CVS, Citizens make most valuable brands list

CVS HEALTH CORP. ranked 24th best on Brand Finance’s Most Valuable Brand list released this week. / COURTESY BRAND VALUE
CVS HEALTH CORP. ranked 24th best on Brand Finance’s Most Valuable Brand list released this week. / COURTESY BRAND VALUE

WOONSOCKET – Two Rhode Island companies made Brand Finance’s Most Valuable Brand list released this week, with CVS Health Corp. ranking 24th highest, a two-spot slip from last year, and Citizens Financial Group unchanged over the year at 386th.

CVS’ brand grew 1.8 percent over the year to $23.3 billion, while Providence-based Citizens saw its brand increase 0.5 percent, to $1.7 billion.

Brand Finance, a valuation and strategy consultancy, values the brands of 500 of the world’s biggest companies every year. It assesses brand strength on factors including marketing investment, familiarity, preference, sustainability and margins.

Brand Finance said CVS had “limited growth,” noting its share price declined significantly over the year, though there were some concerns that the stock is “significantly overvalued.”

- Advertisement -

Google topped the list, replacing Apple as the world’s most valuable brand, with a brand value of $109 billion.

Apple was next followed by Amazon.com, AT&T, Microsoft, Verizon, Wal-Mart, Facebook, Wells Fargo and McDonald’s.

Stop & Shop, based in Quincy, Mass., ranked 349th. It was not on the list last year.
California remains America’s most valuable state by brand value, thanks to its dominance in technology (the most valuable and fastest growing sector in terms of brand value), according to Brand Finance. Of the country’s top 500 brands, 71 are from California, with a total value of $725 billion.

New York is in second place, with one less brand in the top 500 compared with California; New York’s total is significantly lower, however, at $481 billion.

Texas was third with 48 brands, including AT&T, on the list with a total value of $263 billion.

America’s brands reached a new high, climbing 11 percent to $3.1 trillion this year from $2.82 trillion last year, according to Brand Finance.

No posts to display