Brand Finance report reveals the resilience of American brands, with the US’s top 500 most valuable brands growing faster than the economy.
DALLAS, March 25, 2025 – According to the latest report by Brand Finance, the world’s leading brand valuation consultancy, America's biggest brands are growing faster than the economy. The total brand value of the 500 most valuable US brands rose 7.4% to $5.79 trillion, outpacing US economic growth of 2.8%.
Laurence Newell, Managing Director, Americas, Brand Finance, commented:
“With Trump back in the White House, shifting trade policies, tariffs, and political dynamics are creating uncertainty for American brands. Brand Finance research shows that volatility in this environment can lead to significant brand value losses, not just in the US, but also among close trading partners like Canada and Mexico. As the situation evolves, resilience and adaptability will be key for brands across the region.”
Gaming and entertainment giant MGM is the fastest-growing brand in the US, with its value doubling (+102%) to USD 3.8 billion. Record-breaking revenues and strong reputation - especially in China - are driving its rapid rise. The leisure and tourism sector is also rebounding, with Norwegian Cruise (+87%) and Carnival Cruise Line (+86%) experiencing major brand gains as demand for travel surges past pre-pandemic levels.
Alfred DuPuy, Valuation & Strategy Director, Brand Finance, commented:
"MGM’s explosive growth is a sign of the shifting consumer landscape. As demand for entertainment and travel surges, brands that offer compelling experiences are seeing massive gains. MGM’s 102% brand value increase, alongside the strong performance of Norwegian and Carnival, proves that leisure and tourism brands are back in full force. The winners in this space will be those that continue to strengthen their brand and customer experience.”
The AI boom continues to reshape the market. GPU giant NVIDIA has entered the top 10 for the first time, its brand value soaring 98% to USD 87.9 billion. A decade ago, it ranked 424th in theUS 500. As AI transforms industries, NVIDIA has become a dominant force in high-performance computing.
Tech company Apple remains America’s – and the world’s most valuable brand, up 11% to USD 574.5 billion, followed by Microsoft (+35% to USD 461.1 billion)and Google (+24% to USD 413.0 billion). Amazon (+15% to $356.4 billion) holds fourth place, while American retail chain Walmart (+42% to USD 137.2 billion) is the fastest-growing brand among the top five.
California leads the ranking with 84 brands contributing USD 1.92 trillion in brand value. Washington follows, with just 11 brands generating USD 928.2 billion, driven by Microsoft and Amazon. New York ranks third, with 65 brands totaling USD 601.8 billion in brand value.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
