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 Sep 23, 2026

$3,302.99T Total Market Cap

— Avg P/E Ratio

$243.68 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	$22.84	457.71T	1,116.57T	41.0%	32.95T
4	SONY	Sony Group Corporation	$23.27	403.60T	1,992.18T	20.3%	20.41T
5	MUFG	Mitsubishi UFJ Financial Group	$22.84	390.61T	1,003.03T	38.9%	32.95T
6	SONY	Sony Group Corporation	$23.27	350.76T	1,822.51T	19.3%	20.41T
7	TM	Toyota Motor Corporation	$192.06	110.14T	759.25T	14.5%	44.21T
8	TM	Toyota Motor Corporation	$192.06	90.79T	658.78T	13.8%	44.21T
9	BRK-B	Berkshire Hathaway Inc	$507.17	77.79T	496.53T	15.7%	979.91B
10	BRK.B	Berkshire Hathaway Inc	$507.17	77.79T	496.53T	15.7%	979.91B
11	BRK.B	Berkshire Hathaway Inc	$507.17	68.97T	463.44T	14.9%	979.91B
12	BRK-B	Berkshire Hathaway Inc	$507.17	68.97T	463.44T	14.9%	979.91B
13	INFY	Infosys Limited	$10.82	38.17T	156.67T	24.4%	5.40T
14	IBN	ICICI Bank Limited	$27.83	34.72T	62.89T	55.2%	9.17T
15	INFY	Infosys Limited	$10.82	32.89T	142.11T	23.2%	5.40T
16	HDB	HDFC Bank Limited	$23.13	29.87T	103.84T	28.8%	12.27T
17	IBN	ICICI Bank Limited	$27.83	29.30T	55.86T	52.5%	9.17T
18	HDB	HDFC Bank Limited	$23.13	25.39T	92.88T	27.3%	12.27T
19	TSM	Taiwan Semiconductor Manufacturing	$449.70	14.84T	21.49T	69.1%	54.07T
20	WIT	Wipro Limited	$1.71	14.08T	81.71T	17.2%	2.13T
21	WIT	Wipro Limited	$1.71	12.85T	78.53T	16.4%	2.13T
22	TSM	Taiwan Semiconductor Manufacturing	$449.70	11.86T	18.07T	65.6%	54.07T
23	RDY	Dr. Reddy's Laboratories	$12.41	8.03T	29.49T	27.2%	1.01T
24	RDY	Dr. Reddy's Laboratories	$12.41	6.64T	25.68T	25.9%	1.01T
25	ASX	ASE Technology Holding Co	$43.79	2.07T	11.56T	17.9%	1.97T
26	ASX	ASE Technology Holding Co	$43.79	1.99T	11.71T	17.0%	1.97T
27	TCEHY	Tencent Holdings	$57.91	1.91T	5.77T	33.1%	4.68T
28	TCEHY	Tencent Holdings	$57.91	1.64T	5.21T	31.5%	4.68T
29	NVO	Novo Nordisk A/S	$38.30	1.02T	2.12T	48.4%	1.14T
30	NVO	Novo Nordisk A/S	$38.30	808.48B	1.76T	46.0%	1.14T
31	GOOGL	Alphabet Inc	$337.83	562.58B	2.21T	25.4%	4.25T
32	CAAP	Corp America Airports Sa	$23.73	528.67B	1.75B	30,263.5%	3.90B
33	CAAP	Corp America Airports Sa	$23.73	528.53B	2.48T	21.3%	3.90B
34	GOOGL	Alphabet Inc	$337.83	454.51B	1.73T	26.2%	4.25T
35	AVGO	Broadcom Inc.	$354.99	375.08B	1.00T	37.4%	1.62T
36	AVGO	Broadcom Inc.	$354.99	346.13B	903.80B	38.3%	1.62T
37	NVDA	NVIDIA Corp	$225.51	330.97B	864.89B	38.3%	5.30T
38	EQNR	Equinor ASA	$42.73	328.32B	1.06T	31.0%	903.95B
39	NVDA	NVIDIA Corp	$225.51	314.64B	864.73B	36.4%	5.30T
40	EQNR	Equinor ASA	$42.73	308.34B	944.03B	32.7%	903.95B
41	BRK.B	Berkshire Hathaway Inc	$507.17	306.55B	536.23B	57.2%	979.91B
42	BRK.B	Berkshire Hathaway Inc	$507.17	249.70B	436.42B	57.2%	979.91B
43	GOOG	Alphabet Inc-Cl C	$334.98	245.70B	861.82B	28.5%	4.25T
44	GOOG	Alphabet Inc-Cl C	$334.98	221.38B	899.87B	24.6%	4.25T
45	JPM	JPMorgan Chase & Co	$337.53	214.06B	401.55B	53.3%	928.53B
46	MSFT	Microsoft Corp	$500.59	193.52B	331.71B	58.3%	3.68T
47	JPM	JPMorgan Chase & Co	$337.53	189.72B	321.45B	59.0%	928.53B
48	IDCBY	Industrial & Commercial Bank of China	$19.22	170.72B	383.41B	44.5%	2.54T
49	MSFT	Microsoft Corp	$500.59	158.32B	285.67B	55.4%	3.68T
