Finance is the most dominant sector by revenue, new Fortune 500 Europe list shows

The Fortune 500 Europe list reveals finance as the most dominant sector by revenue for the third year in a row. Volkswagen leads the industry, with revenue growing 3.4% to over $363 billion. The combined revenues of all companies on the list reached a record $15.5 trillion. Profits climbed by 3% to just over $1 trillion, after a 5% drop in 2025.

Margins across the Fortune 500 Europe have narrowed for two consecutive years, falling to 6.5% from a peak of 7.1% in 2024. This decline is attributed to stagflation pressures, according to Guido Cozzi, a macroeconomics professor at the University of St. Gallen. The financial sector accounts for 24% of the list's revenue, 40% of its profits, and 14% of its workforce.

HSBC, at No. 11, is the most profitable company, generating $22 billion in profits in 2025. Energy companies contribute 14% to the list's total profit and rank second in employment. BP, with Meg O’Neill as CEO and Kate Thomson as CFO, is the only top-10 company with female leadership in both roles. Other notable positions in the finance sector include No. 2 Shell and CFO Sinead Gorman.