October 2026
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. | $6 | +10% | $23B | $53B | 3.0x | 9.7x | ||
| 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. | $25 | +26% | $18B | $22B | 1.0x | 6.9x | ||
| Banco Comercial Portugues SA is a Portuguese private sector bank operating in Portugal, as well as Poland, Mozambique, Macau, and Angola. The bank offers a wide range of retail and corporate banking products and services. Its distribution network includes traditional branches, as well as online banking, call centers, mobile banking, ATMs, and point of sale systems. Along with its subsidiaries, it operates in the following segments: Retail Banking, Companies and Corporate, Private Banking, International Businesses, and Other. Maximum revenue is generated from the Retail Banking segment, which serves individuals, small businesses, and SMEs through a mix of mass-market services, personalized relationship management for higher-value customers, and includes the operations of ActivoBank. | $1 | +42% | $18B | $18B | 4.2x | - | ||
| 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. | $20 | -21% | $13B | $18B | 0.4x | 6.9x | ||
| 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 segments based on the business offerings: MC, Worten, Musti, Bright Pixel, Sierra, and NOS. The MC business segment, which generates maximum of the company's revenue, deals in the Portuguese food retail market and also operates in complementary businesses to retail activities, as well as in the health and beauty retail sector in Portugal and Spain. The company operates earns majority of its revenue in Portugal, while it also has its presence in Nordic Countries, Spain, Netherlands, Romania, France, Italy, England, and Rest of the World. | $2 | +45% | $4.6B | $9.4B | 0.7x | 7.4x | ||
| Nos Sgps SA is a group operating in communications, technology, and entertainment in Portugal. It provides fixed and mobile telecommunications services, internet, voice and data solutions, as well as cinema and audiovisual services. Its operations span telecommunications, information technology, and related businesses, offering digital and connectivity services to customers in Portugal. The company's business segments are: Telco, IT and Audiovisuals & Cinema. The majority of the company's revenue is derived from the Telco segment, which includes TV, Internet (fixed and mobile) and voice (fixed and mobile) services rendered. | $6 | +37% | $3.1B | $5B | 2.4x | 6.1x | ||
| REN-Redes Energeticas Nacionais Sgps SA is an energy and utility company that operates as the primary concession holder for electricity transmission and natural gas transportation in Portugal. It manages the national high-voltage electricity grid, high-pressure natural gas pipelines, LNG terminal, and underground storage, focusing on energy transition, sustainability, and security of supply. The Group presently has two main business segments, Electricity and Gas, and a secondary business of Telecommunications. | $4 | +7% | $2.7B | $5.3B | 4.6x | 9.0x | ||
| 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. | $3 | -1% | $2.5B | $3.4B | 1.5x | 8.0x | ||
| Semapa SA Group operates in distinct business areas, namely, pulp and paper and other businesses developed. The company has four reportable segments Pulp and paper includes production and sale of writing and printing thin paper and domestic consumption paper (Tissue), and it is present in the entire value-added chain, from research and development of forestry and agricultural production to the purchase and sale of wood and the production; Cement includes sale of ready-mixed concrete, aggregates, mortars and precast concrete; Other businesses includes the group's smaller activities; Holdings refers to the management activities of the Semapa group. The majority of revenue comes from Pulp and paper. The company has presence in Portugal, Rest of Europe, America, Africa, Asia, and Oceania. | $22 | +4% | $1.7B | $2.3B | 1.0x | 5.5x | ||
| Mota-Engil is a Portuguese engineering and infrastructure group founded in 1952 and headquartered in the Porto metropolitan area. It designs, builds, operates, and maintains roads, railways, ports, bridges, water systems, buildings, and other public and private infrastructure. The group also runs environmental services, waste and water activities, transport concessions, facility management, mobility projects, and selected logistics and energy-related businesses across Europe, Africa, and Latin America. Governments and companies hire Mota-Engil through construction contracts, long-term concessions, maintenance agreements, and service arrangements. The company is publicly listed in Lisbon and earns project, concession, and recurring service revenue. Its capital division also manages strategic holdings and helped establish the ME3I industrial-investment joint venture in 2011. | $5 | -25% | $1.6B | $5.1B | 0.9x | 4.9x | ||
| 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. | $8 | -10% | $1B | $1.2B | 1.2x | 7.3x | ||
| 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. | $5 | -14% | $1B | $1.6B | 2.1x | 15.8x | ||
| Sonaecom SA is engaged in technology, media and telecommunications . The business portfolio includes the Software and Technology area, with Bright Pixel Capital the Online & Media area where there are businesses such as the Publico daily, generalist newspaper. Its segments include NOS, Media segment derives revenue from Advertising revenues: essentially include the solicitation of advertising for Jornal Publico; and Technologies segment which derives revenue from Maintenance services revenue associated with the maintenance of IT services provided or sold, Consulting services revenue from services provided in consulting projects, and Software as a Service revenue from the implementation of Software as a Service (SaaS) contracts. Geographically, it derives majority revenue from Portugal. | $3 | -5% | $996M | $735M | 38.3x | 583.2x | ||
| CTT-Correios de Portugal SA operates in the postal and logistics sector, with operations organised into the segments Mail & Services, Express & Parcels, E-commerce Solutions, and Financial Services. The Mail & Services area comprises Mail, Business Solutions, and Financial and Retail Services. Mail is the main business, Business Solutions uses digitalisation to strengthen customer relationships, and Financial and Retail Services are supported by the retail network. Products and services include mail delivery, express and shipping solutions such as Basic Mail, Track Mail, and Express for Tomorrow, digital platforms, document management, business process services, payments, financial intermediation, insurance, and retail services. It operates in Portugal, Spain and the rest of the world. | $6 | -28% | $824M | - | - | - | ||
