The Biggest Companies in Europe

There are thousands of companies listed across more than 50 stock exchanges in Europe. But which of these are the largest? In this article, we’ll take a look at the biggest companies in Europe, firstly in terms of market capitalisation and then by revenue.

The information in this article is provided for educational purposes only and does not constitute financial advice. Consult a financial advisor before making investment decisions.

The European Stock Market 

There are more than 50 stock exchanges of various sizes across the European continent. Below, we have listed the top five exchanges by market cap in descending order at the time of writing (10 November 2025). 

• London Stock Exchange 
• Euronext Paris 
• Deutsche Börse (Frankfurt) 
• SIX Swiss Exchange (Zurich) 
• Borsa Italiana (Milan) 

The Largest European Companies by Market Cap

In the following sections, we’ll take a look at each of the top 10 largest companies in Europe by market cap. 

ASML

ASML is currently the largest company in Europe in terms of market cap.  

Founded in 1984, ASML is a Dutch technology company. It is the world’s only producer of extreme ultraviolet photolithography machines, which are essential for producing the most advanced computer chips. 

Consequently, it is an irreplaceable part of the global semiconductor supply chain, and its technology is vital for industries such as consumer electronics, artificial intelligence and data-centres. 

Amongst its major customers, ASML counts Taiwan Semiconductor Manufacturing Company (TSMC), Samsung and Intel. In the year ended 31 December 2024, ASML’s total net sales rose 2.6% to €28.26 billion, whilst operating profit remained relatively flat at €9.02 billion. 

LVMH

LVMH Moet Hennessy Louis Vuitton is a French multinational conglomerate which specialises in luxury goods.

As well as its namesakes, LVMH owns a vast range of other prestigious brands spanning clothing, jewellery, wines and spirits, including Dom Pérignon, TAG Heuer, Tiffany & Co. and many others.

In 2024, revenue dropped 1.7% to €84.68 billion, whilst operating profit fell more steeply by 14% to €19.57 billion. 

Prosus

Prosus is an investment group which is one of the largest technology investors in the world. It was spun off from South African company Naspers in 2019 and listed on the Euronext Amsterdam, with Naspers retaining a majority stake. 

It holds a number of major investments in a range of technology companies, including JustEat, Remitly, PayU and Stack Overflow. However, its most significant holding is a considerable minority stake in Tencent, the Chinese technology giant. 

SAP

SAP is a German software company which is a global leader in enterprise resource planning (ERP) software, used to help manage business operations and customer relations. 

Besides the ERP software for which it is best known, SAP also sells database software and cloud-engineered systems.  

In its full-year 2024 results, SAP’s total revenue rose 10% to €34.18 billion; however, due to high restructuring costs, operating profit sank 20% to €4.67 billion.

AstraZeneca

AstraZeneca is a pharmaceutical and biotechnology company which is currently the largest company in the UK. 

It produces a range of products but is probably best known for its role in developing the Oxford-AstraZeneca Covid-19 vaccine that was used around the world during the coronavirus pandemic. Besides the Covid-19 vaccine, the company has a wide line up of products in areas including oncology, diabetes and respiratory diseases.  

Recently, AstraZeneca shareholders voted to list the company’s shares directly on the New York Stock Exchange (NYSE), replacing its American Depositary Receipts (ADRs), whilst retaining its primary listing on the London Stock Exchange (LSE). 

In its results for 2024, AstraZeneca’s revenue rose 18% to $54.07 billion and operating profit rose 22% to $10.00 billion. 

Hermès

Hermès is a French luxury designer, operating a number of goods divisions which include leather goods, watches, perfume and beauty, and silk and textiles. 

In its full-year 2024 results, Hermès’s revenue grew 13% to €15.17 billion and operating income rose 9% to €6.15 billion. 

HSBC

HSBC is a UK banking and financial services company which operates in 57 countries around the world.  

The bank traces its origins back to 1865, where it was established as the Hongkong and Shanghai Banking Corporation (HSBC), taking its name from where operations began. Today, the Hongkong and Shanghai Banking Corporation is a wholly owned subsidiary of HSBC Holdings which also owns HSBC UK Bank and other subsidiaries. 

In 2024, HSBC’s revenue remained relatively flat at $65.85 billion, whilst operating profit dropped 2.5% to $29.40 billion. 

Siemens

Siemens is a German technology conglomerate, operating through four main segments: 

• Digital Industries: Provides automation, software and digital solutions. 
• Smart Infrastructure: Building and energy systems. 
• Mobility: Transportation solutions. 
• Siemens Healthineers: A majority owned subsidiary specialising in medical technology. 

In its fiscal year 2024, Siemens’s revenue rose 1.4% to €75.93 billion and Income from continuing operations before income taxes rose by 0.9% to €11.23 billion.

L'Oréal

L’Oréal is a French consumer goods group and the largest cosmetics manufacturer in the world. Amongst its brands, L’Oréal counts Maybelline, Garnier and Ralph Lauren Fragrances. 

In its full-year 2024 results, net sales rose 5.6% to €43.49 billion and operating profit grew 6.7% to €8.25 billion. 

Shell

Shell is a UK oil and gas major which operates in every area of the oil and gas industry, including exploration, production, refining and distribution.  

As well as oil and gas, in recent years Shell has invested in expanding into clean energy, which it operates through its Renewables and Energy Solutions segment.  

In the year ended 31 December 2024, Shell’s total revenue decreased by 11% to $289.03 billion and pre-tax income also dropped by 8% to $29.92 billion. 

The Biggest Companies in Europe by Revenue

So, now we have seen the biggest European companies in terms of market capitalisation, what about revenue?

The table below reveals the largest companies in Europe by revenue, based on figures for full year 2024. You’ll note that this list is quite different to the one produced when looking at market cap. Indeed, there is only one company which appears in both of our lists.

Source: Volkswagen Group, Shell, Glencore, TotalEnergies, BP – Full-Year 2024 Results.

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