Financials · Top lists
Companies spending the most on research and development
Research and development expense over the last twelve months. Companies that report in another currency are converted to US dollars and marked ≈.
| # | Company | R&D spending | Revenue | Net income | Growth | Market cap | Through |
|---|---|---|---|---|---|---|---|
| 1 | META | $76.54B | $241.61B | $75.25B | +27.5% | $1.56T | Sep 30, 2026 |
| 2 | GOOGL | $74.46B | $471.10B | $235.69B | +22.2% | $3.50T | Sep 30, 2026 |
| 3 | AAPL | $45.77B | $478.83B | $132.18B | +15.1% | $4.98T | Sep 26, 2026 |
| 4 | MSFT | $36.46B | $346.44B | $142.63B | +17.9% | $3.94T | Sep 30, 2026 |
| 5 | MRK | $30.76B | $67.38B | $2.45B | +4.9% | $361.71B | Sep 30, 2026 |
| 6 | NVDA | $23.59B | $302.97B | $192.88B | +83.4% | $4.50T | Jul 26, 2026 |
| 7 | LLY | $15.38B | $86.46B | $27.58B | +45.5% | $1.27T | Sep 30, 2026 |
| 8 | AZN | $14.23B | $58.74B | $10.22B | +8.6% | $289.10B | Dec 31, 2025 |
| 9 | INTC | $13.45B | $59.89B | -$12.03B | +12.1% | $299.10B | Sep 26, 2026 |
| 10 | STLA | ≈$13.10B€11.14B at 0.851 per USD, Dec 31, 2025 | ≈$180.39B | ≈-$26.24B | -2.1% | $12.84B | Dec 31, 2025 |
| 11 | AVGO | $11.84B | $89.10B | $38.27B | +48.7% | $1.40T | Aug 2, 2026 |
| 12 | PFE | $11.52B | $63.63B | $4.03B | +1.3% | $167.49B | Sep 27, 2026 |
| 13 | NVS | $11.20B | $54.53B | $13.98B | +8.4% | $310.17B | Dec 31, 2025 |
| 14 | BMY | $10.56B | $50.03B | $9.24B | +4.2% | $127.01B | Sep 30, 2026 |
| 15 | QCOM | $10.21B | $43.12B | $13.63B | -2.6% | $176.99B | Sep 27, 2026 |
| 16 | ORCL | $10.18B | $71.78B | $18.92B | +21.6% | $351.04B | Aug 31, 2026 |
| 17 | GSK | ≈$10.13B£7.53B at 0.743 per USD, Dec 31, 2025 | ≈$43.97B | ≈$7.69B | +4.1% | $101.80B | Dec 31, 2025 |
| 18 | AMD | $10.06B | $45.44B | $7.62B | +41.9% | $736.46B | Sep 26, 2026 |
| 19 | ABBV | $9.96B | $66.01B | $10.34B | +10.7% | $514.92B | Sep 30, 2026 |
| 20 | TM | ≈$9.84B¥1.57T at 159.41 per USD, Mar 31, 2026 | ≈$317.95B | ≈$24.14B | +5.5% | $281.77B | Mar 31, 2026 |
| 21 | HMC | ≈$9.66B¥1.54T at 159.41 per USD, Mar 31, 2026 | ≈$136.73B | ≈-$2.66B | +0.5% | $46.43B | Mar 31, 2026 |
| 22 | BABA | ≈$9.64BCN¥66.53B at 6.902 per USD, Mar 31, 2026 | ≈$148.31B | ≈$15.01B | +2.7% | $265.13B | Mar 31, 2026 |
| 23 | CSCO | $9.56B | $63.33B | $13.27B | +11.8% | $370.01B | Jul 25, 2026 |
