Top 20 S&P 500 Companies by Market Cap (1989–2025)

Largest 20 S&P 500 Companies by Market Cap in 1989

(as of 12/31/1989, in billions USD)
  1. 62.58
  2. 52.03
  3. 44.59
  4. 34.67
  5. 28.01
  6. 27.68
  7. 26.37
  8. 25.40
  9. 23.01
  10. 19.81
  11. 19.77
  12. 19.05
  13. 18.65
  14. 16.86
  15. 15.17
  16. 14.47
  17. 14.38
  18. 14.14
  19. 13.68
  20. 12.76

1989

Top 20 total: 503B

Largest 20 S&P 500 Companies by Market Cap in 1990

(as of 12/31/1990, in billions USD)
  1. 64.43
  2. 61.67
  3. 34.23
  4. 33.42
  5. 32.96
  6. 31.42
  7. 31.07
  8. 29.82
  9. 29.10
  10. 23.90
  11. 20.50
  12. 19.57
  13. 19.00
  14. 15.64
  15. 15.59
  16. 15.20
  17. 13.63
  18. 13.51
  19. 12.67
  20. 12.67

1990

Top 20 total: 530B

Largest 20 S&P 500 Companies by Market Cap in 1991

(as of 12/31/1991, in billions USD)
  1. 75.61
  2. 67.62
  3. 58.13
  4. 53.32
  5. 48.54
  6. 43.65
  7. 38.15
  8. 35.42
  9. 33.17
  10. 31.54
  11. 26.73
  12. 26.26
  13. 24.43
  14. 20.63
  15. 19.72
  16. 17.45
  17. 17.22
  18. 17.10
  19. 16.83
  20. 16.30

1991

Top 20 total: 688B

Largest 20 S&P 500 Companies by Market Cap in 1992

(as of 12/31/1992, in billions USD)
  1. 75.92
  2. 73.55
  3. 54.72
  4. 44.81
  5. 37.57
  6. 36.23
  7. 33.23
  8. 33.15
  9. 33.10
  10. 29.88
  11. 27.50
  12. 25.87
  13. 23.04
  14. 22.83
  15. 22.35
  16. 20.52
  17. 20.04
  18. 19.83
  19. 18.21
  20. 17.78

1992

Top 20 total: 670B

Largest 20 S&P 500 Companies by Market Cap in 1993

(as of 12/31/1993, in billions USD)
  1. 78.40
  2. 57.90
  3. 57.46
  4. 39.20
  5. 38.90
  6. 38.64
  7. 32.65
  8. 31.38
  9. 28.85
  10. 28.39
  11. 28.38
  12. 28.00
  13. 27.49
  14. 25.92
  15. 23.30
  16. 23.28
  17. 23.06
  18. 22.91
  19. 21.00
  20. 20.16

1993

Top 20 total: 675B

Largest 20 S&P 500 Companies by Market Cap in 1994

(as of 12/31/1994, in billions USD)
  1. 75.42
  2. 66.32
  3. 48.84
  4. 43.39
  5. 42.17
  6. 41.22
  7. 39.32
  8. 35.48
  9. 35.21
  10. 29.08
  11. 28.73
  12. 28.14
  13. 27.21
  14. 26.47
  15. 25.90
  16. 24.78
  17. 24.13
  18. 23.06
  19. 20.79
  20. 20.43

1994

Top 20 total: 706B

Largest 20 S&P 500 Companies by Market Cap in 1995

(as of 12/31/1995, in billions USD)
  1. 99.96
  2. 93.20
  3. 72.95
  4. 71.61
  5. 58.06
  6. 56.28
  7. 55.38
  8. 51.05
  9. 50.94
  10. 48.73
  11. 47.05
  12. 44.33
  13. 41.26
  14. 40.27
  15. 38.34
  16. 37.97
  17. 36.71
  18. 34.16
  19. 31.42
  20. 31.02

1995

Top 20 total: 1,041B

Largest 20 S&P 500 Companies by Market Cap in 1996

(as of 12/31/1996, in billions USD)
  1. 130.56
  2. 121.72
  3. 107.50
  4. 86.70
  5. 73.51
  6. 72.23
  7. 66.29
  8. 52.19
  9. 52.03
  10. 51.81
  11. 50.88
  12. 50.72
  13. 47.08
  14. 42.57
  15. 42.45
  16. 41.99
  17. 41.71
  18. 41.11
  19. 40.63
  20. 39.76

