The 100 Biggest Companies in the World by Market Value, 30 September 2026

How this top 100 was built, and how it differs from our top 20

Market value, or market capitalization, is the price the stock market puts on a whole company: the number of shares in issue multiplied by the share price. It changes every trading day, so this page fixes one moment, the close of trading on Wednesday 30 September 2026, the last day of the third quarter, and ranks the 100 most valuable listed companies in the world at that close. Private companies are excluded.

The 20 largest companies, their share counts and the choices behind each value are examined one by one in our companion report on the top companies in the world by market capitalization. For the top 20 in detail, the AI chip effect and the gap between the five leaders, see that report. This page uses exactly the same values for those 20 companies, so the two rankings agree, and then widens the view to all 100: how value is spread across ranks, countries and sectors, how big a company must be to get in, and which names joined or left the list during 2026.

No single official source publishes a global ranking of all listed companies on one day, so the list combines five dated data sets. The first 23 companies and Tencent use shares outstanding from company filings multiplied by the closing price on the main exchange, as in the top 20 report. Other companies with a share or receipt listed in New York are valued with the September 2026 month end figures of the market data provider Stock Titan. Mainland Chinese companies use the 30 September ranking of A share companies compiled from Eastmoney Choice data, and Japanese companies without a US listing use the official ranking of the Japan Exchange Group for the same day. The remaining companies, mainly in Europe, Taiwan and the Gulf, were calculated from their closing price on 30 September and their latest share count. The basis used for each company is shown in the table.

Values in other currencies were converted at rates for 30 September 2026: 6.7351 yuan per dollar (the central parity set by the Chinese central bank), 156.91 yen (Bank of Japan, 17:00 Tokyo rate), 1.1359 dollars per euro (Bank of England spot rate), 0.8356 Swiss francs, 31.85 Taiwan dollars and 7.8467 Hong Kong dollars (Federal Reserve H.10). Changes since March compare each company with its value in the PwC Global Top 100 census of 31 March 2026, the most complete published annual ranking of the largest listed companies in the world.

The 100 biggest companies in the world by market value

The table lists all 100 companies with their country of headquarters, sector group and value in billions of US dollars at the close of 30 September 2026. The two columns on the right compare each company with its value in the PwC census of 31 March 2026; companies that were outside the PwC top 100 in March are marked as new. Click any column heading to sort, or use the search box and the two filters to find a company, a country or a sector.

The 100 largest listed companies in the world by market value, close of 30 September 2026 (US$ billion)

