Global Top 100 companies by market capitalisation
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Jul 12, 2018
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About This Presentation
In this brief report we have ranked the Global Top 100
companies by market capitalisation and highlighted the
major trends since 2009 as they emerged from the global
financial crisis.
Slide Content
Global Top 100
companies by market
capitalisation
31 March 2018 update
An IPO Centre publication
companies by market
capitalisation
31 March 2018 update
An IPO Centre publication
PwC| Title
Highlights and trends 3
Year-on-year comparison:
2018 vs. 2017 11
Value distributed to shareholders
in calendar year 2017 21
Post-financial crisis comparison:
2018 vs. 2009 26
Complete ranking 38
2PwC | Global Top 100 companies by market capitalisation
Contents
Methodology 44
Highlights and trends 3
Year-on-year comparison:
2018 vs. 2017 11
Value distributed to shareholders
in calendar year 2017 21
Post-financial crisis comparison:
2018 vs. 2009 26
Complete ranking 38
2PwC | Global Top 100 companies by market capitalisation
Contents
Methodology 44
3
Agenda
PwC | Global Top 100 companies by market capitalisation 3
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Highlights and trends
Agenda
PwC | Global Top 100 companies by market capitalisation 3
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Highlights and trends
PwC | Global Top 100 companies by market capitalisation
Introduction
In this brief report we have ranked the Global Top 100
companies by market capitalisation and highlighted the
major trends since 2009 as they emerged from the global
financial crisis.
337329
417
559
416
469
725
604
754
851
40 61 69 64 70 81 85 76 88 97
0
200
400
600
800
1,000
2009201020112012201320142015201620172018
Ma rket Ca p ($bn)
Market caps of top and bottom companies
Number 1
Number 100
A ppl e
A ppl e
A ppl e
A ppl e
A ppl e
A ppl e
A ppl e
8,402
17,438
20,035
0
3,000
6,000
9,000
12,000
15,000
18,000
21,000
24,000
2009201020112012201320142015201620172018
Ma rket Ca p ($bn)
Total market cap of Top 100 companies as at 31 March
0
10
20
30
40
50
<$50bn$50bn -
$75bn
$75bn -
$100bn
$100bn -
$150bn
$150bn -
$200bn
$200bn -
$250bn
$250bn -
$300bn
>$300bn
No. of compa nies
Spread of companies by market cap (2018 vs. 2009)
Number of Top 100
companies in 2018
Number of Top 100
companies in 2009
Key highlights
•The market capitalisation of the Global Top 100 has
increased by 15% since last year. This compares with a
11.5% increase in the MSCI World Index.
•Appleretains the pole position for the seventh year in
a row. Apple’s market cap increased by 13%, although
the gap with second placed Alphabet has decreased by
25%.
•The T op four companies are unchanged compared to
last year. There are two new entrants in the Top ten,
Chinese technology companies,Tencentand Alibaba,
replacing US companies Exxon Mobil and Wells
Fargo.
•For a second year in a row, Technology wasthe
largest sector in terms of market cap ($4,806bn).
Second place was the Financials sector ($4,421bn), but
with the highest number of companies (23) and
Consumer Goods ($2,827bn) came third.
•The US still dominates -54 out of 100 are US
companies. This has dropped, however, from 55 in the
previous year. Two of the top ten US companies from
last year have been replaced by Chinese companies.
•Share buybacks boosted the 2.2% dividend yield to an
overall of 3.5% by reference to market capitalisation.
Source: Bloomberg and PwC analysis
Exxon
Mobi l
Petro-
Ch i n a
Exxon
Mobi l
4
Introduction
In this brief report we have ranked the Global Top 100
companies by market capitalisation and highlighted the
major trends since 2009 as they emerged from the global
financial crisis.
337329
417
559
416
469
725
604
754
851
40 61 69 64 70 81 85 76 88 97
0
200
400
600
800
1,000
2009201020112012201320142015201620172018
Ma rket Ca p ($bn)
Market caps of top and bottom companies
Number 1
Number 100
A ppl e
A ppl e
A ppl e
A ppl e
A ppl e
A ppl e
A ppl e
8,402
17,438
20,035
0
3,000
6,000
9,000
12,000
15,000
18,000
21,000
24,000
2009201020112012201320142015201620172018
Ma rket Ca p ($bn)
Total market cap of Top 100 companies as at 31 March
0
10
20
30
40
50
<$50bn$50bn -
$75bn
$75bn -
$100bn
$100bn -
$150bn
$150bn -
$200bn
$200bn -
$250bn
$250bn -
$300bn
>$300bn
No. of compa nies
Spread of companies by market cap (2018 vs. 2009)
Number of Top 100
companies in 2018
Number of Top 100
companies in 2009
Key highlights
•The market capitalisation of the Global Top 100 has
increased by 15% since last year. This compares with a
11.5% increase in the MSCI World Index.
•Appleretains the pole position for the seventh year in
a row. Apple’s market cap increased by 13%, although
the gap with second placed Alphabet has decreased by
25%.
•The T op four companies are unchanged compared to
last year. There are two new entrants in the Top ten,
Chinese technology companies,Tencentand Alibaba,
replacing US companies Exxon Mobil and Wells
Fargo.
•For a second year in a row, Technology wasthe
largest sector in terms of market cap ($4,806bn).
Second place was the Financials sector ($4,421bn), but
with the highest number of companies (23) and
Consumer Goods ($2,827bn) came third.
•The US still dominates -54 out of 100 are US
companies. This has dropped, however, from 55 in the
previous year. Two of the top ten US companies from
last year have been replaced by Chinese companies.
•Share buybacks boosted the 2.2% dividend yield to an
overall of 3.5% by reference to market capitalisation.
Source: Bloomberg and PwC analysis
Exxon
Mobi l
Petro-
Ch i n a
Exxon
Mobi l
4
PwC | Global Top 100 companies by market capitalisation
Total market capitalisationof Global Top 100
companies as at 31 March
8,402
17,438
20,035
0
3,000
6,000
9,000
12,000
15,000
18,000
21,000
24,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Market Cap ($bn)
Total market cap of Top 100 companies as at 31 March
337 329
417
559
416
469
7 25
604
7 54
851
40 61 69 64 70 81 85 76 88 97
0
200
400
600
800
1,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Market Cap ($bn)
Market caps of top and bottom companies
Number 1
Number 100
Source: Bloomberg and PwC analysis
Apple
Apple
PetroChina
Apple
Apple
Apple
Exxon
Mobil
Apple
Apple
Exxon
Mobil
5
Total market capitalisationof Global Top 100
companies as at 31 March
8,402
17,438
20,035
0
3,000
6,000
9,000
12,000
15,000
18,000
21,000
24,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Market Cap ($bn)
Total market cap of Top 100 companies as at 31 March
337 329
417
559
416
469
7 25
604
7 54
851
40 61 69 64 70 81 85 76 88 97
0
200
400
600
800
1,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Market Cap ($bn)
Market caps of top and bottom companies
Number 1
Number 100
Source: Bloomberg and PwC analysis
Apple
Apple
PetroChina
Apple
Apple
Apple
Exxon
Mobil
Apple
Apple
Exxon
Mobil
5
PwC | Global Top 100 companies by market capitalisation
The race to land a trillion dollar
market cap
•Apple is still the world’s most
valuable public company.
•HoweverAmazon, Microsoft,
Alphabet andApple are all in the
running to become the first ever
company to be valued at one trillion
dollars, with analysts believing that this
could happen by end of 2018.
•Microsoft's value overtook Alphabet for
thefirst time in three years on 12 April
2018 and has overtaken Alphabet on a
number of occasions since then –as
shown in thegraph.
Source: Bloomberg and PwC analysis
0
100
200
300
400
500
600
700
800
900
1,000
Jan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17Sep-17Oct-17Nov-17Dec-17Jan-18Feb-18Mar-18Apr-18May-18
Market Cap ($bn)
Apple Alphabet Microsoft Amazon
600
700
800
900
1,000
Market Cap ($bn)
6
The race to land a trillion dollar
market cap
•Apple is still the world’s most
valuable public company.
•HoweverAmazon, Microsoft,
Alphabet andApple are all in the
running to become the first ever
company to be valued at one trillion
dollars, with analysts believing that this
could happen by end of 2018.
•Microsoft's value overtook Alphabet for
thefirst time in three years on 12 April
2018 and has overtaken Alphabet on a
number of occasions since then –as
shown in thegraph.
Source: Bloomberg and PwC analysis
0
100
200
300
400
500
600
700
800
900
1,000
Jan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17Sep-17Oct-17Nov-17Dec-17Jan-18Feb-18Mar-18Apr-18May-18
Market Cap ($bn)
Apple Alphabet Microsoft Amazon
600
700
800
900
1,000
Market Cap ($bn)
6
PwC | Global Top 100 companies by market capitalisation
Market cap of the Global Top 100 by world
region
•The UShas seen an impressive growth of
its share of the largest companies since 31
March 2009. This has dropped, however,
from 55 in the previous year and two of
the top ten US companies from last year
have been replaced by Chinese companies.
By market cap, the US share was 45% at
31 March 2009 rising to 61% in 2018.
•Europewas badly hit by the financial
crisis and nine companies fell out of the
Top 100 between 31 March 2009 and
2017. In 2018, however, there was an
increase of one company. By market cap
Europe represented 27% at 31 March
2009 dropping to 17% in 2018.
•Chinahad fluctuated between seven and
nine companies between 2009 to 2014,
before stabilisingbetween 2015 and 2017
at the level of ten companies.2018 saw
the highest increase in the period, rising
to 12 companies.By market cap, China’s
share increased marginally to14% at 31
March 2018 from 13% at 31 March 2009.
•The Rest of the World saw two
companies drop out of the Top 100 in the
last year and a drop of $15bn in market
cap. Japan saw the biggest loss out of all
of the locations and South Africa joined
the Top 100 with its first company -
Naspers.
Source: Bloomberg and PwC analysis
3 ,805
5 ,170
5 ,538
6 ,202
6 ,7 39
8 ,052
9 ,322
9 ,636
1 0 ,928
1 2,187
1 ,0611 ,2601 ,459
1 ,2261 ,1 451 ,1 31
2 ,0121 ,5171 ,801
2 ,822
2 ,272
3 ,311
3 ,370
2 ,980
3 ,347
3 ,997
3 ,424
2 ,9963 ,031
3 ,362
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Ma r ket cap
($bn) Market cap change 2017 to 2018
• US u p $1,259bn
• Eu rope u p $331bn
• Ch i n a up $1,021bn
42
39
38
41
43
47
53 54 55
54
9 9 9
8 7
7
10 10 10
12
31
33
31
27 28
30
26
24
22
23
0
10
20
30
40
50
60
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Nu m ber of com panies
US Ch ina Eu r ope
7
Market cap of the Global Top 100 by world
region
•The UShas seen an impressive growth of
its share of the largest companies since 31
March 2009. This has dropped, however,
from 55 in the previous year and two of
the top ten US companies from last year
have been replaced by Chinese companies.
By market cap, the US share was 45% at
31 March 2009 rising to 61% in 2018.
•Europewas badly hit by the financial
crisis and nine companies fell out of the
Top 100 between 31 March 2009 and
2017. In 2018, however, there was an
increase of one company. By market cap
Europe represented 27% at 31 March
2009 dropping to 17% in 2018.
•Chinahad fluctuated between seven and
nine companies between 2009 to 2014,
before stabilisingbetween 2015 and 2017
at the level of ten companies.2018 saw
the highest increase in the period, rising
to 12 companies.By market cap, China’s
share increased marginally to14% at 31
March 2018 from 13% at 31 March 2009.
•The Rest of the World saw two
companies drop out of the Top 100 in the
last year and a drop of $15bn in market
cap. Japan saw the biggest loss out of all
of the locations and South Africa joined
the Top 100 with its first company -
Naspers.
