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Top Technology Companies

Explore econometric models and financial health benchmarks for the leading Technology companies.

Median Rev Growth

6.6%

Median R&D Effort

3.6%

Companies Tracked

62

Company Leaderboard

Upwork Inc.

UPWK
FY Rev: $786M

Latest quarterly revenue was $198M, and in a log-log model revenue responds to cost spending with elasticities of 0.45% per 1% in R&D and 0.80% per 1% in SG&A.

Alphabet Inc.

GOOG
FY Rev: $391B

In our econometric model, the holdout forecast misses by -9.1% (predicted $93B vs actual $102B) and the overall MAPE stands at 2.9%.

Alphabet Inc.

GOOGL
FY Rev: $391B

Holdout predicted 93B vs actual 102B, a -9.1% error, underscoring model accuracy challenges in revenue forecasting across large tech platforms and markets.

Microsoft Corporation

MSFT
FY Rev: $323B

Latest quarterly revenue totaled $81.3 billion, and elasticity analysis shows revenue is more sensitive to SG&A spending (2.10% revenue lift per 1% spend) than to R&D (0.84% per 1%), implying SG&A investments drive the near-term revenue ROI more strongly within a log-log framework.

Monolithic Power Systems Inc

MPWR
FY Rev: $197M

[AI commentary unavailable].

Dell Technologies Inc.

DELL
FY Rev: $136B

[AI commentary unavailable].

Oracle Corporation

ORCL
FY Rev: $81B

The revenue model identifies SG&A investments as the primary driver, with a 1% rise in SG&A associated with a 3.31% lift in revenue, while R&D shows a negative elasticity of -0.61% per 1% increase.

International Business Machines Corporation

IBM
FY Rev: $74B

Revenue is set to rise about 9% year over year to roughly $80 billion, driven by services and hybrid cloud that support a durable, recurring revenue stream.

Accenture Plc

ACN
FY Rev: $73B

[AI commentary unavailable].

Cisco Systems, Inc.

CSCO
FY Rev: $63B

[AI commentary unavailable].

Intel Corporation

INTC
FY Rev: $58B

[AI commentary unavailable].

Uber Technologies, Inc.

UBER
FY Rev: $57B

[AI commentary unavailable].

Hp inc.

HPQ
FY Rev: $56B

[AI commentary unavailable].

Advanced Micro Devices, Inc.

AMD
FY Rev: $44B

[AI commentary unavailable].

Salesforce, Inc.

CRM
FY Rev: $43B

[AI commentary unavailable].

Qualcomm Inc/De

QCOM
FY Rev: $40B

[AI commentary unavailable].

Hewlett Packard Enterprise Company

HPE
FY Rev: $31B

Latest quarterly revenue was $9.301B, with a 36-quarter data history underpinning the model.

Jabil Inc

JBL
FY Rev: $31B

Revenue drivers in our model show SG&A spending as the primary positive lever, with a 1% increase in SG&A associated with a 1.24% rise in revenue, while R&D spending carries a negative elasticity of -0.24% per 1% increase.

Micron Technology, Inc.

MU
FY Rev: $29B

[AI commentary unavailable].

Amphenol Corporation

APH
FY Rev: $29B

[AI commentary unavailable].

Adobe Inc.

ADBE
FY Rev: $26B

[AI commentary unavailable].

Cdw Corp

CDW
FY Rev: $22B

The latest quarterly revenue came in at $5.511 billion.

Cognizant Technology Solutions Corporation

CTSH
FY Rev: $22B

[AI commentary unavailable].

Texas Instruments Inc

TXN
FY Rev: $17B

[AI commentary unavailable].

Servicenow, Inc.

NOW
FY Rev: $16B

Revenue growth is driven by targeted R&D investment, which yields about a 0.18% revenue lift for every 1% increase in R&D spend, while SG&A expansion reduces revenue by about 0.23% per 1% rise, in a log-log framework.

Kla Corp

KLAC
FY Rev: $13B

Revenue growth is driven mainly by SG&A investments, which show an elasticity of 1.40 (a 1% SG&A increase corresponds to a 1.40% revenue rise), while R&D contributes 0.70% per 1% spend under the log-log model.

Motorola Solutions, Inc.

MSI
FY Rev: $12B

[AI commentary unavailable].

Ebay Inc.

EBAY
FY Rev: $12B

Revenue growth is driven by efficient spending, with each $1 of SG&A generating $2.46 of long-run revenue and each $1 of R&D generating $1.91, making SG&A the more potent lever for scalable revenue.

Nxp Semiconductors N.v.

NXPI
FY Rev: $11B

[AI commentary unavailable].

Analog Devices, Inc.

ADI
FY Rev: $11B

[AI commentary unavailable].

Workday, Inc.

WDAY
FY Rev: $11B

[AI commentary unavailable].

Seagate Technology Holdings Plc

STX
FY Rev: $9.4B

The revenue model shows a linear relationship where every $1 of R&D spend generates about $9.93 of long-run revenue and every $1 of SG&A spend generates about $6.96, based on 50 quarters of data.

