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Ranked: The Top 100 Brands by Value in 2023

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Ranked: The Top 100 Brands by Value in 2023

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Ranked: The Top 100 Brands by Value in 2023

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Brand value can be a critical part of any company’s intangible assets.

These kind of non-physical assets, such as patents and brand names, are having an increasing influence on a company’s overall value. A 2020 analysis found that intangibles made up 90% of the S&P 500’s market value, an increase of 22 percentage points since 1995.

This graphic shows the world’s 100 most valuable brands in 2023 based on an annual ranking from Brand Finance, illustrating the role brand equity plays in a company’s market position.

 

 

The Top 100 Companies, by Brand Value

Brand Finance examined over 5,000 companies (and in cases of groups like Alphabet and Meta, their subsidiary brands) across 38 countries.

Broadly speaking, a brand’s value represents the allocation of company earnings that are linked to the brand. More details on the methodology are found at the end of this article.

Here are the most valuable brands in 2023:

RankBrandBrand Value (B)CountrySector
1Amazon$299.3U.S.Retail
2Apple$297.5U.S.Tech
3Google$281.4U.S.Media
4Microsoft$191.6U.S.Tech
5Walmart$113.8U.S.Retail
6Samsung Group$99.7South KoreaTech
7ICBC$69.5ChinaBanking
8Verizon$67.4U.S.Telecoms
9Tesla$66.2U.S.Automobiles
10TikTok/Douyin$65.7ChinaMedia
11Deutsche Telekom$62.9GermanyTelecoms
12China Construction
Bank
$62.7ChinaBanking
13Home Depot$61.1U.S.Retail
14Facebook$59.0U.S.Media
15State Grid$58.8ChinaUtilities
16Mercedes-Benz$58.8GermanyAutomobiles
17Agricultural Bank
Of China
$57.7ChinaBanking
18Starbucks$53.4U.S.Restaurants
19Toyota$52.5JapanAutomobiles
20WeChat$50.2ChinaMedia
21Moutai$49.7ChinaSpirits
22AT&T$49.6U.S.Telecoms
23Disney$49.5U.S.Media
24Allianz Group$48.4GermanyInsurance
25Shell$48.2UKOil & Gas
26Instagram$47.4U.S.Media
27Bank of China$47.3ChinaBanking
28Costco$46.6U.S.Retail
29Aramco$45.2Saudi ArabiaOil & Gas
30Ping An$44.7ChinaInsurance
31Huawei$44.3ChinaTech
32China Mobile$43.4ChinaTelecoms
33BMW$40.4GermanyAutomobiles
34accenture$39.9U.S.Tech
35Oracle$39.6U.S.Tech
36Bank of America$38.6U.S.Banking
37Tencent$38.1ChinaMedia
38UnitedHealthcare$37.1U.S.Healthcare
Services
39McDonald's$36.9U.S.Restaurants
40Porsche$36.8GermanyAutomobiles
41NTT Group$36.6JapanTelecoms
42UPS$35.4U.S.Logistics
43Mitsubishi Group$35.0JapanAutomobiles
44Marlboro$34.7U.S.Tobacco
45Deloitte$34.5U.S.Commercial
Services
46American Express$34.1U.S.Commercial
Services
47Volkswagen$34.0GermanyAutomobiles
48Coca-Cola$33.5U.S.Soft Drinks
49Wells Fargo$33.0U.S.Banking
50CSCEC$31.9ChinaEngineering
& Construction
51J.P. Morgan$31.8U.S.Banking
52Lowe's$31.6U.S.Retail
53Chase$31.3U.S.Banking
54Nike$31.3U.S.Apparel
55Mitsui$30.7JapanEngineering
& Construction
56CVS$30.6U.S.Retail
57Citi$30.6U.S.Banking
58Taobao$30.5ChinaRetail
59Wuliangye$30.3ChinaSpirits
60YouTube$29.7U.S.Media
61PetroChina$29.6ChinaOil & Gas
62VISA$29.6U.S.Commercial
Services
63FedEx$28.9U.S.Logistics
64Xfinity$28.8U.S.Telecoms
65Target$27.6U.S.Retail
66Tmall$27.4ChinaRetail
67Hyundai Group$27.3South KoreaAutomobiles
68Sinopec$27.1ChinaOil & Gas
69Tata Group$26.4IndiaEngineering
& Construction
70Louis Vuitton$26.3FranceApparel
71IBM$26.2U.S.Tech
72EY$25.7UKCommercial
Services
73PWC$25.3U.S.Commercial
Services
74Mastercard$24.8U.S.Commercial
Services
75China Merchants
Bank
$24.5ChinaBanking
76Honda$24.2JapanAutomobiles
77Netflix$24.2U.S.Media
78Cisco$23.9U.S.Tech
79Sumitomo Group$23.9JapanTrading Houses
80Spectrum$23.3U.S.Telecoms
81Uber$23.3U.S.Mobility
82Intel$22.9U.S.Tech
83Dell Technologies$22.6U.S.Tech
84SK Group$22.5South KoreaTelecoms
85Nestlé$22.4SwitzerlandFood
86Ford$22.3U.S.Automobiles
87TSMC$21.6TaiwanTech
88Walgreens$21.6U.S.Retail
89Siemens Group$ 21.4GermanyEngineering
& Construction
90LG Group$21.3South KoreaTech
91SAP$21.1GermanyTech
92TotalEnergies$20.7FranceOil & Gas
93TD$20.4CanadaBanking
94Optum$20.1U.S.Healthcare
Services
95Elevance Health
(formerly Anthem)
$19.9U.S.Healthcare
Services
96HSBC$19.9UKBanking
97CREC$19.8ChinaEngineering
& Construction
98CHANEL$19.4FranceApparel
99General Electric$19.3U.S.Engineering
& Construction
100Salesforce$19.1U.S.Tech

