Top 100 Stocks by Return on Assets
Top companies ranked by return on assets, latest annual filings.
What Return on Assets Means for US-listed Companies
Return on assets divides net income by total assets for the most recent fiscal year, so it measures the profit earned on every dollar the company controls, whether shareholders or lenders funded it. Ignoring capital structure is the point, because it shows how hard the asset base works before financing choices enter the picture. The same design flatters asset-light businesses and penalizes asset-heavy ones, so the spread across the market tracks business model as much as management.
Why Return on Assets Matters Less Than It Seems
Where return on equity can be lifted by borrowing, this ratio cannot, so a company earning a high return on its whole base is earning it from operations. The catch is the accounting underneath. Net income carries one-time gains, write-downs and tax effects, and the denominator is book value, so old plant held at historic cost and brands that never reached the balance sheet inflate the figure while acquired goodwill deflates it. Across sectors the spread is mostly business model.
What to Read Alongside
Return on assets reads best beside its neighbors. Pair it with Return on Equity to size what borrowing adds, Net Margin to separate pricing power from how hard the assets work, and Total Assets for the denominator itself.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | WDC | Western Digital Corporation | Technology | 67.99% | $128.64B |
| 2 | VRSN | VeriSign, Inc. | Technology | 62.27% | $26.94B |
| 3 | NVDA | NVIDIA Corporation | Technology | 58.06% | $5.09T |
| 4 | SNDK | Sandisk Corporation | Technology | 50.80% | $178.93B |
| 5 | APP | AppLovin Corporation | Communication Services | 45.92% | $87.09B |
| 6 | UI | Ubiquiti Inc. | Technology | 43.69% | $35.56B |
| 7 | MU | Micron Technology, Inc. | Technology | 43.38% | $992.88B |
| 8 | NVAX | Novavax, Inc. | Healthcare | 37.42% | $1.60B |
| 9 | DPZ | Domino's Pizza, Inc. | Consumer Cyclical | 35.05% | $10.32B |
| 10 | FICO | Fair Isaac Corporation | Technology | 34.90% | $17.61B |
| 11 | STX | Seagate Technology Holdings plc | Technology | 31.93% | $143.37B |
| 12 | IDXX | IDEXX Laboratories, Inc. | Healthcare | 31.62% | $44.15B |
| 13 | LYFT | Lyft, Inc. | Technology | 31.49% | $6.41B |
| 14 | AAPL | Apple Inc. | Technology | 31.18% | $5.07T |
| 15 | LRCX | Lam Research Corporation | Technology | 30.88% | $287.95B |
| 16 | NTNX | Nutanix, Inc. | Technology | 29.70% | $19.10B |
| 17 | BYD | Boyd Gaming Corporation | Consumer Cyclical | 28.04% | $5.21B |
| 18 | JOYY | JOYY Inc. | Communication Services | 27.78% | $4.08B |
| 19 | DECK | Deckers Outdoor Corporation | Consumer Cyclical | 27.77% | $11.04B |
| 20 | MA | Mastercard Incorporated | Financial Services | 27.60% | $546.28B |
| 21 | EXEL | Exelixis, Inc. | Healthcare | 27.51% | $15.99B |
| 22 | KLAC | KLA Corporation | Technology | 26.91% | $190.02B |
| 23 | MANH | Manhattan Associates, Inc. | Technology | 26.20% | $13.89B |
| 24 | ACAD | Acadia Pharmaceuticals Inc. | Healthcare | 25.00% | $3.40B |
| 25 | LUXE | LuxExperience B.V. | Consumer Cyclical | 24.98% | $1.31B |
| 26 | FAST | Fastenal Company | Industrials | 24.90% | $59.56B |
| 27 | VISN | Vistance Networks, Inc. | Technology | 24.37% | $1.41B |
| 28 | ADBE | Adobe Inc. | Technology | 24.17% | $102.68B |
| 29 | PEGA | Pegasystems Inc. | Technology | 24.11% | $5.96B |
