Apple, Google, Microsoft and Amazon top a new ranking of the world’s most valuable brands, according to the latest annual list published by Kantar. And the company rounding out the tech-leaning top five? McDonald’s.

The ascent of the Golden Arches, up from its sixth place ranking last year, shows how the fast food and beverage categories are resilient to market fluctuations, according to the 2023 Kantar BrandZ Most Valuable Global Brands report, which assesses brands’ value based on their financial performance and brand equity. Food and beverage brands declined in value by only 3% compared to last year, and fast food fell by just 4%. The business technology and services platforms category, by contrast, fell 24% year-over-year, and media and entertainment fell 32%.

Behind McDonald’s are Visa, Tencent (last year’s No. 5), Louis Vuitton and Mastercard.

See last year's BrandZ rankings

Coca-Cola returned to the top 10 for the first time in seven years, coming in at No. 10, up from 17 in 2022. Rival Pepsi joins the top 100, coming in at No. 91. Pepsi’s brand’s value is up 17% from last year. In March, Pepsi rolled out a new logo as part of its first rebrand since 2008. Starbucks and Walmart came in at 27 and 28, respectively. KFC ranked 80 and Budweiser was 88.

“This year’s results clearly show that, even in the current macroeconomic environment, it remains possible to find growth in any category and territory with the right strategy focused on establishing and maintaining strong connections with consumers,” Martin Guerrieria, head of Kantar BrandZ, said in a statement.

Kantar calculates the total brand value of the world’s top 100 brands to be at nearly $7 trillion for 2023. That total value is down 20% compared to last year, though still 47% higher than the 2019 value. Sustainability remains an untapped opportunity for brands—only 2% of the most valuable global brands are perceived as “leading” in this area.

Facebook led the social media platforms at No. 12, followed by Instagram (29), YouTube (34) and TikTok (41). Uber, FedEx, Shell, Sony and Pampers made up the last of the top 100.