Jim Whitehurst, president and CEO, Red Hat
Red Hat, Inc., the world's leading provider of open source solutions, today announced that it has once again been named to Forbes' list of the “World's Most Innovative Companies.” Red Hat was ranked at 26 on the list, which recognizes a total of 100 companies from around the world. It is the third time Red Hat has been honored by Forbes.
The list of the World's Most Innovative Companies is compiled using “...investors' ability to identify firms they expect to be innovative now and in the future.” Companies are ranked based on Forbes' “Innovation Premium,” which, according to the publication, “is calculated first by projecting a company’s income (cash flows, in this case) from its existing businesses and looking at the net present value (NPV) of those cash flows.” Forbes compares this base value with companies' current Enterprise Value (EV). Companies with an EV above the base value have an innovation premium built into their stock price.
Jim Whitehurst, president and CEO, Red Hat: “It's an honor to be named to Forbes' World's Most Innovative Companies for the third time, especially as this year's list continues to highlight the innovation powering companies across all industries, not just technology. It is this same commitment to innovation that drives Red Hat and has been key to the success of both our open source products and our business at-large, proving the continued adaptability and viability of our model in the ever-changing business world.”