Top 10 Most Valuable Companies in Brazil for 2024 Announced

Industrials Author: Notrice Jun 11, 2024 06:17 PM (GMT+8)

Brazilian Stock Exchange (B3) recently released the list of the top 10 most valuable companies in Brazil for 2024. Leading the list is Petrobras (Petróleo Brasileiro S.A.), followed closely by Itaú Unibanco and Vale.


According to B3 data from June 3, Petrobras and Itaú Unibanco have outperformed expectations compared to the same period in 2023. Petrobras's market value saw a significant increase, rising from BRL 378.7 billion to BRL 515.7 billion, maintaining its top position. Similarly, Itaú Unibanco, which ranked third last year, experienced a substantial market value increase from BRL 244.8 billion in 2023 to BRL 287.2 billion in 2024.

On the other hand, Vale's market value decreased compared to June 2023. Last year's valuation was BRL 308.4 billion, but this year it fell to BRL 280.8 billion, causing its ranking to drop from second to third place. Notably, as of May 31, Vale's market value was BRL 286.9 billion, slightly higher than Itaú Unibanco's BRL 284.0 billion. Petrobras maintained a solid first place with a market value of BRL 520.2 billion.

The survey also analyzed the profitability and most influential sectors of Brazilian companies. Data showed that Petrobras's net profit in 2023 reached BRL 124.6 billion , the second-highest in the company's history. Itaú Unibanco's profit was BRL 35.6 billion, a 15.7% increase from 2022. In contrast, Vale's net profit in 2023 was BRL 39.9 billion, a 53.6% decrease year-on-year due to lower average product prices and exchange rate losses.

Among the top 10 most valuable companies in Brazil for 2024, five are banking institutions. Experts attribute this to the stability of Brazilian financial institutions. The survey results indicate that the Brazilian financial market has demonstrated resilience and adaptability to economic changes, remaining a crucial pillar of the national economy.