Profits is among the most important measurements in finance for investors, entrepreneurs, and corporate leaders. The effect of intangible assets on profitability in firms is therefore relevant in the highest regard for these stakeholders. Europe is becoming a service economy with a larger focus on intangible assets. Understanding the importance of intangible assets in firms today and correctly utilizing the intangible assets will allow for firms to stay competitive in the new service economy. The purpose of the study is to find correlations between European publicly listed firms' intangible assets and their profitability. The study was based on the theory of Resource-Based-View. The findings show that intangible assets do have a significant positive correlation with profitability (EBIT). Organizations can use these findings to develop methods to utilize intangible assets to increase profitability.