Research · refreshed nightly · July 28, 2026
The Best Recurring Revenue Businesses (July 2026)
Recurring revenue machines.
The best recurring revenue business on our list, by MGI, is not software. Alnylam Pharmaceuticals leads these 50 names at 76, compounding revenue 38% a year at a $44B cap, its therapies as recurring as any license. Veeva at 75 and Samsara at 74 restore the expected order.
Recurring revenue earns its gravity only when the share count stays still. ServiceTitan grows 20% a year but gives back 15% per share to dilution, and Rubrik's 34% headline becomes a 35% per-share decline. A median MGI of 65.5 says the model works more often than not. Click any name for the full citation-backed analysis.
50companies qualify
68median MGI
11joined this week
The ranking
Sorted by MGI
1
Alnylam Pharmaceuticals, Inc.ALNY🇺🇸
Revenue +38%/yr · +35%/yr per share · asset light
G 76V 58O 80Cap $40.7B
MGI
76
MVI
58
MTI
42
MOI
80
Cap
$40.7B
Growth
+96%2
Veeva Systems Inc.VEEV🇺🇸
Revenue +14%/yr · +13%/yr per share · asset light
G 75V 68O 87Cap $28.5B
MGI
75
MVI
68
MTI
37
MOI
87
Cap
$28.5B
Growth
+14%3
Samsara Inc.IOT🇺🇸
Revenue +36%/yr · +14%/yr per share · asset light
G 74V 56O 77Cap $19.2B
MGI
74
MVI
56
MTI
40
MOI
77
Cap
$19.2B
Growth
+31%4
Atlassian CorporationTEAM🇦🇺
Revenue +21%/yr · +20%/yr per share · asset light
G 73V 75O 82Cap $20.9B
MGI
73
MVI
75
MTI
44
MOI
82
Cap
$20.9B
Growth
+32%5
Vitalhub Corp.VHI.CA🇨🇦
Revenue +37%/yr · +23%/yr per share · asset light
G 73V 71O 80Cap $309.8M
MGI
73
MVI
71
MTI
28
MOI
80
Cap
$309.8M
Growth
+47%6
Zscaler, Inc.ZS🇺🇸
Revenue +33%/yr · +29%/yr per share · asset light
G 71V 64O 76Cap $22.5B
MGI
71
MVI
64
MTI
46
MOI
76
Cap
$22.5B
Growth
+25%7
Guidewire Software, Inc.GWRE🇺🇸
Revenue +14%/yr · +13%/yr per share · asset light
G 71V 64O 79Cap $12.1B
MGI
71
MVI
64
MTI
32
MOI
79
Cap
$12.1B
Growth
+27%8
argenx SEARGX🇳🇱
Revenue +58%/yr · +50%/yr per share · asset light
G 71V 57O 74Cap $56.6B
MGI
71
MVI
57
MTI
43
MOI
74
Cap
$56.6B
Growth
+64%9
Triple Flag Precious Metals Corp.TFPM🇨🇦
Revenue +25%/yr · +17%/yr per share · asset light
G 71V 58O 74Cap $6.0B
MGI
71
MVI
58
MTI
37
MOI
74
Cap
$6.0B
Growth
+79%10
Sectra ABSECT.B.SE🇸🇪
Revenue +15%/yr · +15%/yr per share · asset light
G 71V 52O 72Cap $4.9B
MGI
71
MVI
52
MTI
28
MOI
72
Cap
$4.9B
Growth
+13%11
ServiceTitan, Inc.TTAN🇺🇸
Revenue +20%/yr · -15%/yr per share · asset light
G 71V 66O 78Cap $6.4B
MGI
71
MVI
66
MTI
42
MOI
78
Cap
$6.4B
Growth
+25%12
Pure Cycle CorporationPCYO🇺🇸
Revenue +18%/yr · +18%/yr per share · scale economics
G 70V 59O 72Cap $257.3M
MGI
70
MVI
59
MTI
28
MOI
72
Cap
$257.3M
Growth
+60%13
Constellation Software Inc.CSU.CA🇨🇦
Revenue +19%/yr · +19%/yr per share · scale economics
G 70V 60O 75Cap $47.1B
MGI
70
MVI
60
MTI
38
MOI
75
Cap
$47.1B
Growth
+20%14
Eagle Eye Solutions Group plcEYE.GB🇬🇧
Revenue +17%/yr · +11%/yr per share · asset light
G 70V 67O 75Cap $196.6M
MGI
70
MVI
67
MTI
42
MOI
75
Cap
$196.6M
Growth
+11%15
Rubrik, Inc.RBRK🇺🇸
Revenue +34%/yr · -35%/yr per share · asset light
