Rankings in detail

US Top 100 rankings

Points breakdown for the top 100
Position and points by category

Position and points by sector

Investor and analyst comments

IR Rankings – US Top 100 2024

IR MagazineUS Top 100

The top US companies for investor relations, as voted for by investors and analysts

Large caps in bold

Rank 2024	Change	Company
1	^	Zscaler
2	^	Boston Scientific
3	^	NVIDIA Corporation
4	^	Moody’s
5	^	Thermo Fisher Scientific
6	^	Deere & Co
7	^	UnitedHealth Group
8	^v	Hilton Worldwide Holdings
9	^	General Electric
10	*	Eaton
11	^	JPMorgan Chase & Co
12	^	Verizon Communications
13	^v	Microsoft
14	*	CrowdStrike Holdings
15	^v	Medtronic
16	*	Arista Networks
17	*	Intel Corporation
18	^	Dexcom
19	^	Oracle Corporation
20	*	Palo Alto Networks
21	^	Uber Technologies
22	^v	Marriott International
23	^v	Equinix
24	^	Stryker
=25	*	Permian Resources
=25	^	Walmart
27	*	eBay
28	^	Zeta Global Corp
=29	^	Cisco Systems
=29	^	T-Mobile US
=31	^v	Apple
=31	^v	Union Pacific Railroad
33	^	Zillow Group
=34	^	Ingersoll Rand
=34	^v	JB Hunt Transport Services
=34	*	Regions Financial Corporation
=34	^	Tractor Supply Company
38	^v	Wyndham Hotels & Resorts
=39	*	Corning
=39	*	Lennox International
41	*	Analog Devices
42	*	Axon Enterprise
=43	^	Apollo Global Management
=43	^	Prologis
=43	*	SoFi Technologies
=46	*	Akamai Technologies
=46	*	DoorDash
=46	^v	Honeywell International
49	^	Blackstone
50	^v	DraftKings
51	^	Fortinet
=52	*	Apellis Pharmaceuticals
=52	*	Fastly
54	^	Moderna
=55	*	Applied Materials
=55	*	Regal Rexnord Corporation
=55	^	The Boeing Company
=58	*	HCA Healthcare
=58	*	The RealReal
60	*	Revvity
=61	^v	American Express
=61	^	Arch Capital Group
=61	*	Badger Meter
=61	*	Blue Owl Capital
=61	^v	United Parcel Service
66	^v	AT&T
67	^	FedEx
=68	^v	Cheniere Energy
=68	^	Gilead Sciences
=68	^	Humana
=68	^	The Sherwin-Williams Company
72	^	XPO
73	^	Procter & Gamble
=74	*	CMS Energy Corporation
=74	^	DR Horton
76	*	Amazon
=77	*	Ares Management Corporation
=77	^v	The Home Depot
=79	^v	Camden Property Trust
=79	*	Wabtec Corporation
=81	*	Central Garden & Pet Co
=81	*	COPT Defense Properties
=81	^v	Diamondback Energy
=81	*	The Timken Company
=85	*	AvidXchange
=85	*	Boston Properties
=85	^v	Mastercard
=88	^	Bank of America
=88	^v	Delta Air Lines
=88	^v	Fortive Corporation
=88	*	Smartsheet
=88	^	United Airlines
=93	^v	Danaher
=93	^	Global Payments
=93	^	Intuitive Surgical
=93	^	Keysight Technologies
=93	*	Royal Caribbean Group
=93	*	Trane Technologies
99	^	Bristol Myers Squibb
=100	*	Chesapeake Energy Corporation
=100	^	Walker & Dunlop

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IR Rankings – US Top 100 2024

Ranked companies' points breakdown

This table details the points awarded to each Top 100 company for each category of IR by the investors and analysts who responded to the research

