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 Jun 24, 2026

$3,297.67T Total Market Cap

— Avg P/E Ratio

$239.26 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	$20.23	457.71T	1,116.57T	41.0%	32.95T
4	SONY	Sony Group Corporation	$19.62	403.60T	1,992.18T	20.3%	20.41T
5	MUFG	Mitsubishi UFJ Financial Group	$20.23	390.61T	1,003.03T	38.9%	32.95T
6	SONY	Sony Group Corporation	$19.62	350.76T	1,822.51T	19.3%	20.41T
7	TM	Toyota Motor Corporation	$167.23	110.14T	759.25T	14.5%	44.21T
8	TM	Toyota Motor Corporation	$167.23	90.79T	658.78T	13.8%	44.21T
9	BRK.B	Berkshire Hathaway Inc	$492.81	87.26T	556.97T	15.7%	1.06T
10	BRK.B	Berkshire Hathaway Inc	$492.81	77.37T	519.86T	14.9%	1.06T
11	INFY	Infosys Limited	$10.88	38.17T	156.67T	24.4%	5.40T
12	IBN	ICICI Bank Limited	$28.27	34.72T	62.89T	55.2%	9.17T
13	INFY	Infosys Limited	$10.88	32.89T	142.11T	23.2%	5.40T
14	HDB	HDFC Bank Limited	$24.95	29.87T	103.84T	28.8%	12.27T
15	IBN	ICICI Bank Limited	$28.27	29.30T	55.86T	52.5%	9.17T
16	HDB	HDFC Bank Limited	$24.95	25.39T	92.88T	27.3%	12.27T
17	TSM	Taiwan Semiconductor Manufacturing	$436.39	14.84T	21.49T	69.1%	54.07T
18	WIT	Wipro Limited	$2.32	14.08T	81.71T	17.2%	2.13T
19	WIT	Wipro Limited	$2.32	12.85T	78.53T	16.4%	2.13T
20	TSM	Taiwan Semiconductor Manufacturing	$436.39	11.86T	18.07T	65.6%	54.07T
21	RDY	Dr. Reddy's Laboratories	$14.13	8.03T	29.49T	27.2%	1.01T
22	RDY	Dr. Reddy's Laboratories	$14.13	6.64T	25.68T	25.9%	1.01T
23	ASX	ASE Technology Holding Co	$39.73	2.07T	11.56T	17.9%	1.97T
24	ASX	ASE Technology Holding Co	$39.73	1.99T	11.71T	17.0%	1.97T
25	TCEHY	Tencent Holdings	$55.31	1.91T	5.77T	33.1%	4.68T
26	TCEHY	Tencent Holdings	$55.31	1.64T	5.21T	31.5%	4.68T
27	NVO	Novo Nordisk A/S	$46.79	1.02T	2.12T	48.4%	1.14T
28	NVO	Novo Nordisk A/S	$46.79	808.48B	1.76T	46.0%	1.14T
29	GOOGL	Alphabet Inc	$346.13	562.58B	2.21T	25.4%	4.48T
30	GOOGL	Alphabet Inc	$346.13	454.51B	1.73T	26.2%	4.48T
31	AVGO	Broadcom Inc.	$380.15	375.08B	1.00T	37.4%	1.96T
32	AVGO	Broadcom Inc.	$380.15	346.13B	903.80B	38.3%	1.96T
33	NVDA	NVIDIA Corp	$200.04	330.97B	864.89B	38.3%	5.10T
34	EQNR	Equinor ASA	$32.58	328.32B	1.06T	31.0%	903.95B
35	NVDA	NVIDIA Corp	$200.04	314.64B	864.73B	36.4%	5.10T
36	EQNR	Equinor ASA	$32.58	308.34B	944.03B	32.7%	903.95B
37	BRK.B	Berkshire Hathaway Inc	$492.81	306.55B	536.23B	57.2%	1.06T
38	BRK.B	Berkshire Hathaway Inc	$492.81	249.70B	436.42B	57.2%	1.06T
39	GOOG	Alphabet Inc-Cl C	$346.08	245.70B	861.82B	28.5%	4.48T
40	GOOG	Alphabet Inc-Cl C	$346.08	221.38B	899.87B	24.6%	4.48T
41	JPM	JPMorgan Chase & Co	$334.14	214.06B	401.55B	53.3%	871.43B
42	JPM	JPMorgan Chase & Co	$334.14	189.72B	321.45B	59.0%	871.43B
43	IDCBY	Industrial & Commercial Bank of China	$17.60	170.72B	383.41B	44.5%	2.54T
44	MSFT	Microsoft Corp	$373.94	160.95B	280.34B	57.4%	2.82T
45	MSFT	Microsoft Corp	$373.94	153.84B	388.58B	39.6%	2.82T
46	IDCBY	Industrial & Commercial Bank of China	$17.60	152.46B	360.41B	42.3%	2.54T
47	META	Meta Platforms Inc	$562.20	149.52B	571.40B	26.2%	1.47T
48	AAPL	Apple Inc	$294.30	149.41B	593.18B	25.2%	4.38T
49	META	Meta Platforms Inc	$562.20	147.76B	549.05B	26.9%	1.47T
