Largest Companies by Market Cap - March 2025
How these values were calculated
- Reconstructed, not recorded
- The share counts in force at the close of March 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 March 2025 carries the largest error. Months recorded while their inputs were current carry no marker.
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Microsoft Corp (MSFT) overtook Nvidia Corp (NVDA) inside the top 10. MSFT rose 1 place to rank 2 from rank 3. NVDA fell 1 place to rank 3 from rank 2. Taiwan Semiconductor Manufacturing Company Ltd. (TSM) overtook Broadcom Inc. (AVGO) inside the top 10. TSM rose 1 place to rank 8 from rank 9. AVGO fell 1 place to rank 9 from rank 8.
Arm Holdings plc American (ARM) was the steepest faller, dropping 21 places to rank 108 from rank 87. Mitsubishi UFJ Financial Group, Inc. (MUFG) was the strongest climber, gaining 16 places to rank 69 from rank 85. ConocoPhillips (COP) gained 15 places to rank 94 from rank 109.
The Services-prepackaged Software sector had 4 fallers: Shopify Inc. (SHOP), Adobe Inc. (ADBE), SERVICENOW, INC. (NOW) and Salesforce, Inc. (CRM). SHOP fell 13 places. ADBE fell 10 places. NOW fell 9 places. CRM fell 7 places.
Other notable climbers included HDFC Bank Limited (HDB), Unilever plc (UL) and TotalEnergies SE (TTE), each of which gained 12 places. Bristol-Myers Squibb Co. (BMY) gained 10 places. Shell plc American (SHEL) and PDD Holdings Inc. American (PDD) each gained 9 places. Starbucks Corp (SBUX) fell 16 places, while Palo Alto Networks, Inc. (PANW) fell 14 and Booking Holdings Inc. (BKNG) fell 11. Goldman Sachs Group Inc. (GS) and ADBE each fell 10 places. Citigroup Inc. (C) fell 9 places, while Novo-Nordisk A/S (NVO), CRM and Morgan Stanley (MS) each fell 7.
CoreWeave, Inc. (CRWV) debuted at rank 515. BitMine Immersion Technologies, Inc. (BMNR) appeared at rank 915 as a universe-boundary addition. Aspen Technology Inc (AZPN) left the ranking from rank 597. Both the
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 947 US-listed companies by the market capitalization each one carried at the close of March 2025. The values do not change, because March 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 March 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 March 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.