As of January 21, 2025, ARAMCO is the most valuable company in the Middle East, with a market cap of $1,816 billion. Following it are INTERNATIONAL HOLDING COMPANY ($241 billion) and AL RAJHI BANKING AND INVESTMENT CORPORATION ($102 billion).
Which one is the most valuable in the Middle East by market cap? This list comprises the biggest companies currently in the Middle East by market cap in 2024:
The Middle East's Largest Companies by market capitalization, 2024
| RANK | COMPANY | MARKET CAPITAL (USD DOLLAR) |
|---|---|---|
| 1 | ARAMCO | $1,816 billion |
| 2 | INTERNATIONAL HOLDING COMPANY | $241 billion |
| 3 | AL RAJHI BANKING AND INVESTMENT CORPORATION | $102 billion |
| 4 | ABU DHABI NATIONAL ENERGY COMPANY | $95.81 billion |
| 5 | ACWA POWER COMPANY | $85 billion |
| 6 | ADNOC GAS PLC | $71.04 billion |
| 7 | SAUDI TELECOM COMPANY | $56.51 billion |
| 8 | THE SAUDI NATIONAL BANK | $56.11 billion |
| 9 | SABIC | $54.95 billion |
| 10 | SAUDI ARABIAN MINING COMPANY (MA'ADEN) | $49.09 billion |
| 11 | FIRST ABU DHABI BANK | $42.62 billion |
| 12 | QATAR NATIONAL BANK (Q.P.S.C.) | $42.12 billion |
| 13 | KUWAIT FINANCE HOUSE K.S.C.P. | $41.18 billion |
| 14 | EMIRATES TELECOMMUNICATIONS GROUP COMPANY | $38.78 billion |
| 15 | EMIRATES NBD BANK | $38.35 billion |
| 16 | DUBAI ELECTRICITY AND WATER AUTHORITY | $34.98 billion |
| 17 | ALPHA DHABI HOLDING | $33.54 billion |
| 18 | INVEST BANK | $32.24 billion |
| 19 | EMAAR PROPERTIES | $31.16 billion |
| 20 | DR. SULAIMAN AL HABIB MEDICAL SERVICES GROUP COMPANY | $26.97 billion |
| 21 | ELM COMPANY | $26.1 billion |
| 22 | QNB FINANSBANK | $25.36 billion |
| 23 | NATIONAL BANK OF KUWAIT S.A.K.P. | $25.14 billion |
| 24 | ADNOC DRILLING COMPANY | $23.91 billion |
| 25 | RIYAD BANK | $23.2 billion |
| 26 | INDUSTRIES QATAR Q.P.S.C. | $22.34 billion |
| 27 | ABU DHABI COMMERCIAL BANK | $21.68 billion |
| 28 | BOROUGE PLC | $20.38 billion |
| 29 | ALINMA BANK | $20.06 billion |
| 30 | SAUDI AWWAL BANK | $19.64 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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