50	MSFT	Microsoft Corp	$500.59	153.84B	388.58B	39.6%	3.68T
51	IDCBY	Industrial & Commercial Bank of China	$19.22	152.46B	360.41B	42.3%	2.54T
52	META	Meta Platforms Inc	$744.10	149.52B	571.40B	26.2%	1.71T
53	AAPL	Apple Inc	$337.02	149.41B	593.18B	25.2%	4.85T
54	META	Meta Platforms Inc	$744.10	147.76B	549.05B	26.9%	1.71T
55	AAPL	Apple Inc	$337.02	139.23B	400.30B	34.8%	4.85T
56	AMZN	Amazon.com Inc	$249.27	137.66B	1.12T	12.3%	2.71T
57	AAPL	Apple Inc	$337.02	137.00B	569.90B	24.0%	4.85T
58	GOOG	Alphabet Inc-Cl C	$334.98	132.55B	406.25B	32.6%	4.25T
59	GOOGL	Alphabet Inc	$337.83	130.61B	400.29B	32.6%	4.25T
60	AAPL	Apple Inc	$337.02	129.92B	393.18B	33.0%	4.85T
61	NVDA	NVIDIA Corp	$225.51	129.54B	209.95B	61.7%	5.30T
62	WLWHY	Woolworths Group Limited	$2.60	124.01B	1.25T	9.9%	45.71B
63	MSFT	Microsoft Corp	$500.59	121.33B	320.70B	37.8%	3.68T
64	V	Visa Inc	$361.52	120.65B	230.35B	52.4%	691.16B
65	TSLA	Tesla Inc	$380.12	120.41B	924.44B	13.0%	1.44T
66	TSLA	Tesla Inc	$380.12	117.98B	839.63B	14.1%	1.44T
67	ACGBY	Agricultural Bank of China	$20.74	116.73B	269.45B	43.3%	2.40T
68	AMZN	Amazon.com Inc	$249.27	115.38B	925.56B	12.5%	2.71T
69	WLWHY	Woolworths Group Limited	$2.60	114.54B	1.22T	9.4%	45.71B
70	GOOG	Alphabet Inc-Cl C	$334.98	111.92B	361.08B	31.0%	4.25T
71	GOOGL	Alphabet Inc	$337.83	110.28B	355.78B	31.0%	4.25T
72	V	Visa Inc	$361.52	109.47B	213.86B	51.2%	691.16B
73	LLY	Eli Lilly and Co.	$1,150.99	106.53B	288.72B	36.9%	1.09T
74	LVMUY	LVMH Moët Hennessy	$93.01	105.43B	345.35B	30.5%	240.62B
75	BACHY	Bank of China Limited	$19.10	102.97B	232.63B	44.3%	1.72T
76	ACGBY	Agricultural Bank of China	$20.74	102.41B	248.84B	41.2%	2.40T
77	META	Meta Platforms Inc	$744.10	101.87B	200.93B	50.7%	1.71T
78	LVMUY	LVMH Moët Hennessy	$93.01	99.48B	343.02B	29.0%	240.62B
79	RNW	Renew Energy Global Plc-A	$6.84	94.67B	130.24B	72.7%	2.49B
80	BACHY	Bank of China Limited	$19.10	92.99B	221.15B	42.1%	1.72T
81	JPM	JPMorgan Chase & Co	$337.53	87.06B	115.07B	75.7%	928.53B
82	META	Meta Platforms Inc	$744.10	80.72B	167.60B	48.2%	1.71T
83	LLY	Eli Lilly and Co.	$1,150.99	80.48B	262.19B	30.7%	1.09T
84	JPM	JPMorgan Chase & Co	$337.53	80.02B	111.32B	71.9%	928.53B
85	AMZN	Amazon.com Inc	$249.27	79.66B	706.91B	11.3%	2.71T
86	RNW	Renew Energy Global Plc-A	$6.84	75.51B	109.35B	69.1%	2.49B
87	ORCL	Oracle Corporation	$144.56	71.01B	153.12B	46.4%	442.37B
88	JD	JD.com Inc	$27.18	67.96B	4.30T	1.6%	312.29B
89	AMZN	Amazon.com Inc	$249.27	67.74B	632.70B	10.7%	2.71T
90	BAC	Bank of America Corp	$56.00	67.05B	81.93B	81.8%	406.84B
91	ORCL	Oracle Corporation	$144.56	65.98B	167.26B	39.5%	442.37B
92	BAC	Bank of America Corp	$56.00	63.31B	81.42B	77.8%	406.84B
93	RY	Royal Bank Of Canada	$199.45	60.37B	67.70B	89.2%	395.08B
94	XOM	Exxon Mobil Corp	$161.23	60.15B	336.53B	17.9%	682.54B
95	JD	JD.com Inc	$27.18	59.92B	3.99T	1.5%	312.29B
96	XOM	Exxon Mobil Corp	$161.23	59.08B	314.01B	18.8%	682.54B
97	HESAY	Hermès International	$154.19	58.77B	128.41B	45.8%	173.13B
98	RY	Royal Bank Of Canada	$199.45	57.62B	68.02B	84.7%	395.08B
99	MA	Mastercard Inc	$559.92	56.25B	83.23B	67.6%	496.89B
100	MA	Mastercard Inc	$559.92	51.37B	70.31B	73.1%	496.89B

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.