Top Healthcare Stocks by Total Assets
Top healthcare companies ranked by total assets, latest annual filings.
What Total Assets Means for Healthcare Companies
Total assets covers three different businesses inside healthcare. Pharmaceutical majors carry large intangibles for drugs and licenses bought from other developers, device makers carry plants and inventory much like industrial firms, and hospital groups and insurers carry receivables from payers alongside reserves held against future claims. Each figure is a book value taken from the latest annual accounts, so one ranking lines up balance sheets assembled for entirely different reasons.
Why It Matters Less in Healthcare
A large total assets figure in healthcare usually records what a company bought rather than what it discovered. After a major acquisition, goodwill and acquired intangibles can make up most of the total, and those balances are tested for impairment rather than depreciated, so they hold their value on paper until they suddenly do not. Meanwhile a research pipeline, the asset that drives long-run earnings, appears nowhere in the figure at all.
What to Read Alongside
Pair total assets with Return on Assets to see what the base earns, Revenue for the activity it supports, and Long-Term Debt to see how much of it was borrowed to fund deals.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | UNH | UnitedHealth Group Incorporated | Healthcare | $309.58B | $368.64B |
| 2 | CVS | CVS Health Corporation | Healthcare | $253.54B | $118.34B |
| 3 | PFE | Pfizer Inc. | Healthcare | $208.16B | $169.79B |
| 4 | JNJ | Johnson & Johnson | Healthcare | $199.21B | $641.07B |
| 5 | CI | The Cigna Group | Healthcare | $157.92B | $80.80B |
| 6 | SNY | Sanofi | Healthcare | $148.82B | $100.13B |
| 7 | MRK | Merck & Co., Inc. | Healthcare | $136.87B | $346.91B |
| 8 | ABBV | AbbVie Inc. | Healthcare | $133.96B | $506.70B |
| 9 | ELV | Elevance Health, Inc. | Healthcare | $121.49B | $93.54B |
| 10 | AZN | AstraZeneca PLC | Healthcare | $114.07B | $266.85B |
| 11 | LLY | Eli Lilly and Company | Healthcare | $112.48B | $1.14T |
| 12 | NVS | Novartis AG | Healthcare | $110.95B | $292.35B |
| 13 | TMO | Thermo Fisher Scientific Inc. | Healthcare | $110.34B | $253.24B |
| 14 | TAK | Takeda Pharmaceutical Company Limited | Healthcare | $95.05B | $65.27B |
| 15 | MDT | Medtronic plc | Healthcare | $93.03B | $121.25B |
| 16 | AMGN | Amgen Inc. | Healthcare | $90.59B | $240.38B |
| 17 | BMY | Bristol-Myers Squibb Company | Healthcare | $90.04B | $125.85B |
| 18 | ABT | Abbott Laboratories | Healthcare | $86.71B | $181.48B |
| 19 | DHR | Danaher Corporation | Healthcare | $83.46B | $163.77B |
| 20 | MCK | McKesson Corporation | Healthcare | $82.32B | $115.76B |
| 21 | GSK | GSK plc | Healthcare | $82.19B | $102.38B |
| 22 | CNC | Centene Corporation | Healthcare | $76.75B | $33.61B |
| 23 | COR | Cencora, Inc. | Healthcare | $76.59B | $62.97B |
| 24 | HCA | HCA Healthcare, Inc. | Healthcare | $60.72B | $100.73B |
| 25 | GILD | Gilead Sciences, Inc. | Healthcare | $59.02B | $196.77B |
| 26 | CAH | Cardinal Health, Inc. | Healthcare | $57.30B | $58.25B |
| 27 | BDX | Becton, Dickinson and Company | Healthcare | $55.33B | $53.49B |
| 28 | HUM | Humana Inc. | Healthcare | $48.91B | $50.10B |
