(BFM Stock Exchange) – The market capitalization of the first 100 world companies exceeded $ 42,000 billion in late March 2025. This is a new record. But the progression of these heavyweights has slowed down under the effect of geopolitical uncertainties and a more moderate appetite for the actions of tech giants.

Stock market behemoths are still as powerful. This is shown by the latest edition of the “Global Top 100 Companies by Market Capitalization” study, carried out by the Consulting and Audit Cabinet PWC

At the end of March 2025, the 100 best -valued groups in the world collectively weighed $ 42.600 billion, against 39,971 billion in March 2024. A new record therefore fell, with this increase of 7%.

However, the dynamics were clearly out of breath from one year to the next. In 2024, the stock market weight of these giants had expanded by 27% or the equivalent of 8,438 billion dollars.

“In the past twelve months, the market capitalization of the 100 largest companies has reached a new summit, although the growth rate is slower than the previous year and the feeling of investors towards technological actions and IA has been moderate. More recently, geopolitical and macroeconomic uncertainties have led to considerable volatility of the TOP 100 shares”, note Philippe Kubisa Capital at Pwc France and Maghreb.

The firm also identified the entry of 13 new companies in the Top 100. This implies that 87 companies have retained their place in this Top 100, whose threshold to appear there, increased by 8% to reach $ 152 billion.

“America First”

The ultra-domination of American groups on the finance planet remains intact. As of March 31, the United States outrageously this record, with ratings of the rating saw their stock market weight increased by 8 by one year, to collectively weigh $ 31.100 billion. And it’s 73% of global capitalization.

However, the context was not favorable to American technological giants. The “Seven Magnificent”, the group made up of the main American companies (Alphabet, Apple, Amazon, Meta, Microsoft to which Tesla and Nvidia added), has seen its market capitalization of 10% to 15,000 billion dollars, a considerably slower development compared to the 50% over the last period, notes PWC.

These actions were harshly tested by Donald Trump customs announcements in early April ,. These stars on the side were also penalized by a more general movement of leakage of investors of American actions to other titles, including European titles.

However, the companies of the old continent present in this top 100 of the best valued groups in the world, have seen their collective capitalization fall by 13.6%, after the release of two companies in the Top 100.

The winning return of China

The companies in China and its region have taken their revenge and recover their second lost place last year. The listed Chinese companies present in this Top 100 saw their valuation of 51% to 3.100 billion dollars, which made it possible to “enter three new companies in the Top 100.”, specifies PWC.

With his only representative Saudi Aramco, in this top 100 (1.700 billion dollars), Saudi Arabia therefore returns third. Another novelty of this ranking, the awakening of the United Kingdom which has won a place to find accommodation at the foot of the podium. The market capitalization of the British top 100 increased from 9% to 866 billion dollars, with 4 new companies that have entered this ranking.

This movement favorable to British actions was done at the expense of France which fell in fifth in this ranking ($ 780 billion).

Germany and Japan are returning to the top 10, to point the 8th and 9th place respectively to India which appears in the 10th row.

The less toned technological sector

In terms of activity sectors, technology in the broad sense (including specialists in semiconductors, electronics or payments) is still dominant in this top 100, with 22 representatives.

It now represents 33% of the total capitalization of companies in this world ranking, a combined market capitalization of $ 13.900 billion. However, the market capitalization of these companies only increased by 5.3%, far from the 50% of the increase observed in 2024.

PWC attributes this slowdown to a more “moderate” feeling of investors towards technological actions and artificial intelligence (AI). In 2024, these same actions had benefited from an increase in demand due to the rapid AI developments.

The financial sector regains its letters of nobility and has become the most dynamic this year. This sector has also recorded the highest absolute increase in market capitalization, with an increase of 39 % during the year. The health sector is represented by 13 companies followed by discretionary consumption with 12 companies present in this Top 100.