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Most Valuable Companies in the EU, by Country
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In this graphic, we mapped out the most valuable corporations in 11 major EU economies, based on their market capitalizations as of April 15th, 2024. All figures are in USD, and were sourced from Companiesmarketcap.com.
Novo Nordisk is currently worth more than $550 billion, making it Europe’s most valuable company by a wide margin. The pharmaceutical giant specializes in diabetes and weight-loss drugs. Demand for two of them, Ozempic and Wegovy, has surged due to their weight-loss capabilities, even causing nationwide shortages in the United States.
The following table includes an expanded list of the most valuable publicly-traded company in larger EU economies. Many of these were not included in the graphic due to space limitations.
CountryCompanySectorMarket Cap
Denmark Novo NordiskPharmaceuticals$562B
France LVMHLuxury Goods$422B
Netherlands ASMLSemiconductor Equipment$382B
Germany SAPEnterprise Software$214B
Ireland AccentureIT Services$197B
Spain InditexRetail$147B
Belgium Anheuser-Busch InBevBeverages$116B
Sweden Atlas CopcoIndustrial Equipment$80B
Italy FerrariAutomotive$76B
Finland Nordea BankBanking$40B
Austria Verbund AGEnergy$26B
Luxembourg TenarisOil & Gas Equipment$22B
Czech Republic CEZ GroupEnergy$20B
Poland PKN OrlenEnergy$20B
Portugal EDP GroupEnergy$16B
Greece EurobankBanking$7B
Hungary MOL GroupEnergy$7B
Croatia Zagrebacka BankaBanking$6B
Romania RomgazEnergy$4B
Slovenia KrkaPharmaceuticals$4B
Note: Figures are rounded and last updated on April 15th, 2024. Countries with top publicly-traded companies worth under $4 billion are excluded.
Luxury supergiant LVMH—which owns brands like Tiffany, Christian Dior, and TAG Heuer to name a few—is Europe’s second largest company by market cap, at $420 billion.
Rounding out the top three is ASML, which produces equipment crucial to chip manufacturers, worth $380 billion.
When looking at the region, there is a vast disparity between EU member states and their most valuable companies.
For example, as mentioned earlier, Denmark’s Novo Nordisk and France’s LVMH are worth between $400-550 billion each. Meanwhile, some countries don’t even have a single publicly-listed company that is worth over $1 billion.
In fact, only 12 EU countries (less than half of the union) are home to the top 100 most valuable companies within the bloc. An additional four countries are represented if you look at the list of the top 200 companies.
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