CompaniesRanked

2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Companies that spend the most on research and development — page 2

Ranks 101–200 of 1270 · Fiscal year 2025 · Data as of September 25, 2026

R&D expense
#CompanyR&D expenseYoY15-year trend
101CumminsCMIUSIndustrials$1.4B−4.6%
102Crowdstrike HoldingsCRWDUSTechnology$1.4B+28.7%
103KlaKLACUSTechnology$1.4B+6.4%
104Alnylam PharmaceuticalsALNYUSHealthcare$1.3B+17.2%
105Intuitive SurgicalISRGUSHealthcare$1.3B+14.5%
106Becton DickinsonBDXUSHealthcare$1.3B+6.3%
107GE Healthcare TechnologiesGEHCUSHealthcare$1.3B−3.9%
108Arista NetworksANETUSTechnology$1.2B+24.1%
109Lucid GroupLCIDUSConsumer discretionary$1.2B+3.0%
110GE VernovaGEVUSTechnology$1.2B+21.9%
111ShellSHELGBEnergy$1.2B+6.5%
112SeaSESGIndustrials$1.2B−4.1%
113Mobileye GlobalMBLYILTechnology$1.2B+6.3%
114AptivAPTVCHConsumer discretionary$1.1B+2.9%
115GarminGRMNCHIndustrials$1.1B+13.3%
116Northrop GrummanNOCUSIndustrials$1.1B0.0%
117Microchip TechnologyMCHPUSTechnology$1.1B+10.4%
118Edwards LifesciencesEWUSHealthcare$1.1B+2.5%
119PayPal HoldingsPYPLUSTechnology$1.1B+12.4%
120Ase TechnologyASXTWTechnology$1.0B+19.1%
121FerrariRACEITConsumer discretionary$1.0B+7.3%
122FigmaFIGUSTechnology$1.0B+37.1%
123CNH IndustrialCNHGBIndustrials$1.0B+10.9%
124TwilioTWLOUSTechnology$1.0B+1.1%
125Neurocrine BiosciencesNBIXUSHealthcare$1.0B+38.9%
126Teva Pharmaceutical IndustriesTEVAILHealthcare$1.0B+1.5%
127Keysight TechnologiesKEYSUSTechnology$1.0B+9.6%
128Flutter EntertainmentFLUTUSTechnology$991M+20.9%
129NetAppNTAPUSTechnology$991M−2.1%
130AlconALCUSHealthcare$990M+13.0%
131Automatic Data ProcessingADPUSTechnology$989M+3.4%
132Motorola SolutionsMSIUSTechnology$970M+5.8%
133IlluminaILMNUSTechnology$967M−17.3%
134ViatrisVTRSUSHealthcare$966M+19.4%
135EverpurePUSTechnology$963M+19.8%
136UnileverULGBConsumer staples$945M−2.2%
137Chime FinancialCHYMUSFinancials$935M+202.0%
138Unity SoftwareUUSTechnology$930M+0.5%
139Biomarin PharmaceuticalBMRNUSHealthcare$922M+23.4%
140Ionis PharmaceuticalsIONSUSHealthcare$916M+1.6%
141HubspotHUBSUSTechnology$906M+16.3%
142Roper TechnologiesROPUSTechnology$853M+14.0%
143CienaCIENUSTechnology$848M+10.5%
144Zoom CommunicationsZMUSTechnology$845M−0.9%
145PepsiCoPEPUSConsumer staples$839M+3.2%
146ExelixisEXELUSHealthcare$825M−9.4%
147AccentureACNIETechnology$817M−29.0%
148FortinetFTNTUSTechnology$816M+13.8%
149TotalenergiesTTEFREnergy$810M+0.6%
150CorningGLWUSMaterials$800M0.0%
151EatonETNIEIndustrials$797M+0.4%
152Magna InternationalMGACAConsumer discretionary$792M−9.4%
153Skyworks SolutionsSWKSUSTechnology$786M+24.3%
154RedditRDDTUSTechnology$783M−16.3%
155Jazz PharmaceuticalsJAZZIEHealthcare$783M−11.5%
156InsmedINSMUSHealthcare$771M+28.9%
157Emerson ElectricEMRUSTechnology$771M−1.3%
158Veeva SystemsVEEVUSTechnology$767M+10.7%
159Philip Morris InternationalPMUSConsumer staples$756M−0.4%
160Open TextOTEXCATechnology$756M−12.6%
161DowDOWUSMaterials$752M−7.2%
162Ultragenyx PharmaceuticalRAREUSHealthcare$750M+7.4%
163SolventumSOLVUSHealthcare$739M−4.6%
164NutanixNTNXUSTechnology$737M+15.3%
165DropboxDBXUSTechnology$732M−20.0%
166RokuROKUUSCommunication services$729M+1.3%
167QorvoQRVOUSTechnology$726M−2.9%
168MongodbMDBUSTechnology$716M+20.0%
169BorgWarnerBWAUSConsumer discretionary$710M−3.5%
170SLBSLBUSEnergy$709M−5.3%
1713MMMMUSHealthcare$700M0.0%
172TE ConnectivityTELIEIndustrials$699M+12.6%
173ZoetisZTSUSHealthcare$698M+1.7%
174International Flavors & FragrancesIFFUSMaterials$694M+3.4%
175ValeVALEBRMaterials$693M−12.3%
176Axon EnterpriseAXONUSIndustrials$684M+55.0%
177Rockwell AutomationROKUSTechnology$679M+3.2%
178ZscalerZSUSTechnology$672M+34.5%
179Universe PharmaceuticalsUPCCNHealthcare$672M−77.8%
180DocusignDOCUUSTechnology$665M+13.0%
181MaplebearCARTUSTechnology$650M+7.6%
182Sofi TechnologiesSOFIUSFinancials$648M+17.5%
183AmphenolAPHUSTechnology$647M+42.8%
184Wix.comWIXILTechnology$646M+30.3%
185OktaOKTAUSTechnology$639M−0.5%
186Super Micro ComputerSMCIUSTechnology$637M+37.3%
187TrimbleTRMBUSTechnology$631M−4.8%
188Bausch Health CompaniesBHCCAHealthcare$629M+2.1%
189Carrier GlobalCARRUSIndustrials$625M−8.9%
190NateraNTRAUSHealthcare$624M+54.4%
191Arrowhead PharmaceuticalsARWRUSHealthcare$607M+20.0%
192Zillow GroupZGUSTechnology$607M+3.8%
193Baker HughesBKRUSEnergy$600M−6.7%
194Elbit SystemsESLTILIndustrials$600M+10.2%
195DexcomDXCMUSHealthcare$599M+8.5%
196Zebra TechnologiesZBRAUSIndustrials$593M+5.3%
197onsemiONUSTechnology$584M−4.7%
198CoherentCOHRUSTechnology$582M+21.5%
199Palantir TechnologiesPLTRUSTechnology$558M+9.8%
200United TherapeuticsUTHRUSHealthcare$550M+14.3%

All figures from SEC filings · FY2025 · 100

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