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Top Action indie studios by revenue

indielist ranks 100 indie studios that ship Action games, by estimated revenue from their Action titles (white-box, Boxleiter-derived from Steam reviews). Leading is Valve at ~$6897.0M. Estimates, not financials — open the formula on any game.

  1. 1 Valve top: Counter-Strike 2 10 titles ~$6897.0M
  2. 2 FromSoftware, Inc. top: ELDEN RING 8 titles ~$4457.3M
  3. 3 Rockstar Games top: Red Dead Redemption 2 3 titles ~$2599.0M
  4. 4 CAPCOM Co., Ltd. top: Monster Hunter: World 18 titles ~$2587.1M
  5. 5 Facepunch Studios top: Rust 4 titles ~$2351.5M
  6. 6 Ubisoft Montreal top: Tom Clancy's Rainbow Six Siege 12 titles ~$2280.5M
  7. 7 Game Science top: Black Myth: Wukong 1 title ~$2244.2M
  8. 8 Bohemia Interactive top: DayZ 4 titles ~$1317.3M
  9. 9 PUBG Corporation top: PUBG: BATTLEGROUNDS 1 title ~$1055.9M
  10. 10 Hello Games top: No Man's Sky 1 title ~$1003.4M
  11. 11 DICE top: Battlefield™ 2042 4 titles ~$961.0M
  12. 12 CREATIVE ASSEMBLY top: Total War: WARHAMMER II 5 titles ~$957.0M
  13. 13 Endnight Games Ltd top: The Forest 2 titles ~$795.2M
  14. 14 Playground Games top: Forza Horizon 5 1 title ~$782.7M
  15. 15 Gearbox Software top: Borderlands 3 6 titles ~$727.7M
  16. 16 Avalanche Software top: Hogwarts Legacy 1 title ~$693.9M
  17. 17 Treyarch top: Call of Duty®: Black Ops III 4 titles ~$681.7M
  18. 18 Hazelight Studios top: It Takes Two 3 titles ~$680.9M
  19. 19 Rare Ltd top: Sea of Thieves: 2026 Edition 1 title ~$656.6M
  20. 20 TaleWorlds Entertainment top: Mount & Blade II: Bannerlord 3 titles ~$624.0M
  21. 21 Behaviour Interactive Inc. top: Dead by Daylight 1 title ~$604.4M
  22. 22 Ubisoft Quebec top: Assassin's Creed® Odyssey 2 titles ~$599.9M
  23. 23 Square Enix top: NieR:Automata™ 8 titles ~$593.5M
  24. 24 Re-Logic top: Terraria 1 title ~$590.8M
  25. 25 Team Cherry top: Hollow Knight 3 titles ~$590.5M
  26. 26 Kinetic Games top: Phasmophobia 1 title ~$580.2M
  27. 27 Studio Wildcard top: ARK: Survival Evolved 8 titles ~$546.7M
  28. 28 The Fun Pimps top: 7 Days to Die 2 titles ~$526.4M
  29. 29 Techland top: Dying Light 2 Stay Human: Reloaded Edition 4 titles ~$521.5M
  30. 30 343 Industries top: Halo: The Master Chief Collection 2 titles ~$502.1M
  31. 31 Quantic Dream top: Detroit: Become Human 3 titles ~$496.3M
  32. 32 Ubisoft top: Watch_Dogs® 2 5 titles ~$480.9M
  33. 33 Supergiant Games top: Hades 4 titles ~$479.9M
  34. 34 Warhorse Studios top: Kingdom Come: Deliverance II 2 titles ~$470.7M
  35. 35 Ghost Games top: Need for Speed™ Heat 2 titles ~$441.0M
  36. 36 Smartly Dressed Games top: Unturned 1 title ~$434.4M
  37. 37 Offworld top: Squad 4 titles ~$422.6M
  38. 38 Pocketpair top: Palworld 2 titles ~$416.5M
  39. 39 Insomniac Games top: Marvel’s Spider-Man Remastered 4 titles ~$416.0M
  40. 40 KOEI TECMO GAMES CO., LTD. top: Nioh 2 – The Complete Edition 7 titles ~$410.8M
  41. 41 Iron Gate AB top: Valheim 1 title ~$388.2M
  42. 42 Crystal Dynamics top: Rise of the Tomb Raider™ 2 titles ~$377.2M
  43. 43 Obsidian Entertainment top: Grounded 5 titles ~$361.1M
  44. 44 Saber Interactive top: Warhammer 40,000: Space Marine 2 1 title ~$354.1M
  45. 45 Santa Monica Studio top: God of War 2 titles ~$347.8M
  46. 46 BioWare top: Mass Effect™ Legendary Edition 4 titles ~$334.3M
  47. 47 Ubisoft Paris top: Tom Clancy's Ghost Recon® Wildlands 2 titles ~$333.4M
  48. 48 id Software top: DOOM Eternal 2 titles ~$330.3M
  49. 49 Sandfall Interactive top: Clair Obscur: Expedition 33 1 title ~$325.8M
  50. 50 4A Games top: Metro Exodus 3 titles ~$321.0M
  51. 51 Moon Studios GmbH top: Ori and the Will of the Wisps 3 titles ~$316.1M