Rank▲	Company	Country	Sector	Market value, 30 Sep 2026	31 Mar 2026 (PwC)	Change	Basis
1	NVIDIA	United States	Semiconductors	5,504.0	4,237	+29.9%	A
2	Apple	United States	Hardware and devices	4,860.0	3,726	+30.4%	A
3	Alphabet	United States	Software and internet	4,190.0	3,475	+20.6%	A
4	Microsoft	United States	Software and internet	3,809.0	2,749	+38.6%	A
5	Amazon	United States	Software and internet	2,687.0	2,236	+20.2%	A
6	SpaceX	United States	Industrials and aerospace	2,047.0	not in list	new	A
7	TSMC	Taiwan	Semiconductors	2,019.0	1,427	+41.5%	A
8	Meta Platforms	United States	Software and internet	1,847.0	1,447	+27.6%	A
9	Broadcom	United States	Semiconductors	1,676.0	1,465	+14.4%	A
10	Saudi Aramco	Saudi Arabia	Energy	1,628.0	1,766	-7.8%	A
11	Tesla	United States	Consumer discretionary and autos	1,401.0	1,395	+0.4%	A
12	Micron Technology	United States	Semiconductors	1,205.0	381	+216.3%	A
13	Samsung Electronics	South Korea	Semiconductors	1,162.0	697	+66.7%	A
14	Eli Lilly	United States	Health care	1,089.0	823	+32.3%	A
15	Berkshire Hathaway	United States	Financials	1,066.0	1,033	+3.2%	A
16	AMD	United States	Semiconductors	999.0	332	+200.9%	A
17	SK Hynix	South Korea	Semiconductors	961.0	372	+158.3%	A
18	JPMorgan Chase	United States	Financials	879.0	793	+10.8%	A
19	Walmart	United States	Consumer staples and retail	824.0	991	-16.9%	A
20	ASML	Netherlands	Semiconductors	697.0	497	+40.2%	A
21	Visa	United States	Financials	682.0	576	+18.4%	A
22	Exxon Mobil	United States	Energy	669.0	707	-5.4%	A
23	Johnson and Johnson	United States	Health care	638.0	589	+8.3%	A
24	Intel	United States	Semiconductors	635.4	222	+186.2%	B
25	CXMT (ChangXin Memory)	China	Semiconductors	552.2	not in list	new	C
26	Tencent	China	Software and internet	500.0	556	-10.1%	A
27	Mastercard	United States	Financials	483.1	446	+8.3%	B
28	AbbVie	United States	Health care	462.3	385	+20.1%	B
29	Palantir	United States	Software and internet	449.5	350	+28.4%	B
30	Cisco	United States	Hardware and devices	424.3	306	+38.7%	B
31	ICBC	China	Financials	416.7	375	+11.1%	C
32	Oracle	United States	Software and internet	416.2	423	-1.6%	B
33	Lam Research	United States	Semiconductors	411.1	267	+54.0%	B
34	Applied Materials	United States	Semiconductors	405.8	271	+49.7%	B
35	Costco	United States	Consumer staples and retail	403.5	442	-8.7%	B
36	Chevron	United States	Energy	403.5	413	-2.3%	B
37	Bank of America	United States	Financials	380.6	348	+9.4%	B
38	Caterpillar	United States	Industrials and aerospace	372.7	330	+12.9%	B
39	Coca-Cola	United States	Consumer staples and retail	370.4	327	+13.3%	B
40	Roche	Switzerland	Health care	360.4	314	+14.8%	E
41	Merck and Co.	United States	Health care	358.5	297	+20.7%	B
42	Agricultural Bank of China	China	Financials	356.3	332	+7.3%	C
43	Dell Technologies	United States	Hardware and devices	342.0	not in list	new	B
44	HSBC	United Kingdom	Financials	340.5	277	+22.9%	B
45	Procter & Gamble	United States	Consumer staples and retail	337.4	336	+0.4%	B
46	China Construction Bank	China	Financials	335.6	287	+16.9%	C
47	UnitedHealth	United States	Health care	329.5	246	+33.9%	B
48	Palo Alto Networks	United States	Software and internet	325.0	not in list	new	B
49	GE Aerospace	United States	Industrials and aerospace	324.0	296	+9.5%	B
