EE EN
twitter

TOP 101 - 2025
Estonia's most valuable enterprises
Discover your company’s value

TOP 101 - 2025
Filters
Industries
Latvia's TOP 101 Latvia's TOP 101 most valuable enterprises - TOP101

Select filters:

Newcomer
Returnees
Listed
Owner
Sector
TOP 2025 TOP 2024 Company name Value 2025 Value 2024 Change Turnover 2024 EBITDA 2024 CorpGov Score   Industry
45 54 BREAKWATER TECHNOLOGY, OÜ 195.00 162.00 20% 31.0 17.0 10 IT ja telekommunikatsiooniteenused
56 61 ADOLE INVEST, AS (K) 153.00 142.00 8% 421.0 27.0 10 Trade: consumer goods
57 40 CAPFIELD, OÜ (K) 153.00 200.00 -23% 21.0 12.0 10 Real estate operations
68 - ALARMO KAPITAL, OÜ (K) 135.00 - - 450.0 89.0 10 ee Financial services
81 76 ESRAVEN, AS (K) 115.00 115.00 -1% 31.0 12.0 10 ee Real estate operations
30 - STILTSOFT EUROPE, OÜ 261.00 - - 25.0 23.0 11 ee IT ja telekommunikatsiooniteenused
65 33 MULTIMODALHD EESTI, OÜ 141.00 219.00 -36% 346.0 11.0 12 Trade: energy carriers
99 - MBR METALS, OÜ 90.00 - - 393.0 14.0 12 ee Trade: industrial goods
47 42 SKINEST GRUPP, AS (K) 187.00 197.00 -5% 91.0 22.0 13 ee Trade: industrial goods
84 - OB HOLDING 1, OÜ 114.00 - - 46.0 14.0 13 Consumer services
93 85 KAARSILLA KINNISVARA, OÜ 102.00 100.00 2% 13.0 8.0 14 ee Real estate operations
62 57 EKE, AS (K) 145.00 152.00 -5% 21.0 11.0 15 ee Real estate operations
94 81 TOGGL, OÜ (K) 100.00 107.00 -6% 17.0 7.0 15 ee IT ja telekommunikatsiooniteenused
22 21 KAPITEL, AS (K) 378.00 383.00 -1% 73.0 41.0 16 ee Real estate operations
35 41 TIIGI KESKUS, AS (K) 231.00 198.00 17% 301.0 37.0 16 ee Manufacturing: consumer goods
17 20 BLRT GRUPP, AS (K) 518.00 383.00 35% 440.0 66.0 18 ee Manufacturing: industrial goods
19 15 BALTIC MARITIME LOGISTICS GROUP, AS (K) 474.00 570.00 -17% 362.0 100.0 18 ee Transport, transit, logistics
61 - ITM TRADE, OÜ (K) 148.00 - - 26.0 15.0 18 ee IT ja telekommunikatsiooniteenused
90 - B2G GRUPP, OÜ (K) 104.00 - % 55.0 12.0 18 ee Trade: energy carriers
91 74 AQUAPHOR INTERNATIONAL, OÜ (K) 102.00 117.00 -13% 104.0 13.0 18 ee Manufacturing: industrial goods
95 - UPM-KYMMENE OTEPÄÄ, OÜ 98.00 - % 77.0 18.0 18 Manufacturing: industrial goods
75 65 ESTIKO GRUPP, AS (K) 125.00 136.00 -8% 57.0 12.0 19 ee Real estate operations
67 - AKTIVA FINANTS, OÜ (K) 135.00 - - 39.0 17.0 20 ee Consumer services
72 71 HELMES, AS (K) 127.00 124.00 2% 108.0 14.0 20 ee IT ja telekommunikatsiooniteenused
58 34 SYNLAB EESTI, OÜ 152.00 218.00 -30% 42.0 13.0 21 Consumer services
71 - PANAMIR, OÜ 128.00 - - 170.0 17.0 21 ee Trade: consumer goods
27 26 ERICSSON EESTI, AS 299.00 296.00 1% 415.0 37.0 22 Manufacturing: industrial goods
43 45 LEMEKS, AS (K) 199.00 185.00 7% 200.0 29.0 22 ee Manufacturing: industrial goods
97 86 METAPRINT, AS 94.00 98.00 -4% 93.0 13.0 22 ee Manufacturing: industrial goods
32 29 NORTAL GROUP HOLDING, AS (K) 235.00 262.00 -10% 220.0 21.0 23 ee IT ja telekommunikatsiooniteenused
74 - LEAB EESTI, OÜ 125.00 - - 109.0 22.0 23 Manufacturing: industrial goods
49 46 SPORTLAND INTERNATIONAL GROUP, AS (K) 173.00 182.00 -5% 176.0 18.0 24 Trade: consumer goods
60 - MAAG GRUPP, AS (K) 151.00 - - 495.0 27.0 24 ee Manufacturing: consumer goods
88 - MY FITNESS, AS (K) 110.00 - - 59.0 15.0 24 ee Consumer services
38 37 LEMISTE CENTER, OÜ 216.00 213.00 1% 19.0 17.0 25 Real estate operations
