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Fortune 500 Europe 2025 Highlights

On October 31, 2025, Fortune released its anticipated Fortune 500 Europe ranking, showcasing the continent's leading businesses. Volkswagen claims the top spot yet again, recording a revenue of $351 billion, marking a slight revenue increase of 1% compared to the previous year. This impressive figure further extends Volkswagen's lead over its nearest competitor, Shell, which experienced an 11% decline in revenue.

The overall revenue generated by European firms featured in this year's list reached an astounding $14.9 trillion, representing a 2.5% boost from last year. This growth indicates a remarkable resilience and innovation within the European corporate landscape as it navigates the complex economic environment. Companies on the list also employed approximately 35 million individuals, corresponding to a 4% increase or roughly 1.2 million new jobs from last year.

Despite this positive outlook in revenue and employment, profitability faced challenges. The average profit margin decreased from 7.1% to 6.6%, driven down by rising costs across various sectors, causing an overall profit dip of 5%. HSBC emerged as the leader in terms of profits with nearly $24 billion, joining a select group of only four companies that surpassed the $15 billion profit mark.

Rising Female Leadership

A notable trend in the 2025 ranking is the increase in female representation at the executive level. A total of 38 women serve as CEOs within this ranks, the highest number ever recorded for the Fortune 500 Europe list. Moreover, companies led by women reported a significant 12% increase in aggregate revenue, totaling $924 billion. Nevertheless, women still only helm 7.6% of the Fortune 500 companies, and some have recently indicated a transition back to male leadership.

Among the top 50, Engie, headed by Catherine MacGregor at number 37, remains the lone female-led company, highlighting ongoing gender disparities in corporate leadership.

Key Highlights from the Fortune 500 Europe 2025 Ranking

1. Volkswagen (Germany) - $351 billion
2. Shell (UK) - Revenue decline of 11%
3. Glencore (Switzerland)
4. TotalEnergies (France)
5. BP (UK)
6. Stellantis (Netherlands)
7. Mercedes-Benz Group (Germany)
8. BMW Group (Germany)
9. BNP Paribas (France)
10. Banco Santander (Spain)

The categories leading this year's ranking can be largely attributed to the energy, finance, and automotive sectors. Shell, Glencore, TotalEnergies, and BP comprise four of the top five companies, while Germany's industrial strength prominently showcases Volkswagen, Mercedes-Benz, and BMW.

Industry Resilience and Future Outlook

Patrick Pouyanné, TotalEnergies' CEO, reflects the industry's emphasis on sustainability by announcing plans to raise energy production significantly while aiming to minimize emissions, stating that their company is on track for a productive future amidst increasing demand.

Grethe Schepers, head of the European rankings at Fortune, emphasized that the Fortune 500 Europe list transcends mere rankings. It serves as an essential gauge of the performance of the most influential companies and acknowledges leadership that shapes the business landscape in Europe.

The release of this third edition aims to foster connections among top executives via journalism, events, and dialogue, enhancing European business leadership collectively.

In compiling the Fortune 500 Europe list, companies are ranked based on their total revenues from the most recent fiscal year available, all of which is public financial data. The methodology outlines the criteria for inclusion and revenue assessment, with transparent comparisons made to previous figures.

About Fortune

Fortune is a global media company known for its trusted journalism in the realm of business. With independence at its core, it narrates the journeys of the world's largest companies and the innovative leaders driving forward. Known for its various prestigious rankings, Fortune continues to elevate discourse around corporate responsibility. For more details, please visit fortune.com.