State-owned companies and their brands
225 of the 3,040 companies on Brandtree are recorded as state-owned, and between them they control 388 of the 11,970 brands that have a known controlling owner (3.2%). Poland has the most state-owned companies (14 of 225). The highest share of any category is Travel & transport: 271 of 1,827 brands (14.8%).
How this was computed
- State-owned here means a company whose own record on Brandtree is typed state-owned from its sources: 225 of 3,040 companies.
- Holdings by a government through a fund or holding company that is typed otherwise (for example a national investment fund), or a listed company with a state as its largest shareholder, are not counted here.
- A company's brands are those it controls today, directly or through controlled subsidiaries (owned or a stake of at least 50%). Brands reached through more than one state-owned company are counted once in totals and category shares, but appear in each company's own count.
- Category share = brands controlled by a state-owned company / brands in that category with any recorded controlling owner today (11,970 of 12,226 brands). Categories with fewer than 5 such brands show counts only.
- Country is the headquarters of the state-owned company, not the brand's origin. Country rows sum to 225 companies; brand counts per country are deduplicated within the country, so they need not sum to 388.
By headquarters country
103 countries host at least one state-owned company. Denominator: 225 state-owned companies; 224 of them control at least one brand on record, 1 do not.
| Country | State-owned companies | Share of 225 | Brands controlled | Top-level categories | Listed |
|---|---|---|---|---|---|
| 🇵🇱 Poland | 14 | 6.2% | 15 | 1 | 0 |
| 🇮🇳 India | 11 | 4.9% | 22 | 2 | 7 |
| 🇬🇧 United Kingdom | 9 | 4.0% | 25 | 1 | 0 |
| 🇨🇿 Czech Republic | 8 | 3.6% | 10 | 1 | 0 |
| 🇺🇸 United States | 6 | 2.7% | 7 | 1 | 0 |
| 🇮🇪 Ireland | 5 | 2.2% | 11 | 2 | 0 |
| 🇳🇴 Norway | 5 | 2.2% | 9 | 2 | 0 |
| 🇦🇪 United Arab Emirates | 5 | 2.2% | 7 | 2 | 0 |
| 🇸🇰 Slovakia | 5 | 2.2% | 5 | 1 | 0 |
| 🇫🇷 France | 4 | 1.8% | 10 | 2 | 0 |
| 🇸🇪 Sweden | 4 | 1.8% | 9 | 2 | 0 |
| 🇮🇩 Indonesia | 4 | 1.8% | 8 | 1 | 0 |
| 🇨🇭 Switzerland | 4 | 1.8% | 7 | 1 | 0 |
| 🇿🇦 South Africa | 4 | 1.8% | 7 | 2 | 0 |
| 🇨🇦 Canada | 4 | 1.8% | 6 | 2 | 0 |
| 🇩🇪 Germany | 4 | 1.8% | 6 | 1 | 0 |
