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 May 9, 2026

$3,299.29T Total Market Cap

— Avg P/E Ratio

$234.39 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	$18.01	457.71T	1,116.57T	41.0%	32.95T
4	SONY	Sony Group Corporation	$20.27	403.60T	1,992.18T	20.3%	20.41T
5	MUFG	Mitsubishi UFJ Financial Group	$18.01	390.61T	1,003.03T	38.9%	32.95T
6	SONY	Sony Group Corporation	$20.27	350.76T	1,822.51T	19.3%	20.41T
7	TM	Toyota Motor Corporation	$190.16	110.14T	759.25T	14.5%	44.21T
8	BRK.B	Berkshire Hathaway Inc	$475.94	94.86T	556.99T	17.0%	1.02T
9	TM	Toyota Motor Corporation	$190.16	90.79T	658.78T	13.8%	44.21T
10	BRK.B	Berkshire Hathaway Inc	$475.94	84.11T	519.87T	16.2%	1.02T
11	INFY	Infosys Limited	$12.64	38.17T	156.67T	24.4%	5.40T
12	IBN	ICICI Bank Limited	$26.55	34.72T	62.89T	55.2%	9.17T
13	INFY	Infosys Limited	$12.64	32.89T	142.11T	23.2%	5.40T
14	HDB	HDFC Bank Limited	$25.06	29.87T	103.84T	28.8%	12.27T
15	IBN	ICICI Bank Limited	$26.55	29.30T	55.86T	52.5%	9.17T
16	HDB	HDFC Bank Limited	$25.06	25.39T	92.88T	27.3%	12.27T
17	TSM	Taiwan Semiconductor Manufacturing	$401.01	14.84T	21.49T	69.1%	54.07T
18	WIT	Wipro Limited	$1.98	14.08T	81.71T	17.2%	2.13T
19	WIT	Wipro Limited	$1.98	12.85T	78.53T	16.4%	2.13T
20	TSM	Taiwan Semiconductor Manufacturing	$401.01	11.86T	18.07T	65.6%	54.07T
21	RDY	Dr. Reddy's Laboratories	$13.29	8.03T	29.49T	27.2%	1.01T
22	RDY	Dr. Reddy's Laboratories	$13.29	6.64T	25.68T	25.9%	1.01T
23	ASX	ASE Technology Holding Co	$33.55	2.07T	11.56T	17.9%	1.97T
24	ASX	ASE Technology Holding Co	$33.55	1.99T	11.71T	17.0%	1.97T
25	TCEHY	Tencent Holdings	$60.62	1.91T	5.77T	33.1%	4.68T
26	TCEHY	Tencent Holdings	$60.62	1.64T	5.21T	31.5%	4.68T
27	NVO	Novo Nordisk A/S	$44.87	1.02T	2.12T	48.4%	1.14T
28	NVO	Novo Nordisk A/S	$44.87	808.48B	1.76T	46.0%	1.14T
29	GOOGL	Alphabet Inc	$400.80	562.58B	2.21T	25.4%	4.84T
30	GOOGL	Alphabet Inc	$400.80	454.51B	1.73T	26.2%	4.84T
31	AVGO	Broadcom Inc.	$430.00	375.08B	1.00T	37.4%	1.99T
32	AVGO	Broadcom Inc.	$430.00	346.13B	903.80B	38.3%	1.99T
33	NVDA	NVIDIA Corp	$215.20	330.97B	864.89B	38.3%	5.26T
34	EQNR	Equinor ASA	$36.87	328.32B	1.06T	31.0%	903.95B
35	NVDA	NVIDIA Corp	$215.20	314.64B	864.73B	36.4%	5.26T
36	EQNR	Equinor ASA	$36.87	308.34B	944.03B	32.7%	903.95B
37	BRK.B	Berkshire Hathaway Inc	$475.94	306.55B	536.23B	57.2%	1.02T
38	BRK.B	Berkshire Hathaway Inc	$475.94	249.70B	436.42B	57.2%	1.02T
39	GOOG	Alphabet Inc-Cl C	$397.05	245.70B	861.82B	28.5%	4.84T
40	GOOG	Alphabet Inc-Cl C	$397.05	221.38B	899.87B	24.6%	4.84T
41	JPM	JPMorgan Chase & Co	$302.10	214.06B	401.55B	53.3%	847.49B
42	JPM	JPMorgan Chase & Co	$302.10	189.72B	321.45B	59.0%	847.49B
43	IDCBY	Industrial & Commercial Bank of China	$17.74	170.72B	383.41B	44.5%	2.54T
44	AMZN	Amazon.com Inc	$272.68	159.59B	710.83B	22.5%	2.25T
45	MSFT	Microsoft Corp	$415.12	156.73B	281.22B	55.7%	3.09T
46	MSFT	Microsoft Corp	$415.12	153.84B	388.58B	39.6%	3.09T
47	IDCBY	Industrial & Commercial Bank of China	$17.74	152.46B	360.41B	42.3%	2.54T
48	META	Meta Platforms Inc	$609.63	149.52B	571.40B	26.2%	1.26T
49	AAPL	Apple Inc	$293.32	149.41B	593.18B	25.2%	4.31T