1996

Top 20 total: 1,253B

Largest 20 S&P 500 Companies by Market Cap in 1997

(as of 12/31/1997, in billions USD)
  1. 164.61
  2. 157.36
  3. 150.34
  4. 149.53
  5. 114.37
  6. 114.18
  7. 105.77
  8. 95.69
  9. 91.40
  10. 89.48
  11. 88.61
  12. 88.57
  13. 77.32
  14. 67.07
  15. 63.73
  16. 63.66
  17. 58.58
  18. 57.90
  19. 56.98
  20. 56.04

1997

Top 20 total: 1,911B

Largest 20 S&P 500 Companies by Market Cap in 1998

(as of 12/31/1998, in billions USD)
  1. 348.11
  2. 208.42
  3. 196.52
  4. 181.07
  5. 177.55
  6. 164.88
  7. 161.63
  8. 157.10
  9. 153.77
  10. 145.99
  11. 126.70
  12. 119.62
  13. 118.80
  14. 112.73
  15. 103.68
  16. 97.44
  17. 87.87
  18. 84.98
  19. 84.22
  20. 79.29

1998

Top 20 total: 2,910B

Largest 20 S&P 500 Companies by Market Cap in 1999

(as of 12/31/1999, in billions USD)
  1. 604.41
  2. 355.12
  3. 318.01
  4. 307.88
  5. 280.12
  6. 274.43
  7. 200.66
  8. 184.06
  9. 158.09
  10. 157.88
  11. 148.93
  12. 143.97
  13. 142.37
  14. 140.33
  15. 129.41
  16. 124.74
  17. 121.06
  18. 118.22
  19. 117.54
  20. 86.11

1999

Top 20 total: 4,113B

S&P 500 total: 12,310B

Largest 20 S&P 500 Companies by Market Cap in 2000

(as of 12/31/2000, in billions USD)
  1. 302.21
  2. 296.22
  3. 275.29
  4. 274.93
  5. 237.29
  6. 231.29
  7. 229.40
  8. 205.88
  9. 202.32
  10. 191.21
  11. 162.20
  12. 151.11
  13. 146.04
  14. 142.44
  15. 137.66
  16. 121.98
  17. 121.88
  18. 107.75
  19. 106.05
  20. 104.91

2000

Top 20 total: 3,748B

S&P 500 total: 11,710B

Largest 20 S&P 500 Companies by Market Cap in 2001

(as of 12/31/2001, in billions USD)
  1. 357.95
  2. 267.59
  3. 259.91
  4. 256.51
  5. 248.34
  6. 236.96
  7. 210.40
  8. 199.09
  9. 180.09
  10. 173.98
  11. 132.84
  12. 127.43
  13. 119.53
  14. 117.23
  15. 116.18
  16. 115.76
  17. 101.30
  18. 99.15
  19. 98.72
  20. 98.16

2001

Top 20 total: 3,517B

S&P 500 total: 10,460B

Largest 20 S&P 500 Companies by Market Cap in 2002

(as of 12/31/2002, in billions USD)
  1. 276.63
  2. 234.10
  3. 222.95
  4. 180.90
  5. 178.45
  6. 159.43
  7. 151.75
  8. 127.50
  9. 126.48
  10. 121.18
  11. 111.55
  12. 111.11
  13. 108.33
  14. 104.40
  15. 102.37
  16. 95.85
  17. 94.65
  18. 79.02
  19. 72.70
  20. 71.28

2002

Top 20 total: 2,731B

S&P 500 total: 8,107B

Largest 20 S&P 500 Companies by Market Cap in 2003

(as of 12/31/2003, in billions USD)
  1. 295.29
  2. 269.29
  3. 255.34
  4. 250.32
  5. 229.59
  6. 207.91
  7. 194.72
  8. 167.27
  9. 153.33
  10. 150.01
  11. 144.84
  12. 129.77
  13. 129.08
  14. 123.91
  15. 115.91
  16. 100.00
  17. 97.88
  18. 92.36
  19. 87.47
  20. 84.17

2003

Top 20 total: 3,278B

S&P 500 total: 10,290B

Largest 20 S&P 500 Companies by Market Cap in 2004

(as of 12/31/2004, in billions USD)
  1. 328.12
  2. 290.72
  3. 250.28
  4. 241.28
  5. 223.69
  6. 190.48
  7. 190.37
  8. 188.42
  9. 154.95
  10. 146.26
  11. 142.85
  12. 138.94
  13. 138.73
  14. 135.53
  15. 127.22
  16. 110.64
  17. 105.32
  18. 101.09
  19. 100.32
  20. 96.23