| 30 | GFI | Gold Fields Limited | Basic Materials | 23.94% | $30.82B |
| 31 | PTCT | PTC Therapeutics, Inc. | Healthcare | 23.55% | $5.06B |
| 32 | MTD | Mettler-Toledo International Inc. | Healthcare | 23.41% | $33.47B |
| 33 | BRBR | BellRing Brands, Inc. | Consumer Defensive | 22.98% | $1.11B |
| 34 | NVR | NVR, Inc. | Consumer Cyclical | 22.88% | $15.95B |
| 35 | MEDP | Medpace Holdings, Inc. | Healthcare | 22.84% | $18.72B |
| 36 | TPR | Tapestry, Inc. | Consumer Cyclical | 22.83% | $21.90B |
| 37 | HRB | H&R Block, Inc. | Consumer Cyclical | 22.53% | $6.09B |
| 38 | GOOG | Alphabet Inc. | Communication Services | 22.20% | $3.88T |
| 39 | LOPE | Grand Canyon Education, Inc. | Consumer Defensive | 21.78% | $4.24B |
| 40 | FIZZ | National Beverage Corp. | Consumer Defensive | 21.56% | $3.38B |
| 41 | TSM | Taiwan Semiconductor Manufacturing Company Limited | Technology | 21.37% | $2.17T |
| 42 | BKE | The Buckle, Inc. | Consumer Cyclical | 21.16% | $2.40B |
| 43 | MSCI | MSCI Inc. | Financial Services | 21.08% | $44.76B |
| 44 | AU | AngloGold Ashanti plc | Basic Materials | 21.05% | $42.28B |
| 45 | DUOL | Duolingo, Inc. | Technology | 20.78% | $6.69B |
| 46 | CRDO | Credo Technology Group Holding Ltd | Technology | 20.57% | $27.68B |
| 47 | MLI | Mueller Industries, Inc. | Industrials | 20.50% | $11.79B |
| 48 | BLBD | Blue Bird Corporation | Industrials | 20.43% | $1.97B |
| 49 | SCCO | Southern Copper Corporation | Basic Materials | 20.27% | $156.21B |
| 50 | INFY | Infosys Limited | Technology | 20.16% | $50.02B |
| 51 | V | Visa Inc. | Financial Services | 20.13% | $765.81B |
| 52 | WSM | Williams-Sonoma, Inc. | Consumer Cyclical | 20.11% | $29.74B |
| 53 | GFL | GFL Environmental Inc. | Industrials | 19.87% | $19.86B |
| 54 | MO | Altria Group, Inc. | Consumer Defensive | 19.84% | $124.08B |
| 55 | NFLX | Netflix, Inc. | Communication Services | 19.75% | $274.20B |
| 56 | LII | Lennox International Inc. | Industrials | 19.74% | $13.00B |
| 57 | AMAT | Applied Materials, Inc. | Technology | 19.28% | $299.38B |
| 58 | KGC | Kinross Gold Corporation | Basic Materials | 19.26% | $26.50B |
| 59 | IESC | IES Holdings, Inc. | Industrials | 19.18% | $9.06B |
| 60 | MNST | Monster Beverage Corporation | Consumer Defensive | 19.08% | $90.49B |
| 61 | GWW | W.W. Grainger, Inc. | Industrials | 19.04% | $63.58B |
| 62 | YUM | Yum! Brands, Inc. | Consumer Cyclical | 19.02% | $40.85B |
| 63 | ASML | ASML Holding N.V. | Technology | 19.00% | $605.80B |
| 64 | CTAS | Cintas Corporation | Industrials | 18.99% | $88.98B |
| 65 | ITW | Illinois Tool Works Inc. | Industrials | 18.99% | $78.53B |
| 66 | ODFL | Old Dominion Freight Line, Inc. | Industrials | 18.71% | $37.88B |
| 67 | FORTY | Formula Systems (1985) Ltd. | Technology | 18.67% | $1.79B |
| 68 | LULU | lululemon athletica inc. | Consumer Cyclical | 18.67% | $11.47B |
| 69 | HMY | Harmony Gold Mining Company Limited | Basic Materials | 18.56% | $9.93B |
| 70 | VAL | Valaris Limited | Energy | 18.53% | $6.76B |
| 71 | INCY | Incyte Corporation | Healthcare | 18.49% | $23.45B |
| 72 | LOGI | Logitech International S.A. | Technology | 18.48% | $15.74B |
| 73 | BKNG | Booking Holdings Inc. | Consumer Cyclical | 18.47% | $117.09B |
| 74 | APAM | Artisan Partners Asset Management Inc. | Financial Services | 18.41% | $2.38B |
| 75 | LLY | Eli Lilly and Company | Healthcare | 18.35% | $1.14T |
| 76 | PLTR | Palantir Technologies Inc. | Technology | 18.26% | $472.80B |
| 77 | FHI | Federated Hermes, Inc. | Financial Services | 18.09% | $4.24B |