Rank	Company	Market cap	Sector	Financial reporting	Technology	Investor meetings	Governance & disclosure	Sustainability communications	Most progress	Senior management	IRO	Overall	Total points
1	Zscaler	Large	Technology	27	66	24	5	14	18	35	97	98	384
2	Boston Scientific	Large	Healthcare	36	27	48	17	15	30	35	72	41	321
3	NVIDIA Corporation	Large	Technology	16	30	54	14	18	8	60	54	51	305
4	Moody’s	Large	Technology	18	21	24	60	6	0	42	60	60	291
5	Thermo Fisher Scientific	Large	Healthcare	27	24	36	18	30	9	18	48	42	252
6	Deere & Co	Large	Industrials	42	24	30	43	24	11	20	21	19	234
7	UnitedHealth Group	Large	Healthcare	54	33	42	36	11	4	16	10	18	224
8	Hilton Worldwide Holdings	Large	Consumer discretionary	24	18	24	18	15	0	24	48	24	195
9	General Electric	Large	Industrials	5	10	48	9	8	18	9	54	32	193
10	Eaton	Large	Industrials	42	2	36	6	3	0	33	39	30	191
11	JPMorgan Chase & Co	Large	Financials	26	21	24	30	2	9	27	18	23	180
12	Verizon Communications	Large	Communications	12	6	9	11	8	2	14	60	48	170
13	Microsoft	Large	Technology	23	21	8	5	5	3	41	18	40	164
14	CrowdStrike Holdings	Large	Technology	24	20	18	14	0	3	20	39	23	161
15	Medtronic	Large	Healthcare	12	39	24	8	9	8	12	30	18	160
16	Arista Networks	Large	Technology	18	5	36	12	6	5	27	27	21	157
17	Intel Corporation	Large	Technology	12	24	21	6	6	42	17	15	12	155
18	Dexcom	Large	Healthcare	11	12	21	5	6	0	21	48	29	153
19	Oracle Corporation	Large	Technology	0	0	26	24	24	6	24	6	30	140
20	Palo Alto Networks	Large	Technology	11	18	3	15	6	12	42	14	17	138
21	Uber Technologies	Large	Communications	26	6	9	3	12	15	24	18	21	134
22	Marriott International	Large	Consumer discretionary	12	18	18	15	6	2	18	15	21	125
23	Equinix	Large	Real estate	18	6	12	15	12	0	27	12	17	119
24	Stryker	Large	Healthcare	20	0	24	6	0	9	32	5	14	110
=25	Permian Resources	Mid	Energy	9	2	9	6	2	18	27	21	15	109
=25	Walmart	Large	Consumer staples	8	8	18	9	8	6	8	24	20	109
27	eBay	Large	Consumer discretionary	12	12	12	12	18	6	12	12	12	108
28	Zeta Global Corp	Small	Technology	15	15	15	6	9	5	12	15	15	107
=29	Cisco Systems	Large	Technology	18	9	6	26	16	4	12	9	5	105
=29	T-Mobile US	Large	Communications	3	15	3	2	6	2	21	14	39	105
=31	Apple	Large	Technology	15	21	8	6	15	15	9	6	9	104
=31	Union Pacific Railroad	Large	Industrials	24	3	12	6	0	0	0	26	33	104
33	Zillow Group	Mid	Communications	14	21	6	6	6	15	15	2	15	100
=34	Ingersoll Rand	Large	Industrials	9	6	3	9	3	21	15	21	9	96
=34	JB Hunt Transport Services	Mid	Industrials	0	0	0	0	15	0	15	36	30	96
=34	Regions Financial Corporation	Mid	Financials	6	6	30	6	6	15	9	6	12	96
=34	Tractor Supply Company	Large	Consumer discretionary	15	0	18	0	6	0	9	24	24	96
38	Wyndham Hotels & Resorts	Mid	Consumer discretionary	15	4	6	3	6	6	15	18	21	94
=39	Corning	Large	Technology	14	12	8	5	6	6	6	26	9	92
=39	Lennox International	Mid	Industrials	3	6	0	3	3	21	8	30	18	92
41	Analog Devices	Large	Technology	7	8	11	2	0	5	8	30	17	88
42	Axon Enterprise	Mid	Industrials	9	30	6	6	6	0	12	0	18	87
=43	Apollo Global Management	Large	Financials	14	6	12	0	0	15	11	12	15	85
=43	Prologis	Large	Real estate	15	6	9	5	5	3	18	12	12	85
=43	SoFi Technologies	Mid	Financials	4	6	6	6	3	9	33	6	12	85
=46	Akamai Technologies	Mid	Technology	12	9	6	8	2	2	12	12	21	84
=46	DoorDash	Large	Communications	12	6	12	0	0	0	15	21	18	84
=46	Honeywell International	Large	Industrials	20	9	12	12	6	8	7	8	2	84