| 24 | SNY | ≈$9.22B€7.84B at 0.851 per USD, Dec 31, 2025 | ≈$51.26B | ≈$9.18B | +6.2% | $114.71B | Dec 31, 2025 |
| 25 | IBM | $9.05B | $69.87B | $11.17B | +6.8% | $231.55B | Sep 30, 2026 |
| 26 | TSLA | $8.86B | $103.57B | $3.22B | +8.3% | $1.42T | Sep 30, 2026 |
| 27 | NVO | ≈$8.19BDKK 52.04B at 6.355 per USD, Dec 31, 2025 | ≈$48.63B | ≈$16.12B | +6.4% | $178.51B | Dec 31, 2025 |
| 28 | TSM | ≈$7.87BNT$246.43B at 31.324 per USD, Dec 31, 2025 | ≈$121.60B | ≈$54.19B | +31.6% | $1.95T | Dec 31, 2025 |
| 29 | AMGN | $7.84B | $38.90B | $9.39B | +8.2% | $249.05B | Sep 30, 2026 |
| 30 | SAP | ≈$7.79B€6.63B at 0.851 per USD, Dec 31, 2025 | ≈$43.24B | ≈$8.41B | +7.7% | $286.79B | Dec 31, 2025 |
| 31 | REGN | $6.60B | $16.90B | $4.82B | +18.6% | $93.55B | Sep 30, 2026 |
| 32 | CRM | $6.37B | $43.94B | $9.66B | +11.2% | $175.83B | Jul 31, 2026 |
| 33 | GILD | $6.33B | $30.99B | -$3.86B | +6.5% | $207.00B | Sep 30, 2026 |
| 34 | NOK | ≈$5.71B€4.86B at 0.851 per USD, Dec 31, 2025 | ≈$23.37B | ≈$764.98M | +3.5% | $43.99B | Dec 31, 2025 |
| 35 | MU | $5.65B | $133.19B | $84.97B | +256.3% | $780.68B | Sep 3, 2026 |
| 36 | ASML | ≈$5.52B€4.70B at 0.851 per USD, Dec 31, 2025 | ≈$38.39B | ≈$11.29B | +15.6% | $549.12B | Dec 31, 2025 |
| 37 | ERIC | ≈$5.31BSEK 48.85B at 9.197 per USD, Dec 31, 2025 | ≈$25.73B | ≈$3.09B | -4.5% | $34.57B | Dec 31, 2025 |
| 38 | SONY | ≈$4.78B¥762.03B at 159.41 per USD, Mar 31, 2026 | ≈$78.29B | ≈-$2.05B | +3.7% | $159.16B | Mar 31, 2026 |
| 39 | VRTX | $4.25B | $12.95B | $3.98B | +10.5% | $138.71B | Sep 30, 2026 |
| 40 | TAK | ≈$4.24B¥675.92B at 159.41 per USD, Mar 31, 2026 | ≈$28.26B | ≈-$955.96M | -1.7% | $66.40B | Mar 31, 2026 |
| 41 | UBER | $4.15B | $56.53B | $3.46B | +13.9% | $140.05B | Sep 30, 2026 |
| 42 | AMAT | $3.97B | $30.84B | $9.27B | +7.8% | $264.05B | Jul 26, 2026 |
| 43 | NFLX | $3.89B | $49.73B | $14.77B | +14.7% | $260.40B | Sep 30, 2026 |
| 44 | HPE | $3.71B | $41.87B | $2.79B | +26.6% | $59.43B | Jul 31, 2026 |
| 45 | DELL | $3.64B | $151.20B | $11.38B | +49.0% | $208.88B | Jul 31, 2026 |
| 46 | BA | $3.62B | $94.91B | $7.66B | +17.5% | $137.41B | Sep 30, 2026 |
| 47 | NOW | $3.47B | $15.43B | $1.45B | +21.8% | $105.84B | Sep 30, 2026 |
| 48 | INCY | $3.44B | $6.01B | $403.41M | +24.9% | $24.39B | Sep 30, 2026 |
| 49 | INTU | $3.38B | $21.45B | $4.57B | +13.9% | $91.26B | Jul 31, 2026 |