50	META	Meta Platforms Inc	$609.63	147.76B	549.05B	26.9%	1.26T
51	AAPL	Apple Inc	$293.32	141.59B	407.98B	34.7%	4.31T
52	NVDA	NVIDIA Corp	$215.20	139.23B	215.44B	64.6%	5.26T
53	AMZN	Amazon.com Inc	$272.68	137.66B	1.12T	12.3%	2.25T
54	AAPL	Apple Inc	$293.32	137.00B	569.90B	24.0%	4.31T
55	AMZN	Amazon.com Inc	$272.68	135.69B	636.20B	21.3%	2.25T
56	GOOG	Alphabet Inc-Cl C	$397.05	132.63B	401.39B	33.0%	4.84T
57	MSFT	Microsoft Corp	$415.12	132.44B	250.15B	53.0%	3.09T
58	AAPL	Apple Inc	$293.32	132.12B	400.72B	33.0%	4.31T
59	GOOGL	Alphabet Inc	$400.80	131.39B	397.63B	33.0%	4.84T
60	WLWHY	Woolworths Group Limited	$3.18	124.01B	1.25T	9.9%	45.71B
61	MSFT	Microsoft Corp	$415.12	121.33B	320.70B	37.8%	3.09T
62	V	Visa Inc	$318.79	120.65B	230.35B	52.4%	633.96B
63	TSLA	Tesla Inc	$428.35	120.41B	924.44B	13.0%	1.43T
64	TSLA	Tesla Inc	$428.35	117.98B	839.63B	14.1%	1.43T
65	ACGBY	Agricultural Bank of China	$18.90	116.73B	269.45B	43.3%	2.40T
66	AMZN	Amazon.com Inc	$272.68	115.38B	925.56B	12.5%	2.25T
67	WLWHY	Woolworths Group Limited	$3.18	114.54B	1.22T	9.4%	45.71B
68	GOOG	Alphabet Inc-Cl C	$397.05	111.99B	356.76B	31.4%	4.84T
69	GOOGL	Alphabet Inc	$400.80	110.94B	353.42B	31.4%	4.84T
70	V	Visa Inc	$318.79	109.47B	213.86B	51.2%	633.96B
71	LLY	Eli Lilly and Co.	$948.45	106.53B	288.72B	36.9%	913.24B
72	LVMUY	LVMH Moët Hennessy	$105.46	105.43B	345.35B	30.5%	240.62B
73	BACHY	Bank of China Limited	$16.27	102.97B	232.63B	44.3%	1.72T
74	ACGBY	Agricultural Bank of China	$18.90	102.41B	248.84B	41.2%	2.40T
75	LVMUY	LVMH Moët Hennessy	$105.46	99.48B	343.02B	29.0%	240.62B
76	BACHY	Bank of China Limited	$16.27	92.99B	221.15B	42.1%	1.72T
77	META	Meta Platforms Inc	$609.63	86.58B	170.76B	50.7%	1.26T
78	LLY	Eli Lilly and Co.	$948.45	80.48B	262.19B	30.7%	913.24B
79	JPM	JPMorgan Chase & Co	$302.10	79.39B	117.53B	67.6%	847.49B
80	RNW	Renew Energy Global Plc-A	$5.46	77.11B	95.49B	80.8%	1.97B
81	JPM	JPMorgan Chase & Co	$302.10	72.97B	113.70B	64.2%	847.49B
82	ORCL	Oracle Corporation	$195.95	71.01B	153.12B	46.4%	488.50B
83	META	Meta Platforms Inc	$609.63	68.61B	142.43B	48.2%	1.26T
84	JD	JD.com Inc	$30.17	67.96B	4.30T	1.6%	312.29B
85	ORCL	Oracle Corporation	$195.95	65.98B	167.26B	39.5%	488.50B
86	RNW	Renew Energy Global Plc-A	$5.46	62.18B	81.05B	76.7%	1.97B
87	XOM	Exxon Mobil Corp	$144.57	60.82B	340.27B	17.9%	644.60B
88	JD	JD.com Inc	$30.17	59.92B	3.99T	1.5%	312.29B
89	XOM	Exxon Mobil Corp	$144.57	59.74B	317.51B	18.8%	644.60B
90	HESAY	Hermès International	$190.70	58.77B	128.41B	45.8%	173.13B
91	MA	Mastercard Inc	$495.48	56.25B	83.23B	67.6%	444.26B
92	T	AT&T Inc.	$25.16	51.41B	122.52B	42.0%	182.85B
93	MA	Mastercard Inc	$495.48	51.37B	70.31B	73.1%	444.26B
94	HESAY	Hermès International	$190.70	50.16B	115.36B	43.5%	173.13B
95	T	AT&T Inc.	$25.16	48.19B	120.90B	39.9%	182.85B
96	WMT	Walmart Inc	$130.43	46.76B	723.38B	6.5%	1.07T
97	VZ	Verizon Communications	$47.22	46.41B	137.60B	33.7%	202.68B
98	NVDA	NVIDIA Corp	$215.20	46.41B	75.57B	61.4%	5.26T
99	CMCSA	Comcast Corp-Class A	$25.40	45.80B	120.57B	38.0%	99.62B
100	RY	Royal Bank Of Canada	$181.68	44.55B	117.04B	38.1%	341.21B

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.