The largest companies in the world in 2022
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This year was marked by uneasy macroeconomic headwinds.
Trillions of dollars were wiped out in market caps of publicly traded companies, investor confidence waned, and cost pressures weighed on consumers’ pockets.
All told, many of the world’s largest companies saw their market share plummet. Nevertheless, some companies in key sectors showed positive growth during the year.
As 2022 comes to a close, the above infographic shows the largest companies in the world, using data from Companiesmarketcap.com.
The world’s largest publicly traded companies in 2022
Today, as the world’s most valuable company, Apple ranks towering on one $2.3 trillion valuation.
Despite the 2022 technical downturn, driven by rising interest rates and slower sales, Apple maintained its top spot. This was largely due to record sales and healthy consumer demand for iPhones on the road half of its total turnover.
After Apple follows Microsoft. Unlike Apple, Microsoft experienced lower revenues during the year due to lower demand for PCs and the weighting impact of a strong US dollar. In general, about 50% of the company’s turnover takes place abroad.
As we show below, there are now only four companies left in the trillion dollar market capitalization club.
| Rank 2022 | Business | Market capitalization | Sector | Place |
|---|---|---|---|---|
| 1 | Apple | $2.3 trillion | Technology | 🇺🇸 US |
| 2 | Microsoft | $1.9 trillion | Technology | 🇺🇸 US |
| 3 | Saudi Aramco | $1.8 trillion | Energy | 🇸🇦 Saudi Arabia |
| 4 | Alphabet | $1.2 trillion | Technology | 🇺🇸 US |
| 5 | Amazon | $924 billion | Consumer Discretionary | 🇺🇸 US |
| 6 | Berkshire Hathaway | $686 billion | Finance | 🇺🇸 US |
| 7 | Tesla | $522 billion | Consumer Discretionary | 🇺🇸 US |
| 8 | UnitedHealth group | $510 billion | healthcare | 🇺🇸 US |
| 9 | Johnson & Johnson | $465 billion | healthcare | 🇺🇸 US |
| 10 | Visa | $454 billion | Industrialists | 🇺🇸 US |
| 11 | NVIDIA | $437 billion | Technology | 🇺🇸 US |
| 12 | Exxon Mobil | $437 billion | Energy | 🇺🇸 US |
| 13 | TSMC | $417 billion | Technology | 🇹🇼Taiwan |
| 14 | walmart | $399 billion | Consumer Discretionary | 🇺🇸 US |
| 15 | tencent | $397 billion | Technology | 🇨🇳 China |
| 16 | JPMorgan Chase | $394 billion | Finance | 🇺🇸 US |
| 17 | LVMH | $377 billion | Consumer Discretionary | 🇫🇷 France |
| 18 | Proctor & Gamble | $361 billion | Consumer Goods | 🇺🇸 US |
| 19 | Eli Lilly | $349 billion | healthcare | 🇺🇸 US |
| 20 | MasterCard | $344 billion | Industrialists | 🇺🇸 US |
| 21 | DIY store | $334 billion | Consumer Discretionary | 🇺🇸 US |
| 22 | Chevron | $328 billion | Energy | 🇺🇸 US |
| 23 | Nest | $322 billion | Consumer Goods | 🇨🇭 Switzerland |
| 24 | Kweichow Moutai | $313 billion | Consumer Goods | 🇨🇳 China |
| 25 | Samsung | $306 billion | Technology | 🇰🇷 South Korea |
| 26 | Meta (Facebook) | $304 billion | Technology | 🇺🇸 US |
| 27 | Pfizer | $293 billion | healthcare | 🇺🇸 US |
| 28 | AbbVie | $292 billion | healthcare | 🇺🇸 US |
| 29 | Novo Nordisk | $292 billion | healthcare | 🇩🇰 Denmark |
| 30 | Coca-Cola | $277 billion | Consumer Goods | 🇺🇸 US |
| 31 | Merck | $276 billion | healthcare | 🇺🇸 US |
| 32 | Roche | $267 billion | healthcare | 🇨🇭 Switzerland |
| 33 | bank of America | $263 billion | Finance | 🇺🇸 US |
| 34 | pepsi | $253 billion | Consumer Goods | 🇺🇸 US |
| 35 | ASML | $247 billion | Technology | 🇳🇱 The Netherlands |
| 36 | alibaba | $245 billion | Consumer Discretionary | 🇨🇳 China |
| 37 | Broadcom | $225 billion | Technology | 🇺🇸 US |
| 38 | Thermo Fisher Scientific | $223 billion | healthcare | 🇺🇸 US |
| 39 | Oracle | $219 billion | Technology | 🇺🇸 US |