Source: Bloomberg and PwC analysis
3 ,805
5 ,170
5 ,538
6 ,202
6 ,7 39
8 ,052
9 ,322
9 ,636
1 0 ,928
1 2,187
1 ,0611 ,2601 ,459
1 ,2261 ,1 451 ,1 31
2 ,0121 ,5171 ,801
2 ,822
2 ,272
3 ,311
3 ,370
2 ,980
3 ,347
3 ,997
3 ,424
2 ,9963 ,031
3 ,362
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Ma r ket cap
($bn) Market cap change 2017 to 2018
• US u p $1,259bn
• Eu rope u p $331bn
• Ch i n a up $1,021bn
42
39
38
41
43
47
53 54 55
54
9 9 9
8 7
7
10 10 10
12
31
33
31
27 28
30
26
24
22
23
0
10
20
30
40
50
60
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Nu m ber of com panies
US Ch ina Eu r ope
7
PwC | Global Top 100 companies by market capitalisation
Top 100 companies per location of domicile –
trends 2009-2018 (1/3)
Source: Bloomberg and PwC analysis
* 2009 figure s do not add to 100 due to seven companies in the 2009 Top 100 being in locations of domicile that are no longer in the Global Top 100
3
5
7
9
9
42
3
4
4
5
10
55
3
4
4
5
12
54
- 10 20 30 40 50 60
Switzerland
Germany
France
United Kingdom
China
United States
Number of companies in the Top 100
2018
2017
2009*
8
Top 100 companies per location of domicile –
trends 2009-2018 (1/3)
Source: Bloomberg and PwC analysis
* 2009 figure s do not add to 100 due to seven companies in the 2009 Top 100 being in locations of domicile that are no longer in the Global Top 100
3
5
7
9
9
42
3
4
4
5
10
55
3
4
4
5
12
54
- 10 20 30 40 50 60
Switzerland
Germany
France
United Kingdom
China
United States
Number of companies in the Top 100
2018
2017
2009*
8
PwC | Global Top 100 companies by market capitalisation
Top 100 companies per location of domicile –
trends 2009-2018 (2/3)
Source: Bloomberg and PwC analysis
* 2009 figure s do not add to 100 due to seven companies in the 2009 Top 100 being in locations of domicile that are no longer in the Global Top 100
1
2
1
0
1
2
1
2
3
1
2
1
1
2
2
2
2
2
- 1 2 3 4 5 6 7 8 9 10
South Korea
Spain
Australia
Ireland
Canada
Hong Kong
Number of companies in the Top 100
2018
2017
2009*
9
Top 100 companies per location of domicile –
trends 2009-2018 (2/3)
Source: Bloomberg and PwC analysis
* 2009 figure s do not add to 100 due to seven companies in the 2009 Top 100 being in locations of domicile that are no longer in the Global Top 100
1
2
1
0
1
2
1
2
3
1
2
1
1
2
2
2
2
2
- 1 2 3 4 5 6 7 8 9 10
South Korea
Spain
Australia
Ireland
Canada
Hong Kong
Number of companies in the Top 100
2018
2017
2009*
9
PwC | Global Top 100 companies by market capitalisation
Top 100 companies per location of domicile –
trends 2009-2018 (3/3)
Source: Bloomberg and PwC analysis
* 2009 figure s do not add to 100 due to seven companies in the 2009 Top 100 being in locations of domicile that are no longer in the Global Top 100
0
3
0
1
6
0
1
0
1
1
1
4
1
1
1
1
1
1
1
1
1
- 1 2 3 4 5 6
South Africa
Brazil
Denmark
Netherlands
Japan
Taiwan
Belgium
Number of companies in the Top 100
2018
2017
2009*
10
Top 100 companies per location of domicile –
trends 2009-2018 (3/3)
Source: Bloomberg and PwC analysis
* 2009 figure s do not add to 100 due to seven companies in the 2009 Top 100 being in locations of domicile that are no longer in the Global Top 100
0
3
0
1
6
0
1
0
1
1
1
4
1
1
1
1
1
1
1
1
1
- 1 2 3 4 5 6
South Africa
Brazil
Denmark
Netherlands
Japan
Taiwan
Belgium
Number of companies in the Top 100
2018
2017
2009*
10
11
Agenda
PwC | Global Top 100 companies by market capitalisation 11
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Year-on-year comparison
2018 vs. 2017
Agenda
PwC | Global Top 100 companies by market capitalisation 11
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Year-on-year comparison
2018 vs. 2017
PwC | Global Top 100 companies by market capitalisation
The movements
Key highlights
•Top 100 companies market cap increased by 15% compared to 31 March 2017.
•The USis the largest contributor of the Top 100, gaining $1,259bn to total $12,187bn.
•China, the second largest contributor to the Top 100, saw an increase of 57% when compared to the Top 100
companies at 31 March 2017, totalling $2,822bn.
•85 companies from 2017 survived to be in the list at 31 March 2018 –a decrease of 7% compared to last year (91
companies from the 2016 Top 100 list were on the 2017 list).
•There were no direct entries via IPO this year. The last company to enter the Top 100 via IPO was Alibaba in
2014.
•The market cap of the most valuable company at 31 March 2018, Apple, increased by 13% to $851bn. The US still
has the highest combined market capitalisationof national Global Top 100 companies ($12,187bn), a 12% increase
since 31 March 2017.
•2018 has not seen much change in the location split compared to 2017: the US dominates with 54 US companies in
the Global Top 100(55 in 2017, 42 in 2009). China holds the second position with 12 companies (two
more than last year and three more than 2009) and the UK comes third with five companies (no change from last
year, there were nine in 2009).
•The threshold to enter the Top 100 has increased to $97bn this year, compared to $88bn in March 2017.
12
The movements
Key highlights
•Top 100 companies market cap increased by 15% compared to 31 March 2017.
•The USis the largest contributor of the Top 100, gaining $1,259bn to total $12,187bn.
•China, the second largest contributor to the Top 100, saw an increase of 57% when compared to the Top 100
companies at 31 March 2017, totalling $2,822bn.
•85 companies from 2017 survived to be in the list at 31 March 2018 –a decrease of 7% compared to last year (91
companies from the 2016 Top 100 list were on the 2017 list).
•There were no direct entries via IPO this year. The last company to enter the Top 100 via IPO was Alibaba in
2014.
•The market cap of the most valuable company at 31 March 2018, Apple, increased by 13% to $851bn. The US still
has the highest combined market capitalisationof national Global Top 100 companies ($12,187bn), a 12% increase
since 31 March 2017.
•2018 has not seen much change in the location split compared to 2017: the US dominates with 54 US companies in
the Global Top 100(55 in 2017, 42 in 2009). China holds the second position with 12 companies (two
more than last year and three more than 2009) and the UK comes third with five companies (no change from last
year, there were nine in 2009).
•The threshold to enter the Top 100 has increased to $97bn this year, compared to $88bn in March 2017.
12
PwC | Global Top 100 companies by market capitalisation
Between 2017 and 2018 there were 15 new
entrants to the Global Top 100
1
14
0
15
0
10
20
30
40
50
60
70
80
90
100
Global Top 100 as at
31 March 2017
Acquired, merged or
separated
Dropped from the
Global Top 100
IPOs and spin-offsNew entries by
growth and M&A
Global Top 100 as at
31 March 2018
Number of companies
•Rey nolds
A m erican
Source: Bloomberg and PwC analysis
•BA SF
•Ba y er
•Celg ene Group
•Ch arter
Com m unications
•Eli Lilly
•Kr a ft Heinz
•Mitsu bishi UFJ
Fin ancial
•Nippon Telegraph &
Telephone
•NTT DoCoMo
•Pr iceline
•Sch lumberger
•Un ited Parcel Services
•W a lgreen Boots
A lliance
•W estpac Ba nking
•A bbott Laboratories
•A ccenture
•A dobe Systems
•A IA
•A llianz
•Bookin g Holdings
•Ch ina Merchants Bank
•Dow Du Pont
•In du striaDe Diseno
Tex til
•Kw eichow Moutai
•Na spers
•Netflix
•NV IDIA
•Or a cle
•Tex as Instruments
•Un ion Pacific
•V olkswagen
13
Between 2017 and 2018 there were 15 new
entrants to the Global Top 100
1
14
0
15
0
10
20
30
40
50
60
70
80
90
100
Global Top 100 as at
31 March 2017
Acquired, merged or
separated
Dropped from the
Global Top 100
IPOs and spin-offsNew entries by
growth and M&A
Global Top 100 as at
31 March 2018
Number of companies
•Rey nolds
A m erican
Source: Bloomberg and PwC analysis
•BA SF
•Ba y er
•Celg ene Group
•Ch arter
Com m unications
•Eli Lilly
•Kr a ft Heinz
•Mitsu bishi UFJ
Fin ancial
•Nippon Telegraph &
Telephone
•NTT DoCoMo
•Pr iceline
•Sch lumberger
•Un ited Parcel Services
•W a lgreen Boots
A lliance
•W estpac Ba nking
•A bbott Laboratories
•A ccenture
•A dobe Systems
•A IA
•A llianz
•Bookin g Holdings
•Ch ina Merchants Bank
•Dow Du Pont
•In du striaDe Diseno
Tex til
•Kw eichow Moutai
•Na spers
•Netflix
•NV IDIA
•Or a cle
•Tex as Instruments
•Un ion Pacific
•V olkswagen
13
PwC | Global Top 100 companies by market capitalisation
Between 2017 and 2018 the total market cap of
the Global Top 100 increased by $2,597bn
Source: Bloomberg and PwC analysis
0
17 ,438 90 1,327
1,17 4
1,853 20,035
0
5,000
10,000
15,000
20,000
Global Top 100
as at 31 March
2017
1 acquired,
merged or
separated*
14 dropped from
the Global Top
100*
0 IPOs and spin-
offs
15 new entries by
growth and M&A
85 survivors'
increase
Global Top 100
as at 31 March
2018
T otal market cap ($bn)
•Rey nolds
A m erican
*Market cap at 31 March 2017
•BA SF
•Ba y er
•Celg ene Group
•Ch arter Communications
•Eli Lilly
•Kr a ft Heinz
•Mitsu bishi UFJ
Fin ancial
•Nippon Telegraph &
Telephone
•NTT DoCoMo
•Pr iceline
•Sch lumberger
•Un ited Parcel Services
•W a lgreen Boots Alliance
•W estpac Ba nking
•A bbott Laboratories
•A ccenture
•A dobe Systems
•A IA
•A llianz
•Bookin g Holdings
•Ch ina Merchants Ba nk
•Dow Du Pont
•In du striaDe Diseno
Tex til
•Kw eichow Moutai
•Na spers
•Netflix
•NV IDIA
•Or a cle
•Tex as Instruments
•Un ion Pacific
•V olkswagen
14
Between 2017 and 2018 the total market cap of
the Global Top 100 increased by $2,597bn
Source: Bloomberg and PwC analysis
0
17 ,438 90 1,327
1,17 4
1,853 20,035
0
5,000
10,000
15,000
20,000
Global Top 100
as at 31 March
2017
1 acquired,
merged or
separated*
14 dropped from
the Global Top
100*
0 IPOs and spin-
offs
15 new entries by
growth and M&A
85 survivors'
increase
Global Top 100
as at 31 March
2018
T otal market cap ($bn)
•Rey nolds
A m erican
*Market cap at 31 March 2017
•BA SF
•Ba y er
•Celg ene Group
•Ch arter Communications
•Eli Lilly
•Kr a ft Heinz
•Mitsu bishi UFJ
Fin ancial
•Nippon Telegraph &
Telephone
•NTT DoCoMo
•Pr iceline
•Sch lumberger
•Un ited Parcel Services
•W a lgreen Boots Alliance
•W estpac Ba nking
•A bbott Laboratories
•A ccenture
•A dobe Systems
•A IA
•A llianz
•Bookin g Holdings
•Ch ina Merchants Ba nk
•Dow Du Pont
•In du striaDe Diseno
Tex til
•Kw eichow Moutai
•Na spers
•Netflix
•NV IDIA
•Or a cle
•Tex as Instruments
•Un ion Pacific
•V olkswagen
14
