CorporationOMRNY🇯🇵JapanTechnology289,8 M$45,67 Bn¥
100Sonova Holding AGSOON.SW🇨🇭EuropeHealthcare284,5 M$234,5 M CHF
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 2026 ranking established?
It ranks companies by their research and development expenses for the fiscal year 2026, 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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