| 🇩🇰 Denmark | 4 | 1.8% | 6 | 1 | 0 |
| 🇷🇴 Romania | 4 | 1.8% | 6 | 2 | 3 |
| 🇴🇲 Oman | 3 | 1.3% | 8 | 2 | 0 |
| 🇸🇦 Saudi Arabia | 3 | 1.3% | 8 | 2 | 0 |
| 🇭🇺 Hungary | 3 | 1.3% | 7 | 2 | 0 |
| 🇰🇿 Kazakhstan | 3 | 1.3% | 7 | 2 | 0 |
| 🇳🇿 New Zealand | 3 | 1.3% | 6 | 1 | 0 |
| 🇨🇳 China | 3 | 1.3% | 3 | 1 | 0 |
| 🇧🇹 Bhutan | 3 | 1.3% | 2 | 2 | 0 |
| 🇨🇴 Colombia | 2 | 0.9% | 7 | 2 | 1 |
| 🇹🇼 Taiwan | 2 | 0.9% | 7 | 3 | 0 |
| 🇦🇺 Australia | 2 | 0.9% | 6 | 2 | 0 |
| 🇧🇳 Brunei | 2 | 0.9% | 6 | 4 | 0 |
| 🇲🇾 Malaysia | 2 | 0.9% | 6 | 1 | 0 |
| 🇳🇱 Netherlands | 2 | 0.9% | 5 | 1 | 0 |
| 🇧🇷 Brazil | 2 | 0.9% | 4 | 2 | 1 |
| 🇰🇼 Kuwait | 2 | 0.9% | 4 | 2 | 0 |
| 🇳🇬 Nigeria | 2 | 0.9% | 4 | 2 | 0 |
| 🇵🇹 Portugal | 2 | 0.9% | 4 | 1 | 0 |
| 🇹🇭 Thailand | 2 | 0.9% | 4 | 1 | 0 |
| 🇦🇷 Argentina | 2 | 0.9% | 3 | 2 | 1 |
| 🇪🇸 Spain | 2 | 0.9% | 3 | 1 | 0 |
| 🇬🇱 Greenland | 2 | 0.9% | 3 | 2 | 0 |
| 🇮🇹 Italy | 2 | 0.9% | 3 | 1 | 0 |
| 🇦🇿 Azerbaijan | 2 | 0.9% | 2 | 2 | 0 |
| 🇨🇱 Chile | 2 | 0.9% | 2 | 1 | 0 |
| 🇩🇿 Algeria | 2 | 0.9% | 2 | 2 | 0 |
| 🇫🇮 Finland | 2 | 0.9% | 2 | 1 | 0 |
| 🇯🇵 Japan | 2 | 0.9% | 2 | 1 | 0 |
| 🇵🇪 Peru | 2 | 0.9% | 2 | 2 | 0 |
| 🇷🇸 Serbia | 2 | 0.9% | 2 | 1 | 0 |
| 🇰🇷 South Korea | 1 | 0.4% | 7 | 1 | 1 |
| 🇧🇾 Belarus | 1 | 0.4% | 6 | 1 | 0 |
| 🇨🇺 Cuba | 1 | 0.4% | 6 | 1 | 0 |
| 🇪🇹 Ethiopia | 1 | 0.4% | 5 | 2 | 0 |
| 🇺🇦 Ukraine | 1 | 0.4% | 4 | 1 | 0 |
| 🇪🇬 Egypt | 1 | 0.4% | 3 | 1 | 0 |
| 🇦🇹 Austria | 1 | 0.4% | 2 | 1 | 0 |
| 🇰🇾 Cayman Islands | 1 | 0.4% | 2 | 1 | 0 |
| 🇱🇹 Lithuania | 1 | 0.4% | 2 | 1 | 0 |
| 🇱🇺 Luxembourg | 1 | 0.4% | 2 | 1 | 0 |
| 🇲🇦 Morocco | 1 | 0.4% | 2 | 1 | 0 |
| 🇶🇦 Qatar | 1 | 0.4% | 2 | 1 | 0 |
| 🇸🇮 Slovenia | 1 | 0.4% | 2 | 1 | 0 |
| 🇦🇴 Angola | 1 | 0.4% | 1 | 1 | 0 |
| 🇧🇩 Bangladesh | 1 | 0.4% | 1 | 1 | 0 |
| 🇧🇭 Bahrain | 1 | 0.4% | 1 | 1 | 0 |
| 🇧🇴 Bolivia | 1 | 0.4% | 1 | 1 | 0 |
| 🇧🇼 Botswana | 1 | 0.4% | 1 | 1 | 0 |
| 🇨🇩 Democratic Republic of the Congo | 1 | 0.4% | 1 | 1 | 0 |
| 🇨🇲 Cameroon | 1 | 0.4% | 1 | 1 | 0 |
| 🇪🇨 Ecuador | 1 | 0.4% | 1 | 1 | 0 |
| 🇪🇪 Estonia | 1 | 0.4% | 1 | 1 | 0 |
| 🇬🇪 Georgia | 1 | 0.4% | 1 | 1 | 0 |
| 🇬🇬 Guernsey | 1 | 0.4% | 1 | 1 | 0 |
| 🇭🇰 Hong Kong | 1 | 0.4% | 1 | 1 | 0 |
| 🇭🇷 Croatia | 1 | 0.4% | 1 | 1 | 0 |
| 🇮🇲 Isle of Man | 1 | 0.4% | 1 | 1 | 0 |
| 🇰🇪 Kenya | 1 | 0.4% | 1 | 1 | 0 |
| 🇱🇦 Laos | 1 | 0.4% | 1 | 1 | 0 |
| 🇱🇰 Sri Lanka | 1 | 0.4% | 1 | 1 | 0 |
| 🇱🇻 Latvia | 1 | 0.4% | 1 | 1 | 0 |
