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Joined February 2026
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Saudi Chemical (Tadawul: 2230) has started commercial TNT production.
• Positive impact expected from Q4 2026
• Five-year NCMS contract ceiling: SAR 742m
• Revenue depends on purchase orders
Only three Saudi-listed companies with market capitalizations above $10 billion grew revenue by more than 20% in 2025.
Elm led the group with 27.8% YoY revenue growth, followed by Al Rajhi Bank and Sulaiman Al Habib.
Track on: premargin.com/en/screener/st…
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There are nine Saudi companies with a market cap of over $20 billion. Including Aramco.
Seven of these are owned/controlled by the state, mainly through PIF.
The two that are not owned by the government are Al Rajhi Bank and Sulaiman Al Habib Medical Group.
Al Rajhi first hit $20 billion market cap in early 2010s. About 25 years after its IPO.
Sulaiman Al Habib went public at about $5 billion in 2020 and reached $20 billion market cap in just two years.
At its peak, the company was valued at $26.5 billion.
It is probably one of the least discussed large-scale private sector success stories to come out of Saudi Arabia.
PS. You can use Premargin's stock screener to track this list in real time and screen listed companies across GCC markets by market cap, revenue, profitability, valuation multiples, and other financial metrics.
Saudi Arabia’s largest listed companies excluding Aramco.
Banks dominate the top of the market, while mining, telecom, utilities, petrochemicals, and healthcare round out the list.
This ranking can be tracked live on Premargin’s stock screener: premargin.com/en/screener/st…
Saudi Arabia’s largest listed companies excluding Aramco.
Banks dominate the top of the market, while mining, telecom, utilities, petrochemicals, and healthcare round out the list.
This ranking can be tracked live on Premargin’s stock screener: premargin.com/en/screener/st…
Electrical Industries Co. Q1 2026:
- Net profit: SAR 190.8M ↑54.6% YoY
- Revenue: SAR 661.4M ↑30.5% YoY
- Operating profit: SAR 202.7M ↑47% YoY
- Gross profit: SAR 249.9M ↑34.6% YoY
Margins expanded on higher-margin products + operating leverage.
TECOM Group Q1 2026:
- Revenue: AED 755M ↑11% YoY
- EBITDA: AED 610M ↑13% YoY (81% margin)
- Recurring net profit: AED 403M ↑12% YoY
- Occupancy: 98% ↑3pp YoY
Driven by higher occupancy, improved rental rates, and portfolio expansion.
More on Premargin.com.
Dubai Islamic Bank Q1 2026:
• Net profit: AED 1.80B (flat YoY)
• Total income: AED 6.30B ↑14% YoY
• Impairments: AED 420M ↑ sharply YoY
• Assets: AED 419.9B
• Deposits: AED 322.0B
• CAR: 15.8% | Tier 1: 15.0%
Read full disclosure here: premargin.com/en/disclosures…
Azm Q1 2026 (CY):
• Net profit ↑36.7% YoY to SAR 10.95M
• Revenue ↑17.5% YoY to SAR 75.78M
• Gross profit ↑15.7% YoY
• Operating profit ↑37.2% YoY
Driven by new projects + existing contracts.
9M FY26:
• Net profit ↑36.8% YoY to SAR 34.74M
Leejam (Fitness Time) Q1 2026:
Net profit: SAR 49M (↓31% YoY)
Revenue: SAR 369M (flat)
Margins hit by higher finance costs (+26%), expansion-driven costs, and Ramadan/Eid timing.
Centers: 246 (+8 QoQ)
Members: 432K (↓3%)
Full disclosure on Premargin.com.
Not the full picture, but interesting.
Sorted by lowest P/E, Tadawul mid-caps ($1B–$10B):
~6.5x earnings, below book
Banks <1x P/B
ROE from ~8% to 35%
Explore full screen: premargin.com/en/screener/st…
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