Largest European Companies by Revenue (2026)

Volkswagen has been Europe's largest company by revenue for three consecutive years. Its fiscal 2025 revenue rose 3.4% to US$363.1bn, and it employs 628,893 people, the largest workforce on the list. The Wolfsburg group dates from 1937, built its reputation on the Beetle, Golf and Passat, and has been controlled by the Porsche-Piëch family since the late 2000s.

Shell is Europe's second-largest company and the largest outside Germany, with fiscal 2025 revenue of US$273.7bn, down 5.29% on the prior year in dollar terms. It employs 85,000 people. Formed in 1907 from a British and a Dutch company and now based in London, Shell produces oil and gas, refines and retails fuels, trades energy and makes chemicals. Its long-term strategy centres on oil and gas, particularly liquefied natural gas.

Glencore, headquartered in Baar, Switzerland, is the largest company in the ranking outside the energy and automotive sectors. It reported fiscal 2025 revenue of US$247.5bn, up 7.18% on the prior year in dollar terms, with 80,423 employees. The group combines mining and production with commodity marketing, and produces and trades materials including copper, coal, zinc and oil. Its revenue grew faster than that of any other company in the European top five.

BP climbed one place to fourth in the 2026 Fortune 500 Europe, with fiscal 2025 revenue of US$192.5bn, down 1.07% on the prior year in dollar terms. It employs 93,700 people. The London company explores for and produces oil and gas, refines and markets fuels and invests in renewable energy, with major operations in Europe, the United States and Asia. In 2025 it reduced planned spending on low-carbon projects and increased investment in oil and gas.

TotalEnergies is the largest French company by revenue, at US$182.3bn for fiscal 2025, down 6.78% on the prior year in dollar terms; it slipped one place to fifth. Based in Courbevoie near Paris, it employs 101,513 people. Originally an oil and gas company, it now operates across the energy chain, combining growth in oil and gas production, especially LNG, with investment in electricity and renewables, targeting 100 gigawatts of gross renewable capacity by 2030.

Stellantis, headquartered in Hoofddorp in the Netherlands, reported fiscal 2025 revenue of US$173.1bn, up 2.06% on the prior year in dollar terms, and employs 259,206 people. The carmaker was formed in 2021 through the merger of PSA Group and Fiat Chrysler. It operates 14 brands, including Jeep, Peugeot, Fiat and Chrysler, and Fortune lists it as the largest Dutch-headquartered company in Europe's 2026 ranking.

BMW Group rose one place to seventh in the 2026 ranking with fiscal 2025 revenue of US$150.5bn, down 2.24% on the prior year in dollar terms. The Munich-headquartered manufacturer employs 154,540 people. It is the second of three German carmakers in the European top ten, alongside Volkswagen and Mercedes-Benz, and finished about US$1.4 billion ahead of Mercedes-Benz Group on Fortune's dollar figures, reversing their order from the previous edition.

Mercedes-Benz Group placed eighth in the 2026 Fortune 500 Europe, down one place, with fiscal 2025 revenue of US$149.1bn, down 5.29% on the prior year in dollar terms. The Stuttgart company employs 158,324 people. Its profit fell more sharply than its revenue, by 47% on Fortune's figures, to US$5.8 billion. Mercedes-Benz is one of seven German companies in the European top 25, the largest national contingent at that level.

Banco Santander is the largest bank in Europe by Fortune-basis revenue, at US$145.1bn for fiscal 2025, down 0.86% on the prior year in dollar terms; it rose one place to ninth. It employs 200,741 people. Headquartered in Madrid and active across Europe and the Americas, the bank operates in retail, commercial, corporate and investment banking, wealth management, insurance and payments. It is the only Spanish company in the European top 25.

BNP Paribas, the largest French bank, reported fiscal 2025 revenue of US$141.6bn, down 3.24% on the prior year in dollar terms, and fell one place to tenth. It employs 179,840 people. The bank was formed in 2000 when Banque Nationale de Paris took over Paribas. Its businesses are organised in three divisions: Corporate and Institutional Banking; Commercial, Personal Banking and Services; and Investment and Protection Services.

HSBC Holdings ranks 11th, with fiscal 2025 revenue of US$135.6bn, down 6.93% on the prior year in dollar terms. It was the most profitable company on the 2026 European list, earning US$22 billion, one of 25 companies with profits above US$10 billion. Founded in Hong Kong in 1865 and now headquartered in London, HSBC directs its growth strategy towards Asia and international clients. It employs 208,720 people.

Sberbank, based in Moscow, recorded the largest ranking gain in the European top 25, rising eight places to 12th. Its fiscal 2025 revenue, on Fortune's banking definition, was US$135.1bn, up 36.80% on the prior year in dollar terms; the change is measured in US dollars and is affected by currency movements. The bank employs 291,795 people. Fortune includes 31 Russian companies in the 2026 list.