50	Arm Holdings	United Kingdom	Semiconductors	309.4	not in list	new	B
51	PetroChina	China	Energy	304.6	315	-3.3%	E
52	Bank of China	China	Financials	302.9	256	+18.3%	C
53	Philip Morris	United States	Consumer staples and retail	297.4	258	+15.3%	B
54	Morgan Stanley	United States	Financials	295.4	261	+13.2%	B
55	Netflix	United States	Telecom and media	289.7	406	-28.6%	B
56	Home Depot	United States	Consumer discretionary and autos	283.8	328	-13.5%	B
57	Royal Bank of Canada	Canada	Financials	272.2	225	+21.0%	B
58	CrowdStrike	United States	Software and internet	271.1	not in list	new	B
59	Novartis	Switzerland	Health care	271.0	288	-5.9%	B
60	Alibaba	China	Software and internet	267.5	280	-4.5%	B
61	Shell	United Kingdom	Energy	266.4	267	-0.2%	B
62	Goldman Sachs	United States	Financials	262.2	259	+1.2%	B
63	Mitsubishi UFJ	Japan	Financials	259.7	185	+40.4%	B
64	Arista Networks	United States	Hardware and devices	256.8	not in list	new	B
65	Texas Instruments	United States	Semiconductors	255.8	177	+44.5%	B
66	Sandisk	United States	Semiconductors	254.8	not in list	new	B
67	KLA	United States	Semiconductors	254.4	193	+31.8%	B
68	GE Vernova	United States	Industrials and aerospace	253.2	235	+7.7%	B
69	AstraZeneca	United Kingdom	Health care	250.4	301	-16.8%	B
70	RTX	United States	Industrials and aerospace	250.2	260	-3.8%	B
71	Thermo Fisher	United States	Health care	249.6	183	+36.4%	B
72	MediaTek	Taiwan	Semiconductors	246.7	not in list	new	E
73	Wells Fargo	United States	Financials	242.1	246	-1.6%	B
74	SAP	Germany	Software and internet	240.6	198	+21.5%	B
75	Siemens	Germany	Industrials and aerospace	240.5	183	+31.4%	E
76	SoftBank Group	Japan	Financials	234.1	not in list	new	D
77	Nestle	Switzerland	Consumer staples and retail	233.8	251	-6.9%	E
78	Kweichow Moutai	China	Consumer staples and retail	233.6	263	-11.2%	E
79	Marvell Technology	United States	Semiconductors	231.7	not in list	new	B
80	L Oreal	France	Consumer staples and retail	229.5	215	+6.7%	E
81	Amgen	United States	Health care	227.9	190	+19.9%	B
82	International Holding Company	UAE	Industrials and aerospace	225.2	232	-2.9%	E
83	China Mobile	China	Telecom and media	219.0	222	-1.4%	E
84	Linde	United Kingdom	Materials	218.8	230	-4.9%	B
85	LVMH	France	Consumer discretionary and autos	218.4	265	-17.6%	E
86	Citigroup	United States	Financials	217.2	198	+9.7%	B
87	Toyota	Japan	Consumer discretionary and autos	216.8	259	-16.3%	B
88	BHP	Australia	Materials	215.6	176	+22.5%	B
89	Seagate	Ireland	Hardware and devices	209.7	not in list	new	B
90	Amphenol	United States	Hardware and devices	207.9	not in list	new	B
91	IBM	United States	Software and internet	207.2	227	-8.7%	B
92	American Express	United States	Financials	205.4	207	-0.8%	B
93	CATL	China	Industrials and aerospace	204.0	267	-23.6%	C
94	Banco Santander	Spain	Financials	198.1	not in list	new	B
95	Qualcomm	United States	Semiconductors	193.2	not in list	new	B
96	Toronto-Dominion Bank	Canada	Financials	192.6	not in list	new	B
97	Analog Devices	United States	Semiconductors	192.2	not in list	new	B
98	Inditex	Spain	Consumer discretionary and autos	190.9	177	+7.9%	E
99	Shopify	Canada	Software and internet	190.8	not in list	new	B
100	Verizon	United States	Telecom and media	190.6	212	-10.1%	B

