As of September 30, 2024, Aramco is the most valuable company in Saudi Arabia, with a market cap of $1.757 billion. Following it are ACWA POWER COMPANY ($95.68 billion) and AL RAJHI BANKING AND INVESTMENT CORPORATION ($93.93 billion).
Which one is the most valuable in Saudi Arabia by market cap? This list comprises the biggest companies currently in Saudi Arabia by market cap in 2024:
Saudi Arabia's Largest Companies by market capitalization, 2024
| RANK | COMPANY | MARKET CAPITAL (USD DOLLER) |
|---|---|---|
| 1 | ARAMCO | $1,757 billion |
| 2 | ACWA POWER COMPANY | $95.68 billion |
| 3 | AL RAJHI BANKING AND INVESTMENT CORPORATION | $93.93 billion |
| 4 | SABIC | $59.41 billion |
| 5 | SAUDI TELECOM COMPANY | $58.42 billion |
| 6 | THE SAUDI NATIONAL BANK | $55.46 billion |
| 7 | SAUDI ARABIAN MINING COMPANY (MA'ADEN) | $46.21 billion |
| 8 | DR. SULAIMAN AL HABIB MEDICAL SERVICES GROUP COMPANY | $27.82 billion |
| 9 | ELM COMPANY | $23.27 billion |
| 10 | RIYAD BANK | $20 billion |
| 11 | ALINMA BANK | $19.29 billion |
| 12 | SAUDI AWWAL BANK | $19.17 billion |
| 13 | SAUDI ELECTRICITY COMPANY | $18.66 billion |
| 14 | ALMARAI COMPANY | $14.95 billion |
| 15 | SABIC AGRI-NUTRIENTS COMPANY | $14.59 billion |
| 16 | BANK ALBILAD | $13.04 billion |
| 17 | ETIHAD ETISALAT COMPANY | $10.57 billion |
| 18 | BANQUE SAUDI FRANSI | $10.5 billion |
| 19 | ARAB NATIONAL BANK | $10.24 billion |
| 20 | KINGDOM HOLDING COMPANY | $10.17 billion |
| 21 | ARABIAN INTERNET AND COMMUNICATION SERVICES COMPANY | $9.01 billion |
| 22 | BUPA ARABIA FOR COOPERATIVE INSURANCE COMPANY | $8.78 billion |
| 23 | SAVOLA GROUP COMPANY | $8.46 billion |
| 24 | JABAL OMAR DEVELOPMENT COMPANY | $7.55 billion |
| 25 | SAUDI TADAWUL GROUP HOLDING COMPANY | $7.38 billion |
| 26 | YANBU NATIONAL PETROCHEMICAL COMPANY | $6.3 billion |
| 27 | SAUDI RESEARCH AND MEDIA GROUP | $6.27 billion |
| 28 | SAL SAUDI LOGISTICS SERVICES COMPANY | $6.09 billion |
| 29 | THE COMPANY FOR COOPERATIVE INSURANCE | $5.95 billion |
| 30 | SAUDI ARAMCO BASE OIL COMPANY - LUBEREF | $5.94 billion |
Market capitalization, commonly known as market cap, refers to the total market value of a company’s outstanding shares. It is calculated by multiplying the current stock price by the total number of shares outstanding. For example, if a company has 2.34 billion shares outstanding and its stock price is $66.66 per share, its market cap would be $156 billion (2,340,000,000 x $66.66). Investors often use the market cap as a quick estimate of a company’s overall value and as a factor in determining whether to buy a stock. Stocks are often categorized by market cap: mega-cap ($100 billion-plus), large-cap ($10 billion-$100 billion), mid-cap ($2 billion-$10 billion), small-cap ($300 million-$2 billion), and micro-cap (less than $300 million).
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