The annual Brand Finance Global 500 report is back, and for the second year running, Telstra has ascended to the throne as Australia’s most valuable brand. Commonwealth Bank pipped ANZ at the post to take out number two.

The Brand Finance Global 500 and Australia 100 research ranks brands by monetary values and calculates the most ‘powerful’ brands, as defined by the companies whose enterprise value is most positively impacted by the strength of the brand.

In the supermarket stakes, Woolworths still beat rival Coles by one place, coming in fifth despite a 21 per cent decline in brand value from 2016. Coles showed the biggest gain of any Aussie company, jumping 21 per cent in the opposite direction to Woollies.

Channel Seven was the only media brand to make it into the top 100 most valuable brands down under, landing at #55.

Globally, most valuable brand Apple was pushed off its podium after five years at the top, with Google rising like a phoenix into number one place.

In another shakeup, Lego replaced Disney as the world’s most powerful brand, with Disney slipping behind the likes of Nike, Google and Visa to settle at sixth place.

Here’s the top 10 Aussie companies:

1. Telstra
2. Commbank
3. ANZ
4. nab
5. Woolworths
6. Coles
7. Westpac
8. BHP Billiton
9. Optus
10. Macquarie

And now the top valuable brands globally:

1. Google
2. Apple
3. Amazon
4. AT&T
5. Microsoft
6. Samsung
7. Verizon
8. Walmart
9. Facebook
10. ICBC

As for the most powerful brands in the world:

1. Lego
2. Google
3. Nike
4. Ferrari
5. Visa
6. Disney
7. NBC
8. pwc
9. Johnson & Johnson
10. McKinsey&Company