2004

Top 20 total: 3,401B

S&P 500 total: 11,290B

Largest 20 S&P 500 Companies by Market Cap in 2005

(as of 12/31/2005, in billions USD)
  1. 349.51
  2. 278.36
  3. 245.51
  4. 230.95
  5. 194.85
  6. 185.34
  7. 178.79
  8. 162.85
  9. 150.48
  10. 148.37
  11. 138.88
  12. 137.62
  13. 135.68
  14. 127.45
  15. 124.01
  16. 122.49
  17. 105.16
  18. 105.07
  19. 98.13
  20. 97.34

2005

Top 20 total: 3,317B

S&P 500 total: 11,250B

Largest 20 S&P 500 Companies by Market Cap in 2006

(as of 12/31/2006, in billions USD)
  1. 446.94
  2. 293.54
  3. 273.69
  4. 239.76
  5. 239.20
  6. 203.66
  7. 192.48
  8. 191.42
  9. 176.92
  10. 169.64
  11. 167.55
  12. 165.97
  13. 160.29
  14. 156.08
  15. 140.84
  16. 139.78
  17. 120.05
  18. 116.76
  19. 113.09
  20. 103.68

2006

Top 20 total: 3,811B

S&P 500 total: 12,730B

Largest 20 S&P 500 Companies by Market Cap in 2007

(as of 12/31/2007, in billions USD)
  1. 504.24
  2. 332.11
  3. 230.89
  4. 225.95
  5. 219.90
  6. 216.11
  7. 195.10
  8. 190.35
  9. 189.56
  10. 189.44
  11. 183.29
  12. 174.04
  13. 164.23
  14. 161.26
  15. 154.31
  16. 146.99
  17. 145.58
  18. 142.94
  19. 142.26
  20. 123.55

2007

Top 20 total: 4,032B

S&P 500 total: 12,870B

Largest 20 S&P 500 Companies by Market Cap in 2008

(as of 12/31/2008, in billions USD)
  1. 406.07
  2. 219.90
  3. 181.18
  4. 172.93
  5. 166.00
  6. 149.38
  7. 148.25
  8. 126.75
  9. 117.68
  10. 113.13
  11. 107.65
  12. 104.73
  13. 100.58
  14. 98.03
  15. 96.74
  16. 95.44
  17. 94.06
  18. 89.47
  19. 88.02
  20. 85.06

2008

Top 20 total: 2,761B

S&P 500 total: 7,852B

Largest 20 S&P 500 Companies by Market Cap in 2009

(as of 12/31/2009, in billions USD)
  1. 322.33
  2. 268.56
  3. 203.65
  4. 196.82
  5. 190.98
  6. 177.71
  7. 176.11
  8. 164.26
  9. 163.21
  10. 154.57
  11. 152.97
  12. 139.77
  13. 139.06
  14. 137.72
  15. 131.27
  16. 130.27
  17. 124.85
  18. 122.93
  19. 112.67
  20. 108.30

2009

Top 20 total: 3,318B

S&P 500 total: 9,928B

Largest 20 S&P 500 Companies by Market Cap in 2010

(as of 12/31/2010, in billions USD)
  1. 364.06
  2. 297.09
  3. 234.53
  4. 198.05
  5. 192.10
  6. 190.66
  7. 183.18
  8. 180.17
  9. 172.14
  10. 169.86
  11. 165.87
  12. 163.08
  13. 158.14
  14. 150.74
  15. 137.45
  16. 134.54
  17. 132.90
  18. 131.07
  19. 121.08
  20. 115.90

2010

Top 20 total: 3,593B

S&P 500 total: 11,430B

Largest 20 S&P 500 Companies by Market Cap in 2011

(as of 12/31/2011, in billions USD)
  1. 406.27
  2. 377.52
  3. 218.38
  4. 211.89
  5. 209.00
  6. 207.01
  7. 204.66
  8. 188.93
  9. 183.54
  10. 179.09
  11. 158.92
  12. 157.59
  13. 145.34
  14. 136.32
  15. 135.24
  16. 128.91
  17. 126.34
  18. 123.48
  19. 117.92
  20. 113.58

