Nvidia is worth $121 million per employee, Walmart $453,000

Walmart employs 2.1 million people, more than any other S&P 500 company. Some headcounts leave most workers out: franchisors and REITs whose properties operators run count only their own staff, so the chart marks them.

Market cap and number of employees, by company

5 companies whose 10-K states no headcount are not shown.

Market caps at 23 Oct 2026

Find a company


Vici Properties VICI	28	$26.2B	$934M	Direct employer
Welltower WELL	712	$171B	$240M	Third-party operated
Texas Pacific Land TPL	114	$23.3B	$205M	Direct employer
Nvidia NVDA	42,000	$5.08T	$121M	Direct employer
Palantir Technologies PLTR	4,429	$473B	$107M	Direct employer
Host Hotels & Resorts HST	162	$16.9B	$105M	Third-party operated
Realty Income O	544	$53.8B	$99M	Direct employer
AppLovin APP	898	$87.1B	$97M	Direct employer
Ventas VTR	542	$44.5B	$82M	Third-party operated
Broadcom AVGO	33,000	$1.54T	$47M	Direct employer
Interactive Brokers IBKR	3,182	$137B	$43M	Direct employer
Arista Networks ANET	5,115	$217B	$43M	Direct employer
Prologis PLD	2,802	$118B	$42M	Direct employer
Diamondback Energy FANG	1,762	$57.6B	$33M	Direct employer
Healthpeak Properties DOC	411	$13.3B	$32M	Direct employer
Apple AAPL	166,000	$5.07T	$31M	Direct employer
Federal Realty Investment Trust FRT	320	$9.4B	$30M	Direct employer
Robinhood Markets HOOD	2,900	$85.5B	$29M	Direct employer
Verisign VRSN	928	$26.9B	$29M	Direct employer
CME Group CME	3,875	$109B	$28M	Direct employer
Advanced Micro Devices AMD	31,000	$844B	$27M	Direct employer
Marvell Technology MRVL	7,480	$200B	$27M	Direct employer
Regency Centers REG	507	$13.5B	$27M	Direct employer
Blackstone BX	5,285	$141B	$27M	Direct employer
Bloom Energy BE	2,214	$57.2B	$26M	Direct employer

Showing 25 of 495 companies

Headcounts that leave most workers out

Welltower WELLThird-party operated
712 employees, $240M of market cap each. The properties are run by outside operators, whose staff are not in this count.
Host Hotels & Resorts HSTThird-party operated
162 employees, $105M of market cap each. The properties are run by outside operators, whose staff are not in this count.
Ventas VTRThird-party operated
542 employees, $82M of market cap each. The properties are run by outside operators, whose staff are not in this count.
McDonald's MCDFranchisor
150,000 employees, $1.2M of market cap each. Most locations are run by franchisees, who employ their own staff. Those people are not in this count.
Domino's DPZFranchisor
10,200 employees, $1.0M of market cap each. Most locations are run by franchisees, who employ their own staff. Those people are not in this count.
Yum! Brands YUMFranchisor
49,000 employees, $834K of market cap each. Most locations are run by franchisees, who employ their own staff. Those people are not in this count.

About the data

Employees are the headcount each company states in its latest annual report (10-K), usually full-time and part-time staff of the company and the subsidiaries it consolidates, worldwide, at the end of the fiscal year. Each company page quotes the sentence the count comes from.
A count is kept only when the quoted sentence states it as the company's own headcount. Companies whose 10-K states none are left out.
Market cap per employee divides market cap by that headcount. It measures how much the market values each person on the payroll, not what they earn or produce.
Not every company counts the same people. A franchisor counts staff at its own locations, not at franchisees; a REIT whose buildings are run by operators counts only its corporate team. The chart marks these.
Both axes are logarithmic: each gridline is about three times the one before (1, 3, 10, 30 and so on). The diagonal lines join points with the same market cap per employee.