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The 50 Most Innovative Companies

With the sudden reversal of the global economy, businesses are struggling not only with shrinking income and budgets, but also with seismic shifts that are upending entire industries, from autos and retail to banking and entertainment. These same forces are apparent in our latest ranking of the Most Innovative Companies. While the 2009 list includes some stalwarts in their usual top positions—namely Apple and Google—15 newcomers have joined the lineup, the biggest change since BusinessWeek and Boston Consulting Group first partnered on this proprietary survey in 2005. These include more companies headquartered outside the U.S. than in the past, such as Volkswagen, Infosys, and Telefónica. See a full explanation of our methodology as well as the footnotes at the bottom of the table.

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FOOTNOTES DATA: Analysis and data provided in collaboration with the innovation practice of the Boston Consulting Group and BCG-ValueScience. Reuters and Compustat were used for financial and industry data and Bloomberg for total shareholder returns. * Stock returns are annualized, Dec. 31, 2005, to Dec. 31, 2008, and account for price appreciation and dividends. ** Revenue and operating margin growth are annualized based on 2005-08 fiscal years. Margin growth is earnings before interest and taxes as a percentage of revenues reported in most recent statements or filings. Where possible, quarterly and semiannual data were used to bring performance for pre-June yearends closer to December 2008. Financial figures were calculated in local currency. *** Calculating three-year compound annual growth rate for operating margins was not possible when either figure was negative. NR: Not Rated. -Back to top-