May 2026
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Largest Public Companies in Kuwait
Benchmark revenue and EBITDA valuation multiples for public comps like
Kuwait Finance House, National Bank of Kuwait, Boubyan Bank, Zain Group and Mabanee.
 | Kuwait Finance House is an Islamic banking institution. It provides a range of banking Sharia-compliant products and services which include real estate, trade finance, investment portfolios, commercial, retail, and corporate banking. The company's segments are Treasury, Investment, Retail & Private Banking, and Corporates Banking. The Treasury and Corporate Banking gains maximum revenue, and it operates in Kuwait, Middle East, European, and others. | $3 | +4% | $47B | $53B | 8.8x | — | ||
| National Bank of Kuwait SAK is a financial institution. The company's operating segment includes Consumer Banking, Corporate Banking, NBK Wealth, Islamic Banking, Group Centre, and International Banking. The company generates maximum revenue from the International Banking segment. The International Banking segment provides diversified products and services including lending, deposits, trade finance, etc. to corporate and individual customers. Geographically, it derives a majority of its revenue from Kuwait and also has a presence in the Middle East and North Africa; Europe and UK, and Other Countries. | $3 | -13% | $25B | $38B | 9.0x | — | ||
| Boubyan Bank KSC is a Kuwait based Islamic banking corporation. The company's operating segment includes Consumer banking; Corporate banking; Investment banking and international operations; Treasury; and Group centre. It generates maximum revenue from the Consumer banking segment. The Consumer Banking segment provides products and services to individuals and institutional customers which includes consumer finance, credit cards, deposits, and other branch-related services. Geographically, the company has a presence in the Middle East and North Africa, North America; Europe and UK, and Asia. | $2 | -2% | $10B | $12B | 13.6x | — | ||
| Mobile Telecommunications Co KSC is a mobile and data services operator. The company and its subsidiaries, along with associates, provide mobile telecommunication services. The company provides of technologies and digital lifestyle communications. Its geographical segments are Kuwait, Jordan, Bahrain, KSA, and others. | $2 | +22% | $8B | $14B | 1.8x | 5.2x | ||
| Mabanee Co KPSC is a Kuwait-based company which sells, purchases, develops, and operates real estate properties in Kuwait and abroad, including hotels, guest houses, residential and touristic complexes. The company operates through business segments namely Construction and real estate investment and Hotel operations. It generates maximum revenue from Construction and real estate investment segment. The Construction and real estate investment segment include real estate development, project leasing and construction activity for self or others. | $3 | +16% | $5B | $8B | 18.0x | 20.6x | ||
| Gulf Bank KSC is predominantly a Kuwait-based banking service company. The bank's business activities are mapped into two business lines which are Commercial Banking, and Treasury & Investments. Commercial Banking engages in the acceptance of deposits from individuals, corporate, and institutional customers, and providing consumer loans, overdrafts, credit card facilities, and funds transfer facilities to individuals; and other credit facilities to corporate and institutional customers. The Treasury & Investments segment provides money market, trading, and treasury services, as well as the management of the Bank's funding operations by use of Kuwait Government treasury bonds, government securities, placements, and acceptances with other banks. | $1 | +1% | $5B | $7B | 11.9x | — | ||
| Warba Bank (K.S.C.) is a Kuwait-based banking corporation involved in corporate, retail, and investment banking activities in accordance with the principles of Islamic Sharia. It has five operating segments; Corporate offers a range of banking services and investment products to corporate customers, in addition to providing commodity and real estate Murabaha finance and Ijara facilities. Retail offers diversified products and services to individual customers, Treasury includes Bank’s funding operations management, local and international Murabaha, and other Islamic financings with banks and financial institutions, Investment includes investment in direct equity, real estate investment, other investments, and asset management and Other includes cost center assets and expenses. | $1 | +14% | $4B | $5B | 15.5x | — | ||
| Commercial Bank Of Kuwait is a financial institution engaged in the provision of banking and financial services. The bank operates through two segments: Corporate and Retail Banking, which provides lending, deposit, and related banking services to corporate and individual customers; and Treasury and Investment Banking, which includes money market activities, foreign exchange, treasury instruments, and brokerage services. | $2 | -6% | $3B | $5B | 7.9x | — | ||
| National Mobile Telecommunications Co KSC is a communications company. It offers mobile, fixed, broadband internet, mobile telephone services, and corporate managed services. Its other business activity consists of purchase, supply, installation, management, and maintenance of wireless sets and equipment, mobile telephone services, pager system, and other telecommunication services. The company is organized geographically across the following principal operating segments: Kuwait, Tunisia, Algeria, Maldives, and Others. The reportable operating segments derive their revenue from telecommunications services. | $6 | +65% | $3B | $3B | 1.1x | 2.9x | ||
