May 2026
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Largest Public Companies in Qatar
Benchmark revenue and EBITDA valuation multiples for public comps like
Qatar National Bank, Industries Qatar, Qatar Islamic Bank, Ooredoo Qatar and Nakilat.
 | Qatar National Bank SAQ along with its subsidiaries provides conventional and Islamic banking services. The company's operating segment includes Corporate Banking; Consumer Banking; Asset and Wealth Management and International Banking. It generates maximum revenue from the Corporate Banking segment. The corporate banking segment includes loans, deposits, investment and advisory services and other products and services with corporate customers and undertaking the Group's funding and centralized risk management activities through borrowings, issue of debt securities, use of derivatives for risk management purposes, and investing in liquid assets such as short-term placements and corporate and government debt securities. | $5 | +2% | $43B | $73B | 6.0x | — | ||
| Industries Qatar QSC, along with its subsidiaries, operates in the following reportable segments: Petrochemicals, Fertilisers, and Steel. Maximum revenue is generated from the Fertilisers segment, which produces and sells urea, ammonia, and other by-products. The Petrochemicals segment produces and sells ethylene, polyethylene, MTBE, methanol, and other petrochemical products; and the Steel segment produces and sells steel pellets, bars, billets, and others. | $3 | +3% | $20B | $18B | 4.1x | 10.6x | ||
| Qatar Islamic Bank QPSC and its subsidiaries provide banking products and services through Corporate Banking, Personal Banking, Group Function, and local and international subsidiaries, with Corporate Banking generating the maximum revenue. Corporate Banking includes services for institutional investors, corporates, small and medium enterprises, financial institutions, and investment vehicles, while Personal Banking offers services to individual customers through local branches, including checking and savings accounts, credit cards, personal lines of credit, and mortgages. Group Function comprises treasury, investment, finance, and other central functions. Geographically, the bank operates in Qatar, other GCC countries, Europe, North America, and other countries. | $6 | +3% | $14B | $18B | 10.0x | — | ||
| Ooredoo QSC is a Middle Eastern telecommunications company. | $4 | +7% | $12B | $13B | 1.9x | 4.2x | ||
| Qatar Gas Transport Co Ltd (Nakilat) QSC is a shipping company. The main purpose of the Company is to work in the industry of gas transport either through direct acquisition of ocean-going vessels or by investing in joint ventures with other parties. In addition to its core shipping activities, the company operates the Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City, providing comprehensive ship repair and offshore fabrication services via strategic joint ventures: Qatar Shipyard Technology Solutions and Qatar Fabrication Company (QFAB). | $1 | -10% | $7B | $12B | 10.5x | 12.0x | ||
| Ezdan Holding Group QSC is a real estate development company. The principal activity of the company is the management and rentals of real estate properties. The company operates in four operating segments namely, the Residential and commercial properties segment, which is the key revenue driver, and includes developing, owning, and renting of real estate properties; the Hotel and suites segment includes managing hotels, suites, and restaurants; and Malls segment includes management of shopping malls. Geographically, the company operates in Qatar and the United Kingdom. | $0 | -20% | $6B | $9B | 18.8x | 140.2x | ||
| AlRayan Bank is engaged in Islamic banking, financing, investing, and brokerage activities. The services provided by the company include Retail banking, Corporate banking, Private banking, Investments, Credit cards, Debit cards, and other financial products. | $1 | -5% | $5B | $9B | 9.4x | — | ||
| Estithmar Holding Company QPSC is a dynamic group of companies offering reliable, sustainable and quality services to companies across a diverse range of sectors from healthcare to services, ventures, contracting and industries. | $1 | +21% | $5B | $7B | 3.8x | 17.8x | ||
| Dukhan Bank QPSC is a Sharia-compliant bank engaged in financing, investing, and advisory activities. The Company operates through Wholesale Banking, Retail and Private Banking, Treasury and Investments Division, and Subsidiaries, with Wholesale Banking generating the majority of revenue from financing, deposits, and related transactions. Retail and Private Banking includes financing, deposits, and part asset management activities, while the Treasury and Investments Division manages funding, risk management, investments in liquid assets, and trading and corporate finance activities. The Company operates mainly in Qatar, and also in other GCC countries, Europe, North America, and others, with maximum revenue generated from Qatar. | $1 | -4% | $5B | $6B | 7.4x | — | ||