PwC | Global Top 100 companies by market capitalisation
Global Top 100 companies per location
–absolute market capitalisationchange
Source: Bloomberg and PwC analysis
Loca t ion
Ch a ngein market ca p
of t h e current Top 100
($ bn)
T op 100 2018 T op 100 2017
Ra n k
Ma r ket cap
2018 ($ bn)
#
com panies
Ma r ket cap
2017 ($ bn)
(1) Ra n k
Ma r ket cap
($ bn)
#
com panies
Un ited States 1 ,530 1 1 2,187 54 1 0,657 1 1 0 ,928 55
Ch ina 880 2 2 ,822 12 1 ,942 2 1 ,801 10
Un ited Kingdom 93 3 8 1 4 5 7 21 3 7 21 5
Sw itzerland 0 4 6 55 3 6 55 4 6 55 3
Fr a nce 71 5 5 32 4 4 61 5 4 61 4
Germ any 41 6 4 37 4 3 96 7 4 24 4
Sou th Korea 39 7 2 98 1 2 59 9 2 59 1
Hon g Kong -10 8 2 9 0 2 3 0 0 10 2 24 1
Belg ium 0 9 2 22 1 2 22 11 2 22 1
Ta iwan 59 10 2 20 1 1 61 14 1 61 1
Ca nada 15 11 2 1 6 2 2 01 12 2 01 2
Ir eland 24 12 2 1 2 2 1 88 16 1 1 0 1
Ja pan 33 13 2 1 0 1 1 7 7 6 4 47 4
A u stralia 4 14 2 09 2 2 05 8 2 95 3
Spa in 2 15 2 02 2 2 0 0 13 2 00 2
Neth erlands 16 16 1 65 1 1 49 15 1 49 1
Den m ark 35 17 1 23 1 88 18 88 1
Br a zil 22 18 1 1 4 1 92 17 92 1
Sou th Africa 63 19 1 07 1 44 -- - -
(1) Market cap of companies at 31 March 2017 in the Global Top 100 at 31 March 2018
15
Global Top 100 companies per location
–absolute market capitalisationchange
Source: Bloomberg and PwC analysis
Loca t ion
Ch a ngein market ca p
of t h e current Top 100
($ bn)
T op 100 2018 T op 100 2017
Ra n k
Ma r ket cap
2018 ($ bn)
#
com panies
Ma r ket cap
2017 ($ bn)
(1) Ra n k
Ma r ket cap
($ bn)
#
com panies
Un ited States 1 ,530 1 1 2,187 54 1 0,657 1 1 0 ,928 55
Ch ina 880 2 2 ,822 12 1 ,942 2 1 ,801 10
Un ited Kingdom 93 3 8 1 4 5 7 21 3 7 21 5
Sw itzerland 0 4 6 55 3 6 55 4 6 55 3
Fr a nce 71 5 5 32 4 4 61 5 4 61 4
Germ any 41 6 4 37 4 3 96 7 4 24 4
Sou th Korea 39 7 2 98 1 2 59 9 2 59 1
Hon g Kong -10 8 2 9 0 2 3 0 0 10 2 24 1
Belg ium 0 9 2 22 1 2 22 11 2 22 1
Ta iwan 59 10 2 20 1 1 61 14 1 61 1
Ca nada 15 11 2 1 6 2 2 01 12 2 01 2
Ir eland 24 12 2 1 2 2 1 88 16 1 1 0 1
Ja pan 33 13 2 1 0 1 1 7 7 6 4 47 4
A u stralia 4 14 2 09 2 2 05 8 2 95 3
Spa in 2 15 2 02 2 2 0 0 13 2 00 2
Neth erlands 16 16 1 65 1 1 49 15 1 49 1
Den m ark 35 17 1 23 1 88 18 88 1
Br a zil 22 18 1 1 4 1 92 17 92 1
Sou th Africa 63 19 1 07 1 44 -- - -
(1) Market cap of companies at 31 March 2017 in the Global Top 100 at 31 March 2018
15
PwC | Global Top 100 companies by market capitalisation
Global Top 100 companies per location
–relative market capitalisationchange
Source: Bloomberg and PwC analysis
Loca t ion
% m a rket cap change
2017-2018
% in dex change
2017-2018*
T op 100 v s. National
in dex performance
2018 2017
Ma r ket cap of current
T op 100 ($ bn)
Ma r ket cap of current
T op 100 ($ bn)
Un ited States 514% 512% 5Ou tperformed 1 2,187 1 0 ,657
Ch ina 545% 513% 5Ou tperformed 2 ,822 1 ,942
Un ited Kingdom 513% 6-4% 5Ou tperformed 8 1 4 7 21
Sw itzerland }0% 51% 6Un derperformed 6 55 6 55
Fr a nce 515% 51% 5Ou tperformed 5 32 4 61
Germ any 510% 6-2% 5Ou tperformed 4 37 3 96
Sou th Korea 515% 513% 5Ou tperformed 2 98 2 59
Hon g Kong 6-3% 525% 6Un derperformed 2 9 0 3 0 0
Belg ium }0% 51% 6Un derperformed 2 22 2 22
Ta iwan 537% 511% 5Ou tperformed 2 20 1 61
Ca nada 57% 6-1% 5Ou tperformed 2 1 6 2 01
Ir eland 513% 6-1% 5Ou tperformed 2 1 2 1 88
Ja pan 519% 51 3% 5Ou tperformed 2 1 0 1 7 7
A u stralia 52% 6-2% 5Ou tperformed 2 0 9 2 05
Spa in 51% 6-8% 5Ou tperformed 2 02 2 0 0
Neth erlands 511% 53% 5Ou tperformed 1 65 1 49
Den m ark 54 0% 522% 5Ou tperformed 1 23 88
Br a zil 52 4% 531% 6Un derperformed 1 1 4 92
Sou th Africa 51 43% 58% 5Ou tperformed 1 07 44
* Pri ce change of the local main index per l ocation
16
Global Top 100 companies per location
–relative market capitalisationchange
Source: Bloomberg and PwC analysis
Loca t ion
% m a rket cap change
2017-2018
% in dex change
2017-2018*
T op 100 v s. National
in dex performance
2018 2017
Ma r ket cap of current
T op 100 ($ bn)
Ma r ket cap of current
T op 100 ($ bn)
Un ited States 514% 512% 5Ou tperformed 1 2,187 1 0 ,657
Ch ina 545% 513% 5Ou tperformed 2 ,822 1 ,942
Un ited Kingdom 513% 6-4% 5Ou tperformed 8 1 4 7 21
Sw itzerland }0% 51% 6Un derperformed 6 55 6 55
Fr a nce 515% 51% 5Ou tperformed 5 32 4 61
Germ any 510% 6-2% 5Ou tperformed 4 37 3 96
Sou th Korea 515% 513% 5Ou tperformed 2 98 2 59
Hon g Kong 6-3% 525% 6Un derperformed 2 9 0 3 0 0
Belg ium }0% 51% 6Un derperformed 2 22 2 22
Ta iwan 537% 511% 5Ou tperformed 2 20 1 61
Ca nada 57% 6-1% 5Ou tperformed 2 1 6 2 01
Ir eland 513% 6-1% 5Ou tperformed 2 1 2 1 88
Ja pan 519% 51 3% 5Ou tperformed 2 1 0 1 7 7
A u stralia 52% 6-2% 5Ou tperformed 2 0 9 2 05
Spa in 51% 6-8% 5Ou tperformed 2 02 2 0 0
Neth erlands 511% 53% 5Ou tperformed 1 65 1 49
Den m ark 54 0% 522% 5Ou tperformed 1 23 88
Br a zil 52 4% 531% 6Un derperformed 1 1 4 92
Sou th Africa 51 43% 58% 5Ou tperformed 1 07 44
* Pri ce change of the local main index per l ocation
16
PwC | Global Top 100 companies by market capitalisation
The risers –The 20 Global Top 100 companies
with the largest absolute increase in market cap
Source: Bloomberg and PwC analysis
Com pa ny name Loca t ion In du stry
Ch a nge in market ca p
2017-2018($ bn)
Ma r ket cap
2018 ($ bn)
Ma r ket cap
2017 ($ bn)
1A m azon.com Un ited States Con sumer Services 2 7 8 66% 7 01 4 23
2Ten cent Ch ina Technology 2 24 8 2 % 4 96 2 7 2
3A libaba Ch ina Con sumer Services 2 01 7 5% 4 7 0 2 69
4Micr osoft Un ited States Technology 1 94 3 8 % 7 03 5 09
5A lphabet Un ited States Technology 1 40 2 4 % 7 1 9 5 7 9
6A pple Un ited States Technology 98 1 3% 8 51 7 54
7Pin g An Insurance Ch ina Fin ancials 90 9 0 % 1 90 1 0 0
8ICBC Ch ina Fin ancials 89 3 7 % 3 36 2 46
9Boein g Un ited States In du strials 85 7 9% 1 93 1 08
10Ber kshire Hathaway Un ited States Fin ancials 81 2 0 % 4 92 4 1 1
11NV IDIA Un ited States Technology 76 1 1 9% 1 40 64
12In tel Un ited States Technology 72 4 2 % 2 43 1 7 1
13Dow Du Pont Un ited States Ba sic Ma terials 71 9 2 % 1 48 77
14Ba n k of America Un ited States Fin ancials 71 3 0 % 3 07 2 36
15Kw eichow Moutai Ch ina Con sumer Goods 66 9 3 % 1 37 71
16Netflix Un ited States Con sumer Services 64 1 0 0% 1 28 64
17Ma stercard Un ited States Fin ancials 63 5 2% 1 84 1 21
18JPMor g an Chase Un ited States Fin ancials 61 1 9% 3 7 5 3 1 4
19TSMC Ta iwan Technology 59 3 7 % 2 20 1 61
20Ch ina Construction Bank Ch ina Fin ancials 57 2 8 % 2 59 2 02
17
The risers –The 20 Global Top 100 companies
with the largest absolute increase in market cap
Source: Bloomberg and PwC analysis
Com pa ny name Loca t ion In du stry
Ch a nge in market ca p
2017-2018($ bn)
Ma r ket cap
2018 ($ bn)
Ma r ket cap
2017 ($ bn)
1A m azon.com Un ited States Con sumer Services 2 7 8 66% 7 01 4 23
2Ten cent Ch ina Technology 2 24 8 2 % 4 96 2 7 2
3A libaba Ch ina Con sumer Services 2 01 7 5% 4 7 0 2 69
4Micr osoft Un ited States Technology 1 94 3 8 % 7 03 5 09
5A lphabet Un ited States Technology 1 40 2 4 % 7 1 9 5 7 9
6A pple Un ited States Technology 98 1 3% 8 51 7 54
7Pin g An Insurance Ch ina Fin ancials 90 9 0 % 1 90 1 0 0
8ICBC Ch ina Fin ancials 89 3 7 % 3 36 2 46
9Boein g Un ited States In du strials 85 7 9% 1 93 1 08
10Ber kshire Hathaway Un ited States Fin ancials 81 2 0 % 4 92 4 1 1
11NV IDIA Un ited States Technology 76 1 1 9% 1 40 64
12In tel Un ited States Technology 72 4 2 % 2 43 1 7 1
13Dow Du Pont Un ited States Ba sic Ma terials 71 9 2 % 1 48 77
14Ba n k of America Un ited States Fin ancials 71 3 0 % 3 07 2 36
15Kw eichow Moutai Ch ina Con sumer Goods 66 9 3 % 1 37 71
16Netflix Un ited States Con sumer Services 64 1 0 0% 1 28 64
17Ma stercard Un ited States Fin ancials 63 5 2% 1 84 1 21
18JPMor g an Chase Un ited States Fin ancials 61 1 9% 3 7 5 3 1 4
19TSMC Ta iwan Technology 59 3 7 % 2 20 1 61
20Ch ina Construction Bank Ch ina Fin ancials 57 2 8 % 2 59 2 02
17
PwC | Global Top 100 companies by market capitalisation
The risers –The 20 Global Top 100 companies
with the largest relative increase in market cap
Source: Bloomberg and PwC analysis
Com pa ny name Loca t ion In du stry
Ch a nge in
m a rket cap
2017-2018($ bn)
Ma r ket cap
2018 ($bn)
Ma r ket cap
2017 ($bn)
1 NV IDIA Un ited States Technology 1 1 9% 1 40 64
2 Netflix Un ited States Con sumer Services 1 0 0% 1 28 64
3 Kw eichow Moutai Ch ina Con sumer Goods 9 3 % 1 37 71
4 Dow Du Pont Un ited States Ba sic Ma terials 9 2 % 1 48 77
5 Pin g An Insurance Ch ina Fin ancials 9 0 % 1 90 1 0 0
6 Ten cent Ch ina Technology 8 2 % 4 96 2 7 2
7 Boein g Un ited States In du strials 7 9% 1 93 1 08
8 A libaba Ch ina Con sumer Services 7 5% 4 7 0 2 69
9 A m azon.com Un ited States Con sumer Services 66% 7 01 4 23
10A dobe Systems Un ited States Technology 6 5% 1 06 64
11Ch ina Merchants Ba nk Ch ina Fin ancials 64% 1 1 4 70
12Ma stercard Un ited States Fin ancials 5 2% 1 84 1 21
13A bbVie Un ited States Hea lth Care 4 5% 1 50 1 04
14In tel Un ited States Technology 4 2 % 2 43 1 7 1
15Na spers Sou th Africa Con sumer Services 4 1 % 1 07 76
16Nov o Nordisk Den m ark Hea lth Care 4 0 % 1 23 88
17LV MH Fr a nce Con sumer Goods 4 0% 1 56 1 1 2
18Micr osoft Un ited States Technology 3 8 % 7 03 5 09
19TSMC Ta iwan Technology 3 7 % 2 20 1 61
20A bbott Laboratories Un ited States Hea lth Care 3 6 % 1 05 77
18
The risers –The 20 Global Top 100 companies
with the largest relative increase in market cap
Source: Bloomberg and PwC analysis
Com pa ny name Loca t ion In du stry
Ch a nge in
m a rket cap
2017-2018($ bn)
Ma r ket cap
2018 ($bn)
Ma r ket cap
2017 ($bn)
1 NV IDIA Un ited States Technology 1 1 9% 1 40 64
2 Netflix Un ited States Con sumer Services 1 0 0% 1 28 64
3 Kw eichow Moutai Ch ina Con sumer Goods 9 3 % 1 37 71
4 Dow Du Pont Un ited States Ba sic Ma terials 9 2 % 1 48 77
5 Pin g An Insurance Ch ina Fin ancials 9 0 % 1 90 1 0 0
6 Ten cent Ch ina Technology 8 2 % 4 96 2 7 2
7 Boein g Un ited States In du strials 7 9% 1 93 1 08
8 A libaba Ch ina Con sumer Services 7 5% 4 7 0 2 69
9 A m azon.com Un ited States Con sumer Services 66% 7 01 4 23
10A dobe Systems Un ited States Technology 6 5% 1 06 64
11Ch ina Merchants Ba nk Ch ina Fin ancials 64% 1 1 4 70
12Ma stercard Un ited States Fin ancials 5 2% 1 84 1 21
13A bbVie Un ited States Hea lth Care 4 5% 1 50 1 04
14In tel Un ited States Technology 4 2 % 2 43 1 7 1