63 56 OG ELEKTRA, AS 144.00 154.00 -6% 253.0 15.0 25 ee Trade: consumer goods
66 62 KAWE, AS (K) 139.00 140.00 -1% 18.0 11.0 25 Real estate operations
15 14 RIIGIMETSA MAJANDAMISE KESKUS, SA 569.00 634.00 -10% 253.0 90.0 26 ee Extraction of natural resources
29 52 GO GROUP, AS (K) 290.00 164.00 77% 139.0 36.0 27 ee Transport, transit, logistics
52 80 TAVID, AS (K) 167.00 108.00 54% 805.0 20.0 27 ee Trade: other
69 - KONESKO, AS 129.00 - - 95.0 8.0 27 Manufacturing: industrial goods
87 78 ASTRI, AS (K) 111.00 113.00 -2% 13.0 9.0 27 ee Real estate operations
101 - NOBE, OÜ (K) 89.00 - - 136.0 16.0 27 ee Manufacturing: industrial goods
54 49 ROCCA AL MARE KAUBANDUSKESKUSE, AS 165.00 172.00 -4% 19.0 13.0 28 Real estate operations
78 70 CITYCON BALTICS HOLDING, OÜ 120.00 126.00 -5% 15.0 9.0 29 Real estate operations
46 31 COMBIWOOD GRUPP, OÜ (K) 187.00 228.00 -18% 221.0 32.0 30 ee Manufacturing: industrial goods
55 48 KAAMOS HOLDING, OÜ (K) 156.00 175.00 -11% 69.0 15.0 30 ee Real estate operations
86 73 PERFORCE SOFTWARE, AS 112.00 117.00 -4% 19.0 8.0 31 IT ja telekommunikatsiooniteenused
14 16 GRAANUL INVEST, AS (K) 588.00 479.00 23% 506.0 103.0 32 Manufacturing: energy carriers
50 51 A. LE COQ, AS 173.00 170.00 2% 108.0 19.0 32 Manufacturing: consumer goods
51 53 MAXIMA EESTI, OÜ 171.00 163.00 4% 599.0 20.0 33 Trade: consumer goods
42 - MAINOR, AS (K) 208.00 - % 61.0 26.0 34 ee Real estate operations
59 58 RIMI EESTI FOOD, AS 151.00 150.00 1% 483.0 17.0 34 Trade: consumer goods
85 64 VEHO BALTICS, OÜ 114.00 136.00 -16% 368.0 14.0 35 Trade: consumer goods
28 30 ELME MESSER GAAS, AS (K) 295.00 235.00 25% 63.0 19.0 37 ee Manufacturing: energy carriers
34 55 CIRCLE K EESTI, AS 231.00 158.00 46% 396.0 22.0 37 Trade: energy carriers
25 22 EFTEN REAL ESTATE FUND 4, OÜ 339.00 380.00 -11% 32.0 27.0 38 ee Real estate operations
8 10 VIRU KEEMIA GRUPP, AS (K) 1 958.00 795.00 20% 337.0 176.0 41 ee Manufacturing: energy carriers
73 77 TELE2 EESTI, AS 125.00 114.00 9% 85.0 18.0 41 IT ja telekommunikatsiooniteenused
100 84 SAKU ÕLLETEHASE AS 90.00 100.00 -11% 79.0 9.0 41 Manufacturing: consumer goods
36 36 RAMIRENT BALTIC, AS (K) 227.00 214.00 6% 77.0 25.0 42 Consumer services
23 23 EFTEN REAL ESTATE FUND, AS (K) 361.00 343.00 5% 32.0 26.0 43 ee Real estate operations
37 32 EFTEN KINNISVARAFOND II, AS (K) 226.00 222.00 2% 24.0 18.0 43 ee Real estate operations
21 24 ELISA EESTI, AS 438.00 314.00 39% 224.0 71.0 46 IT ja telekommunikatsiooniteenused
83 89 ORKLA EESTI, AS 114.00 91.00 25% 96.0 13.0 46 Manufacturing: consumer goods
89 95 CRAMO ESTONIA, AS 104.00 86.00 21% 33.0 13.0 46 Consumer services
70 60 GLAMOX, AS 129.00 148.00 -13% 73.0 16.0 47 Manufacturing: industrial goods
10 11 TELIA EESTI, AS 865.00 753.00 15% 379.0 125.0 50 IT ja telekommunikatsiooniteenused
41 63 IF P&C INSURANCE, AS 210.00 139.00 51% 403.0 156.0 50 Financial services
82 - ABB, AS 115.00 - % 83.0 7.0 50 Manufacturing: industrial goods
48 39 GREN TARTU, AS (K) 186.00 205.00 -9% 52.0 17.0 51 Utility services
76 50 GREN EESTI, AS 123.00 171.00 -28% 34.0 13.0 51 Utility services
13 12 UTILITAS, OÜ (K) 640.00 738.00 -13% 210.0 72.0 54 Utility services
79 69 HARJU ELEKTER, AS (K) 116.00 127.00 -9% 174.0 10.0 55 ee Manufacturing: industrial goods
