June 2026
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Largest Public Companies in Portugal
Benchmark revenue and EBITDA valuation multiples for public comps like
EDP Group, Galp Energia, Millennium bcp, Jeronimo Martins and Sonae.
 | EDP is a vertically integrated utility company and is the largest generator, supplier, and distributor of electricity in Portugal. In addition to Portugal, EDP has sizable operations in Spain, Brazil, and the US. EDP owns 71% of EDP Renovaveis, the fourth-largest wind power owner/operator in the world. EDP delisted Energias do Brasil in August 2023 after buying out the 46% minorities. | $5 | +19% | $21B | $44B | 2.4x | 7.3x | ||
| Galp Energia SGPS SA is an integrated operator with business lines spanning from exploration and production to refining and marketing of oil products. Its operating segments include Upstream, Industrial and Midstream, Commercial and Renewables, and New Businesses. The Upstream segment involves, management of all activities relating to the exploration, development, and production of hydrocarbons. The Industrial & Midstream segment operates the Sines industrial site in Portugal, which includes all current refining activities, The Commercial segment encompasses the area of retail to final B2B and B2C customers of oil, gas, electricity, and convenience. The Renewables & New Businesses segment represents Galp’s presence in the renewable and new energies space. | $22 | +24% | $18B | $20B | 0.9x | 5.8x | ||
| Banco Comercial Portugues SA or Millennium BCP, is a Portuguese bank operating in Portugal, as well as Poland, Mozambique, and Angola. The bank offers a wide range of retail and corporate banking products and services. The bank's distribution network includes traditional branches, as well as online banking, call centers, mobile banking, ATMs, and point of sale systems. In addition to its emphasis on financial technology, BCP's business model has shifted focus to high-net worth individuals, business lending with growth potential, as well as divestiture of noncore assets in its portfolio. The bank's net revenue is mostly net interest income, with notable net commission and net trading income. BCP's earning assets are loans split nearly evenly between retail and corporate. | $1 | +42% | $16B | $22B | 4.8x | - | ||
| Jeronimo Martins SGPS SA operates in food distribution, agribusiness, and other businesses. The food distribution business is the group's main activity, which consists of retail and wholesale operations under the brand's Pingo Doce and Recheio in Portugal, Poland, and Colombia. The group segments. Portugal Retail: comprises the business unit of JMR (Pingo Doce supermarkets), Portugal Cash & Carry: includes the wholesale business unit Recheio, Poland Retail: the business unit which operates under the Biedronka banner, Colombia Retail: the business unit which operates under Ara banner, Poland Health and Beauty: includes the Hebe banner business unit which operates in Poland, & Others, eliminations and adjustments. The majority of revenue is derived from the Poland retail segment. | $21 | -17% | $13B | $17B | 0.4x | 5.9x | ||
| Sonae SGPS SA is a retail company that manages a variety of business portfolios, including food, sports goods, clothing & apparel, financial services, electronics, technology, and telecommunication. The company's business is divided into eight segments based on the business offerings: Sonae MC, Worten, Sonae Fashion, Iberian Sports Retail Group, Sonae FS, Sonae IM, Sonae Sierra, and NOS. The Sonae MC business segment, which generates most of the company's revenue, is the company's food retail unit and operates restaurants, supermarkets, and convenience stores, among others. The company operates globally but earns most of its revenue in Portugal. | $2 | +56% | $4B | $8B | 0.6x | 6.3x | ||
| Nos Sgps SA is engaged in cable and satellite television services, voice and Internet access services, video production and sale, advertising on Pay TV channels, cinema exhibition, and distribution, the production of channels for Pay TV, management of data centers, and consulting services in IT, mainly in the Portuguese market. The company’s business segments are Telco and Audiovisuals. The Telco segment includes fixed and mobile TV, internet, and voice services. The Audiovisuals segment comprises video production services and sales, cinema exhibition and distribution, and the acquisition and negotiation of Pay TV and VOD rights. | $6 | +30% | $3B | $5B | 2.3x | 5.1x | ||
| The Navigator Co SA produces and sells pulp, paper, and energy. The company segments is based on product type. The market pulp segment, which sells pulp paper to international paper producers. The UWF segment, which sells paper through retail stores (B2C) and commercial distribution (B2B). Tissue segment, which sells tissue paper for private label to national and international retail chains. The Biomass renewable energy segment includes the cogeneration units and the two independent thermoelectric power plants and Support. The majority of revenue comes from Rest of Europe. | $4 | +7% | $3B | $4B | 1.6x | 8.2x | ||
