Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Qatari (QE) Market Analysis & Valuation

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies53
  • 7D0.7%
  • 3M-6.4%
  • 1Y0.6%
  • YTD-6.4%

In the last week, the market has been flat, with a notable exception in the Healthcare sector dropping 4.6%. As for the longer term, the market has also been flat over the past year. Earnings are forecast to grow by 6.8% annually.

Market Valuation and Performance

Has the Qatari Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026ر.ق602.4bر.ق204.2bر.ق51.4b11.5x11.7x2.9x
Tue, 03 Mar 2026ر.ق655.2bر.ق203.8bر.ق51.2b12.1x12.8x3.2x
Thu, 29 Jan 2026ر.ق677.3bر.ق201.5bر.ق50.6b12.8x13.4x3.4x
Sat, 27 Dec 2025ر.ق644.0bر.ق201.3bر.ق50.6b12.2x12.7x3.2x
Mon, 24 Nov 2025ر.ق633.8bر.ق201.3bر.ق50.6b12.1x12.5x3.1x
Wed, 22 Oct 2025ر.ق645.1bر.ق198.9bر.ق50.1b12.5x12.9x3.2x
Fri, 19 Sep 2025ر.ق673.6bر.ق199.1bر.ق50.3b12.8x13.4x3.4x
Sun, 17 Aug 2025ر.ق689.8bر.ق198.9bر.ق50.3b13.1x13.7x3.5x
Tue, 15 Jul 2025ر.ق634.4bر.ق196.9bر.ق49.7b13.1x12.8x3.2x
Thu, 12 Jun 2025ر.ق631.4bر.ق196.6bر.ق49.5b13x12.8x3.2x
Sat, 10 May 2025ر.ق611.1bر.ق196.3bر.ق48.9b12.5x12.5x3.1x
Mon, 07 Apr 2025ر.ق600.4bر.ق195.8bر.ق49.1b12.8x12.2x3.1x
Wed, 05 Mar 2025ر.ق613.8bر.ق195.8bر.ق49.0b13x12.5x3.1x
Fri, 31 Jan 2025ر.ق624.1bر.ق191.5bر.ق48.5b13.8x12.9x3.3x
Sun, 29 Dec 2024ر.ق615.6bر.ق191.7bر.ق48.0b13.1x12.8x3.2x
Tue, 26 Nov 2024ر.ق617.2bر.ق191.7bر.ق48.0b13.2x12.9x3.2x
Thu, 24 Oct 2024ر.ق612.1bر.ق189.7bر.ق47.3b13.2x12.9x3.2x
Sat, 21 Sep 2024ر.ق609.1bر.ق189.8bر.ق47.0b13.7x13x3.2x
Mon, 19 Aug 2024ر.ق587.1bر.ق190.7bر.ق46.9b12.8x12.5x3.1x
Wed, 17 Jul 2024ر.ق590.5bر.ق189.6bر.ق46.6b13.4x12.7x3.1x
Fri, 14 Jun 2024ر.ق560.5bر.ق188.6bر.ق46.3b12.9x12.1x3x
Sun, 12 May 2024ر.ق552.6bر.ق188.6bر.ق45.8b13.3x12.1x2.9x
Tue, 09 Apr 2024ر.ق576.2bر.ق184.7bر.ق45.6b13.7x12.6x3.1x
Thu, 07 Mar 2024ر.ق591.6bر.ق184.1bر.ق46.9b13.5x12.6x3.2x
Sat, 03 Feb 2024ر.ق586.0bر.ق187.1bر.ق46.1b13.9x12.7x3.1x
Mon, 01 Jan 2024ر.ق612.5bر.ق185.6bر.ق45.2b14.6x13.5x3.3x
Wed, 29 Nov 2023ر.ق586.0bر.ق185.6bر.ق45.2b13.9x13x3.2x
Fri, 27 Oct 2023ر.ق551.4bر.ق185.4bر.ق45.2b13.2x12.2x3x
Sun, 24 Sep 2023ر.ق605.7bر.ق183.6bر.ق45.2b14x13.4x3.3x
Tue, 22 Aug 2023ر.ق621.3bر.ق184.4bر.ق45.3b14.2x13.7x3.4x
Thu, 20 Jul 2023ر.ق614.2bر.ق187.0bر.ق47.0b14.6x13.1x3.3x
Sat, 17 Jun 2023ر.ق612.2bر.ق186.0bر.ق46.6b14.3x13.1x3.3x
Mon, 15 May 2023ر.ق627.8bر.ق185.4bر.ق47.0b14.1x13.4x3.4x
Wed, 12 Apr 2023ر.ق597.9bر.ق176.2bر.ق47.1b13.9x12.7x3.4x
Price to Earnings Ratio

