Top Technology Stocks by Return on Assets
Top technology companies ranked by return on assets, latest annual filings.
What Return on Assets Means for Technology Companies
Return on assets divides net income by total assets, showing the profit produced by every dollar of what a company controls. In technology the assets that generate the money, code already written, network effects and brand, mostly never reach the balance sheet, so the denominator stays small while the earnings do not. That accounting gap is why software and platform businesses post the highest returns on assets in the market, and why the sector's own hardware makers look ordinary beside them.
Why It Matters Less in Technology
A high figure here mostly reports how little of the business sits on the balance sheet, not how well it is run. Hardware manufacturers, semiconductor firms with fabs and data-center owners carry real plant, so they score lower than a software peer of similar quality, and the ranking partly sorts the sector by asset intensity. Read within a single model, though, the ratio still separates durable pricing and disciplined spending from growth bought with capital.
What to Read Alongside
Pair return on assets with Return on Equity to see what borrowing adds, Net Margin to separate pricing power from asset turnover, and Total Assets to check the size of the base behind the ratio.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | WDC | Western Digital Corporation | Technology | 67.99% | $133.31B |
| 2 | VRSN | VeriSign, Inc. | Technology | 62.27% | $27.69B |
| 3 | NVDA | NVIDIA Corporation | Technology | 58.06% | $5.22T |
| 4 | SNDK | Sandisk Corporation | Technology | 50.80% | $181.47B |
| 5 | UI | Ubiquiti Inc. | Technology | 43.69% | $35.38B |
| 6 | MU | Micron Technology, Inc. | Technology | 43.38% | $1.02T |
| 7 | FICO | Fair Isaac Corporation | Technology | 34.90% | $15.29B |
| 8 | STX | Seagate Technology Holdings plc | Technology | 31.93% | $146.49B |
| 9 | LYFT | Lyft, Inc. | Technology | 31.49% | $6.46B |
| 10 | AAPL | Apple Inc. | Technology | 31.18% | $5.02T |
| 11 | LRCX | Lam Research Corporation | Technology | 30.88% | $297.21B |
| 12 | NTNX | Nutanix, Inc. | Technology | 29.70% | $19.67B |
| 13 | KLAC | KLA Corporation | Technology | 26.91% | $194.72B |
| 14 | MANH | Manhattan Associates, Inc. | Technology | 26.20% | $13.78B |
| 15 | VISN | Vistance Networks, Inc. | Technology | 24.37% | $1.45B |
| 16 | ADBE | Adobe Inc. | Technology | 24.17% | $100.65B |
| 17 | PEGA | Pegasystems Inc. | Technology | 24.11% | $6.01B |
| 18 | TSM | Taiwan Semiconductor Manufacturing Company Limited | Technology | 21.37% | $2.20T |
| 19 | DUOL | Duolingo, Inc. | Technology | 20.78% | $6.48B |
| 20 | CRDO | Credo Technology Group Holding Ltd | Technology | 20.57% | $28.41B |
| 21 | INFY | Infosys Limited | Technology | 20.16% | $50.35B |
| 22 | AMAT | Applied Materials, Inc. | Technology | 19.28% | $307.59B |
| 23 | ASML | ASML Holding N.V. | Technology | 19.00% | $613.16B |
| 24 | FORTY | Formula Systems (1985) Ltd. | Technology | 18.67% | $1.99B |
| 25 | LOGI | Logitech International S.A. | Technology | 18.48% | $15.78B |
| 26 | PLTR | Palantir Technologies Inc. | Technology | 18.26% | $477.82B |
| 27 | ANET | Arista Networks, Inc. | Technology | 18.05% | $223.54B |
| 28 | DBX | Dropbox, Inc. | Technology | 17.87% | $8.20B |
| 29 | FTNT | Fortinet, Inc. | Technology | 17.84% | $134.51B |
| 30 | MSFT | Microsoft Corporation | Technology | 17.64% | $3.95T |
| 31 | CRUS | Cirrus Logic, Inc. | Technology | 16.65% | $5.66B |
| 32 | UBER | Uber Technologies, Inc. | Technology | 16.27% | $135.07B |
| 33 | JKHY | Jack Henry & Associates, Inc. | Technology | 15.98% | $11.38B |
| 34 | ZM | Zoom Communications, Inc. | Technology | 15.89% | $28.61B |
| 35 | GRMN | Garmin Ltd. | Technology | 15.13% | $56.49B |
| 36 | MPWR | Monolithic Power Systems, Inc. | Technology | 14.82% | $57.36B |
| 37 | EXLS | ExlService Holdings, Inc. | Technology | 14.75% | $6.33B |
| 38 | TXN | Texas Instruments Incorporated | Technology | 14.46% | $272.26B |
| 39 | NXT | Nextpower Inc. | Technology | 14.38% | $11.60B |
| 40 | CHKP | Check Point Software Technologies Ltd. | Technology | 13.54% | $16.30B |
| 41 | AVGO | Broadcom Inc. | Technology | 13.52% | $1.57T |
| 42 | TER | Teradyne, Inc. | Technology | 13.24% | $48.31B |
| 43 | DLO | DLocal Limited | Technology | 12.77% | $4.25B |
| 44 | BR | Broadridge Financial Solutions, Inc. | Technology | 12.57% | $20.45B |
| 45 | ESE | ESCO Technologies Inc. | Technology | 12.41% | $6.10B |
| 46 | INTU | Intuit Inc. | Technology | 12.41% | $90.83B |
| 47 | FN | Fabrinet | Technology | 12.09% | $11.65B |
