S&P 500 · CandidatesWho Could Join Next
Meet every rule we can check
Bigger than members already in
Each dot is a company, placed by market value. The line is the S&P 500’s minimum for new members.Every large company not in the index
Recently added
Smallest members
Not removed for being small, but often the first to go when the index makes room.How a company gets into the S&P 500
A committee at S&P Dow Jones Indices picks new members, usually at the quarterly rebalance (third Friday of March, June, September and December) or when a member is bought out. It only considers companies that pass its published rules. This page checks the rules that can be checked from public data.
The rules
A US company, worth at least $22.7 billion, with positive GAAP profit in the latest quarter and over the last four, enough shares trading freely (at least 10%), active trading, and at least 12 months since its IPO.
The usual path
Most new members are promoted from the S&P MidCap 400 once they outgrow it. Companies in no S&P index can join directly.
The index effect
Index funds must buy new members, which used to give a reliable jump on the news. Research by Greenwood and Sammon finds that jump has largely disappeared since the 2000s. Being eligible is not a trade by itself.
What we cannot check
Free float, exact trading rules and the committee’s judgment, including sector balance. A company can pass everything here and still wait for years.
Sources and exact checks
- Members
- The S&P 500, MidCap 400 and SmallCap 600 lists on Wikipedia, refreshed twice a day.
- Minimum size
- $22.7 billion, as published by S&P Dow Jones Indices on July 1, 2025. S&P reviews it every quarter.
- Profit
- Net income from the SEC’s XBRL data: the sum of the last four quarters and the latest quarter. Many companies report the fourth quarter only inside the full year; then the latest quarter shows as unknown.
- Trading
- Average daily shares traded times the price, over a year, against market value. S&P asks for at least 0.75 on the float-adjusted value; we use the full value, which is stricter for companies with a small float.
- IPO seasoning
- Checked against our IPO calendar of the last 15 months.
Good to know. This is not a list of predicted additions, and nothing here is advice to buy or sell.
For education only. Data comes from SEC filings, Wikipedia and third-party price sources and may be delayed or wrong. Nothing here is investment advice or a recommendation to buy, sell or hold anything. See the Terms and Disclaimer.