Top 20 S&P 500 companies by market cap in 1990
(as of 1/1/1990, in billions USD)1990
Top 20 market cap: 503.08
62.58Exxon Mobil
52.03IBM
44.59Loews
34.67Raytheon
28.01Bristol-Myers Squibb
27.68Merck
26.37Coca-Cola
25.40Walmart
23.01Procter & Gamble
19.81Verizon
19.77Johnson & Johnson
19.05Eli Lilly
18.65General Electric
16.86PepsiCo
15.17Walt Disney
14.47AT&T
14.383M
14.14AIG
13.68Boeing
12.76McDonald’s
Top 20 S&P 500 companies by market cap in 1991
(as of 1/1/1991, in billions USD)1991
Top 20 market cap: 530.00
64.43Exxon Mobil
61.67IBM
34.23Walmart
33.42Bristol-Myers Squibb
32.96Loews
31.42Merck
31.07Coca-Cola
29.82Procter & Gamble
29.10Raytheon
23.90Johnson & Johnson
20.50PepsiCo
19.57Eli Lilly
19.00Verizon
15.64General Electric
15.59Boeing
15.203M
13.63AIG
13.51Walt Disney
12.67Pfizer
12.67AT&T
Top 20 S&P 500 companies by market cap in 1992
(as of 1/1/1992, in billions USD)1992
Top 20 market cap: 687.82
75.61Exxon Mobil
67.62Walmart
58.13Merck
53.32Coca-Cola
48.54IBM
43.65Bristol-Myers Squibb
38.15Johnson & Johnson
35.42Loews
33.17Raytheon
31.54Procter & Gamble
26.73PepsiCo
26.26Pfizer
24.43Eli Lilly
20.63General Electric
19.72Microsoft
17.45AIG
17.22Verizon
17.10Altria Group
16.833M
16.30Boeing
Top 20 S&P 500 companies by market cap in 1993
(as of 1/1/1993, in billions USD)1993
Top 20 market cap: 670.13
75.92Exxon Mobil
73.55Walmart
54.72Coca-Cola
44.81Merck
37.57Loews
36.23Procter & Gamble
33.23Bristol-Myers Squibb
33.15PepsiCo
33.10Johnson & Johnson
29.88Raytheon
27.50IBM
25.87Microsoft
23.04Walt Disney
22.83General Electric
22.35Pfizer
20.52AIG
20.04Verizon
19.83Home Depot
18.21Intel
17.78Eli Lilly
Top 20 S&P 500 companies by market cap in 1994
(as of 1/1/1994, in billions USD)1994
Top 20 market cap: 675.27
78.40Exxon Mobil
57.90Coca-Cola
57.46Walmart
39.20Raytheon
38.90Merck
38.64Procter & Gamble
32.65PepsiCo
31.38IBM
28.85Johnson & Johnson
28.39Bristol-Myers Squibb
28.38Chevron
28.00General Electric
27.49Loews
25.92Intel
23.30AIG
23.28Verizon
23.06Microsoft
22.91Walt Disney
21.00Pfizer
20.16McDonald’s
Top 20 S&P 500 companies by market cap in 1995
(as of 1/1/1995, in billions USD)1995
Top 20 market cap: 706.09
75.42Exxon Mobil
66.32Coca-Cola
48.84Walmart
43.39Merck
42.17Procter & Gamble
41.22IBM
39.32Raytheon
35.48Microsoft
35.21Johnson & Johnson
29.08Chevron
28.73PepsiCo
28.14Bristol-Myers Squibb
27.21General Electric
26.47Intel
25.90AIG
24.78Loews
24.13Walt Disney
23.06Pfizer
20.79Home Depot
20.43McDonald’s
Top 20 S&P 500 companies by market cap in 1996
(as of 1/1/1996, in billions USD)1996
Top 20 market cap: 1,040.69
99.96Exxon Mobil
93.20Coca-Cola
72.95Merck
71.61Bank of America
58.06Raytheon
56.28Procter & Gamble
55.38Johnson & Johnson
51.05Walmart
50.94Microsoft
48.73IBM
47.05Intel
44.33Loews
41.26Bristol-Myers Squibb
40.27PepsiCo
38.34General Electric
37.97Pfizer
36.71AIG
34.16Chevron
31.42McDonald’s
31.02Eli Lilly
Top 20 S&P 500 companies by market cap in 1997
(as of 1/1/1997, in billions USD)1997
Top 20 market cap: 1,253.44
