Europe’s 25 Largest Companies Are Worth $5.97T Combined ASML is Europe’s most valuable company at $588.2B. That’s nearly 10% of the whole top 25 and 1.5x Roche at #2 ($390.9B). Novartis ($305.1B), Shell ($297.6B) and HSBC ($293.8B) round out the top five, and it takes $159.3B (ABB) just to make the list. Pharma is the biggest theme: Roche, Novartis, AstraZeneca and Novo Nordisk add up to $1.16T. Switzerland punches far above its size with four names (Roche, Novartis, Nestlé and ABB) worth $1.12T together. Meanwhile Novo Nordisk, Europe’s most valuable company as recently as 2024, has slid to #17 at $178.4B. For scale, all 25 combined are worth only about $1T more than Apple ($4.94T) or Nvidia ($4.88T) on its own.