G 70V 57O 73Cap $15.4B
MGI
70
MVI
57
MTI
44
MOI
73
Cap
$15.4B
Growth
+39%16
Diploma PLCDPLM.GB🇬🇧
Revenue +15%/yr · +13%/yr per share · scale economics
G 70V 55O 73Cap $12.1B
MGI
70
MVI
55
MTI
37
MOI
73
Cap
$12.1B
Growth
+12%17
United Therapeutics CorporationUTHR🇺🇸
Revenue +13%/yr · +13%/yr per share · asset light
G 70V 52O 71Cap $25.6B
MGI
70
MVI
52
MTI
55
MOI
71
Cap
$25.6B
Growth
-2%18
Nordrest Holding ABNREST.SE🇸🇪
Revenue +38%/yr · +31%/yr per share · scale economics
G 69V 68O 74Cap $373.8M
MGI
69
MVI
68
MTI
45
MOI
74
Cap
$373.8M
Growth
+30%19
Fortinet, Inc.FTNT🇺🇸
Revenue +16%/yr · +19%/yr per share · asset light
G 69V 52O 70Cap $111.6B
MGI
69
MVI
52
MTI
44
MOI
70
Cap
$111.6B
Growth
+16%20
Tatton Asset Management plcTAM.GB🇬🇧
Revenue +14%/yr · +14%/yr per share · scale economics
G 69V 65O 74Cap $529.7M
MGI
69
MVI
65
MTI
37
MOI
74
Cap
$529.7M
Growth
+20%21
Adyen N.V.ADYEN.NL🇳🇱
Revenue +28%/yr · +27%/yr per share · asset light
G 69V 64O 74Cap $29.9B
MGI
69
MVI
64
MTI
45
MOI
74
Cap
$29.9B
Growth
+19%22
JFrog Ltd.FROG🇺🇸
Revenue +22%/yr · +17%/yr per share · asset light
G 69V 57O 73Cap $9.8B
MGI
69
MVI
57
MTI
38
MOI
73
Cap
$9.8B
Growth
+26%23
Hamilton Lane IncorporatedHLNE🇺🇸
Revenue +15%/yr · +7%/yr per share · asset light
G 69V 63O 73Cap $4.6B
MGI
69
MVI
63
MTI
43
MOI
73
Cap
$4.6B
Growth
-2%24
Bentley Systems, IncorporatedBSY🇺🇸
Revenue +10%/yr · +9%/yr per share · asset light
G 69V 57O 72Cap $10.5B
MGI
69
MVI
57
MTI
38
MOI
72
Cap
$10.5B
Growth
+15%25
AvePoint, Inc.AVPT🇺🇸
Revenue +18%/yr · +7%/yr per share · asset light
G 68V 70O 75Cap $2.4B
MGI
68
MVI
70
MTI
45
MOI
75
Cap
$2.4B
Growth
+26%26
Duolingo, Inc.DUOL🇺🇸
Revenue +34%/yr · +16%/yr per share · asset light
G 68V 65O 73Cap $5.4B
MGI
68
MVI
65
MTI
45
MOI
73
Cap
$5.4B
Growth
+27%27
HubSpot, Inc.HUBS🇺🇸
Revenue +20%/yr · +18%/yr per share · asset light
G 68V 66O 73Cap $12.0B
MGI
68
MVI
66
MTI
46
MOI
73
Cap
$12.0B
Growth
+23%28
Cadence Design Systems, Inc.CDNS🇺🇸
Revenue +14%/yr · +15%/yr per share · asset light
G 68V 48O 67Cap $95.1B
MGI
68
MVI
48
MTI
52
MOI
67
Cap
$95.1B
Growth
+19%29
Datadog, Inc.DDOG🇺🇸
Revenue +29%/yr · +25%/yr per share · asset light
G 68V 49O 68Cap $89.7B
MGI
68
MVI
49
MTI
40
MOI
68
Cap
$89.7B
Growth
+29%30
Red Violet, Inc.RDVT🇺🇸
Revenue +16%/yr · +15%/yr per share · asset light
G 68V 57O 70Cap $888.9M
MGI
68
MVI
57
MTI
43
MOI
70
Cap
$888.9M
Growth
+17%31
TMX Group LimitedX.CA🇨🇦
Revenue +13%/yr · +13%/yr per share · asset light
G 68V 59O 71Cap $9.9B
MGI
68
MVI
59
MTI
38
MOI
71
Cap
$9.9B
Growth
+24%32
Gaztransport et Technigaz S.A.GTT.FR🇫🇷
Revenue +15%/yr · +15%/yr per share · asset light
G 68V 64O 76Cap $7.3B
MGI
68
MVI
64
MTI
42
MOI
76
Cap
$7.3B
Growth
+25%33
Agilysys, Inc.AGYS🇺🇸
Revenue +17%/yr · +14%/yr per share · asset light
G 68V 57O 71Cap $2.9B
MGI
68
MVI
57
MTI
46
MOI
71
Cap
$2.9B
Growth
+12%34
Accelerant HoldingsARX🇺🇸
Revenue +59%/yr · +51%/yr per share · asset light
G 68V 70O 75Cap $3.1B
MGI
68
MVI
70
MTI
42
MOI
75
Cap
$3.1B
Growth
+64%35
OR Royalties Inc.OR.CA🇨🇦
Revenue +13%/yr · +10%/yr per share · asset light