15Na spers Sou th Africa Con sumer Services 4 1 % 1 07 76
16Nov o Nordisk Den m ark Hea lth Care 4 0 % 1 23 88
17LV MH Fr a nce Con sumer Goods 4 0% 1 56 1 1 2
18Micr osoft Un ited States Technology 3 8 % 7 03 5 09
19TSMC Ta iwan Technology 3 7 % 2 20 1 61
20A bbott Laboratories Un ited States Hea lth Care 3 6 % 1 05 77
18
PwC | Global Top 100 companies by market capitalisation
The fallers –The 20 Global Top 100 companies
with the largest absolute decrease in market cap
Com pa ny name Loca t ion In du stry
Ch a nge in
m a rket cap 2017-
2018 ($ bn)
Ma r ket cap
2018 ($bn)
Ma rket cap
2017 ($ bn)
Ch a nge in
r a nk
1Gen eral Electric Un ited StatesIn du strials -1 43 1 17 2 6 0 -57
2A T&T Un ited StatesTelecom munications -37 2 1 9 2 56 -9
3Ch ina Mobile Hon g Kong Telecom munications -36 1 88 2 24 -19
4Pr octer & Gamble Un ited StatesCon sumer Goods -30 2 0 0 2 30 -15
5W a lt Disney Un ited StatesCon sumer Services -28 1 51 1 7 9 -17
6Mer ck & Co Un ited StatesHea lth Care -27 1 47 1 7 4 -16
7Ex x on Mobil Un ited StatesOil & Ga s -24 3 1 6 3 4 0 -5
8W ells Fargo Un ited StatesFin ancials -23 2 56 2 7 9 -8
9IBM Un ited StatesTechnology -23 1 41 1 64 -13
10Roch e Sw itzerland Hea lth Care -22 1 98 2 20 -13
11A ltria Group Un ited StatesCon sumer Goods -21 1 1 8 1 39 -18
12Ph ilip Morris In ternational Un ited StatesCon sumer Goods -20 1 55 1 7 5 -12
13Com cast Un ited StatesCon sumer Services -19 1 59 1 7 8 -12
14Sa n ofi Fr a nce Hea lth Care -16 1 01 1 17 -33
15Com m onwealth Bank of AustraliaA u stralia Fin ancials -15 98 1 1 3 -37
16In du stria De Diseno Spa in Fin ancials -13 97 1 1 0 -32
17Siem ens Germ any In du strials -9 1 08 1 17 -18
18Gla xoSmithKline Un ited KingdomCon sumer Services -5 97 1 02 -26
19PepsiCo Un ited StatesCon sumer Goods -5 1 55 1 60 -3
20V erizon Com munications Un ited StatesTelecom munications -2 1 97 1 99 -6
Source: Bloomberg and PwC analysis
19
The fallers –The 20 Global Top 100 companies
with the largest absolute decrease in market cap
Com pa ny name Loca t ion In du stry
Ch a nge in
m a rket cap 2017-
2018 ($ bn)
Ma r ket cap
2018 ($bn)
Ma rket cap
2017 ($ bn)
Ch a nge in
r a nk
1Gen eral Electric Un ited StatesIn du strials -1 43 1 17 2 6 0 -57
2A T&T Un ited StatesTelecom munications -37 2 1 9 2 56 -9
3Ch ina Mobile Hon g Kong Telecom munications -36 1 88 2 24 -19
4Pr octer & Gamble Un ited StatesCon sumer Goods -30 2 0 0 2 30 -15
5W a lt Disney Un ited StatesCon sumer Services -28 1 51 1 7 9 -17
6Mer ck & Co Un ited StatesHea lth Care -27 1 47 1 7 4 -16
7Ex x on Mobil Un ited StatesOil & Ga s -24 3 1 6 3 4 0 -5
8W ells Fargo Un ited StatesFin ancials -23 2 56 2 7 9 -8
9IBM Un ited StatesTechnology -23 1 41 1 64 -13
10Roch e Sw itzerland Hea lth Care -22 1 98 2 20 -13
11A ltria Group Un ited StatesCon sumer Goods -21 1 1 8 1 39 -18
12Ph ilip Morris In ternational Un ited StatesCon sumer Goods -20 1 55 1 7 5 -12
13Com cast Un ited StatesCon sumer Services -19 1 59 1 7 8 -12
14Sa n ofi Fr a nce Hea lth Care -16 1 01 1 17 -33
15Com m onwealth Bank of AustraliaA u stralia Fin ancials -15 98 1 1 3 -37
16In du stria De Diseno Spa in Fin ancials -13 97 1 1 0 -32
17Siem ens Germ any In du strials -9 1 08 1 17 -18
18Gla xoSmithKline Un ited KingdomCon sumer Services -5 97 1 02 -26
19PepsiCo Un ited StatesCon sumer Goods -5 1 55 1 60 -3
20V erizon Com munications Un ited StatesTelecom munications -2 1 97 1 99 -6
Source: Bloomberg and PwC analysis
19
PwC | Global Top 100 companies by market capitalisation
Industry comparison
In du stry
Ma r ket cap
2018 ($ bn)
Nu mber of
com panies2018
Ch a ngein market ca p
of cu r r ent T op 100 2017-
2018
In du stry index
per formance 2017-
2018
(1)
In dex
ou t performance
1Technology 4 ,806 15 2 7 % 2 8 %6Un derperformed
2Fin ancials 4 ,421 23 2 0 % 1 4%5Ou tperformed
3Con sumer Goods 2 ,827 17 9% 9%A ligned
4Con sumer Services 2 ,507 11 3 3% 1 9%5Ou tperformed
5Hea lth Care 2 ,230 14 7% 8%6Un derperformed
6Oil & Ga s 1 ,416 7 9% 6%5Ou tperformed
7In du strials 9 65 8 2% 1 3%6Un derperformed
8Telecom munications 6 0 4 3 -1 1 % -4%6Un derperformed
9Ba sic Ma terials 2 59 2 5 3% 1 3%5Ou tperformed
1 ) In dustry index performance is based on the MSCI In ternational ACWI In dustry Price In dex USD
Source: Bloomberg and PwC analysis
20
Industry comparison
In du stry
Ma r ket cap
2018 ($ bn)
Nu mber of
com panies2018
Ch a ngein market ca p
of cu r r ent T op 100 2017-
2018
In du stry index
per formance 2017-
2018
(1)
In dex
ou t performance
1Technology 4 ,806 15 2 7 % 2 8 %6Un derperformed
2Fin ancials 4 ,421 23 2 0 % 1 4%5Ou tperformed
3Con sumer Goods 2 ,827 17 9% 9%A ligned
4Con sumer Services 2 ,507 11 3 3% 1 9%5Ou tperformed
5Hea lth Care 2 ,230 14 7% 8%6Un derperformed
6Oil & Ga s 1 ,416 7 9% 6%5Ou tperformed
7In du strials 9 65 8 2% 1 3%6Un derperformed
8Telecom munications 6 0 4 3 -1 1 % -4%6Un derperformed
9Ba sic Ma terials 2 59 2 5 3% 1 3%5Ou tperformed
1 ) In dustry index performance is based on the MSCI In ternational ACWI In dustry Price In dex USD
Source: Bloomberg and PwC analysis
20
21
Agenda
PwC | Global Top 100 companies by market capitalisation 21
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Valuedistributed to shareholders in
calendar year 2017
Agenda
PwC | Global Top 100 companies by market capitalisation 21
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Valuedistributed to shareholders in
calendar year 2017
PwC | Global Top 100 companies by market capitalisation
Value distributed to shareholders in calendar
year 2017
Key highlights
•Appledistributed $31bn to shareholders in dividends and share repurchases in 2017 -an increase from the $29bn
distributed in 2016.
•A total of $704bn has been distributed to shareholders by the Top 100 companies.
•US companies, representing 54 of the Top 100 companies, accounted for $476bnof the total value distribution.
•Unchanged from last year, companies in the Financialsector continued to return the highest total amount of
$183bn (2016: $153bn) to shareholders, followed by companies in the Technologysector which returned a total of
$121bn (2016: $110bn).
•Share buybacks boosted the 2.2% dividend yield to an overall of 3.5% by reference to market capitalisation.
22
Value distributed to shareholders in calendar
year 2017
Key highlights
•Appledistributed $31bn to shareholders in dividends and share repurchases in 2017 -an increase from the $29bn
distributed in 2016.
•A total of $704bn has been distributed to shareholders by the Top 100 companies.
•US companies, representing 54 of the Top 100 companies, accounted for $476bnof the total value distribution.
•Unchanged from last year, companies in the Financialsector continued to return the highest total amount of
$183bn (2016: $153bn) to shareholders, followed by companies in the Technologysector which returned a total of
$121bn (2016: $110bn).
•Share buybacks boosted the 2.2% dividend yield to an overall of 3.5% by reference to market capitalisation.
22
PwC | Global Top 100 companies by market capitalisation
Top 20 companies at 31 March 2018 with
highest value distribution in 2017
Com pany
Ma r ket cap
31 Ma rch
2018 ($ bn)
Dividends
2017
($bn)
(1)
Sh are
buyback 2017
($bn)
(1)
T otal value
distribution
2017 ($bn)
(1)
T otal value
distribution
2016 ($bn)
(2)
% of t otal
distribution
2017
Dividend as
% of market
ca p
(3)
T otal value
distribution as %
of m arket cap
(3)
A pple 8 51 13 18 31 29 4 .37% 1 .50% 3 .61%
JPMorgan Chase 37 5 9 15 24 18 3 .47% 2 .40% 6 .51%
In tel 2 43 5 18 23 8 3 .26% 2 .09% 9 .44%
Microsoft 7 03 12 10 22 26 3 .14% 1 .69% 3 .15%
Citigroup 1 7 3 4 16 20 12 2 .79% 2 .20% 1 1 .36%
W ells Fargo 2 56 9 10 19 17 2 .70% 3 .56% 7 .44%
Ba nk of America 3 07 6 13 19 9 2 .63% 1 .86% 6 .03%
Joh nson & Johnson 3 44 9 7 16 17 2 .27% 2 .60% 4 .64%
Pr octer & Gamble 2 00 7 8 16 16 2 .23% 3 .62% 7 .87%
W a lmart 2 64 6 8 14 10 2 .05% 2 .32% 5 .47%
Ex xon Mobil 31 6 13 1 14 13 1 .92% 4 .11% 4 .27%
ICBC 3 36 13 0 13 13 1 .87% 3 .93% 3 .93%
Pfizer 21 1 8 5 13 12 1 .80% 3 .63% 5 .99%
Boeing 1 93 3 9 12 10 1 .80% 1 .77% 6 .57%
A T&T 21 9 12 1 13 12 1 .79% 5 .50% 5 .75%
General Electric 1 17 9 4 12 31 1 .77% 7 .39% 1 0.62%
Toy ota 21 0 6 6 12 12 1 .75% 2 .80% 5 .89%
Hom e Depot 2 06 4 8 12 10 1 .75% 2 .04% 5 .96%
W a lt Disney 1 51 2 9 11 10 1 .68% 1 .62% 7 .84%
Roy al Dutch Shell 2 63 11 0 11 10 1 .54% 4 .13% 4 .13%
(1)Actual pay ment in calendar year 2017
(2)Actual pay ment in calendar year 2016
(3)Market cap as at 31 March 2018
* 2017 and 2016 numbers are of those companies in the Global Top 100 at 31 March 2018
Source: Bloomberg and PwC analysis
23
Top 20 companies at 31 March 2018 with
highest value distribution in 2017
Com pany
Ma r ket cap
31 Ma rch
2018 ($ bn)
Dividends
2017
($bn)
(1)
Sh are
buyback 2017
($bn)
(1)
T otal value
distribution
2017 ($bn)
(1)
T otal value
distribution
2016 ($bn)
(2)
% of t otal
distribution
2017
Dividend as
% of market
ca p
(3)
T otal value
distribution as %
of m arket cap
(3)
A pple 8 51 13 18 31 29 4 .37% 1 .50% 3 .61%
JPMorgan Chase 37 5 9 15 24 18 3 .47% 2 .40% 6 .51%
In tel 2 43 5 18 23 8 3 .26% 2 .09% 9 .44%
Microsoft 7 03 12 10 22 26 3 .14% 1 .69% 3 .15%
Citigroup 1 7 3 4 16 20 12 2 .79% 2 .20% 1 1 .36%
W ells Fargo 2 56 9 10 19 17 2 .70% 3 .56% 7 .44%
Ba nk of America 3 07 6 13 19 9 2 .63% 1 .86% 6 .03%
Joh nson & Johnson 3 44 9 7 16 17 2 .27% 2 .60% 4 .64%
Pr octer & Gamble 2 00 7 8 16 16 2 .23% 3 .62% 7 .87%
W a lmart 2 64 6 8 14 10 2 .05% 2 .32% 5 .47%
Ex xon Mobil 31 6 13 1 14 13 1 .92% 4 .11% 4 .27%
ICBC 3 36 13 0 13 13 1 .87% 3 .93% 3 .93%
Pfizer 21 1 8 5 13 12 1 .80% 3 .63% 5 .99%
Boeing 1 93 3 9 12 10 1 .80% 1 .77% 6 .57%
A T&T 21 9 12 1 13 12 1 .79% 5 .50% 5 .75%
General Electric 1 17 9 4 12 31 1 .77% 7 .39% 1 0.62%
Toy ota 21 0 6 6 12 12 1 .75% 2 .80% 5 .89%
Hom e Depot 2 06 4 8 12 10 1 .75% 2 .04% 5 .96%
W a lt Disney 1 51 2 9 11 10 1 .68% 1 .62% 7 .84%
Roy al Dutch Shell 2 63 11 0 11 10 1 .54% 4 .13% 4 .13%
(1)Actual pay ment in calendar year 2017
(2)Actual pay ment in calendar year 2016
(3)Market cap as at 31 March 2018
* 2017 and 2016 numbers are of those companies in the Global Top 100 at 31 March 2018
Source: Bloomberg and PwC analysis
23
PwC | Global Top 100 companies by market capitalisation
Value distribution by location in calendar year
