September 2026
Largest Public Companies in Papua New Guinea
Benchmark revenue and EBITDA valuation multiples for public comps like
BSP Financial Group, Tolu Minerals, Pacific Lime and Cement, Kina Securities and Steamships Trading Co.
 | BSP Financial Group Ltd is a diversified business covering banking, asset finance, life insurance, and fund management. The company's operating segments include banking services, split into PNG Bank and Offshore Banks, and non-banking services, which comprise insurance operations, fund management, and asset financing activities. It generates a vast majority of its revenues from the PNG Bank segment. Geographically, the company operates in Papua New Guinea, Fiji, Solomon Islands, Cook Islands, Tonga, Samoa, Vanuatu, Cambodia, and Laos. | $6 | +12% | $2.6B | $2.6B | 3.4x | - | ||
| Tolu Minerals Ltd is engaged in mine acquisition and evaluation activities. Its project portfolio comprises the Tolukuma Gold Mine project and the Mt Penck gold-silver project, and other mineral deposits in Papua New Guinea (PNG). | $1 | +26% | $287M | $253M | 910.2x | (25.0x) | ||
| Pacific Lime and Cement Ltd is an investment holding company focused on exploration and evaluation in Papua New Guinea. The Group is organized into the following segments: Cement and Lime, which includes limestone and the Central Cement and Lime Project; Iron and Industrial Sands, focusing on the development of the Orokolo Bay Iron and Industrial Sands Project; Coal and Power, managing the Depot Creek coal resource and domestic power project proposals; Renewables, investing in forestry carbon credit projects and proposed solar and geothermal projects; and Corporate, providing group-level corporate services, investment, and treasury functions. | $0 | +42% | $228M | $198M | 519.6x | (19.5x) | ||
| Kina Securities Ltd provides diversified financial products and services. The company offers banking services, personal and commercial loans, money market operations, provision of share brokerage, fund administration, investment management services asset financing, and corporate advice. The Group's reportable segments include Banking & Finance and Wealth Management. The Banking & Finance segment includes the operations of the Bank while the Wealth Management segment includes fund management and fund administration business. It derives the majority of its revenues from the banking segment. | $1 | -7% | $221M | $221M | 1.6x | - | ||
| Steamships Trading Co Ltd is a diversified holding company. The company's operating segment includes i) Property and hospitality: It consists of shipping and land-based freight transport and related services divisions. ii) Logistics: It consists of shipping and land-based freight transport and related services divisions. iii) Commercial & investment: It consists of commercial, head office administration function and insurance activities. The majority of the company's revenue is derived from the Property and hospitality segment. Geographically, the company operates almost wholly in Papua New Guinea. | $6 | -27% | $198M | $354M | 2.4x | 7.2x | ||
| Median | $1 | +12% | $228M | $253M | 3.4x | (19.5x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.