49	Blackstone	Large	Financials	12	9	8	6	0	0	12	17	18	82
50	DraftKings	Mid	Consumer discretionary	2	15	5	2	2	24	15	9	6	80
51	Fortinet	Large	Technology	12	3	12	3	2	2	10	12	23	79
=52	Apellis Pharmaceuticals	Mid	Healthcare	3	3	9	0	6	9	30	6	12	78
=52	Fastly	Mid	Technology	5	10	5	8	8	12	12	9	9	78
54	Moderna	Large	Healthcare	2	6	18	2	2	9	6	14	15	74
=55	Applied Materials	Large	Technology	12	18	15	6	6	0	0	9	6	72
=55	Regal Rexnord Corporation	Mid	Industrials	6	3	12	6	6	0	12	18	9	72
=55	The Boeing Company	Large	Industrials	0	0	6	0	6	0	0	36	24	72
=58	HCA Healthcare	Large	Healthcare	3	0	5	0	0	3	21	24	15	71
=58	The RealReal	Small	Consumer discretionary	9	12	5	2	6	9	4	15	9	71
60	Revvity	Mid	Healthcare	2	0	12	0	0	6	6	27	17	70
=61	American Express	Large	Financials	12	9	9	3	12	0	9	12	3	69
=61	Arch Capital Group	Large	Financials	12	2	8	3	2	6	17	8	11	69
=61	Badger Meter	Mid	Industrials	9	6	3	9	6	0	24	6	6	69
=61	Blue Owl Capital	Mid	Financials	0	0	0	0	0	3	24	24	18	69
=61	United Parcel Service	Large	Industrials	3	0	6	6	6	6	12	15	15	69
66	AT&T	Large	Communications	3	0	6	6	0	6	9	27	11	68
67	FedEx	Large	Industrials	0	3	9	6	18	0	5	14	12	67
=68	Cheniere Energy	Large	Energy	6	6	6	6	6	12	6	12	6	66
=68	Gilead Sciences	Large	Healthcare	3	3	9	6	12	3	6	15	9	66
=68	Humana	Large	Healthcare	2	2	12	4	4	15	8	9	10	66
=68	The Sherwin-Williams Company	Large	Materials	6	3	21	0	0	0	6	9	21	66
72	XPO	Mid	Industrials	2	9	0	0	0	30	15	3	6	65
73	Procter & Gamble	Large	Consumer staples	15	0	3	0	0	0	9	17	20	64
=74	CMS Energy Corporation	Mid	Utilities	2	0	6	3	0	0	10	21	21	63
=74	DR Horton	Large	Consumer discretionary	12	0	6	6	0	0	12	15	12	63
76	Amazon	Large	Consumer discretionary	9	6	12	0	3	0	15	12	5	62
=77	Ares Management Corporation	Large	Financials	6	3	8	3	0	0	17	9	15	61
=77	The Home Depot	Large	Consumer discretionary	14	6	3	3	8	0	6	12	9	61
=79	Camden Property Trust	Mid	Real estate	9	6	3	0	0	0	6	24	12	60
=79	Wabtec Corporation	Large	Industrials	0	0	6	0	12	12	12	0	18	60
=81	Central Garden & Pet Co	Mid	Consumer staples	0	0	6	0	0	6	15	18	14	59
=81	COPT Defense Properties	Mid	Real estate	6	3	24	3	6	2	6	3	6	59
=81	Diamondback Energy	Large	Energy	9	12	3	2	0	0	12	9	12	59
=81	The Timken Company	Mid	Industrials	8	0	6	0	0	6	6	24	9	59
=85	AvidXchange	Mid	Technology	6	6	5	3	0	6	15	8	9	58
=85	Boston Properties	Mid	Real estate	3	2	6	3	8	6	3	21	6	58
=85	Mastercard	Large	Technology	8	6	6	2	0	0	21	6	9	58
=88	Bank of America	Large	Financials	9	6	9	6	0	0	11	6	10	57
=88	Delta Air Lines	Large	Industrials	8	0	3	6	2	0	12	11	15	57
=88	Fortive Corporation	Large	Industrials	6	6	6	6	6	6	3	12	6	57
=88	Smartsheet	Mid	Technology	0	0	12	0	0	27	18	0	0	57
=88	United Airlines	Mid	Industrials	9	0	2	2	2	0	6	18	18	57
=93	Danaher	Large	Healthcare	8	3	5	0	0	6	5	12	17	56
=93	Global Payments	Large	Technology	3	0	6	0	6	6	11	6	18	56
=93	Intuitive Surgical	Large	Healthcare	17	0	3	12	0	0	15	6	3	56
=93	Keysight Technologies	Large	Industrials	0	0	8	0	0	6	6	18	18	56
=93	Royal Caribbean Group	Large	Consumer discretionary	9	2	3	3	6	3	3	12	15	56
=93	Trane Technologies	Large	Industrials	29	2	2	2	8	3	0	2	8	56
99	Bristol Myers Squibb	Large	Healthcare	6	2	6	3	3	8	12	6	9	55
=100	Chesapeake Energy Corporation	Mid	Energy	3	9	8	3	6	2	6	8	9	54
=100	Walker & Dunlop	Mid	Financials	8	6	6	6	6	0	2	10	10	54

