Linde (LIN +1.29%) is the top materials company by market cap, well ahead of BHP Group (BHP -3.13%) and Southern Copper (SCCO -3.17%). Mining companies make up more than half of the largest materials companies, but there are also chemical companies and suppliers of construction materials on the list.
Largest companies by market cap in the materials sector
(Editor's note: Rankings are as of Feb. 5, 2026.)
1. Linde
- Market cap: $215.55 billion (as of Feb. 5)
- Revenue (TTM): $33.5 billion
- Gross profit (TTM): $16.3 billion
- Five-year annualized return: 14.53%
- Year founded: 1879
TTM = trailing 12 months.
NASDAQ: LIN
Key Data Points
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
- Market cap: $177.51 billion (as of Feb. 5)
- Revenue (TTM): $51.3 billion
- Gross profit (TTM): $36.7 billion
- Five-year annualized return: 11.14%
- Year founded: 1885
NYSE: BHP
Key Data Points
BHP Group is a mining company based in Melbourne, Australia, with a focus 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. Southern Copper
- Market cap: $155.19 billion (as of Feb. 5)
- Revenue (TTM): $13.4 billion
- Gross profit (TTM): $7.2 billion
- Five-year annualized return: 29.21%
- Year founded: 1952 (Southern Peru Copper Corporation), 2005 (merger with Minera Mexico)
NYSE: SCCO
Key Data Points
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, despite considerable opposition to the project due to environmental concerns.
4. Rio Tinto Group
- Market cap: $121.0 billion (as of Feb. 5)
- Revenue (TTM): $53.7 billion
- Gross profit (TTM): $14.9 billion (as of Dec. 31, 2025)
- Five-year annualized return: 13.11%
- Year founded: 1873
NYSE: RIO
Key Data Points
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 (RIO -1.59%), it's the second-largest metals and mining company in the world.
5. Newmont
- Market cap: $119.22 billion (as of Feb. 5)
- Revenue (TTM): $21.5 billion
- Gross profit (TTM): $10.5 billion
- Five-year annualized return: 18.20%
- Year founded: 1921
NYSE: NEM
Key Data Points
Based in France, L'Air Liquide (AIQUF -0.54%) 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 2025, 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 in this market.
7. Agnico Eagle Mines
- Market cap: $95.11 billion (as of Feb. 5)
- Revenue (TTM): $10.6 billion
- Gross profit (TTM): $5.8 billion
- Five-year annualized return: 25.96%
- Year founded: 1957
NYSE: AEM
Key Data Points
8. Sherwin-Williams
- Market cap: $90.02 billion (as of Feb. 5)
- Revenue (TTM): $23.6 billion
- Gross profit (TTM): $12.1 billion
- Five-year annualized return: 10.06%
- Year founded: 1866
NYSE: SHW
Key Data Points
Sherwin-Williams (SHW +0.82%) 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.
9. Freeport-McMoRan
- Market cap: $85.04 billion (as of Feb. 5)
- Revenue (TTM): $25.9 billion
- Gross profit (TTM): $7.3 billion
- Five-year annualized return: 15.87%
- Year founded: 1912
NYSE: FCX
Key Data Points
Freeport-McMoRan (FCX -5.48%), also known as FCX, is an international mining company that focuses on copper. It also produces gold and is the world's largest producer of molybdenum. It has mines in North America, South America, and Indonesia.
This company has received criticism for alleged safety issues, human rights abuses, and the amount of waste its mines produce. Its Grasberg Mine in Indonesia, while one of the richest mining operations in the world, has also caused environmental damage and floods in the area.
10. Ecolab
- Market cap: $81.45 billion (as of Feb. 5)
- Revenue (TTM): $15.9 billion
- Gross profit (TTM): $7.0 billion
- Five-year annualized return: 7.42%
- Year founded: 1923
NYSE: ECL
Key Data Points
Ecolab (ECL +0.18%) is a food safety and water hygiene company serving customers across more than 40 industries and operating 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.
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 but also about the business climate in another 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 are passing the higher costs on to consumers. However, the status of these tariffs is in doubt, pending a ruling by the U.S. Supreme Court.
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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About the Author
Lyle Daly has no position in any of the stocks mentioned. The Motley Fool recommends BHP Group, Ecolab, Linde, and Sherwin-Williams. The Motley Fool has a disclosure policy.