| 50 | ABT | $3.31B | $48.23B | $4.70B | +10.0% | $190.39B | Sep 30, 2026 |
| 51 | TEAM | $3.27B | $6.91B | $88.76M | +26.6% | $38.75B | Sep 30, 2026 |
| 52 | JD | ≈$3.18BCN¥22.23B at 6.998 per USD, Dec 31, 2025 | ≈$187.07B | ≈$2.81B | +13.0% | $39.12B | Dec 31, 2025 |
| 53 | XYZ | $2.99B | $25.65B | $459.79M | +7.0% | $51.67B | Sep 30, 2026 |
| 54 | BIDU | ≈$2.92BCN¥20.43B at 6.998 per USD, Dec 31, 2025 | ≈$18.45B | ≈$798.66M | -3.0% | $27.85B | Dec 31, 2025 |
| 55 | MDT | $2.92B | $37.54B | $5.24B | +9.8% | $130.22B | Jul 31, 2026 |
| 56 | SNPS | $2.88B | $9.42B | $1.08B | +46.3% | $86.32B | Jul 31, 2026 |
| 57 | RTX | $2.85B | $95.99B | $8.40B | +11.6% | $255.76B | Sep 30, 2026 |
| 58 | WDAY | $2.81B | $10.15B | $1.25B | +13.3% | $46.49B | Jul 31, 2026 |
| 59 | ARM | $2.78B | $4.92B | $904.00M | +22.8% | $185.81B | Mar 31, 2026 |
| 60 | MELI | $2.76B | $38.52B | $1.89B | +47.1% | $76.55B | Sep 30, 2026 |
| 61 | MRNA | $2.66B | $2.52B | -$2.79B | +13.1% | $101.48B | Sep 30, 2026 |
| 62 | ABNB | $2.56B | $13.93B | $3.21B | +16.7% | $113.76B | Sep 30, 2026 |
| 63 | PANW | $2.55B | $11.48B | $307.00M | +24.5% | $256.86B | Jul 31, 2026 |
| 64 | NTES | ≈$2.53BCN¥17.72B at 6.998 per USD, Dec 31, 2025 | ≈$16.09B | ≈$4.82B | +7.0% | $82.61B | Dec 31, 2025 |
| 65 | BNTX | ≈$2.47B€2.10B at 0.851 per USD, Dec 31, 2025 | ≈$3.37B | ≈-$1.34B | +4.3% | $21.98B | Dec 31, 2025 |
| 66 | NXPI | $2.47B | $13.80B | $3.25B | +14.6% | $62.58B | Sep 27, 2026 |
| 67 | LRCX | $2.47B | $26.13B | $8.45B | +33.4% | $250.38B | Sep 27, 2026 |
| 68 | MRVL | $2.44B | $9.45B | $2.64B | +30.6% | $123.82B | Aug 1, 2026 |
| 69 | ONC | $2.43B | $6.61B | $915.57M | +32.9% | $46.27B | Sep 30, 2026 |
| 70 | DE | $2.38B | $47.98B | $4.87B | +8.0% | $181.09B | Aug 2, 2026 |
| 71 | PDD | ≈$2.36BCN¥16.50B at 6.998 per USD, Dec 31, 2025 | ≈$61.71B | ≈$13.98B | +9.7% | $118.18B | Dec 31, 2025 |
| 72 | CAT | $2.31B | $77.77B | $11.83B | +20.3% | $255.63B | Sep 30, 2026 |
| 73 | HON | $2.29B | $33.61B | $7.05B | +3.9% | $69.83B | Sep 30, 2026 |
| 74 | TCOM | ≈$2.16BCN¥15.14B at 6.998 per USD, Dec 31, 2025 | ≈$8.93B | ≈$4.76B | +17.1% | $27.94B | Dec 31, 2025 |
| 75 | BSX | $2.16B | $21.07B | $3.50B | +8.9% | $61.96B | Sep 30, 2026 |
| 76 | BIIB | $2.15B | $10.30B | $347.50M | +2.3% | $36.71B | Sep 30, 2026 |
| 77 | SNOW | $2.11B | $5.43B | -$1.09B | +32.0% | $97.33B | Jul 31, 2026 |