| The Commercial Bank (Q.S.C.) is engaged in conventional banking, brokerage services and the credit card business and operates through its head office, branches and subsidiaries. It provides wholesale and retail banking services across the Middle East. The company operates across four main business segments: 1. Wholesale Banking, 2. Retail Banking, 3. International, 4. Unallocated, Intra - group transactions and others. The company derives the majority of its revenue from the Wholesale Banking, which provides funded and non-funded credit facilities, deposit services, currency exchange, derivative trading, loan syndication, and structured financing to corporate and multinational clients. It also manages money market funds and a proprietary investment portfolio. | $1 | -8% | $5B | $16B | 12.3x | — | ||
| Qatar International Islamic Bank QSC is engaged in banking, financing, and investing activities. It operates in three segments. The Corporate Banking segment, which is the key revenue driver, includes financing, deposits and other transactions and balances with corporate customers, government and semi-government institutions, and SME customers. The Personal Banking segment includes financing, deposits, and other transactions and balances with retail customers. The Treasury and Investments segment undertake the group's funding and centralized risk management activities through borrowings, issue of Sukuk, use of risk management instruments for risk management purposes, and investing in liquid assets such as short-term deposits and corporate and government Sukuk. | $3 | +5% | $5B | $6B | 9.9x | — | ||
| Nebras Energy is a Qatar-based company that invests in, develops, owns, and operates plants to produce electricity and desalinated water, including the renewable assets, inside and outside Qatar, and to supply them to the state-owned entities and private corporate customers. The group's operating segments are: Operations in Qatar and Operations outside Qatar. Maximum revenue is generated from its operations in Qatar. | $4 | -7% | $4B | $6B | 6.8x | 9.6x | ||
| Mesaieed Petrochemical Holding Company QSC is engaged in the petrochemical sector. It is involved in the production and sale of products such as polyethylene, 1-hexene, normal alpha olefins, other ethylene derivatives, caustic soda, ethylene dichloride, vinyl chloride monomer and other petrochemical products. Geographically, all the operations function through Qatar. | $0 | -17% | $4B | $4B | 26.2x | — | ||
| Qatar Fuel QSC is engaged in the sale, marketing, and distribution of oil, gas, and refined petroleum products, vehicle inspection services, marine bunkering, transportation of oil and gas, and other related services. Some of the firm's products are lubricants, gas, and bitumen, among others. The company generates the majority of its revenue from the sale and distribution of refined petroleum products. Geographically, it operates in the state of Qatar, which is the key revenue-generating market. | $4 | -6% | $4B | $4B | 0.5x | 9.8x | ||
| Qatar Navigation QSC company provides diversified maritime and logistics companies in the Middle East with a focus on providing integrated transport and supply chain solutions. Milaha's current activities include Maritime and Logistics; Gas and Petrochem; Offshore Marine; Marine and Technical Services; and Capital. The Segment includes Milaha Capital, Milaha Maritime and Logistics, Milaha Offshore, Milaha Tradings, Milaha Gas and Petrochem, Milaha Corporate. Maximum of revenue is from Milaha Gas and Petrochem segment. Geographically operates in Qatar, Singapore, UAE, Germany, India, with maximum revenue from Qatar. | $3 | -6% | $3B | $3B | 2.9x | 5.2x | ||
| Vodafone Qatar QSC provides cellular mobile telecommunication services, fixed-line services, and sells mobile-related equipment and accessories. It operates in two segments: Consumer and Enterprise and others. Its services include messaging, interconnect, data broadband services, connection fees, and equipment sales. The company offers a comprehensive range of services that include voice, messaging, data, fixed communications, Internet of Things and ICT managed services, for consumers and businesses alike. | $1 | +15% | $3B | $3B | 3.5x | 7.8x | ||
