Study Finds Companies That Maintain DEI Commitments Perform as Well or Better Financially
A recent study conducted by University of California, Berkeley public policy scholar Jacob Grumbach found that S&P 500 companies maintaining their diversity, equity and inclusion (DEI) commitments performed at least as well financially—by revenue growth and stock returns—as those that rolled back DEI initiatives. The research contradicts the prevailing corporate belief that DEI programs pose a financial risk under current political pressures. The study analyzed firms like Apple, Microsoft, JPMorgan Chase, and Costco—which kept their DEI efforts—and compared them to companies such as IBM, Walmart, and Target, which scaled back on inclusion initiatives. Despite heightened legal risks due to anti-DEI executive orders from President Donald Trump in 2026, the data showed no financial penalty for maintaining DEI programs. Additional research by Catalyst and NYU Law’s Meltzer Center found that most U.S. companies remain committed to evolving their DEI strategies despite political headwinds.
Tickers: $AAPL $C $COST $CSCO $DAL $DG $DLTR $IBM $JPM $MSFT $PFE $TGT $WMT
Topics: corporate performance DEI S&P 500