Largest Companies in Germany by Revenue (2026)

Volkswagen is the largest company in Germany and, for the third consecutive year, the largest in Europe by revenue. Fortune records fiscal 2025 revenue of US$363.1bn, up 3.42% on the prior year in dollar terms, and a workforce of 628,893, the largest of any German company. Founded in 1937 and known for the Beetle, Golf and Passat, the Wolfsburg-based group has been controlled by the Porsche-Piëch family since the late 2000s.

BMW Group is Germany's second-largest company by revenue, reporting US$150.5bn for fiscal 2025, down 2.24% on the prior year in dollar terms. It employs 154,540 people. Headquartered in Munich, the group builds premium cars and motorcycles under the BMW, MINI and Rolls-Royce brands and operates worldwide. BMW moved ahead of Mercedes-Benz Group in the 2026 European ranking, placing seventh against Mercedes-Benz's eighth, a margin of about US$1.4 billion.

Mercedes-Benz Group reported fiscal 2025 revenue of US$149.1bn, down 5.29% on the prior year in dollar terms, and dropped one place to eighth in the Fortune 500 Europe. The Stuttgart company employs 158,324 people. It develops, produces and sells passenger cars and vans under the Mercedes-Benz, Mercedes-AMG and Mercedes-Maybach brands. It is distinct from Daimler Truck Holding, a separate company that builds trucks under the Mercedes-Benz brand and appears further down this ranking.

Deutsche Telekom is the largest German company outside the motor industry, with fiscal 2025 revenue of US$134.3bn, up 7.28% on the prior year in dollar terms, and 198,079 employees. The Bonn-headquartered group holds a dominant position in its home market, a strong presence in central and eastern Europe and a substantial business in the United States. It also runs a global business-to-business arm covering cloud services, data centres, cybersecurity and the internet of things.

Allianz is Germany's largest financial-services company by revenue. Fortune records fiscal 2025 revenue of US$134.0bn, up 8.80% on the prior year in dollar terms, and 156,875 employees, with headquarters in Munich. For insurers Fortune counts premium and annuity income, investment income and realised gains or losses, but not deposits. Allianz ranks 14th in Europe, immediately behind Deutsche Telekom, and is classified by Fortune under life and health insurance.

REWE Group is the largest German retailer in the Fortune ranking, with fiscal 2025 revenue of US$102.8bn, up 8.11% on the prior year in dollar terms, and 196,532 employees. Founded in 1927 by 17 buying cooperatives and based in Cologne, it operates REWE and PENNY supermarkets, BILLA in Austria and central and eastern Europe, toom DIY stores and the Lekkerland wholesale business. Its DERTOUR Group runs travel brands including DERTOUR and Kuoni.

Bosch is the largest privately owned company in Germany's Fortune ranking, with fiscal 2025 revenue of US$102.6bn, up 5.02% on the prior year in dollar terms. Its workforce of 412,774 is the fourth-largest of any German company on the list. Founded by Robert Bosch in 1886 and headquartered in Gerlingen, it is one of the world's largest suppliers of automotive components and also makes power tools, boilers, home appliances, industrial hydraulics and machinery.

DHL Group reported fiscal 2025 revenue of US$93.5bn, up 2.65% on the prior year in dollar terms, and employs 544,001 people, the second-largest workforce among German companies. The Bonn-based group took its current form after the privatised Deutsche Post acquired the US-founded courier DHL by 2002. Its core businesses are express delivery, freight forwarding, supply-chain services and warehousing, and e-commerce logistics, and Fortune describes it as Europe's largest logistics company.

E.ON is Germany's largest utility by revenue, with US$88.8bn for fiscal 2025, up 2.46% on the prior year in dollar terms, and 78,270 employees. The Essen-based group concentrates on energy networks and supply. Its supply business is centred on Germany, the United Kingdom and the Netherlands plus ten smaller markets, while its networks division mainly serves Germany. It also provides electric-vehicle charging, heat pumps, smart meters and on-site energy for industrial customers.

Siemens reported revenue of US$87.1bn for the fiscal year ended 30 September 2025, up 1.91% on the prior year in dollar terms, and employs 318,000 people. Founded in Berlin in 1847, where it keeps a registered office, it is officially headquartered in Munich. Its businesses span automation and digital industries, smart infrastructure, mobility and healthcare technology. It ranks 32nd in the Fortune 500 Europe, one place below E.ON.

Deutsche Bank is Germany's largest bank by Fortune-basis revenue, which combines gross interest income and non-interest income. It recorded US$71.6bn for fiscal 2025, down 2.83% on the prior year in dollar terms, with 89,879 employees. Licensed by the Prussian government in 1870, the Frankfurt bank operates in corporate banking, including the Postbank brand, investment banking, private banking and asset management through DWS.

BASF, the largest German chemicals company, reported fiscal 2025 revenue of US$71.5bn, up 1.33% on the prior year in dollar terms, and employs 108,251 people. Headquartered in Ludwigshafen, it supplies petrochemicals and plastics precursors, catalysts and battery materials, crop-protection products, and ingredients for cosmetics and food. Fortune describes it as the world's largest chemicals business outside China. It sits one place behind Deutsche Bank in the European ranking.