| REN-Redes Energeticas Nacionais Sgps SA is an energy and utilities company designed for the transmission and distributing electricity and natural gas. The company offers services that manage national energy transmission and distribution systems that include the national electric transmission grid (RNT), the national natural gas transportation grid (RNTGN) and the portgas distribution grid, enabling the creation of an Iberian electricity market that will develop the hydrogen corridor in Europe, together with other European TSOs (Enagas, GRTgaz, Terega and OGE). | $4 | +14% | $3B | $5B | 4.3x | 8.7x | ||
| Semapa SA makes and sells a variety of paper products as well as cement. The segments of the company are, paper and pulp segment is the production and sale of writing and printing thin paper (UWF) and domestic consumption paper (Tissue), and it is present in the whole value-added chain, from research and development of forestry and agricultural production to the purchase and sale of wood and the production and sale of bleached eucalyptus kraft pulp and electric and thermal energy, as well as its commercialization. The cement and derivatives segment sells cement, ready-mix concrete, and aggregates to the construction and building industries. The other business segment includes the collection and recovery of animal by-products and used cooking oils from ETSA. | $27 | +39% | $2B | $3B | 1.0x | 4.9x | ||
| Mota-Engil along with its subsidiaries is engaged in the public and private construction work and related activities, as well as waste collection and treatment. The company has its geographic presence in Europe, Africa and Latin America. | $5 | +20% | $2B | $4B | 0.7x | 3.7x | ||
| Altri SGPS SA manages forests and produces and sells pulp. The company owns and manages eucalyptus forests throughout Portugal and harvests timber. It focuses on the production of cellulosic fibers through three production units. The company produces cellulosic fibers for various applications, from printing and writing paper to domestic papers and the textile industry. The company generates maximum revenue from Sale of Cellulosic Fiber. | $6 | +1% | $1B | $2B | 2.0x | 15.2x | ||
| Sonaecom SA provides consultancy services in the area of information systems. Its business portfolio includes the Software and Technology area, with Bright Pixel Capital, the Online & Media area and the Telecommunications area. The company's main business segments include Media; Technologies; and Holding activities. It derives maximum revenue from Media Segment. | $3 | +19% | $1B | $795M | 40.1x | 15.0x | ||
| Corticeira Amorim SGPS SA (Corticeira Amorim) is a holding company engaged in cork-related products. The company's products include stoppers for wine and other spirits, granulated cork, rubber cork, cork floorings, and giftware. The business of the company is operated through Portugal, Spain, Tunisia, the United States, Australia, Germany, China, Italy, Argentina, France, and the Netherlands. The company derives the majority of its revenue from the European region. | $7 | -19% | $985M | $1B | 1.0x | 6.2x | ||
| CTT-Correios de Portugal SA is a logistics company domiciled in Portugal. The company organizes itself into four segments: mail, express and parcels, financial services, and bank. The mail segment, which generates a vast majority of the company’s revenue, provides mail postal services to business customers, distribution of advertising materials, and postal communication solutions, among others. Express and parcels, the next segment, provides parcel postal and courier services. The company provides financial services such as payment processing and retail banking through both the financial services segment and the bank segment. The company earns majority of its revenue domestically. | $7 | -21% | $916M | ($1B) | (0.7x) | (4.8x) | ||
| Ibersol SGPS SA., through its subsidiaries, operates a network of restaurant units in Portugal, Spain, and Angola. It provides services in the business segments such as Restaurants which comprises the units with table service and home delivery restaurant offerings, Counters which comprises the units with over-the-counter sales, and Concessions & Catering which includes all the other businesses, namely the catering activity and the units located in concession areas. Ibersol functions restaurant units through various brands, including Pizza Hut, Pasta Caffe, Pans & Company, Taco Bell, and Eat out Group. It derives maximum revenue from Concession segment. | $13 | +17% | $522M | $724M | 1.2x | 4.6x | ||