IR Rankings – US Top 100 2024

Research categories

This section lists the scores received by companies for their IR performance in a range of categories, plus comments made by investors and analysts who voted for each company

Best overall investor relations (large cap)

The numbers next to the bars are the scores received

1 Zscaler'The team at Zscaler proactively reaches out before quiet periods to provide the latest product and market intel we need for accurate models. Moreover, it hosts phenomenal educational sessions and the executives make themselves accessible to engage with analysts and address our inquiries' – sell side'Zscaler is very good in terms of orchestration of different elements of investor presentations, and the IRO is extremely knowledgeable and managed a tough situation this year' – sell side'Zscaler has good overall transparency and has set the bar for managing investor expectations' – sell side2 Boston Scientific'Boston Scientific excels in technology and sustainability, and has a top-quality IR team whose thoroughness keeps it ahead of the rest' – buy side'Boston Scientific runs an exceptionally investor-friendly IR program. True to form, just two days before the end of 2023, it put out an upbeat press release highlighting key achievements from the past year. I found this last-minute positivity useful in finalizing my models and recommendations ahead of the new year. By getting ahead of the pack with a pre-emptive, good news update, Boston Scientific made my job easier while ensuring investors headed into 2024 with an upbeat view of the business, primed for another year of strong returns' – buy side3 NVIDIA Corporation'NVIDIA continuously improves its investor relations program with a focus on providing investors with timely and accurate information about the company's financial performance' – buy side'NVIDIA is praised for its clear and concise financial reporting, with detailed quarterly earnings releases and annual reports that provide a comprehensive overview of the company and how it is doing' – buy side4 Moody’s'The Moody’s team has done a tremendous job to educate the investment community about its GenAI initiatives and Moody's Analytics capabilities. The Open House and GenAI call are great events' – sell side'Moody’s has great content on its IR site, helpful events and friendly people' – sell side5 Thermo Fisher Scientific'Thermo Fisher’s meetings are well organized and well thought out. At the analyst day each year, the firm takes a different area of the business to focus on and digs deep, which is super-helpful' – sell side6 Deere & Co'At Deere & Co, the meetings are very well put together; good events, both in person and virtually' – sell side7 UnitedHealth Group'UnitedHealth’s IR program is robust. The team is incredibly knowledgeable and quick to respond, always first out of the gate in every cycle. The recent change of IR personnel was seamless' – buy side8 Hilton Worldwide Holdings'Hilton finds new ways to provide transparent information to the Street during any given part of the cycle' – sell side9 General Electric'General Electric does a lot in terms of investor events. It did a presentation at the Paris Air Show 2023, when there was a lot of concern over engine durability issues, and it explained technical fixes that it had sorted out. Access to different executives and IR is very good' – sell side10 Eaton 'Eaton’s IR is very helpful and is best for the amount of information provided. In meetings, we are always guaranteed access to executive-level staff' – sell side11 JPMorgan Chase & Co'Given the industry, JPMorgan’s IROs are highly skilled in investor communication, providing comprehensive and specialized IR. The annual meetings are in-depth and widely followed' – buy side12 Verizon Communications'Verizon offers proactive engagement with shareholders and multiple opportunities for investors to hear from C-level executives' – sell side13 Microsoft'Microsoft manages expectations well, understands your questions and the reasons behind them, and answers very clearly' – sell side14 CrowdStrike Holdings'CrowdStrike’s IR team is well informed. It hosted a well-run and well-attended analyst day in Las Vegas, and presentations are always good' – sell side15 Medtronic'Medtronic hosts a lot of events and attends medical meetings, and organizes calls with division heads from across the businesses' – sell side16 Arista Networks'Arista Networks’ IR is timely and knowledgeable, making it popular for its effective communication with investors and analysts. We were kept informed when it was dealing with supply-chain constraints and it communicates well around upcoming AI opportunities' – sell side17 Intel Corporation'Intel does a great job of managing its interaction with Wall Street. It has a pretty broad, diversified investor relations program, with people dedicated to different geographies' – sell side18 Dexcom'Dexcom is extremely transparent and proactive about addressing investor concerns. I appreciate its willingness to share data, supporting underlying trends going on in business' – buy side19 Oracle Corporation'Oracle’s IR function has impeccable knowledge of both the company and a complicated industry' – buy side

Best overall investor relations (mid-cap)

The numbers next to the bars are the scores received

1 Permian Resources'Permian Resources stands out for having one of the most responsive and available investor relations teams among small-cap exploration & production companies. Whether I reach out with an email inquiry or need an urgent phone consultation ahead of publishing research, Permian's tight-knit IR group is easily accessible and quick to reply with helpful information' – sell side'Permian Resources’ IR team is always available. Even during busy periods like earnings season, it makes an effort to keep communication channels open and connects analysts to subject matter experts to address our specific questions' – sell side'The knowledgeable IR team at Permian is extremely responsive and, between the two team members, there is always someone accessible even if the questions are mid-quarter. Sometimes there is a question the team can’t immediately answer so then we are put in touch with the relevant senior manager. From time to time, the IR people check in with us in case we have missed something on guidance. This is helpful' – sell side2 Zillow Group'Zillow has a fantastic head of IR in Mary Ellen Fukuhara, who heads a phenomenal team. It puts the resources into IR that most of its competitors do not, and that’s what makes the difference in terms of accessibility, responsiveness and quality of staff' – sell side'From Zillow we receive core disclosures on a quarterly basis and long-term targets and goals. The website has lots of data, including the Zillow Blog, an official disclosure channel that we find informative and useful' – sell side'Zillow stands out this year for how it communicated on the anticipated housing market performance, and how investors’ expectations were managed on that front' – sell side=3 JB Hunt Transport Services'The in-depth IR program at JB Hunt demonstrates a good understanding of both the business and the needs of the Street. It is able to advise the investment community on trends in a way that is reassuring to investors. Effective communications!' – buy side=3 Regions Financial Corporation'Regions Financial Corporation shows up at most of the conferences, gives lots of detail in the slides it provides and is very proactive in sourcing feedback from analysts and investors' – buy side5 Wyndham Hotels & Resorts'The investor relations at Wyndham has a long track record of transparency and investor interaction' – sell side6 Lennox International'Lennox’s openness to fielding questions, providing additional color on market dynamics and elucidating key strategic decisions gives me confidence I can trust the guidance it provides' – sell side7 Axon Enterprise'Axon hosts several of its own events and does a good job of meeting analysts at trade shows. It is very transparent and provides a lot of data and good insights into the business' – sell side8 SoFi Technologies'SoFi Technologies is an emerging company, recently public. It published a short report this year and the IR team reached out after all-day meetings to pull a response and address any concerns people had' – sell side9 Akamai Technologies'Akamai Technologies continues to maintain a high standard with regards to financial reporting and disclosure of operations in the business. It also has a strong corporate governance structure. The IR team is very knowledgeable and therefore always useful in meetings' – sell side10 DraftKings'DraftKings actively participates in conferences and has improved its IR communication considerably, so I think it deserves credit for that. Also, I like the website for its simplicity and ease of use' – sell side=11 Apellis Pharmaceuticals'In light of the significant uncertainty Apellis was facing, IR provided excellent investor and analyst reassurance and communication' – sell side=11 Fastly'Fastly’s new CEO and head of IR have done a great job of improving disclosures and they have made significant improvements to their IR program over the past year, including the launch of a new IR website' – sell side13 Regal Rexnord Corporation'Regal Rexnord’s IR team has been exceptionally good at explaining the transformational journey the company has been on since CEO Louis Pinkham has taken over. The company has gone from a commoditized motor player to a value-added systems provider in automation and powertrain applications, which has structurally improved margins. It is never easy for an IR team to communicate such a metamorphosis but the messaging has been well received' – buy side14 Revvity'Revvity communicates extremely well with the Street. It sends emails regularly, and the materials and messaging are clear' – sell side

