A
cross the Gulf, most markets have risen on solid earnings and a dovish U.S. monetary stance, while Saudi’s benchmark slipped slightly. In this volatile backdrop, the best small‑caps are those with strong fundamentals and growth potential that can weather market swings.
| Company | Debt/Equity | Revenue Growth | Earnings Growth | Health |
|---------|-------------|----------------|-----------------|--------|
| Al Wathba National Insurance | 10.97% | 10.37% | 3.14% | ★★★★★★ |
| Baazeem Trading | 8.48% | –1.74% | –2.37% | ★★★★★★ |
| Qassim Cement | 0.78% | –14.90% | ★★★★★★ |
| MOBI Industry | 18.09% | 6.66% | 22.02% | ★★★★★★ |
| Sure Global Tech | 10.11% | 15.42% | ★★★★★★ |
| Nofoth Food Products | 15.49% | 26.47% | ★★★★★★ |
| Saudi Azm for Communication | 19.37% | 17.10% | 23.35% | ★★★★★★ |
| Najran Cement | 14.76% | –3.67% | –26.79% | ★★★★★★ |
| National General Insurance | 14.58% | 25.09% | ★★★★★☆ |
| Etihad Atheeb Telecommunication | 0.97% | 37.69% | 60.25% | ★★★★★☆ |
Full list of 211 undiscovered Middle Eastern gems is available here.
**Saudi Real Estate Company** – Market cap SAR 5.39 bn. The firm, through subsidiaries, sells properties (SAR 979 m), runs infrastructure projects (SAR 891 m), and earns rentals (SAR 352 m). Minor segment adjustments slightly lower total revenue. Debt‑to‑equity fell from 128.8 % to 52.6 % over five years, signalling stronger balance sheets. Earnings jumped 250 %, outpacing the sector’s 33 % rise. A SAR 425 m contract for Fai Sedra 2 in Riyadh underscores its large‑scale activity. Q2 net income hit SAR 94 m, turning a prior loss. Net debt‑to‑equity stands at 28 %. For a deeper health assessment, read our report here; past performance insights are in the Past report.
