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Sector analysis · US

Consumer Discretionary: which companies drove growth

The 20 largest Consumer Discretionary companies by market cap at the end of Q3 2023 (30 Sep 2023), compared with Q3 2022.

The top 20 at Q3 2023

Q3 2023 vs Q3 2022: combined net profit $38.7B (+53%), median EPS +18% (16 of 20 up), market-cap-weighted price +12%. 20 of 20 reported.

Quarter
Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
Compared with
YoYQoQ

Weight is each company's share of the 20 companies' combined market cap. Contribution is the change in its owners' profit divided by their combined base profit, in percentage points, so the column adds up to the sector's earnings growth. EPS cannot be added across companies, which is why contributions use profit.

#CompanyWeightEPS $, base → nowEPS growthContributionPrice
1Amazon.com, Inc.AMZN34.9%0.28 → 0.94+236% +26.5 pp+11%
2Tesla, Inc.TSLA21.1%0.95 → 0.53−44% −5.4 pp−6%
3The Home Depot, Inc.HD8.0%4.24 → 3.81−10% −2.0 pp+9%
4McDonald's CorporationMCD5.1%2.68 → 3.17+18% +1.3 pp+15%
5NIKE, Inc.NKE3.9%0.93 → 0.94+1% −0.1 pp+16%
6Lowe's Companies, Inc.LOW3.2%0.25 → 3.07+1,128% +6.1 pp+11%
7Booking Holdings Inc.BKNG2.9%1.68 → 2.79+66% +3.2 pp+91%
8Starbucks CorporationSBUX2.8%0.76 → 1.06+39% +1.3 pp+8%
9The TJX Companies, Inc.TJX2.7%0.91 → 1.03+13% +0.5 pp+43%
10Airbnb, Inc.ABNB2.3%1.79 → 6.63+270% +12.0 pp+36%
11MercadoLibre, Inc.MELI1.7%2.51 → 7.15+185% +0.9 pp+56%
12Marriott International, Inc.MAR1.6%1.93 → 2.51+30% +0.5 pp+44%
13O'Reilly Automotive, Inc.ORLY1.5%0.64 → 0.75+17% +0.2 pp+31%
14Chipotle Mexican Grill, Inc.CMG1.3%0.18 → 0.23+28% +0.2 pp+23%
15Ford Motor CompanyF1.3%−0.21 → 0.30turned profitable +7.7 pp+10%
16Lululemon Athletica Inc.LULU1.3%2.00 → 1.96−2% 0.0 pp+38%
17General Motors CompanyGM1.2%2.27 → 2.20−3% −0.9 pp+6%
18AutoZone, Inc.AZO1.2%40.51 → 46.46+15% +0.2 pp+19%
19Hilton Worldwide Holdings Inc.HLT1.0%1.26 → 1.44+14% +0.1 pp+26%
20Ross Stores, Inc.ROST1.0%1.00 → 1.33+33% +0.4 pp+34%
Sector earnings growth100%+52.6 pp

Who joined and who left

0 joined and 0 left the top 20 since the previous quarter, as market caps moved.

Joined the top 20 since the previous quarter 0

Nobody joined.

Left the top 20 since the previous quarter 0

Nobody left.

EPS growth by company, Q3 2023 to Q2 2026

Each company's EPS growth year on year, every quarter it was in the top 20.

≤ −40%−20%0+20%≥ +40% Blue is growth, red is decline, grey is about zero; the colour stops deepening at ±40%.
  • turned profitableto loss crossed zero, so there is no growth rate to print
  • loss, smallerloss, bigger a loss in both quarters
  • outside not in the sector's top 20 that quarter
EPS growth of each company in the sector's top 20, by quarter
CompanyQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
AMZN+236%+3,233%+216%+94%+52%+86%+62%+33%+36%+5%+75%+242%
TSLA−44%+112%−44%−49%+17%−71%−72%−17%−37%−64%+12%−4%
HD−10%−15%−5%−1%−4%+7%−5%0%−1%−15%−4%+5%
MCD+18%+8%+9%−11%−1%0%−2%+12%+2%+8%+7%+6%
NKE+1%+21%−3%+50%−26%−24%−30%−86%−30%−31%−35%+414%
LOW+1,128%+12%−19%−9%−3%+13%−5%+2%−4%−11%−1%0%
BKNG+66%−80%+220%+27%+7%+409%−55%−38%+14%+37%+238%+131%
SBUX+39%+22%−14%−6%−25%−23%−50%−47%−85%−62%+32%+86%
TJX+13%+37%+22%+13%+11%+1%−1%+15%+12%+28%+29%+24%
ABNB+270%to loss+128%−12%−68%turned profitable−39%+20%+4%−26%+4%+33%
MELI+185%+1%+73%+104%+10%+288%+43%−1%+6%−12%−16%−11%
MAR+30%+35%−21%+13%−18%−44%+24%+3%+29%+2%+1%+2%
ORLY+17%+10%+10%+3%+1%−3%−3%+5%+12%+12%+16%+10%
CMG+28%+25%+24%+32%+22%+20%+8%−3%+4%outsideoutsideoutside
Fturned profitableto loss−25%−2%outsideoutsideoutsideoutsideoutsideto loss+425%loss, bigger
LULU−2%+463%+11%outsideoutside+16%outsideoutsideoutsideoutsideoutsideoutside
GM−3%+14%+51%+39%+22%to loss+31%outside−50%loss, bigger−15%−27%
AZO+15%outside+17%+8%+11%0%−2%−4%−6%−5%−2%+8%
HLT+14%−53%+35%+8%−4%+260%+18%+10%+28%−38%+35%+14%
ROST+33%+39%outside+20%+11%−2%outsideoutsideoutside+12%+37%+71%