Download this table (CSV) · Free to reuse under CC BY 4.0 with credit to Business Stats

Basis key: A = shares outstanding from latest filing x primary exchange close (BusinessStats, as in our top 20 report). B = Stock Titan month end value of the US listing, September 2026. C = Eastmoney Choice ranking of A share companies, 30 September 2026 (A share price x all shares). D = Japan Exchange Group ranking, 30 September 2026. E = closing price on 30 September 2026 x latest share count (BusinessStats; IHC uses the 22 September close). "New" = not in the PwC top 100 at 31 March 2026.

Three features of the table stand out. First, the size range is enormous: NVIDIA, at 5.50 trillion dollars, was worth 28.9 times as much as Verizon in 100th place. Second, the list is crowded at the bottom. The last ten places span less than 17 billion dollars, and the five companies just outside the top 100 were all within 6 billion dollars of the cut-off, so a single day of trading can reshuffle that end of the ranking. Third, the variety is wider than in any top 20. Besides technology, it holds 20 financial groups, 10 health care companies, five oil and gas producers, a spirits maker, a fashion retailer and a mining group.

From 5.5 trillion to 190 billion dollars: the shape of the top 100

The average company in the top 100 was worth 652.9 billion dollars, but that figure is pulled up by the giants at the top. The median, the value of the company in the middle of the list, was 307.0 billion dollars, between Arm Holdings in 50th place and PetroChina in 51st. In other words, half of the 100 most valuable companies in the world are worth less than about 6 percent of NVIDIA.

Most of the list sits far below the giants: 67 of the 100 companies are worth between 190 and 500 billion dollars, while the 15 trillion dollar companies hold more than half of the value.

Fifteen companies were worth 1 trillion dollars or more and another 11 between 500 billion and 1 trillion dollars. That second group is a revealing mix: AMD, SK Hynix, JPMorgan Chase, Walmart, ASML, Visa, Exxon Mobil, Johnson and Johnson, Intel, the Chinese memory maker CXMT and Tencent. The largest single bracket, 26 companies, lies between 300 and 500 billion dollars and includes Mastercard, Oracle, Costco, Chevron, Coca-Cola, Roche, HSBC, the four big Chinese state banks and PetroChina.

The pattern is close to what statisticians call a power law: a few very large companies and a long tail of similar sized ones. Moving down the ranking, value falls steeply through the first 25 places and then flattens. The 50 companies ranked 51 to 100 were worth 11.94 trillion dollars together, little more than double the value of NVIDIA alone.

The entry ticket: 190.6 billion dollars to join the top 100

One of the clearest ways to see how much the largest companies have grown is the value of the company in 100th place. PwC, which publishes an annual census of the 100 largest listed companies at 31 March, puts that threshold at 71 billion dollars in 2016, 99 billion dollars in 2019 and 164 billion dollars in 2026. At the end of September 2026 the 100th company in our ranking, Verizon, was worth 190.6 billion dollars.

The entry ticket has almost tripled: a company needed 71 billion dollars to join the top 100 in March 2016 and 190.6 billion dollars at the end of September 2026.

The threshold fell only twice in the PwC series: in 2020, when the census was taken in the middle of the market fall caused by the pandemic, and in 2023, after the bear market of 2022. Each time it recovered within a year. Between March and September 2026 alone, the cut-off rose by about 27 billion dollars, or 16 percent, as rising chip valuations lifted a group of mid sized technology companies into the ranking and pushed others out.

The top of the list grew much faster than the bottom. According to PwC, the largest company was worth 604 billion dollars in March 2016, or 8.5 times the 100th company. At the end of September 2026 the ratio was 28.9 to 1. The distance between the leader and the rest of the list has widened even as the entry ticket has almost tripled.

How concentrated is the top 100?

Splitting the list into rank bands shows where the value sits. The ten largest companies were worth 30.27 trillion dollars, 46.4 percent of the top 100 total. The next 15 companies added 13.46 trillion dollars, or 20.6 percent. The 75 companies ranked 26 to 100 shared the remaining 33.0 percent between them.

Ten companies, almost half the value: the top 10 were worth 30.27 trillion dollars, 46.4 percent of the top 100, while ranks 76 to 100 together held 8.1 percent.

Concentration at the top has barely changed during 2026, despite the large price moves. In the PwC census of 31 March 2026, the top ten were worth 23.92 trillion dollars out of 51.85 trillion dollars, a share of 46.1 percent. The top ten got richer between March and September, but so did the rest of the list, led by the chip makers ranked between 11 and 50. The five largest companies alone held 32.2 percent of the top 100 value, and NVIDIA 8.4 percent.

Against the whole stock market the weight is even more striking. The World Federation of Exchanges, the trade body of regulated exchanges, put the value of all companies listed on its member exchanges at 151.94 trillion dollars at the end of 2025. The 100 companies in this ranking were worth an amount equal to 43.0 percent of that total nine months later. The two dates differ, so the share is indicative, but it shows why index funds, which weight companies by market value, depend so heavily on a few stocks. The funds themselves are compared in our list of the largest ETFs by assets, and total listed value by region is tracked in our data on equity market capitalization by region.