Deutsche Telekom is Europe's largest telecommunications company by revenue, ranking 13th overall with fiscal 2025 revenue of US$134.3bn, up 7.28% on the prior year in dollar terms. The Bonn-headquartered group employs 198,079 people. The next-largest European telecommunications company, Vodafone Group, ranks 88th with US$46.9 billion. It is the fourth-largest German company in this list, after the three carmakers.

Allianz is Europe's largest insurer by revenue in the 2026 ranking, with fiscal 2025 revenue of US$134.0bn, up 8.80% on the prior year in dollar terms. The Munich group employs 156,875 people. Fortune's revenue for insurers includes premiums, annuity income, investment income and realised capital gains or losses but excludes deposits. Allianz finished ahead of France's AXA, which ranks 18th with US$107.7 billion.

Électricité de France, commonly known as EDF, is the largest utility in the ranking, with fiscal 2025 revenue of US$127.8bn, down 0.47% on the prior year in dollar terms; it fell three places to 15th. It employs 188,679 people. The company generates, distributes and supplies electricity across Europe, with smaller operations in the Americas, Africa and Asia, and has set a goal of net zero emissions across its activities by 2050.

Gazprom, headquartered in Saint Petersburg, reported fiscal 2025 revenue of US$114.9bn, up 0.70% on the prior year in dollar terms, and ranks 16th. Fortune lists 501,000 employees, the second-largest workforce in the European top 25 after Volkswagen. The state-owned company is vertically integrated, from gas exploration and extraction through processing, distribution and supply to gas-fired electricity generation. It is one of two Russian companies in the top 25.

Nestlé is Europe's largest food company by revenue, with US$107.7bn for fiscal 2025, up 3.84% on the prior year in dollar terms, and 271,000 employees. Based in Vevey, Switzerland, it sells products in more than 185 countries, and its brands include Nespresso, KitKat, Perrier and Maggi. Its range spans coffee, confectionery, bottled water, infant nutrition, dairy, culinary products, health science and pet food.

AXA rose three places to 18th, with fiscal 2025 revenue of US$107.7bn, up 9.14% on the prior year in dollar terms, and 103,423 employees. The Paris-based insurer began as a small French mutual insurer in the early 19th century and grew through acquisitions; most of its revenue now comes from outside France. Its main activities are property and casualty and life insurance, and it sold its asset-management business to BNP Paribas in July 2025.

Equinor, the only Norwegian company in the European top 25, reported fiscal 2025 revenue of US$106.5bn, up 2.59% on the prior year in dollar terms. With 23,843 employees it has the smallest workforce among the 25 largest companies. Established in 1972 as Statoil and majority-owned by the Norwegian state, the Stavanger company explores for and produces oil and gas, trades energy and has expanded into offshore wind.

Ahold Delhaize, headquartered in Zaandam near Amsterdam, is Europe's largest food retailer in the ranking, with fiscal 2025 revenue of US$104.2bn, up 7.80% on the prior year in dollar terms; it rose four places to 20th. It employs 222,000 people. The group runs more than a dozen supermarket, wholesale and online brands, including Albert Heijn and Delhaize, and earns the majority of its revenue from grocery chains in the United States.

REWE Group, the Cologne-based retail and tourism cooperative, rose four places to 21st with fiscal 2025 revenue of US$102.8bn, up 8.11% on the prior year in dollar terms. It employs 196,532 people. REWE is one of two privately held German companies in the European top 25, together with Bosch, and its revenue is only slightly below that of Ahold Delhaize, the largest listed grocery group in the ranking.

Bosch, the privately owned technology and automotive supplier based in Gerlingen, ranks 22nd with fiscal 2025 revenue of US$102.6bn, up 5.02% on the prior year in dollar terms. With 412,774 employees it has one of the largest workforces in the European top 25. Fortune classifies it under motor vehicles and parts, the same category as Volkswagen, Stellantis, BMW and Mercedes-Benz, making it the fifth company from that sector in the top 25.

Société Générale reported fiscal 2025 revenue of US$102.4bn on Fortune's banking definition, down 7.43% on the prior year in dollar terms, and fell seven places to 23rd, the largest drop in the European top 25. The Paris-based bank employs 106,074 people. It is one of three French banks and insurers in the top 25, alongside BNP Paribas and AXA, and one of six French companies at that level.

Tesco rose six places to 24th, with revenue of US$98.5bn for the fiscal year ended 28 February 2026, up 9.76% on the prior year in dollar terms. The retailer, based in Welwyn Garden City, employs 227,188 people. It holds more than a quarter of the British grocery market and also trades in Ireland, the Czech Republic, Slovakia and Hungary, with additional businesses in mobile telecoms and banking.

Carrefour completes the European top 25 with fiscal 2025 revenue of US$98.4bn, up 4.24% on the prior year in dollar terms, finishing about US$0.1 billion behind Tesco. The grocery retailer, headquartered in Massy, France, employs 298,604 people, the largest workforce of the four food retailers in the top 25. It is the fourth-largest food retailer in the top 25 by revenue, after Ahold Delhaize, REWE Group and Tesco.