TOP 101 - 2026
Estonia's most valuable enterprises
Discover your company’s value
| TOP 2026 | TOP 2025 | Company name | Value 2026 | Value 2025 | Change | Turnover 2025 | EBITDA 2025 | CorpGov Score | Industry |
|---|
| 64 | - | SPRIBE, OÜ | 164.00 | - | - | 42.2 | 4.1 | 17 | IT ja telekommunikatsiooniteenused | |
| 80 | 69 | KONESKO, AS | 144.00 | 129.00 | 12% | 96.9 | 6.7 | 25 | Manufacturing: industrial goods | |
| 95 | - | VIRU KESKUS, AS | 107.00 | - | - | 28.4 | 7.5 | 13 |
|
Real estate operations |
| 97 | 93 | KAARSILLA KINNISVARA, OÜ | 106.00 | 102.00 | 3% | 97.0 | 8.4 | 20 |
|
Real estate operations |
| 76 | 82 | ABB, AS | 147.00 | 115.00 | 28% | 98.0 | 8.6 | 57 | Manufacturing: industrial goods | |
| 96 | 76 | GREN EESTI, AS | 106.00 | 123.00 | -14% | 13.4 | 8.8 | 62 | Utility services | |
| 98 | - | RUNIKON RETAIL, OÜ | 105.00 | - | - | 177.0 | 9.5 | 26 | Trade: consumer goods | |
| 86 | - | RAADIKU ARENDUS, OÜ | 126.00 | - | - | 14.2 | 9.9 | 8 |
|
Real estate operations |
| 99 | - | GPV ESTONIA, AS | 105.00 | - | - | 49.2 | 10.1 | 46 | Manufacturing: industrial goods | |
| 94 | 65 | MULTIMODALHD EESTI, OÜ | 108.00 | 141.00 | -23% | 17.1 | 11.1 | 21 | Trade: energy carriers | |
| 81 | 62 | EKE, AS (K) | 139.00 | 145.00 | -4% | 21.3 | 11.5 | 7 |
|
Real estate operations |
| 101 | 84 | OB HOLDING 1, OÜ | 102.00 | 114.00 | -10% | 32.0 | 11.8 | 14 | Consumer services | |
| 74 | 57 | CAPFIELD, OÜ (K) | 149.00 | 153.00 | -3% | 19.8 | 11.9 | 15 | Real estate operations | |
| 58 | 47 | SKINEST GRUPP, AS (K) | 176.00 | 187.00 | -6% | 80.2 | 12.1 | 14 |
|
Trade: industrial goods |
| 78 | 59 | RIMI EESTI FOOD, AS | 145.00 | 151.00 | -4% | 485.0 | 12.3 | 52 | Trade: consumer goods | |
| 92 | 72 | HELMES, AS (K) | 112.00 | 127.00 | -12% | 65.9 | 12.7 | 28 |
|
IT ja telekommunikatsiooniteenused |
| 71 | 66 | KAWE, AS (K) | 154.00 | 139.00 | 10% | 22.9 | 12.9 | 25 | Real estate operations | |
| 87 | 87 | ASTRI, AS (K) | 118.00 | 111.00 | 6% | 33.1 | 13.0 | 30 |
|
Real estate operations |
| 70 | 70 | GLAMOX, AS | 155.00 | 129.00 | 20% | 66.4 | 13.2 | 62 | Manufacturing: industrial goods | |
| 91 | - | ORIEN TRADE, OÜ | 112.00 | - | - | 117.9 | 13.3 | 25 |
|
Trade: consumer goods |
| 89 | - | FALBER, OÜ | 114.00 | - | - | 154.7 | 13.5 | 17 |
|
Manufacturing: consumer goods |
| 62 | 54 | ROCCA AL MARE KAUBANDUSKESKUSE, AS | 171.00 | 165.00 | 4% | 19.6 | 14.1 | 26 | Real estate operations | |
| 59 | 39 | MOOTOR GRUPP, AS (K) | 172.00 | 216.00 | -20% | 83.6 | 14.7 | 16 |
|
Transport, transit, logistics |
| 79 | 63 | OG ELEKTRA, AS | 144.00 | 144.00 | 0% | 288.2 | 14.7 | 28 |
|
Trade: consumer goods |
| 72 | 58 | SYNLAB EESTI, OÜ | 150.00 | 152.00 | -1% | 43.9 | 15.2 | 30 | Consumer services | |
| 73 | 85 | VEHO BALTICS, OÜ | 149.00 | 114.00 | 31% | 419.3 | 15.5 | 34 | Trade: consumer goods | |