Market value of the top 100 by country

Sixteen countries have at least one company in the top 100, but the distribution is extremely uneven. The United States has 60 companies worth 49.30 trillion dollars, 75.5 percent of the total. China, including Hong Kong based China Mobile, is second with 11 companies and 3.69 trillion dollars, and Taiwan third with 2.27 trillion dollars from only two companies, TSMC and MediaTek.

One country, three quarters of the value: the 60 American companies were worth 49.30 trillion dollars, more than thirteen times the 11 Chinese companies in second place.

Top 100 companies by country of headquarters, 30 September 2026

Country	Companies	Combined value	Share of top 100	Largest company
United States	60	$49.30T	75.5%	NVIDIA ($5,504B)
China	11	$3.69T	5.7%	CXMT ($552B)
Taiwan	2	$2.27T	3.5%	TSMC ($2,019B)
South Korea	2	$2.12T	3.3%	Samsung Electronics ($1,162B)
Saudi Arabia	1	$1.63T	2.5%	Saudi Aramco ($1,628B)
United Kingdom	5	$1.39T	2.1%	HSBC ($340B)
Switzerland	3	$0.87T	1.3%	Roche ($360B)
Japan	3	$0.71T	1.1%	Mitsubishi UFJ ($260B)
Netherlands	1	$0.70T	1.1%	ASML ($697B)
Canada	3	$0.66T	1.0%	Royal Bank of Canada ($272B)
Germany	2	$0.48T	0.7%	SAP ($241B)
France	2	$0.45T	0.7%	L Oreal ($229B)
Spain	2	$0.39T	0.6%	Banco Santander ($198B)
UAE	1	$0.23T	0.3%	International Holding Company ($225B)
Australia	1	$0.22T	0.3%	BHP ($216B)
Ireland	1	$0.21T	0.3%	Seagate ($210B)

Download this table (CSV) · Free to reuse under CC BY 4.0 with credit to Business Stats

The American lead is not only a matter of a few technology giants. Even without its ten largest companies, the United States would still have 50 companies in the list. They range from banks such as JPMorgan Chase, Bank of America, Morgan Stanley, Goldman Sachs, Wells Fargo and Citigroup to consumer groups such as Costco, Coca-Cola, Procter and Gamble and Home Depot, and to industrial companies such as Caterpillar, GE Aerospace, GE Vernova and RTX. Thirteen of the 20 semiconductor companies in the list are American. Most of these companies trade on the Nasdaq or the New York Stock Exchange; the Nasdaq is profiled in our report on the Nasdaq stock market.

China is the only other country with more than five members, and its group looks very different. Four of its 11 companies are state controlled banks: ICBC, Agricultural Bank of China, China Construction Bank and Bank of China, worth 1.41 trillion dollars together. PetroChina and China Mobile are also state controlled, and Kweichow Moutai is controlled by a state owned group from Guizhou province. The private sector is represented by Tencent, Alibaba, the battery maker CATL and the memory chip maker CXMT, the largest Chinese company in the list at about 552 billion dollars. Alibaba is examined in detail in our Alibaba statistics and facts.

Three absences are notable. India, one of the largest economies in the world, has no company in the top 100 after Reliance Industries, its only member in the PwC census of March 2026, fell below the cut-off. Brazil and Mexico have none either. How these countries compare by the size of their economies is shown in our ranking of countries with the largest GDP; the gap between economic size and stock market value is one of the clearest themes of this list.

Europe, China and the rest: the regional picture

Grouped by region, the United States accounts for 60 companies, Europe for 16, China for 11, the rest of Asia and the Pacific for 8, Canada for 3 and the Middle East for 2. Europe has more members than China but a lower total value, 4.48 trillion dollars against 3.69 trillion dollars for China, and no European company comes close to the top ten. ASML, the Dutch maker of chip lithography machines, is the largest European company at 697 billion dollars, in 20th place.

Europe has more members than China, but less weight per company: 16 European companies averaged 280 billion dollars each, against 336 billion dollars for the 11 Chinese companies.