| Ahli Bank QSC provides corporate and retail banking services to individual, corporate, and institutional customers in Qatar. The Bank provides its products and services through two of its business segments: Retail and Private Banking and Wealth Management, which includes customer deposits, residential mortgages, etc and wealth management services to high net worth individuals, and the other segment is Corporate banking, treasury, investments, and brokerage, which includes loans and credit facilities, deposits for corporate and institutional customers and other money market and trading services. The majority of the revenue is earned from the corporate banking segment. Its operates in Qatar, Other QCC, Europe and Other Countries out of which Qatar has maximum revenue. | $1 | +4% | $3B | $4B | 9.4x | — | ||
| Qatar Aluminum Manufacturing Co is engaged in establishing, managing, own and/or hold shares, assets and interests in companies, engaged in all manner of processing and/or manufacturing of metal products including aluminum, practicing and implementing various aspects and stages of activities related to minerals and mining, including the development of supply chains and products inside or outside the State of Qatar. | $0 | +27% | $3B | $2B | — | (1239.5x) | ||
| Barwa Real Estate Co is mainly engaged in the real estate business. It is involved in investing in diverse real estate assets, encompassing the acquisition, development, subdivision, and resale of land, as well as the development and leasing of agricultural, industrial, and commercial projects. The group also buys, sells, and leases buildings and projects, and manages real estate investments both within Qatar and internationally. In addition, it focuses on developing real estate projects, hotel ownership and management, investment activities, project consultancy, and other related services. The group has three reportable segments: Real estate, which derives key revenue, Business services, and Other services. Geographically, it generates maximum revenue from Qatar. | $1 | -21% | $3B | $6B | 10.8x | 10.4x | ||
| Doha Bank QPSC is engaged in conventional banking activities. The company provides its services to individuals, commercial, corporate, and institutional clients across Qatar and internationally. Its segments include Conventional Banking and Insurance Activities. Conventional banking includes Corporate banking, Retail Banking, and Unallocated assets, liabilities, and revenue. Whereas Insurance Activities include various types of Insurances. The company derives maximum revenue from the Conventional Banking segment. Geographically, it derives a majority of its revenue from Qatar, and also operates in the Middle East, other GCC countries, and the rest of the world. | $1 | +2% | $2B | $9B | 11.8x | — | ||
| Qatar Insurance Company SAQ is engaged in the business of insurance, reinsurance, real estate asset management and information technology-related services. The Group is organised into six business segments, namely, Marine and Aviation Insurance, Property and Casualty Insurance, Health and Life insurance, Real Estate, Advisory, and Investments. The majority of its revenue is derived from the Property and Casualty Insurance segment. The Company operates in Qatar and Other International Countries. | $1 | +12% | $2B | $1B | 0.5x | — | ||
| Aamal Co QSC provides services to diversified industry sectors. Its operating segments include property, trading and distribution, industrial manufacturing and managed services. The company generates maximum revenue from the trading and distribution segment. It's trading and distribution segment represents a wholesale and retail distribution of pharmaceutical and consumable items, home appliances, medical equipment, tyres and lubricants and industrial printing. | $0 | -13% | $1B | $2B | 2.7x | 10.3x | ||
| Zad Holding Co is engaged in the import of wheat, the production of different kinds of flour, manufacturing, and marketing of pasta and bakery products. The company earns income from sales of certain types of grain and related commodities. The company is also engaged in the activities of contracting for building, investing, establishing and managing industrial projects, activities in real estate, selling and renting heavy equipment, manufacturing and supplying ready-mix concrete and asphalt, crushing services, providing transport services, and investment in financial instruments. The segments of the company are Investment & managed services, Trading, manufacturing, distribution & services, Contracting, real estate & others. | $4 | -- | $1B | $1B | 3.1x | 13.2x | ||
