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Spain is home to some of the largest and most influential companies in Europe. As one of the leading economies in the European Union, Spain boasts a diverse business landscape that spans various industries, including retail, energy, banking, and technology. Understanding the market landscape and key players in Spain is crucial for anyone looking to invest, partner, or simply learn more about the Spanish economy.
In 2025, several companies stand out in terms of market capitalization, an indicator of a company’s overall value as determined by the stock market. These top companies not only contribute to Spain's economy but also have a significant impact on global markets. In this article, we will explore the top companies in Spain by market capitalization, their growth trajectories, industries, and how they continue to shape Spain's economic future.
Market capitalization is an important metric for assessing a company’s size and overall financial health. It is calculated by multiplying the current share price by the total number of shares outstanding. For investors, it provides a quick snapshot of a company’s value, and for businesses, it indicates the level of investor confidence.
Spain, as a key player in the European Union, has several companies with large market caps that drive its economy forward. These companies represent diverse industries, including energy, retail, financial services, and infrastructure. Let’s dive into the top companies in Spain based on their market capitalization in 2025.
Here is a list of the top ten companies in Spain based on their market capitalization as of 2025.
Inditex is Spain’s largest company by market capitalization and one of the world’s biggest fashion retailers. Best known for its flagship brand, Zara, Inditex operates a variety of other well-known brands like Massimo Dutti, Pull&Bear, Stradivarius, and Bershka. The company has revolutionized the fast-fashion industry with its agile supply chain, allowing it to quickly adapt to fashion trends and deliver products to stores in a matter of weeks.
With a market cap of around $159.95 billion, Inditex continues to dominate the fashion sector, not only in Spain but globally. Its success lies in its ability to seamlessly integrate online and offline retail, catering to both physical stores and e-commerce platforms. As of 2025, Inditex continues to see strong growth, driven by consumer demand for affordable yet stylish fashion.
Iberdrola is Spain’s largest energy company and one of the leading players in the global renewable energy sector. With a market cap of approximately $89.93 billion, Iberdrola has become a pioneer in the transition to green energy. The company is heavily invested in wind power, solar energy, and other sustainable energy sources.
In 2025, Iberdrola continues to expand its renewable energy projects across Europe, the U.S., and other parts of the world, reinforcing its position as a global energy leader. Iberdrola’s emphasis on sustainability and its global reach have helped the company secure its place among Spain’s top companies.
Banco Santander is the largest bank in Spain and one of the largest financial institutions in Europe and Latin America. With a market cap of around $73.71 billion, Santander has expanded its presence to over 20 countries, offering a wide range of banking products, from personal banking services to corporate banking and investment solutions.
Santander’s strong international presence, coupled with its digital transformation efforts, have positioned it as a leading financial player in both European and global markets. As we move into 2025, Banco Santander continues to focus on digital banking, innovation, and expanding its footprint in emerging markets.
BBVA is another major banking group in Spain with a strong global presence. With a market cap of approximately $57.41 billion, BBVA is one of Spain’s top financial institutions, serving millions of customers worldwide. The bank offers a comprehensive range of services, including retail banking, investment banking, and asset management.
BBVA has also embraced digital transformation, investing heavily in fintech and digital banking services. As of 2025, the company continues to innovate in the digital space, offering its customers enhanced online banking experiences and new financial products.
CaixaBank is one of the largest banking institutions in Spain, with a market cap of about $39.82 billion. Known for its strong retail banking services, CaixaBank provides a broad array of financial products and services to both individuals and businesses. The company has a significant presence in the Spanish banking market, especially in terms of savings and mortgages.
In 2025, CaixaBank continues to expand its offerings in both traditional and digital banking. The company has been focusing on innovation and providing easy-to-use banking solutions, ensuring it remains competitive in the rapidly evolving financial landscape.
Aena is Spain’s leading airport operator, with a market cap of around $32.03 billion. The company manages most of Spain's major airports, including those in Madrid, Barcelona, and Palma de Mallorca. Aena has a key role in both the Spanish economy and the global travel and tourism industry.
In 2025, Aena continues to be an essential part of Spain’s infrastructure, managing millions of passengers annually. The company is focused on expanding its operations in both domestic and international markets, contributing significantly to Spain's tourism industry.
Ferrovial is one of Spain’s largest construction and engineering companies, with a market cap of $30.62 billion. The company is involved in various infrastructure projects, including roads, airports, and urban developments. Ferrovial’s global operations span across Europe, the U.S., and the Middle East, making it a key player in the global infrastructure market.
As of 2025, Ferrovial remains at the forefront of infrastructure innovation, focusing on smart cities and sustainable construction solutions.
Amadeus IT Group is a leading technology company specializing in travel and tourism solutions. With a market cap of $30.33 billion, Amadeus provides IT services to airlines, hotels, and travel agencies. The company’s technology helps streamline operations and enhance the customer experience in the travel sector.
In 2025, Amadeus continues to expand its offerings in travel technology, with a focus on innovation and providing solutions that support the industry’s digital transformation.
Cellnex Telecom is a leader in telecommunications infrastructure, with a market cap of $24.39 billion. The company operates a network of telecommunication towers and services across Europe, supporting mobile and broadband networks.
In 2025, Cellnex continues to expand its operations, focusing on 5G networks and the increasing demand for connectivity.
Grifols is a global leader in the production of blood plasma-based products and is one of the largest biotech companies in Spain. With a market cap of around $22.47 billion, Grifols continues to play a vital role in the healthcare and biotechnology sectors, particularly in the production of therapeutics for rare diseases.
In 2025, Grifols is expanding its footprint in the global healthcare market, continuing to innovate in plasma-based treatments and diagnostic systems. As healthcare demands rise, particularly in the biotech and pharma industries, Grifols' expertise and contributions to improving patient outcomes solidify its position among Spain's leading companies.
Spain’s largest companies by market capitalization in 2025 reflect the country’s diverse economy, with strong representation across industries like retail, energy, banking, and telecommunications. These companies not only dominate the Spanish market but also have significant influence on the global stage. Understanding their growth trajectories and market dynamics is essential for anyone looking to engage with or invest in Spain’s thriving business environment.
As Spain continues to innovate in sectors such as renewable energy, infrastructure, and digital transformation, these companies will likely play an even more prominent role in shaping both the Spanish and global economies. Keep an eye on these market leaders as they continue to evolve in 2025 and beyond.
