The Top Performing Stocks in History
Did you know that just 83 companies¹ were responsible for about half of all positive stock market returns between 1926 and 2019? That’s less than one-third of 1% of all U.S. stocks tracked in the study, according to The Wall Street Journal, citing research by Professor Hendrik Bessembinder.
It’s a striking reminder of how concentrated wealth creation in the stock market may be.
A handful of companies have gone on to deliver extraordinary results for long-term investors. Take Monster Beverage, for instance. Over roughly 25 years, the stock has often been cited as having offered more than 100,000% in cumulative gains, though such extraordinary returns are rare and not guaranteed.
Apple could be considered another example of long-term wealth creation. From its beginnings in 1976 as a niche computer company, it has grown into one of the most valuable businesses in the world. However, it’s important to note that these companies represent exceptional cases rather than typical outcomes. Many stocks do not perform this way, and some may decline significantly or fail altogether.
But what exactly do we mean when we talk about the “top-performing” stocks?
Performance is usually measured by total return, not just the change in share price, but also dividends reinvested along the way. This gives a more complete picture of the wealth an investor might have built by holding the stock.
Another key measure is annualised return or Compounded Annual Growth Rate (CAGR). Simply put, it shows the average yearly growth rate over a set horizon, even if year-to-year performance varies.
Of course, none of this comes without risk. Stock markets are unpredictable, and while some companies create extraordinary wealth, many others fail to deliver or even disappear altogether. That’s why past performance, no matter how impressive, can never guarantee what happens in the future.
In this article, we’ll look at some of the top-performing stocks in history as of 2025.
Let’s begin.
The information in this article is provided for educational purposes only and does not constitute financial advice. Consult a financial advisor before making investment decisions.
The Top Performing Stocks in History
The stocks highlighted in this section stand out because they have historically demonstrated positive outcomes for long-term investors, with consistent growth in market capitalisation.
Many of these stocks are regarded as blue-chip companies, known for their strong brand and global presence.
To get a clearer picture of their historic performance, we will look at two things:
- Total return, which accounts for both price growth and reinvested dividends.
- Annualised return, which shows how much is the average return each year.
The stocks we will examine here are just examples and are not intended as recommendations.
Coca-Cola
(NASDAQ: KO)
Coca-Cola has become one of the top-performing consumer staples stocks of all time because the company has built several competitive advantages. The brand itself is one of the most recognisable in the world, mainly as a result of advertising and its strong brand identity.
Leveraging this branding power, Coca-Cola extended the strategy to build other successful brands like Sprite and Fanta, along with the more recently acquired Billson’s ready-to-drink alcoholic beverage brand in Australia in 2025.
KO’s long-term performance shows how reinvested dividends can meaningfully enhance returns, with total return far exceeding price return over the past 30 years. In 2024, the company paid US$8.4 billion in dividends, marking its 62nd consecutive year of dividend increases.
A single share purchased at the company’s 1919 IPO for $40 could have grown into more than 327,000 shares by 2018, if dividends were continually reinvested. In dollar terms, that investment might have been worth around $15.5 million by 2018.
Of course, not every period for Coca-Cola has been smooth sailing. For example, in June 2021 a publicity stunt involving Cristiano Ronaldo removing two bottles of Coke at a press conference was widely reported to coincide with a drop in the company’s market value by about $4 billion.
Such episodes show that even companies with strong long-term compounding can face short-term headwinds… from shifting consumer preferences, regulatory or public health concerns, etc.
Altria
(NASDAQ: MO)
The parent company of Marlboro, spun off from Philip Morris International (NYSE: PM), has had similar success to Coca-Cola. Marlboro remains one of the company’s core brands, and Altria continues to lead the U.S. combustible market.
Please note that, past performance, dividend history, and market leadership are not reliable indicators of future results. The information provided here is for general informational purposes only and should not be interpreted as investment advice.
Historically, Altria has been known to deliver notable long-term total returns when dividends were reinvested. In 2024, Altria paid US$6.8 billion in dividends, and over the FY2020–FY2024 period, the company returned roughly US$32 billion to shareholders in dividends and repurchased about US$7.9 billion of shares.
