SAP has ascended to the position of Europe's most valuable company. By the end of June, the Walldorf-based software giant ranked 27th worldwide with a market capitalization of $354 billion, according to an analysis released Thursday by consulting firm EY.
In the first half of the year, SAP's share price surged by 24 percent. This growth propelled the company past Danish pharmaceutical group Novo Nordisk, known for its weight-loss drug Wegovy, and French luxury conglomerate LVMH.
Among the "Top 100" most valuable companies globally, Germany is represented by two other firms: Siemens, which climbed from 94th to 74th place with a market value of $199 billion since the end of 2024, and Deutsche Telekom, ranking 88th with a capitalization of $177 billion. Two German high-flyers have broken into the "Top 300": Defense company Rheinmetall more than tripled its market value in the first half of the year to $96 billion, securing the 204th spot, while Siemens Energy doubled its capitalization to $91 billion, ranking 217th. Once the pride of German industry, automakers now lag far behind: Mercedes-Benz, at 381st place, remains the most valuable among them.
Globally, U.S. technology firms continue to dominate the stock markets. At the top, however, Apple has been overtaken by AI chipmaker Nvidia, whose market value jumped another 17 percent from January to June, reaching $3.85 trillion. Apple, meanwhile, was also surpassed by Microsoft, which now boasts a market capitalization of $3.70 trillion following a 19 percent drop in Apple's share price. Among the "Top 10," only Saudi oil giant Aramco, ranked seventh, is not a U.S. company. Of the "Top 100," 60 are from the United States, while Asia and Europe each contribute 19 companies.
(Reporting by Alexander Hübner, edited by Myria Mildenberger. For inquiries, please contact our editorial teams at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for business and markets).)
