August 2026
Largest Public Companies in Iceland
Benchmark revenue and EBITDA valuation multiples for public comps like
Arion banki, Islandsbanki, Embla Medical, Sildarvinnslan and Isfelag.
 | Arion banki hf is a universal relationship bank operating in the Icelandic financial market. Its operating segments are Markets & Stefnir, Corporate & Investment Banking, Retail Banking, Treasury, Other subsidiaries, and Supporting units. The Corporate & Investment Banking segment of the company generates the majority of the revenue and is engaged in providing comprehensive financial services to companies and investors both in Iceland and internationally. | $2 | -99% | $2.1B | $6.7B | 10.1x | - | ||
| Islandsbanki hf is a customer-centric universal bank. The company's segments include Personal Banking; Business Banking; Corporate and Investment Banking; Treasury and Proprietary Trading and Cost centres. It generates maximum revenue from the Business Banking segment. Business Banking provides small and medium-sized enterprises (SMEs) with comprehensive financial services, including Ergo, the Bank's asset financing service. | $1 | -99% | $2B | $5.9B | 10.6x | - | ||
| Embla Medical hf operates as an orthopedic products company specializing in the design, development, manufacturing and sales of prosthetics and bracing & supports products. The company also provides patient care through a network of Orthotic and Prosthetic (O&P) facilities. It sells its products in multiple countries, with Europe and North America representing its principal markets. The company operates within three business segments: Prosthetics & Neuro Orthotics, Bracing & Supports and Patient Care. The majority of the company's revenue is derived from the Prosthetics & Neuro Orthotics, which includes products designed for users with varying mobility needs, ranging from lower-activity applications to solutions intended for more active use. | $4 | -9% | $1.9B | $2.3B | 2.5x | 12.2x | ||
| Sildarvinnslan HF is the largest and most powerful fishery company. It is the most active in Iceland in the field of fishing and processing of pelagic species and the largest producer of fishmeal and fish oil. | $1 | -99% | $1.7B | $1.9B | 5.0x | 16.2x | ||
| Isfelag hfs is engaged in fishing and the processing of marine products. It is active in Iceland in the field of fishing and processing of pelagic species and production of fishmeal and fish oil and also produces sea-frozen seafood. Its products include COD fish, HADDOCK fish, SAITHE fish, CAPELIN fish, MACKEREL fish, HERRING fish etc. | $1 | -99% | $1.1B | $1.2B | 5.6x | 21.4x | ||
| Hagar hf is a retail company with operations in Iceland, the Faroe Islands, and the Netherlands, mainly in the grocery and fuel markets. It operates grocery stores, Olis service stations, OB stations, warehouses, one production facility, one online store with packaged food, one supply store, and one specialty store. The group's core business in Iceland is in the grocery and related warehouse sectors, as well as fuel sales. In the Faroe Islands, it operates the SMS retail company, which operates, among other things, various grocery stores, restaurants, and specialty stores. In the Netherlands, Hagar operates one online store with alcohol. The group's operating segments are stores and warehouses in Iceland, which generate maximum revenue, stores and warehouses in the Faroe Islands, and Olis. | $1 | -99% | $1B | $1.4B | 0.9x | 9.1x | ||
| Festi hf is an Iceland-based company that operates retail companies. Its operations consist of the food market, fuel, and service station market, and electronic equipment and smart devices market. The parent company Festi owns the subsidiaries Kronuna, which operates grocery stores of the same name, N1, which operates fuel and electricity sales service stations and various services related to lubrication and automotive services, ELKO, which is an electronics store, Lyfja, which operates 45 pharmacies and branches, Yrkir, which owns and operates the group's real estate, and Bakkann varuhotel, which specializes in warehouse services and distribution. Maximum of revenue is from Kronuna sector. | $2 | -99% | $772M | $1.1B | 0.8x | 7.8x | ||
| Reitir fasteignafelag hf is engaged in real estate sector. The company lease property to Iceland's companies and government organizations. Its portfolio consists of retail, office and other commercial real estate. | $1 | -99% | $629M | $1.9B | 12.8x | 9.8x | ||
| Heimar hf is a real estate company that invests in, leases and manages commercial premises in Iceland. | $0 | -99% | $539M | $1.7B | 12.8x | 13.4x | ||
| Kvika Banki hf is a financial services company with operations in Iceland and the United Kingdom. It delivers its services mainly online and offers solutions in asset management, payments, and banking for individuals, businesses, and investors. The company operates in four business segments: Commercial Banking, Investment Banking, which generates maximum revenue, Asset Management, and UK operations, through its subsidiaries. Retail financial services are delivered through specialized consumer brands such as Audur, Aur, and Netgiro, while corporate and institutional services are provided under the Kvika brand. In the UK, the bank operates under the Kvika and Ortus Secured Finance brands. | $0 | -99% | $506M | $1.2B | 7.6x | - | ||
| Hampidjan HF is engaged in the manufacturing of pelagic trawls for species such as redfish, blue whiting, herring & bottom trawls for species such as shrimp, langoustine, among others. It also manufactures ropes used in marine and offshore industry. Its products used for fishing, military, lifting, mooring, tugging. | $1 | -99% | $444M | $672M | 1.6x | 14.8x | ||
| Eik fasteignafelag hf is a real estate company. The company owns and leases real estate properties. Its real estate portfolio consists of housing, retail and office space in the business areas. It also engaged in leasing of commercial real estate. It offers spaces for offices, warehouses and retail spaces in both urban and rural area. | $0 | -99% | $405M | $1.3B | 13.5x | 15.0x | ||