2017
Location
Number of
com panies
Ma r ket cap
31 Ma rch
2018 ($ bn)
Dividends
2017
($bn)
(1)
Sh are
buyback
2017 ($bn)
(1)
T otal value
distribution
2017 ($bn)
(1)
T otal value
distribution
2016 ($bn)
(2)
% of t otal
distribution
2017
Dividend
a s % of
m arket
ca p
(3)
T otal value
distribution as
% of market
ca p
(3)
Un ited States 54 1 2,187 2 30 2 46 47 6 4 63 67 .6% 2 .2% 4 .4%
Ch ina 12 2 ,822 58 0 58 52 8 .2% 2 .4% 2 .4%
United Kingdom 5 8 1 4 31 0 31 34 4 .5% 3 .5% 3 .6%
Sw itzerland 3 6 55 21 4 25 21 3 .5% 3 .2% 3 .7%
Fr ance 4 5 32 11 3 14 17 2 .0% 2 .3% 2 .9%
Ja pan 1 21 0 6 6 12 12 1 .8% 2 .8% 5 .9%
Germany 4 4 37 11 1 12 10 1 .7% 2 .5% 2 .3%
Netherlands 1 1 65 5 6 11 5 1 .5% 3 .0% 6 .4%
Ir eland 2 21 2 4 6 10 9 1 .4% 1 .9% 4 .8%
Belgium 1 2 22 9 0 9 8 1 .3% 4 .2% 4 .2%
Hong Kong 2 2 90 8 0 8 8 1 .2% 2 .6% 2 .6%
Canada 2 21 6 7 0 8 7 1 .1% 3 .4% 3 .5%
A ustralia 2 2 09 8 0 8 8 1 .1% 3 .7% 5 .8%
South Korea 1 2 98 6 0 6 3 0 .9% 2 .0% 2 .0%
Ta iwan 1 2 20 6 0 6 5 0 .8% 2 .7% 2 .7%
Spain 2 2 02 5 0 5 4 0.7 % 2 .5% 2 .5%
Denm ark 1 1 23 3 0 3 4 0 .4% 2 .3% 2 .3%
Br a zil 1 114 3 0 3 3 0 .4% 2 .4% 2 .4%
South Africa 1 1 07 0 0 0 0 0.0% 0.2% 0.2%
T otal 100 20,035 432 272 704 673 100% - -
(1)Actual pay ment in calendar year 2017
(2)Actual pay ment in calendar year 2016
(3)Market cap as at 31 March 2018
* 2017 and 2016 numbers are of those companies in the Global Top 100 at 31 March 2018
Source: Bloomberg and PwC analysis
24
Value distribution by location in calendar year
2017
Location
Number of
com panies
Ma r ket cap
31 Ma rch
2018 ($ bn)
Dividends
2017
($bn)
(1)
Sh are
buyback
2017 ($bn)
(1)
T otal value
distribution
2017 ($bn)
(1)
T otal value
distribution
2016 ($bn)
(2)
% of t otal
distribution
2017
Dividend
a s % of
m arket
ca p
(3)
T otal value
distribution as
% of market
ca p
(3)
Un ited States 54 1 2,187 2 30 2 46 47 6 4 63 67 .6% 2 .2% 4 .4%
Ch ina 12 2 ,822 58 0 58 52 8 .2% 2 .4% 2 .4%
United Kingdom 5 8 1 4 31 0 31 34 4 .5% 3 .5% 3 .6%
Sw itzerland 3 6 55 21 4 25 21 3 .5% 3 .2% 3 .7%
Fr ance 4 5 32 11 3 14 17 2 .0% 2 .3% 2 .9%
Ja pan 1 21 0 6 6 12 12 1 .8% 2 .8% 5 .9%
Germany 4 4 37 11 1 12 10 1 .7% 2 .5% 2 .3%
Netherlands 1 1 65 5 6 11 5 1 .5% 3 .0% 6 .4%
Ir eland 2 21 2 4 6 10 9 1 .4% 1 .9% 4 .8%
Belgium 1 2 22 9 0 9 8 1 .3% 4 .2% 4 .2%
Hong Kong 2 2 90 8 0 8 8 1 .2% 2 .6% 2 .6%
Canada 2 21 6 7 0 8 7 1 .1% 3 .4% 3 .5%
A ustralia 2 2 09 8 0 8 8 1 .1% 3 .7% 5 .8%
South Korea 1 2 98 6 0 6 3 0 .9% 2 .0% 2 .0%
Ta iwan 1 2 20 6 0 6 5 0 .8% 2 .7% 2 .7%
Spain 2 2 02 5 0 5 4 0.7 % 2 .5% 2 .5%
Denm ark 1 1 23 3 0 3 4 0 .4% 2 .3% 2 .3%
Br a zil 1 114 3 0 3 3 0 .4% 2 .4% 2 .4%
South Africa 1 1 07 0 0 0 0 0.0% 0.2% 0.2%
T otal 100 20,035 432 272 704 673 100% - -
(1)Actual pay ment in calendar year 2017
(2)Actual pay ment in calendar year 2016
(3)Market cap as at 31 March 2018
* 2017 and 2016 numbers are of those companies in the Global Top 100 at 31 March 2018
Source: Bloomberg and PwC analysis
24
PwC | Global Top 100 companies by market capitalisation
Value distribution by sector in calendar
year2017
In dustry
Number of
com panies
Ma r ket cap
31 Ma rch
2018 ($ bn)
Dividends
2017
($bn)
(1)
Sh are
buyback
2017
($bn)
(1)
T otal value
distribution
2017 ($bn)
(1)
T otal value
distribution
2016 ($bn)
(2)
% of t otal
distribution
2017
Dividend as
% of market
ca p
(3)
T otal value
distribution as
% of market
ca p
(3)
Technology 15 4 ,806 54 67 1 21 110 1 7 .25% 1 .33% 2 .83%
Financials 23 4 ,421 111 72 1 83 1 53 2 5.97% 2 .69% 4 .13%
Con sumer Goods 17 2 ,827 78 36 114 98 1 6.29% 2 .68% 3 .93%
Con sumer Services 11 2 ,507 20 37 57 60 8 .1 2% 1 .00% 3 .02%
Health Care 14 2 ,230 62 30 93 1 04 1 3.13% 2 .79% 4 .16%
Oil & Gas 7 1 ,416 49 1 50 45 7 .02% 3 .38% 3 .44%
In dustrials 8 9 65 26 27 53 70 7 .53% 2 .72% 5 .36%
Telecommunications 3 6 04 28 1 29 29 4 .14% 4 .69% 4 .77%
Ba sic Materials 2 2 59 3 1 4 4 0 .56% 2 .63% 3 .30%
T otal 100 20,035 432 272 704 673 100% - -
(1)Actual pay ment in calendar year 2017
(2)Actual pay ment in calendar year 2016
(3)Market cap as at 31 March 2018
* 2017 and 2016 numbers are of those companies in the Global Top 100 at 31 March 2018
Source: Bloomberg and PwC analysis
25
Value distribution by sector in calendar
year2017
In dustry
Number of
com panies
Ma r ket cap
31 Ma rch
2018 ($ bn)
Dividends
2017
($bn)
(1)
Sh are
buyback
2017
($bn)
(1)
T otal value
distribution
2017 ($bn)
(1)
T otal value
distribution
2016 ($bn)
(2)
% of t otal
distribution
2017
Dividend as
% of market
ca p
(3)
T otal value
distribution as
% of market
ca p
(3)
Technology 15 4 ,806 54 67 1 21 110 1 7 .25% 1 .33% 2 .83%
Financials 23 4 ,421 111 72 1 83 1 53 2 5.97% 2 .69% 4 .13%
Con sumer Goods 17 2 ,827 78 36 114 98 1 6.29% 2 .68% 3 .93%
Con sumer Services 11 2 ,507 20 37 57 60 8 .1 2% 1 .00% 3 .02%
Health Care 14 2 ,230 62 30 93 1 04 1 3.13% 2 .79% 4 .16%
Oil & Gas 7 1 ,416 49 1 50 45 7 .02% 3 .38% 3 .44%
In dustrials 8 9 65 26 27 53 70 7 .53% 2 .72% 5 .36%
Telecommunications 3 6 04 28 1 29 29 4 .14% 4 .69% 4 .77%
Ba sic Materials 2 2 59 3 1 4 4 0 .56% 2 .63% 3 .30%
T otal 100 20,035 432 272 704 673 100% - -
(1)Actual pay ment in calendar year 2017
(2)Actual pay ment in calendar year 2016
(3)Market cap as at 31 March 2018
* 2017 and 2016 numbers are of those companies in the Global Top 100 at 31 March 2018
Source: Bloomberg and PwC analysis
25
26
Agenda
PwC | Global Top 100 companies by market capitalisation 26
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Post-financial crisis comparison
2018 vs. 2009
Agenda
PwC | Global Top 100 companies by market capitalisation 26
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Post-financial crisis comparison
2018 vs. 2009
PwC | Global Top 100 companies by market capitalisation
The movements
Key highlights
•61companies from the 2009 Top 100 survived to be in the list at 31 March 2018.
•Threecompanies entered the Global Top 100 by IPOs and one by spin-off.IPOs: Alibaba (2014), Facebook
(2012) and Agricultural Bank of China (2011). Spin-off: AbbVie (2013).
•The two main risers since 2009 are Technology companies -Apple and Alphabet. Facebook (based on value
increase since IPO) and Amazon.com come next, though the latter’s status as an e-retailer classifies it within
Consumer Services. All are US companies.
•In fifth place is Tencent, the Chinese technology company. Tencent’smarket cap has increased by $483bn (2161%),
from $13bn at 31 March 2009 to $496bn at 31 March 2018.
•The threshold to enter the Global Top 100 in 2018 was $97bn market cap. In 2009, $40bn was sufficient.
27
The movements
Key highlights
•61companies from the 2009 Top 100 survived to be in the list at 31 March 2018.
•Threecompanies entered the Global Top 100 by IPOs and one by spin-off.IPOs: Alibaba (2014), Facebook
(2012) and Agricultural Bank of China (2011). Spin-off: AbbVie (2013).
•The two main risers since 2009 are Technology companies -Apple and Alphabet. Facebook (based on value
increase since IPO) and Amazon.com come next, though the latter’s status as an e-retailer classifies it within
Consumer Services. All are US companies.
•In fifth place is Tencent, the Chinese technology company. Tencent’smarket cap has increased by $483bn (2161%),
from $13bn at 31 March 2009 to $496bn at 31 March 2018.
•The threshold to enter the Global Top 100 in 2018 was $97bn market cap. In 2009, $40bn was sufficient.
27
PwC | Global Top 100 companies by market capitalisation
Spread of market capitalisationsin the Global
Top 100 as at 31 March
•7 3 companies of the Global Top 100 had a market capitalisation less than $100bn as at 31 March 2009
•Nine companies of the Global Top 100 had a market capitalisation less than $100bn as at 31 March 2018
•The average market capitalisation as at 31 March 2009 was $84bn, while the average market capitalisation as at 31 March 2018 was$200bn
Source: Bloomberg and PwC analysis
0
5
10
15
20
25
30
35
40
45
<$50bn $50bn - $75bn$75bn - $100bn$100bn -
$150bn
$150bn -
$200bn
$200bn -
$250bn
$250bn -
$300bn
>$300bn
No. of companies
Spread of companies by market cap (2018 vs. 2009)
Number of Top 100 companies in 2018
Number of Top 100 companies in 2009
28
Spread of market capitalisationsin the Global
Top 100 as at 31 March
•7 3 companies of the Global Top 100 had a market capitalisation less than $100bn as at 31 March 2009
•Nine companies of the Global Top 100 had a market capitalisation less than $100bn as at 31 March 2018
•The average market capitalisation as at 31 March 2009 was $84bn, while the average market capitalisation as at 31 March 2018 was$200bn
Source: Bloomberg and PwC analysis
0
5
10
15
20
25
30
35
40
45
<$50bn $50bn - $75bn$75bn - $100bn$100bn -
$150bn
$150bn -
$200bn
$200bn -
$250bn
$250bn -
$300bn
>$300bn
No. of companies
Spread of companies by market cap (2018 vs. 2009)
Number of Top 100 companies in 2018
Number of Top 100 companies in 2009
28
PwC | Global Top 100 companies by market capitalisation
Between 2009 and 2018 there were 54 new
entrants to the Global Top 100
6
48
4
50
0
10
20
30
40
50
60
70
80
90
100
Global Top 100 as at
31 March 2009
Acquired, merged or
separated
Dropped from the
Global Top 100
IPOs and spin-offsNew entries by
growth and M&A
Global Top 100 as at
31 March 2018
Number of companies
Source: Bloomberg and PwC analysis
29
Between 2009 and 2018 there were 54 new
entrants to the Global Top 100
6
48
4
50
0
10
20
30
40
50
60
70
80
90
100
Global Top 100 as at
31 March 2009
Acquired, merged or
separated
Dropped from the
Global Top 100
IPOs and spin-offsNew entries by
growth and M&A
Global Top 100 as at
31 March 2018
Number of companies
Source: Bloomberg and PwC analysis
29
PwC | Global Top 100 companies by market capitalisation
Between 2009 and 2018 the total market cap of
the Global Top 100 increased by $11,632bn
8,403
418
3,428
953
5,803
6,075 20,035
0
5,000
10,000
15,000
20,000
25,000
Global Top 100 as
at 31 March 2009
6 acquired,
merged or
separated*
48 dropped from
the Global Top
100*
4 IPOs and spin-
off
50 new entries by
growth and M&A
61 survivors'
growth
Global Top 100 as
at 31 March 2018
T otal market cap ($bn)
* Market cap at 31 March 2017
Source: Bloomberg and PwC analysis
30
Between 2009 and 2018 the total market cap of
the Global Top 100 increased by $11,632bn