Best overall investor relations (small cap)

The numbers next to the bars are the scores received

1 Zeta Global Corp'Zeta Global is really responsive and understands the issues; it's always happy to hop on the phone and does not avoid issues' – sell side'I appreciate Zeta Global’s willingness to meet in person. It is responsive in and out of quiet periods via email, and its level of disclosure is top-notch' – sell side'Zeta Global strives to understand the issues that are plaguing the stock, to tackle those issues head-on and to communicate about it' – sell side2 The RealReal'Whether through scheduled meetings or impromptu calls to clarify details on latest earnings, The RealReal’s investor relations team makes itself available. Its proactive communications and willingness to field analysts' questions translate into productive modeling and accurate forecasts. I genuinely appreciate its priority on analyst accessibility' – buy side'As an analyst who regularly interacts with IR teams, I find The RealReal refreshingly transparent and responsive. Its open-door policy for analysts grants valuable access to management, facilitating constructive dialogues' – buy side3 PROG Holdings'PROG Holdings has recently been doing an excellent job with its presentations and following up with analysts and shareholders' – sell side'PROG Holdings has really improved its disclosure and quarterlies' – sell side4 Newmark Group'Despite turbulence in the real estate market over the past couple of years, Newmark’s investor relations team has been consistent and reliable in communicating performance trends, market share shifts, competitive differentiators and growth opportunities. Through earnings presentations, investor conferences and one-on-one meetings, it has provided granular detail and helpful context around segment-level drivers, enabling deeper insight into its diversified range of real estate services' – buy side =5 DMC Global'I have to commend DMC Global for standing out as a leader in transparency and accessibility. Most companies play their cards close to their chest, disclosing only the minimum required information and making it difficult for investors to get a clear picture. But DMC Global really sets the standard with detailed, reader-friendly disclosures across all its financial statements, earnings releases and regulatory filings. Its investor relations team is also extremely responsive to analysts' inquiries, providing additional color and context that helps us better understand its business strategies and financial performance. Given how comprehensively it communicates its financial and operational metrics, along with risks and growth opportunities, we have high confidence in analyzing DMC Global's current health and long-term prospects' – buy side=5 Iovance Biotherapeutics'Its transparency, accessibility and willingness to educate the investor community on its innovative cancer immunotherapies makes Iovance one of the most exciting biotech companies I follow from an investor relations perspective' – sell side7 The Greenbrier Companies'Justin Roberts, the IRO at Greenbrier, has in-depth knowledge and history with the company. He also holds a finance role and he does a great job of balancing both' – sell side 8 The Andersons'Andersons is a well-managed company with a lot of integrity, takes care of employees and their safety and communicates transparently with the Street. Always courteous and responsive and helping us understand complex topics in a complex sector' – sell side

Best investor relations officer (large cap)

The numbers next to the bars are the scores received

1 Zscaler'Bill Choi is by far and away the best and most helpful IRO to my practice' – sell side'Bill Choi of Zscaler is effective at communicating a complex technology story that makes it easy for the investment community to understand' – sell side'Bill Choi does great work educating investors, providing timely follow-up and great access to key executives' – buy side2 Boston Scientific'Boston Scientific’s Lauren Tengler is the best IRO, and heads by far my favorite IR team. Whoever I speak to is able to deal with one-off questions' – buy side'Boston Scientific’s savvy IR team has a knack for understanding what investors need and delivering it in a timely fashion' – buy side=3 Moody’s'As well as being approachable and extremely helpful, Shivani Kak of Moody’s is professional and understands very well how the capital markets work' – sell side'With great communication skills, insights and disclosures, Shivani Kak is always very responsive, making the IR at Moody’s one of the best in my space' – sell side=3 Verizon Communications'Brady Connor and the team at Verizon are responsive and proactive in terms of communication, always providing thorough answers' – buy side'Verizon’s Brady Connor continues to do a great job: always available, transparent in his answers, providing great slide decks and access to management' – sell side=5 General Electric'General Electric’s IRO, Steve Winoker, is doing well with taking a complicated set of financials and making them understandable and meaningful to the investor community' – buy side=5 NVIDIA Corporation'NVIDIA’s Simona Jankowski and the team are very forthcoming and give enough relevant information to model with' – sell side=7 Dexcom'Dexcom’s IRO, Sean Christensen, keeps everything short and concise without getting bogged down in details, is proactive ahead of important events and always quick to respond' – sell side=7 Hilton Worldwide Holdings'Jill Slattery Chapman of Hilton has deep industry knowledge and is always available to speak to investors and analysts. She is one of the most respected IROs around' – sell side=7 Thermo Fisher Scientific'Thermo Fisher’s IR officer, Rafael Tejada, communicates really well and every year knocks it out of the park with press releases and presentations' – buy side=10 CrowdStrike Holdings'CrowdStrike has a great team headed by Maria Riley. She does an excellent job staying engaged with the investment community' – sell side=10 Eaton'Being very experienced, Yan Jin of Eaton has a deep understanding of the company. He is a transparent communicator and I am impressed with his knowledge' – buy side12 The Boeing Company'Matt Welch, IRO at Boeing, continues to do a nice job. There was also a great investor day, where a lot of information was provided' – sell side