130.56Coca-Cola
121.72Exxon Mobil
107.50Intel
86.70Merck
73.51IBM
72.23Procter & Gamble
66.29Johnson & Johnson
52.19Walmart
52.03Loews
51.81Bristol-Myers Squibb
50.88General Electric
50.72Pfizer
47.08Walt Disney
42.57AIG
42.45Chevron
41.99PepsiCo
41.71Cisco Systems
41.11Berkshire Hathaway
40.63Eli Lilly
39.76Citigroup
Top 20 S&P 500 companies by market cap in 1998
(as of 1/1/1998, in billions USD)1998
Top 20 market cap: 1,911.19
164.61Coca-Cola
157.36Microsoft
150.34Exxon Mobil
149.53General Electric
114.37Intel
114.18Merck
105.77Procter & Gamble
95.69IBM
91.40Pfizer
89.48Bristol-Myers Squibb
88.61Johnson & Johnson
88.57Walmart
77.32Eli Lilly
67.07Walt Disney
63.73AIG
63.66Verizon
58.58Loews
57.90Citigroup
56.98Berkshire Hathaway
56.04Cisco Systems
Top 20 S&P 500 companies by market cap in 1999
(as of 1/1/1999, in billions USD)1999
Top 20 market cap: 2,910.37
348.11Microsoft
208.42General Electric
196.52Intel
181.07Walmart
177.55Exxon Mobil
164.88Coca-Cola
161.63IBM
157.10Merck
153.77Pfizer
145.99Cisco Systems
126.70Bristol-Myers Squibb
119.62Procter & Gamble
118.80Citigroup
112.73Johnson & Johnson
103.68Bank of America
97.44Eli Lilly
87.87Berkshire Hathaway
84.98AIG
84.22Home Depot
79.29AT&T
Top 20 S&P 500 companies by market cap in 2000
(as of 1/1/2000, in billions USD)2000
Top 20 market cap: 4,113.34
S&P 500 market cap: 12,310.00
604.41Microsoft
355.12Cisco Systems
318.01General Electric
307.88Walmart
280.12Exxon Mobil
274.43Intel
200.66Citigroup
184.06IBM
158.09Oracle
157.88Home Depot
148.93Merck
143.97Coca-Cola
142.37Procter & Gamble
140.33AIG
129.41Johnson & Johnson
124.74Qualcomm
121.06Bristol-Myers Squibb
118.22Pfizer
117.54AT&T
86.11Verizon
Top 20 S&P 500 companies by market cap in 2001
(as of 1/1/2001, in billions USD)2001
Top 20 market cap: 3,748.06
S&P 500 market cap: 11,710.00
302.21Exxon Mobil
296.22General Electric
275.29Cisco Systems
274.93Pfizer
237.29Walmart
231.29Microsoft
229.40Citigroup
205.88Merck
202.32Intel
191.21AIG
162.20Oracle
151.11Coca-Cola
146.04Johnson & Johnson
142.44IBM
137.66Bristol-Myers Squibb
121.98AT&T
121.88Verizon
107.75Berkshire Hathaway
106.05Home Depot
104.91Eli Lilly
Top 20 S&P 500 companies by market cap in 2002
(as of 1/1/2002, in billions USD)2002
Top 20 market cap: 3,517.12
S&P 500 market cap: 10,460.00
357.95Microsoft
267.59Exxon Mobil
259.91Citigroup
256.51Walmart
248.34General Electric
236.96Pfizer
210.40Intel
199.09IBM
180.09Johnson & Johnson
173.98AIG
132.84Cisco Systems
127.43Merck
119.53Home Depot
117.23Coca-Cola
116.18Verizon
115.76Berkshire Hathaway
101.30Procter & Gamble
99.15AT&T
98.72Bristol-Myers Squibb
98.16Bank of America
Top 20 S&P 500 companies by market cap in 2003
(as of 1/1/2003, in billions USD)2003
Top 20 market cap: 2,730.63
S&P 500 market cap: 8,107.00
276.63Microsoft
234.10Exxon Mobil
222.95Walmart
180.90Citigroup
178.45Pfizer
159.43Johnson & Johnson
151.75General Electric
127.50IBM
126.48AIG
121.18Merck
111.55Berkshire Hathaway
111.11Procter & Gamble