| Novabase SGPS is engaged in holding and managing financial holding in other companies. The company operates in two business segments, namely, Next-Gen, which develops IT consulting and services targeting mainly the financial services and Telecommunications industries. The Value Portfolio segment provides IT consulting and services to the government, transportation, energy industries, and IT staffing. It generates maximum revenue from the Next-Gen segment. | $10 | +11% | $385M | $367M | 2.5x | 16.1x | ||
| Toyota Caetano Portugal SA is a Portugal-based company involved in the automotive industry. The business activity of the group includes the import, assembly, and commercialization of light and heavy vehicles, and the import and sale of industrial equipment. In addition, it also provides technical after-sales services. Its reportable segments are; Vehicles which derives key revenue, Industrial equipment, and others. The company distributes its products under the Toyota and Lexus brand names. Geographically the business presence of the firm is seen across the region of Portugal, Germany, the United Kingdom, and Others. | $9 | +35% | $325M | $414M | 0.5x | 6.0x | ||
| Martifer SGPS SA is Portugal based holding company. Along with its subsidiaries, the firm operates in three business divisions: Metallic Constructions, which provides metallic constructions, aluminum and glass facades, and infrastructures for oil & gas; Naval Industry segment includes shipbuilding as well as the rendering of ship repair and ship conversion services; and Renewables segment includes the promotion and development of renewable energy projects, with special focus on the wind energy sector. Its geographical segments are Iberian Peninsula, Central Europe, and Other markets. | $3 | +11% | $265M | $325M | 1.1x | 7.1x | ||
| Sporting Clube de Portugal-Futebol is a football club playing in Portugal. The company is engaged in participation in professional football competitions, promotions and organization of sports events and activities related to football. | $1 | +2% | $225M | $456M | 2.6x | 3.9x | ||
| VAA-Vista Alegre Atlantis SA manufactures and distributes porcelain and ceramic items to wholesalers, retail shops, and direct customers in both the domestic and international markets. The company segments include Porcelain & other products, Stoneware, Crystal & Glass, and Earthenware. It derives maximum revenue from Stoneware. The company's geographical segments include Portugal, Spain, France, Germany, Italy, The Netherlands, Australia, the USA, the United Kingdom, Brazil, the Rest of Europe, and Other countries. | $1 | +5% | $208M | $297M | 1.8x | 9.3x | ||
| Ramada Investimentos e Industria SA manufactures steel products. It operates in two different business segments, namely, the Industry Segment, which includes the special steel and drawing mill activities, as well as the activity related to the management of the Group's financial holdings in which the Group is a minority shareholder; and the Real Estate Segment, devoted to managing real estate assets, among which is an area of forested land. The company generates the majority of its revenue from the Industry segment. | $8 | -5% | $202M | $201M | 16.8x | 19.8x | ||
| Teixeira Duarte SA is engaged in the business of the undertaking and management of investments, the coordination and supervision of other companies included in or related to its corporate group, operating in areas of strategic and organizational planning as well as the provision of administrative, and management, consulting, operational assistance in terms of human resources, technical and financial services in which the company has the stake. The firm has in construction, concessions and services, real estate, hospitality, distribution and automotive business sectors. The company operates in Portugal, Angola, Algeria, Brazil, Spain, France, Morocco, Mozambique, and Venezuela. | $0 | +35% | $201M | $778M | 0.9x | 4.4x | ||
| Sport Lisboa e Benfica-Futebol is a football club. The club derives income from activities related to the sale of audiovisual rights, sponsorship, advertising space, royalties, and transfer of players. Its products portfolio includes t-shirts, scarves, and sweaters for men, women, and kids. | $8 | +37% | $192M | $423M | 1.6x | 3.2x | ||
| Grupo Media Capital SGPS SA is a Portugal-based company engaged in the media industry. Group through its subsidiaries is engaged in broadcasting and producing television programs, music publishing, distribution of movie rights, Internet advertising and creation of Websites. Business activity is functioned through Portugal, Spain, and Latin America. It operates through various segment which are Television, Audiovisual Production and Radio and it derives the majority of the revenue from Television sector. | $2 | -4% | $186M | $218M | 1.1x | 13.7x | ||
| Samba Digital SGPS SA is an international sports and entertainment marketing agency. The company specializes in sports brands digital internationalization. | $17 | +8% | $172M | $172M | 23.8x | 579.2x | ||
