The World's Most Innovative Companies

2006 Rank

Company

Margin Growth 1995-2005 %

Stock Returns1995-2005%

1

Apple

7.1

24.6

2

Google

NA**

NA**

3

3M

3.4

11.2

4

Toyota

10.7

11.8

5

Microsoft

2.0

18.5

6

General Electric

5.7

13.4

7

Procter & Gamble

4.4

12.6

8

Nokia

0.0

34.6

9

Starbucks

2.2

27.6

10

IBM

-0.7

14.4

11

Virgin

NA**

NA**

12

Samsung

-4.5***

22.7

13

Sony

-11.0

5.1

14

Dell

2.0

39.4

15

IDEO

NA**

NA**

16

BMW

9.1

14.2

17

Intel

-0.3

13.8

18

eBay

13.0***

NA**

19

IKEA

NA**

NA**

20

Wal-Mart

1.9

16.2

21

Amazon

25.0***

NA**

22

Target

7.4

25.2

23

Honda

8.0

12.9

24

Research In Motion

57.0***

NA**

25

Southwest

-0.1

13.9

26

Porsche

NA**

33.1

27

Genentech

5.7

29.3

28

Cisco

-2.2

15.2

29

Nike

0.0

10.7

30

Motorola

0.7

3.8

31

DaimlerChrysler

4.8***

-1.8

32

Infosys

3.0***

73.6

33

Ryanair

2.7

28.4

34

Pixar

24.2

13.8

35

SonyEricsson

NA**

NA**

36

Whole Foods

4.1

36.6

37

Capital One

-2.1

27.4

38

Tesco

-0.3

16.2

39

Danone

4.7

13.3

40

BP

-0.2

12.3

41

PepsiCo

4.9

10.2

42

Hewlett Packard

-6.6

7.1

43

Disney

-3.7

2.9

44

jetBlue

NA**

0.9

45

W.L. Gore & Associates

NA**

NA**

46

Skype Technologies

NA**

NA**

47

FedEx

4.3

18.9

48

Bang & Olufsen

2.4

16.3

49

Renault

23.7

14.8

50

L'Oreal

2.3

14.2

51

ExxonMobil

5.8

13.6

52

Siemens

2.0***

12.6

53

Johnson & Johnson

3.6

12.6

54

Shell

2.4

11.0

55

Pfizer

1.8

9.9

56

Singapore Airlines

-5.8

7.7

57

Nissan

30.2

5.4

58

DuPont

-1.8

4.9

59

Zara

NA**

NA**

60

TiVo

NA**

-24.6

61

Yahoo!

NA**

42.9

62

Macquarie Bank

NA**

35.0

63

Audi

9.2

30.1

64

Harley Davidson

7.1

22.3

65

Progressive Insurance

1.1

22.0

66

Volvo

-2.7

17.1

67

Philips Electronics

3***

16.2

68

ING Bank

3.0

15.7

69

Nestle

1.2***

13.9

70

Boeing

0.1

7.6

71

Matsushita Electric Industrial

-1.4

3.9

72

easyJet

0.0***

3.7

73

UPS

3.4

3.6

74

Coca-Cola

1.3

2.4

75

Cirque du Soleil (tied)

NA**

NA**

75

McKinsey (tied)

NA**

NA**

75

Woolworths (tied)

5.6***

NA**

78

Hutchison Telecommunications

NA**

88.1

79

Salesforce.com

NA**

58.4

80

ACS

NA**

35.1

81

ITC

NA**

25.4

82

Time Warner

8.1

22.3

83

Danaher

2.7

21.7

84

Costco Wholesale

1.7

20.7

85

LG Electronics

NA**

19.1

86

bankinter

NA**

18.3

87

Amgen

-0.3

18.2

88

Caterpillar

0.3

17.5

89

Accenture

NA**

16.3

90

SAP

1.3

15.7

91

SK Telecom

1.5

15.7

92

Home Depot

4.3

14.9

93

LVMH

-2.6***

12.3

94

Gap

-1.7

11.6

95

Unilever

5.0***

11.2

96

Goldman Sachs

-4.9***

10.9

97

John Deere & Co.

-1.1

8.9

98

Whirlpool

2.0

7.2

99

Entel

NA**

6.2

100

McDonald's

-2.4

5.2

* Insufficient data

** Based on fewer than 10 years of data

2006 RANK: In the 2006 rankings, we broke ties by comparing 10-year annualized total shareholder returns between 1995 and 2005. In ties between a public and a private company, the public company was favored.

MARGIN GROWTH: Annualized based on 1995-2005 fiscal year earnings before interest and taxes as percent of revenues.

STOCK RETURNS: Annualized, Dec. 29, 1995 to Dec. 30, 2005, price appreciation and dividends.

DATA: Analysis and data provided in collaboration with the innovation practice of The Boston Consulting Group. Also, Standard & Poor’s Compustat® data and company reports.