108.33Coca-Cola
104.40Bank of America
102.37Intel
95.85Verizon
94.65Cisco Systems
79.02Wells Fargo
72.70PepsiCo
71.28Eli Lilly
Top 20 S&P 500 companies by market cap in 2004
(as of 1/1/2004, in billions USD)2004
Top 20 market cap: 3,278.46
S&P 500 market cap: 10,290.00
295.29Microsoft
269.29Exxon Mobil
255.34Pfizer
250.32Citigroup
229.59Walmart
207.91Intel
194.72General Electric
167.27Cisco Systems
153.33Johnson & Johnson
150.01IBM
144.84AIG
129.77Berkshire Hathaway
129.08Procter & Gamble
123.91Coca-Cola
115.91Bank of America
100.00Wells Fargo
97.88Merck
92.36Chevron
87.47Verizon
84.17UPS
Top 20 S&P 500 companies by market cap in 2005
(as of 1/1/2005, in billions USD)2005
Top 20 market cap: 3,401.44
S&P 500 market cap: 11,290.00
328.12Exxon Mobil
290.72Microsoft
250.28Citigroup
241.28General Electric
223.69Walmart
190.48Bank of America
190.37Pfizer
188.42Johnson & Johnson
154.95IBM
146.26Intel
142.85AIG
138.94Procter & Gamble
138.73JPMorgan Chase
135.53Berkshire Hathaway
127.22Cisco Systems
110.64Chevron
105.32Wells Fargo
101.09Verizon
100.32Coca-Cola
96.23UPS
Top 20 S&P 500 companies by market cap in 2006
(as of 1/1/2006, in billions USD)2006
Top 20 market cap: 3,316.84
S&P 500 market cap: 11,250.00
349.51Exxon Mobil
278.36Microsoft
245.51Citigroup
230.95General Electric
194.85Walmart
185.34Bank of America
178.79Johnson & Johnson
162.85Pfizer
150.48Intel
148.37AIG
138.88JPMorgan Chase
137.62Procter & Gamble
135.68Berkshire Hathaway
127.45Chevron
124.01IBM
122.49Alphabet
105.16Cisco Systems
105.07Wells Fargo
98.13PepsiCo
97.34Amgen
Top 20 S&P 500 companies by market cap in 2007
(as of 1/1/2007, in billions USD)2007
Top 20 market cap: 3,811.34
S&P 500 market cap: 12,730.00
446.94Exxon Mobil
293.54Microsoft
273.69Citigroup
239.76Bank of America
239.20General Electric
203.66Procter & Gamble
192.48Walmart
191.42Johnson & Johnson
176.92Pfizer
169.64Berkshire Hathaway
167.55JPMorgan Chase
165.97Cisco Systems
160.29Chevron
156.08AIG
140.84Alphabet
139.78IBM
120.05Wells Fargo
116.76Intel
113.09Coca-Cola
103.68AT&T
Top 20 S&P 500 companies by market cap in 2008
(as of 1/1/2008, in billions USD)2008
Top 20 market cap: 4,032.10
S&P 500 market cap: 12,870.00
504.24Exxon Mobil
332.11Microsoft
230.89General Electric
225.95Procter & Gamble
219.90Berkshire Hathaway
216.11Alphabet
195.10Chevron
190.35Walmart
189.56AT&T
189.44Johnson & Johnson
183.29Bank of America
174.04Apple
164.23Cisco Systems
161.26Citigroup
154.31Intel
146.99JPMorgan Chase
145.58Pfizer
142.94IBM
142.26Coca-Cola
123.55AIG
Top 20 S&P 500 companies by market cap in 2009
(as of 1/1/2009, in billions USD)2009
Top 20 market cap: 2,761.05
S&P 500 market cap: 7,852.00
406.07Exxon Mobil
219.90Walmart
181.18Procter & Gamble
172.93Microsoft
166.00Johnson & Johnson
149.38Berkshire Hathaway
148.25Chevron
126.75AT&T
117.68JPMorgan Chase
113.13Pfizer
107.65IBM
104.73Coca-Cola
100.58General Electric
98.03Wells Fargo
96.74Alphabet
95.44Cisco Systems
94.06Verizon
89.47Oracle
88.02Philip Morris Int.
