The 311 Corporate Innovation Index
The 311 Corporate Innovation Index ranks 613 of the world's largest companies by how much they invest in research and development, from their official filings.
Compiled by Matthew Griffin and the 311 Institute from open data. Last updated .
- 613R&D spenders
- $61bn#1 R&D spend
- 14countries
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Top clusters
Countries prioritising it
Share of each country's labs in this field compared with the world average (countries with at least 6 labs and 3 in the field)
The world's corporate R&D hubs
Where the biggest R&D spenders cluster within about 120 kilometres of each other.
The 50 biggest R&D spenders
| # | Company | R&D | Share of revenue | Revenue | Titans rank | Year |
|---|---|---|---|---|---|---|
| 1 | Alphabet Inc.Technology | $61.1bn | 15.2% | $403bn | #7 | 2025 |
| 2 | Meta PlatformsTechnology | $57.4bn | 28.5% | $201bn | #26 | 2025 |
| 3 | Apple Inc.Technology | $34.5bn | 8.3% | $416bn | #4 | 2025 |
| 4 | MicrosoftTechnology | $32.5bn | 11.5% | $282bn | #16 | 2025 |
| 5 | NvidiaTechnology | $18.5bn | 8.6% | $216bn | #23 | 2025 |
| 6 | Merck & Co.Health | $15.8bn | 24.3% | $65bn | #114 | 2025 |
| 7 | Johnson & JohnsonHealth | $14.7bn | 15.6% | $94bn | #71 | 2025 |
| 8 | IntelTechnology | $13.8bn | 26.1% | $53bn | #148 | 2025 |
| 9 | Eli Lilly and CompanyHealth | $13.3bn | 20.5% | $65bn | #113 | 2025 |
| 10 | BroadcomTechnology | $11.0bn | 17.2% | $64bn | #115 | 2025 |
| 11 | PfizerHealth | $10.4bn | 16.7% | $63bn | #121 | 2025 |
| 12 | Oracle CorporationTechnology | $10.3bn | 15.3% | $67bn | #112 | 2025 |
| 13 | Bristol-Myers Squibb CompanyHealth | $10.0bn | 20.6% | $48bn | #160 | 2025 |
| 14 | Ford Motor CompanyIndustrial and transport | $9.4bn | 5.0% | $187bn | #31 | 2025 |
| 15 | CiscoTechnology | $9.3bn | 16.4% | $57bn | #138 | 2025 |
| 16 | AbbVie Inc.Health | $9.1bn | 14.9% | $61bn | #125 | 2025 |
| 17 | QualcommTechnology | $9.0bn | 20.4% | $44bn | #180 | 2025 |
| 18 | International Business Machines CorporationTechnology | $8.3bn | 12.3% | $68bn | #111 | 2025 |
| 19 | Advanced Micro Devices, Inc.Technology | $8.1bn | 23.4% | $35bn | #229 | 2025 |
| 20 | Amgen Inc.Health | $7.3bn | 19.8% | $37bn | #221 | 2025 |
| 21 | TeslaIndustrial and transport | $6.4bn | 6.8% | $95bn | #68 | 2025 |
| 22 | SalesforceTechnology | $6.0bn | 14.4% | $42bn | #196 | 2025 |
| 23 | Regeneron Pharmaceuticals, Inc.Health | $5.9bn | 40.8% | $14bn | #546 | 2025 |
| 24 | Gilead SciencesHealth | $5.8bn | 19.7% | $29bn | #269 | 2025 |
| 25 | Vertex Pharmaceuticals Inc / MaHealth | $3.9bn | 32.6% | $12bn | #648 | 2025 |
| 26 | Micron Technology, Inc.Technology | $3.8bn | 10.2% | $37bn | #217 | 2025 |
| 27 | BoeingIndustrial and transport | $3.6bn | 4.0% | $90bn | #77 | 2025 |
| 28 | Applied MaterialsTechnology | $3.6bn | 12.6% | $28bn | #283 | 2025 |
| 29 | Uber Technologies, Inc.Industrial and transport | $3.4bn | 6.5% | $52bn | #153 | 2025 |
| 30 | Netflix, Inc.Industrial and transport | $3.4bn | 7.5% | $45bn | #172 | 2025 |
| 31 | JD.com, Inc.Consumer and retail | $3.2bn | 1.7% | $182bn | #33 | 2025 |
| 32 | Dell Technologies Inc.Technology | $3.1bn | 2.8% | $114bn | #55 | 2025 |
| 33 | Servicenow, Inc.Technology | $3.0bn | 22.3% | $13bn | #586 | 2025 |
| 34 | Abbott LaboratoriesHealth | $2.9bn | 6.6% | $44bn | #179 | 2025 |
| 35 | Intuit Inc.Technology | $2.9bn | 15.5% | $19bn | #421 | 2025 |
| 36 | Block, Inc.Technology | $2.9bn | 12.0% | $24bn | #334 | 2025 |