Synopsys Inc

SNPS
FY Rev: $9.0B

Revenue is more sensitive to SG&A spending than to R&D in the current log-log model, with a 1% increase in SG&A associated with a 1.26% rise in revenue and a 1% increase in R&D linked to a 0.64% rise; the latest quarterly revenue was $2.41 billion.

Applovin Corporation

APP
FY Rev: $9.0B

R&D spending drives revenue growth, with the model assuming $1 of R&D yields $5.86 in long-run revenue, while $1 of SG&A reduces long-run revenue by $3.06.

Autodesk, Inc.

ADSK
FY Rev: $8.1B

[AI commentary unavailable].

Garmin Ltd

GRMN
FY Rev: $7.4B

[AI commentary unavailable].

Fortinet, Inc.

FTNT
FY Rev: $7.4B

[AI commentary unavailable].

Gartner, Inc.

IT
FY Rev: $6.9B

[AI commentary unavailable].

Netapp, Inc.

NTAP
FY Rev: $6.5B

Revenue is driven by demand for data storage and management solutions, with ROI from spending indicating $1 of R&D yields $2.89 of long-run revenue and $1 of SG&A yields $2.18.

Cadence Design Systems, Inc.

CDNS
FY Rev: $6.3B

Revenue is driven by demand for design automation platforms and services, with the latest quarterly revenue of $1.339 billion and an 18-quarter data history that supports a linear relationship between inputs and long-run revenue.

Zebra Technologies Corporation

ZBRA
FY Rev: $6.1B

[AI commentary unavailable].

Epam Systems, Inc.

EPAM
FY Rev: $6.1B

[AI commentary unavailable].

Keysight Technologies, Inc.

KEYS
FY Rev: $6.0B

[AI commentary unavailable].

Veralto Corporation

VLTO
FY Rev: $6.0B

[AI commentary unavailable].

Ciena Corp

CIEN
FY Rev: $5.6B

[AI commentary unavailable].

Microchip Technology Incorporated

MCHP
FY Rev: $4.8B

Revenue is driven primarily by SG&A spending, with a 1% increase in SG&A linked to a 1.21% rise in revenue, while a 1% increase in R&D shows a slight negative revenue impact (-0.02%), per the log-log model.

Akamai Technologies, Inc.

AKAM
FY Rev: $4.4B

[AI commentary unavailable].

Costar Group, Inc.

CSGP
FY Rev: $4.0B

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Teradyne, Inc.

TER
FY Rev: $3.9B

Revenue growth appears driven by SG&A spending, with a 1% increase in SG&A associated with a 3.01% rise in revenue under the log-log model.

Skyworks Solutions, Inc.

SWKS
FY Rev: $3.9B

[AI commentary unavailable].

Gen Digital Inc.

GEN
FY Rev: $3.8B

Revenue is primarily driven by SG&A spend, with a 1% increase in SG&A yielding about a 0.77% rise in revenue, while a 1% increase in R&D correlates with a -0.37% change in revenue, under a log-log framework.

Axon Enterprise, Inc.

AXON
FY Rev: $3.8B

[AI commentary unavailable].

Hubspot, Inc.

HUBS
FY Rev: $3.7B

[AI commentary unavailable].

Trade Desk, Inc.

TTD
FY Rev: $3.3B

[AI commentary unavailable].

F5, Inc.

FFIV
FY Rev: $3.1B

[AI commentary unavailable].

Trimble Inc.

TRMB
FY Rev: $3.1B

Revenue is driven by disciplined spending in R&D and SG&A, with each $1 of R&D spending generating about $21.43 of long-run revenue and each $1 of SG&A generating about $3.55.

Revvity, Inc.

RVTY
FY Rev: $3.0B

Revenue is primarily driven by R&D investment, with an estimated $14.10 in long-run revenue generated per $1 of R&D, compared with $2.34 per $1 of SG&A.

Ptc Inc.

PTC
FY Rev: $2.7B

Revenue is driven by a linear spend-to-revenue relationship where each dollar of R&D adds 3.06 dollars of long-run revenue and each dollar of SG&A adds 4.32 dollars, making SG&A the higher-ROI driver in the model.

Tyler Technologies, Inc

TYL
FY Rev: $2.5B

Revenue is driven by SG&A spending efficiency, with the model implying that every $1 of SG&A yields $7.44 in long-run revenue, signaling strong operating leverage from marketing and administration investments.

Western Digital Corp

WDC
FY Rev: $2.0B

Latest quarterly revenue was $3.017B, with the model indicating SG&A spending efficiency as the key driver of long-run revenue since R&D data is not available.

Jack Henry & Associates, Inc.

JKHY
FY Rev: $1.5B

Revenue is driven by disciplined investments in R&D and SG&A, which translate to long-run revenue returns of $7.65 per $1 of R&D and $6.15 per $1 of SG&A.

Verisign Inc/Ca

VRSN
FY Rev: $1.4B

[AI commentary unavailable].