Global Top 100: Market capitalisation of the 100 largest companies reaches record levels

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China is narrowing the US’s lead

 

The market capitalisation of the 100 largest companies globally has increased significantly by $2,597bn or 15% compared to 2017, according to PwC’s Global Top 100 ranking. This rise comes on top of a 12% increase in 2017, and the total capitalisation continues to grow, year on year, since the global financial crisis. 

Forty eight percent of growth in the past year has been contributed by US companies, which accounts for more than half of the Top 100 (54 companies, down from 55 in 2017). It also weighs in with 61% of the overall market capitalisation, down from 63% last year. The market capitalisation of the companies from China in the Top 100 leaps by 57% compared to 2017, with 12 Chinese companies making the Top 100, up from 10 last year. Hong Kong contributes another two companies, up from one in 2017.

At the same time, Europe registers an increase in market capitalisation for the second year running, showing signs of recovery from the global financial crisis which hit hard the European companies.  The number of European companies in the Top 100 increased from 22 to 23, while its market share remained unchanged at 17%.

Amazon is the strongest performer in terms of absolute increase in market capitalisation, gaining $278bn or 66% in value compared to 2017.  It’s followed by two Chinese companies: Tencent, up by $224bn 0r 82%, and Alibaba, rising by $201bn or 75%. The next three highest performers in absolute terms are all from the US – Microsoft, Alphabet and Apple. Turning to sectors, technology remains ahead of the financial sector in market capitalisation for the third successive year, with consumer goods in third place. The global top three are still technology companies – Apple, Alphabet, Microsoft – followed by Tencent in fifth position and Facebook in eighth, down from sixth last year.

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