| 🇱🇾 Libya | 1 | 0.4% | 1 | 1 | 0 |
| 🇲🇲 Myanmar | 1 | 0.4% | 1 | 1 | 0 |
| 🇲🇳 Mongolia | 1 | 0.4% | 1 | 1 | 0 |
| 🇲🇺 Mauritius | 1 | 0.4% | 1 | 1 | 0 |
| 🇲🇻 Maldives | 1 | 0.4% | 1 | 1 | 0 |
| 🇲🇽 Mexico | 1 | 0.4% | 1 | 1 | 0 |
| 🇲🇿 Mozambique | 1 | 0.4% | 1 | 1 | 0 |
| 🇳🇵 Nepal | 1 | 0.4% | 1 | 1 | 0 |
| 🇳🇷 Nauru | 1 | 0.4% | 1 | 1 | 0 |
| 🇵🇫 French Polynesia | 1 | 0.4% | 1 | 1 | 0 |
| 🇵🇬 Papua New Guinea | 1 | 0.4% | 1 | 1 | 0 |
| 🇵🇰 Pakistan | 1 | 0.4% | 1 | 1 | 0 |
| 🇷🇼 Rwanda | 1 | 0.4% | 1 | 1 | 0 |
| 🇸🇧 Solomon Islands | 1 | 0.4% | 1 | 1 | 0 |
| 🇸🇨 Seychelles | 1 | 0.4% | 1 | 1 | 0 |
| 🇸🇩 Sudan | 1 | 0.4% | 1 | 1 | 0 |
| 🇸🇽 Sint Maarten | 1 | 0.4% | 1 | 1 | 0 |
| 🇹🇹 Trinidad and Tobago | 1 | 0.4% | 1 | 1 | 0 |
| 🇹🇿 Tanzania | 1 | 0.4% | 1 | 1 | 0 |
| 🇺🇬 Uganda | 1 | 0.4% | 1 | 1 | 0 |
| 🇺🇿 Uzbekistan | 1 | 0.4% | 1 | 1 | 0 |
| 🇻🇪 Venezuela | 1 | 0.4% | 1 | 1 | 0 |
| 🇻🇺 Vanuatu | 1 | 0.4% | 1 | 1 | 0 |
| 🇼🇸 Samoa | 1 | 0.4% | 1 | 1 | 0 |
| 🇿🇼 Zimbabwe | 1 | 0.4% | 1 | 1 | 0 |
Share of each category controlled by a state-owned company
Each row's denominator is the brands in that category with a known controlling owner today (11,970 across all categories). The bar shows the state-owned share.
| Category | State-owned | Brands with a controlling owner | Share | Bar |
|---|---|---|---|---|
| Travel & transport | 271 | 1,827 | 14.8% | |
| Energy | 90 | 797 | 11.3% | |
| Tobacco & nicotine | 10 | 173 | 5.8% | |
| Beverages | 6 | 1,303 | 0.5% | |
| Food | 9 | 2,153 | 0.4% | |
| Internet & digital | 1 | 633 | 0.2% | |
| Home, garden & DIY | 1 | 746 | 0.1% | |
| Finance & insurance | 0 | 1,023 | 0% | |
| Personal care & beauty | 0 | 599 | 0% | |
| Apparel, footwear & accessories | 0 | 579 | 0% | |
| Media & entertainment | 0 | 412 | 0% | |
| Home care | 0 | 406 | 0% | |
| Healthcare & pharma | 0 | 270 | 0% | |
| Retail | 0 | 186 | 0% | |
| Pet & animal care | 0 | 163 | 0% | |
| Restaurants & foodservice | 0 | 162 | 0% | |
| Automotive | 0 | 152 | 0% | |
| Telecom | 0 | 127 | 0% | |
| Consumer health | 0 | 124 | 0% | |
| Technology | 0 | 95 | 0% | |
| Real estate | 0 | 29 | 0% | |
| Sport & fitness | 0 | 11 | 0% | |
| All categories | 388 | 11,970 | 3.2% |
Largest state-owned portfolios
The 25 state-owned companies controlling the most brands, from 224 that control any. A parent and its state-owned subsidiary can both list the same brands.
