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The Most Valuable Companies in Major EU Economies



See this visualization first on the Voronoi app.

A map of the most valuable company in every major EU economy, by their market capitalization on April 15th, 2024

Most Valuable Companies in the EU, by Country

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

In this graphic, we mapped out the most valuable corporations in 11 major EU economies, based on their market capitalizations as of April 15th, 2024. All figures are in USD, and were sourced from

Novo Nordisk is currently worth more than $550 billion, making it Europe’s most valuable company by a wide margin. The pharmaceutical giant specializes in diabetes and weight-loss drugs. Demand for two of them, Ozempic and Wegovy, has surged due to their weight-loss capabilities, even causing nationwide shortages in the United States.

The following table includes an expanded list of the most valuable publicly-traded company in larger EU economies. Many of these were not included in the graphic due to space limitations.

CountryCompanySectorMarket Cap
🇩🇰 Denmark💊 Novo NordiskPharmaceuticals$562B
🇫🇷 France👜 LVMHLuxury Goods$422B
🇳🇱 Netherlands🔧 ASMLSemiconductor Equipment$382B
🇩🇪 Germany💼 SAPEnterprise Software$214B
🇮🇪 Ireland🖥️ AccentureIT Services$197B
🇪🇸 Spain👗 InditexRetail$147B
🇧🇪 Belgium🍻 Anheuser-Busch InBevBeverages$116B
🇸🇪 Sweden🛠️ Atlas CopcoIndustrial Equipment$80B
🇮🇹 Italy🏎️ FerrariAutomotive$76B
🇫🇮 Finland🏦 Nordea BankBanking$40B
🇦🇹 Austria🔌 Verbund AGEnergy$26B
🇱🇺 Luxembourg🏗️ TenarisOil & Gas Equipment$22B
🇨🇿 Czech Republic💡 CEZ GroupEnergy$20B
🇵🇱 Poland⛽ PKN OrlenEnergy$20B
🇵🇹 Portugal🔌 EDP GroupEnergy$16B
🇷🇴 Romania🔌 HidroelectricaEnergy$13B
🇬🇷 Greece🏦 EurobankBanking$7B
🇭🇺 Hungary⛽ MOL GroupEnergy$7B
🇭🇷 Croatia🏦 Zagrebacka BankaBanking$6B
🇸🇮 Slovenia💊 KrkaPharmaceuticals$4B

Note: Figures are rounded and last updated on April 15th, 2024. Countries with top publicly-traded companies worth under $4 billion are excluded.

Luxury supergiant LVMH—which owns brands like Tiffany, Christian Dior, and TAG Heuer to name a few—is Europe’s second largest company by market cap, at $420 billion.

Rounding out the top three is ASML, which produces equipment crucial to chip manufacturers, worth $380 billion.

ℹ️ The 🇬🇧 UK’s most valuable company is Shell ($232B).

When looking at the region, there is a vast disparity between EU member states and their most valuable companies.

For example, as mentioned earlier, Denmark’s Novo Nordisk and France’s LVMH are worth between $400-550 billion each. Meanwhile, some countries don’t even have a single publicly-listed company that is worth over $1 billion.

In fact, only 12 EU countries (less than half of the union) are home to the top 100 most valuable companies within the bloc. An additional four countries are represented if you look at the list of the top 200 companies.

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Ranked: Which NHL Team Takes Home the Most Revenue?

The Oilers are the second-highest earning team in the NHL and the Panthers are 26th. We show the top teams in the NHL by revenue in 2023.



Visualization of NHL team revenues

Which NHL Team Takes Home the Most Revenues?

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

This graphic shows every NHL team’s revenue from the 2022/23 season using data from Forbes, compiled by JP Morgan Asset Management.

Ranked: The Highest-Earning NHL Teams

As the final round of the Stanley Cup Playoffs wears on, two teams on different ends of the revenue spectrum face off.

Despite representing a much smaller city than the other teams at the top of the ranking, the Edmonton Oilers have the second highest revenue in the league at $281 million. The Oilers have seen the fastest revenue growth over the past five years (13%) as the team has improved.

Team2022-23 Season RevenueValuation
Toronto Maple Leafs$281M$2.8B
Edmonton Oilers$281M$1.9B
Los Angeles Kings$279M$2.0B
New York Rangers$265M$2.7B
Montreal Canadiens$265M$2.3B
New Jersey Devils$240M$1.5B
Boston Bruins$239M$1.9B
Vegas Golden Knights$233M$1.1B
Chicago Blackhawks$228M$1.9B
Philadelphia Flyers$219M$1.7B
Washington Capitals$218M$1.6B
Dallas Stars$210M$1.1B
Pittsburgh Penguins$207M$1.2B
Detroit Red Wings$199M$1.2B
Vancouver Canucks$198M$1.3B
Seattle Kraken$197M$1.2B
Tampa Bay Lightning$196M$1.3B
Minnesota Wild$185M$1.1B
St Louis Blues$184M$1.0B
New York Islanders$183M$1.6B
Calgary Flames$183M$1.1B
Colorado Avalanche$182M$1.2B
Nashville Predators$180M$1.0B
Carolina Hurricanes$177M$0.8B
Anaheim Ducks$164M$0.9B
Winnipeg Jets$162M$0.8B
Florida Panthers$161M$0.8B
Buffalo Sabres$159M$0.8B
San Jose Sharks$158M$0.9B
Columbus Blue Jackets$151M$0.8B
Ottawa Senators$128M$1.0B
Arizona Coyotes$120M$0.5B

In the 2022/23 season, the Florida Panthers pulled off a major upset in the first round of the playoffs and fought their way to the finals before losing to the Vegas Golden Knights.

Despite the success last season, the Panthers still find themselves in the bottom six in this ranking, with $161 million in revenue. The team also has the second lowest operating income in the league, after Ottawa. Florida is an emerging hockey market though, with revenue increasing 9% over the past five years.

Other Hockey Revenue Highlights

  • Along with the Oilers, the Toronto Maple Leafs sit at the top of the revenue ranking. There is a key difference though: the Maple Leafs have a higher valuation-to-revenue multiple (10x vs 6.6x).
  • Professional hockey remains attractive to advertisers. In the 2022/23 season, team-specific sponsorship revenue was 36% higher than in 2018/19.
  • The team with the lowest revenue, the Arizona Coyotes, will be moving to Utah next season.
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