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 Aug 9, 2026

$3,303.89T Total Market Cap

— Avg P/E Ratio

$245.97 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	$22.49	457.71T	1,116.57T	41.0%	32.95T
4	SONY	Sony Group Corporation	$23.42	403.60T	1,992.18T	20.3%	20.41T
5	MUFG	Mitsubishi UFJ Financial Group	$22.49	390.61T	1,003.03T	38.9%	32.95T
6	SONY	Sony Group Corporation	$23.42	350.76T	1,822.51T	19.3%	20.41T
7	TM	Toyota Motor Corporation	$188.49	110.14T	759.25T	14.5%	44.21T
8	TM	Toyota Motor Corporation	$188.49	90.79T	658.78T	13.8%	44.21T
9	BRK.B	Berkshire Hathaway Inc	$521.80	78.43T	500.60T	15.7%	1.01T
10	BRK.B	Berkshire Hathaway Inc	$521.80	69.54T	467.24T	14.9%	1.01T
11	INFY	Infosys Limited	$12.53	38.17T	156.67T	24.4%	5.40T
12	IBN	ICICI Bank Limited	$30.22	34.72T	62.89T	55.2%	9.17T
13	INFY	Infosys Limited	$12.53	32.89T	142.11T	23.2%	5.40T
14	HDB	HDFC Bank Limited	$23.63	29.87T	103.84T	28.8%	12.27T
15	IBN	ICICI Bank Limited	$30.22	29.30T	55.86T	52.5%	9.17T
16	HDB	HDFC Bank Limited	$23.63	25.39T	92.88T	27.3%	12.27T
17	TSM	Taiwan Semiconductor Manufacturing	$420.23	14.84T	21.49T	69.1%	54.07T
18	WIT	Wipro Limited	$2.02	14.08T	81.71T	17.2%	2.13T
19	WIT	Wipro Limited	$2.02	12.85T	78.53T	16.4%	2.13T
20	TSM	Taiwan Semiconductor Manufacturing	$420.23	11.86T	18.07T	65.6%	54.07T
21	RDY	Dr. Reddy's Laboratories	$12.22	8.03T	29.49T	27.2%	1.01T
22	RDY	Dr. Reddy's Laboratories	$12.22	6.64T	25.68T	25.9%	1.01T
23	ASX	ASE Technology Holding Co	$37.39	2.07T	11.56T	17.9%	1.97T
24	ASX	ASE Technology Holding Co	$37.39	1.99T	11.71T	17.0%	1.97T
25	TCEHY	Tencent Holdings	$60.73	1.91T	5.77T	33.1%	4.68T
26	TCEHY	Tencent Holdings	$60.73	1.64T	5.21T	31.5%	4.68T
27	NVO	Novo Nordisk A/S	$47.26	1.02T	2.12T	48.4%	1.14T
28	NVO	Novo Nordisk A/S	$47.26	808.48B	1.76T	46.0%	1.14T
29	GOOGL	Alphabet Inc	$354.30	562.58B	2.21T	25.4%	4.34T
30	GOOGL	Alphabet Inc	$354.30	454.51B	1.73T	26.2%	4.34T
31	AVGO	Broadcom Inc.	$427.76	375.08B	1.00T	37.4%	2.02T
32	AVGO	Broadcom Inc.	$427.76	346.13B	903.80B	38.3%	2.02T
33	NVDA	NVIDIA Corp	$223.96	330.97B	864.89B	38.3%	5.38T
34	EQNR	Equinor ASA	$39.35	328.32B	1.06T	31.0%	903.95B
35	NVDA	NVIDIA Corp	$223.96	314.64B	864.73B	36.4%	5.38T
36	EQNR	Equinor ASA	$39.35	308.34B	944.03B	32.7%	903.95B
37	BRK.B	Berkshire Hathaway Inc	$521.80	306.55B	536.23B	57.2%	1.01T
38	BRK.B	Berkshire Hathaway Inc	$521.80	249.70B	436.42B	57.2%	1.01T
39	GOOG	Alphabet Inc-Cl C	$353.47	245.70B	861.82B	28.5%	4.34T
40	GOOG	Alphabet Inc-Cl C	$353.47	221.38B	899.87B	24.6%	4.34T
41	JPM	JPMorgan Chase & Co	$357.52	214.06B	401.55B	53.3%	958.14B
42	MSFT	Microsoft Corp	$499.99	194.22B	332.92B	58.3%	3.74T
43	JPM	JPMorgan Chase & Co	$357.52	189.72B	321.45B	59.0%	958.14B
44	IDCBY	Industrial & Commercial Bank of China	$18.31	170.72B	383.41B	44.5%	2.54T
45	MSFT	Microsoft Corp	$499.99	158.90B	286.70B	55.4%	3.74T
46	MSFT	Microsoft Corp	$499.99	153.84B	388.58B	39.6%	3.74T
47	IDCBY	Industrial & Commercial Bank of China	$18.31	152.46B	360.41B	42.3%	2.54T
48	META	Meta Platforms Inc	$592.10	149.52B	571.40B	26.2%	1.50T
49	AAPL	Apple Inc	$313.33	149.41B	593.18B	25.2%	4.57T
50	META	Meta Platforms Inc	$592.10	147.76B	549.05B	26.9%	1.50T