Best investor relations officer (mid-cap)

The numbers next to the bars are the scores received

1 JB Hunt Transport Services'Brad Delco of JB Hunt is unique in my space, coming from a sell-side background. He has that perspective and understands how the sell side and buy side think' – sell side2 Lennox International'I've found Lennox International stands out for having one of the most accessible and transparent investor relations teams in the industry. Whether through its earnings calls, investor conferences or day-to-day interactions, the team now headed by Chelsey Pulcheon makes a concerted effort to engage with the investment community and provide the information we need to accurately evaluate the company' – sell side3 Revvity'Steve Willoughby of Revvity is the best IR rep around. He is very responsive and has a deep understanding of his company and the issues investors care about' – sell side=4 Blue Owl Capital'Blue Owl’s IR team is highly responsive and proactive in communications. Whether you speak with Ann Dai or someone else, they are all great at helping us to understand complicated issues relating to the business' – sell side=4 Camden Property Trust'Camden Property Trust is excellent to deal with. Everyone is incredibly efficient at providing information and always quick to respond. From Kim Callahan and the IR team providing good alerts and easy-to-follow supplements to the eloquent CEO, who is a strong strategic thinker' – sell side=4 The Timken Company'Timken’s IRO, Neil Frohnapple, is responsive, transparent and provides good materials' – sell side

Best IR by a senior management team (large cap)

The numbers next to the bars are the scores received

1 NVIDIA Corporation'NVIDIA’s senior management raises guidance when it gives earnings. I appreciate how chief executive Jensen Huang has been straight about what’s going on with the company' – sell side'The senior management team at NVIDIA has created an ecosystem to support massively powerful computers very much needed for AI, which it is dominating' – sell side'Colette Kress, CFO at NVIDIA, is diligent, credible and a clear communicator' – buy side=2 Moody’s'Rob Fauber, Moody’s chief executive, has a strong strategic sense and vision on risk management. He also communicates well' – sell side'Rob Fauber made some big investments that have helped grow the business. He has been at the forefront of generative AI. His focus on technology and investment have been extremely effective in growing the business' – sell side'The excellent senior management at Moody's communicates enthusiastically with the Street' – sell side=2 Palo Alto Networks'Palo Alto Networks has good senior management availability, good disclosures and provides lots of useful metrics' – sell side'Palo Alto set the bar during the pandemic, and its senior management has a strong record on executing its objectives' – sell side4 Microsoft'Microsoft has a great senior management team: very communicative and transparent' – buy side=5 Boston Scientific'Boston Scientific’s senior management communicates the strategy clearly. It executes effectively and focuses on people; the culture there is strong and performance is solid' – sell side=5 Zscaler'Zscaler’s senior management is available and informative, providing thoughtful, deliberate and straightforward information to investors and analysts' – sell side7 Eaton 'Eaton has great policies, encompassing its commitment to transparency, timely shareholder communication and adherence to regulatory requirements' – buy side8 Stryker'Stryker’s chief executive, Kevin Lobo, is incredibly articulate and phenomenal in his role. The way he explains his vision is clear and powerful, and he understands the numbers and just what the Street is looking for' – buy side

Best IR by a senior management team (mid-cap)

The numbers next to the bars are the scores received

1 SoFi Technologies'SoFi Technologies’ senior management team is a big part of the reason people buy the stock. It is very experienced and communicates well' – sell side'We can rely on SoFi Technologies to be transparent and clear with investors. Senior management communication is outstanding' – sell side'SoFi is extremely transparent. Senior management is available for international investors and open to answering complicated and challenging questions, too' – sell side2 Apellis Pharmaceuticals'In a space of significant adversity in 2023, Apellis’ senior management was diligent in finding a solution and transparent in its communication, which gave investors confidence' – sell side'The senior management at Apellis has been excellent, providing regular press releases and hosting calls at a reasonable cadence, providing updates to share the information it had' – sell side3 Permian Resources'Even when facing industry headwinds beyond their control, Permian's executives make themselves available to explain challenges candidly, while also outlining their strategic vision to drive future growth. Compared with leadership at other companies, which can seem indifferent to IR, Permian's exceptional managers recognize that regularly interfacing with analysts and keeping communication lines wide open is mission-critical' – sell side=4 Badger Meter'Badger Meter has a simple and compelling story to tell, explaining durable growth and why it is attractive in a way that is understandable and digestible. It has a good business model and approachable management members, who are willing to speak with investors and have nothing to hide' – sell side=4 Blue Owl Capital'We get excellent corporate access from Blue Owl’s IR when necessary. Whoever you speak with, you come away with a better understanding of the company' – sell side=4 GATX Corporation'GATX's senior management is great across the board, and has always been A+ in that regard' – sell side

