Europe's most valuable company is not a bank: what does the 670-billion-dollar ASML produce?
Europe's most valuable public company has become the Dutch microchip manufacturing equipment supplier ASML. In the Visual Capitalist ranking, its market value is indicated at 670 billion dollars. However, in most European countries, the national stock market leaders are banks, financial, and energy companies.
The most expensive company in Europe is not a bank: what does the $670 billion ASML produce?
Why is ASML so expensive?
ASML holds a critical position in the semiconductor industry as it is the sole supplier of extreme ultraviolet (EUV) lithography systems used in the production of advanced microchips.
According to the ranking, it is the only technological company among the leaders of 42 countries. In terms of market capitalization, it ranks 20th in the world.
ASML's $670 billion valuation is nearly twice as high as the $342.4 billion value of the UK leader, HSBC bank, and the $341.5 billion value of the Swiss leader, Roche.
Europe's previous leader lost more than 70 percent of its value
Denmark's Novo Nordisk was Europe's most expensive company in 2024. At that time, its market value exceeded $650 billion.
In the new ranking, the capitalization of the manufacturer of Ozempic and Wegovy drugs is indicated at $168.6 billion. This is a decline of more than 70 percent compared to the previous peak.
The article explains this change by the fact that Eli Lilly's competing drugs Mounjaro and Zepbound are expanding their market share. Nevertheless, Novo Nordisk remains Denmark's most expensive company.
Banks lead in many countries
In 15 European countries, the company with the largest market value is a bank. If insurance and investment companies are also included, the financial sector leads in 18 countries.
In another 10 countries, the first place belongs to energy and utility companies. This means that the financial and energy-utility sectors account for 28 out of the 42 national leaders.