Top Technology Stocks by Return on Equity
Top technology companies ranked by return on equity, latest annual filings.
What Return on Equity Means for Technology Companies
Return on Equity divides net income by shareholder equity and gauges how efficiently capital gets turned into profit. In technology, software-centric firms often post elevated ratios because the equity base grows slowly relative to fast-expanding earnings, and capital requirements to scale a platform are modest. Once network effects and retention compound, profit rises faster than the book value tied up in the business.
Why It Matters Less in Technology
High tech Return on Equity often reflects durable platform economics that generate profit with little incremental capital, which is a genuinely distinguishing characteristic. Yet the ratio is easily inflated by aggressive buybacks that shrink the equity denominator even when earnings are flat, and stock-based compensation charges, a significant expense for many tech firms, complicate the book value that sits in the denominator, so the ratio deserves to be decomposed rather than taken at face value.
What to Read Alongside
Pair Return on Equity with Net Income to see the numerator in absolute terms, Long-term Debt to check how leverage effects shape the ratio, and Gross Margin to judge the underlying earnings quality.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | GDDY | GoDaddy Inc. | Technology | 406.79% | $13.87B |
| 2 | IT | Gartner, Inc. | Technology | 227.95% | $11.99B |
| 3 | NTNX | Nutanix, Inc. | Technology | 214.48% | $15.92B |
| 4 | FTNT | Fortinet, Inc. | Technology | 149.77% | $87.31B |
| 5 | STX | Seagate Technology Holdings plc | Technology | 146.93% | $105.83B |
| 6 | BLKB | Blackbaud, Inc. | Technology | 135.17% | $2.43B |
| 7 | AAPL | Apple Inc. | Technology | 117.92% | $4.98T |
| 8 | WDC | Western Digital Corporation | Technology | 106.32% | $98.74B |
| 9 | NTAP | NetApp, Inc. | Technology | 94.45% | $33.23B |
| 10 | MSI | Motorola Solutions, Inc. | Technology | 89.38% | $85.07B |
| 11 | LYFT | Lyft, Inc. | Technology | 86.88% | $6.48B |
| 12 | NVDA | NVIDIA Corporation | Technology | 76.33% | $4.51T |
| 13 | KLAC | KLA Corporation | Technology | 76.08% | $180.45B |
| 14 | ADP | Automatic Data Processing, Inc. | Technology | 73.18% | $119.75B |
| 15 | SNDK | Sandisk Corporation | Technology | 72.66% | $118.82B |
| 16 | MANH | Manhattan Associates, Inc. | Technology | 69.88% | $14.68B |
| 17 | UI | Ubiquiti Inc. | Technology | 66.68% | $35.85B |
| 18 | JBL | Jabil Inc. | Technology | 64.60% | $24.62B |
| 19 | MU | Micron Technology, Inc. | Technology | 61.40% | $780.68B |
| 20 | ADBE | Adobe Inc. | Technology | 61.34% | $93.14B |
| 21 | LRCX | Lam Research Corporation | Technology | 58.26% | $250.84B |
| 22 | TDC | Teradata Corporation | Technology | 56.52% | $2.96B |
| 23 | PEGA | Pegasystems Inc. | Technology | 49.97% | $5.30B |
| 24 | ASML | ASML Holding N.V. | Technology | 49.00% | $549.12B |
| 25 | EXTR | Extreme Networks, Inc. | Technology | 47.54% | $3.15B |
| 26 | PAYX | Paychex, Inc. | Technology | 47.12% | $41.67B |
| 27 | QCOM | QUALCOMM Incorporated | Technology | 44.83% | $176.99B |
| 28 | FORTY | Formula Systems (1985) Ltd. | Technology | 44.82% | $1.69B |
| 29 | CDW | CDW Corporation | Technology | 40.93% | $19.60B |
| 30 | NATL | NCR Atleos Corporation | Technology | 40.20% | $3.49B |
| 31 | ORCL | Oracle Corporation | Technology | 40.20% | $361.97B |
