Global Top 100 companies reach record $20 trillion: PwC
View(s):London -The market capitalisation of the 100 largest companies globally has increased significantly by US$2,597 billion or 15 per cent compared to 31 March 2017, according to PwC’s Global Top 100 ranking, released this week.
Some 48 per cent of growth in the past year has been contributed by US companies, on the back of strong economic conditions and their pre-eminent position in the technology sector. Europe registers an increase in market capitalisation for the second year running, with its market share remaining unchanged, PwC said in a media release.
Amazon was the strongest performer in terms of absolute increase in market capitalisation, gaining $278 billion in value compared to 2017. It’s followed by two Chinese companies: Tencent, up by $224 billion and Alibaba, rising by $201 billion. The next three highest performers in absolute terms are all from the US – Microsoft, Alphabet and Apple.
Despite coming sixth in terms of absolute growth in value, Apple retains pole position in terms of market capitalisation for the seventh year in a row. However, its lead over Alphabet in second place has narrowed by 25 per cent. Apple has also returned more cash to shareholders than any other company. JP Morgan Chase ranks second in terms of value distribution with $24 billion, up from $18 billion the previous year.
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.