| 84 | 61 | DATASHIFT, OÜ (K) 3 | 132.00 | 148.00 | -11% | 22.9 | 15.6 | 14 |
|
IT ja telekommunikatsiooniteenused |
| 45 | 37 | EFTEN KINNISVARAFOND II, AS (K) | 225.00 | 226.00 | 0% | 22.9 | 16.1 | 53 |
|
Real estate operations |
| 83 | 79 | HARJU ELEKTER, AS (K) | 134.00 | 116.00 | 15% | 174.0 | 16.4 | 71 |
|
Manufacturing: industrial goods |
| 67 | 44 | AQUA MARINA, AS (K) | 162.00 | 197.00 | -18% | 655.3 | 16.6 | 8 |
|
Trade: energy carriers |
| 47 | 38 | ÜLEMISTE CENTER, OÜ | 214.00 | 216.00 | -1% | 18.7 | 17.0 | 25 | Real estate operations | |
| 57 | 55 | KAAMOS HOLDING, OÜ (K) | 177.00 | 156.00 | 13% | 68.9 | 17.1 | 51 |
|
Real estate operations |
| 66 | 95 | WISA PLYWOOD, OÜ 2 | 163.00 | 98.00 | 67% | 79.9 | 17.3 | 26 | Manufacturing: industrial goods | |
| 69 | 49 | SPORTLAND INTERNATIONAL GROUP, AS (K) | 156.00 | 173.00 | -10% | 177.6 | 17.3 | 13 | Trade: consumer goods | |
| 90 | 92 | EESTI POST, AS (K) | 113.00 | 102.00 | 11% | 122.4 | 17.3 | 79 |
|
Transport, transit, logistics |
| 33 | 28 | ELME MESSER GAAS, AS (K) | 290.00 | 295.00 | -2% | 29.4 | 17.8 | 40 |
|
Manufacturing: energy carriers |
| 100 | - | KOHILA VINEER, OÜ | 104.00 | - | - | 48.3 | 17.8 | 33 | Manufacturing: industrial goods | |
| 85 | 88 | MY FITNESS, AS (K) | 130.00 | 110.00 | 18% | 71.6 | 18.3 | 21 |
|
Consumer services |
| 88 | 81 | ESRAVEN, AS (K) | 117.00 | 115.00 | 2% | 47.8 | 18.4 | 9 |
|
Real estate operations |
| 53 | 33 | KASPERWIKI LAEVAOMANIKUD, OÜ (K) | 196.00 | 232.00 | -15% | 684.7 | 18.7 | 14 |
|
Trade: energy carriers |
| 61 | 50 | A. LE COQ, AS | 171.00 | 173.00 | -1% | 103.9 | 19.0 | 34 | Manufacturing: consumer goods | |
| 26 | 27 | ERICSSON EESTI, AS | 360.00 | 299.00 | 21% | 416.6 | 19.3 | 72 | Manufacturing: industrial goods | |
| 56 | 32 | NORTAL GROUP HOLDING, AS (K) | 184.00 | 235.00 | -22% | 254.2 | 19.4 | 35 |
|
IT ja telekommunikatsiooniteenused |
| 49 | - | RABATTI, OÜ (K) | 211.00 | - | - | 50.9 | 19.8 | 6 |
|
Manufacturing: industrial goods |
| 93 | 75 | ESTIKO GRUPP, AS (K) | 110.00 | 125.00 | -12% | 154.9 | 20.6 | 21 |
|
Real estate operations |
| 63 | - | CONNECTO VARAD, OÜ (K) | 165.00 | - | - | 146.0 | 20.7 | 12 |
|
Construction |
| 75 | 67 | AKTIVA FINANTS, OÜ (K) | 148.00 | 135.00 | 9% | 48.5 | 20.8 | 19 |
|
Consumer services |
| 40 | 30 | STILTSOFT EUROPE, OÜ | 235.00 | 261.00 | -10% | 25.2 | 21.9 | 14 |
|
IT ja telekommunikatsiooniteenused |
| 30 | 25 | EFTEN REAL ESTATE FUND 4, UÜ (K) | 300.00 | 339.00 | -12% | 26.3 | 22.3 | 43 |
|
Real estate operations |
| 50 | 56 | ADOLE INVEST, AS (K) | 204.00 | 153.00 | 34% | 419.0 | 22.7 | 11 | Trade: consumer goods | |
| 77 | 73 | TELE2 EESTI, AS | 146.00 | 125.00 | 17% | 88.4 | 22.7 | 35 | IT ja telekommunikatsiooniteenused | |
| 65 | 71 | PANAMIR, OÜ | 164.00 | 128.00 | 28% | 175.3 | 23.8 | 15 |
|
Trade: consumer goods |
