Highest EBITDA

Q: What is EBITDA?

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is calculated by starting with net income and adding back interest expense, income taxes, depreciation, and amortization. The result shows operating profitability before financing decisions (interest), government obligations (taxes), and non-cash charges (D&A). EBITDA is widely used in corporate finance for valuation, comparison, and deal-making.

Q: Why is EBITDA important?

EBITDA provides a level playing field for comparing companies that may have different debt structures, tax situations, and asset bases. Two companies with identical operations but different debt levels will show different net incomes — the more leveraged one pays more interest. EBITDA eliminates this distortion. It is the basis for the EV/EBITDA ratio, one of the most common valuation metrics used by analysts, private equity, and M&A professionals.

Q: What is a good EBITDA margin?

EBITDA margins vary significantly by industry. Software companies average 30-50%, telecom companies 30-40%, energy companies 20-35%, and retailers 5-10%. A margin above the industry average suggests strong operational efficiency and pricing power. Expanding margins indicate improving business quality, while declining margins may signal rising costs or competitive pressure. Compare margins to direct industry peers for the most meaningful assessment.

Q: What is the difference between EBITDA and net income?

Net income is the final profit after all deductions. EBITDA adds back interest, taxes, depreciation, and amortization to show earnings from core operations. EBITDA is higher than net income because it excludes these costs. While EBITDA is useful for comparisons, critics argue it ignores real costs — interest must be paid to lenders, taxes to governments, and capital assets must eventually be replaced. Warren Buffett has criticized EBITDA for overlooking capital expenditure requirements.

Q: What is EV/EBITDA?

EV/EBITDA is a valuation ratio that divides enterprise value (market cap plus debt minus cash) by annual EBITDA. It is considered superior to P/E for comparing companies with different debt levels because it uses enterprise value instead of market cap. A lower EV/EBITDA suggests better value. The S&P 500 average is roughly 13-15x. Capital-intensive industries like utilities and telecom trade at lower multiples while high-growth tech companies trade at higher ones.

Q: Is EBITDA the same as cash flow?

No. EBITDA is a proxy for cash generation potential but not actual cash flow. It ignores capital expenditures (the cash spent maintaining and growing the business), working capital changes, and other cash items. A company with high EBITDA but massive capex requirements may generate minimal free cash flow. For a more accurate picture of cash generation, use operating cash flow or free cash flow. EBITDA is best viewed as an operational profitability metric.

Q: What sectors have the highest EBITDA?

The highest absolute EBITDA comes from technology, energy, and financial services. Apple, Microsoft, and Alphabet lead in tech. ExxonMobil and Chevron dominate in energy. JPMorgan and Bank of America lead financials. By EBITDA margin, software and semiconductor companies often exceed 40%, while capital-intensive industries like airlines and automotive have lower margins despite high revenue.

Top companies by earnings before interest, taxes, depreciation, and amortization. The purest measure of operational cash generation.

200 stocks Updated Nov 7, 2026

$3,296.10T Total Market Cap

— Avg P/E Ratio

$234.51 Avg Share Price

+0.00% Avg Daily Change

EBITDA — earnings before interest, taxes, depreciation, and amortization — strips away financing and accounting decisions to reveal a company's core operational profitability. It is widely used by analysts and private equity firms as the go-to metric for comparing companies across different capital structures and tax jurisdictions.

Companies with the highest EBITDA are generating massive operational earnings regardless of how they are financed or taxed. This metric is particularly useful for comparing companies with different debt levels, as it ignores interest expense. It also eliminates the impact of depreciation and amortization, which are non-cash charges that vary based on asset age and accounting policies.

This list ranks companies by total annual EBITDA, along with revenue and EBITDA margin (EBITDA as a percentage of revenue). Higher margins indicate more efficient operations. Data is from the most recent annual financial statements, updated weekly.