  52. 52 Bandai Namco Studios Inc. top: ACE COMBAT™ 7: SKIES UNKNOWN 3 titles ~$314.8M
  53. 53 Fatshark top: Warhammer 40,000: Darktide 4 titles ~$311.8M
  54. 54 Respawn Entertainment top: STAR WARS Jedi: Fallen Order™ 1 title ~$310.6M
  55. 55 Hopoo Games top: Risk of Rain 2 4 titles ~$302.9M
  56. 56 Nicalis, Inc. top: The Binding of Isaac: Rebirth 5 titles ~$298.9M
  57. 57 Hangar 13 top: Mafia: Definitive Edition 4 titles ~$295.6M
  58. 58 Klei Entertainment top: Don't Starve Together 2 titles ~$289.5M
  59. 59 Eidos-Montréal top: Marvel's Guardians of the Galaxy 3 titles ~$288.3M
  60. 60 Red Barrels top: The Outlast Trials 4 titles ~$280.3M
  61. 61 Rockstar North top: Grand Theft Auto V Enhanced 2 titles ~$265.2M
  62. 62 Rebellion top: Sniper Elite 4 3 titles ~$263.5M
  63. 63 Pearl Abyss top: Crimson Desert 2 titles ~$260.7M
  64. 64 Monolith Productions top: Middle-earth™: Shadow of War™ 1 title ~$259.5M
  65. 65 Funcom top: Conan Exiles Enhanced 3 titles ~$251.8M
  66. 66 IO Interactive A/S top: HITMAN World of Assassination 2 titles ~$249.0M
  67. 67 Capcom top: Resident Evil 4 (2005) 5 titles ~$247.0M
  68. 68 QLOC top: DARK SOULS™: REMASTERED 2 titles ~$245.0M
  69. 69 Frontier Developments top: Planet Coaster 3 titles ~$239.2M
  70. 70 Naughty Dog LLC top: The Last of Us™ Part I 2 titles ~$232.1M
  71. 71 NEOWIZ top: Lies of P 2 titles ~$232.0M
  72. 72 GSC Game World top: S.T.A.L.K.E.R. 2: Heart of Chornobyl 2 titles ~$230.4M
  73. 73 Gunfire Games top: Remnant: From the Ashes 4 titles ~$230.0M
  74. 74 Rocksteady Studios top: Batman™: Arkham Knight 3 titles ~$228.4M
  75. 75 OVERKILL - a Starbreeze Studio. top: PAYDAY 2 2 titles ~$225.8M
  76. 76 Expression Games top: Hell Let Loose 1 title ~$223.8M
  77. 77 Remedy Entertainment top: CONTROL Ultimate Edition 3 titles ~$205.3M
  78. 78 Respawn top: STAR WARS Jedi: Survivor™ 1 title ~$201.0M
  79. 79 Avalanche Studios top: Just Cause™ 3 4 titles ~$199.2M
  80. 80 Studio MDHR Entertainment Inc. top: Cuphead 2 titles ~$196.3M
  81. 81 Motive top: Dead Space 2 titles ~$193.5M
  82. 82 Motion Twin top: Dead Cells 6 titles ~$185.5M
  83. 83 Monomi Park top: Slime Rancher 2 titles ~$180.3M
  84. 84 MachineGames top: Wolfenstein II: The New Colossus 3 titles ~$179.8M
  85. 85 Irrational Games top: BioShock Infinite 1 title ~$177.2M
  86. 86 Asobo Studio top: A Plague Tale: Innocence 2 titles ~$174.3M
  87. 87 Arc System Works top: DRAGON BALL FighterZ 1 title ~$168.0M
  88. 88 Arkane Studios top: Dishonored 2 4 titles ~$166.5M
  89. 89 Bend Studio top: Days Gone 1 title ~$166.1M
  90. 90 Stunlock Studios top: V Rising 1 title ~$163.4M
  91. 91 Ninja Theory top: Hellblade: Senua's Sacrifice 2 titles ~$160.3M
  92. 92 Sucker Punch Productions top: Ghost of Tsushima DIRECTOR'S CUT 1 title ~$158.1M
  93. 93 TVGS top: Schedule I 1 title ~$157.7M
  94. 94 AdHoc Studio top: Dispatch 1 title ~$157.3M
  95. 95 Infinity Ward top: Call of Duty®: Infinite Warfare 3 titles ~$151.9M
  96. 96 Grinding Gear Games top: Path of Exile 2 1 title ~$151.0M
  97. 97 Steel Wool Studios top: Five Nights at Freddy's: Security Breach 2 titles ~$150.2M
  98. 98 Croteam top: The Talos Principle 5 titles ~$145.1M
  99. 99 PlatinumGames top: METAL GEAR RISING: REVENGEANCE 2 titles ~$144.3M
  100. 100 Ryu Ga Gotoku Studio top: Like a Dragon: Infinite Wealth 6 titles ~$143.1M

Estimates only. How is this calculated?

Frequently asked questions

Which indie studios earn the most from Action games?
By indielist's white-box estimate, Valve leads the Action ranking at ~$6897.0M. Figures are Boxleiter-derived estimates from public Steam data, summed per studio. See /methodology.