Best financial reporting

The numbers next to the bars are the scores received

1 UnitedHealth Group'UnitedHealth is good at distilling an enormous amount of info in commentary that is easy to understand and easy to act on' – buy side'UnitedHealth Group is known for comprehensive and transparent financial reporting. I can rely on the information it provides' – buy side'UnitedHealth provides incredibly clean and easy-to-understand financial reporting' – buy side=2 Deere & Co'Deere & Co gives outlook estimates for both its segments and the industry. Its quarterly reports are clean and easy to understand, and have a great many metrics for the company and industry' – sell side'Deere & Co’s reporting is detailed with specific guidance, which I find super-helpful' – sell side =2 Eaton'Eaton does an amazing job of its reporting, giving a lot of micro-data and a broad sector view' – sell side'Eaton’s reporting is clear. It is also transparent and fantastic at giving out long-term strategy' – sell side4 Boston Scientific'Boston Scientific provides excellent detailed financial reports and is leading in sustainability communications and reporting' – buy side5 Trane Technologies'Trane Technologies provides easy-to-follow financial reporting with lots of useful data' – sell side=6 Thermo Fisher Scientific'Thermo Fisher’s reporting is incredibly clean. There is a greater commitment to disclosure: it gives you Gaap to non-Gaap, and also shows historical data' – buy side=6 Zscaler'Zscaler’s reporting is the best for the great detail provided: clear, understandable and on point' – sell side=8 JPMorgan Chase & Co'JPMorgan is known for its detailed and transparent financial reporting and frequent communication' – buy side=8 Uber Technologies'Uber provides consistent performance indicators of segments it cares about, and good segment disclosure' – sell side

Best use of technology for IR

The numbers next to the bars are the scores received

1 Zscaler'Zscaler sets the gold standard for using technology's capabilities to give analysts what we need to accurately assess market potential and long-term growth trajectories' – sell side'Zscaler makes good use of third-party software to book meetings' – sell side'All materials are easily laid out on Zscaler’s website, with quarterly trended financials and presentations to make it easier during earnings' – sell side2 Medtronic'Medtronic usually involves some sort of video component with its public calls, which is unique' – sell side'With its sleek earnings call format, Medtronic is in a league of its own' – buy side3 UnitedHealth Group'UnitedHealth Group does well in terms of technology for IR. You can easily find all financials on its website' – buy side=4 Axon Enterprise'Axon does an investor video every quarter, and management teams have webcams, too, which is engaging and unusual for my coverage' – buy side=4 NVIDIA Corporation'NVIDIA is best for its innovative use of technology in investor relations, with a user-friendly website that provides investors with easy access to financial information, as well as email alerts and webcasts of earnings calls' – buy side6 Boston Scientific'Boston Scientific uses a variety of digital platforms effectively for its IR' – buy side

Best investor meetings

The numbers next to the bars are the scores received

1 NVIDIA Corporation'NVIDIA holds great meetings, which are well attended and provide investors with a clear understanding of the company's financial health and growth prospects' – buy side'NVIDIA’s IR team is proactive and supportive in making time for investors' – sell side'NVIDIA gives clean, informative presentations' – sell side2 Boston Scientific'Boston Scientific held a great investor day recently and always does a good job of communicating the corporate story' – buy side'I appreciate Boston Scientific’s discussion of short and long-term trends, its explanation of the drivers and its provision of well-thought-out slides' – sell side3 General Electric'General Electric hosted very in-depth site visits, showing us around the factories and giving access to good, polished management' – sell side'General Electric just hosted a good presentation, delivered by a wide swathe of the management team, where we had good access to some of the manufacturing areas you don’t usually get to see' – sell side4 UnitedHealth Group'In terms of meetings, UnitedHealth is above the rest. It offers meetings with different business leaders and gives small groups one-on-one time, selecting people for small dinners' – buy side=5 Arista Networks'Arista Networks puts you in front of many different members of the senior management team for good offline conversations' – sell side=5 Eaton'Eaton was great at outlining the five to 10-year opportunity for the company. It did a good job of explaining why the world will be needing its products' – buy side=5 Thermo Fisher Scientific'Thermo Fisher’s CEO does a great job of explaining what is special about the business, and the analyst meetings are well run and informative' – buy side

