Largest Companies by Market Cap - December 2025
How these values were calculated
- Reconstructed, not recorded
- The share counts in force at the close of December 2025 were not recorded at the time. Each value marked est. is that month's closing price multiplied by the share count on record today, so a buyback or an issuance since then moves it. The closing prices are exact; the share counts are today's.
- What that changes
- Ranks near each other can swap, and a company whose share count changed sharply since December 2025 carries the largest error. Months recorded while their inputs were current carry no marker.
Swipe or scroll the table sideways for more columns.
The largest declines were in Arm Holdings plc American (ARM) and Sony Group Corporation American (SONY). ARM fell 23 ranks to rank 123. SONY fell 20 ranks to rank 95. The strongest gains came from UBS Group AG (UBS) and Boeing Company (BA). UBS climbed 20 ranks to rank 100. BA climbed 19 ranks to rank 75. Both the
Inside the top 10, Tesla, Inc. (TSLA) and Meta Platforms, Inc. (META) each moved ahead of Broadcom Inc. (AVGO). TSLA rose 1 rank to rank 6. META rose 1 rank to rank 7. AVGO fell 2 ranks to rank 8.
Medline Inc. (MDLN) entered the ranking at rank 265. Kellanova (K) left the ranking after holding No. 445 in November.
Other notable gains included GE Vernova Inc. (GEV), Banco Santander S.A. (SAN) and Toronto Dominion Bank (TD), each of which climbed 12 ranks. Salesforce, Inc. (CRM) climbed 11 ranks to rank 53. Applovin Corporation (APP) climbed 10 ranks to rank 49. Capital One Financial (COF) climbed 10 ranks to rank 97. Further declines included Welltower Inc. (WELL), SERVICENOW, INC. (NOW), NextEra Energy, Inc. (NEE) and Uber Technologies, Inc. (UBER). WELL fell 14 ranks to rank 107. NOW fell 13 ranks to rank 90. NEE fell 12 ranks to rank 79. UBER fell 11 ranks to rank 80.
Compares this month's close with the previous month's close. A company that shifted only because another entered or left the ranking above it is not counted as having moved.
About this ranking
This page ranks 943 US-listed companies by the market capitalization each one carried at the close of December 2025. The values do not change, because December 2025 is over; this is what the ranking looked like then, and it will look the same the next time you visit.
Market capitalization is the share price multiplied by the number of shares outstanding. Each figure on this page uses that month's closing share price, so the ranking reflects the market as it stood at the close of December 2025 rather than today. Rank Change compares each company's position with its position at the end of the previous month. A company whose position shifted only because another company entered or left the ranking above it shows no change, because it did not move.
This month was reconstructed: the closing prices are the ones recorded for December 2025, but the share counts are today's, so every value marked est. carries the share-count drift since then.
For the ranking at today's prices, see the live market cap ranking.