12.7x


Total Market Cap: ر.ق597.9bTotal Earnings: ر.ق47.1bTotal Revenue: ر.ق176.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Qatari Market Price to Earnings3Y Average 12.8x202420252026
Current Market PE
  • Investors are relatively neutral on the Qatari market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 12.8x.
Past Earnings Growth
  • The earnings for Qatari listed companies have grown 3.0% per year over the last three years.
  • Revenues for these companies have grown 5.0% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Qatari Market?

QA Market0.72%
Materials2.66%
Industrials1.53%
Telecom0.89%
Utilities0.69%
Financials0.65%
Consumer Discretionary0.53%
Tech0.49%
Real Estate0.34%
Energy-0.63%
Consumer Staples-3.63%
Healthcare-4.56%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 34.1x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Consumer Discretionary sector is the least preferred by investors for future growth, which is trading below its 3-year average of 14.7x.
Forecasted Growth
  • Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 8.7% over the next 5 years.
  • This is better than its past earnings growth rate of 1.0% per year.
  • In contrast, the Materials industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
QNBK Qatar National Bank (Q.P.S.C.)ر.ق17.122.6%
+ر.ق4.0b		10.7%PB1.3xFinancials
IQCD Industries Qatar Q.P.S.Cر.ق11.053.3%
+ر.ق2.1b		-6.6%PE15.5xIndustrials
VFQS Vodafone Qatar P.Q.S.Cر.ق2.426.1%
+ر.ق587.6m		23.8%PE14.5xTelecom
QAMC Qatar Aluminium Manufacturing Company Q.P.S.Cر.ق1.426.4%
+ر.ق474.3m		19.6%PE10.3xMaterials
MPHC Mesaieed Petrochemical Holding Company Q.P.S.Cر.ق1.103.2%
+ر.ق427.1m		-17.9%PE26xMaterials
See more

Market Insights

Header cover image
What’s happening with Renewables & EVs?
Richard Bowman avatar
Richard Bowman
Part 1 of 3 in our “What’s happening with…” series, where we look back on the investment themes that were all the rage just a few years ago and see how they're doing now.
Continue reading
How to spot the winners in 2026's IPOs

Latest News

MERS
ر.ق13.32
Al Meera Consumer Goods Company Q.P.S.C
7D
-7.9%
1Y
-10.4%

Supply Chain Resilience And Dividend Cut Will Shape Long Term Earnings Stability

Catalysts About Al Meera Consumer Goods Company Q.P.S.C Al Meera Consumer Goods Company Q.P.S.C operates a supermarket and retail focused consumer business in Qatar, supported by rental and other income streams. What are the underlying business or industry changes driving this perspective?
CBQK
ر.ق4.32
Commercial Bank (P.S.Q.C.)
7D
2.4%
1Y
5.4%
QEWS
ر.ق14.37
Nebras Energy Q.P.S.C
7D
-1.4%
1Y
-0.9%
DHBK
ر.ق2.77
Doha Bank Q.P.S.C
7D
-12.6%
1Y
46.0%

DHBK: Future Returns Will Balance India Exit Plans With Dividend And Margin Expectations

