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There’s ample proof that stakeholder behavior is linked to the degree to which people trust and like a company.
The Trust & Like Score is, therefore, the chief element we use to measure the strength of a company’s brand and reputation.
The rankings presented here are derived from Caliber’s real-time tracking study, which assesses the public perceptions of companies listed on the Germany DAX40 Index daily.
The study incorporates 25,446 responses, representing a diverse sample of the German population.
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| Rank ⇅ | Company ⇅ | TLS 2022 ⇅ | TLS 2023 ⇅ | +/- ⇅ |
|---|---|---|---|---|
| 1 | Adidas | 72 | 75 | ▲ +3 |
| 2 | Siemens Healthineers | 70 | 71 | ▲ +1 |
| 3 | Daimler Truck | 68 | 70 | ▲ +2 |
| 4 | Siemens | 70 | 70 | — 0 |
| 5 | Deutsche Post | 69 | 69 | — 0 |
| 6 | Henkel | 68 | 69 | ▲ +1 |
| 7 | Airbus | 67 | 68 | ▲ +1 |
| 8 | BMW | 67 | 68 | ▲ +1 |
| 9 | Mercedes-Benz Group | 67 | 68 | ▲ +1 |
| 10 | Porsche Autom. Holding SE | 65 | 68 | ▲ +3 |
| 11 | Qiagen | 65 | 68 | ▲ +3 |
| 12 | SAP | 66 | 68 | ▲ +2 |
| 13 | Sartorius | 66 | 68 | ▲ +2 |
| 14 | Symrise | 65 | 68 | ▲ +3 |
| 15 | Zalando | 64 | 68 | ▲ +4 |
| 16 | Porsche AG | n/a | 67 | n/a |
| 17 | Brenntag | 65 | 66 | ▲ +1 |
| 18 | Covestro | 65 | 66 | ▲ +1 |
| 19 | Hannover Re | 67 | 66 | ▼ -1 |
| 20 | HeidelbergCement | 61 | 66 | ▲ +5 |
| 21 | Infineon Technologies | 62 | 66 | ▲ +4 |
| 22 | MTU Aero Engines | 65 | 66 | ▲ +1 |
| 23 | Munich Re | 64 | 66 | ▲ +2 |
| 24 | Siemens Energy | 65 | 66 | ▲ +1 |
| 25 | Continental | 66 | 65 | ▼ -1 |
| 26 | Fresenius | 68 | 65 | ▼ -3 |
| 27 | Allianz | 60 | 64 | ▲ +4 |
| 28 | Deutsche Telekom | 58 | 64 | ▲ +6 |
| 29 | BASF | 59 | 63 | ▲ +4 |
| 30 | Beiersdorf | 63 | 63 | — 0 |
| 31 | Merck KGaA | 63 | 63 | — 0 |
| 32 | Volkswagen Group | 62 | 63 | ▲ +1 |
| 33 | Deutsche Börse | 57 | 60 | ▲ +3 |
| 34 | Rheinmetall | n/a | 59 | n/a |
| 35 | E.ON | 57 | 58 | ▲ +1 |
| 36 | Bayer | 61 | 57 | ▼ -4 |
| 37 | Commerzbank | 56 | 56 | — 0 |
| 38 | RWE | 55 | 56 | ▲ +1 |
| 39 | Deutsche Bank | 50 | 54 | ▲ +4 |
| 40 | Vonovia | 41 | 43 | ▲ +2 |
The Trust & Like Score (TLS) is Caliber’s core measure of stakeholder confidence. It combines two questions:
Trust: “Is this a company I trust?”
Likeability: “Is this a company I like?”
Together, these measures indicate which companies stakeholders are most likely to support and recommend—and which are better positioned to withstand scrutiny.
The TLS ranking is updated annually and is based on continuous measurement throughout the year, making it a stable benchmark rather than a one-off survey snapshot.
The ranking is the starting point. With Caliber, you can pinpoint what is driving trust and sentiment by:
stakeholder segment (customers, employees, investors, public)
topic drivers (leadership, ESG, products, governance, innovation)
time period (before/after key events)
competitive benchmarking across Denmark and other markets
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