Munich Re Group reported fiscal 2025 revenue of US$69.8bn, up 4.02% on the prior year in dollar terms, making it Germany's second-largest insurer in the ranking after Allianz. The Munich-headquartered group employs 43,982 people and is classified by Fortune under property and casualty insurance. Its revenue is close to BASF's, while its workforce is less than half the size of the chemical group's.

Uniper reported fiscal 2025 revenue of US$68.8bn, down 8.70% on the prior year in dollar terms, the largest decline among Germany's top 25. With 7,053 employees it has the smallest workforce in this ranking, and its revenue per employee is the highest of the 25 companies. The Düsseldorf-based company is classified by Fortune under energy and ranks 55th in the European list.

Edeka Zentrale, the central organisation of the Edeka Group, reported fiscal 2025 revenue of US$63.5bn, up 8.62% on the prior year in dollar terms. Founded in 1907 and based in Hamburg, it works through independently run supermarkets trading under the Edeka name. Fortune lists 417,500 employees, the third-largest workforce among the German top 25, and classifies it as a food and grocery wholesaler.

Talanx, an insurance group headquartered in Hanover, reported fiscal 2025 revenue of US$56.6bn, up 13.25% on the prior year in dollar terms, one of the strongest growth rates among Germany's largest companies. It employs 29,899 people and is the third insurer in this ranking, after Allianz and Munich Re. Fortune classifies Talanx under property and casualty insurance and lists it 70th in Europe.

Daimler Truck Holding reported fiscal 2025 revenue of US$55.7bn, down 4.75% on the prior year in dollar terms, with 106,901 employees. Headquartered in Leinfelden-Echterdingen, it builds trucks and buses under brands including Mercedes-Benz and Setra. The company traces its origins to 1895, when the first motorised bus, built by Carl Benz, entered scheduled service. It is the fourth vehicle manufacturer in Germany's top 25.

Bayer is Germany's largest pharmaceuticals company by revenue, with US$51.4bn for fiscal 2025, up 1.99% on the prior year in dollar terms, and 88,078 employees. Founded in 1863 in Barmen, now part of Wuppertal, it is based in Leverkusen and operates in health care and agriculture. Its portfolio includes Aspirin and Berocca as well as Dekalb seeds. It ranks 81st in the Fortune 500 Europe.

Heraeus Holding recorded the fastest revenue growth in Germany's top 25, with fiscal 2025 revenue of US$48.7bn, up 53.25% on the prior year in dollar terms. The Hanau-based company is privately owned, is classified by Fortune under metals and employs 15,115 people. Its revenue per employee, about US$3.2 million, is several times that of the manufacturers ranked near it.

Lufthansa Group reported fiscal 2025 revenue of US$44.7bn, up 9.89% on the prior year in dollar terms, one of the higher growth rates in the German top 25, and employs 85,137 people. Headquartered in Cologne, it is classified by Fortune under airlines and is the only airline group among Germany's 25 largest companies. It ranks 97th in the Fortune 500 Europe, two places above ZF Friedrichshafen.

ZF Friedrichshafen, a privately held automotive supplier, reported fiscal 2025 revenue of US$43.8bn, down 2.17% on the prior year in dollar terms. Based in Friedrichshafen, it employs 145,909 people and is classified by Fortune under motor vehicles and parts, together with Volkswagen, BMW, Mercedes-Benz, Bosch and Daimler Truck. It ranks 99th in Europe.

Siemens Energy reported revenue of US$43.1bn for the fiscal year ended 30 September 2025, up 15.40% on the prior year in dollar terms, among the faster growth rates in the German top 25. The Munich-based company employs 100,990 people and is classified by Fortune under energy. It is a separate company from Siemens AG, ranked tenth above, and shares its September fiscal year end. It ranks 101st in the Fortune 500 Europe.

SAP is the only software company in Germany's top 25 and the only company in the whole 2026 Fortune 500 Europe classified under computer software. It reported fiscal 2025 revenue of US$41.5bn, up 12.31% on the prior year in dollar terms, and employs 110,650 people at its Walldorf headquarters and elsewhere. Its growth rate was the fourth-highest in the German top 25, behind Heraeus, Siemens Energy and Talanx.

DZ Bank reported fiscal 2025 revenue of US$40.1bn on Fortune's banking definition, down 7.20% on the prior year in dollar terms, and employs 34,567 people. Headquartered in Frankfurt, it is the central institution of the Volksbanken Raiffeisenbanken cooperative financial network, which Fortune describes as serving more than 700 cooperative banks, and it also acts as a commercial bank for corporate and institutional customers. Fortune classifies it as a private company.

Energie Baden-Württemberg, known as EnBW, reported fiscal 2025 revenue of US$38.8bn, up 3.89% on the prior year in dollar terms, and employs 29,728 people. The Karlsruhe-based utility is the second utility in Germany's top 25 after E.ON and ranks 113th in the Fortune 500 Europe. RWE, another Essen-based utility, ranks much lower in 2026, with revenue of US$19.9 billion.