| 41 | 48 | GREN TARTU, AS (K) | 231.00 | 186.00 | 24% | 48.7 | 24.1 | 59 | Utility services | |
| 60 | 60 | MAAG GRUPP, AS (K) | 171.00 | 151.00 | 14% | 483.4 | 24.1 | 23 |
|
Manufacturing: consumer goods |
| 27 | - | MAINOR ÜLEMISTE, AS (K) | 332.00 | - | - | 43.9 | 24.6 | 58 |
|
Real estate operations |
| 34 | 42 | MAINOR, AS (K) | 285.00 | 208.00 | 37% | 50.7 | 25.2 | 36 |
|
Real estate operations |
| 46 | 74 | LEAB EESTI, OÜ | 221.00 | 125.00 | 76% | 169.1 | 25.2 | 30 | Manufacturing: industrial goods | |
| 48 | 36 | RAMIRENT BALTIC, AS (K) | 214.00 | 227.00 | -6% | 74.2 | 25.4 | 30 | Consumer services | |
| 43 | 34 | CIRCLE K EESTI, AS | 227.00 | 231.00 | -2% | 358.3 | 25.9 | 32 | Trade: energy carriers | |
| 54 | - | MOBIRE GROUP, OÜ | 195.00 | - | - | 51.4 | 26.2 | 34 |
|
Consumer services |
| 25 | 23 | EFTEN REAL ESTATE FUND, AS (K) | 372.00 | 361.00 | 3% | 33.1 | 26.8 | 67 |
|
Real estate operations |
| 52 | 64 | TALLINNA LENNUJAAM, AS (K) | 198.00 | 143.00 | 39% | 73.2 | 26.8 | 76 |
|
Transport, transit, logistics |
| 31 | 29 | GO GROUP, AS (K) | 295.00 | 290.00 | 2% | 137.4 | 27.0 | 28 |
|
Transport, transit, logistics |
| 51 | - | MARAL INVEST, OÜ | 204.00 | - | - | 209.1 | 29.6 | 8 |
|
Manufacturing: consumer goods |
| 24 | 24 | TALLINNA VESI, AS (K) | 394.00 | 347.00 | 14% | 72.5 | 31.0 | 87 |
|
Utility services |
| 37 | 51 | MAXIMA EESTI, OÜ | 247.00 | 171.00 | 45% | 600.9 | 31.0 | 38 | Trade: consumer goods | |
| 35 | 43 | LEMEKS, AS (K) | 282.00 | 199.00 | 42% | 204.7 | 31.3 | 19 |
|
Manufacturing: industrial goods |
| 42 | 35 | TIIGI KESKUS, AS (K) | 231.00 | 231.00 | 0% | 347.7 | 32.9 | 16 |
|
Manufacturing: consumer goods |
| 23 | 26 | SUMMUS CAPITAL, OÜ (K) | 403.00 | 336.00 | 20% | 55.5 | 33.5 | 62 |
|
Real estate operations |
| 28 | 46 | COMBIWOOD GRUPP, OÜ (K) | 302.00 | 187.00 | 62% | 288.0 | 35.7 | 29 |
|
Manufacturing: industrial goods |
| 20 | 16 | MERKO EHITUS, AS (K) | 504.00 | 554.00 | -9% | 310.9 | 37.5 | 90 |
|
Construction |
| 38 | 52 | TAVID, AS (K) | 241.00 | 167.00 | 44% | 1556.2 | 40.1 | 29 |
|
Trade: other |
| 19 | 22 | KAPITEL, AS (K) | 529.00 | 378.00 | 40% | 87.5 | 52.3 | 30 |
|
Real estate operations |
| 36 | - | LTH-BAAS, AS | 271.00 | - | - | 171.5 | 52.6 | 7 |
|
Manufacturing: industrial goods |
| 17 | 18 | ELERING, AS | 533.00 | 478.00 | 11% | 300.5 | 56.6 | 74 |
|
Utility services |
| 21 | 20 | TALLINNA SADAM, AS (K) | 481.00 | 458.00 | 5% | 118.7 | 57.7 | 85 |
|
Transport, transit, logistics |
| 32 | - | PAWATECH, OÜ | 291.00 | - | - | 100.6 | 57.9 | 12 | Consumer services | |
| 15 | 17 | BLRT GRUPP, AS (K) | 591.00 | 518.00 | 14% | 488.1 | 67.8 | 36 |
|
Manufacturing: industrial goods |
| 14 | 11 | TKM GRUPP, AS (K) | 702.00 | 685.00 | 3% | 920.0 | 77.0 | 75 |
|
Trade: consumer goods |
| 18 | 21 | ELISA EESTI, AS | 530.00 | 438.00 | 21% | 223.6 | 77.5 | 44 | IT ja telekommunikatsiooniteenused | |