85.06PepsiCo
Top 20 S&P 500 companies by market cap in 2010
(as of 1/1/2010, in billions USD)2010
Top 20 market cap: 3,318.01
S&P 500 market cap: 9,928.00
322.33Exxon Mobil
268.56Microsoft
203.65Walmart
196.82Alphabet
190.98Apple
177.71Johnson & Johnson
176.11Procter & Gamble
164.26JPMorgan Chase
163.21IBM
154.57Chevron
152.97Berkshire Hathaway
139.77Wells Fargo
139.06Pfizer
137.72Cisco Systems
131.27Coca-Cola
130.27Bank of America
124.85AT&T
122.93Oracle
112.67Intel
108.30Merck
Top 20 S&P 500 companies by market cap in 2011
(as of 1/1/2011, in billions USD)2011
Top 20 market cap: 3,592.61
S&P 500 market cap: 11,430.00
364.06Exxon Mobil
297.09Apple
234.53Microsoft
198.05Berkshire Hathaway
192.10Walmart
190.66Alphabet
183.18Chevron
180.17Procter & Gamble
172.14IBM
169.86Johnson & Johnson
165.87JPMorgan Chase
163.08Wells Fargo
158.14Oracle
150.74Coca-Cola
137.45Citigroup
134.54Bank of America
132.90Pfizer
131.07AT&T
121.08General Electric
115.90Intel
Top 20 S&P 500 companies by market cap in 2012
(as of 1/1/2012, in billions USD)2012
Top 20 market cap: 3,729.93
S&P 500 market cap: 11,390.00
406.27Exxon Mobil
377.52Apple
218.38Microsoft
211.89Chevron
209.00Alphabet
207.01IBM
204.66Walmart
188.93Berkshire Hathaway
183.54Procter & Gamble
179.09Johnson & Johnson
158.92Coca-Cola
157.59Pfizer
145.34Wells Fargo
136.32Philip Morris Int.
135.24AT&T
128.91Oracle
126.34JPMorgan Chase
123.48Intel
117.92General Electric
113.58Verizon
Top 20 S&P 500 companies by market cap in 2013
(as of 1/1/2013, in billions USD)2013
Top 20 market cap: 4,095.92
S&P 500 market cap: 12,740.00
499.70Apple
389.65Exxon Mobil
233.19Alphabet
228.25Walmart
223.67Microsoft
221.06Berkshire Hathaway
210.52Chevron
204.44IBM
194.77Johnson & Johnson
185.45Procter & Gamble
180.00Wells Fargo
172.87Pfizer
167.26JPMorgan Chase
162.00Coca-Cola
157.75Oracle
141.99AT&T
138.31Philip Morris Int.