Best corporate governance & disclosure

The numbers next to the bars are the scores received

1 Moody’s'Moody's provides excellent disclosure, and goes above and beyond with details on its operating and investor services segments. Information on corporate governance is easily available on the website' – sell side'Disclosures and the presentation deck from Moody’s have lots of good financial details' – sell side2 Deere & Co'In terms of corporate governance, I like that Deere & Co is inclusive, with different levels of management, not just one person dominating the communication' – sell side'John Deere follows all the rules and checks the governance boxes, above and beyond' – sell side3 UnitedHealth Group'UnitedHealth is a large complex company, but it has a good framework and discloses a significant amount of detail' – sell side4 JPMorgan Chase & Co‘JPMorgan is consistently strong and, because it’s in the financials sector, corporate governance is highly scrutinized and upheld' – buy side5 Cisco Systems'As well as doing a great job with ESG and proxy statements, Cisco is transparent and provides effective disclosure' – sell side6 Oracle Corporation'Oracle was in trouble in the 1990s, almost going bankrupt. A change of CFO brought a conservative approach to accounting, and these guidelines are incredibly helpful for investors. For instance, most companies will recognize deferred revenue but Oracle recognizes it only once the cash is collected' – sell side

Best sustainability communications

The numbers next to the bars are the scores received

1 Thermo Fisher Scientific‘Thermo Fisher goes above and beyond to provide transparency on the firm’s latest environmental and social initiatives, demonstrating how sustainability is becoming further ingrained in its business strategy. It does a good job of communicating to ensure we understand how its real-world sustainability improvements create value for customers while future-proofing its operating models' – buy side'Thermo Fisher is taking environmental issues seriously: it signed up to the UN Global Compact several years ago, which shows its commitment. It publishes a nice sustainability report, and all the information is available on the website' – sell side'Thermo Fisher just goes from strength to strength in terms of corporate sustainability. It is innovative in terms of products and M&A, and communicates well about it' – sell side=2 Deere & Co'Being in agriculture, sustainability is a core focus for Deere & Co and it does a separate investor call for it' – sell side'Deere & Co has done a good job highlighting how precision agriculture does more with less' – sell side =2 Oracle Corporation'Oracle is perhaps the most efficient cloud tech in the world, providing a higher performance at a lower cost, which implies that the tech is more efficient. The IRO does whatever he can to help large and small investors understand the ESG story' – sell side'Oracle produces a lot of impressive information on various aspects of CSR. The website is packed with information on how it is looking after its employees, customer stories of its positive impact on their businesses and an ESG hub. It has become a vast subject, and Oracle is communicating on all of it' – sell side=4 eBay'The company stays true to keeping investors and analysts consistently well informed through open communication channels. It takes pride in upholding reputational excellence, driving an ethos of high-caliber financial governance and shareholder integrity. Its stellar track record on guidance and how it handles surprises or reforecasts with earnest explanations is impressive' – sell side=4 FedEx'In terms of sustainability, FedEx does as much as possible to communicate on what it has already done, as well as its plans for the future' – sell side=4 NVIDIA Corporation'NVIDIA provides extremely good communication on sustainability, with high-quality reports' – buy side

Most progress in IR

The numbers next to the bars are the scores received

1 Intel Corporation'Intel improved its focus on providing investors with clear and concise information about the company's financial health and strategy' – buy side'Intel has improved the most. With its new investor relations team, it is much more transparent and proactive with sell-side outreach' – sell side'The key individual responsible for Intel’s IR turnaround is John Pitzer. The firm has been reaching out a lot more, trying to tell its story and communicate what is going on' – buy side=2 Boston Scientific'Although Boston Scientific’s IR team has always been of a high standard, it manages to find new ways to improve' – buy side'What I like about Boston Scientific is its continuity with the teams, improving metrics, delivering on promises, being accountable, addressing mis-steps and always looking to improve' – sell side=2 XPO'The new IR guy at XPO did a good job of listening to questions and answering them directly. He understands what you’re saying. Overall transparency seems to have improved as well' – sell side'XPO Logistics is doing a lot better with its IR recently, which is a plus for me' – sell side4 Smartsheet'Smartsheet was quick to realize that there was confusion among investors regarding how it does expansion deals, and responded by providing a more appropriate way to understand that' – sell side5 DraftKings'DraftKings has been much better at helping us understand the nuances of the models and is more hands-on in terms of IR' – sell side=6 Ingersoll Rand'Ingersoll Rand was willing to listen, take constructive criticism and reorient itself around a constructive dialogue with investors' – buy side=6 Lennox International'Lennox International’s IR was previously quite poor. It brought in Michael Quenzer to take over the role and things really improved. The communication became a lot clearer and now he’s transitioning to CFO' – sell side

Best IR by a non-US company in the US market

The numbers next to the bars are the scores received

1 CyberArk Software 'CyberArk’s Erica Smith is one of the best IROs in the small to mid-cap space. I’ve known her for several years, and she is communicative, responsive and available' – sell side‘CyberArk has been pretty transparent around drivers; the CEO and CFO give very straightforward and clear answers’ – sell side‘CyberArk Software is responsive, proactive in outreach, and great at setting expectations. The communication and narrative are always clear’ – sell side2 FinVolution 'FinVolution’s IRO is a strong communicator, highly analytical, easy to reach and always available to talk to' – sell side‘FinVolution’s IR is responsive, transparent and helpful’ – sell side3 Amadeus 'We get good, solid information from Amadeus, and the IR is accessible. The firm came to a conference in Boston last year' – buy side

IR Rankings – US Top 100 2024

Best in sector

This section lists the top companies in each sector, as determined by totaling the scores received across each category of IR from the previous section