Altria’s Board increased the quarterly dividend to US$1.06 per share in Q2 2025. This is the 60th dividend increase in the past 56 years. The annualised dividend rate is US$4.24 per share, which represents a ~6.3% yield based on Altria’s closing price on August 20, 2025.
The addictive nature of tobacco has historically made Altria profitable, and the company has often offset declining cigarette volumes by raising prices and expanding smoke-free offerings.
Even though, Altria continues to invest in smoke-free products, recent 2025 disclosures indicate the company sees the e-vapour market as increasingly challenging.
Amazon.com
(NASDAQ: AMZN)
The tech giant, Amazon, has capitalised on being a pioneer in e-commerce, cloud computing, Kindle e-books and voice-activated technology with Alexa and Echo. Like Altria and Coca-Cola, Amazon is also regarded to be a global brand with a strong reputation.
If we look at some numbers, in FY2024, the company’s net sales increased 11% to US$638 billion. AWS, which is Amazon’s cloud segment, contributed US$107.6 billion in sales (up 19% year-on-year) and remained a key driver of operating income. This robust cloud computing performance positions Amazon together with peers such as Microsoft and Alphabet. For all three firms, cloud services are a primary growth driver in their business as a whole.
Amazon is often classified as a growth stock. The company has never paid a cash dividend. Instead, it reinvests profits back into the business.
Over the course of 15 years, AMZN share price has compounded at about 25.78% per year, as on 19th September 2025. ²
However, one should keep in mind that even for such a large company, there are risks involved. Amazon operates in one of the most challenging sectors and needs to keep investing resources into innovation in order to remain competitive.
Yes, Amazon has been a remarkable success story so far, but past performance is not a reliable indicator of future results, and it will depend on how well the company adapts to competition and shifting consumer habits.
Here’s a snapshot of the technology company’s 2024 reported results:
Sources: Company FY2024 annual reports/investor relations.
Top Four Stocks in the Last Twenty Years
Over the past twenty years, a few sectors have had a notable impact on global markets. One of them is the Technology sector. Cloud computing and the rise in the use of digital platforms have transformed the way companies operate, especially how people live their daily lives.
The second sector is the Biotechnology sector. This sector has seen massive innovation in medicine and healthcare through waves of mergers and acquisitions that have helped companies build scale and competitive strength.
The four companies we will examine are just examples and are widely recognised for their long-term presence in their respective industries and have shown periods of strong historical performance, although this should not be taken as an indicator of future results.
Apple
(NASDAQ: AAPL)
The giant computer company, Apple, experienced initial growth in the 1970s and 1980s, then struggled in the mid-1990s. After strategic reinventions like launching the MacBook line, iPhone, iPad, and building its software ecosystem (iOS, App Store, iTunes,etc.) the company has established itself as one among blue-chip growth stocks.
In its third-quarter results for fiscal 2025, Apple reported revenue of about US$94 billion, which was up 10% from the year before. Earnings per diluted share rose 12% to US$1.57. The company also shared that its base of active devices has reached a record high across all products and regions earlier in the year, reflecting strong customer loyalty.
Still, no business is without challenges. Apple, like others, might face risks from changing consumer demand or supply chain pressures. Hence, investors must not solely invest in any stock just by looking at past price action.
Thoroughly checking the balance sheet, income statement, and future prospects of the company can provide useful insights into its financial position.
Alphabet
(NASDAQ: GOOG)
Alphabet, Google’s parent company, stands today as one of the biggest technology companies, valued at more than $3 trillion in 2025.
Its core strength still lies in online advertising, with Google Search and YouTube bringing in much of the revenue.
At the same time, Google Cloud has been growing quickly, with revenues rising 28% year-on-year to US$12.3 billion in the first quarter of 2025, supported by demand for AI tools and the expansion of Google Cloud Platform (GCP).
In digital advertising, Alphabet competes with Meta. Its revenue comes from a combination of search, video, and cloud services, reflecting a diversified business model. The company is also integrating AI into many of its products, although the impact on future performance is uncertain.
