In early 2008 I asked my Merrill Lynch broker for a list of stocks of American robot manufacturers. He couldn’t provide me with more than two. So I went online with Bloomberg and found a list of 120 companies involved with automation. When I researched them, there were only a few in the U.S. and fewer still where robotics was the principle business.

Today, in the article which appeared under the NASDAQ banner shown above, it is clear that things haven’t improved since 2008. The list is full of errors, omissions and was selected by market cap — yet most of the companies are conglomerates with only a small portion of their sales from robotics, thus market cap is meaningless as regarding robotics. As a consequence, not much of the information is of value even though the topic is relevant.

Their list of 10 robot stocks included ABB, Sony, Panasonic, Phillips, Raytheon, Aetna, Dover, Moog, Elbit and iRobot.

• Only four of the ten are U.S. companies.
• iRobot (NASDAQ:IRBT) derives 100% of its revenue from robotic products, mostly military (PackBots), but also consumer-related (Roomba vacuum cleaners).
• Raytheon (NYSE:RTN), an aerospace/defense company, has many kinds of robotic products: drones, exoskeletons, vision systems, etc. Still, robotics represents only a very small portion of their overall revenue.
• Moog (NYSE:MOG.A), another aerospace/defense contractor and systems integrator, derives some revenue from the manufacture of sensors, haptics, unmanned aerial systems and ancillary products.
• Dover Corp (NYSE:DOV), a machine manufacturer, gets just a small amount of their revenue from robotic grippers and components.
• Aetna, the American health care company listed, doesn’t have any robotic activity whatsoever. The researcher confused Aetna with Aetna Group SpA, a privately-owned Italian robotics manufacturer. [I wrote to the analyst about this error and he replied that he is going to correct it asap.]
• ABB (NYSE:ABB ADR) is a Swiss conglomerate; robotics represents only 18% of total revenue.
• Honda (NYSE:HNC ADR), a Japanese auto company, presently has no robotic products for sale, although it is a big user and has many under development, the most prominent of which is Asimo.
• Panasonic (NYSE: PC ADR), also Japanese, is a multi-product company with robotics representing a small percent of the total.
• Koninklijke Philips Electronics (NYSE:PHG ADR), from the Netherlands, has few robotic products which represent only a minimal percentage of their revenue.
• Elbit (NASDAQ:ESLT ADR), an Israeli defense contractor, is actively involved in unmanned aircraft, surveillance and other robotic systems – nevertheless robotics represent less than 20% of gross revenue.
• Missing from the list were the world’s biggest robot manufacturers: KUKA (ETR:KU2 London Stock Exchange) and Reis (privately held) (Germany), and Denso (TYO:6902 Tokyo Stock Exchange)), Yaskawa Motoman (TYO:6506) and FANUC (TYO:6954) (Japan).