8,403
418
3,428
953
5,803
6,075 20,035
0
5,000
10,000
15,000
20,000
25,000
Global Top 100 as
at 31 March 2009
6 acquired,
merged or
separated*
48 dropped from
the Global Top
100*
4 IPOs and spin-
off
50 new entries by
growth and M&A
61 survivors'
growth
Global Top 100 as
at 31 March 2018
T otal market cap ($bn)
* Market cap at 31 March 2017
Source: Bloomberg and PwC analysis
30
PwC | Global Top 100 companies by market capitalisation
Global Top 100 companies per location –absolute
market capitalisationchange 2018 vs. 2009
Loca t ion
Ch a ngein market ca p of t he
cu r rent Top 100 ($bn)
T op 100 2018 T op 100 2009
Ra n k
Ma r ket cap
($ bn)# com panies
Ma r ket cap 2009
($ bn)
(1) Ra n k
Ma r ket cap
($ bn)# com panies
Un i ted States 8,563 1 12,187 54 3,624 1 3,805 42
Ch i n a 1,797 2 2,822 12 1,025 2 1,061 9
Un i ted Ki ngdom 343 3 814 5 471 3 715 9
Swi tzerland 308 4 655 3 347 8 347 3
Fran ce 269 5 532 4 263 4 481 7
Germ any 207 6 437 4 230 6 299 5
Sou th Korea 237 7 298 1 61 21 61 1
Hon g Kon g 115 8 290 2 175 9 219 2
Bel gium 178 9 222 1 44 13 44 1
Tai wan 181 10 220 1 39 - - -
Can ada 146 11 216 2 70 12 41 1
Irel and 159 12 212 2 53 - - -
Japan 102 13 210 1 108 5 366 6
A u stralia 55 14 209 2 154 12 118 1
Spai n 122 15 202 2 80 11 149 2
N eth erlands 107 16 165 1 58 19 59 1
Den m ark 93 17 123 1 30 - - -
Brazil 87 18 114 1 27 7 234 3
Sou th Africa 100 19 107 1 7 - - -
Ru ssia 0 - 0 0 0 10 134 2
Ital y 0 - 0 0 0 17 77 1
N orway 0 - 0 0 0 20 56 1
In di a 0 - 0 0 0 16 47 1
Mexi co 0 - 0 0 0 18 45 1
Fi n l and 0 - 0 0 0 15 44 1
(1) Market cap of companies at 31 March 2009 in the Global Top 100 at 31 March 2018 Source: Bloomberg and PwC analysis
31
Global Top 100 companies per location –absolute
market capitalisationchange 2018 vs. 2009
Loca t ion
Ch a ngein market ca p of t he
cu r rent Top 100 ($bn)
T op 100 2018 T op 100 2009
Ra n k
Ma r ket cap
($ bn)# com panies
Ma r ket cap 2009
($ bn)
(1) Ra n k
Ma r ket cap
($ bn)# com panies
Un i ted States 8,563 1 12,187 54 3,624 1 3,805 42
Ch i n a 1,797 2 2,822 12 1,025 2 1,061 9
Un i ted Ki ngdom 343 3 814 5 471 3 715 9
Swi tzerland 308 4 655 3 347 8 347 3
Fran ce 269 5 532 4 263 4 481 7
Germ any 207 6 437 4 230 6 299 5
Sou th Korea 237 7 298 1 61 21 61 1
Hon g Kon g 115 8 290 2 175 9 219 2
Bel gium 178 9 222 1 44 13 44 1
Tai wan 181 10 220 1 39 - - -
Can ada 146 11 216 2 70 12 41 1
Irel and 159 12 212 2 53 - - -
Japan 102 13 210 1 108 5 366 6
A u stralia 55 14 209 2 154 12 118 1
Spai n 122 15 202 2 80 11 149 2
N eth erlands 107 16 165 1 58 19 59 1
Den m ark 93 17 123 1 30 - - -
Brazil 87 18 114 1 27 7 234 3
Sou th Africa 100 19 107 1 7 - - -
Ru ssia 0 - 0 0 0 10 134 2
Ital y 0 - 0 0 0 17 77 1
N orway 0 - 0 0 0 20 56 1
In di a 0 - 0 0 0 16 47 1
Mexi co 0 - 0 0 0 18 45 1
Fi n l and 0 - 0 0 0 15 44 1
(1) Market cap of companies at 31 March 2009 in the Global Top 100 at 31 March 2018 Source: Bloomberg and PwC analysis
31
PwC | Global Top 100 companies by market capitalisation
Global Top 100 companies per location –relative
market capitalisationchange 2018 vs. 2009
Loca t ion
% m a rket cap change
2009-2018
% in dex change
2009-2018*
T op 100 v s. National
in dex performance
2018 2009
Ma r ket cap of current
T op 100 ($ bn)
Ma r ket cap of current
T op 100 ($ bn)
Un ited States 2 36% 2 31%5Ou tperformed 1 2,187 3 ,624
Ch ina 1 7 5% 5 5%5Ou tperformed 2 ,822 1 ,025
Un ited Kingdom 7 3% 8 0 %6Un derperformed 8 1 4 4 7 1
Sw itzerland 8 9 % 77%5Ou tperformed 6 55 3 47
Fr a nce 1 02% 8 4 %5Ou tperformed 5 32 2 63
Germ any 9 0% 1 96%6Un derperformed 4 37 2 30
Sou th Korea 3 89% 1 03%5Ou tperformed 2 98 61
Hon g Kong 66% 1 22%6Un derperformed 2 9 0 1 7 5
Belg ium 4 05% 1 21%5Ou tperformed 2 22 44
Ta iwan 4 64% 1 1 0%5Ou tperformed 2 20 39
Ca nada 2 0 9% 7 6%5Ou tperformed 2 1 6 70
Ir eland 3 0 0% 2 01 %5Ou tperformed 2 1 2 53
Ja pan 94% 1 65%6Un derperformed 2 1 0 1 08
A u stralia 3 6 % 6 1 %6Un derperformed 2 0 9 1 54
Spa in 1 53% 2 3%5Ou tperformed 2 02 80
Neth erlands 1 84% 1 44%5Ou tperformed 1 65 58
Den m ark 3 1 0% 3 8 8%6Un derperformed 1 23 30
Br a zil 3 22% 1 55%5Ou tperformed 1 1 4 27
Sou th Africa 1 429% 1 65%5Ou tperformed 1 07 7
Source: Bloomberg and PwC analysis
* Price change of the local main index per location
32
Global Top 100 companies per location –relative
market capitalisationchange 2018 vs. 2009
Loca t ion
% m a rket cap change
2009-2018
% in dex change
2009-2018*
T op 100 v s. National
in dex performance
2018 2009
Ma r ket cap of current
T op 100 ($ bn)
Ma r ket cap of current
T op 100 ($ bn)
Un ited States 2 36% 2 31%5Ou tperformed 1 2,187 3 ,624
Ch ina 1 7 5% 5 5%5Ou tperformed 2 ,822 1 ,025
Un ited Kingdom 7 3% 8 0 %6Un derperformed 8 1 4 4 7 1
Sw itzerland 8 9 % 77%5Ou tperformed 6 55 3 47
Fr a nce 1 02% 8 4 %5Ou tperformed 5 32 2 63
Germ any 9 0% 1 96%6Un derperformed 4 37 2 30
Sou th Korea 3 89% 1 03%5Ou tperformed 2 98 61
Hon g Kong 66% 1 22%6Un derperformed 2 9 0 1 7 5
Belg ium 4 05% 1 21%5Ou tperformed 2 22 44
Ta iwan 4 64% 1 1 0%5Ou tperformed 2 20 39
Ca nada 2 0 9% 7 6%5Ou tperformed 2 1 6 70
Ir eland 3 0 0% 2 01 %5Ou tperformed 2 1 2 53
Ja pan 94% 1 65%6Un derperformed 2 1 0 1 08
A u stralia 3 6 % 6 1 %6Un derperformed 2 0 9 1 54
Spa in 1 53% 2 3%5Ou tperformed 2 02 80
Neth erlands 1 84% 1 44%5Ou tperformed 1 65 58
Den m ark 3 1 0% 3 8 8%6Un derperformed 1 23 30
Br a zil 3 22% 1 55%5Ou tperformed 1 1 4 27
Sou th Africa 1 429% 1 65%5Ou tperformed 1 07 7
Source: Bloomberg and PwC analysis
* Price change of the local main index per location
32
PwC | Global Top 100 companies by market capitalisation
The risers –The 20 Global Top 100 companies with the
largest absolute increase in market cap 2018 vs. 2009
Com pa ny name Loca t ion In du stry
Ch a nge in
m a rket cap 2009-
2018 ($ bn)
Ma r ket cap
2018 ($ bn)
Ma r ket cap
2009 ($ bn)
1 A pple Un ited States Technology 7 57 8 51 94
2 A m azon.Com Un ited States Con sumer Services 6 7 0 7 01 31
3 A lphabet Un ited States Technology 6 09 7 1 9 1 1 0
4 Micr osoft Corp Un ited States Technology 5 40 7 03 1 63
5 Ten cent Holdings Ch ina Technology 4 83 4 96 13
6 Fa cebook Un ited States Technology 3 83
(1)
4 64 81
(2)
7 Ber kshire Hathaway Un ited States Fin ancials 3 58 4 92 1 34
8 A libaba Ch ina Con sumer Services 3 02
(1)
4 7 0 1 68
(2)
9 JPMor g an Chase Un ited States Fin ancials 2 7 5 3 7 5 1 0 0
10 Ba n k of America Un ited States Fin ancials 2 63 3 07 44
11 Sa m sung Electronics Sou th Korea Con sumer Goods 2 37 2 98 61
12 V isa Un ited States Fin ancials 2 04 2 46 42
13 Joh n son & Johnson Un ited States Hea lth Care 1 99 3 44 1 45
14 W ells Fargo Un ited States Fin ancials 1 96 2 56 60
15 Un itedHealth Group Un ited States Hea lth Care 1 82 2 07 25
16 Ta iwan Sem iconductor Ta iwan Technology 1 81 2 20 39
17 A n heuser-Busch In bev Belg ium Con sumer Goods 1 7 8 2 22 44
18 Boein g Un ited States In du strials 1 67 1 93 26
19 Hom e Depot Un ited States Con sumer Services 1 67 2 06 39
20 Ma stercard Un ited States Fin ancials 1 62 1 84 22
Source: Bloomberg and PwC analysis
(1)Change in market cap from IPO date
(2)Market cap at IPO date
33
The risers –The 20 Global Top 100 companies with the
largest absolute increase in market cap 2018 vs. 2009
Com pa ny name Loca t ion In du stry
Ch a nge in
m a rket cap 2009-
2018 ($ bn)
Ma r ket cap
2018 ($ bn)
Ma r ket cap
2009 ($ bn)
1 A pple Un ited States Technology 7 57 8 51 94
2 A m azon.Com Un ited States Con sumer Services 6 7 0 7 01 31
3 A lphabet Un ited States Technology 6 09 7 1 9 1 1 0
4 Micr osoft Corp Un ited States Technology 5 40 7 03 1 63
5 Ten cent Holdings Ch ina Technology 4 83 4 96 13
6 Fa cebook Un ited States Technology 3 83
(1)
4 64 81
(2)
7 Ber kshire Hathaway Un ited States Fin ancials 3 58 4 92 1 34
8 A libaba Ch ina Con sumer Services 3 02
(1)
4 7 0 1 68
(2)
9 JPMor g an Chase Un ited States Fin ancials 2 7 5 3 7 5 1 0 0
10 Ba n k of America Un ited States Fin ancials 2 63 3 07 44
11 Sa m sung Electronics Sou th Korea Con sumer Goods 2 37 2 98 61
12 V isa Un ited States Fin ancials 2 04 2 46 42
13 Joh n son & Johnson Un ited States Hea lth Care 1 99 3 44 1 45
14 W ells Fargo Un ited States Fin ancials 1 96 2 56 60
15 Un itedHealth Group Un ited States Hea lth Care 1 82 2 07 25
16 Ta iwan Sem iconductor Ta iwan Technology 1 81 2 20 39
17 A n heuser-Busch In bev Belg ium Con sumer Goods 1 7 8 2 22 44
18 Boein g Un ited States In du strials 1 67 1 93 26
19 Hom e Depot Un ited States Con sumer Services 1 67 2 06 39
20 Ma stercard Un ited States Fin ancials 1 62 1 84 22
Source: Bloomberg and PwC analysis
(1)Change in market cap from IPO date
(2)Market cap at IPO date
33
PwC | Global Top 100 companies by market capitalisation
The risers –The 20 Global Top 100 companies with the
largest relative increase in market cap 2018 vs. 2009
Com pa ny name Loca t ion In du stry
Ma r ketcap var.
2009-2018(% )
Ma r ket cap
2018 ($ bn)
Ma r ket cap
2009 ($ bn)
1 Net flix Un ited States Con sumer Services 4 1 67% 1 28 3
2 Ten cent Ch ina Technology 3 7 15% 4 96 13
3 Bookin g Holdings Un ited States Con sumer Services 3 233% 1 00 3
4 NV IDIA Un ited States Technology 2 7 00% 1 40 5
5 A m azon.com Un ited States Con sumer Services 2 1 61% 7 01 31
6 Dow Du Pont Un ited States Ba sic Ma terials 1 7 50% 1 48 8
7 Na spers Sou th Africa Con sumer Services 1 429% 1 07 7
8 Cit igroup Un ited States Fin ancials 1 1 36% 1 7 3 14
9 A dobe Un ited States Technology 8 6 4% 1 06 11
10 A pple Un ited States Technology 8 05% 8 51 94
11 Kw eichow Moutai Ch ina Con sumer Goods 7 56% 1 37 16
12 Ma stercard Un ited States Fin ancials 7 36% 1 84 22
13 Un itedHealth Group Un ited States Hea lth Care 7 28% 2 07 25
14 Boein g Un ited States In du strials 6 42% 1 93 26
15 Ba n k of America Un ited States Fin ancials 5 98% 3 07 44
16 A lphabet Un ited States Technology 5 54% 7 1 9 1 1 0
17 V isa Un ited States Fin ancials 4 8 6% 2 46 42
18 Ta iwan Ta iwan Technology 4 64% 2 20 39
19 Hon ey well Un ited States In du strials 4 4 0% 1 08 20
20 Hom e Depot Un ited States Con sumer Services 4 1 5% 2 0 6 40
Source: Bloomberg and PwC analysis
34
The risers –The 20 Global Top 100 companies with the
largest relative increase in market cap 2018 vs. 2009
Com pa ny name Loca t ion In du stry
Ma r ketcap var.