Analysts have kept their QAR price target for Doha Bank Q.P.S.C. broadly steady at QAR 3.03, with only marginal adjustments to inputs such as discount rate, revenue growth, profit margin, and future P/E to reflect slightly refined assumptions rather than a change in overall view. What's in the News Board meeting on March 25, 2026 to consider shifting Doha Bank Q.P.S.C.'s India presence from full branches to a representative office and to proceed with a gradual exit from branch operations in India, subject to regulatory approvals (Key Developments).
QIBK
ر.ق22.41
Qatar Islamic Bank (Q.P.S.C.)
7D
-0.2%
1Y
13.5%
QNBK
ر.ق17.12
Qatar National Bank (Q.P.S.C.)
7D
2.6%
1Y
10.7%

QNBK: Custody Partnership And Buybacks Will Support Future Earnings Resilience

Analysts have trimmed their QAR price target for Qatar National Bank (Q.P.S.C.) from QAR22.82 to QAR22.50, reflecting updated assumptions around revenue growth, profit margins and future P/E multiples, while keeping the overall risk outlook broadly similar. What's in the News QNB Group and State Street Corporation signed a co operation agreement at the World Economic Forum in Davos to develop a new custody servicing model in Qatar, aiming to combine State Street's global custody scale with QNB's local market expertise for institutional clients (Key Developments).
ORDS
ر.ق12.54
Ooredoo Q.P.S.C
7D
0.7%
1Y
10.1%

ORDS: Fibre Network Carve Out Will Support Future Returns And Margins

Analysts have kept their QAR 16.95 price target for Ooredoo Q.P.S.C. unchanged, reflecting only marginal adjustments to discount rate, revenue growth, profit margin and forward P/E assumptions rather than a shift in their overall view of the shares. What's in the News Shareholders approved the appointment of KPMG as external auditor for the 2026 financial year at the ordinary general assembly meeting held on March 8, 2026 (company announcement).
MKDM
ر.ق2.42
Mekdam Holding Group - Q.P.S.C
7D
-10.3%
1Y
-9.6%
IQCD
ر.ق11.05
Industries Qatar Q.P.S.C
7D
3.3%
1Y
-6.6%

IQCD: Higher Margins And Dividend Payout Will Offset Production Reductions

Analysts have reduced their 12 month price target for Industries Qatar Q.P.S.C. from QAR 17.40 to QAR 16.00, citing updated assumptions related to revenue growth, profit margins and a slightly lower future P/E multiple. What's in the News At the AGM on March 10, 2026, Industries Qatar Q.P.S.C. approved a dividend payment of QAR 0.71 per share for 2025, equal to 71% of the nominal share value (Key Developments).
VFQS
ر.ق2.42
Vodafone Qatar P.Q.S.C
7D
6.1%
1Y
23.8%

VFQS: Stable Audit Outcome Will Support Upside Into 2026 And Beyond

Analysts have kept their QAR price target for Vodafone Qatar P.Q.S.C. unchanged, reflecting stable views on fair value, discount rate, growth outlook and expected P/E multiples based on the latest available research inputs. What's in the News The AGM on March 1, 2026 approved the appointment of PricewaterhouseCoopers (PwC) as External Auditor for the period from January 1, 2026 to December 31, 2026 and confirmed their fees (AGM minutes).
SIIS
ر.ق0.71
Salam International Investment Limited Q.P.S.C
7D
-9.8%
1Y
16.6%
DUBK
ر.ق3.45
Dukhan Bank Q.P.S.C
7D
1.8%
1Y
-2.3%
QAMC
ر.ق1.42
Qatar Aluminium Manufacturing Company Q.P.S.C
7D
6.4%
1Y
19.6%
ABQK
ر.ق3.72
Ahli Bank Q.P.S.C
7D
-7.0%
1Y
10.8%
QISI
ر.ق8.33
Qatar Islamic Insurance Group Q.P.S.C
7D
-4.1%
1Y
4.1%
MPHC
ر.ق1.10
Mesaieed Petrochemical Holding Company Q.P.S.C
7D
3.2%
1Y
-17.9%

Returns At Mesaieed Petrochemical Holding Company Q.P.S.C (DSM:MPHC) Appear To Be Weighed Down

Feb 04
Returns At Mesaieed Petrochemical Holding Company Q.P.S.C (DSM:MPHC) Appear To Be Weighed Down