Top 10 largest UK companies by market cap
The UK economy offers plenty of opportunities for traders, from large blue chip stocks to penny stocks. Discover the 10 largest companies by market cap in the UK, and how you can trade their share price movements.
What are the biggest UK companies by market capitalisation?
| Company | Sector | Market cap1 | EPS1 | Dividend yield1 | ROE1 | |
| 1 | AstraZeneca | Pharmaceuticals | £191.9 billion | 3.23 | 1.8% | 17.29% |
| 2 | Shell | Oil and gas | £188 billion | 2.18 | 3.6% | 9.54% |
| 3 | HSBC | Financials | £131 billion | 0.92 | 7% | 12.3% |
| 4 | Unilever | Food producers | £103 billion | 2.2 | 3.4% | 33.6% |
| 5 | Rio Tinto | Mining | £95 billion | 4.91 | 6% | 18.3% |
| 6 | BP | Oil and gas | £85 billion | 0.68 | 4.5% | 18.9% |
| 7 | GSK | Pharmaceuticals | £74 billion | 1.2 | 3.3% | 46.4% |
| 8 | Relx | Industrials | £64.9 billion | 0.94 | 1.7% | 49.7% |
| 9 | Diageo | Beverages | £63.4 billion | 1.49 | 2.9% | 36.4% |
| 10 | British American Tobacco | Tobacco | £54.2 billion | -6.5 | 9.6% | -22% |
* Table updated May 2024. Please note the order may change in line with market fluctuations.
All of the largest UK companies are constituents of the FTSE 100 – which tracks the top 100 stocks on the London Stock Exchange.
The UK’s economy is currently the sixth largest in the world – behind the US, China, Japan, Germany and India. The biggest companies in the UK can give you insights into the nation’s economy – including its health and which sectors it’s reliant upon. For example, the top 10 are split between mining, pharmaceuticals, non-cyclical consumer goods and financials.
How to trade the largest companies in the UK
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You can take a position on the largest companies in the UK using CFDs or spread bets. As they’re derivatives, you can speculate on any underlying price movements without taking ownership of the shares. So, you can take a position on prices rising and falling market prices – known as going long and short.
Alternatively, you can buy and take ownership of these stocks via a share dealing account. This makes you eligible for voting rights and to receive dividends if the company grants them.
Learn about the best dividend paying stocks in the UK
To find out more about the companies on our list, click the names on the list below:
AstraZeneca (£191.9 billion)
Pharmaceutical giant AstraZeneca was formed in 1999 after the merger between Astra AB and Zeneca Group. Since then, it has remained one of the largest pharma companies in the world and it was at the forefront of the drive to develop a Covid-19 vaccine.
First quarter revenues rose 19% to $12.7 billion, thanks to an 18% increase in product sales, while the company also saw double-digit growth in oncology product sales - up 26%. Core EPS increased 13% to $2.06, while AstraZeneca also reported positive trial data from its lung cancer drug Tagrisso. Analysts at broker Berenberg Bank think the shares could reach £130.
Shell (£188 billion)
Shell is a leading energy company which operates across 6 continents. Founded in 1907, the British company offers a range of products including chemicals, natural gas and oil. It also generates electricity using sustainable methods such as wind and solar energy, which contribute to the company’s goals of reaching net zero by 2050.
In its recent first quarter results adjusted earnings came in at $7.7 billion for the period, due to a strong performance across the company, while Shell has initiated a $3.5 billion share buyback programme.
Analysts at broker Barclays currently have a price target of 3,800p.
HSBC Holdings (£131.4 billion)
HSBC is one of the largest banking and financial services institutions in the world – serving more than 42 million customers in 66 countries. It specialises particularly in operating in the Asian markets.
In the first quarter, profit before tax at the bank decreased by $200 million to $12.7 million. This figure included a $4.8 billion gain following the sale of its Canadian division and a $1.1bn impairment following the classification of its business in Argentina. However, revenue increased by $600 million or 3% to $20.8 billion.
Analysts at broker Berenberg Bank think the shares could reach 830p.
Unilever (£107.2 billion)
Unilever has been a household brand since 1929, when it was founded through the merger of soap maker Lever Brothers and margarine company Margarine Unie. It is a multi-layered business with more than 400 brands, including food, home and personal care products.