Amazon ranks number one globally with its brand valued at $299 billion. As a market leader in online retail, it has strong brand loyalty in its B2C segment which generates its largest share of revenue, and is a key player in cloud services for its B2B platforms.

Apple is in close second with a $298 billion brand. It’s important to note that both tech giants brands fell in value from last year, as supply chain disruptions, labor market constraints, and slower forecasted revenue impacted their brands.

Other big tech brands Google (#3) and Microsoft (#4) were next in the ranking. Korean conglomerate Samsung (#6) was the highest-ranking firm based outside of America.

 

 

Brand Value: Leading Sectors in 2023

Looking at brand value based on sector, we can see that tech continues to dominate. The sector breakdown below uses data from the top 500 brands covered by Brand Finance.

RankSector% of TotalTotal Brand Value (B)
1Tech19.4%$891.2
2Retail 15.0%$690.0
3Media14.0%$645.2
4Banking10.2%$467.4
5Automobiles8.6%$397.3
6Telecoms7.3%$334.6
7Commercial Services3.8%$174.0
8Oil & Gas3.7%$171.0
9Engineering & Construction3.3%$149.5
10Insurance2.0%$93.0
11Restaurants2.0%$90.3
12Spirits1.7%$80.0
13Healthcare Services1.7%$77.1
14Apparel1.7%$77.0
15Logistics1.4%$64.3
16Utilities1.3%$58.8
17Tobacco0.8%$34.7
18Soft Drinks0.7%$33.5
19Trading Houses0.5%$23.9
20Mobility0.5%$23.3
21Food0.5%$22.4

Overall, the top tech brands were worth a combined $891 billion largely thanks to the outsized influence of Apple, Microsoft, and Samsung.

After retail and media, the banking sector still held significant brand sway at $467 billion. Automobiles rounded out the top five sectors at $397 billion, led by companies like Tesla and Mercedes-Benz.

The Fastest Rising Brands in 2023

While some brands such as Apple and Amazon fell in value over the last year, others have increased their brand value.

Below, we show the fastest rising brands across the top 500 around the world:

RankNameBrand Value % Change (2022-2023)
1BYD57%
2ConocoPhillips56%
3Maersk53%
4LinkedIn49%
5Christian Dior46%
6Tesla44%
7ADP44%
8United Airlines42%
9Instagram42%
10Equinor40%

BYD, a leading electric vehicle (EV) firm in China, jumped the sharpest. Focused on budget EVs and backed by Warren Buffett, it has become a growing competitor to Tesla, and is the second-largest producer of lithium-ion batteries globally.

