Forbes Middle East has recently released its annual ranking of the 100 most powerful public companies for the year 2024, highlighting the region’s strongest companies in terms of size, market value, and profitability. The classification revealed a decline in sales of the top 100 companies by 5.1% from $1.1 trillion in 2022 to $1 trillion in 2023. Total net profits also decreased by 13.5% to $240.2 billion, and total market values dropped by 4.4% to $3.6 trillion until April 2024. However, the total value of assets of these companies saw an increase of 5.4% to $4.9 trillion in 2023.
To compile the ranking, Forbes collected data from the financial statements and markets in the region, classifying companies based on sales, assets, profits, and market values for fiscal year 2023 as of April 26, 2024. Companies with equal points received the same ranking, while those that did not disclose audited financial statements for 2023 by April 26,