| 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. | $11 | -4% | $449M | $905M | 1.5x | 6.1x | ||
| 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 | +26% | $314M | $378M | ||||
| Novabase SGPS is engaged in holding and managing financial holdings in other companies. The Group operates through two business areas: Next-Gen (NG), which generates maximum revenue and operates under the Celfocus commercial brand, providing IT consulting and services focused on the Financial Services and Telecommunications industries across Europe and the Middle East; and Value Portfolio (VP), which develops venture capital activities. The Next-Gen and IT Service segment focuses on Design & UX, insights through data, native & scalable cloud, digital architecture, exposure to APIs, AI/Analytics, automation of tests & engineering, continuous delivery, and intelligent operations. The Group operates in Portugal, Europe, the Middle East, and Africa. | $8 | -22% | $293M | $285M | ||||
| 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% | $253M | $353M | ||||
| 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 | -4% | $225M | $476M | ||||
| 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. | $1 | -37% | $212M | $793M | ||||
| 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 | +1% | $205M | $291M | ||||
| 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. | $7 | -15% | $188M | $187M | ||||
| 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 | -7% | $182M | $227M | ||||
| S.L. Benfica is the listed football company of Sport Lisboa e Benfica, the Lisbon club founded on 28 February 1904, and runs its professional men's team in Portugal's Primeira Liga. Sport Lisboa e Benfica – Futebol, SAD was created on 10 February 2000 to handle the team's competitions, player development, television and image rights and use of the Benfica brand, and its shares entered the PSI-20 index in May 2007. The club controls the SAD, holding 63.65% of its capital directly and through Benfica SGPS as of September 2021, and in May 2025 US-based Lenore Sports Partners bought a 5.24% minority stake. Home matches are played at the Estádio da Luz, opened in 2003. Revenue comes from broadcasting rights, sponsorship, ticketing, merchandise and player transfers: the SAD reported revenue of €206.2 million and profit of €20.6 million in September 2018, a 2015 agreement sold its home-match TV rights and Benfica TV distribution to NOS for €40 million a season, and it earned €617 million from player sales between 2010-11 and June 2017. Benfica has won a record 38 Primeira Liga titles and 26 Taças de Portugal plus the European Cup in 1961 and 1962, and it reached 400,000 club members in February 2025. | $8 | +2% | $173M | $380M | ||||
| Samba Digital SGPS SA is an international sports and entertainment marketing agency. The company specializes in sports brands digital internationalization. | $17 | -1% | $166M | $166M | ||||
| 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 | -31% | $118M | $153M | ||||
| 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 | +15% | $113M | $338M | ||||
| 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 | +8% | $82M | $66M | ||||
| Futebol Clube do Porto - Futebol, SAD (FC Porto SAD) is the Portuguese public company that owns and runs the professional football team of FC Porto, based in Porto. It was incorporated on 30 July 1997 and has been listed on Euronext Lisbon since 1 June 1998, with the members' club Futebol Clube do Porto, founded in 1893, as its controlling shareholder; it employs about 626 people. The team plays in the Primeira Liga at the 50,033-seat Estádio do Dragão, opened in 2003, and FC Porto is Portugal's most successful club with 88 major trophies, including 31 league titles, two European Cup/Champions League wins (1987 and 2004) and two UEFA Cup/Europa League wins (2003 and 2011); it won the 2025-26 Primeira Liga. The company earns from broadcasting rights, player transfers, sponsorship, ticketing and UEFA competition prize money. André Villas-Boas became club president in 2024. In 2024 the SAD sold 30% of the economic rights to the Estádio do Dragão's commercial revenues for 25 years to Spanish investor Ithaka Investments Europe for EUR 65 million, and its auditor has raised going-concern doubts. | $3 | -37% | $63M | $417M | ||||
| 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 | -32% | $36M | $182M | ||||
| 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 | -35% | $36M | - | ||||
| S.C. Braga is the listed professional football company of Sporting Clube de Braga, a Portuguese sports club from the northern city of Braga, and runs the men's first team in the Primeira Liga. The club was founded on 19 January 1921 and since 2003 has played at the 30,286-capacity Estádio Municipal de Braga, with its former Estádio 1º de Maio now used by the reserve team. Sporting Clube de Braga – Futebol, SAD is listed on Euronext Lisbon; in 2023 the parent club held 36.99% of its shares, Qatar Sports Investments 29.60% and Sundown Investments Limited 17.04%, and António Salvador is president. The company earns money from broadcasting rights, sponsorship, ticketing, merchandising and the sale of player registrations, and reported net profit of €20.4 million and EBITDA of €29.8 million in 2023. Braga won the last UEFA Intertoto Cup in 2008, reached the 2011 UEFA Europa League final and first played in the Champions League in 2010-11. Domestically it has won three Taça de Portugal titles (1965-66, 2015-16, 2020-21) and three Taça da Liga titles (2012-13, 2019-20, 2023-24), and it has a reputation for developing young players through its academy. | $21 | +17% | $26M | $48M | ||||
| 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. | $14 | -8% | $25M | $88M | ||||
| 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% | $21M | $21M | ||||
| 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. | $2 | +41% | $19M | $98M | ||||
| 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 | +109% | $9M | - | ||||
| Median | $5 | -2% | $239M | $417M | 1.6x | 7.4x |
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