| 78 | TXN | $2.10B | $20.77B | $7.11B | +20.3% | $253.44B | Sep 30, 2026 |
| 79 | STM | $2.04B | $11.80B | $166.00M | -11.1% | $37.24B | Dec 31, 2025 |
| 80 | PHG | ≈$2.00B€1.70B at 0.851 per USD, Dec 31, 2025 | ≈$20.96B | ≈$1.05B | -1.0% | $29.83B | Dec 31, 2025 |
| 81 | ADI | $1.98B | $13.88B | $4.14B | +33.6% | $176.17B | Aug 1, 2026 |
| 82 | SNAP | $1.97B | $6.57B | -$151.20M | +13.8% | $8.38B | Sep 30, 2026 |
| 83 | COIN | $1.94B | $5.63B | -$701.62M | -26.6% | $35.68B | Sep 30, 2026 |
| 84 | DASH | $1.85B | $17.06B | $1.06B | +35.0% | $78.33B | Sep 30, 2026 |
| 85 | RIVN | $1.83B | $6.48B | -$2.98B | +11.1% | $19.87B | Sep 30, 2026 |
| 86 | DDOG | $1.82B | $4.28B | $262.01M | +33.2% | $64.64B | Sep 30, 2026 |
| 87 | GE | $1.81B | $52.58B | $9.10B | +19.6% | $334.02B | Sep 30, 2026 |
| 88 | EBAY | $1.79B | $12.39B | $2.10B | +15.7% | $53.54B | Sep 30, 2026 |
| 89 | SHOP | $1.77B | $14.17B | $2.13B | +32.5% | $191.58B | Sep 30, 2026 |
| 90 | TEVA | $1.76B | $14.02B | $506.00M | -16.4% | $49.71B | Sep 30, 2026 |
| 91 | ADSK | $1.72B | $7.79B | $1.64B | +17.9% | $54.70B | Jul 31, 2026 |
| 92 | RBLX | $1.69B | $5.90B | -$972.06M | +32.1% | $35.28B | Sep 30, 2026 |
| 93 | SYK | $1.68B | $26.30B | $3.62B | +7.9% | $124.05B | Sep 30, 2026 |
| 94 | DHR | $1.67B | $25.61B | $4.33B | +5.5% | $161.98B | Sep 25, 2026 |
| 95 | SPOT | ≈$1.64B€1.39B at 0.851 per USD, Dec 31, 2025 | ≈$20.20B | ≈$2.60B | +9.7% | $127.08B | Dec 31, 2025 |
| 96 | PINS | $1.62B | $4.68B | $178.33M | +15.4% | $10.87B | Sep 30, 2026 |
| 97 | LI | ≈$1.62BCN¥11.31B at 6.998 per USD, Dec 31, 2025 | ≈$16.05B | ≈$160.68M | -22.3% | $12.24B | Dec 31, 2025 |
| 98 | HPQ | $1.61B | $59.16B | $2.45B | +8.1% | $25.66B | Jul 31, 2026 |
| 99 | GMAB | $1.61B | $3.72B | $963.00M | +19.2% | $33.47B | Dec 31, 2025 |
| 100 | KLAC | $1.57B | $14.51B | $5.26B | +15.8% | $180.45B | Sep 30, 2026 |
Source: XBRL data companies file with the SEC, through filings of Nov 6, 2026. Flows cover the last twelve months where quarterly data exists, otherwise the latest fiscal year. Figures marked ≈ are converted from the currency the company reports in, at the US Treasury rate of exchange for the quarter-end nearest its period end, so they will not match the filing and exchange rates move them. Growth and margins are in the reporting currency. Provided for information only, not investment advice.