| Sjova-Almennar tryggingar hf is an insurance company. It offers motor vehicle insurance, family and home insurance, life and critical illness insurance, medical cost insurance, life & health insurance in iceland. It also provides fire insurance, commercial property insurance, vessel crew insurance, transport cargo insurance, life- and critical illness insurance, and medical cost insurance. | $0 | -99% | $401M | $394M | 1.4x | - | ||
| Eimskipafelag Islands ehf Formerly Eimpskipafelag Islands provides shipping, logistics, and supply chain services. The company's operations are divided into two market segments namely Liner services and Forwarding services. The liner services segment includes operations such as port operations, cold storage facilities, warehousing, trucking and distribution, air freight, and agency services in Iceland and Norway. The forwarding services segment includes reefer forwarding, a system based on a network of own offices, association with deep-sea lines and associates. The company earns the majority of its revenues from Iceland, the Faroe Islands, and Asia. | $2 | -99% | $328M | $601M | 0.6x | 6.0x | ||
| Skagi hf is engaged in financial services sector. The Group operates through three operating segments: Insurance Operations, Insurance Investments, and Financial Services. Insurance Operations comprises the core insurance activities, including the underwriting of life, health, and general insurance products. Insurance Investments includes the management of assets backing insurance liabilities as well as proprietary investment activities. The Financial Services segment comprises activities such as asset management, loans to customers, and other noninsurance financial products. Key revenue is generated from Insurance operations. | $0 | -99% | $291M | $471M | 1.6x | - | ||
| Skel Fjarfestingafelag hf operates as an investment company to create value for shareholders, subsidiaries, associated companies, and other stakeholders. The Company achieves this by developing its asset portfolio, which spans various sectors. As a strategic investor, SKEL provides support and assistance to the companies, management teams, and entrepreneurs in which it invests. SKEL staff and management work closely with its partners to fully leverage opportunities, whether for established operating companies or business ideas. | $0 | -99% | $258M | $358M | ||||
| Siminn hf is an Iceland-based telecommunications company engaged in offering communication services. The operating segments of the company are Mobile, Internet, and Network; TV; Equipment sales; and Others. It derives a majority of the revenue from the Internet and Network segment, which involves revenue from data service, including xDSL service, GPON, Internet, IP net, core network, local loop, and access network. The Mobile segment involves revenue from mobile services in Iceland and abroad, whether traditional GSM service, satellite service, wholesale mobile service, or other mobile services. | $0 | -99% | $239M | $389M | ||||
| Icelandair Group hf through its subsidiaries provides airlines and tourism services in Iceland. The company's segments are Route network, Cargo operation and Leasing operation. It generates maximum revenue from the Route network operations segment. Geographically, it derives maximum revenue from Iceland and also has a presence in North America, West Continental Europe, Scandinavia, the United Kingdom, and Other countries. | $0 | -99% | $238M | $493M | ||||
| Kaldalon hf is engaged in the real estate business, focusing on the acquisition, ownership, and management of income-generating properties. The company operates mainly as a commercial real estate investment company, with a portfolio of industrial, warehouse, and commercial properties, generating revenue mainly through leasing activities. | $0 | -99% | $229M | $615M | ||||
| Nova Klubburinn hf a full-service telecommunications company operating in Iceland. Nova’s customers are individuals and small and medium sized corporations. It operates through three key business areas: mobile network, Fixed network and Goods sold and Others. | $0 | -99% | $107M | $169M | ||||
| Iceland Seafood International hf is engaged in the sale, processing, and marketing of frozen, salted, and fresh seafood. The company's operating segment includes Value-added Southern Europe; Value added Northern Europe; Sales and Distribution and Other. It generates maximum revenue from the Value-added Southern Europe segment. | $0 | -99% | $105M | $247M | ||||
| Kaldvik AS, formerly Ice Fish Farm AS provides salmon fishes. The company is engaged in the breeding activity of salmon fishes in Iceland and selling them to its customers across different locations. Geographically, the company generates a majority of its revenue from the European Union followed by the United States, and Iceland. | $1 | -63% | $87M | $301M | ||||
| Syn hf is an Iceland based Telecommunication and Media company. The company generates revenue from sales of Fixed line, Hosting and operating solutions, Retail sale and Other revenue which includes services revenue. | $0 | -99% | $43M | $197M | ||||
| Sláturfélag Suðurlands svf is a producer cooperative in Iceland, producing and selling predominantly meat products. The company operates in three areas, slaughter, meat industry, and import. It is a food producer offering meat products, meat processing products, and imported foodstuffs in Iceland. | $0 | -99% | $15M | $15M | ||||
| Solid Clouds hf is engaged in information technology, software development, and the creation and marketing of computer games. It has a focus on creating a technology framework for the fast production of massively multiplayer online real-time games. Geographically group generates the majority of its revenue from the United States of America. It has income from the sale of virtual goods in the computer games. | $0 | -100% | $1M | $681K | ||||
| Median | $0 | -99% | $401M | $615M | 1.7x | 9.4x |
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