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: https://t.co/SzaWpTHR5J
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: https://t.co/GBUVxYtRPE
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 https://t.co/jF70DtsVQw.
Dr. Sulaiman Al Habib Medical Services Group 2025 recap:
Revenue: SAR 13.7B (+22% YoY)
Gross profit: SAR 4.19B (+12% YoY)
Net profit: SAR 2.40B (+4% YoY)
Quick insights:
Profit growth lagged revenue growth
Margins down after 2023 peak
Net margin ↓ ~17.5% (2018 levels)
📊👇
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: https://t.co/CzG9Yuca0A
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