16 companies from Qatar made it to the list of Forbes' Top 100 Listed Companies 2023. In 2023, the aggregate market value of the Middle East’s Top 100 Listed Companies decreased marginally by 5%, from $4 trillion in 2022 to $3.8 trillion.
Forbes Middle East mentioned that the value of the aggregate sales for these 100 companies has jumped 38.5% to $1.1 trillion, with profits increasing by 37.7% to hit $277.7 billion. The value of their aggregate assets has also risen by 9.5% to $4.6 trillion as of 2022 end.
From the GCC, Saudi Arabia has 33 entries, followed by the U.A.E. with 28, Qatar with 16, and Kuwait with 9. The 2023 list has several newly-listed entities, including Qatar’s Dukhan Bank, U.A.E.-based Multiply Group, and Americana Restaurants, along with Saudi Aramco Base Oil Company (Luberef) and Marafiq.
|Industries Qatar (IQ)||23|
|Qatar Islamic Bank (QIB)||27|
|Masraf Al Rayan||44|
|Qatar Fuel (WOQOD)||65|
|Qatar Electricity & Water Company (QEWC)||74|
|Qatar International Islamic Bank (QIIB)||75|
|Barwa Real Estate Group||85|
|Mesaieed Petrochemical Holding Company (MPHC)||98|
|Qatar Navigation (Milaha)||99|
As per Forbes Middle East, they collected the data from listed stock exchanges in the Arab world and ranked companies based on their reported sales, assets, and profits for 2022 and market value as of 30 April 2023. Each metric was given equal weight, and companies with the same final scores were given the same rank.
Forbes Middle East also excluded companies that hadn’t disclosed their 2022 full-year audited financial statements as of 25 April 2023. Currency exchange rates were taken as of 30 April 2023.
Source: Forbes Middle East
Cover image credit: Shutterstock
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