1、May 2023Global Top 100 companies-by market capitalisationPwC|Global Top 100 companies-by market capitalisationContents2HighlightsSupplementary analysisMethodologyComplete ranking03101416PwC|Global Top 100 companies-by market capitalisationHighlights3 3PwC|Global Top 100 companies-by market capitalis

2、ationFirst significant Year-on-Year(YoY)decline since 2009 Market Capitalisation for the Top 100 companies decreased by 11%($3,845bn)compared to 31 March 2022,the first significant decrease since 2009(-38%).A strong Q1-23 for equity markets,despite turbulence in the Banking sector,wasnt sufficient t

3、o reverse losses recorded earlier in the year with a fall in investor confidence and the tightening of fiscal policies globally amongst the key factors putting equity valuations under pressure.Highlights4This publication analyses the Global Top 100 companies(by market capitalisation,as at 31 March 2

4、023),highlighting the changes in the composition of the list at 31 March 2022 and other relevant periods.As a point of reference,despite a strong Q1-23,the MSCI World Index decreased by 8.6%in the year to 31 March 2023 following a challenging period for global markets.Europe the only region with YoY

5、 growth Despite a volatile macroeconomic backdrop,Europe experienced YoY growth-the only region to do so-with total market capitalisation increasing$341bn(9.5%),moving up to the second spot in the regional list.This was attributable to four new entries to and some outstanding YoY performers,includin

6、g Novo Nordisk(+40%).The US saw a 12%($2,969bn)decline in market capitalisation,though retained its number one spot in the regional list.Sector dynamic-A rotation from growth and cyclical stock to more defensive sectors Despite a surprising rally in Q1-23 for technology,the sector recorded an 8%YoY