2011

Top 20 total: 3,730B

S&P 500 total: 11,390B

Largest 20 S&P 500 Companies by Market Cap in 2012

(as of 12/31/2012, in billions USD)
  1. 499.70
  2. 389.65
  3. 233.19
  4. 228.25
  5. 223.67
  6. 221.06
  7. 210.52
  8. 204.44
  9. 194.77
  10. 185.45
  11. 180.00
  12. 172.87
  13. 167.26
  14. 162.00
  15. 157.75
  16. 141.99
  17. 138.31
  18. 136.21
  19. 125.14
  20. 123.69

2012

Top 20 total: 4,096B

S&P 500 total: 12,740B

Largest 20 S&P 500 Companies by Market Cap in 2013

(as of 12/31/2013, in billions USD)
  1. 500.74
  2. 438.70
  3. 376.01
  4. 310.50
  5. 292.36
  6. 258.34
  7. 254.62
  8. 239.03
  9. 238.68
  10. 220.74
  11. 219.66
  12. 188.90
  13. 185.68
  14. 183.04
  15. 181.85
  16. 175.87
  17. 172.07
  18. 164.91
  19. 157.85
  20. 140.64

2013

Top 20 total: 4,900B

S&P 500 total: 16,490B

Largest 20 S&P 500 Companies by Market Cap in 2014

(as of 12/31/2014, in billions USD)
  1. 643.12
  2. 388.38
  3. 381.73
  4. 370.02
  5. 361.44
  6. 291.04
  7. 283.44
  8. 276.81
  9. 245.99
  10. 232.47
  11. 216.74
  12. 210.86
  13. 197.48
  14. 194.37
  15. 188.14
  16. 185.64
  17. 184.33
  18. 172.30
  19. 163.62
  20. 160.82

2014

Top 20 total: 5,349B

S&P 500 total: 18,250B

Largest 20 S&P 500 Companies by Market Cap in 2015

(as of 12/31/2015, in billions USD)
  1. 583.61
  2. 534.76
  3. 439.68
  4. 325.49
  5. 323.96
  6. 318.34
  7. 296.61
  8. 284.22
  9. 276.81
  10. 241.90
  11. 214.77
  12. 196.28
  13. 188.83
  14. 188.26
  15. 185.77
  16. 185.76
  17. 182.20
  18. 174.70
  19. 173.72
  20. 169.38

2015

Top 20 total: 5,485B

S&P 500 total: 17,900B

Largest 20 S&P 500 Companies by Market Cap in 2016

(as of 12/31/2016, in billions USD)
  1. 608.96
  2. 546.19
  3. 483.16
  4. 401.92
  5. 374.28
  6. 356.31
  7. 331.59
  8. 313.43
  9. 308.77
  10. 276.78
  11. 225.00
  12. 223.32
  13. 222.19
  14. 217.61
  15. 212.42
  16. 197.11
  17. 186.72
  18. 183.27
  19. 178.82
  20. 174.33

2016

Top 20 total: 6,022B

S&P 500 total: 19,270B

Largest 20 S&P 500 Companies by Market Cap in 2017

(as of 12/31/2017, in billions USD)
  1. 860.88
  2. 731.90
  3. 659.91
  4. 563.54
  5. 512.76
  6. 489.05
  7. 375.36
  8. 371.05
  9. 354.39
  10. 307.91
  11. 298.75
  12. 292.54
  13. 260.92
  14. 237.78
  15. 233.10
  16. 221.32
  17. 216.03
  18. 215.92
  19. 213.64
  20. 204.53

2017

Top 20 total: 7,621B

S&P 500 total: 22,820B

Largest 20 S&P 500 Companies by Market Cap in 2018

(as of 12/31/2018, in billions USD)
  1. 780.36
  2. 746.08
  3. 737.47
  4. 726.83
  5. 502.57
  6. 374.13
  7. 343.57
  8. 319.78
  9. 293.97
  10. 288.92
  11. 270.62
  12. 239.16
  13. 238.25
  14. 236.40
  15. 232.30
  16. 229.95
  17. 211.94
  18. 211.10
  19. 207.01
  20. 202.10

2018

Top 20 total: 7,393B

S&P 500 total: 21,030B

Largest 20 S&P 500 Companies by Market Cap in 2019

(as of 12/31/2019, in billions USD)
  1. 1,288
  2. 1,200
  3. 921.95
  4. 920.22
  5. 585.37
  6. 552.08
  7. 429.91
  8. 409.44
  9. 384.00
  10. 337.17
  11. 311.21
  12. 308.43
  13. 300.80
  14. 295.45
  15. 278.69
  16. 257.59
  17. 256.76
  18. 253.94
  19. 238.22
  20. 236.91