| Company | HQ | Brands controlled | Share of 388 | Categories | Listed |
|---|---|---|---|---|---|
| DfT Operator | 🇬🇧 United Kingdom | 9 | 2.3% | 1 | No |
| KEPCO | 🇰🇷 South Korea | 7 | 1.8% | 1 | Yes |
| Ecopetrol | 🇨🇴 Colombia | 6 | 1.5% | 1 | Yes |
| Habanos | 🇨🇺 Cuba | 6 | 1.5% | 1 | No |
| SNCF | 🇫🇷 France | 6 | 1.5% | 1 | No |
| Kommunarka | 🇧🇾 Belarus | 6 | 1.5% | 1 | No |
| TTL | 🇹🇼 Taiwan | 6 | 1.5% | 2 | No |
| Ethiopian Airlines | 🇪🇹 Ethiopia | 5 | 1.3% | 2 | No |
| Ghanim International | 🇧🇳 Brunei | 5 | 1.3% | 3 | No |
| MVM | 🇭🇺 Hungary | 5 | 1.3% | 1 | No |
| Oman Airports | 🇴🇲 Oman | 5 | 1.3% | 1 | No |
| TfL | 🇬🇧 United Kingdom | 5 | 1.3% | 1 | No |
| Avinor | 🇳🇴 Norway | 4 | 1.0% | 1 | No |
| ESB | 🇮🇪 Ireland | 4 | 1.0% | 1 | No |
| Malaysia Aviation Group | 🇲🇾 Malaysia | 4 | 1.0% | 1 | No |
| Naftogaz | 🇺🇦 Ukraine | 4 | 1.0% | 1 | No |
| ONGC | 🇮🇳 India | 4 | 1.0% | 1 | Yes |
| KAI | 🇮🇩 Indonesia | 4 | 1.0% | 1 | No |
| Schiphol Group | 🇳🇱 Netherlands | 4 | 1.0% | 1 | No |
| Saudia | 🇸🇦 Saudi Arabia | 4 | 1.0% | 1 | No |
| Saudi Aramco | 🇸🇦 Saudi Arabia | 4 | 1.0% | 1 | No |
| Snowy Hydro | 🇦🇺 Australia | 4 | 1.0% | 1 | No |
| Swedavia | 🇸🇪 Sweden | 4 | 1.0% | 1 | No |
| Airports Company South Africa | 🇿🇦 South Africa | 3 | 0.8% | 1 | No |
| Airports of Thailand | 🇹🇭 Thailand | 3 | 0.8% | 1 | No |
State-owned companies that are also listed
14 of 225 companies typed state-owned have a stock-exchange ticker recorded. Most listed companies with a state as the largest shareholder are typed publicly listed instead, so this table is short by construction.
| Company | HQ | Exchange and symbol | Brands controlled |
|---|---|---|---|
| Romgaz | 🇷🇴 Romania | BVB: SNG | 2 |
| Transgaz | 🇷🇴 Romania | BVB: TGN | 2 |
| Hidroelectrica | 🇷🇴 Romania | BVB: H2O | 1 |
| ONGC | 🇮🇳 India | NSE: ONGC | 4 |
| BPCL | 🇮🇳 India | NSE: BPCL | 3 |
| NTPC | 🇮🇳 India | NSE: NTPC; BSE: 532555 | 3 |
| Indian Oil | 🇮🇳 India | NSE: IOC | 2 |
| Oil India | 🇮🇳 India | NSE: OIL | 2 |
| CONCOR | 🇮🇳 India | NSE: CONCOR; BSE: 531344 | 1 |
| Shipping Corporation of India | 🇮🇳 India | NSE: SCI; BSE: 523598 | 1 |
| KEPCO | 🇰🇷 South Korea | NYSE: KEP | 7 |
| Ecopetrol | 🇨🇴 Colombia | NYSE: EC | 6 |
| Petrobras | 🇧🇷 Brazil | NYSE: PBR | 3 |
| YPF | 🇦🇷 Argentina | NYSE: YPF; BYMA: YPFD | 2 |
What this does not show
- It is not the full extent of government ownership. Government holdings through funds or holding companies typed otherwise, and listed companies with a state as largest shareholder, are not counted. As a rough estimate, about 47 of the 2,815 companies not typed state-owned have a description mentioning a government or state holder (keyword scan of descriptions for: government of, state-owned, state owned, owned by the government, sovereign wealth, ministry of, majority-owned by the state, owned by the state, state-controlled, state controlled). The scan over- and under-matches, so treat it as an order of magnitude, not a count.
- Only brands tracked on Brandtree are counted. State-owned companies are mostly operating businesses such as utilities, rail, airlines and tobacco monopolies, so a small share in most consumer categories reflects what is tracked, not the size of the state sector.
- Stake size is not weighted: a company typed state-owned may be fully owned or majority-owned by a state.
- It does not say why a category has the share it does, and no owner is ranked by quality.
Related: brands owned by state-owned companies, foreign ownership, private equity footprint.