| 32 | BR | Broadridge Financial Solutions, Inc. | Technology | 39.58% | $21.54B |
| 33 | CLS | Celestica Inc. | Technology | 37.56% | $26.06B |
| 34 | GEN | Gen Digital Inc. | Technology | 37.27% | $17.67B |
| 35 | UBER | Uber Technologies, Inc. | Technology | 37.18% | $140.05B |
| 36 | ADSK | Autodesk, Inc. | Technology | 36.91% | $54.70B |
| 37 | CHKP | Check Point Software Technologies Ltd. | Technology | 36.67% | $14.72B |
| 38 | PENG | Penguin Solutions, Inc. | Technology | 34.68% | $2.14B |
| 39 | DLO | DLocal Limited | Technology | 34.57% | $4.00B |
| 40 | AMAT | Applied Materials, Inc. | Technology | 34.28% | $264.04B |
| 41 | INFY | Infosys Limited | Technology | 33.85% | $50.63B |
| 42 | VNT | Vontier Corporation | Technology | 32.64% | $5.61B |
| 43 | IBM | International Business Machines Corporation | Technology | 32.45% | $231.55B |
| 44 | LOGI | Logitech International S.A. | Technology | 32.16% | $13.65B |
| 45 | APH | Amphenol Corporation | Technology | 31.84% | $184.18B |
| 46 | TSM | Taiwan Semiconductor Manufacturing Company Limited | Technology | 31.70% | $1.95T |
| 47 | DUOL | Duolingo, Inc. | Technology | 30.74% | $7.57B |
| 48 | TXN | Texas Instruments Incorporated | Technology | 30.73% | $253.58B |
| 49 | MSFT | Microsoft Corporation | Technology | 30.23% | $3.94T |
| 50 | LDOS | Leidos Holdings, Inc. | Technology | 29.45% | $16.19B |
| 51 | PAYP | PayPay Corporation | Technology | 29.18% | $10.10B |
| 52 | ESTC | Elastic N.V. | Technology | 28.81% | $9.04B |
| 53 | AVGO | Broadcom Inc. | Technology | 28.45% | $1.40T |
| 54 | ANET | Arista Networks, Inc. | Technology | 28.39% | $215.79B |
| 55 | GCT | GigaCloud Technology Inc. | Technology | 28.28% | $2.08B |
| 56 | PICS | PicS N.V. | Technology | 28.06% | $888.97M |
| 57 | CPAY | Corpay, Inc. | Technology | 27.55% | $29.12B |
| 58 | EXLS | ExlService Holdings, Inc. | Technology | 27.50% | $6.51B |
| 59 | ACN | Accenture plc | Technology | 26.51% | $153.89B |
| 60 | CSCO | Cisco Systems, Inc. | Technology | 26.38% | $370.01B |
| 61 | PAYC | Paycom Software, Inc. | Technology | 26.19% | $10.51B |
| 62 | ERIC | Telefonaktiebolaget LM Ericsson (publ) | Technology | 25.95% | $33.25B |
| 63 | WSE | Wise Group plc | Technology | 25.90% | $10.76B |
| 64 | NXT | Nextpower Inc. | Technology | 25.10% | $15.80B |
| 65 | WEX | WEX Inc. | Technology | 24.63% | $5.99B |
| 66 | JKHY | Jack Henry & Associates, Inc. | Technology | 24.50% | $12.15B |
| 67 | INTU | Intuit Inc. | Technology | 24.04% | $91.26B |
| 68 | SAIC | Science Applications International Corporation | Technology | 23.87% | $6.13B |
| 69 | EEFT | Euronet Worldwide, Inc. | Technology | 23.67% | $2.60B |
| 70 | BSY | Bentley Systems, Incorporated | Technology | 23.36% | $13.50B |
| 71 | CRDO | Credo Technology Group Holding Ltd | Technology | 22.89% | $22.65B |
| 72 | PCTY | Paylocity Holding Corporation | Technology | 22.08% | $9.03B |
| 73 | PLTR | Palantir Technologies Inc. | Technology | 22.00% | $386.44B |
| 74 | G | Genpact Limited | Technology | 21.67% | $7.07B |
| 75 | STNE | StoneCo Ltd. | Technology | 21.27% | $1.73B |
| 76 | CDNS | Cadence Design Systems, Inc. | Technology | 20.26% | $87.78B |
| 77 | NXPI | NXP Semiconductors N.V. | Technology | 20.10% | $62.58B |
| 78 | TER | Teradyne, Inc. | Technology | 19.82% | $34.07B |
| 79 | CRUS | Cirrus Logic, Inc. | Technology | 19.47% | $5.66B |
| 80 | ESE | ESCO Technologies Inc. | Technology | 19.42% | $5.97B |
| 81 | ZM | Zoom Communications, Inc. | Technology | 19.37% | $26.23B |