| Burgan Bank SAK is a Kuwait-based banking entity. Domestically, the company operates in the following business segments: Corporate and Consumer banking, Treasury, FI and Investment banking, and Central Office. In addition, all of its operations outside Kuwait are classified as International. A majority of its revenue is generated from the Corporate and Consumer banking segment, which provides comprehensive products and services to corporate and individual customers, including lending, deposits, trade services, foreign exchange, advisory services, credit and debit cards, and others. Geographically, the company generates maximum revenue from its business in Kuwait, and also has a presence in Turkey, Algeria, and Tunisia. | $1 | -23% | $2B | $4B | 4.6x | — | ||
| Al Ahli Bank Of Kuwait is a company engaged in the banking sector in Kuwait, the United Arab Emirates, and Egypt. The group is organized into three business segments. The commercial Banking segment comprises a full range of credit, deposit, and related banking services provided to its corporate and institutional customers. Treasury and Investments segment comprises treasury services provided to customers and balance sheet management activities including money market, derivatives, propriety investment activities, assets management and the residual impact of inter-segment fund transfer pricing, and the Retail and private banking segment comprising products and services to customers which includes loans, credit cards, and wealth management. | $1 | -11% | $2B | $4B | 6.3x | — | ||
| Kuwait Telecommunications Co KSC is a telecommunication service provider. The company provides internet access using 4G LTE technology, and 5G technology. The principal activities of the company are to purchase, supply, install, operate, and maintain wireless telecommunication devices and equipment. The company offers numerous opportunities in the field of telecommunications, entertainment, information, digital, and data transfer services. | $2 | +21% | $2B | $2B | 1.8x | 6.3x | ||
| National Industries Group Holding SAK operates in investment and its objectives are owning stocks and shares, lending money, owning industrial equities such as patents, and royalties, and owning real estate and movable property. The company has four segments Investments, Building Materials and Contracting services, Specialist Engineering and Hotel and IT operations. Geographically, it generates the majority of revenue from the Kuwait region. | $1 | +7% | $2B | $4B | 6.7x | 7.6x | ||
| Boursa Kuwait Securities Co KPSC operates as a financial exchange and clearing house in Kuwait. The company also provides securities-related services to participants in the financial sector. Its segments includes securities exchange and clearing, out of which the majority is from the securities exchange. | $9 | -13% | $2B | $2B | 9.5x | 11.9x | ||
| Kuwait International Bank KSC is an Islamic banking corporation based in Kuwait. The company's segments include Commercial and International Banking; Retail Banking; Treasury, Fund Management and Institutional Banking; Investment Management and others. It generates maximum revenue from the Commercial and International Banking segment. Commercial and International Banking segment comprising of range of banking services and investment products to corporate customers providing commodity and real estate Murabaha finance, Ijara and Wakala facilities. | $1 | +11% | $2B | $2B | 5.6x | — | ||
| Kuwait Real Estate Co is a Kuwait-based shareholding company that operates in the real estate sector. It is engaged in dealing with a range of real estate activities, including the sale, purchase, renting out, and leasing of lands and real estate properties, erecting buildings, prepare and implementing studies of private and public real estate projects. It has three operating segments: real estate, investment and services. The real estate segment contributes to the majority of the revenue. Its geographical segments are Kuwait; Other Middle Eastern Countries; the United States, Europe, and other countries. | $1 | +39% | $1B | $2B | 15.9x | 16.8x | ||
| Gulf Cable & Electrical Industries Co KSC is a manufacturer and supplier of electrical and telephone cables, electrical transformers, switches and distribution panels, and aluminum chips. The group has three operating segments which includes Cable manufacture; Investment and Rendering services. The Cable manufacture segment contributes the maximum revenue. Its product range includes medium and low voltage power cables, control cables, bare conductors, telephone, communication and instrumentation cables. The company operates in Kuwait, Middle East. | $6 | -12% | $1B | $1B | 4.5x | 16.0x | ||
| Ali Alghanim Sons Automotive Co KSC is engaged in the automotive business. The primary activities of the company are selling and purchasing cars and spare parts, importing and exporting light and heavy vehicles and cars, renting cars, maintaining light & heavy vehicles and cars, trading auto spare parts, and renting equipment and their maintenance. The Group is divided into three geographical segments that are: State of Kuwait, Iraq and United Arab Emirates. | $3 | -12% | $1B | $1B | 1.4x | 8.5x | ||