| 40 | Costco | $216 billion | Consumer Discretionary | 🇺🇸 US |
| 41 | Astrazeneca | $215 billion | healthcare | 🇬🇧 United Kingdom |
| 42 | dependent industries | $214 billion | Energy | 🇮🇳 India |
| 43 | ICBC | $208 billion | Finance | 🇨🇳 China |
| 44 | McDonald’s | $203 billion | Consumer Discretionary | 🇺🇸 US |
| 45 | Cisco | $203 billion | Telecommunications | 🇺🇸 US |
| 46 | Shell | $201 billion | Energy | 🇳🇱 The Netherlands |
| 47 | danaher | $199 billion | healthcare | 🇺🇸 US |
| 48 | L’Oreal | $197 billion | Consumer Discretionary | 🇫🇷 France |
| 49 | Toyota | $197 billion | Consumer Discretionary | 🇯🇵 Japan |
| 50 | Novartis | $196 billion | healthcare | 🇨🇭 Switzerland |
| 51 | Abbott Laboratories | $109 billion | healthcare | 🇺🇸 US |
| 52 | accent | $184 billion | Industrialists | 🇮🇪 Ireland |
| 53 | T Mobile | $177 billion | Telecommunications | 🇺🇸 US |
| 54 | Nike | $175 billion | Consumer Discretionary | 🇺🇸 US |
| 55 | Walter Disney | $173 billion | Consumer Discretionary | 🇺🇸 US |
| 56 | Nextera energy | $172 billion | Utilities | 🇺🇸 US |
| 57 | Hermes | $169 billion | Consumer Discretionary | 🇫🇷 France |
| 58 | Bristol-Myers Squibb | $168 billion | healthcare | 🇺🇸 US |
| 59 | Linde | $166 billion | Basic materials | 🇬🇧 United Kingdom |
| 60 | Wells Fargo | $163 billion | Finance | 🇺🇸 US |
| 61 | Texas Instruments | $161 billion | Technology | 🇺🇸 US |
| 62 | BHP group | $160 billion | Basic materials | 🇦🇺 Australia |
| 63 | Verizon | $159 billion | Telecommunications | 🇺🇸 US |
| 64 | Phillip Morris | $159 billion | Consumer Goods | 🇺🇸 US |
| 65 | Comcast | $158 billion | Telecommunications | 🇺🇸 US |
| 66 | UPS | $158 billion | Industrialists | 🇺🇸 US |
| 67 | Adobe | $157 billion | Technology | 🇺🇸 US |
| 68 | Morgan Stanley | $154 billion | Finance | 🇺🇸 US |
| 69 | Chinese construction bank | $152 billion | Finance | 🇨🇳 China |
| 70 | TotalEnergies | $152 billion | Energy | 🇫🇷 France |
| 71 | Karl Schwab | $150 billion | Finance | 🇺🇸 US |
| 72 | Amgen | $148 billion | healthcare | 🇺🇸 US |
| 73 | Raytheon Technologies | $146 billion | Industrialists | 🇺🇸 US |
| 74 | Tata Consultancy | $146 billion | Technology | 🇮🇳 India |
| 75 | CATL | $145 billion | Consumer Discretionary | 🇨🇳 China |
| 76 | china mobile | $145 billion | Telecommunications | 🇨🇳 China |
| 77 | Honeywell | $144 billion | Industrialists | 🇺🇸 US |
| 78 | Agricultural Bank of China | $141 billion | Finance | 🇨🇳 China |
| 79 | Netflix | $140 billion | Consumer Discretionary | 🇺🇸 US |
| 80 | Meituan | $140 billion | Technology | 🇨🇳 China |
| 81 | ConocoPhillips | $139 billion | Energy | 🇺🇸 US |
| 82 | AT&T | $138 billion | Finance | 🇺🇸 US |
| 83 | CVS Health | $136 billion | healthcare | 🇺🇸 US |
| 84 | Dior | $136 billion | Consumer Discretionary | 🇫🇷 France |
| 85 | Qualcomm | $136 billion | Technology | 🇺🇸 US |
| 86 | Prosus | $135 billion | Technology | 🇳🇱 The Netherlands |
| 87 | RBC | $135 billion | Finance | 🇨🇦 Canada |
| 88 | IBM | $134 billion | Technology | 🇺🇸 US |
| 89 | Sales team | $133 billion | Technology | 🇺🇸 US |
| 90 | Union Pacific | $133 billion | Industrialists | 🇺🇸 US |
| 91 | Deere & Company | $132 billion | Industrialists | 🇺🇸 US |
| 92 | Unilever | $130 billion | Consumer Goods | 🇬🇧 United Kingdom |
| 93 | CM Bank | $130 billion | Finance | 🇨🇳 China |
| 94 | HDFC Bank | $129 billion | Finance | 🇮🇳 India |
| 95 | Elevation health | $128 billion | healthcare | 🇺🇸 US |
| 96 | AIA | $128 billion | Finance | 🇭🇰 Hong Kong |
| 97 | Lockheed Martin | $127 billion | Industrialists | 🇺🇸 US |
| 98 | Petro China | $127 billion | Energy | 🇨🇳 China |
| 99 | JUICE | $127 billion | Technology | 🇩🇪 Germany |
| 100 | from Lowe | $124 billion | Consumer Discretionary | 🇺🇸 US |
*From December 12, 2022.
