With a market capitalization of 3.12 trillion U.S. dollars as of May 2024, Microsoft was the world’s largest company that year. Rounding out the top five were some of the world’s most recognizable brands: Apple, NVIDIA, Google’s parent company Alphabet, and Amazon. Saudi Aramco led the ranking of the world's most profitable companies in 2023, with a pre-tax income of nearly 250 billion U.S. dollars. How are market value and market capitalization determined? Market value and market capitalization are two terms frequently used – and confused - when discussing the profitability and viability of companies. Strictly speaking, market capitalization (or market cap) is the worth of a company based on the total value of all their shares; an important metric when determining the comparative value of companies for trading opportunities. Accordingly, many stock exchanges such as the New York or London Stock Exchange release market capitalization data on their listed companies. On the other hand, market value technically refers to what a company is worth in a much broader context. It is determined by multiple factors, including profitability, corporate debt, and the market environment as a whole. In this sense it aims to estimate the overall value of a company, with share price only being one element. Market value is therefore useful for determining whether a company’s shares are over- or undervalued, and in arriving at a price if the company is to be sold. Such valuations are generally made on a case-by-case basis though, and not regularly reported. For this reason, market capitalization is often reported as market value. What are the top companies in the world? The answer to this question depends on the metric used. Although the largest company by market capitalization, Microsoft's global revenue did not manage to crack the top 20 companies. Rather, American multinational retailer Walmart was ranked as the largest company in the world by revenue. Walmart also had the highest number of employees in the world.

In 1989, the Industrial Bank of Japan had a market capitalization of approximately 104.29 billion U.S dollars, making it the largest company in the world at the time. Six of the ten largest companies worldwide in 1989 were based in Japan while the remaining four were American, highlighting the economic dominance of these two countries in the late 1980s.

The New York Stock Exchange (NYSE) is the largest stock exchange in the world, with an equity market capitalization of almost ** trillion U.S. dollars as of June 2025. The following three exchanges were the NASDAQ, PINK Exchange, and the Frankfurt Exchange. What is a stock exchange? A stock exchange is a marketplace where stockbrokers, traders, buyers, and sellers can trade in equities products. The largest exchanges have thousands of listed companies. These companies sell shares of their business, giving the general public the opportunity to invest in them. The oldest stock exchange worldwide is the Frankfurt Stock Exchange, founded in the late sixteenth century. Other functions of a stock exchange Since these are publicly traded companies, every firm listed on a stock exchange has had an initial public offering (IPO). The largest IPOs can raise billions of dollars in equity for the firm involved. Related to stock exchanges are derivatives exchanges, where stock options, futures contracts, and other derivatives can be traded.

The average for 2022 based on 74 countries was 1244.55 billion U.S. dollars. The highest value was in the USA: 40297.98 billion U.S. dollars and the lowest value was in Bermuda: 0.21 billion U.S. dollars. The indicator is available from 1975 to 2022. Below is a chart for all countries where data are available.

Microsoft market cap as of June 18, 2025 is $2.734T. Microsoft market cap history and chart from 2010 to 2025. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding.

In 2009, Ecxxon Mobil Corp had a market capitalization of approximately ****** billion U.S dollars, making it the largest company in the world at the time. Five of the ten largest companies worldwide in 2009 were based in the United States, with three from Europe and two from China.

NIKE market cap as of June 18, 2025 is $82.48B. NIKE market cap history and chart from 2010 to 2025. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding.

Key information about United States Market Capitalization

• United States Market Capitalization accounted for 40,297.980 USD bn in Dec 2022, compared with a percentage of 48,548.538 USD bn in the previous year
• US Market Capitalization is updated yearly, available from Dec 1975 to Dec 2022
• The data reached an all-time high of 48,548.538 USD bn in Dec 2021 and a record low of 703.800 USD bn in Dec 1975

The World Bank provides annual Market Capitalization in USD. Market Capitalization includes domestic companies listed at the end of the year and excludes investment companies, mutual funds and other collective investment vehicles.

Key information about United States Market Capitalization: % of GDP

• United States Market Capitalization accounted for 155.0 % of its Nominal GDP in Dec 2022, compared with a percentage of 205.0 % in the previous year
• US Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1975 to Dec 2022
• The data reached an all-time high of 205.0 % in Dec 2021 and a record low of 36.7 % in Dec 1978

The World Bank provides annual Market Capitalization as % of Nominal GDP. Market Capitalization includes domestic companies listed at the end of the year and excludes investment companies, mutual funds and other collective investment vehicles

Key information about China Market Capitalization

• China Market Capitalization accounted for 11,870.548 USD bn in Feb 2025, compared with a percentage of 11,513.605 USD bn in the previous month
• China Market Capitalization is updated monthly, available from Jul 1995 to Feb 2025
• The data reached an all-time high of 14,375.423 USD bn in Dec 2021 and a record low of 40.601 USD bn in Jan 1996

CEIC calculates monthly Market Capitalization as the sum of Market Capitalization of Shanghai Stock Exchange and Market Capitalization of Shenzhen Stock Exchange and converts it into USD. Shanghai Stock Exchange and Shenzhen Stock Exchange provides Market Capitalization in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.

