Need another excuse to brag about Houston? Three locally-based entities rank among the World's Most Innovative Companies, according to a new list compiled by Forbes Magazine in collaboration with Hal Gregersen and Jeff Dyer, the authors of The Innovator's DNA.
In the ranking process, analysts recognized that the top companies share a tendency to "leverage people, process, and philosophies" to keep innovation alive.
The company has seen 29.8 percent sales growth over the past year, plus 18.4 percent five-year annualized total return and a 40.7 percent innovation premium, a methodology that takes into account projected cash flows from existing businesses, anticipated growth from those businesses and the net present value of the cash flows.
Cameron International, another Houston-based oil and gas company, ranks No. 72 with a 15.2 percent 12-month sales growth, an 8.5 percent five-year annualized return and 21.6 innovation premium.
At No. 73, exploration and production giant Anadarko Petroleum falls just behind the former with an 11.8 percent 12-month sales growth, an 8.4 percent five-year annualized total return and a 21.4 innovation premium.