Innovation at Red Hat (NYSE: RHT) earned the Raleigh-based open source software and services firm the No. 26 spot on the 2015 Forbes “World’s Most Innovative Companies” list.

Who’s No. 1? Tesla.

Other firms with Triangle links that placed:

  • Novozymes at No. 54
  • Tencent (a 40 percent owner of Cary-based Epic Games) at No. 55
  • Grifols at No. 92

Valeant Pharmaceuticals, which is buying Raleigh-based Sprout Pharmaceuticals, came in No. 31.

The Hatters, who focus on Linux, received an “innovation premium” score of 55.97 percent. The score is determined by a variety of factors.

It’s the third time Red Hat has made the list, which launched in 2011.

“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,” said Red Hat CEO Jim Whitehurst.

“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.”

Here’s how Forbes defines the “innovation premium:”

“A company’s innovation premium is the proportion of a company’s market value that cannot be accounted for from the net present value of cash flows of its current products or services in its current markets. Put another way, it’s the premium the stock market gives a company because investors expect it to launch new offerings, utilize existing resources more efficiently, or enter new markets that will generate even bigger income streams in the future. We developed this metric in concert with HOLT (Credit Suisse) and first introduced it in The Innovator’s DNA where we used it to create a ranking of the world’s most innovative companies.”

Read the full list at: