Atlas Copco, a global manufacturer of air compressors, air treatment systems, expanders and other such equipment, has been named once again on the Forbes Top 100 Innovation shortlist.

The list, one of several Top 100s compiled by Forbes, uses an economic measure of ‘innovation’ defined by the difference between the market capitalisation of the firm and its value based on existing businesses.

Forbes explains that the discrepancy between the two figures is an indication of the extent to which investors believe the company will innovate – and therefore grow into new areas – in the immediate future.

Those on the list must spend substantial amounts on research and development, eliminating companies whose anticipated future value is linked, for example, with rising commodity prices.

Once the sums have been calculated, the final score is presented as the Innovation Premium, equivalent to the percentage of the existing company value that is expected to be added through innovation in the near future.

Atlas Copco ranked 94th on the latest instalment of the list, with an Innovation Premium of 19.6% – close behind sportswear brand Adidas and technology giant Nintendo.