| 29 | SYK | Stryker Corporation | Healthcare | $47.84B | $117.42B |
| 30 | HLN | Haleon plc | Healthcare | $43.88B | $44.86B |
| 31 | BSX | Boston Scientific Corporation | Healthcare | $43.67B | $66.06B |
| 32 | TEVA | Teva Pharmaceutical Industries Limited | Healthcare | $40.75B | $46.59B |
| 33 | REGN | Regeneron Pharmaceuticals, Inc. | Healthcare | $40.56B | $83.15B |
| 34 | MDLN | Medline Inc. | Healthcare | $38.48B | $44.29B |
| 35 | VTRS | Viatris Inc. | Healthcare | $37.19B | $21.01B |
| 36 | GEHC | GE HealthCare Technologies Inc. | Healthcare | $36.91B | $32.51B |
| 37 | FMS | Fresenius Medical Care AG | Healthcare | $36.38B | $12.11B |
| 38 | PHG | Koninklijke Philips N.V. | Healthcare | $31.62B | $25.97B |
| 39 | ALC | Alcon Inc. | Healthcare | $31.55B | $33.83B |
| 40 | IQV | IQVIA Holdings Inc. | Healthcare | $29.94B | $45.03B |
| 41 | THC | Tenet Healthcare Corporation | Healthcare | $29.68B | $21.66B |
| 42 | BIIB | Biogen Inc. | Healthcare | $29.44B | $37.27B |
| 43 | BHC | Bausch Health Companies Inc. | Healthcare | $26.37B | $2.37B |
| 44 | BNTX | BioNTech SE | Healthcare | $25.81B | $21.82B |
| 45 | VRTX | Vertex Pharmaceuticals Incorporated | Healthcare | $25.64B | $131.16B |
| 46 | ZBH | Zimmer Biomet Holdings, Inc. | Healthcare | $23.09B | $18.59B |
| 47 | GRFS | Grifols, S.A. | Healthcare | $22.16B | $5.39B |
| 48 | ISRG | Intuitive Surgical, Inc. | Healthcare | $20.46B | $159.55B |
| 49 | BAX | Baxter International Inc. | Healthcare | $20.05B | $13.07B |
| 50 | RPRX | Royalty Pharma plc | Healthcare | $19.62B | $28.84B |
| 51 | LH | Labcorp Holdings Inc. | Healthcare | $18.39B | $26.75B |
| 52 | DVA | DaVita Inc. | Healthcare | $17.48B | $11.74B |
| 53 | ICLR | ICON Public Limited Company | Healthcare | $16.27B | $14.18B |
| 54 | DGX | Quest Diagnostics Incorporated | Healthcare | $16.23B | $26.82B |
| 55 | MOH | Molina Healthcare, Inc. | Healthcare | $15.56B | $10.65B |
| 56 | UHS | Universal Health Services, Inc. | Healthcare | $15.53B | $10.95B |
| 57 | ZTS | Zoetis Inc. | Healthcare | $15.49B | $33.46B |
| 58 | SOLV | Solventum Corporation | Healthcare | $14.29B | $14.61B |
| 59 | BLCO | Bausch + Lomb Corporation | Healthcare | $14.02B | $6.28B |
| 60 | EW | Edwards Lifesciences Corporation | Healthcare | $13.70B | $52.20B |
| 61 | ELAN | Elanco Animal Health Incorporated | Healthcare | $13.36B | $11.47B |
| 62 | GMAB | Genmab A/S | Healthcare | $12.87B | $27.48B |
| 63 | OGN | Organon & Co. | Healthcare | $12.87B | $3.61B |
| 64 | A | Agilent Technologies, Inc. | Healthcare | $12.73B | $49.61B |
| 65 | COO | The Cooper Companies, Inc. | Healthcare | $12.39B | $11.63B |
| 66 | MRNA | Moderna, Inc. | Healthcare | $12.34B | $79.39B |
| 67 | RVTY | Revvity, Inc. | Healthcare | $12.17B | $17.90B |
| 68 | AVTR | Avantor, Inc. | Healthcare | $11.79B | $11.69B |
| 69 | JAZZ | Jazz Pharmaceuticals plc | Healthcare | $11.66B | $13.35B |
| 70 | HSIC | Henry Schein, Inc. | Healthcare | $11.21B | $9.42B |
| 71 | STE | STERIS plc | Healthcare | $10.74B | $22.44B |
| 72 | BIO | Bio-Rad Laboratories, Inc. | Healthcare | $10.58B | $9.96B |
| 73 | SNN | Smith & Nephew plc | Healthcare | $10.46B | $12.75B |
| 74 | VEEV | Veeva Systems Inc. | Healthcare | $8.98B | $51.52B |
| 75 | RMD | ResMed Inc. | Healthcare | $8.97B | $35.61B |