#	Symbol	Name	Price	EBITDA	Revenue	EBITDA %	Market Cap
1	SSNLF	Samsung Electronics	$140.00	146,569.15T	1,046,526.00T	14.0%	1,371.15T
2	SSNLF	Samsung Electronics	$140.00	134,727.33T	1,012,603.78T	13.3%	1,371.15T
3	MUFG	Mitsubishi UFJ Financial Group	$20.99	457.71T	1,116.57T	41.0%	32.95T
4	SONY	Sony Group Corporation	$27.00	403.60T	1,992.18T	20.3%	20.41T
5	MUFG	Mitsubishi UFJ Financial Group	$20.99	390.61T	1,003.03T	38.9%	32.95T
6	SONY	Sony Group Corporation	$27.00	350.76T	1,822.51T	19.3%	20.41T
7	TM	Toyota Motor Corporation	$216.19	110.14T	759.25T	14.5%	44.21T
8	TM	Toyota Motor Corporation	$216.19	90.79T	658.78T	13.8%	44.21T
9	BRK-B	Berkshire Hathaway Inc	$570.89	86.55T	552.47T	15.7%	1.22T
10	BRK.B	Berkshire Hathaway Inc	$570.89	86.55T	552.47T	15.7%	1.22T
11	BRK.B	Berkshire Hathaway Inc	$570.89	76.74T	515.65T	14.9%	1.22T
12	BRK-B	Berkshire Hathaway Inc	$570.89	76.74T	515.65T	14.9%	1.22T
13	INFY	Infosys Limited	$12.41	38.17T	156.67T	24.4%	5.40T
14	IBN	ICICI Bank Limited	$33.85	34.72T	62.89T	55.2%	9.17T
15	INFY	Infosys Limited	$12.41	32.89T	142.11T	23.2%	5.40T
16	HDB	HDFC Bank Limited	$25.12	29.87T	103.84T	28.8%	12.27T
17	IBN	ICICI Bank Limited	$33.85	29.30T	55.86T	52.5%	9.17T
18	HDB	HDFC Bank Limited	$25.12	25.39T	92.88T	27.3%	12.27T
19	TSM	Taiwan Semiconductor Manufacturing	$375.44	14.84T	21.49T	69.1%	54.07T
20	WIT	Wipro Limited	$2.15	14.08T	81.71T	17.2%	2.13T
21	WIT	Wipro Limited	$2.15	12.85T	78.53T	16.4%	2.13T
22	TSM	Taiwan Semiconductor Manufacturing	$375.44	11.86T	18.07T	65.6%	54.07T
23	RDY	Dr. Reddy's Laboratories	$14.82	8.03T	29.49T	27.2%	1.01T
24	RDY	Dr. Reddy's Laboratories	$14.82	6.64T	25.68T	25.9%	1.01T
25	ASX	ASE Technology Holding Co	$31.14	2.07T	11.56T	17.9%	1.97T
26	ASX	ASE Technology Holding Co	$31.14	1.99T	11.71T	17.0%	1.97T
27	TCEHY	Tencent Holdings	$54.13	1.91T	5.77T	33.1%	4.68T
28	TCEHY	Tencent Holdings	$54.13	1.64T	5.21T	31.5%	4.68T
29	NVO	Novo Nordisk A/S	$40.41	1.02T	2.12T	48.4%	1.14T
30	NVO	Novo Nordisk A/S	$40.41	808.48B	1.76T	46.0%	1.14T
31	GOOGL	Alphabet Inc	$284.78	562.58B	2.21T	25.4%	3.51T
32	CAAP	Corp America Airports Sa	$24.54	528.67B	1.75B	30,263.5%	4.00B
33	CAAP	Corp America Airports Sa	$24.54	520.84B	2.45T	21.3%	4.00B
34	GOOGL	Alphabet Inc	$284.78	454.51B	1.73T	26.2%	3.51T
35	AVGO	Broadcom Inc.	$293.69	375.08B	1.00T	37.4%	1.40T
36	AVGO	Broadcom Inc.	$293.69	346.13B	903.80B	38.3%	1.40T
37	NVDA	NVIDIA Corp	$186.64	330.97B	864.89B	38.3%	4.38T
38	EQNR	Equinor ASA	$42.06	328.32B	1.06T	31.0%	903.95B
39	NVDA	NVIDIA Corp	$186.64	314.64B	864.73B	36.4%	4.38T
40	EQNR	Equinor ASA	$42.06	308.34B	944.03B	32.7%	903.95B
41	BRK.B	Berkshire Hathaway Inc	$570.89	306.55B	536.23B	57.2%	1.22T
42	BRK.B	Berkshire Hathaway Inc	$570.89	249.70B	436.42B	57.2%	1.22T
43	GOOG	Alphabet Inc-Cl C	$283.93	245.70B	861.82B	28.5%	3.51T
44	GOOG	Alphabet Inc-Cl C	$283.93	221.38B	899.87B	24.6%	3.51T
45	JPM	JPMorgan Chase & Co	$334.49	214.06B	401.55B	53.3%	903.70B
46	MSFT	Microsoft Corp	$530.61	194.83B	333.96B	58.3%	3.98T
47	JPM	JPMorgan Chase & Co	$334.49	189.72B	321.45B	59.0%	903.70B
48	IDCBY	Industrial & Commercial Bank of China	$20.16	170.72B	383.41B	44.5%	2.54T
49	AAPL	Apple Inc	$342.37	170.20B	475.24B	35.8%	5.00T