| 8 | 7 | RIIGI KINNISVARA, AS | 1097.00 | 1095.00 | 0% | 177.2 | 77.9 | 73 |
|
Real estate operations |
| 16 | 19 | BALTIC MARITIME LOGISTICS GROUP, AS (K) | 564.00 | 474.00 | 19% | 366.1 | 81.8 | 13 |
|
Transport, transit, logistics |
| 82 | - | CREDITSTAR GROUP, AS (K) | 134.00 | - | - | 545.2 | 85.1 | 29 |
|
Financial services |
| 12 | 13 | UTILITAS, OÜ (K) | 850.00 | 640.00 | 33% | 223.1 | 96.9 | 63 | Utility services | |
| 5 | 15 | RIIGIMETSA MAJANDAMISE KESKUS, SA | 1378.00 | 569.00 | 142% | 254.2 | 99.2 | 35 |
|
Extraction of natural resources |
| 10 | 14 | GRAANUL INVEST, AS (K) | 937.00 | 588.00 | 59% | 526.9 | 104.8 | 32 | Manufacturing: energy carriers | |
| 68 | 68 | ALARMO KAPITAL, OÜ (K) | 159.00 | 135.00 | 18% | 0.6 | 104.8 | 10 |
|
Financial services |
| 11 | 9 | TALLINK GRUPP, AS (K) | 866.00 | 957.00 | -9% | 765.3 | 130.1 | 80 |
|
Transport, transit, logistics |
| 55 | 53 | ERGO INSURANCE, SE | 186.00 | 166.00 | 12% | 420.0 | 135.4 | 58 | Financial services | |
| 9 | 10 | TELIA EESTI, AS | 960.00 | 865.00 | 11% | 363.2 | 136.1 | 50 | IT ja telekommunikatsiooniteenused | |
| 44 | 41 | IF P&C INSURANCE, AS | 227.00 | 210.00 | 8% | 427.8 | 167.3 | 53 | Financial services | |
| 29 | 31 | INBANK, AS | 302.00 | 249.00 | 21% | 1.6 | 171.0 | 81 |
|
Financial services |
| 13 | 8 | VIRU KEEMIA GRUPP, AS (K) 1 | 818.00 | 958.00 | -15% | 291.2 | 192.4 | 35 |
|
Manufacturing: energy carriers |
| 4 | 4 | INFORTAR, AS (K) | 1897.00 | 1774.00 | 7% | 1837.0 | 232.6 | 89 |
|
Utility services |
| 39 | 40 | COOP PANK, AS (K) | 237.00 | 212.00 | 12% | 2703.0 | 234.5 | 80 |
|
Financial services |
| 22 | 12 | BIGBANK, AS (K) | 425.00 | 658.00 | -35% | 3316.7 | 299.4 | 70 |
|
Financial services |
| 1 | 1 | EESTI ENERGIA, AS (K) | 3615.00 | 3352.00 | 8% | 1646.9 | 308.3 | 70 |
|
Utility services |
| 7 | 6 | LHV GROUP, AS (K) | 1102.00 | 1229.00 | -10% | 10233.0 | 767.2 | 89 |
|
Financial services |
| 6 | 5 | SEB PANK, AS (K) | 1367.00 | 1377.00 | -1% | 9500.4 | 1041.2 | 85 | Financial services | |
| 3 | 2 | SWEDBANK, AS (K) | 2202.00 | 2363.00 | -7% | 16931.0 | 1728.0 | 70 | Financial services | |
| 2 | 3 | LUMINOR BANK, AS (K) | 2510.00 | 2232.00 | 12% | 15902.0 | 1885.0 | 92 | Financial services |
The value of companies listed in TOP 101 2026 is based on company’s 2023-2025 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, 2026.
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 2025" presents book value of total assets as at the end of 2025.
*** For banks, other credit institutions and insurance companies, the column "EBITDA 2025" presents book value of shareholders' equity as at the end of 2025.
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.
2 Company has changed its name. Formerly UPM-Kymmene Otepää OÜ
3 Company has changed its name. Formerly ITM TRADE OÜ