Largest Companies by Market Cap - July 2025

The closed-month comparison from 2025-06-01 to 2025-07-01 was built from reconstructed lists on both sides. Spotify Technology S.A. (SPOT) was the biggest faller, dropping 30 ranks to rank 105 from rank 75. Novo-Nordisk A/S (NVO) fell 23 ranks to rank 50 from rank 27, while Palo Alto Networks, Inc. (PANW) and Coca-Cola FEMSA, S.A.B DE C.V (KOF) each fell 21 ranks. Micron Technology, Inc. (MU) fell 18 ranks to rank 110 from rank 92.

On the upside, GE Vernova Inc. (GEV) led the climbers, rising 27 ranks to rank 64 from rank 91. Arista Networks (ANET) rose 25 ranks to rank 79 from rank 104, and Thermo Fisher Scientific, Inc. (TMO) rose 17 ranks to rank 66 from rank 83. Citigroup Inc. (C) climbed 13 ranks to rank 76 from rank 89. Caterpillar Inc. (CAT) climbed 12 ranks to rank 54 from rank 66. PDD Holdings Inc. American (PDD) climbed 12 ranks to rank 73 from rank 85.

Figma, Inc. (FIG) made its debut in the ranking at rank 240. Hess Corporation (HES), Ansys Inc (ANSS) and Juniper Networks Inc (JNPR) all left the ranking. HES was previously at rank 319. ANSS was previously at rank 405. JNPR was previously at rank 712.

Inside the top 10, Taiwan Semiconductor Manufacturing Company Ltd. (TSM) overtook Tesla, Inc. (TSLA). TSM finished at No. 8. TSLA finished at No. 9. JPMorgan Chase & Co. (JPM) overtook Walmart Inc. (WMT). JPM finished at No. 10. WMT finished at No. 11.