50	MSFT	Microsoft Corp	$530.61	159.39B	287.60B	55.4%	3.98T
51	MSFT	Microsoft Corp	$530.61	153.84B	388.58B	39.6%	3.98T
52	IDCBY	Industrial & Commercial Bank of China	$20.16	152.46B	360.41B	42.3%	2.54T
53	AAPL	Apple Inc	$342.37	150.13B	441.26B	34.0%	5.00T
54	META	Meta Platforms Inc	$610.15	149.52B	571.40B	26.2%	1.55T
55	AAPL	Apple Inc	$342.37	149.41B	593.18B	25.2%	5.00T
56	META	Meta Platforms Inc	$610.15	147.76B	549.05B	26.9%	1.55T
57	AMZN	Amazon.com Inc	$259.30	137.66B	1.12T	12.3%	2.81T
58	AAPL	Apple Inc	$342.37	137.00B	569.90B	24.0%	5.00T
59	GOOG	Alphabet Inc-Cl C	$283.93	132.84B	407.12B	32.6%	3.51T
60	GOOGL	Alphabet Inc	$284.78	132.44B	405.90B	32.6%	3.51T
61	NVDA	NVIDIA Corp	$186.64	127.44B	206.56B	61.7%	4.38T
62	WLWHY	Woolworths Group Limited	$2.48	124.01B	1.25T	9.9%	45.71B
63	MSFT	Microsoft Corp	$530.61	121.33B	320.70B	37.8%	3.98T
64	V	Visa Inc	$422.65	120.65B	230.35B	52.4%	792.50B
65	TSLA	Tesla Inc	$358.22	120.41B	924.44B	13.0%	1.38T
66	TSLA	Tesla Inc	$358.22	117.98B	839.63B	14.1%	1.38T
67	ACGBY	Agricultural Bank of China	$21.77	116.73B	269.45B	43.3%	2.40T
68	AMZN	Amazon.com Inc	$259.30	115.38B	925.56B	12.5%	2.81T
69	WLWHY	Woolworths Group Limited	$2.48	114.54B	1.22T	9.4%	45.71B
70	GOOG	Alphabet Inc-Cl C	$283.93	112.16B	361.85B	31.0%	3.51T
71	GOOGL	Alphabet Inc	$284.78	111.83B	360.77B	31.0%	3.51T
72	V	Visa Inc	$422.65	109.47B	213.86B	51.2%	792.50B
73	MU	Micron Technology Inc	$690.00	106.69B	130.55B	81.7%	773.08B
74	LLY	Eli Lilly and Co.	$1,354.00	106.53B	288.72B	36.9%	1.28T
75	LVMUY	LVMH Moët Hennessy	$93.60	105.43B	345.35B	30.5%	240.62B
76	BACHY	Bank of China Limited	$19.23	102.97B	232.63B	44.3%	1.72T
77	ACGBY	Agricultural Bank of China	$21.77	102.41B	248.84B	41.2%	2.40T
78	META	Meta Platforms Inc	$610.15	100.35B	197.92B	50.7%	1.55T
79	LVMUY	LVMH Moët Hennessy	$93.60	99.48B	343.02B	29.0%	240.62B
80	RNW	Renew Energy Global Plc-A	$6.93	94.88B	130.53B	72.7%	2.53B
81	BACHY	Bank of China Limited	$19.23	92.99B	221.15B	42.1%	1.72T
82	JPM	JPMorgan Chase & Co	$334.49	88.58B	117.07B	75.7%	903.70B
83	JPM	JPMorgan Chase & Co	$334.49	81.42B	113.26B	71.9%	903.70B
84	AMZN	Amazon.com Inc	$259.30	80.97B	718.52B	11.3%	2.81T
85	LLY	Eli Lilly and Co.	$1,354.00	80.48B	262.19B	30.7%	1.28T
86	META	Meta Platforms Inc	$610.15	79.52B	165.09B	48.2%	1.55T
87	RNW	Renew Energy Global Plc-A	$6.93	75.67B	109.59B	69.1%	2.53B
88	ORCL	Oracle Corporation	$116.10	71.01B	153.12B	46.4%	348.21B
89	AMZN	Amazon.com Inc	$259.30	68.85B	643.08B	10.7%	2.81T
90	JD	JD.com Inc	$29.16	67.96B	4.30T	1.6%	312.29B
91	BAC	Bank of America Corp	$49.42	66.67B	81.46B	81.8%	346.29B
92	ORCL	Oracle Corporation	$116.10	65.98B	167.26B	39.5%	348.21B
93	BAC	Bank of America Corp	$49.42	62.95B	80.96B	77.8%	346.29B
94	RY	Royal Bank Of Canada	$201.16	62.65B	70.26B	89.2%	405.68B
95	XOM	Exxon Mobil Corp	$165.87	61.55B	344.34B	17.9%	708.34B
96	XOM	Exxon Mobil Corp	$165.87	60.46B	321.31B	18.8%	708.34B
97	JD	JD.com Inc	$29.16	59.92B	3.99T	1.5%	312.29B
98	RY	Royal Bank Of Canada	$201.16	59.79B	70.58B	84.7%	405.68B
99	HESAY	Hermès International	$154.70	58.77B	128.41B	45.8%	173.13B
100	MA	Mastercard Inc	$652.70	56.25B	83.23B	67.6%	571.42B