Energy firm ConocoPhillips saw the second-largest gain in brand value, driven by its focus on energy transition fuels, cutting production emissions, and lowering supply costs.

Following a series of difficult years for the airline industry, United Airline’s brand value increased 42% as travel demand accelerated.

As the economic landscape continues to shift, the value of these brands will shift as well.

Where does this data come from?

Source: Brand Finance Global 500 Report

Important note: The values shown above are brand value calculations as opposed to market capitalization. See below for more details.

How is brand value calculated? Generally speaking, the methodology for calculating “brand value” is a formula that is as follows:

Brand Strength (BSI) x Brand Royalty Rate x Brand Revenues = Brand Value

Brand Strength Index (BSI) looks at brand investment, brand equity, and brand performance. The brand royalty rate is determined based on sector. Lastly, forecast brand-specific revenues are determined based on the proportion of parent company revenues attributable to the brand in question. Brand value itself is discounted to net present value.

We recommend visiting page 83 of the report to view the full explanation of the methodology.

 

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Retail

The World’s Top Retail Companies, by Domestic Revenue

As price pressures and e-commerce reshape shopping behaviors, we show the top retail companies by domestic revenue around the world.

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This circle graphic shows the world's top retail companies by domestic revenue.

The World’s Top Retail Companies, by Domestic Revenue

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.

The retail sector plays a vital role in powering economies, contributing $5.3 trillion annually to America’s GDP alone.

Moreover, the industry is America’s biggest private-sector employer, responsible for one of every four jobs, or 55 million employees. Yet in today’s challenging consumer environment, retailers are facing higher e-commerce penetration and inflationary pressures—across an industry notoriously known for razor-thin margins.

This graphic shows the world’s top retail companies by domestic revenue, based on data from the National Retail Federation.

Methodology

To be included in the rankings, companies must engage in a goods-for-consumer resale business accessible to the public and have direct selling operations in a minimum of three countries.

The rankings include both publicly and private companies, and are based on the most recent 52-week period analyzed by the National Retail Federation between January and March 2024. All revenue figures were converted to U.S. dollars.

Ranked: The Top 10 Global Retailers by Domestic Sales

Here are the leading retailers worldwide based on domestic sales as of 2023:

RankingRetailerDomestic Retail Revenue
(USD)
Share of Total Retail RevenueHeadquarters
1Walmart$532.3B85%🇺🇸 U.S.
2Amazon.com$250.0B70%🇺🇸 U.S.
3Costco$175.4B75%🇺🇸 U.S.
4The Home Depot$142.0B94%🇺🇸 U.S.
5Walgreens Boots Alliance$105.1B89%🇺🇸 U.S.
6Alibaba$91.5B97%🇨🇳 China
7Apple$70.9B87%🇺🇸 U.S.
8Aeon$64.3B93%🇯🇵 Japan
9Schwarz Group$56.5B32%🇩🇪 Germany
10Rewe$55.5B75%🇩🇪 Germany

Walmart towers ahead as the world’s largest retailer with $532 billion in domestic revenue—more than Amazon.com and Costco combined.

Known for its everyday low prices, Walmart achieves a competitive advantage through pricing goods approximately 25% cheaper than traditional retail competitors. Overall, groceries make up more than half of total sales. While its main customer base is often low and middle-income shoppers, the retail giant is seeing a surge in sales from higher-income customers as shoppers seek out lower grocery prices.

E-commerce giant, Amazon, is the second-biggest retailer globally, commanding nearly 40% of online retail sales in America. Since 2019, the number of Amazon employees has grown from 800,000 to over 1.5 million in 2023.

While the company has tried to introduce online grocery platforms to the market, it has largely fallen flat given its clunky system in a highly competitive market.

Like Amazon, China’s e-commerce juggernaut, Alibaba, stands as a leading global retailer. Overall, 97% of revenues were generated domestically through online marketplaces Taobao and Tmall. In recent years, the company has focused on international expansion, delivering products to 11 markets including America, in just five days.

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