136.21General Electric
125.14Bank of America
123.69Verizon
Top 20 S&P 500 companies by market cap in 2014
(as of 1/1/2014, in billions USD)2014
Top 20 market cap: 4,900.19
S&P 500 market cap: 16,490.00
500.74Apple
438.70Exxon Mobil
376.01Alphabet
310.50Microsoft
292.36Berkshire Hathaway
258.34Johnson & Johnson
254.62Walmart
239.03Chevron
238.68Wells Fargo
220.74Procter & Gamble
219.66JPMorgan Chase
188.90IBM
185.68Pfizer
183.04Amazon
181.85Coca-Cola
175.87General Electric
172.07Oracle
164.91Bank of America
157.85Citigroup
140.64Verizon
Top 20 S&P 500 companies by market cap in 2015
(as of 1/1/2015, in billions USD)2015
Top 20 market cap: 5,348.74
S&P 500 market cap: 18,250.00
643.12Apple
388.38Exxon Mobil
381.73Microsoft
370.02Berkshire Hathaway
361.44Alphabet
291.04Johnson & Johnson
283.44Wells Fargo
276.81Walmart
245.99Procter & Gamble
232.47JPMorgan Chase
216.74Meta/Facebook
210.86Chevron
197.48Oracle
194.37Verizon
188.14Bank of America
185.64Pfizer
184.33Coca-Cola
172.30Intel
163.62Citigroup
160.82Visa
Top 20 S&P 500 companies by market cap in 2016
(as of 1/1/2016, in billions USD)2016
Top 20 market cap: 5,485.05
S&P 500 market cap: 17,900.00
583.61Apple
534.76Alphabet
439.68Microsoft
325.49Berkshire Hathaway
323.96Exxon Mobil
318.34Amazon
296.61Meta/Facebook
284.22Johnson & Johnson
276.81Wells Fargo
241.90JPMorgan Chase
214.77Procter & Gamble
196.28Walmart
188.83Pfizer
188.26Verizon
185.77Visa
185.76Coca-Cola
182.20General Electric
174.70Bank of America
173.72Walt Disney
169.38Chevron
Top 20 S&P 500 companies by market cap in 2017
(as of 1/1/2017, in billions USD)2017
Top 20 market cap: 6,022.18
S&P 500 market cap: 19,270.00
608.96Apple
546.19Alphabet
483.16Microsoft
401.92Berkshire Hathaway
374.28Exxon Mobil
356.31Amazon
331.59Meta/Facebook
313.43Johnson & Johnson
308.77JPMorgan Chase
276.78Wells Fargo
225.00Procter & Gamble
223.32Bank of America
222.19Chevron
217.61Verizon
212.42Walmart
197.11AT&T
186.72Pfizer
183.27Visa
178.82Coca-Cola
174.33General Electric
Top 20 S&P 500 companies by market cap in 2018
(as of 1/1/2018, in billions USD)2018
Top 20 market cap: 7,621.28
S&P 500 market cap: 22,820.00
860.88Apple
731.90Alphabet
659.91Microsoft
563.54Amazon
512.76Meta/Facebook
489.05Berkshire Hathaway
375.36Johnson & Johnson
371.05JPMorgan Chase
354.39Exxon Mobil
307.91Bank of America
298.75Wells Fargo
292.54Walmart
260.92Visa
237.78Chevron
233.10Procter & Gamble
221.32Home Depot
216.03Intel
215.92Verizon
213.64UnitedHealth
204.53Pfizer
Top 20 S&P 500 companies by market cap in 2019
(as of 1/1/2019, in billions USD)2019
Top 20 market cap: 7,392.51
S&P 500 market cap: 21,030.00
780.36Microsoft
746.08Apple
737.47Amazon
726.83Alphabet
502.57Berkshire Hathaway
374.13Meta/Facebook
343.57Johnson & Johnson
319.78JPMorgan Chase
293.97Visa
288.92Exxon Mobil
270.62Walmart
239.16UnitedHealth
238.25Bank of America
236.40Pfizer
232.30Verizon
229.95Procter & Gamble
211.94Intel
211.10Wells Fargo
207.01Chevron
202.10Coca-Cola
Top 20 S&P 500 companies by market cap in 2020
(as of 1/1/2020, in billions USD)2020
Top 20 market cap: 9,766.14
S&P 500 market cap: 26,760.00
1,288Apple
1,200Microsoft
921.95Alphabet
920.22Amazon
585.37Meta/Facebook
552.08Berkshire Hathaway
429.91JPMorgan Chase
409.44Visa
384.00Johnson & Johnson
337.17Walmart
311.21Bank of America
308.43Procter & Gamble
300.80Mastercard
295.45Exxon Mobil
278.69UnitedHealth
257.59Walt Disney
