Nvidia stock has surged 332,000% since its 1999 IPO, leading the past 20 years.
Despite its growth, Nvidia isn't among the top-performing stocks of the last century.
Below, we list the 27 best-performing stocks since 1925, according to Hendrik Bessembinder's.
Nvidia stock has soared almost 332,000% since the company went public in 1999. As of December 2023, it's been the best-performing stock of the last 20 years with a 33.38% average annual return, according to Hendrik Bessembinder, a professor at Arizona State University.
Yet, data in a recent paper published by Bessembinder shows it still has a ways to go to sit among the top-performing stocks of the last 100 years.
In the paper, Bessembinder looked at over 29,000 US stocks and compiled a list of the 30 stocks with the highest cumulative returns over the last century, assuming a buy-and-hold strategy and the dividends reinvested.
Interestingly, negative returns were a more common outcome than gains, with 51.6% of stocks being in the red. The median return was -7.41%, but with some stocks having incredible upside, the mean return was 22,840%.
Below, we've listed 27 of those 30 top stocks that are still trading today, along with their total cumulative returns, annual compound returns, years since their first return in the study's timeframe (December 1925-December 2023), and how much each dollar originally invested is worth today, per the data in Bessembinder's paper. Data is pulled from the Center for Research in Security Prices, he said.
It should be noted that Bessembinder isn't recommending these stocks as investments. The adage that prior performance does not guarantee future results applies.
Altria Group
Cumulative compound return: 265,528,900.62%
Annualized Compound Return: 16.29%
Years since first return: 98
How much each dollar originally invested is worth today: $2,655,290
Vulcan Materials
Cumulative compound return: 39,349,084.13%
Annualized Compound Return: 14.05%
Years since first return: 98
How much each dollar originally invested is worth today: $393,492
General Dynamics
Cumulative compound return: 22,084,880.36%
Annualized Compound Return: 13.39%
Years since first return: 97.92
How much each dollar originally invested is worth today: $220,850
Boeing
Cumulative compound return: 21,220,526.33%
Annualized Compound Return: 14.72%
Years since first return: 89.32
How much each dollar originally invested is worth today: $212,206
IBM
Cumulative compound return: 17,543,644.18%
Annualized Compound Return: 13.11%
Years since first return: 98
How much each dollar originally invested is worth today: $175,437
Eaton
Cumulative compound return: 15,117,167.57%
Annualized Compound Return: 12.94%
Years since first return: 98
How much each dollar originally invested is worth today: $151,173
S&P Global
Cumulative compound return: 12,878,643.34%
Annualized Compound Return: 13.20%
Years since first return: 94.87
How much each dollar originally invested is worth today: $128,787
Coca-Cola
Cumulative compound return: 12,372,265.06%
Annualized Compound Return: 12.71%
Years since first return: 98
How much each dollar originally invested is worth today: $123,724
Pepsico
Cumulative compound return: 8,635,937.80%
Annualized Compound Return: 12.30%
Years since first return: 98
How much each dollar originally invested is worth today: $86,360
Abbot Laboratories
Cumulative compound return: 7,803,730.36%
Annualized Compound Return: 13.85%
Years since first return: 83.83
How much each dollar originally invested is worth today: $78,038
Universal
Cumulative compound return: 7,031,700.72%
Annualized Compound Return: 12.31
Years since first return: 96.13
How much each dollar originally invested is worth today: $70,318
Deere & Co.
Cumulative compound return: 6,988,538.63%
Annualized Compound Return: 13.12
Years since first return: 90.5
How much each dollar originally invested is worth today: $69,886
Hershey
Cumulative compound return: 6,909,822.15%
Annualized Compound Return: 12.30%
Years since first return: 96.08
How much each dollar originally invested is worth today: $69,099
Johnson & Johnson
Cumulative compound return: 5,427,968.94%
Annualized Compound Return: 14.75%
Years since first return: 79.26
How much each dollar originally invested is worth today: $54,281
Archer Daniels Midland
Cumulative compound return: 5,181,049.17%
Annualized Compound Return: 11.71%
Years since first return: 98
How much each dollar originally invested is worth today: $51,811
CVS
Cumulative compound return: 4,693,845.60%
Annualized Compound Return: 11.95%
Years since first return: 95.26
How much each dollar originally invested is worth today: $46,939
Exxon Mobil
Cumulative compound return: 4,027,183.13%
Annualized Compound Return: 11.43%
Years since first return: 98
How much each dollar originally invested is worth today: $40,273
Northrup Grumman
Cumulative compound return: 3,949,426.66%
Annualized Compound Return: 15.82%
Years since first return: 72.05
How much each dollar originally invested is worth today: $39,495
Trane Technologies
Cumulative compound return: 3,923,693.49%
Annualized Compound Return: 11.4%
Years since first return: 98
How much each dollar originally invested is worth today: $39,238
FMC
Cumulative compound return: 3699995.48%
Annualized Compound Return: 12.02%
Years since first return: 92.69
How much each dollar originally invested is worth today: $37,001
Caterpillar
Cumulative compound return: 3,690,210.17%
Annualized Compound Return: 11.83
Years since first return: 94.08
How much each dollar originally invested is worth today: $36,903
Bristol-Myers Squibb
Cumulative compound return: 3,486,607.85%
Annualized Compound Return: 12.28%
Years since first return: 90.31
How much each dollar originally invested is worth today: $34,867
Tootsie Roll
Cumulative compound return: 3,440,011.10%
Annualized Compound Return: 11.25%
Years since first return: 98
How much each dollar originally invested is worth today: $34,401
Pfizer
Cumulative compound return: 2,898,900.69%
Annualized Compound Return: 13.71%
Years since first return: 79.95
How much each dollar originally invested is worth today: $28,990
Kroger
Cumulative compound return: 2,834,362.61%
Annualized Compound Return: 11.28%
Years since first return: 95.93
How much each dollar originally invested is worth today: $28,345
Walgreens Boots Alliance
Cumulative compound return: 2,705,196.76%
Annualized Compound Return: 12.03%
Years since first return: 89.87
How much each dollar originally invested is worth today: $27,053
Emerson Electric
Cumulative compound return: 2,409,682.63%
Annualized Compound Return: 13.57%
Years since first return: 79.32
How much each dollar originally invested is worth today: $24,098
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