Oil giant Saudi Aramco is the third largest publicly traded company in the world, at $1.8 trillion. It is also the only non-US company in the top 10.
In May, the state-owned company briefly became the world’s most valuable company as rising energy prices boosted profits. Saudi Arabia is the world’s largest exporter of oil and the country’s economy is expected to grow at 7.6% in 2022, one of the fastest in the world.
In total, 62 companies of the 100 largest are headquartered in the US, 11 in China and five in France.
Top 10 achievements in 2022
For many of the world’s largest companies, 2022 was one unforgiving year for performance.
As the chart above shows, the vast majority of the world’s titans have seen their market value plummet. Half of these companies saw a double-digit decline.
Tesla almost witnessed 70% of its market cap will be erased this year. Two main factors are behind this drop: declining demand, especially in China, and CEO Elon Musk’s volatile and risky takeover of Twitter.
On the other hand, UnitedHealth Group has seen the strongest performance among the top 10.
The company, which derives much of its revenue from employer-backed insurance plans, said recessionary effects had not yet been seen in 2022.
Largest companies in the world, by sector
Even with declining market values across the industry in 2022, technology will remain dominant.
Of the largest companies in the world, 20 are active in technology, with a combined market value of $9.2 trillion. By comparison, that’s about 31% of the market value of the 100 largest companies.
| Rank | Sector | Combined market value | Number of companies | Largest company in industry |
|---|---|---|---|---|
| 1 | 👩💻 Technology | $9.2 trillion | 20 | Apple |
| 2 | 🚗 Consumer Discretionary | $4.7 trillion | 17 | Amazon |
| 3 | 🩺 Healthcare | $4.3 trillion | 17 | UnitedHealth group |
| 4 | 🛢️ Energy | $3.4 trillion | 8 | Saudi Aramco |
| 5 | 💵 Financial matters | $3.0 trillion | 14 | Berkshire Hathaway |
| 6 | 🏭 Industrial | $1.8 trillion | 9 | Visa |
| 7 | 🥫 Consumer goods | $1.8 trillion | 7 | Proctor & Gamble |
| 8 | 📞 Telecommunications | $841 billion | 5 | Cisco |
| 9 | ⛏️ Basic materials | $326 billion | 2 | Linde |
| 10 | 🔌 Utilities | $127 billion | 1 | Nextera energy |
Companies are classified according to the FTSE Russell Industry Classification Benchmark. *From December 12, 2022.
This is followed by the consumer discretionary and healthcare sectors, with major players such as Amazon and Johnson & Johnson in their ranks.
At the other end of the spectrum are utilities, the smallest sector overall that ranks at least in the largest list of companies. NextEra Energy, the only utility in the ranking, is one of the world’s largest developers of wind and solar energy. It plans to invest up to $95 billion over the next three years greening its electricity activities.
Change of Fortune
It’s no surprise that many of the world’s largest companies are established players in global markets.
Yet there are some notable risers within the ranking compared to 2021 are UnitedHealth Group which launched from #19 in 2021 to #8 this year and NVIDIA which has risen to become the 11th largest company in the world, compared to #24 last year.
In contrast, some of the biggest losers are Meta (Facebook’s parent company) and Alibaba. Meta has dropped in the ranking from #6 in 2021 to #26 in 2022. Meanwhile, Alibaba was once the ninth largest in the world but has dropped to #36. Both companies have had significant value wiped from their market caps — about 66% and 28%, respectively — on lagging earnings.
As the year draws to a close, it remains to be seen whether the world’s largest companies will make a comeback in 2023 or face more challenging conditions ahead.