The 2024 Value Creators Rankings: Even a Historic Bull Market Comes with Challenges
Strong 2023 markets lifted median five-year TSR to 12% a year, but with indices at record highs companies must sustain returns through profitable growth, cost efficiency and innovation rather than market momentum.
Summary
Across 2,355 companies in 35 industries, median five-year TSR rose to 12% a year for 2019 through 2023 from 7% the prior period. Technology hardware led at 27%, while asset-heavy sectors such as mining, building materials and machinery and rebounding consumer-spending industries also climbed, and health care slowed. North America and Asia-Pacific gained top-100 spots; Europe held only 9. With markets at all-time highs, BCG argues firms must grow profitably and invest in innovation such as AI and sustainability, while laggards need credible value creation plans.
Editor's opinion
Strong markets lifted shareholder returns across sectors, but with indices at record highs companies face the challenge of sustaining TSR through fundamental value creation.
Key concepts
Total shareholder return · Value Creators rankings · Industry TSR dispersion · Sustaining TSR momentum