Largest companies by market cap in the materials sector
(Editor's note: Rankings are as of Nov. 6, 2025.)
1. Linde
NASDAQ: LIN
Key Data Points
- Market cap: $193.93 billion (as of Nov. 6)
- Revenue (TTM): $33.5 billion
- Gross profit (TTM): $16.3 billion
- Five-year annualized return: 12.35%
- Year founded: 1879
TTM = trailing 12 months.
Linde is a chemicals company founded by German scientist Carl von Linde. It operates in more than 80 countries, and its two main business segments are gases and engineering. Linde manufactures industrial and medical gases and builds large-scale chemical plants.
This company is investing heavily in clean energy projects. In 2023, Linde announced plans to invest as much as $50 billion in clean energy projects over the next decade. It's also expanding, finishing its acquisition in September 2025 of Airtec, one of the largest industrial gas companies in the Middle East.
2. BHP Group
NYSE: BHP
Key Data Points
- Market cap: $142.77 billion (as of Nov. 6)
- Revenue (TTM): $33.2 billion*
- Gross profit (TTM): $27.3 billion*
- Five-year annualized return: 11.59%
- Year founded: 1885
*Converted from Australian dollars.
BHP Group is a mining company based in Melbourne, Australia, focusing on copper, iron ore, nickel, metallurgical coal, and potash. It operates in more than 90 locations, including in the U.S., Canada, and Chile.
BHP has set several sustainability targets for 2030, including at least a 30% reduction in operational greenhouse gases. However, it reportedly got rid of some renewable energy projects in 2024 due to budget cuts.
3. L'Air Liquide
- Market cap: $111.91 billion (as of Nov. 6)
- Revenue (TTM): $31.6 billion*
- Gross profit (TTM): $20.0 billion*
- Five-year annualized return: 6.07%
- Year founded: 1902
*Converted from euros.
Based in France, L'Air Liquide is the world's second-largest producer of industrial gases for the industrial and healthcare sectors. It has a market presence in 60 countries and serves more than 4 million customers and patients.
In August, L'Air Liquide announced an agreement to acquire DIG Airgas, a South Korean company, for $3.3 billion. South Korea is one of the major industrial gas markets and manufacturing hubs, and the acquisition strengthens L'Air Liquide's position there.
4. Southern Copper Corporation
NYSE: SCCO
Key Data Points
- Market cap: $111.47 billion (as of Nov. 6)
- Revenue (TTM): $12.3 billion
- Gross profit (TTM): $7.4 billion
- Five-year annualized return: 26.34%
- Year founded: 1952 (Southern Peru Copper Corporation), 2005 (merger with Minera Mexico)
Southern Copper is a mining company that produces copper and other metal byproducts. It ranks first for copper production in Mexico and Peru, third in the U.S., and fourth worldwide. It also has the world's largest copper reserves. In 2024, the company resumed development of its Tia Maria mine in Peru, although there has been considerable opposition to the project due to environmental concerns.
5. Newmont
- Market cap: $90.06 billion (as of Nov. 6)
- Revenue (TTM): $21.5 billion
- Gross profit (TTM): $12.8 billion
- Five-year annualized return: 7.32%
- Year founded: 1921
Newmont is the world's leading gold mining company. It also produces copper, silver, zinc, and lead. For its 2024 fiscal year, Newmont reported attributable gold production of 6.85 million ounces. Newmont has made multiple major acquisitions in recent years. It acquired Goldcorp for $10 billion in 2019 and Newcrest Mining for $16.8 billion in 2023.
At the end of the year, CEO Tom Palmer will resign. Newmont has named President and Chief Operating Officer Natascha Viljoen as his successor. She will be the company's first female CEO.
6. Rio Tinto Group
- Market cap: $86.60 billion (as of Nov. 6)
- Revenue (TTM): $53.7 billion
- Gross profit (TTM): $14.9 billion
- Five-year annualized return: 7.32%
- Year founded: 1873
When the Spanish government decided to sell the Rio Tinto mines, the investors who made the best offer formed the Rio Tinto Company. Now trading as the Rio Tinto Group, it's the second-largest metals and mining company in the world.