Key information about India Market Capitalization: % of GDP

• India Market Capitalization accounted for 133.5 % of its Nominal GDP in Dec 2024, compared with a percentage of 120.9 % in the previous year
• India Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1993 to Dec 2024
• The data reached an all-time high of 146.4 % in Dec 2007 and a record low of 23.0 % in Dec 2001

CEIC calculates annual Market Capitalization as % of Nominal GDP from monthly Market Capitalization and annual Nominal GDP. BSE Limited provides Market Capitalization in local currency. The Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency. Nominal GDP is reported in annual frequency, ending in March of each year.


Further information about India Market Capitalization: % of GDP

• In the latest reports, SENSEX recorded a daily P/E ratio of 20.6 in Mar 2025
• Sensitive 30 (Sensex) closed at 73,198.1 points in Feb 2025

As of May 23, 2025, Microsoft was the leading tech company by market capitalization globally at 3.38 trillion U.S. dollars. Nvidia ranked second at 3.24 trillion U.S. dollars. Tech company stocks were impacted through 2025 as a result of various global tariff threats by the United States government. Apple among the leaders Since its foundation in a Californian garage in 1976, Apple has expanded massively, becoming one of the most valuable companies in the world. The company started its origins in the PC industry with the Macintosh, but soon entered other segments of the consumer electronics market. Today, the iPhone is the most popular Apple product, although Mac, iPad, wearables, and services also contribute to its high revenues. Aiming at innovation, Apple invests every year in research and development, spanning a wide array of technologies from AI through to extended reality. Nvidia's immense growth With a focus that began with origins in gaming, Nvidia's business strategy has been transformed by demand from data centers that sit at the heart of the AI boom. The company's chips have been favored to support in the training and running of a range of large language models, most notably in the development of OpenAI's ChatGPT.

Key information about Saudi Arabia Market Capitalization

• Saudi Arabia Market Capitalization accounted for 2,667.273 USD bn in Feb 2025, compared with a percentage of 2,740.562 USD bn in the previous month
• Saudi Arabia Market Capitalization is updated monthly, available from Dec 2005 to Feb 2025
• The data reached an all-time high of 3,325.689 USD bn in Apr 2022 and a record low of 218.463 USD bn in Feb 2009

CEIC converts monthly Market Capitalization into USD. Saudi Exchange provides Market Capitalization in local currency. Saudi Central Bank period end market exchange rate is used for currency conversions. Since January 2017, the IFRS accounting standard for all listed companies and the Global Industry Classification Standard has been adopted.

AT&T market cap as of July 10, 2025 is $194.89B. AT&T market cap history and chart from 2010 to 2025. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding.

Ennis market cap as of June 10, 2025 is $0.49B. Ennis market cap history and chart from 2010 to 2025. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding.

As of December 31, 2024, the largest bank in the world in terms of market capitalization was the U.S.-based JPMorgan Chase. The American banking giant's market cap exceeded 678 billion U.S. dollars, which was significantly higher than Bank of America's, which ranked second with a market cap of approximately 340.21 billion U.S. dollars. JPMorgan Chase was also the largest bank in the United States in terms of total assets but ranked only fifth globally, behind four Chinese banks. What is market capitalization? Market capitalization, also known as stock market value, is the total value of issued shares of a publicly traded company. It is equal to the share price multiplied by the number of shares outstanding. It applies only to publicly traded companies or companies that have made their stock market debut, also known as an initial public offering, or IPO. Due to the nature of the capitalist system and the practice of buying and selling stocks in public markets, market capitalization can be used as a proxy for the wider public’s opinion of a company’s net worth, making it therefore a determining factor in calculating other theoretical values of companies and their stocks, for example, stock valuation. How were banks affected by the coronavirus outbreak? The outbreak of the coronavirus left no industries unaffected and had a significant impact on the global financial markets. This can be seen in the banking industry, as the market capitalization of the largest banks worldwide dropped markedly between December 2019 and March 2020. For the largest bank, JPMorgan Chase, it was not until February 2021 that the market capitalization saw pre-pandemic figures again.

Key information about France Market Capitalization

• France Market Capitalization accounted for 3,421.737 USD bn in Feb 2025, compared with a percentage of 3,375.757 USD bn in the previous month
• France Market Capitalization is updated monthly, available from Dec 2004 to Feb 2025
• The data reached an all-time high of 4,380.599 USD bn in Apr 2023 and a record low of 1,141.354 USD bn in Feb 2009

CEIC converts monthly Market Capitalization into USD. Euronext provides Market Capitalization in EUR. The Federal Reserve Board period end market exchange rate is used for currency conversions. Market Capitalization prior to December 2022 is based on old methodology.

Dow market cap as of June 14, 2025 is $19.87B. Dow market cap history and chart from 2017 to 2025. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding.

Hertz Global Holdings market cap as of June 13, 2025 is $2.54B. Hertz Global Holdings market cap history and chart from 2016 to 2025. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding.

As of March 2025, **************************, a multinational beverage and retail company headquartered in Monterey, was the largest public company in Latin America, with a market capitalization of nearly *** billion U.S. dollars. ************ follows with a market cap of about ** billion U.S. dollars, while ********, a Brazilian energy company, takes the third spot with a market cap of ** billion U.S. dollars.