Top 20 best-performing S&P 500 stocks

The S&P 500 index has delivered an average annual return of 10.4% for the past 20 years. Some companies, however, have significantly outperformed the broader market, providing strong long-term returns for investors.

A new analysis from Morgan Stanley’s Counterpoint Global Insights identifies the top-performing S&P 500 stocks based on their annualised total returns (CAGR) over the past two decades.

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The top 20 stocks recorded an average annual return of 25.8%, more than double the performance of the broader index. The highest-ranking stock in the analysis is NVIDIA, which posted an annualised return of 39.2%. This growth has been attributed to increased demand for artificial intelligence and graphics processing technology.

Netflix follows with an annualised return of 36.5%, supported by its expansion in the streaming industry. Apple recorded a return of 32.0%, benefiting from strong product sales and a shift towards services revenue.

Other companies in the top 20 include Booking Holdings, Texas Pacific Land Corporation, and Monster Beverage, each exceeding 28% in annualised returns. Amazon, Salesforce, and Deckers Outdoor also appear among the top performers, each delivering annualised returns above 24%.

These companies have consistently delivered returns that are significantly higher than the S&P 500’s 10.4% annual average. The analysis attributes their performance to factors such as innovation, market expansion, and shifts in consumer behaviour.

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Technology firms dominate the list, with NVIDIA, Apple, and Netflix benefiting from advancements in digital services and increased consumer demand. Other sectors represented include healthcare and pharmaceuticals, with Regeneron Pharmaceuticals and Intuitive Surgical posting strong returns. Consumer and industrial firms such as Domino’s Pizza, O’Reilly Automotive, and Old Dominion Freight Line have also recorded steady growth over the period.

Here are the top 20 best-performing S&P 500 stocks by annualised returns from 2005 to 2024

1. NVIDIA — 39.2%

2. Netflix — 36.5%

3. Apple — 32.0%

4. Booking Holdings — 30.7%

5. Texas Pacific Land Corporation — 28.4%

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6. Monster Beverage — 28.0%

7. Intuitive Surgical — 26.9%

8. Amazon — 25.8%

9. Salesforce — 24.4%

10. Deckers Outdoor — 24.3%

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11. Regeneron Pharmaceuticals — 24.3%

12. Monolithic Power Systems — 24.0%

13. Tyler Technologies — 23.6%

14. Fair Isaac Corporation — 22.3%

15. Old Dominion Freight Line — 22.0%

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16. O’Reilly Automotive — 21.9%

17. Domino’s Pizza — 21.7%

18. Quanta Services — 20.3%

19. Lennox International — 20.2%

20. Alphabet — 20.2%