1、Global Top 100 companies-by market capitalisationMay 2025PwC|Global Top 100 companies-by market capitalisation2HighlightsSupplementary analysisMethodologyComplete rankingContents203101416PwC|Global Top 100 companies-by market capitalisation2PwC|Global Top 100 companies-by market capitalisation3Highl

2、ightsThis publication analyses the Global Top 100 companies by market capitalisation as of 31 March 2025,highlighting the changes in the composition of the list since 31 March 2024.As a point of reference,the MSCI World Index increased by 23%in the year to 31 March 2025.Recent developments in the gl

3、obal capital markets have brought volatility to valuations across the Top 100 companies worldwide.Our methodology references a 31 March cut-off for data collection.Recent market developments have caused volitivity to spike and significantly impacted share prices.Tariff announcements at thebeginning

4、of April led to the CBOE VIX reaching a high of 52.3 and the S&P 500 and FTSE 100 hitting lows of 4,982.7 and 7,679.4 respectively.However,the subsequent announcement of a 90 day pause on tariffs led to a steady recovery in valuations throughout April.The market capitalisation of the Top 100 recover

5、ed to be just 0.2%lowerat$42,552bn as of 30 April 2025 compared to$42,636bn as of 31 March 2025.As the countdown towards the end of the 90-day tariff pause continues,companies and investors face continued uncertainty as to the outcomes.Market capitalisations are therefore expected tocontinue to fluc

6、tuate until a greater level stability returns to the global geopolitical and macroeconomic environment.The Top 100 companies hit a new high of$42,636bn as global markets continued to grow,whilst at a slower pace.The market capitalisation of the Top 100 companies increased by 7%($2,768bn)compared to