| 76 | ARGX | argenx SE | Healthcare | $8.68B | $54.67B |
| 77 | PRGO | Perrigo Company plc | Healthcare | $8.54B | $2.20B |
| 78 | ONC | BeOne Medicines AG | Healthcare | $8.19B | $41.95B |
| 79 | SGRY | Surgery Partners, Inc. | Healthcare | $8.12B | $3.00B |
| 80 | UTHR | United Therapeutics Corporation | Healthcare | $7.88B | $25.43B |
| 81 | BMRN | BioMarin Pharmaceutical Inc. | Healthcare | $7.59B | $10.79B |
| 82 | CRL | Charles River Laboratories International, Inc. | Healthcare | $7.14B | $17.06B |
| 83 | EHC | Encompass Health Corporation | Healthcare | $7.09B | $12.24B |
| 84 | INCY | Incyte Corporation | Healthcare | $6.96B | $22.97B |
| 85 | TFX | Teleflex Incorporated | Healthcare | $6.95B | $5.80B |
| 86 | ILMN | Illumina, Inc. | Healthcare | $6.64B | $40.93B |
| 87 | BTSG | BrightSpring Health Services, Inc. | Healthcare | $6.41B | $11.65B |
| 88 | DXCM | DexCom, Inc. | Healthcare | $6.34B | $29.65B |
| 89 | OSCR | Oscar Health, Inc. | Healthcare | $6.33B | $9.60B |
| 90 | QGEN | Qiagen N.V. | Healthcare | $6.28B | $10.40B |
| 91 | BRKR | Bruker Corporation | Healthcare | $6.24B | $8.87B |
| 92 | ALGN | Align Technology, Inc. | Healthcare | $6.23B | $10.82B |
| 93 | RDY | Dr. Reddy's Laboratories Limited | Healthcare | $6.17B | $11.45B |
| 94 | BKD | Brookdale Senior Living Inc. | Healthcare | $5.95B | $2.33B |
| 95 | WAY | Waystar Holding Corp. | Healthcare | $5.79B | $5.50B |
| 96 | QDEL | QuidelOrtho Corporation | Healthcare | $5.77B | $944.28M |
| 97 | ROIV | Roivant Sciences Ltd. | Healthcare | $5.71B | $26.04B |
| 98 | NVST | Envista Holdings Corporation | Healthcare | $5.68B | $3.80B |
| 99 | PACS | PACS Group, Inc. | Healthcare | $5.58B | $7.72B |
| 100 | ACHC | Acadia Healthcare Company, Inc. | Healthcare | $5.53B | $2.92B |
No companies match this search.
Total assets measure balance-sheet size, not worth: a bank holding customer deposits carries assets many times its market value, while a software company of the same market value carries a fraction of them. Above 150 times market cap the accounts are not in US dollars, and the company is left out.
How this ranking is built
Companies are ranked by total 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 $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- 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 pharmaceutical companies carry such large intangible assets?
Drug rights acquired from another developer are recorded at what was paid for them, and a large acquisition adds both those identified intangibles and goodwill. Research done in-house is expensed as it happens, so a molecule discovered internally adds nothing to the balance sheet while an identical one bought outside adds a great deal. The total therefore tracks deal history as much as scientific output.
Are hospital operators and insurers comparable with drug makers on this measure?
Only loosely. Insurers hold investments against claims reserves and hospital groups hold receivables from payers, so their totals reflect the float and the billing cycle of a service business. Drug makers hold intangibles and plants. Both appear on the same ranking because both file the same balance sheet, but the number means something different in each case, and return on assets across the two rarely compares cleanly.