Frequently Asked Questions

What is EBITDA?

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is calculated by starting with net income and adding back interest expense, income taxes, depreciation, and amortization. The result shows operating profitability before financing decisions (interest), government obligations (taxes), and non-cash charges (D&A). EBITDA is widely used in corporate finance for valuation, comparison, and deal-making.

Why is EBITDA important?

EBITDA provides a level playing field for comparing companies that may have different debt structures, tax situations, and asset bases. Two companies with identical operations but different debt levels will show different net incomes — the more leveraged one pays more interest. EBITDA eliminates this distortion. It is the basis for the EV/EBITDA ratio, one of the most common valuation metrics used by analysts, private equity, and M&A professionals.

What is a good EBITDA margin?

EBITDA margins vary significantly by industry. Software companies average 30-50%, telecom companies 30-40%, energy companies 20-35%, and retailers 5-10%. A margin above the industry average suggests strong operational efficiency and pricing power. Expanding margins indicate improving business quality, while declining margins may signal rising costs or competitive pressure. Compare margins to direct industry peers for the most meaningful assessment.

What is the difference between EBITDA and net income?

Net income is the final profit after all deductions. EBITDA adds back interest, taxes, depreciation, and amortization to show earnings from core operations. EBITDA is higher than net income because it excludes these costs. While EBITDA is useful for comparisons, critics argue it ignores real costs — interest must be paid to lenders, taxes to governments, and capital assets must eventually be replaced. Warren Buffett has criticized EBITDA for overlooking capital expenditure requirements.

What is EV/EBITDA?

EV/EBITDA is a valuation ratio that divides enterprise value (market cap plus debt minus cash) by annual EBITDA. It is considered superior to P/E for comparing companies with different debt levels because it uses enterprise value instead of market cap. A lower EV/EBITDA suggests better value. The S&P 500 average is roughly 13-15x. Capital-intensive industries like utilities and telecom trade at lower multiples while high-growth tech companies trade at higher ones.

Is EBITDA the same as cash flow?

No. EBITDA is a proxy for cash generation potential but not actual cash flow. It ignores capital expenditures (the cash spent maintaining and growing the business), working capital changes, and other cash items. A company with high EBITDA but massive capex requirements may generate minimal free cash flow. For a more accurate picture of cash generation, use operating cash flow or free cash flow. EBITDA is best viewed as an operational profitability metric.

What sectors have the highest EBITDA?

The highest absolute EBITDA comes from technology, energy, and financial services. Apple, Microsoft, and Alphabet lead in tech. ExxonMobil and Chevron dominate in energy. JPMorgan and Bank of America lead financials. By EBITDA margin, software and semiconductor companies often exceed 40%, while capital-intensive industries like airlines and automotive have lower margins despite high revenue.