As of November 27, 2024, Aramco is the most valuable company in Saudi Arabia, with a market cap of $1.771 billion. Following it are AL RAJHI BANKING AND INVESTMENT CORPORATION ($98.81 billion) and ACWA POWER COMPANY ($72.77 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 | $1,771 billion |
| 2 | AL RAJHI BANKING AND INVESTMENT CORPORATION | $98.81 billion |
| 3 | ACWA POWER COMPANY | $72.77 billion |
| 4 | SABIC | $54.78 billion |
| 5 | SAUDI TELECOM COMPANY | $53.1 billion |
| 6 | THE SAUDI NATIONAL BANK | $51.9 billion |
| 7 | SAUDI ARABIAN MINING COMPANY (MA'ADEN) | $51.5 billion |
| 8 | DR. SULAIMAN AL HABIB MEDICAL SERVICES GROUP COMPANY | $25.45 billion |
| 9 | ELM COMPANY | $22.85 billion |
| 10 | RIYAD BANK | $21.17 billion |
| 11 | SAUDI ELECTRICITY COMPANY | $18.63 billion |
| 12 | ALINMA BANK | $18.33 billion |
| 13 | SAUDI AWWAL BANK | $17.58 billion |
| 14 | SABIC AGRI-NUTRIENTS COMPANY | $14.19 billion |
| 15 | ALMARAI COMPANY | $14.19 billion |
| 16 | BANK ALBILAD | $11.75 billion |
| 17 | ETIHAD ETISALAT COMPANY | $11.23 billion |
| 18 | ARAB NATIONAL BANK | $10.43 billion |
| 19 | BANQUE SAUDI FRANSI | $9.96 billion |
| 20 | KINGDOM HOLDING COMPANY | $8.86 billion |
| 21 | ARABIAN INTERNET AND COMMUNICATION SERVICES COMPANY | $8.74 billion |
| 22 | BUPA ARABIA FOR COOPERATIVE INSURANCE COMPANY | $7.25 billion |
| 23 | SAVOLA GROUP COMPANY | $7.25 billion |
| 24 | SAUDI TADAWUL GROUP HOLDING COMPANY | $7.12 billion |
| 25 | JABAL OMAR DEVELOPMENT COMPANY | $6.53 billion |
| 26 | YANBU NATIONAL PETROCHEMICAL COMPANY | $5.61 billion |
| 27 | SAUDI RESEARCH AND MEDIA GROUP | $5.54 billion |
| 28 | SAL SAUDI LOGISTICS SERVICES COMPANY | $5.52 billion |
| 29 | THE NATIONAL SHIPPING COMPANY OF SAUDI ARABIA | $5.5 billion |
| 30 | ADES HOLDING COMPANY | $5.33 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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