What Is the Valor Inovação Brasil Ranking?

The Valor Inovação Brasil study, conducted annually by Valor Econômico and Época Negócios in partnership with Strategy& (PwC's strategic consulting arm), ranks Brazil's 150 most innovative companies. The 2026 edition analyzed roughly 540 case studies submitted by 270 companies across 26 sectors.

Which Company Topped the 2026 Ranking?

CNH, the agricultural and construction machinery manufacturer, claimed the top spot this year, achieving the highest scores across all evaluated criteria. Rounding out the top ten were Einstein, Claro, Robert Bosch, Natura, Baterias Moura, Axia Energia, Embraer, Grupo Boticário, and Andrade Gutierrez. The winners were celebrated on August 3 at São Paulo's Hotel Unique.

How Much Did Brazilian Companies Invest in Innovation?

The 270 participating companies directed R$ 82 billion toward innovation in 2025 — a 17% increase compared to the previous edition of the survey. Among the top 20 most innovative firms, the share investing more than 5% of net revenue in innovation jumped from 45% to 80% year-on-year.

Is Innovation Actually Delivering Results?

According to Willer Marcondes, partner for financial services at Strategy&, leading companies treat innovation as a strategic investment with a protected budget tied to measurable targets. The data backs this up: for approximately 38% of participants, more than 10% of cost reductions in the last fiscal year came directly from innovations implemented over the prior three years. In 12.5% of cases, those innovations drove cost cuts exceeding 30%.

What Do Experts Say About Innovation Budgeting?

Maria Fernanda Delmas, editorial director at Valor and Editora Globo's business brands, stressed that innovation spending must not depend on leftover cash. "It must come first. The risk of not doing so is losing long-term competitiveness," she said. Experts also highlighted that senior leadership commitment is essential, given that innovation is inherently tied to uncertainty.

Key Facts:
  • 270 companies across 26 sectors participated in the 2026 ranking
  • R$ 82 billion invested in innovation in 2025 — up 17% year-on-year
  • CNH is the overall champion; top 10 includes Embraer, Natura, and Claro
  • 80% of the top 20 companies invest more than 5% of net revenue in innovation
  • 38% of participants cut costs by over 10% thanks to innovations from the past three years
  • Awards ceremony held on August 3 at Hotel Unique, São Paulo