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