2019

Top 20 total: 9,766B

S&P 500 total: 26,760B

Largest 20 S&P 500 Companies by Market Cap in 2020

(as of 12/31/2020, in billions USD)
  1. 2,232
  2. 1,678
  3. 1,638
  4. 1,183
  5. 778.23
  6. 677.44
  7. 537.00
  8. 473.78
  9. 414.31
  10. 407.84
  11. 387.49
  12. 355.32
  13. 342.63
  14. 331.74
  15. 328.02
  16. 323.24
  17. 285.97
  18. 274.41
  19. 262.21
  20. 243.12

2020

Top 20 total: 13,154B

S&P 500 total: 31,660B

Largest 20 S&P 500 Companies by Market Cap in 2021

(as of 12/31/2021, in billions USD)
  1. 2,902
  2. 2,522
  3. 1,918
  4. 1,697
  5. 1,092
  6. 921.94
  7. 735.28
  8. 662.63
  9. 472.51
  10. 466.21
  11. 460.95
  12. 450.36
  13. 433.37
  14. 401.35
  15. 392.11
  16. 359.38
  17. 352.13
  18. 331.86
  19. 281.54
  20. 274.73

2021

Top 20 total: 17,127B

S&P 500 total: 40,360B

Largest 20 S&P 500 Companies by Market Cap in 2022

(as of 12/31/2022, in billions USD)
  1. 2,067
  2. 1,788
  3. 1,148
  4. 856.94
  5. 678.72
  6. 495.37
  7. 461.85
  8. 454.25
  9. 439.96
  10. 393.34
  11. 388.97
  12. 382.38
  13. 359.50
  14. 359.15
  15. 347.61
  16. 344.53
  17. 334.33
  18. 321.92
  19. 315.56
  20. 287.63

2022

Top 20 total: 12,225B

S&P 500 total: 32,130B

Largest 20 S&P 500 Companies by Market Cap in 2023

(as of 12/31/2023, in billions USD)
  1. 2,994
  2. 2,795
  3. 1,764
  4. 1,570
  5. 1,223
  6. 909.63
  7. 789.90
  8. 772.53
  9. 553.37
  10. 535.07
  11. 522.56
  12. 491.76
  13. 486.95
  14. 424.43
  15. 400.13
  16. 399.60
  17. 377.32
  18. 345.38
  19. 344.91
  20. 292.90

2023

Top 20 total: 17,992B

S&P 500 total: 40,040B

Largest 20 S&P 500 Companies by Market Cap in 2024

(as of 12/31/2024, in billions USD)
  1. 3,785
  2. 3,289
  3. 3,134
  4. 2,331
  5. 2,307
  6. 1,478
  7. 1,296
  8. 1,087
  9. 977.46
  10. 732.87
  11. 725.82
  12. 674.87
  13. 612.00
  14. 483.30
  15. 472.78
  16. 466.08
  17. 465.54
  18. 406.73
  19. 394.82
  20. 386.41

2024

Top 20 total: 25,506B

S&P 500 total: 52,871B

Largest 20 S&P 500 Companies by Market Cap in 2025

(as of 02/20/2025, in billions USD)
  1. 3,678
  2. 3,410
  3. 3,083
  4. 2,402
  5. 2,270
  6. 1,783
  7. 1,160
  8. 1,072
  9. 1,043
  10. 835.47
  11. 780.81
  12. 779.75
  13. 685.24
  14. 518.31
  15. 507.70
  16. 480.15
  17. 471.66
  18. 470.30
  19. 446.29
  20. 392.81

2025

Top 20 total: 26,269B

S&P 500 total: 54,362B


  • Basic Materials
  • Communication Services
  • Consumer Cyclical
  • Consumer Defensive
  • Energy
  • Financial Services
  • Healthcare
  • Industrials
  • Technology
  • Utilities

Source: compilation of data from Ycharts, Bloomberg.com, Fortune.com and Yahoo Finance.

Aggregate Market Cap of the 20 largest S&P 500 Companies in 1989–2025

Aggregate market capitalization of the 20 largest S&P 500 companies in trillions of USD.

Aggregate Market Cap of the S&P 500 in 2000–2025

The following chart shows the development of the market cap of the S&P 500 index for comparison.

Aggregate market capitalisation of the S&P 500 in trillions of USD.

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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