256.76Intel
253.94Verizon
238.22Home Depot
236.91Coca-Cola
Top 20 S&P 500 companies by market cap in 2021
(as of 1/1/2021, in billions USD)2021
Top 20 market cap: 13,153.75
S&P 500 market cap: 31,660.00
2,232Apple
1,678Microsoft
1,638Amazon
1,183Alphabet
778.23Meta/Facebook
677.44Tesla
537.00Berkshire Hathaway
473.78Visa
414.31Johnson & Johnson
407.84Walmart
387.49JPMorgan Chase
355.32Mastercard
342.63Procter & Gamble
331.74UnitedHealth
328.02Walt Disney
323.24NVIDIA
285.97Home Depot
274.41PayPal
262.21Bank of America
243.12Verizon
Top 20 S&P 500 companies by market cap in 2022
(as of 1/1/2022, in billions USD)2022
Top 20 market cap: 17,127.35
S&P 500 market cap: 40,360.00
2,902,000Apple
2,522Microsoft
1,918Alphabet
1,697Amazon
1,092Tesla
921.94Meta/Facebook
735.28NVIDIA
662.63Berkshire Hathaway
472.51UnitedHealth
466.21JPMorgan Chase
460.95Visa
450.36Johnson & Johnson
433.37Home Depot
401.35Walmart
392.11Procter & Gamble
359.38Bank of America
352.13Mastercard
331.86Pfizer
281.54Walt Disney
274.73Broadcom
Top 20 S&P 500 companies by market cap in 2023
(as of 1/1/2023, in billions USD)2023
Top 20 market cap: 12,225.01
S&P 500 market cap: 32,130.00
2,067Apple
1,788Microsoft
1,148Alphabet
856.94Amazon
678.72Berkshire Hathaway
495.37UnitedHealth
461.85Johnson & Johnson
454.25Exxon Mobil
439.96Visa
393.34JPMorgan Chase
388.97Tesla
382.38Walmart
359.50NVIDIA
359.15Procter & Gamble
347.61Eli Lilly
344.53Chevron
334.33Mastercard
321.92Home Depot
315.56Meta/Facebook
287.63Pfizer
Top 20 S&P 500 companies by market cap in 2024
(as of 1/1/2024, in billions USD)2024
Top 20 market cap: 17,992.44
S&P 500 market cap: 40,040.00
2,994Apple
2,795Microsoft
1,764Alphabet
1,570Amazon
1,223NVIDIA
909.63Meta/Facebook
789.90Tesla
772.53Berkshire Hathaway
553.37Eli Lilly
535.07Visa
522.56Broadcom
491.76JPMorgan Chase
486.95UnitedHealth
424.43Walmart
400.13Mastercard
399.60Exxon Mobil
377.32Johnson & Johnson
345.38Procter & Gamble
344.91Home Depot
292.90Costco
Source: own data compilation from Ycharts.com, Bloomberg.com, Fortune.com and CNN.com.
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Market Capitalization vs. Market Value
Market value and market capitalization are two frequently used – and usually confused – terms when discussing the profitability and viability of companies.
Market Capitalization
Market capitalization, or market cap, is a simple indicator based on stock price. A company’s market capitalization is calculated by multiplying the number of shares outstanding by the current price per share. For example, a company with 50 million outstanding shares and a share price of $100 per share would have a market capitalization of $5 billion. Market capitalization is essentially a synonym for the market value of equity.
Market Value
While market cap is often referred to as the value of a company, or what a company is worth, determining the true market value of a company is much more complicated. It is determined by the valuations or multiples that investors attribute to companies, such as price to sales, price to earnings, enterprise value to EBITDA, etc. These various metrics take into account several factors in addition to shareholder equity, such as outstanding bonds, long-term growth potential, company debt, taxes, and interest payments. The higher the valuation, the higher the market value.
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