| Farminveste SGPS SA is a holding company and its subsidiaries are active in the business of pharmacies, pharmaceutical distribution, information systems, health care, real estate, market intelligence and other services. | $6 | +109% | $122M | $265M | 0.3x | 5.0x | ||
| Glintt Global SA, formerly Glintt - Global Intelligent Technologies SA along with its holding provides Information Technology and related consulting services. It offers business consulting, management of IT infrastructures and solutions, physical design & automation, software solution, and support services. The company serves healthcare, pharma, financial services, and public sector. It operates in Portugal, Spain, Angola, Brazil, the United Kingdom, and Ireland. | $1 | +34% | $121M | $146M | 0.9x | 6.5x | ||
| Futebol Clube do Porto - Futebol SAD participates, promotes and organizes football matches and sports events. In addition, it owns and operates teams in basketball, handball, roller-hockey, billiards, swimming, and athletics. Geographically, the business activities are carried out through the region of Portugal. | $4 | +212% | $85M | $325M | 1.6x | 6.5x | ||
| PHarol SGPS SA is a holding company that owns shares in companies operating in the telecommunication field. Company geographically operates in Europe, United Kingdom, USA, Japan, and Other Countries. | $0 | +18% | $68M | $51M | - | (17.7x) | ||
| Estoril-Sol SGPS SA operates a gambling concession, on an exclusive basis in the Estoril permanent area, including other related trade and industries. The company's segments include which includes the Estoril and Lisbon Casinos, "Povoa de Varzim Game Concession", which includes the Povoa Casino, the license to explore online games by Estoril-Sol Digital, the "Licence for Online Gambling ", and the" Other "segment, which essentially includes the effects of Estoril-Sol, S.G.P.S., S.A., and the other operating activities of the Group. | $3 | -30% | $42M | ($38M) | (0.3x) | (1.4x) | ||
| IMPRESA SGPS SA is a media group with three business areas: SIC, IMPRESA Publishing, and IMPRESA Digital, with interests that cover television, cable channels, newspaper Expresso, magazines, internet properties, and distribution. The company operates an online platform, Impresa Media Criativa, that gathers all of its creative outlets. Geographically operations are carried out through the Portugal region. The operating segment of the group is Television, Publishing, and others. | $0 | +34% | $36M | $183M | 0.9x | 8.7x | ||
| Conduril - Engenharia SA is a civil engineering company. The business activity of the group includes construction of infrastructures including roads, highways, hydraulic installations, underground works, dams, bridges, railway station and among others. Geographically the business activity is carried out through the region of Portugal; however, it also holds a business presence in the region of Angola, Mozambique, Botswana, Cape Verde, Spain, and Morocco. | $17 | +8% | $31M | $144M | 1.0x | (10.0x) | ||
| Sporting Clube de Braga Futebol Sad is a professional sports company based at Braga Municipal Stadium, Portugal, engaged in professional football through national and international competitions, athlete training, sports event promotion, and related commercial and infrastructure activities. It operates men’s, women’s, youth, and reserve teams supported by the Sports City complex and training academy, generating revenue from licensing, broadcast rights, sponsorship, merchandising, ticketing, and corporate event packages. The company manages athletes’ registration rights, training facilities, and stadiums, including the Amelia Morais Stadium, with a focus on performance, financial sustainability, talent development, and operational strength. Its presence is mainly in Portugal. | $23 | +39% | $28M | $51M | 2.4x | 6.7x | ||
| Flexdeal Simfe SA is an investment managment company. The company invests in securities issued by companies eligible for investment by movable investment companies to promote the economy. | $6 | +4% | $22M | $11M | 4.6x | 5.9x | ||
| Sonagi SGPS SA is a real estate company that operates in investment, asset management, and real estate development. The company has invested in a diversified portfolio of real estate comprising offices, residential, retail, and industrial properties. | $1 | 0% | $13M | $95M | 10.6x | 16.7x | ||
| Raize-Instituicao De Pagamentos SA is a payments institution. The company operates a comprehensive loan servicing platform for companies and individuals and is the owner of a marketplace lender focused on SME lending. The company is authorized and regulated by the Bank of Portugal. | $2 | +94% | $8M | $8M | 5.4x | - | ||
| Median | $5 | +18% | $245M | $391M | 1.6x | 6.2x |
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