2009-2018(% )
Ma r ket cap
2018 ($ bn)
Ma r ket cap
2009 ($ bn)
1 Net flix Un ited States Con sumer Services 4 1 67% 1 28 3
2 Ten cent Ch ina Technology 3 7 15% 4 96 13
3 Bookin g Holdings Un ited States Con sumer Services 3 233% 1 00 3
4 NV IDIA Un ited States Technology 2 7 00% 1 40 5
5 A m azon.com Un ited States Con sumer Services 2 1 61% 7 01 31
6 Dow Du Pont Un ited States Ba sic Ma terials 1 7 50% 1 48 8
7 Na spers Sou th Africa Con sumer Services 1 429% 1 07 7
8 Cit igroup Un ited States Fin ancials 1 1 36% 1 7 3 14
9 A dobe Un ited States Technology 8 6 4% 1 06 11
10 A pple Un ited States Technology 8 05% 8 51 94
11 Kw eichow Moutai Ch ina Con sumer Goods 7 56% 1 37 16
12 Ma stercard Un ited States Fin ancials 7 36% 1 84 22
13 Un itedHealth Group Un ited States Hea lth Care 7 28% 2 07 25
14 Boein g Un ited States In du strials 6 42% 1 93 26
15 Ba n k of America Un ited States Fin ancials 5 98% 3 07 44
16 A lphabet Un ited States Technology 5 54% 7 1 9 1 1 0
17 V isa Un ited States Fin ancials 4 8 6% 2 46 42
18 Ta iwan Ta iwan Technology 4 64% 2 20 39
19 Hon ey well Un ited States In du strials 4 4 0% 1 08 20
20 Hom e Depot Un ited States Con sumer Services 4 1 5% 2 0 6 40
Source: Bloomberg and PwC analysis
34
PwC | Global Top 100 companies by market capitalisation
The fallers –The Global Top 100 companies with a
decrease in market capitalisation2018 vs. 2009
Com pa ny name Loca t ion In du stry
Ch a nge in
m a rket cap
2009-2018($ bn)
Ma r ket cap
2018($ bn)
Ma r ket cap
2009 ($ bn)
Ch a nge in rank
2009-2018
1 Petr oChina Ch ina Oil & Ga s -75 2 1 2 2 87 -24
2 Ex x on Mobil Un ited States Oil & Ga s -21 3 1 6 3 37 -11
3 BHP Billiton A u stralia Ba sic Ma terials -7 1 1 1 1 1 8 -55
Source: Bloomberg and PwC analysis
35
The fallers –The Global Top 100 companies with a
decrease in market capitalisation2018 vs. 2009
Com pa ny name Loca t ion In du stry
Ch a nge in
m a rket cap
2009-2018($ bn)
Ma r ket cap
2018($ bn)
Ma r ket cap
2009 ($ bn)
Ch a nge in rank
2009-2018
1 Petr oChina Ch ina Oil & Ga s -75 2 1 2 2 87 -24
2 Ex x on Mobil Un ited States Oil & Ga s -21 3 1 6 3 37 -11
3 BHP Billiton A u stralia Ba sic Ma terials -7 1 1 1 1 1 8 -55
Source: Bloomberg and PwC analysis
35
PwC | Global Top 100 companies by market capitalisation
The industries
Key highlights
•Three industries show significant upward trends in their market cap: Technology (+433%), Consumer Services
(+399%), and Financials(+222%) are the leading sectors to have grown their market cap in the Top 100 since 2009,
driven by innovation and recovery from the financial crisis.
•Utilitiesindustry (four companies in 2009) has been absent from the Top 100 for six years.
36
The industries
Key highlights
•Three industries show significant upward trends in their market cap: Technology (+433%), Consumer Services
(+399%), and Financials(+222%) are the leading sectors to have grown their market cap in the Top 100 since 2009,
driven by innovation and recovery from the financial crisis.
•Utilitiesindustry (four companies in 2009) has been absent from the Top 100 for six years.
36
PwC | Global Top 100 companies by market capitalisation
Industry comparison 2018 vs. 2009
In du stry
Ma r ket cap 2018
($ bn)
Nu mber of
com panies2018
Ch a ngein market ca p
of cu r r ent T op 100
2009-2018
In du stry index
per formance
2009-2018
(1)
In dex
ou t performance
1 Technology 4 ,806 15 4 33% 3 22%5Ou tperformed
2 Fin ancials 4 ,421 23 2 22% 1 49%5Ou tperformed
3 Con sumer Goods 2 ,827 17 1 57% 2 1 0%6Un derperformed
4 Con sumer Services 2 ,507 11 3 99% 2 49%5Ou tperformed
5 Hea lth Care 2 ,230 14 1 52% 1 83%6Un derperformed
6 Oil & Ga s 1 ,416 7 1 4% 2 4 %6Un derperformed
7 In du strials 9 65 8 2 01 % 1 93%5Ou tperformed
8 Telecom munications 6 04 3 4 8 % 4 2 %5Ou tperformed
9 Ba sic Ma terials 2 59 2 1 06% 8 1 %5Ou tperformed
Source: Bloomberg and PwC analysis
(1)Industry index performance is based on the MSCI International ACWI Industry Price Index USD
37
Industry comparison 2018 vs. 2009
In du stry
Ma r ket cap 2018
($ bn)
Nu mber of
com panies2018
Ch a ngein market ca p
of cu r r ent T op 100
2009-2018
In du stry index
per formance
2009-2018
(1)
In dex
ou t performance
1 Technology 4 ,806 15 4 33% 3 22%5Ou tperformed
2 Fin ancials 4 ,421 23 2 22% 1 49%5Ou tperformed
3 Con sumer Goods 2 ,827 17 1 57% 2 1 0%6Un derperformed
4 Con sumer Services 2 ,507 11 3 99% 2 49%5Ou tperformed
5 Hea lth Care 2 ,230 14 1 52% 1 83%6Un derperformed
6 Oil & Ga s 1 ,416 7 1 4% 2 4 %6Un derperformed
7 In du strials 9 65 8 2 01 % 1 93%5Ou tperformed
8 Telecom munications 6 04 3 4 8 % 4 2 %5Ou tperformed
9 Ba sic Ma terials 2 59 2 1 06% 8 1 %5Ou tperformed
Source: Bloomberg and PwC analysis
(1)Industry index performance is based on the MSCI International ACWI Industry Price Index USD
37
38
Agenda
PwC | Global Top 100 companies by market capitalisation 38
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Complete ranking
Agenda
PwC | Global Top 100 companies by market capitalisation 38
Highlights
and trends
Year-on-year
comparison:
2018 vs. 2017
Value distributed to
shareholders in calendar
year 2017
Post-financial
crisis comparison:
2018 vs. 2009
Complete
ranking
Complete ranking
PwC | Global Top 100 companies by market capitalisation
Top 100 global companies 1-20
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
Ra n kMa r ket Ca p ($bn)Ra n kMa r ket Ca p ($bn)
A pple Un ited States Technology 32 1 8 51 33 94
A lphabet Un ited States Technology 20 2 7 1 9 22 1 1 0
Micr osoft Un ited States Technology 3 3 7 03 6 1 63
A m azon.com Un ited States Con sumer Services - 4 7 01N/A 31
Ten cent Ch ina Technology 7 5 4 96 N/A 13
Ber kshire Hathaway Un ited States Fin ancials 6 6 4 92 12 1 34
A libaba Ch ina Con sumer Services - 7 4 7 0N/A -
Fa cebook Un ited States Technology - 8 4 64 N/A -
JPMor g an Chase Un ited States Fin ancials 19 9 3 7 5 28 1 0 0
Joh n son & Johnson Un ited States Hea lth Care -2 10 3 44 8 1 45
ICBC Ch ina Fin ancials -7 11 3 36 4 1 88
Ex x on Mobil Un ited States Oil & Ga s -11 12 3 1 6 1 3 37
Ba n k of America Un ited States Fin ancials 74 13 3 07 87 44
Sa m sung Electronics Sou th Korea Con sumer Goods 39 14 2 98 53 61
Roy al Du tch Shell Un ited KingdomOil & Ga s -6 15 2 63 9 1 39
W a lm art Un ited States Con sumer Services -13 16 2 64 3 2 0 4
Ch ina Construction Bank Ch ina Fin ancials -4 17 2 59 13 1 33
W ells Fargo Un ited States Fin ancials 37 18 2 56 55 60
Nestle Sw itzerland Con sumer Goods -4 19 2 46 15 1 29
V isa Un ited States Fin ancials 58 20 2 46 78 42
Source: Bloomberg and PwC analysis
39
Top 100 global companies 1-20
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
Ra n kMa r ket Ca p ($bn)Ra n kMa r ket Ca p ($bn)
A pple Un ited States Technology 32 1 8 51 33 94
A lphabet Un ited States Technology 20 2 7 1 9 22 1 1 0
Micr osoft Un ited States Technology 3 3 7 03 6 1 63
A m azon.com Un ited States Con sumer Services - 4 7 01N/A 31
Ten cent Ch ina Technology 7 5 4 96 N/A 13
Ber kshire Hathaway Un ited States Fin ancials 6 6 4 92 12 1 34
A libaba Ch ina Con sumer Services - 7 4 7 0N/A -
Fa cebook Un ited States Technology - 8 4 64 N/A -
JPMor g an Chase Un ited States Fin ancials 19 9 3 7 5 28 1 0 0
Joh n son & Johnson Un ited States Hea lth Care -2 10 3 44 8 1 45
ICBC Ch ina Fin ancials -7 11 3 36 4 1 88
Ex x on Mobil Un ited States Oil & Ga s -11 12 3 1 6 1 3 37
Ba n k of America Un ited States Fin ancials 74 13 3 07 87 44
Sa m sung Electronics Sou th Korea Con sumer Goods 39 14 2 98 53 61
Roy al Du tch Shell Un ited KingdomOil & Ga s -6 15 2 63 9 1 39
W a lm art Un ited States Con sumer Services -13 16 2 64 3 2 0 4
Ch ina Construction Bank Ch ina Fin ancials -4 17 2 59 13 1 33
W ells Fargo Un ited States Fin ancials 37 18 2 56 55 60
Nestle Sw itzerland Con sumer Goods -4 19 2 46 15 1 29
V isa Un ited States Fin ancials 58 20 2 46 78 42
Source: Bloomberg and PwC analysis
39
PwC | Global Top 100 companies by market capitalisation
Top 100 global companies 21-40
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
Ra n kMa r ket Ca p ($bn)Ra n kMa r ket Ca p ($bn)
In tel Un ited States Technology 19 21 2 43 40 84
A n heuser-Busch In Bev Belg ium Con sumer Goods 64 22 2 22 86 44
Ta iwan Sem iconductor Ta iwan Technology - 23 2 20 N/A 39
A T&T Un ited States Telecom munications -17 24 2 1 9 7 1 49
Ch ev ron Un ited States Oil & Ga s -14 25 2 1 8 11 1 35
Pet r oChina Ch ina Oil & Ga s -24 26 2 1 2 2 2 87
Nov artis Sw itzerland Hea lth Care 2 27 2 1 1 29 1 0 0
Pfizer Un ited States Hea lth Care 8 28 2 1 1 36 92
Toy ota Ja pan Con sumer Goods -6 29 2 1 0 23 1 08
Un itedHealth Group Un ited States Hea lth Care - 30 2 07 N/A 25
Cisco Sy stems Un ited States Technology -1 31 2 07 30 98
Hom e Depot Un ited States Con sumer Services - 32 2 06 N/A 40
A g ricultural Bank of ChinaCh ina Fin ancials - 33 2 02 N/A -
Pr oct er & Gamble Un ited States Con sumer Goods -24 34 2 0 0 10 1 38
Roch e Sw itzerland Hea lth Care -17 35 1 98 18 1 1 9
V erizon Com munications Un ited States Telecom munications 3 36 1 97 39 86
Boein g Un ited States In du strials - 37 1 93 N/A 26
Pin g An Insurance Ch ina Fin ancials 54 38 1 90 92 43
Ch ina Mobile Hon g Kong Telecom munications -34 39 1 88 5 1 7 5
HSBC Un ited KingdomFin ancials 3 40 1 87 43 79
Source: Bloomberg and PwC analysis
40
Top 100 global companies 21-40
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
Ra n kMa r ket Ca p ($bn)Ra n kMa r ket Ca p ($bn)
In tel Un ited States Technology 19 21 2 43 40 84
A n heuser-Busch In Bev Belg ium Con sumer Goods 64 22 2 22 86 44
Ta iwan Sem iconductor Ta iwan Technology - 23 2 20 N/A 39
A T&T Un ited States Telecom munications -17 24 2 1 9 7 1 49
Ch ev ron Un ited States Oil & Ga s -14 25 2 1 8 11 1 35
Pet r oChina Ch ina Oil & Ga s -24 26 2 1 2 2 2 87
Nov artis Sw itzerland Hea lth Care 2 27 2 1 1 29 1 0 0
Pfizer Un ited States Hea lth Care 8 28 2 1 1 36 92
Toy ota Ja pan Con sumer Goods -6 29 2 1 0 23 1 08
Un itedHealth Group Un ited States Hea lth Care - 30 2 07 N/A 25
Cisco Sy stems Un ited States Technology -1 31 2 07 30 98
Hom e Depot Un ited States Con sumer Services - 32 2 06 N/A 40
A g ricultural Bank of ChinaCh ina Fin ancials - 33 2 02 N/A -
Pr oct er & Gamble Un ited States Con sumer Goods -24 34 2 0 0 10 1 38
Roch e Sw itzerland Hea lth Care -17 35 1 98 18 1 1 9
V erizon Com munications Un ited States Telecom munications 3 36 1 97 39 86
Boein g Un ited States In du strials - 37 1 93 N/A 26
Pin g An Insurance Ch ina Fin ancials 54 38 1 90 92 43
Ch ina Mobile Hon g Kong Telecom munications -34 39 1 88 5 1 7 5
HSBC Un ited KingdomFin ancials 3 40 1 87 43 79
Source: Bloomberg and PwC analysis
40
PwC | Global Top 100 companies by market capitalisation
Top 100 global companies 41-60
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
RankMa r ket Ca p ($bn)Ra n k Ma r ket Ca p ($bn)
Or a cle Un ited StatesTechnology -4 41 1 87 37 90