The European group is spread across seven countries. The United Kingdom has five members: HSBC, Arm Holdings, Shell, AstraZeneca and Linde. Switzerland has three: Roche, Novartis and Nestle. Germany has SAP and Siemens, France has L Oreal and LVMH, and Spain has Banco Santander and Inditex, the owner of Zara. In March 2026 PwC also counted TotalEnergies, Hermes and Deutsche Telekom, all of which fell out during the summer; Arm Holdings, Banco Santander and Seagate took their places. European banks are covered in more depth in our report on the banking sector in Europe.

Elsewhere in Asia, Taiwan, South Korea and Japan contribute eight companies with Australia, and the regional mix is again dominated by chips: TSMC, MediaTek, Samsung Electronics and SK Hynix together are worth 4.39 trillion dollars. Japan has three members, Mitsubishi UFJ, SoftBank Group and Toyota, worth 711 billion dollars combined, less than SK Hynix alone. In the Middle East, Saudi Aramco is joined by International Holding Company of Abu Dhabi.

Market value of the top 100 by sector

Grouping the companies by their main business shows how far value has moved toward the makers of computing hardware. The 20 semiconductor companies in the list, from chip designers such as NVIDIA, Broadcom, AMD and Qualcomm to manufacturers such as TSMC, Samsung Electronics, Micron and SK Hynix and equipment suppliers such as ASML, Lam Research, Applied Materials and KLA, were worth 18.17 trillion dollars together. That is 27.8 percent of the top 100, more than any other group.

Chips are now the biggest group: 20 semiconductor companies were worth 18.17 trillion dollars, 27.8 percent of the top 100, ahead of software and internet groups at 15.40 trillion.

The 13 software and internet companies, led by Alphabet, Microsoft, Amazon and Meta, were worth 15.40 trillion dollars, and the six hardware makers, led by Apple, 6.30 trillion dollars. Counting all three technology groups together, 39 of the 100 companies and 61.0 percent of the value come from technology. PwC put the technology share of its March 2026 top 100 at 36 percent, using a narrower definition that places Alphabet, Meta and Amazon in other sectors. Revenue comparisons among the largest technology groups are in our big tech revenue comparison, and the market value of internet platforms over time in our data on the largest internet companies by market value.

Financials are the second largest group by number, with 20 companies, but their combined value of 7.62 trillion dollars is less than the value of NVIDIA and Apple together. The group includes the four big Chinese state banks, ten American companies from Berkshire Hathaway and JPMorgan Chase to Visa, Mastercard and American Express, HSBC, Royal Bank of Canada, Toronto-Dominion Bank, Mitsubishi UFJ, Banco Santander and SoftBank Group, which is classified here as an investment holding company. Health care is led by Eli Lilly, the only drug maker worth more than 1 trillion dollars, followed by Johnson and Johnson, AbbVie, Roche and Merck. The wider industry is covered in our report on the global pharmaceutical industry.

At the other end, energy has only five members, Saudi Aramco, Exxon Mobil, Chevron, PetroChina and Shell, after TotalEnergies dropped to 101st place. Telecom and media have three, Netflix, China Mobile and Verizon, after AT and T, T-Mobile US and Walt Disney fell below the cut-off. Materials are represented by Linde, the industrial gases group, and BHP, the mining company.

Ten years of growth: from 15 trillion to 65 trillion dollars

The PwC census provides a consistent history of the combined value of the 100 largest listed companies. At 31 March 2016 they were worth 15.42 trillion dollars. The total passed 30 trillion dollars in 2021, fell back to 31.43 trillion dollars in March 2023 after the 2022 market decline, and reached a record 51.85 trillion dollars in March 2026. Our ranking for 30 September 2026 puts the total at 65.29 trillion dollars.

More than four times larger in a decade: the top 100 rose from 15.4 trillion dollars in March 2016 to 65.3 trillion dollars at the end of September 2026.

That is an increase of about 4.2 times in ten and a half years, or about 15 percent a year. PwC calculated a 10 year compound annual growth rate of 13 percent to March 2026. The last step, from March to September 2026, is a rise of 13.44 trillion dollars or 25.9 percent in six months, but it should be read with care: the PwC values and ours use different data sources and share bases, and part of the increase reflects the arrival of companies that were not in the March list, such as SpaceX, which listed on Nasdaq in June 2026, and CXMT.

