As of March 8, 2024, Novo Nordisk is the most valuable company in Europe, with a market cap of $554 billion. Following it are LVMH ($453 billion) and ASML Holding NV ($391 billion). Europe’s top five most valuable companies include some of the world’s most renowned brands: Nestlé (No. 4, $276 billion) and Hermes International (No. 5, $259 billion).
Overall, among Europe’s top 10 largest companies by market capitalization, the sixth, seventh, eighth, ninth, and tenth positions are held by L’ORÉAL, SAP SE, Roche Holding, Novartis AG, and Shell Plc.
Which one is the most valuable in Europe by market cap? This list comprises the biggest companies currently in Europe by market cap in 2024:
Europe's Largest Companies by market capitalization, 2024
| RANK | COMPANY | MARKET CAPITAL (USD DOLLAR) | CEO |
|---|---|---|---|
| 1 | NOVO NORDISK A/S | $554 billion | Lars Fruergaard Jorgensen |
| 2 | LVMH | $453 billion | Bernard Arnault |
| 3 | ASML HOLDING N.V. | $391 billion | Peter T. F. M. Wennink |
| 4 | NESTLÉ S.A. | $276 billion | Ulf Mark Schneider |
| 5 | HERMES INTERNATIONAL | $259 billion | Axel Dumas |
| 6 | L'ORÉAL | $255 billion | Nicolas Hieronimus |
| 7 | SAP SE | $222 billion | Christian Klein |
| 8 | ROCHE HOLDING AG | $215 billion | Thomas Schinecker |
| 9 | NOVARTIS AG | $211 billion | Vasant Narasimhan |
| 10 | SHELL PLC | $205 billion | Wael Sawan |
| 11 | ASTRAZENECA PLC | $200 billion | Pascal Soriot D.V.M |
| 12 | TOTALENERGIES SE | $158 billion | Patrick Pouyanné |
| 13 | CHRISTIAN DIOR SE | $156 billion | Antoine Arnault |
| 14 | SIEMENS AG | $154 billion | Roland Busch Dipl |
| 15 | HSBC HOLDINGS PLC | $146 billion | Noel Paul Quinn |
| 16 | INDITEX | $139 billion | Oscar Garcia Maceiras |
| 17 | AIRBUS SE | $136 billion | Guillaume M.J.D Faury |
| 18 | SCHNEIDER ELECTRIC SE | $127 billion | Peter W. Herweck |
| 19 | UNILEVER PLC | $123 billion | Hein. M. A. Schumacher |
| 20 | DEUTSCHE TELEKOM AG | $120 billion | Timotheus Hottges |
| 21 | ANHEUSER-BUSCH INBEV SA/NV | $120 billion | Michel Dimitrios Doukeris |
| 22 | SANOFI | $119 billion | Paul Hudson |
| 23 | RIO TINTO PLC | $111 billion | Jakob Stausholm M.S. |
| 24 | AIR LIQUIDE | $109 billion | François Jackow |
| 25 | ALLIANZ SE | $109 billion | Oliver Bate |
| 26 | INVESTOR AB | $77.19 billion | Christian Cederholm |
| 27 | EQUINOR ASA | $76.53 billion | Anders Opedal |
| 28 | MERCK KGAA | $75.03 billion | Belén Garijo |
| 29 | IBERDROLA, S.A. | $74.18 billion | Armando Martínez |
| 30 | VINCI | $72.92 billion | Xavier Huillard |
Market capitalization, commonly known as market cap, refers to the total market value of a company’s outstanding shares. It is calculated by multiplying the current stock price by the total number of shares outstanding. For example, if a company has 2.34 billion shares outstanding and its stock price is $66.66 per share, its market cap would be $156 billion (2,340,000,000 x $66.66). Investors often use the market cap as a quick estimate of a company’s overall value and as a factor in determining whether to buy a stock. Stocks are often categorized by market cap: mega-cap ($100 billion-plus), large-cap ($10 billion-$100 billion), mid-cap ($2 billion-$10 billion), small-cap ($300 million-$2 billion), and micro-cap (less than $300 million).
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