| Gulf International Services QSC is a Qatar-based holding company. The group has three segments. The insurance segment provides insurance and reinsurance services. The aviation segment provides helicopter transportation services throughout the Gulf region, Libya, Turkey Morocco. The aviation segment includes the information relating to Gulf Helicopters Company and its subsidiaries and joint ventures. The drilling segment provides drilling and ancillary services. Maximum of revenue is from Drilling Segment. Geographically operates in Qatar, Turkiye, and Others, maximum from Qatar. | $1 | -36% | $1B | $2B | 1.8x | 5.3x | ||
| United Development Co QPSC develops real estate for sale or rental in Qatar. It operates in six segments: Urban Development includes real estate development and construction activities; Hospitality & Leisure includes investment and development of hotels, leisure facilities, and the sale of luxurious items; Infrastructure & Utilities includes construction and management of district cooling systems and marina activities; Educational services includes providing educational services; Healthcare includes providing healthcare services; and Other operations include providing information technology solutions and other services. The majority of its revenue comes from the Urban Development segment. | $0 | -- | $817M | $2B | 3.6x | 9.5x | ||
| Baladna QPSC is an agricultural company based in Qatar, engaged in the production and sale of dairy products. The products offered by the company include fresh milk, long life milk, yogurt, chilled juice, cheese, labneh, cream, and other products under the Awafi and Baladna brands. | $0 | -- | $778M | $1B | 4.1x | 6.8x | ||
| Almeera Consumer Goods Company Q.S.C is a Qatar-based company operating in the retail industry. The company and its subsidiaries are involved in wholesale and retail trading of consumer goods commodities, owning and managing consumer outlets, and trading in foodstuff and consumer goods. The three operating segments of the company include the Retail segment is a key revenue driver, that comprises the buying and selling of consumer goods, the Investment segment, which comprises equity and funds held as available-for-sale investments and fixed deposits and the Leasing segment, which comprise mainly of renting shops in various malls owned by the group. The company operates in Qatar and Oman. | $4 | -- | $751M | $899M | 1.1x | 10.7x | ||
| Mannai Corp QSC together with its subsidiaries, operates as a conglomerate. Its segments include Information Technology and Networking, which provides IT infrastructure solutions; Auto Group, which generates revenue from the sale of passenger and commercial vehicles, heavy equipment, and maintenance services; and Other Segments, including energy and industrial markets, geotechnical services, logistics, travel, engineering, and the supply of home appliances, electronics, mobile telecom handsets, accessories, and telecom services. The company operates in Qatar, Other GCC countries, and Others, with the majority of revenue coming from Qatar. | $1 | -- | $679M | $1B | 0.9x | 8.8x | ||
| Lesha Bank LLC is a shariah-compliant Bank. Its offerings include Private Wealth Management, Fixed Income Money Market, Investment Banking Advisory, Private Equity & Corporate Banking, Real Estate Investments and Aviation Capital. The company's reportable segments are: Alternative Investments, Asset Management, Treasury, Investment Banking Advisory and Unallocated. The majority of the company's revenue is derived from the Alternative Investments segment, which focuses on originating, structuring, and managing investments across the aviation, private equity, and real estate sectors. | $1 | -- | $615M | $2B | 15.8x | — | ||
| Meeza QSTP LLCis an established end-to-end Managed IT Services and Solutions provider based in Qatar that aims to accelerate the growth of the country and the region through the provision of world-class services and solutions. Company's offerings include Managed IT Services, Data Centre Services, Cloud Services, and IT Security Services, in addition to expertise in Smart Cities Solutions and Artificial Intelligence. | $1 | +13% | $606M | $677M | 6.1x | 18.8x | ||
| Gulf Warehousing Co is a logistics company based in Qatar. Its activities include warehousing, inland goods transportation, international moving and relocation, freight forwarding, express courier, and records management. The company's operating segment includes logistics operations, which accounts for the majority of revenue; freight forwarding; Investment properties; and others. Geographically, it derives the majority of its revenue from the domestic market. | $1 | -24% | $355M | $858M | 2.3x | 6.9x | ||
| Median | $1 | -4% | $3B | $4B | 5.1x | 9.7x |
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