Growth has been far from even across the list. According to PwC, the US members of the top 100 grew from 9.46 trillion dollars in 2016 to 38.76 trillion dollars in March 2026, while the European members grew from 3.05 trillion to 4.03 trillion dollars over the same decade. The Chinese and Hong Kong members were worth 3.79 trillion dollars in 2021 and 3.33 trillion dollars in March 2026. These differences, more than the performance of any single company, explain why the list has become so American. The broader picture of exchange values by country is set out in our report on the largest stock markets by country.

The trillion dollar club at each census date

The number of listed companies worth 1 trillion dollars or more has grown quickly. At 31 March 2016 and 31 March 2019 there were none; the largest company in each census was worth 604 billion and 905 billion dollars. PwC counted five members in March 2023, eight in March 2025 and eleven in March 2026. At the end of September 2026 there were fifteen. Our top 20 report tracks the date on which each company first crossed the line; this section looks instead at who was inside the club on each census date and how much of the top 100 it represents.

Three times as many members as in 2023: five companies were worth 1 trillion dollars or more in March 2023, eleven in March 2026 and fifteen at the end of September 2026.

The club has not only grown in number but also in weight. Its eight members held 39.9 percent of the top 100 value in March 2025, its eleven members 48.1 percent in March 2026 and its fifteen members 55.4 percent at the end of September. Between March and September 2026 four companies joined: SpaceX through its listing, the memory makers Micron and Samsung Electronics on the back of surging chip prices, and Eli Lilly, whose weight loss drugs made it the only health care member. AMD finished the quarter just 1.3 billion dollars short of the line.

Membership can be lost as quickly as it is gained. Walmart, which traded above 1 trillion dollars early in 2026, was valued at 991 billion dollars by PwC in March and at 824 billion dollars at the end of September. Berkshire Hathaway and Saudi Aramco, both members in March, ended September close to or below their March values while the rest of the club grew. Twelve of the fifteen members are American; the three based elsewhere are TSMC, Saudi Aramco and Samsung Electronics. More data on the companies that have reached this mark is collected in our trillion dollar topic overview, and the company with the largest value is profiled in our NVIDIA statistics and facts.

Biggest risers and fallers since March 2026

Comparing the 30 September values with the PwC census of 31 March 2026 shows which companies drove the change. Eighty two of the 100 companies were in both lists. The biggest gains by percentage came from chip makers, especially memory: Micron rose from 381 billion to 1.21 trillion dollars, an increase of 216 percent, and AMD from 332 billion to 999 billion dollars. Intel almost tripled, to 635 billion dollars, and SK Hynix rose 158 percent to 961 billion dollars on its Seoul share price.

A memory and chip rally: Micron more than tripled in six months, and AMD, Intel and SK Hynix each gained more than 150 percent.

In dollar terms, the largest gains belonged to the largest companies. NVIDIA added about 1.27 trillion dollars in six months, Apple 1.13 trillion and Microsoft 1.06 trillion dollars. Micron added 824 billion dollars, more than the whole value of any company outside the top 20 at the end of March. The ten largest absolute gains together came to 7.76 trillion dollars.

Largest increases in market value, 31 March to 30 September 2026 (US$ billion)

Company	31 Mar 2026 (PwC)	30 Sep 2026	Change	Change in %
NVIDIA	4,237	5,504	+1,267	+29.9%
Apple	3,726	4,860	+1,134	+30.4%
Microsoft	2,749	3,809	+1,060	+38.6%
Micron Technology	381	1,205	+824	+216.3%
Alphabet	3,475	4,190	+715	+20.6%
AMD	332	999	+667	+200.9%
TSMC	1,427	2,019	+592	+41.5%
SK Hynix	372	961	+589	+158.3%
Samsung Electronics	697	1,162	+465	+66.7%
Amazon	2,236	2,687	+451	+20.2%

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The fallers came mostly from consumer businesses. Netflix lost 28.6 percent of its value between March and September, CATL 23.6 percent and LVMH 17.6 percent. Walmart fell 16.9 percent, a loss of 167 billion dollars, the largest absolute decline among companies that stayed in the list. Saudi Aramco lost 138 billion dollars, and Tencent, Kweichow Moutai, Home Depot, Costco and Verizon also ended the period lower.