In its recent first quarter trading statement, Unilever grew turnover by 1.4% €15.0 billion with (2.0)% impact from currency. On an underlying basis, sales grew by 4.4%. All five of its business groups reported underlying sales growth, led by Beauty & Wellbeing. Meanwhile, the company has unveiled the separation of its ice cream business and the launch of a major productivity programme to boost growth. Unilever expects underlying sales growth of 3% to 5% and a modest improvement in its underlying
operating margin for 2024.
Rio Tinto (£95.7 billion)
Rio Tinto is a mining company based in London, with operations in Australia, Canada, South Africa and Iceland, among other countries. It was founded in 1873 and has since undergone many changes by means of several mergers and acquisitions. Rio Tinto is listed on three exchanges – the LSE, the Australian Securities Exchange (ASX) and the NYSE – all under the RIO ticker.
In the recent full year results, the company unveiled production growth of 3%, and underlying EBITDA (earnings before interest, tax, depreciation and amortisation) of $23.9 billion (down 9%) and profit after tax of $10 billion (down 19%). Rio also generated net cash from operating activities of $15.2 billion.
Analysts at broker Barclays think the shares could reach 6,000p.
BP (£85 billion)
BP is a hugely successful oil and gas company, dating back to 1909. BP now has operations in five continents and produces more than 3.8 million barrels of oil per day.2 As the demand for energy changes and increases, BP aims to build its infrastructure to meet these needs.
First quarter adjusted EBITDA fell to $10.3 billion from $13 billion in the same period last year. Meanwhile, upstream production rose by 2.1% compared to the first quarter of 2023, while the new Azeri Central East platform in the Caspian Sea is coming online. BP is targeting $2 billion in costs savings and is also returning $3.5 billion to shareholders.
Analysts at broker Barclays think the shares could reach 1,000p.
GSK (£74.6 billion)
GSK - formerly GlaxoSmithKline - was formed from the merger of SmithKline Beecham and Glaxo Welcome in 2000 but its roots date back to the 1700s. It researches and produces new medicines, specialising in drugs to treat everything from HIV to cancer and producing vaccines to treat conditions such as shingles.
First quarter sales rose 10% to £7.4 billion, while sales excluding COVID-related products were up by 13%. Vaccine sales increased by 16% during the period, while speciality medicine sales rose by 17%. Pre-tax profits. However, operating profits fell by 18% to £1.5 billion due to lower royalties from HPV vaccine Gardasil.
The drug giant says it expects 2024 turnover growth towards the upper end of the 5% to 7% range and core operating profit growth of 9% to 11% (previously 7% to 10%).
Analysts at broker Deutsche Bank have a price target of 1,950p on the shares.
Relx - £64.9 billion
Relx is a data analytics company based in London. Incorporated in 1903, it provides decision tools and operates in the medical, scientific, risk, legal and exhibition sectors.
Last year the company grew revenues by 7.1% from £8.6 billion to £9.2 billion and net income by 9% to £1.6 billion to £1.8 billion thanks to cost reductions.
Analysts at broker Barclays have a target of 2,860p on the shares.
Diageo (£63.4 billion)
Diageo (DGE) is an alcoholic beverage company, formed in London in 1997. It has more than 200 brands, including Smirnoff, Johnnie Walker and Guinness, which it sells in 180 countries around the world. Its biggest revenue producers are scotch (25%) and beer (16%).
Last year the company was hit by the sudden death of its former chief executive Ivan Menezes and disappointing sales in its Latin American markets. In the recent half-year results, net sales fell by 1.4% or $158 million to $11 billion due to this and currency fluctuations. However, excluding the Latin American market, reported net sales grew by 0.7%.
British American Tobacco (£54.2 billion)
Founded in 1902, British American Tobacco (BATS) has changed significantly over the past 100 years. The company's focus has shifted to creating reduced-risk products using new technology and sustainable practices. BAT is the largest tobacco manufacturer in the world in terms of net sales, delivering its products to more than 180 countries.
The company reported losses of £15.8 million for 2023 (from a £10 million profit last year) due to £22 billion in non-cash impairment charges relating to its US brands and other goodwill impairment charges relating to its US, South African and Peruvian businesses. Excluding these charges, adjusted operating profits increased by 3.1% before currency fluctuations.
Top UK companies by market cap summed up
These are just a selection of the largest companies in the UK. Always do your own research and remember that large companies can also fail. Past performance is not a guide to future returns.
Trade and invest in over 17,000 UK, US and global shares from zero commission with us, the UK’s No.1 trading provider.* Learn more about trading or investing in shares with us, or open an account to get started today.
*Based on revenue excluding FX (published financial statements, October 2021).
Footnotes
1 Data from Marketbeat.com
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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