G 68V 63O 73Cap $5.5B
MGI
68
MVI
63
MTI
43
MOI
73
Cap
$5.5B
Growth
+87%36
Nemetschek SENEM.DE🇩🇪
Revenue +12%/yr · +12%/yr per share · asset light
G 68V 64O 74Cap $8.1B
MGI
68
MVI
64
MTI
43
MOI
74
Cap
$8.1B
Growth
+8%37
ATOSS Software SEAOF.DE🇩🇪
Revenue +17%/yr · +17%/yr per share · asset light
G 67V 51O 67Cap $1.8B
MGI
67
MVI
51
MTI
38
MOI
67
Cap
$1.8B
Growth
+11%38
AppFolio, Inc.APPF🇺🇸
Revenue +24%/yr · +24%/yr per share · asset light
G 67V 65O 74Cap $5.8B
MGI
67
MVI
65
MTI
47
MOI
74
Cap
$5.8B
Growth
+20%39
Lumine Group Inc.LMN.CA🇨🇦
Revenue +28%/yr · +26%/yr per share · scale economics
G 67V 60O 71Cap $5.0B
MGI
67
MVI
60
MTI
42
MOI
71
Cap
$5.0B
Growth
+11%40
The Trade Desk, Inc.TTD🇺🇸
Revenue +20%/yr · +20%/yr per share · asset light
G 67V 72O 75Cap $9.5B
MGI
67
MVI
72
MTI
50
MOI
75
Cap
$9.5B
Growth
+20%41
The Descartes Systems Group Inc.DSG.CA🇨🇦
Revenue +13%/yr · +13%/yr per share · asset light
G 67V 57O 70Cap $7.3B
MGI
67
MVI
57
MTI
37
MOI
70
Cap
$7.3B
Growth
+16%42
DoubleVerify Holdings, Inc.DV🇺🇸
Revenue +18%/yr · +17%/yr per share · asset light
G 67V 73O 78Cap $1.6B
MGI
67
MVI
73
MTI
43
MOI
78
Cap
$1.6B
Growth
+10%43
Life360, Inc.LIF🇺🇸
Revenue +36%/yr · +23%/yr per share · asset light
G 67V 61O 71Cap $3.8B
MGI
67
MVI
61
MTI
52
MOI
71
Cap
$3.8B
Growth
+38%44
Cloudflare, Inc.NET🇺🇸
Revenue +29%/yr · +26%/yr per share · asset light
G 67V 46O 65Cap $83.6B
MGI
67
MVI
46
MTI
43
MOI
65
Cap
$83.6B
Growth
+34%45
MongoDB, Inc.MDB🇺🇸
Revenue +27%/yr · +21%/yr per share · asset light
G 67V 58O 69Cap $22.6B
MGI
67
MVI
58
MTI
40
MOI
69
Cap
$22.6B
Growth
+25%46
Brookfield Asset Management Ltd.BAM🇺🇸
Revenue +10%/yr · +5%/yr per share · asset light
G 66V 56O 69Cap $73.6B
MGI
66
MVI
56
MTI
40
MOI
69
Cap
$73.6B
Growth
+15%47
Clear Secure, Inc.YOU🇺🇸
Revenue +30%/yr · +23%/yr per share · asset light
G 66V 62O 72Cap $7.1B
MGI
66
MVI
62
MTI
52
MOI
72
Cap
$7.1B
Growth
+20%48
Intapp, Inc.INTA🇺🇸
Revenue +18%/yr · +5%/yr per share · asset light
G 66V 75O 75Cap $2.1B
MGI
66
MVI
75
MTI
42
MOI
75
Cap
$2.1B
Growth
+13%
Changed this week
Week over week, from the nightly refresh.
Entered
Agilysys, Inc. (AGYS) · joined at #33 · Revenue +17%/yr · +14%/yr per share · asset light
EnteredEagle Eye Solutions Group plc (EYE.GB) · joined at #14 · Revenue +17%/yr · +11%/yr per share · asset light
EnteredAccelerant Holdings (ARX) · joined at #34 · Revenue +59%/yr · +51%/yr per share · asset light
EnteredOR Royalties Inc. (OR.CA) · joined at #35 · Revenue +13%/yr · +10%/yr per share · asset light
EnteredIVU.DE (IVU.DE) · since left the ranking
+6 more
PCOR, PGHN.CH, APPF, 1INN.DE, CSGP, TAM.GB also joined
Left
IVU.DE, 1INN.DE, PCOR, CSGP, CRWD, PGHN.CH, 6160.US, NOW, OVZON.SE, MSCI, 1INN.DE
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Research tool, not investment advice. Rankings are generated by our models from company filings and market data, refresh nightly, and are identical for every visitor. Scores reflect our methodology and are not recommendations to act. Data as of 2026-07-28.