77 67 EESTI LOTO, AS 122.00 133.00 -9% 94.0 12.0 57 ee Consumer services
31 - INBANK, AS 249.00 - - 1436.0 148.0 59 ee Financial services
33 38 KASPERWIKI LAEVAOMANIKUD, OÜ (K) 232.00 210.00 10% 651.0 19.0 6 ee Trade: energy carriers
44 59 AQUA MARINA, AS (K) 197.00 148.00 33% 633.0 19.0 6 ee Trade: energy carriers
96 79 VIK KINNISVARA, AS (K) 94.00 113.00 -17% 14.0 8.0 6 ee Real estate operations
98 87 HOTELL VIRU, AS 93.00 95.00 -1% 8.0 8.0 6 Real estate operations
26 27 SUMMUS CAPITAL, OÜ (K) 336.00 295.00 14% 41.0 27.0 60 ee Real estate operations
1 3 EESTI ENERGIA, AS (K) 3352.00 1623.00 107% 1785.0 335.0 61 ee Utility services
16 28 MERKO EHITUS, AS (K) 554.00 280.00 98% 539.0 76.0 64 ee Construction
53 92 ERGO INSURANCE, SE 166.00 87.00 90% 397.0 119.0 66 Financial services
7 8 RIIGI KINNISVARA, AS 1095.00 1067.00 3% 186.0 83.0 68 ee Real estate operations
12 19 BIGBANK, AS (K) 658.00 435.00 51% 2778.0 270.0 69 ee Financial services
6 6 LHV GROUP, AS (K) 1229.00 1101.00 12% 8736.0 670.0 70 ee Financial services
80 90 PRO KAPITAL GRUPP, AS (K) 115.00 91.00 26% 18.0 2.0 70 Real estate operations
18 18 ELERING, AS 478.00 450.00 6% 214.0 62.0 74 ee Utility services
11 13 TKM GRUPP, AS (K) 685.00 684.00 0% 945.0 91.0 77 ee Trade: consumer goods
64 72 TALLINNA LENNUJAAM, AS (K) 143.00 118.00 21% 64.0 19.0 78 ee Transport, transit, logistics
2 1 SWEDBANK, AS (K) 2363.00 1961.00 20% 16734.0 1821.0 79 Financial services
9 9 TALLINK GRUPP, AS (K) 957.00 1025.00 -7% 786.0 175.0 79 ee Transport, transit, logistics
39 44 MOOTOR GRUPP, AS (K) 216.00 189.00 14% 83.0 18.0 8 ee Transport, transit, logistics
20 17 TALLINNA SADAM, AS (K) 458.00 451.00 2% 120.0 53.0 80 ee Transport, transit, logistics
5 5 SEB PANK, AS (K) 1377.00 1138.00 21% 9136.0 1048.0 85 Financial services
92 66 EESTI POST, AS (K) 102.00 133.00 -24% 141.0 8.0 85 ee Transport, transit, logistics
3 2 LUMINOR BANK, AS (K) 2232.00 1736.00 29% 15724.0 1686.0 89 Financial services
4 7 INFORTAR, AS (K) 1774.00 1083.00 64% 1372.0 145.0 89 ee Utility services
40 35 COOP PANK, AS (K) 212.00 217.00 -2% 2189.0 212.0 90 ee Financial services
24 25 TALLINNA VESI, AS (K) 347.00 301.00 16% 64.0 28.0 92 ee Utility services

The value of companies listed in TOP 101 2024 is based on company’s 2021-2023 financial reports and the valuation is determined using the comparable trading multiples method. Publicly traded companies' valuation is based on the share price and balance sheet snapshot on June 30th, 2024

K Behind the company name indicates that a consolidated report has been used.

*  TOP 101 presents enterprise value, except for banks, other credit institutions and insurance companies for which the respective column presents equity value.

** For banks, other credit institutions and insurance companies, the column "Turnover 2024" presents book value of total assets as at the end of 2024.

*** For banks, other credit institutions and insurance companies, the column "EBITDA 2024" presents book value of shareholders' equity as at the end of 2024.

1 The value of VIRU KEEMIA GRUPP, AS reflects the combined values of Viru Keemia Grupp and Kirde Investeeringud, treating them as a single entity.

TOP 101 values and GDP Estonia

Read more

TOP 101 threshold

Read more

Industry comparison

Read more