It has been proven that innovation is essential for the survival of companies as well as for the growth of a country, for this reason an efficient investment in innovation will allow to obtain optimal results and in turn achieve improvements in the organization of the company, efficiency in management and, above all, obtain competitive advantages that generate consolidation in the market. This study examines how determinants of innovation, specifically: Product innovation, process innovation and patents, influence the result of innovation in Spanish manufacturing companies; considering the effect of innovation outputs from innovation inputs (internal R&D expenses, external R&D expenses, public funding, specialized R&D personnel and cooperation with external agents) during the 2003 period -2016. This empirical analysis uses a sample of 12,849 companies that carry out innovative activity in Spanish territory, through the PITEC database. The main results obtained reflect that all the indicators analyzed favor the innovative process of companies, admitting as a conclusion, a causal relationship between the efforts applied in innovation and the response capacity of companies.