Largest Companies by Market Cap - July 2025
How these values were calculated
- Reconstructed, not recorded
- The share counts in force at the close of July 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 July 2025 carries the largest error. Months recorded while their inputs were current carry no marker.
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What changed in this ranking
AI-generated summary by Rhea-AI, written on . How Rhea-AI works.
At the close of July 2025, compared with the close of June 2025, Spotify Technology S.A. (SPOT) was the largest faller, dropping 30 places to rank 105 from rank 75. Novo Nordisk A/S (NVO) also fell sharply, down 23 places to rank 50 from rank 27. Palo Alto Networks, Inc. (PANW) and Coca-Cola FEMSA, S.A.B DE C.V (KOF) each fell 21 places, while Micron Technology, Inc. (MU) fell 18 places to rank 110 from rank 92.
Upside was led by GE Vernova (GEV), Arista Networks (ANET) and Thermo Fisher Scientific Inc. (TMO). GEV rose 27 places to rank 64 from rank 91. ANET rose 25 places to rank 79 from rank 104. TMO rose 17 places to rank 66 from rank 83. Citigroup Inc. (C) climbed 13 places to rank 76 from rank 89, while Caterpillar Inc. (CAT) and PDD Holdings Inc. (PDD) each climbed 12 places.
Inside the top 10, Taiwan Semiconductor Manufacturing (TSM) overtook Tesla, Inc. (TSLA), and JPMorgan Chase & Co. (JPM) overtook Walmart Inc. (WMT). TSM rose 1 place to rank 8 from rank 9. TSLA fell 1 place to rank 9 from rank 8. JPM rose 1 place to rank 10 from rank 11. WMT fell 1 place to rank 11 from rank 10.
Hess Corporation (HES), Ansys Inc (ANSS) and Juniper Networks Inc (JNPR) all left the ranking. HES had been at rank 319 at the close of June 2025. ANSS had been at rank 405, while JNPR had been at rank 714. Both the close of July 2025 and the close of June 2025 were reconstructed.
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 946 US-listed companies by the market capitalization each one carried at the close of July 2025. The values do not change, because July 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 July 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 July 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.