Since its IPO in 2004, priced at just over US$50 per share after adjustments, Alphabet has rewarded investors well, delivering a 10-year annualised return of 19.78% as of August 2025.
Microsoft
(NASDAQ: MSFT)
Microsoft’s story began in 1975, when Bill Gates and Paul Allen founded the company.
A decade later, in 1985, the first Windows operating system was launched, and in 1986 Microsoft went public with shares priced at US$21. In September 2025, at the time of writing, its stock trades near US$518, valuing it at approximately US$3.85 trillion.
A lot of this momentum is a result of its move towards cloud computing. Its Intelligent Cloud unit expanded 26% year over year in the fourth quarter of fiscal 2025, with Azure and other related services up 39%.
Microsoft has also become a steady dividend payer, raising its quarterly payout by 10% to US$0.91 in September 2025. Over the past decade, the stock has delivered an annualised return of nearly 29%. ²
Still, competition is fierce, and regulatory changes around AI and data privacy might reshape the industry. Shifts in enterprise IT budgets could also affect how fast Microsoft grows from here.
Gilead Sciences
(NASDAQ: GILD)
Gilead Sciences is a biotech firm based in the United States that specialises in antivirals, cancer, and liver disease.
It made almost US$29 billion in revenues in 2024, up by around 6%, driven primarily by consistent growth in HIV and oncology drugs. That strength was largely offset by softer sales of liver disease treatments and declining demand for its COVID-19 antiviral, Veklury.
The company has been expanding recently. In late 2024, its HIV prevention drug Lenacapavir was approved in the EU under the name Yeytuo, and in early 2025 it received approval in the U.S. as Yeztugo.
Over the last 15 years, Gilead’s stock has delivered an annualised return of about 15% as of 19th September 2025. ²
The company is running many clinical-stage programs and is investing in new therapies. At the same time, it might face challenges if older products lose ground, if competition in treatments intensifies, or if regulatory and pricing pressures increase.
Investment Risks and Market Volatility Considerations
All the top-performing stocks we’ve looked at so far have delivered strong returns, but investors should remember that investing always carries risk and there’s no certainty that past performance will continue in the years ahead. Hence, there are a few things you must consider before investing.
Risk and Market Volatility
Even stocks with an impressive track record come with risks. Market volatility can lead to sharp price swings over short periods, which may unsettle investors who lack a clear strategy.
While it’s often said that long-term investing can help cushion against volatility, short-term fluctuations are a normal part of markets and can still test an investor’s discipline.
A Concentrated Portfolio
The second element to consider is how concentrated your portfolio is. Having just a few stocks might amplify sensitivity to company-specific events like regulatory probes, product recalls, or changes in consumer preferences, etc.
Apart from this, macroeconomic conditions (e.g., inflation or interest-rate movements) might also affect industry performance in various ways.
The following are the possible steps investors may follow:
1. Diversification of Portfolio
Investors would normally offset the above-mentioned risks by diversifying their portfolio. An even distribution across industries and asset classes can potentially help manage risk but not eliminate it.
2. Defining Your Time Horizon
Time horizon is also a crucial aspect to consider. Shorter-term holdings may experience greater price fluctuations, whereas longer-term positions have historically been associated with lower sensitivity to short-term volatility. It is still crucial to match investments with needs for liquidity and diversify according to risk tolerance.
There are two metrics an investor may use to understand how sensitive a stock is to market volatility.
- Standard deviation
Simply put, standard deviation measures how much a stock price tends to fluctuate around its average price over a period of time. In other words, this metric shows the absolute volatility of the stock.
A higher standard deviation means the stock may be more volatile, which implies higher risk.
However, investors should note that standard deviation is just one statistical measure and does not by itself determine whether an investment is suitable or profitable.
- Beta
Beta is an indicator of how far a stock's price fluctuates compared to the overall market (typically a benchmark such as the S&P 500).
While beta can indicate to what extent a stock might react to market fluctuations, it should not be used alone to make investment decisions. Historical sensitivity to the market does not necessarily determine future performance.
Economic Conditions and Stock Performance
Macroeconomic conditions could affect the performance of stocks across industries.