Coca Cola Un ited StatesCon sumer Goods -16 42 1 85 26 1 02
Ma st ercard Un ited StatesFin ancials - 43 1 84 N/A 22
Ba n k of China Ch ina Fin ancials -23 44 1 7 8 21 1 1 5
Citigroup Un ited StatesFin ancials - 45 1 7 3 N/A 14
Un ilever Neth erlands Con sumer Goods 14 46 1 65 60 58
Com cast Un ited StatesCon sumer Services - 47 1 59 N/A 39
LV MH Fr a nce Con sumer Goods - 48 1 56 N/A 31
PepsiCo Un ited StatesCon sumer Goods -7 49 1 55 42 80
Ph ilip Morris In ternationalUn ited StatesCon sumer Goods - 50 1 55 50 71
W a lt Disney Un ited StatesCon sumer Services - 51 1 51 N/A 34
A bbVie Un ited StatesHea lth Care - 52 1 50 N/A -
Tot a l Fr a nce Oil & Ga s -33 53 1 49 20 1 17
Dow Du Pont Un ited StatesBa sic Ma terials - 54 1 48 N/A 8
Mer ck & Co Un ited StatesHea lth Care 8 55 1 47 63 56
IBM Un ited StatesTechnology -42 56 1 41 14 1 30
NV IDIA Un ited StatesTechnology - 57 1 40 N/A 5
Kw eichow Moutai Ch ina Con sumer Goods - 58 1 37 N/A 16
BP Un ited KingdomOil & Ga s -43 59 1 34 16 1 26
Br it ish American Tobacco Un ited KingdomCon sumer Goods 19 60 1 33 79 46
Source: Bloomberg and PwC analysis
41
Top 100 global companies 41-60
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
RankMa r ket Ca p ($bn)Ra n k Ma r ket Ca p ($bn)
Or a cle Un ited StatesTechnology -4 41 1 87 37 90
Coca Cola Un ited StatesCon sumer Goods -16 42 1 85 26 1 02
Ma st ercard Un ited StatesFin ancials - 43 1 84 N/A 22
Ba n k of China Ch ina Fin ancials -23 44 1 7 8 21 1 1 5
Citigroup Un ited StatesFin ancials - 45 1 7 3 N/A 14
Un ilever Neth erlands Con sumer Goods 14 46 1 65 60 58
Com cast Un ited StatesCon sumer Services - 47 1 59 N/A 39
LV MH Fr a nce Con sumer Goods - 48 1 56 N/A 31
PepsiCo Un ited StatesCon sumer Goods -7 49 1 55 42 80
Ph ilip Morris In ternationalUn ited StatesCon sumer Goods - 50 1 55 50 71
W a lt Disney Un ited StatesCon sumer Services - 51 1 51 N/A 34
A bbVie Un ited StatesHea lth Care - 52 1 50 N/A -
Tot a l Fr a nce Oil & Ga s -33 53 1 49 20 1 17
Dow Du Pont Un ited StatesBa sic Ma terials - 54 1 48 N/A 8
Mer ck & Co Un ited StatesHea lth Care 8 55 1 47 63 56
IBM Un ited StatesTechnology -42 56 1 41 14 1 30
NV IDIA Un ited StatesTechnology - 57 1 40 N/A 5
Kw eichow Moutai Ch ina Con sumer Goods - 58 1 37 N/A 16
BP Un ited KingdomOil & Ga s -43 59 1 34 16 1 26
Br it ish American Tobacco Un ited KingdomCon sumer Goods 19 60 1 33 79 46
Source: Bloomberg and PwC analysis
41
PwC | Global Top 100 companies by market capitalisation
Top 100 global companies 61-80
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
Ra n kMa r ket Ca p ($bn)Ra n k Ma r ket Ca p ($bn)
3M Un ited StatesIn du strials -45 61 1 31 16 34
SA P Germ any Technology - 62 1 29 - 44
Net flix Un ited StatesCon sumer Services - 63 1 28 - 3
L'Or eal Fr a nce Con sumer Goods - 64 1 26 - 41
McDon a lds Un ited StatesCon sumer Services - 65 1 24 - 61
Nov o Nordisk Den m ark Hea lth Care 10 66 1 23 76 30
A m gen Un ited StatesHea lth Care 28 67 1 23 95 51
Ch ina Petroleum & ChemicalCh ina Oil & Ga s - 68 1 23 - 1 02
A ltria Group Un ited StatesCon sumer Goods 27 69 1 1 8 96 33
Gen eral Electric Un ited StatesIn du strials -16 70 1 17 54 1 07
A m Bev Br a zil Con sumer Goods - 71 1 1 4 - 27
Ch ina Merchants Ba nk Ch ina Fin ancials -31 72 1 1 4 41 33
Roy al Ba nk of Canada Ca nada Fin ancials - 73 1 1 1 - 41
BHP Billiton A u stralia Ba sic Ma terials -49 74 1 1 1 25 1 1 8
Medtr onic Ir eland Hea lth Care 17 75 1 09 92 33
Siem ens Germ any In du strials -44 76 1 08 32 52
Hon ey well Un ited StatesIn du strials - 77 1 08 - 20
Nike Un ited StatesCon sumer Goods -10 78 1 08 68 23
Na spers Sou th Africa Con sumer Services - 79 1 07 - 7
A dobe Un ited StatesTechnology - 80 1 06 - 11
Source: Bloomberg and PwC analysis
42
Top 100 global companies 61-80
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
Ra n kMa r ket Ca p ($bn)Ra n k Ma r ket Ca p ($bn)
3M Un ited StatesIn du strials -45 61 1 31 16 34
SA P Germ any Technology - 62 1 29 - 44
Net flix Un ited StatesCon sumer Services - 63 1 28 - 3
L'Or eal Fr a nce Con sumer Goods - 64 1 26 - 41
McDon a lds Un ited StatesCon sumer Services - 65 1 24 - 61
Nov o Nordisk Den m ark Hea lth Care 10 66 1 23 76 30
A m gen Un ited StatesHea lth Care 28 67 1 23 95 51
Ch ina Petroleum & ChemicalCh ina Oil & Ga s - 68 1 23 - 1 02
A ltria Group Un ited StatesCon sumer Goods 27 69 1 1 8 96 33
Gen eral Electric Un ited StatesIn du strials -16 70 1 17 54 1 07
A m Bev Br a zil Con sumer Goods - 71 1 1 4 - 27
Ch ina Merchants Ba nk Ch ina Fin ancials -31 72 1 1 4 41 33
Roy al Ba nk of Canada Ca nada Fin ancials - 73 1 1 1 - 41
BHP Billiton A u stralia Ba sic Ma terials -49 74 1 1 1 25 1 1 8
Medtr onic Ir eland Hea lth Care 17 75 1 09 92 33
Siem ens Germ any In du strials -44 76 1 08 32 52
Hon ey well Un ited StatesIn du strials - 77 1 08 - 20
Nike Un ited StatesCon sumer Goods -10 78 1 08 68 23
Na spers Sou th Africa Con sumer Services - 79 1 07 - 7
A dobe Un ited StatesTechnology - 80 1 06 - 11
Source: Bloomberg and PwC analysis
42
PwC | Global Top 100 companies by market capitalisation
Top 100 global companies 81-100
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
Ra n kMa r ket Ca p ($bn) Ra n k Ma r ket Ca p ($bn)
Ch ina Life In surance Ch ina Fin ancials -49 81 1 05 32 95
Sa ntander Group Spa in Fin ancials -17 82 1 05 65 56
A bbott Laboratories Un ited States Hea lth Care -35 83 1 05 48 74
Tor onto-Dom inion Bank Ca nada Fin ancials - 84 1 04 - 29
Un ion Pacific Un ited States In du strials - 85 1 04 - 21
Br ist ol-My ers Squibb Un ited States Hea lth Care 4 86 1 03 90 43
A ccenture Ir eland In du strials - 87 1 03 - 20
A IA Group Hon g Kong Fin ancials - 88 1 02 - N/A
Tex as Instruments Un ited States Technology - 89 1 02 - 21
Sa n ofi Fr a nce Hea lth Care -43 90 1 01 47 74
Un ited Technologies Un ited States In du strials 7 91 1 01 98 40
Bookin g Holdings Un ited States Con sumer Services - 92 1 00 - 3
V olkswagen Germ any Con sumer Goods -62 93 1 0 0 31 96
A llianz Germ any Fin ancials - 94 1 0 0 - 38
Goldm an Sachs Un ited States Fin ancials -27 95 99 68 50
Gilead Sciences Un ited States Hea lth Care -2 96 98 94 42
Com m onwealth Bank of AustraliaA u stralia Fin ancials - 97 98 - -
In du stria De Diseno Textil Spa in Fin ancials - 98 97 - 24
Gla xoSmithKline Un ited KingdomCon sumer Services -57 99 97 41 81
Br oa dcom Un ited States Technology - 1 0 0 97 - N/A
Source: Bloomberg and PwC analysis
43
Top 100 global companies 81-100
Com pa ny name Loca t ion In du stry Ra n k +/- 31 Ma r ch 2018 31 Ma r ch 2009
Ra n kMa r ket Ca p ($bn) Ra n k Ma r ket Ca p ($bn)
Ch ina Life In surance Ch ina Fin ancials -49 81 1 05 32 95
Sa ntander Group Spa in Fin ancials -17 82 1 05 65 56
A bbott Laboratories Un ited States Hea lth Care -35 83 1 05 48 74
Tor onto-Dom inion Bank Ca nada Fin ancials - 84 1 04 - 29
Un ion Pacific Un ited States In du strials - 85 1 04 - 21
Br ist ol-My ers Squibb Un ited States Hea lth Care 4 86 1 03 90 43
A ccenture Ir eland In du strials - 87 1 03 - 20
A IA Group Hon g Kong Fin ancials - 88 1 02 - N/A
Tex as Instruments Un ited States Technology - 89 1 02 - 21
Sa n ofi Fr a nce Hea lth Care -43 90 1 01 47 74
Un ited Technologies Un ited States In du strials 7 91 1 01 98 40
Bookin g Holdings Un ited States Con sumer Services - 92 1 00 - 3
V olkswagen Germ any Con sumer Goods -62 93 1 0 0 31 96
A llianz Germ any Fin ancials - 94 1 0 0 - 38
Goldm an Sachs Un ited States Fin ancials -27 95 99 68 50
Gilead Sciences Un ited States Hea lth Care -2 96 98 94 42
Com m onwealth Bank of AustraliaA u stralia Fin ancials - 97 98 - -
In du stria De Diseno Textil Spa in Fin ancials - 98 97 - 24
Gla xoSmithKline Un ited KingdomCon sumer Services -57 99 97 41 81
Br oa dcom Un ited States Technology - 1 0 0 97 - N/A
Source: Bloomberg and PwC analysis
43
PwC | Global Top 100 companies by market capitalisation
The ranking methodology
Methodology
•The Global Top 100 list ranks the largest public companies by their market capitalisationin US$ as at 31 March 2018
and compares this with the Top 100 list as at 31 March 2017 and 2009
•Data source is Bloomberg, with PwC analysis
•Industry classification is based on Industry Classification Benchmark (ICB)
•Exchange Traded Funds (ETFs) and closed end funds are excluded from the analysis
•We allocated dual-listed companies as follows: BHP Billiton (AUS), Royal Dutch Shell (UK) and Unilever (NL)
•The ranking does not compensate for changes in currency exchange rates
•The distribution of value is based on dividend payments and share repurchases in the calendar year 2017
44
The ranking methodology
Methodology
•The Global Top 100 list ranks the largest public companies by their market capitalisationin US$ as at 31 March 2018
and compares this with the Top 100 list as at 31 March 2017 and 2009
•Data source is Bloomberg, with PwC analysis
•Industry classification is based on Industry Classification Benchmark (ICB)
•Exchange Traded Funds (ETFs) and closed end funds are excluded from the analysis
•We allocated dual-listed companies as follows: BHP Billiton (AUS), Royal Dutch Shell (UK) and Unilever (NL)
•The ranking does not compensate for changes in currency exchange rates
•The distribution of value is based on dividend payments and share repurchases in the calendar year 2017
44
AgendaContact
Mark Hughes
UK Capital Markets Leader
+44 773 659 9759
[email protected]
Kennedy Liu
China/Hong Kong Capital Markets Leader
Tel: +852 2289 1881
[email protected]
Ross Hunter
IPO Centre Leader
Tel: +44 780 291 8885
[email protected]
NadjaPicard
PwC Europe Capital Markets Leader
Tel: +49 211 981 2978
[email protected]
David Ethridge
US IPO Services Leader
Tel: +1 212 845 0739
[email protected]
This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the
information contained in this publication w ithout obtaining specific professional advice. No representation or w arranty (expressor implied) is given as to the
accuracy or completeness of the information contained in this publication, and, to the extent permitted by law , Pricew aterhouseCoopers LLP, its members,
employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyoneelse acting, or refraining to
act, in reliance on the information contained in this publication or for any decision based on it.
© 2018 Pw C. All rights reserved. Pw C refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the Pw C netw ork. Each
member firm is a separate legal entity. Please see w ww.pwc.com/structure for further details.
45
Mark Hughes
UK Capital Markets Leader
+44 773 659 9759
[email protected]
Kennedy Liu
China/Hong Kong Capital Markets Leader
Tel: +852 2289 1881
[email protected]
Ross Hunter
IPO Centre Leader
Tel: +44 780 291 8885
[email protected]
NadjaPicard
PwC Europe Capital Markets Leader
Tel: +49 211 981 2978
[email protected]
David Ethridge
US IPO Services Leader
Tel: +1 212 845 0739
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