| Mezzan Holding Co KSC is engaged in the manufacturing, sale, and distribution of food and non-food products. It manufactures and distributes chips, snacks, meats, bottled water, and canned foods and is also involved in the catering business, providing meals to corporations, hotels, airlines, industrial sites, and government ministries. It operates in five segments namely: Food; Catering; Services; Fast Moving Consumer Goods, Healthcare Industrial; and Industrial. The firm derives most of its revenue from the Food segment. The company's geographical segments include Kuwait, Saudi Arabia, United Arab Emirates, Qatar, Jordan, Afghanistan, and Iraq. | $4 | +9% | $1B | $1B | 1.5x | 12.9x | ||
| Kuwait Projects Co Holding KSC is an investment holding company operating in the sector such as financial services, food, petrochemicals & oil services, media, real estate, and education. The business activity of the firm functions through various segments, which include Commercial Banking, Asset Management and Investment Banking, Media & Satellite Services, Energy, Industrial & Logistics, Hospitality and real estate, and others. It generates maximum revenue from the Commercial banking segment. Geographic areas of operation include Kuwait, the Rest of GCC, the Rest of the Middle East and North Africa, North America and Europe. | $0 | -9% | $1B | $9B | 2.8x | — | ||
| United Real Estate Co (K S C) is a diversified real estate company. The firm operates through a number of operating subsidiaries and investment arms across the Middle East and North Africa region. The company's core business is real estate development and operations. The company has four segments: Rental operations consist of leasing of properties; Hospitality operations consist of hospitality services; Real estate development &Property trading consist of purchase and resale of properties & development of real estate properties; and Contracting and services consist of managing third party properties. Its primary geographic markets are Kuwait, Jordan, Egypt and Oman out of which Kuwait generates maximum revenue for the company. | $1 | +30% | $1B | $2B | 6.8x | 20.0x | ||
| Jazeera Airways Co KSC is a Kuwait-based company that is involved in the business of air transportation and commercial passenger services. The company serves its customers by providing air transportation services including people air transportation, cargo, goods and mail, and aircraft-related services. In addition, the company also provides technical support, handling, and maintenance of aircraft, customs brokerage services, and the establishment of aircraft service stations, warehouses, hangars, workshops, factories, machinery, and devices. It operates a fleet of Airbus A320 aircraft with two-class cabins and serves around 19 destinations across the Middle East. The Company’s operating segments are the operation of passenger airline service & the operation and maintenance of the Terminal. | $5 | +6% | $1B | $2B | 2.2x | 8.6x | ||
| Agility Public Warehousing Co is a Kuwait-based company. The company's segment includes Controlled entities and Investments. It generates maximum revenue from the Controlled entities segment. The entities that are part of the Controlled entities segment provide services that include real estate, fuel logistics, airplane ground handling and cleaning services, cargo and lounge management, customs operations and management, construction and remote site services, customs consulting, and waste recycling. The company generates revenue from the following sources: logistics, ground handling and airport services, rental services, interest income, and dividend income. | $0 | -- | $1B | $2B | 3.8x | 4.3x | ||
| Arzan Financial Group for Financing and Investment KPSC is a company engaged in the provision of consumer instalment credit facilities and investments. The Group has four operating segments: instalment credit, investments, financial brokerage and real estate. It offers credit facilities to purchase consumer products, brokerage, investment platforms, third-party portfolio management services, and margin trading. It generates the majority of the revenue from the Investments segment. The Group’s activities, assets and liabilities are carried out and located in Kuwait, GCC, Middle East, USA and Europe. | $1 | -- | $1B | $1B | 35.9x | — | ||
| Boubyan Petrochemical Co KSC is engaged in manufacturing petrochemical material and its derivatives and also sells, purchases, supplies, distributes, exports and stores such materials. The company's operating segment includes Energy, manufacturing and petrochemical sector and Services and education, and Others. It generates maximum revenue from the Energy, manufacturing and petrochemical sector segment. | $2 | -- | $1B | $2B | 5.2x | 9.4x | ||
| HumanSoft Holding Co KSCP is Kuwait based company. The company is engaged, along with its subsidiaries, in establishing and managing private universities and colleges, providing computer education, language training, executive courses, and electronic commerce and media. The company is organized in business segments of Higher Education and Others. The company earns the majority of revenue from the Higher education segment. | $8 | -8% | $1B | $747M | 2.9x | 5.6x | ||
| Kuwait Cement Co is an integrated cement manufacturing company in Kuwait. Its operating business segments are the Manufacturing sector and Investment sector. The company generates maximum revenue from the Manufacturing sector segment. The Manufacturing sector of the company includes the production and sale of cement and ready-mix cement, and its products include Ordinary Portland Cement, Salt Resistant Cement, and many more. | $1 | -- | $1B | $1B | 4.9x | 27.7x | ||