Rio Tinto went through a leadership change earlier this year. In August, Simon Trott took over as CEO.
7. Sherwin-Williams
NYSE: SHW
Key Data Points
- Market cap: $82.71 billion (as of Nov. 6)
- Revenue (TTM): $23.3 billion
- Gross profit (TTM): $11.4 billion
- Five-year annualized return: 7.42%
- Year founded: 1866
Sherwin-Williams is a familiar name for anyone who has gone shopping for paint. In 2024, it was the world's leading paint company by revenue. Its products are sold through more than 5,000 company-operated stores, and it has a market presence in over 120 countries.
Sherwin-Williams has had its share of controversies. It was one of three paint companies that agreed in 2019 to pay $305 million in fines for lead paint hazards in California, and it has also been fined for violating hazardous waste regulations.
8. Agnico Eagle Mines
NYSE: AEM
Key Data Points
- Market cap: $80.17 billion (as of Nov. 6)
- Revenue (TTM): $10.6 billion
- Gross profit (TTM): $7.4 billion
- Five-year annualized return: 16.56%
- Year founded: 1957
Agnico Eagle is a Canadian-based company that mines precious metals. It's Canada's largest mining operation and the second-largest gold producer in the world. In addition to its home country, Agnico Eagle also has operations in Australia, Finland, and Mexico.
Gold production for Agnico Eagle reached almost 3.5 million ounces in 2024. It also mined almost 2.5 million ounces of silver.
9. Cement Roadstone Holdings
NYSE: CRH
Key Data Points
- Market cap: $76.92 billion (as of Nov. 6)
- Revenue (TTM): $36.4 billion
- Gross profit (TTM): $13.1 billion
- Five-year annualized return: 30.07%
- Year founded: 1936 (Cement Limited), 1949 (Roadstone Limited), 1970 (merger of Cement Limited and Roadstone Limited)
Cement Roadstone Holdings is a building materials company based in Ireland. It began operations in 1970 after the merger of two of Ireland's largest public companies, Cement Limited and Roadstone Limited.
Cement Roadstone expanded its presence in Europe and the U.S. in the 1990s and now operates in 28 countries. It provides crushed stone, sand, gravel, cement, concrete, and other building materials and products.
Following the retirement of CEO Albert Manifold at the end of 2024, Jim Mintern took over in 2025. Mintern previously served as the company's chief financial officer.
10. Ecolab
NYSE: ECL
Key Data Points
- Market cap: $71.68 billion (as of Nov. 6)
- Revenue (TTM): $15.9 billion
- Gross profit (TTM): $7.1 billion
- Five-year annualized return: 6.51%
- Year founded: 1923
Ecolab is a food safety and water hygiene company with customers in more than 40 industries and a market presence in over 170 countries. Its products are used in animal health, food and beverage processing, healthcare, life sciences, textile care, and many other fields.
In August 2025, Ecolab agreed to acquire Ovivo's Electronics Ultra-Pure Water business for $1.8 billion. The move expands Ecolab's offerings in circular water management.
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Materials sector takeaways for investors
The materials market sector presents some unique challenges for investors. Some of the top companies are based outside the U.S. and may be unfamiliar to the typical investor. Investing in international companies can be challenging since it requires learning not only about the company itself but also about the business climate in that part of the world.
In addition, the Trump administration's import tariffs are having a significant impact on the materials sector. Tariffs on building materials and precious metals lead to higher costs for many of these companies. The companies then need to pass those higher costs on to consumers.
However, the status of these tariffs is in doubt now that a federal appeals court has ruled most of them illegal. They're still in place for the time being, pending an appeal.
Still, whether you venture into international stocks or stick to U.S. companies, the materials sector presents plenty of quality investment opportunities. The best materials companies have excellent financials with consistent profits and reasonable debt levels. They perform best in a growing economy, but even during downturns, well-positioned materials companies can continue to make money.
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