Largest Companies by Market Cap - May 2025
How these values were calculated
- Reconstructed, not recorded
- The share counts in force at the close of May 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 May 2025 carries the largest error. Months recorded while their inputs were current carry no marker.
Swipe or scroll the table sideways for more columns.
What changed in this ranking
AI-generated summary by Rhea-AI, written on . How Rhea-AI works.
Compared with the close of April 2025, the ranking at the close of May 2025 was materially reshaped. Both periods were reconstructed, so the comparison uses reconstructed boards. The biggest move came from Applovin Corporation (APP), which climbed 49 places from rank 142 to rank 93. Vertex Pharmaceuticals Inc (VRTX) fell 24 places, from rank 91 to rank 115. Sanofi (SNY) fell 20 places, from rank 89 to rank 109. Thermo Fisher Scientific Inc. (TMO) fell 18 places, from rank 63 to rank 81.
Software was a bright spot: Shopify Inc. (SHOP), Intuit Inc (INTU) and Adobe Inc. (ADBE) all climbed. Walt Disney Company (DIS) rose 16 places, moving from rank 67 to rank 51. Texas Instruments Incorporated (TXN), Caterpillar Inc. (CAT) and SHOP each climbed 12 places. GE Aerospace (GE) rose 11 places, from rank 45 to rank 34.
The top of the ranking also changed. Microsoft Corp (MSFT) rose to No. 1 from No. 2. Apple Inc. (AAPL) fell to No. 3 from No. 1. Nvidia Corp (NVDA) rose to No. 2 from No. 3; MSFT and NVDA both passed AAPL. Walmart Inc. (WMT) rose to No. 10 from No. 11. It passed Eli Lilly and Company (LLY) in the process. No companies joined the ranking. Discover Financial Services (DFS) left after holding rank 283 in April, while Figma, Inc. (FIG) left after holding rank 718. BitMine Immersion Technologies, Inc. (BMNR) was absent at the universe boundary.
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 May 2025. The values do not change, because May 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 May 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 May 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.