Economic metrics (such as GDP growth, unemployment levels, monetary policy of the central banks) tend to influence how various sectors perform. For instance, weaker GDP growth or increasing unemployment can squeeze revenues of cyclical companies while defensive industries such as consumer staples would be less affected.
Likewise, increased inflation could cut into consumers' purchasing power. Meanwhile, certain commodity producers can perhaps sustain higher costs by raising their prices, potentially offsetting their revenues.
For example, companies such as JPMorgan Chase, Exxon Mobil, or PepsiCo are often cited as examples when discussing how banks, energy, or consumer-staples sectors may respond to changing economic conditions. Similarly, Boeing is often referenced when discussing how industrial and aerospace companies can be sensitive to shifts in economic growth and demand cycles.
The most important thing to recognise in all this is that no industry is absolutely safe. Certain industries can serve as a potential inflation hedge, whereas others tend to offer relative stability when the economy is in recession. As an investor, it is essential to do your research before investing.
Steps to Develop an Investment Strategy
Investors can adopt systematic methods to potentially manage risk while investing in the long run. Here are the steps that one may follow:
- Set investment goals and risk appetite
- Diversify by sectors and asset classes. Please note that diversification may help manage risk but does not eliminate it
- Review performance from time to time and rebalance the portfolio
Remember, this information is for educational purposes only and should not be considered financial advice. Investment outcomes are uncertain, and individuals should seek professional guidance before making investment decisions.
Ways to Put a Strategy into Action:
Dollar-cost averaging
This strategy is where a predetermined sum of money is invested at equal intervals, irrespective of market conditions. It may smooth out short-term fluctuations in the market and may lead to share accumulation gradually over time.
Buy-and-hold strategy
This is also a popular strategy where assets are bought and held for a long time. There are two techniques followed by investors in a buy-and-hold strategy.
- Value investing involves the selection of stocks that seem undervalued compared to fundamentals.
- Growth investing involves the selection of firms likely to grow at a higher rate than the market average.
Value vs Growth Stock
- Value stocks typically are marked by lower price-to-earnings (PE) multiples and stable cash flows, possibly having the potential to provide stable returns.
- Growth stocks, in contrast, are companies with potentially higher expected revenue or earnings growth and possibly trade at higher valuations.
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Frequently Asked Questions
What are the criteria for top-performing stocks?
The top-performing stocks selection criteria can range from consistent growth in revenue and earnings, favourable market sentiment, and potential future growth prospects. Other factors, such as innovation, competitive advantage, and management competence, could be taken into consideration.
However, investors should bear in mind that past performance is not indicative of future results. Investing in stocks involves risks, and investors may lose capital. It is important to conduct thorough research and consider your risk tolerance before making investment decisions.
What is the price to earnings ratio?
Price-to-Earnings (PE) ratio is a financial indicator calculated by dividing the stock price of a company by the earnings per share (EPS). It can help an investor determine if the market believes that the company has high future earnings potential. A higher PE ratio may indicate that investors anticipate higher future earnings, and a lower ratio can show that the stock may be undervalued.
The PE ratio is one of the various tools that investors may look at to evaluate a stock. It is not a guarantee for future performance, and any investment in stocks carries risk, including the risk of loss of capital.
How do I identify the next top-performing stocks?
Investors may consider reading quarterly results, balance sheets, profit and loss statements, understanding the company’s cash flows, and listening to the promoter’s guidance or commentary. However, past performance does not guarantee future results.
What's the difference between value and growth stocks?
Value stocks may trade at a discount from their intrinsic value. Growth stocks may have better anticipated earnings growth, but they can also have higher volatility. Both strategies entail market risk.
How does market volatility affect long-term performance?
Market volatility may affect near term returns, but long-term investors might focus on managing risk through diversification or dollar-cost averaging.
Should I invest in individual stocks or diversified funds?
Individual stocks can provide focused growth potential but have greater risk. Diversified funds such as index funds can distribute risk. Investors can adopt a strategy depending on their risk tolerance, goals, and investment horizon.
Sources:
² Morningstar, data as of 19 September 2025.
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