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.
| Country | Company | Sector | Market Cap |
|---|---|---|---|
| 🇩🇰 Denmark | 💊 Novo Nordisk | Pharmaceuticals | $562B |
| 🇫🇷 France | 👜 LVMH | Luxury Goods | $422B |
| 🇳🇱 Netherlands | 🔧 ASML | Semiconductor Equipment | $382B |
| 🇩🇪 Germany | 💼 SAP | Enterprise Software | $214B |
| 🇮🇪 Ireland | 🖥️ Accenture | IT Services | $197B |
| 🇪🇸 Spain | 👗 Inditex | Retail | $147B |
| 🇧🇪 Belgium | 🍻 Anheuser-Busch InBev | Beverages | $116B |
| 🇸🇪 Sweden | 🛠️ Atlas Copco | Industrial Equipment | $80B |
| 🇮🇹 Italy | 🏎️ Ferrari | Automotive | $76B |
| 🇫🇮 Finland | 🏦 Nordea Bank | Banking | $40B |
| 🇦🇹 Austria | 🔌 Verbund AG | Energy | $26B |
| 🇱🇺 Luxembourg | 🏗️ Tenaris | Oil & Gas Equipment | $22B |
| 🇨🇿 Czech Republic | 💡 CEZ Group | Energy | $20B |
| 🇵🇱 Poland | ⛽ PKN Orlen | Energy | $20B |
| 🇵🇹 Portugal | 🔌 EDP Group | Energy | $16B |
| 🇷🇴 Romania | 🔌 Hidroelectrica | Energy | $13B |
| 🇬🇷 Greece | 🏦 Eurobank | Banking | $7B |
| 🇭🇺 Hungary | ⛽ MOL Group | Energy | $7B |
| 🇭🇷 Croatia | 🏦 Zagrebacka Banka | Banking | $6B |
| 🇸🇮 Slovenia | 💊 Krka | Pharmaceuticals | $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.