Consumer names lost ground: Netflix fell 28.6 percent, CATL 23.6 percent and LVMH 17.6 percent while chip stocks surged.

These changes are measured in US dollars and include currency movements. Companies whose two values rest on clearly different share bases, such as Toyota and Mitsubishi UFJ, where PwC and the US receipt data count shares differently, are left out of the charts but appear in the full table. The revenue side of some of the largest movers is tracked in our reports on Tesla revenue and on Apple.

Who joined and who left the top 100 in 2026

Eighteen companies in our ranking were not in the PwC top 100 of 31 March 2026, and the same number dropped out. The newcomers are dominated by technology. Two are new listings or companies that were not yet ranked: SpaceX, sixth in the world at 2.05 trillion dollars, and CXMT, the Chinese memory maker in 25th place. The others are chip and network hardware companies lifted by spending on AI data centers, cybersecurity software groups and a handful of banks.

Many of the exits were not caused by large falls. Walt Disney, Gilead Sciences and Salesforce were each worth more in September than in March, but the bar for entry rose by about 27 billion dollars and they were overtaken by faster growing companies. Others did lose value: PepsiCo fell from 212 billion to 173 billion dollars and T-Mobile US from 231 billion to 175 billion dollars. The exits of Hermes, whose shares fell to 1,336.50 euros on 30 September for a value of about 159 billion dollars, and of Reliance Industries left Europe with one luxury company in the list and India with none.

The companies just outside the top 100

The end of the list is so tight that the cut-off depends on a few hundred million dollars. Verizon, in 100th place at 190.6 billion dollars, was only 0.4 billion dollars ahead of TotalEnergies in 101st place. The Japanese memory maker Kioxia followed at 189.8 billion dollars, then Salesforce at 188.9 billion, Schneider Electric at 186.9 billion and Gilead Sciences at 184.8 billion dollars.

Ranks 96 to 105 by market value, 30 September 2026 (US$ billion)

Rank	Company	Country	Market value
96	Toronto-Dominion Bank	Canada	192.6
97	Analog Devices	United States	192.2
98	Inditex	Spain	190.9
99	Shopify	Canada	190.8
100	Verizon	United States	190.6
101	TotalEnergies	France	190.2
102	Kioxia	Japan	189.8
103	Salesforce	United States	188.9
104	Schneider Electric	France	186.9
105	Gilead Sciences	United States	184.8

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Several other well known companies sit a little further back, between about 150 and 185 billion dollars. They include Walt Disney, Deere and Tokyo Electron, as well as T-Mobile US, PepsiCo, Foxconn Industrial Internet and Southern Copper, each worth between 170 and 175 billion dollars. Because so many companies are close together, a move of 5 percent in a single share price can change three or four places at the bottom of the ranking, which is why every value on this page carries its date.

Why rankings of the largest companies differ

A market value looks precise, but it depends on choices that differ between data providers. Readers comparing this list with others should keep five points in mind.

Two values also differ in date. International Holding Company is valued at its close of 22 September 2026, the latest close before 30 September that could be verified, and the comparison with the World Federation of Exchanges uses a total for the end of 2025. Basic terms such as free float, share classes and depositary receipts are explained in our stock market glossary.

Finally, market value is only one measure of size. It reflects what investors expect a company to earn in the future, not what it sells or employs today. The four big Chinese banks hold far more assets than most companies above them, and Walmart and Amazon earn far more revenue than NVIDIA. A ranking by market value is best read as a ranking of investor expectations at a given moment, and the moment here is the close of 30 September 2026.

The global top 100 in eight numbers

Questions about the biggest companies in the world