51	AAPL	Apple Inc	$313.33	140.64B	404.35B	34.8%	4.57T
52	AMZN	Amazon.com Inc	$274.48	137.66B	1.12T	12.3%	2.98T
53	AAPL	Apple Inc	$313.33	137.00B	569.90B	24.0%	4.57T
54	GOOG	Alphabet Inc-Cl C	$353.47	131.90B	404.24B	32.6%	4.34T
55	GOOGL	Alphabet Inc	$354.30	131.59B	403.29B	32.6%	4.34T
56	AAPL	Apple Inc	$313.33	131.23B	397.16B	33.0%	4.57T
57	NVDA	NVIDIA Corp	$223.96	130.54B	211.58B	61.7%	5.38T
58	WLWHY	Woolworths Group Limited	$2.85	124.01B	1.25T	9.9%	45.71B
59	MSFT	Microsoft Corp	$499.99	121.33B	320.70B	37.8%	3.74T
60	V	Visa Inc	$362.50	120.65B	230.35B	52.4%	691.69B
61	TSLA	Tesla Inc	$328.58	120.41B	924.44B	13.0%	1.30T
62	TSLA	Tesla Inc	$328.58	117.98B	839.63B	14.1%	1.30T
63	ACGBY	Agricultural Bank of China	$18.87	116.73B	269.45B	43.3%	2.40T
64	AMZN	Amazon.com Inc	$274.48	115.38B	925.56B	12.5%	2.98T
65	WLWHY	Woolworths Group Limited	$2.85	114.54B	1.22T	9.4%	45.71B
66	GOOG	Alphabet Inc-Cl C	$353.47	111.37B	359.29B	31.0%	4.34T
67	GOOGL	Alphabet Inc	$354.30	111.11B	358.45B	31.0%	4.34T
68	V	Visa Inc	$362.50	109.47B	213.86B	51.2%	691.69B
69	LLY	Eli Lilly and Co.	$1,185.71	106.53B	288.72B	36.9%	1.11T
70	LVMUY	LVMH Moët Hennessy	$110.85	105.43B	345.35B	30.5%	240.62B
71	BACHY	Bank of China Limited	$16.79	102.97B	232.63B	44.3%	1.72T
72	ACGBY	Agricultural Bank of China	$18.87	102.41B	248.84B	41.2%	2.40T
73	META	Meta Platforms Inc	$592.10	100.47B	198.16B	50.7%	1.50T
74	LVMUY	LVMH Moët Hennessy	$110.85	99.48B	343.02B	29.0%	240.62B
75	RNW	Renew Energy Global Plc-A	$6.17	94.88B	129.25B	73.4%	2.25B
76	BACHY	Bank of China Limited	$16.79	92.99B	221.15B	42.1%	1.72T
77	JPM	JPMorgan Chase & Co	$357.52	87.87B	116.13B	75.7%	958.14B
78	AMZN	Amazon.com Inc	$274.48	81.10B	719.69B	11.3%	2.98T
79	JPM	JPMorgan Chase & Co	$357.52	80.76B	112.35B	71.9%	958.14B
80	LLY	Eli Lilly and Co.	$1,185.71	80.48B	262.19B	30.7%	1.11T
81	META	Meta Platforms Inc	$592.10	79.61B	165.28B	48.2%	1.50T
82	RNW	Renew Energy Global Plc-A	$6.17	75.67B	108.51B	69.7%	2.25B
83	ORCL	Oracle Corporation	$147.02	71.01B	153.12B	46.4%	417.52B
84	AMZN	Amazon.com Inc	$274.48	68.96B	644.14B	10.7%	2.98T
85	JD	JD.com Inc	$32.92	67.96B	4.30T	1.6%	312.29B
86	BAC	Bank of America Corp	$63.17	66.26B	80.96B	81.8%	439.91B
87	ORCL	Oracle Corporation	$147.02	65.98B	167.26B	39.5%	417.52B
88	BAC	Bank of America Corp	$63.17	62.56B	80.46B	77.8%	439.91B
89	RY	Royal Bank Of Canada	$211.08	60.66B	68.03B	89.2%	412.15B
90	XOM	Exxon Mobil Corp	$153.04	59.96B	335.47B	17.9%	636.70B
91	JD	JD.com Inc	$32.92	59.92B	3.99T	1.5%	312.29B
92	XOM	Exxon Mobil Corp	$153.04	58.90B	313.02B	18.8%	636.70B
93	HESAY	Hermès International	$178.93	58.77B	128.41B	45.8%	173.13B
94	RY	Royal Bank Of Canada	$211.08	57.89B	68.34B	84.7%	412.15B
95	MA	Mastercard Inc	$562.95	56.25B	83.23B	67.6%	498.79B
96	MA	Mastercard Inc	$562.95	51.37B	70.31B	73.1%	498.79B
97	HESAY	Hermès International	$178.93	50.16B	115.36B	43.5%	173.13B
98	VZ	Verizon Communications	$47.06	46.59B	135.50B	34.4%	195.23B
99	NVDA	NVIDIA Corp	$223.96	46.41B	75.57B	61.4%	5.38T
100	RY	Royal Bank Of Canada	$211.08	44.55B	117.04B	38.1%	412.15B

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.