| 78 | ANET | Arista Networks, Inc. | Technology | 18.05% | $217.40B |
| 79 | WNC | Wabash National Corporation | Industrials | 18.05% | $524.29M |
| 80 | DBX | Dropbox, Inc. | Technology | 17.87% | $8.23B |
| 81 | FTNT | Fortinet, Inc. | Technology | 17.84% | $132.06B |
| 82 | ATAT | Atour Lifestyle Holdings Limited | Consumer Cyclical | 17.68% | $4.29B |
| 83 | TREE | LendingTree, Inc. | Financial Services | 17.68% | $376.40M |
| 84 | MSFT | Microsoft Corporation | Technology | 17.64% | $3.89T |
| 85 | INDV | Indivior Pharmaceuticals, Inc. | Healthcare | 17.49% | $4.07B |
| 86 | AOS | A. O. Smith Corporation | Industrials | 17.38% | $8.38B |
| 87 | EAT | Brinker International, Inc. | Consumer Cyclical | 17.30% | $7.65B |
| 88 | ZTS | Zoetis Inc. | Healthcare | 17.26% | $33.48B |
| 89 | CHE | Chemed Corporation | Healthcare | 17.24% | $6.70B |
| 90 | SGHC | Super Group (SGHC) Limited | Consumer Cyclical | 17.21% | $5.51B |
| 91 | CQP | Cheniere Energy Partners, L.P. | Energy | 17.13% | $32.02B |
| 92 | CMG | Chipotle Mexican Grill, Inc. | Consumer Cyclical | 17.07% | $34.82B |
| 93 | RMD | ResMed Inc. | Healthcare | 16.99% | $35.56B |
| 94 | UTHR | United Therapeutics Corporation | Healthcare | 16.94% | $25.20B |
| 95 | ROL | Rollins, Inc. | Consumer Cyclical | 16.77% | $16.75B |
| 96 | ERIE | Erie Indemnity Company | Financial Services | 16.67% | $13.26B |
| 97 | CRUS | Cirrus Logic, Inc. | Technology | 16.65% | $5.63B |
| 98 | RACE | Ferrari N.V. | Consumer Cyclical | 16.59% | $68.95B |
| 99 | EXPD | Expeditors International of Washington, Inc. | Industrials | 16.56% | $25.51B |
| 100 | META | Meta Platforms, Inc. | Communication Services | 16.52% | $1.64T |
No companies match this search.
How this ranking is built
Companies are ranked by return on assets as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $1 billion in annual revenue or above, so a small filer with a freak ratio cannot top the list.
- Value range: Only figures above 0% and up to 100% qualify.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.
Frequently asked questions
How is return on assets different from return on equity?
The denominator is the difference. Return on equity divides profit by shareholders' capital alone, while return on assets divides it by everything the company controls, including what was funded with debt. Borrowing can lift return on equity without changing return on assets at all, so the gap between the two shows how much borrowing contributes. A company with similar figures on both funds itself mostly with equity.
Can a high return on assets be misleading?
It can. Net income includes one-time gains, so an asset sale or a tax item lifts the ratio for a single year. A base shrunk by earlier write-downs raises it too. And businesses whose main assets, software, brands or networks, never reach the balance sheet earn high returns almost mechanically. Reading several years, and comparing companies with similar models, filters most of these effects out.
Why are some large companies missing from this ranking?
Companies that report their financial statements in a currency other than dollars are filtered out, because their assets would be measured against a market value quoted in dollars and the resulting ratio would be meaningless. The same filter removes rows where reported total assets and market value are wildly inconsistent, which usually signals a reporting-unit mismatch rather than an unusual business model.