| 48 | NICE | NICE Ltd. | Technology | 11.99% | $7.17B |
| 49 | MRVL | Marvell Technology, Inc. | Technology | 11.98% | $210.10B |
| 50 | NTAP | NetApp, Inc. | Technology | 11.88% | $43.62B |
| 51 | APH | Amphenol Corporation | Technology | 11.78% | $185.61B |
| 52 | ESTC | Elastic N.V. | Technology | 11.67% | $11.16B |
| 53 | SABR | Sabre Corporation | Technology | 11.65% | $661.88M |
| 54 | CLS | Celestica Inc. | Technology | 11.54% | $31.11B |
| 55 | FSLR | First Solar, Inc. | Technology | 11.47% | $18.07B |
| 56 | GCT | GigaCloud Technology Inc. | Technology | 11.42% | $2.12B |
| 57 | ACN | Accenture plc | Technology | 11.37% | $151.29B |
| 58 | MSI | Motorola Solutions, Inc. | Technology | 11.11% | $80.37B |
| 59 | PTC | PTC Inc. | Technology | 11.09% | $21.10B |
| 60 | QCOM | QUALCOMM Incorporated | Technology | 11.05% | $191.78B |
| 61 | FFIV | F5, Inc. | Technology | 10.96% | $26.14B |
| 62 | CDNS | Cadence Design Systems, Inc. | Technology | 10.92% | $88.72B |
| 63 | GDDY | GoDaddy Inc. | Technology | 10.89% | $13.91B |
| 64 | PAYX | Paychex, Inc. | Technology | 10.88% | $41.19B |
| 65 | TOST | Toast, Inc. | Technology | 10.87% | $18.57B |
| 66 | CTSH | Cognizant Technology Solutions Corporation | Technology | 10.78% | $31.23B |
| 67 | LDOS | Leidos Holdings, Inc. | Technology | 10.73% | $17.55B |
| 68 | CSCO | Cisco Systems, Inc. | Technology | 10.23% | $434.63B |
| 69 | SAP | SAP SE | Technology | 10.18% | $275.34B |
| 70 | YMM | Full Truck Alliance Co. Ltd. | Technology | 10.06% | $8.66B |
| 71 | PAY | Paymentus Holdings, Inc. | Technology | 10.02% | $4.10B |
| 72 | TASK | TaskUs, Inc. | Technology | 9.73% | $782.09M |
| 73 | G | Genpact Limited | Technology | 9.46% | $6.77B |
| 74 | WIT | Wipro Limited | Technology | 9.35% | $20.68B |
| 75 | VNT | Vontier Corporation | Technology | 9.30% | $4.68B |
| 76 | ADSK | Autodesk, Inc. | Technology | 9.02% | $52.14B |
| 77 | IT | Gartner, Inc. | Technology | 9.02% | $14.59B |
| 78 | PATH | UiPath, Inc. | Technology | 8.88% | $7.45B |
| 79 | ARM | Arm Holdings plc | Technology | 8.45% | $238.54B |
| 80 | SHOP | Shopify Inc. | Technology | 8.10% | $216.39B |
| 81 | ITRI | Itron, Inc. | Technology | 8.09% | $3.84B |
| 82 | BSY | Bentley Systems, Incorporated | Technology | 7.82% | $12.04B |
| 83 | EPAM | EPAM Systems, Inc. | Technology | 7.70% | $7.10B |
| 84 | NXPI | NXP Semiconductors N.V. | Technology | 7.61% | $61.99B |
| 85 | KEYS | Keysight Technologies, Inc. | Technology | 7.52% | $55.51B |
| 86 | BOX | Box, Inc. | Technology | 7.46% | $5.93B |
| 87 | SMCI | Super Micro Computer, Inc. | Technology | 7.45% | $21.48B |
| 88 | PLUS | ePlus inc. | Technology | 7.36% | $2.52B |
| 89 | TEL | TE Connectivity plc | Technology | 7.34% | $61.92B |
| 90 | DOCU | DocuSign, Inc. | Technology | 7.31% | $15.87B |
| 91 | TDC | Teradata Corporation | Technology | 7.31% | $3.24B |
| 92 | ACIW | ACI Worldwide, Inc. | Technology | 7.30% | $5.62B |
| 93 | UMC | United Microelectronics Corporation | Technology | 7.08% | $48.10B |
| 94 | ADP | Automatic Data Processing, Inc. | Technology | 6.98% | $119.32B |
| 95 | IBM | International Business Machines Corporation | Technology | 6.97% | $239.53B |
| 96 | NOW | ServiceNow, Inc. | Technology | 6.71% | $163.54B |
| 97 | BDC | Belden Inc. | Technology | 6.70% | $4.02B |
| 98 | SAIC | Science Applications International Corporation | Technology | 6.69% | $6.22B |
| 99 | CDW | CDW Corporation | Technology | 6.65% | $20.41B |
| 100 | CRM | Salesforce, Inc. | Technology | 6.64% | $203.78B |
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
Why do technology companies show the highest returns on assets?
Software and platform businesses earn their money from things accounting rules keep off the balance sheet: code already expensed as research, network effects, and brand built through marketing. Total assets stay modest while net income grows, and the ratio rises as a result. The number is real, but it describes an asset-light model as much as it describes execution, which is why comparing a software firm with a chipmaker on this measure says more about the two models than about management.
Does a low return on assets mean a hardware company is weaker?
Not on its own. Fabrication plants, test equipment and inventory sit on the balance sheet at cost, so a semiconductor or device maker carries a far larger base than a software firm earning the same profit. The ratio falls for structural reasons rather than for poor execution. Comparing hardware names against each other, and reading the figure across a full cycle rather than in one year, keeps the accounting difference from being mistaken for a quality difference.