| 37 | Medtronic plcHealth | $2.9bn | 7.9% | $36bn | #222 | 2025 |
| 38 | RTXIndustrial and transport | $2.8bn | 3.2% | $89bn | #81 | 2025 |
| 39 | Arm Holdings plcTechnology | $2.8bn | 56.4% | $5bn | #1302 | 2025 |
| 40 | Workday, Inc.Technology | $2.7bn | 28.0% | $10bn | #763 | 2025 |
| 41 | Atlassian CorporationTechnology | $2.7bn | 51.2% | $5bn | #1242 | 2025 |
| 42 | NetEaseTechnology | $2.5bn | 15.7% | $16bn | #488 | 2025 |
| 43 | Hewlett Packard Enterprise CompanyTechnology | $2.5bn | 7.3% | $34bn | #232 | 2025 |
| 44 | Synopsys, Inc.Technology | $2.5bn | 35.1% | $7bn | #980 | 2025 |
| 45 | Lam Research CorporationIndustrial and transport | $2.4bn | 10.2% | $23bn | #353 | 2025 |
| 46 | AirbnbIndustrial and transport | $2.4bn | 19.2% | $12bn | #633 | 2025 |
| 47 | Deere & CompanyIndustrial and transport | $2.3bn | 5.1% | $46bn | #170 | 2025 |
| 48 | MercadoLibre, Inc.Industrial and transport | $2.3bn | 7.9% | $29bn | #277 | 2025 |
| 49 | Trip.com Group LimitedIndustrial and transport | $2.2bn | 24.2% | $9bn | #837 | 2025 |
| 50 | BeOne Medicines LtdHealth | $2.1bn | 40.5% | $5bn | #1220 | 2025 |
The most R&D-intensive large companies
Companies with revenue above $10bn, ranked by R&D as a share of revenue.
| # | Company | Share of revenue | R&D |
|---|---|---|---|
| 1 | Regeneron Pharmaceuticals, Inc.Health | 40.8% | $5.9bn |
| 2 | Vertex Pharmaceuticals Inc / MaHealth | 32.6% | $3.9bn |
| 3 | Meta PlatformsTechnology | 28.5% | $57.4bn |
| 4 | IntelTechnology | 26.1% | $13.8bn |
| 5 | Merck & Co.Health | 24.3% | $15.8bn |
| 6 | Advanced Micro Devices, Inc.Technology | 23.4% | $8.1bn |
| 7 | Servicenow, Inc.Technology | 22.3% | $3.0bn |
| 8 | Bristol-Myers Squibb CompanyHealth | 20.6% | $10.0bn |
| 9 | Eli Lilly and CompanyHealth | 20.5% | $13.3bn |
| 10 | QualcommTechnology | 20.4% | $9.0bn |
| 11 | Amgen Inc.Health | 19.8% | $7.3bn |
| 12 | Gilead SciencesHealth | 19.7% | $5.8bn |
| 13 | AirbnbIndustrial and transport | 19.2% | $2.4bn |
| 14 | STMicroelectronicsTechnology | 17.3% | $2.0bn |
| 15 | BroadcomTechnology | 17.2% | $11.0bn |
All ranked companies
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Contact usAbout the directory
What is the 311 Corporate Innovation Index?
The 311 Corporate Innovation Index ranks the world's largest companies by how much they invest in research and development, using their official filings.
Which company spends the most on R&D?
Alphabet Inc. spends the most on R&D in the 311 Corporate Innovation Index.
Where does the data come from?
From each company's filings with the US Securities and Exchange Commission, which are public domain.
Why is Amazon not ranked?
Amazon does not report R&D as a separate figure in its filings, so it cannot be ranked on a like-for-like basis.
How is it linked to the other 311 indexes?
Every company links to its profile in the 311 Titans Index and its labs in the 311 Global R&D Labs Directory.
© 311 Institute 2015–2026. This directory, its rankings and analysis are the proprietary work of the 311 Institute and are protected by copyright and database rights. Copying, scraping, extracting or republishing any substantial part without written permission is prohibited. Licensing enquiries: contact us.
How the 311 Corporate Innovation Index is built
Companies that do not report R&D separately, such as Amazon, are not ranked. Coverage will widen as official annual-report data from other markets is added. Checked 3 October 2026.