50	AAPL	Apple Inc	$294.30	141.69B	407.36B	34.8%	4.38T
51	AMZN	Amazon.com Inc	$234.11	137.66B	1.12T	12.3%	2.63T
52	AAPL	Apple Inc	$294.30	137.00B	569.90B	24.0%	4.38T
53	MSFT	Microsoft Corp	$373.94	136.01B	249.37B	54.5%	2.82T
54	AAPL	Apple Inc	$294.30	132.21B	400.12B	33.0%	4.38T
55	NVDA	NVIDIA Corp	$200.04	131.52B	213.17B	61.7%	5.10T
56	GOOG	Alphabet Inc-Cl C	$346.08	131.05B	401.63B	32.6%	4.48T
57	GOOGL	Alphabet Inc	$346.13	130.84B	401.01B	32.6%	4.48T
58	WLWHY	Woolworths Group Limited	$3.45	124.01B	1.25T	9.9%	45.71B
59	MSFT	Microsoft Corp	$373.94	121.33B	320.70B	37.8%	2.82T
60	V	Visa Inc	$328.48	120.65B	230.35B	52.4%	616.56B
61	TSLA	Tesla Inc	$381.61	120.41B	924.44B	13.0%	1.50T
62	TSLA	Tesla Inc	$381.61	117.98B	839.63B	14.1%	1.50T
63	ACGBY	Agricultural Bank of China	$18.15	116.73B	269.45B	43.3%	2.40T
64	AMZN	Amazon.com Inc	$234.11	115.38B	925.56B	12.5%	2.63T
65	WLWHY	Woolworths Group Limited	$3.45	114.54B	1.22T	9.4%	45.71B
66	GOOG	Alphabet Inc-Cl C	$346.08	110.65B	356.97B	31.0%	4.48T
67	GOOGL	Alphabet Inc	$346.13	110.48B	356.42B	31.0%	4.48T
68	V	Visa Inc	$328.48	109.47B	213.86B	51.2%	616.56B
69	LLY	Eli Lilly and Co.	$1,107.08	106.53B	288.72B	36.9%	1.03T
70	LVMUY	LVMH Moët Hennessy	$110.06	105.43B	345.35B	30.5%	240.62B
71	BACHY	Bank of China Limited	$16.83	102.97B	232.63B	44.3%	1.72T
72	ACGBY	Agricultural Bank of China	$18.15	102.41B	248.84B	41.2%	2.40T
73	META	Meta Platforms Inc	$562.20	100.48B	198.19B	50.7%	1.47T
74	LVMUY	LVMH Moët Hennessy	$110.06	99.48B	343.02B	29.0%	240.62B
75	RNW	Renew Energy Global Plc-A	$6.26	96.97B	132.11B	73.4%	2.30B
76	BACHY	Bank of China Limited	$16.83	92.99B	221.15B	42.1%	1.72T
77	JPM	JPMorgan Chase & Co	$334.14	87.85B	116.11B	75.7%	871.43B
78	JPM	JPMorgan Chase & Co	$334.14	80.75B	112.33B	71.9%	871.43B
79	LLY	Eli Lilly and Co.	$1,107.08	80.48B	262.19B	30.7%	1.03T
80	AMZN	Amazon.com Inc	$234.11	80.27B	712.30B	11.3%	2.63T
81	META	Meta Platforms Inc	$562.20	79.62B	165.31B	48.2%	1.47T
82	RNW	Renew Energy Global Plc-A	$6.26	77.34B	110.91B	69.7%	2.30B
83	ORCL	Oracle Corporation	$165.16	71.01B	153.12B	46.4%	530.03B
84	AMZN	Amazon.com Inc	$234.11	68.25B	637.52B	10.7%	2.63T
85	JD	JD.com Inc	$26.13	67.96B	4.30T	1.6%	312.29B
86	BAC	Bank of America Corp	$57.91	67.52B	82.50B	81.8%	398.83B
87	ORCL	Oracle Corporation	$165.16	65.98B	167.26B	39.5%	530.03B
88	BAC	Bank of America Corp	$57.91	63.75B	81.99B	77.8%	398.83B
89	RY	Royal Bank Of Canada	$202.93	61.37B	68.82B	89.2%	398.17B
90	JD	JD.com Inc	$26.13	59.92B	3.99T	1.5%	312.29B
91	XOM	Exxon Mobil Corp	$139.73	59.74B	334.22B	17.9%	571.22B
92	HESAY	Hermès International	$185.20	58.77B	128.41B	45.8%	173.13B
93	XOM	Exxon Mobil Corp	$139.73	58.68B	311.86B	18.8%	571.22B
94	RY	Royal Bank Of Canada	$202.93	58.57B	69.14B	84.7%	398.17B
95	MA	Mastercard Inc	$488.07	56.25B	83.23B	67.6%	432.77B
96	MA	Mastercard Inc	$488.07	51.37B	70.31B	73.1%	432.77B
97	KLAC	Kla Corp	$244.49	50.49B	118.72B	42.5%	339.06B
98	HESAY	Hermès International	$185.20	50.16B	115.36B	43.5%	173.13B
99	NVDA	NVIDIA Corp	$200.04	46.41B	75.57B	61.4%	5.10T
100	VZ	Verizon Communications	$46.73	46.14B	136.38B	33.8%	189.45B

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.