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For the third year in a row, Essilor International was included on Forbes annual list of The World’s Most Innovative Companies. This year, the eyeglass lens manufacturer was ranked as the 23rd most innovative company in the world, progressing from their 2012 ranking at number 28and the 2011 ranking as the 25th most innovative company in the world.
This year, Essilor received its highest ranking thus far in Forbes annual list, ahead of Google, Apple and Kellogg. To view the complete list of the world’s most innovative companies, click here.
Forbes uses a unique methodology – relying on the “wisdom of the crowd” – to compile the list of the top 100 most innovative companies in the world. Forbes ranks companies by relying on investors’ ability to identify firms they expect to be innovative now and in the future.
According to Forbes, “Companies are ranked by their innovation premium: the difference between their market capitalization and a net present value of cash flows from existing businesses (based on a proprietary formula from HOLT/Credit Suisse). The difference between them is the bonus given by equity investors on the educated hunch that the company will continue to come up with profitable new growth.”
You can view the full methodology behind the rankings here.