| IFA Hotels & Resorts Co KSCC is engaged in the development and operations of mixed-use hotel and tourism resort projects and luxury leisure services. In addition, it invests in the land; and engages in property development activities. The company operates in four reportable segments namely property development, hospitality, investments, and others. The majority of the revenue is generated from the hospitality segment. Its geographical segments include Kuwait, the United Arab Emirates & Asia, Africa and others, of which the majority of revenue comes from the United Arab Emirates & Asia. | $3 | -7% | $810M | $787M | 10.1x | 16.1x | ||
| Noor Financial Investment Co is engaged in investment activities and financial services, mainly in Kuwait, the Middle East, Asia, and other emerging markets. It has a diverse portfolio of Direct Capital Market Investments, Real Estate, and Alternative Investments. The company manages a proprietary listed equity portfolio comprising local, GCC, and international equities. The Marketable Securities Unit continues to deploy funds in GCC and International equity markets, achieving good returns. The company operates in four segments, i.e., investment, Real Estate, IT services, and Hotel business. The majority of its revenue is generated from IT services. | $1 | +25% | $680M | $587M | 8.1x | 5.0x | ||
| National Real Estate Co KSC (NREC) is a real estate investment and development company. The company is engaged in the purchase, development, and sale of land, management of real estate properties, real estate construction, and maintenance services. The company reports in two segments: Real Estate and others, which include development, trading, leasing, and management of real estate properties and other activities, and the Investments segment which consists of investment in an associate, joint venture, and equity securities. The portfolio of company projects includes Residential, Malls, commercial, industrial, warehousing, and resorts. NREC has development projects in United Arab Emirates, Egypt, Jordan, Kuwait, and Libya. | $0 | -- | $642M | $1B | 94.1x | (5.3x) | ||
| Al-Maidan Dental Clinic Co KSC owns and operates dental centers. The company operates in two segments: Clinics and Hospitals. Clinics provide services relating to oral health care, diagnosis, consultations and treatment to outpatients with specialty in dental treatment. The hospital segment generates the majority of revenue for the firm, which includes services relating to medical diagnosis, health care, consultations, surgical and treatment to both outpatients and inpatients with various specialties. Geographically, all of its operations are conducted in the State of Kuwait. | $3 | +15% | $543M | $383M | 1.6x | 9.2x | ||
| Acico Industries Co KSCC is a multi-sector industrial and construction company that is a leader in manufacturing building materials and providing engineering, construction, and real estate services under a vertically integrated business model comprising six sectors: Industrial, Construction, Cement, Homes, Logistics, and Real Estate. In addition, the company also deals in shares and bonds. Its segments consist of Real Estate, Contracting, and Industrial. | $1 | -- | $474M | $951M | 3.6x | 19.3x | ||
| Commercial Facilities Co SAK is a Kuwait-based company engaged in the provision of instalment credit facilities to finance consumer and commercial products. Its services include financing new and used cars, boats, marine equipment, furniture and electrical appliances, basic construction materials, and granting personal cash loans, among others. The company's services fall into four divisions, including Consumer Loans, Cash Loans, Commercial Loans, and Basic Materials Loans. The company also offers its services through online. | $1 | -- | $454M | $892M | 15.9x | — | ||
| Kuwait National Cinema Company KPSC is a Kuwait-based company operates in the entertainment industry. It focuses on the activities related to the cinema industry, entertainment, and cultural events. The segment in which the company operates includes Cinema division, Concession division, and Investments division. Cinema segment covers activities related to cinema shows; the Concession segment covers activities related to concessions supplemented to theaters, and the Investment segment represents investments in shares and funds, in addition to investment properties. It generates maximum revenue from the Cinema Division segment. | $4 | +6% | $363M | $577M | 4.4x | 6.1x | ||
| Kuwait Investment Co SAK is an investment company. The company has four operating segments which include Asset Management; Direct Investments and Corporate Finance (DICF); Treasury and Other operations. The company generates the majority of revenue from the DICF and Other operations segments. The DICF segment consists of managing subsidiaries, associates, long-term strategic investments, lending, real estate, and rental activities. Geographically, the company derives a majority of its revenue from Kuwait. | $1 | +12% | $338M | ($161M) | (1.5x) | (1.4x) | ||
| Advanced Technology Co KSCC is a medical equipment supplier to the Kuwait healthcare sector. Some of the services provided by the company are - Diagnostic imaging, Laboratory environmental management and Automation, Medical & surgical O.R solutions, Healthcare manpower services, and more. The firm operates in one business segment namely trading, installation, and maintenance of medical and healthcare-related products. It also engages in constructing, managing, and possessing hospitals, medical centers, clinics, and specialized labs. In addition, the firm offers a pharmacy license, and home care services. | $2 | -- | $332M | $1B | 1.9x | 150.1x | ||
| Median | $2 | +6% | $1B | $2B | 5.4x | 8.9x |
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