| 82 | FFIV | F5, Inc. | Technology | 19.28% | $17.66B |
| 83 | FN | Fabrinet | Technology | 19.27% | $11.68B |
| 84 | PTC | PTC Inc. | Technology | 19.18% | $21.19B |
| 85 | BDC | Belden Inc. | Technology | 18.78% | $3.83B |
| 86 | MRVL | Marvell Technology, Inc. | Technology | 18.66% | $127.05B |
| 87 | OSIS | OSI Systems, Inc. | Technology | 18.57% | $3.09B |
| 88 | GRMN | Garmin Ltd. | Technology | 18.54% | $55.03B |
| 89 | MPWR | Monolithic Power Systems, Inc. | Technology | 17.60% | $58.06B |
| 90 | ITRI | Itron, Inc. | Technology | 17.54% | $4.32B |
| 91 | FLEX | Flex Ltd. | Technology | 17.11% | $25.78B |
| 92 | TASK | TaskUs, Inc. | Technology | 17.05% | $833.84M |
| 93 | PGY | Pagaya Technologies Ltd. | Technology | 16.96% | $1.47B |
| 94 | KD | Kyndryl Holdings, Inc. | Technology | 16.85% | $3.55B |
| 95 | DOX | Amdocs Limited | Technology | 16.47% | $4.39B |
| 96 | GIB | CGI Inc. | Technology | 16.13% | $17.25B |
| 97 | DOCU | DocuSign, Inc. | Technology | 16.12% | $14.51B |
| 98 | TOST | Toast, Inc. | Technology | 16.10% | $20.14B |
| 99 | SAP | SAP SE | Technology | 16.06% | $269.45B |
| 100 | FSLR | First Solar, Inc. | Technology | 16.02% | $21.62B |
No companies match this search.
Companies with return on equity above 500%, or shareholder equity below 1% of total assets, are excluded: when equity is near zero the ratio becomes unstable and unrepresentative. Ratio rankings also require at least $1B in annual revenue.
How this ranking is built
Companies are ranked by return on equity 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 500% qualify.
- Market cap: stated at each company's latest close, which is newer than the annual figure ranked here.
- 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 mature software firms often show higher Return on Equity than hardware peers?
Software businesses can scale with minimal incremental capital because code distribution costs almost nothing once the platform exists. Hardware firms must commit capital to manufacturing, inventory, and physical distribution, which inflates the equity base relative to earnings. The structural difference shows up clearly in Return on Equity comparisons, where asset-light software firms often sit well above hardware-centric peers even when underlying profit dollars are similar.
How do share buybacks distort technology Return on Equity?
Large tech firms have historically returned substantial capital through repurchases, which reduces shareholder equity and mechanically lifts Return on Equity whether or not earnings actually grow. A firm showing a rising ratio from repeated buybacks may look more efficient without any real operational improvement. Reading Return on Equity alongside trailing earnings growth and net income absolute levels shows whether the ratio reflects genuine profitability or financial engineering.
Is Return on Equity a reliable metric for unprofitable growth-stage tech companies?
Not really. Firms still scaling through elevated investment often report net losses or minimal profits, producing negative or very low Return on Equity figures that say little about eventual economics. Growth-stage tech is better read through gross margin trajectory, customer acquisition economics, and retention metrics until the business reaches sustained profitability. Return on Equity becomes informative later, once margins and capital structure have stabilized and the ratio genuinely reflects operating efficiency.