May 2026
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Largest Utilities Public Companies in Saudi Arabia
Benchmark revenue and EBITDA valuation multiples for public comps like
ACWA Power, Riyadh Cables, Marafiq, Alkhorayef Water & Power and Miahona.
 | ACWA Power Co is engaged in developing, investing, operating, and maintaining power generation, water desalination, and green hydrogen production plants, and bulk sale of electricity. The company's segments include Thermal and Water Desalination, Renewables, and Others. It generates maximum revenue from the Thermal and Water Desalination segment. Geographically, the company generates maximum revenue from Saudi Arabia, followed by other markets in the Middle East and Africa. | $49 | -27% | $38B | $44B | 21.9x | 35.4x | ||
| Riyadh Cables Group Co manufactures and supplies all types of wire and cables at its state-of-art facilities. The company’s products include Wires, Low Voltage Cables (LV), Medium Voltage Cables (MV), High & Extra High Voltage Cables (HV/EHV), Overhead Lines Conductors Cables (OHL), Instrumentation & Control Cables, Renewable Energy Cables, and Fiber Optic & Telephone Cables. The company operates in three segments: Cable & Wires segment includes Electrical cables, the High voltage cables segment includes Turnkey projects, and the Other segments include Telephone cables & services. The majority of revenue is generated from Cable & Wires segment. | $32 | -16% | $5B | $5B | 2.0x | 17.2x | ||
| Power and Water Utility Company for Jubail and Yanbu engages in providing integrated utility services to all sectors in the Industrial Cities of the Kingdom of Saudi Arabia. The company's principal activities are water supply, sewage activities, waste management and treatment, electricity, gas, steam and air conditioning supply, process industry, and construction. The company's operating segment includes Power, Water, Gas, and Independent Water and Power. The majority of revenue is generated from the Water segment which includes desalinated and treated water systems, potable, process, and industrial water production, distribution, seawater cooling systems for heavy industries, and industrial and sanitary wastewater treatment and disposal. | $11 | -7% | $3B | $6B | 3.1x | 8.4x | ||
| Alkhorayef Water & Power Technologies is engaged in contracting for buildings, roads, industrial, mechanical, marine and electrical works, cleaning of buildings and cities, operation and maintenance of medical centers, hospitals, airports, and waste disposal, and environmental pollution control. Its business consists of three business divisions: Water segment, Wastewater segment, and the Integrated water solutions segment. The company derives maximum revenue from the Integrated Water Solutions segment. The company provides services including water withdrawal and treatment, water networks, wastewater networks, wastewater treatment, city management, stormwater network and lifting stations, and water management services. | $33 | -14% | $1B | $1B | 2.1x | 12.9x | ||
| Miahona Co is a Company engaged in the transportation and distribution of water. Its activities involve operations of sewage treatment networks and facilities, General construction of non-residential buildings such as schools, hospitals, and hotels, water distribution stations and main lines, sewage plants and projects, sewage networks, and pumps. | $4 | -37% | $686M | $834M | 4.4x | 17.3x | ||
| Median | $32 | -16% | $3B | $5B | 3.1x | 17.2x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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