50 Companies to Watch in 2026
Keep an eye on these global stocks, from Boeing and Reddit to Nike and Canada Goose.
By Bloomberg Businessweek
Illustrations by Oscar Bolton Green
Analysts at Bloomberg Intelligence track thousands of companies in industries ranging from computers and cars to finance and food. Here are 50 they’ve identified as worth watching carefully in the year ahead—for better or worse. Their analysis combines contrarian views and catalysts for change such as new leadership, asset sales or acquisitions, and plans for products and services. When building the list, BI also focused on the potential effects of shifting US tariff policies, the race to lock down supplies of vital resources and the transformative effects of artificial intelligence. —Tim Craighead
Industrials: Construction
ACS
Market cap ($b)
25
Top executive
Florentino Pérez Rodríguez, Chairman
2025 estimated revenue change
8
2026 estimated sales ($b)
62
Legal name
Actividades de Construcción y Servicios SA
The Spanish engineering and construction company’s operating profit is set to defy analyst forecasts in 2026. The key is US unit Turner, the top contractor in the States, where it leads in orders for data centers. Recent expansion plans from big tech companies point to further growth. —Sonia Baldeira
Health Care: Medical Devices
Agilent
Market cap ($b)
42
Top executive
Padraig McDonnell, President/CEO
2025 estimated revenue change
5
2026 estimated sales ($b)
7.4
Legal name
Agilent Technologies Inc.
The maker of equipment and supplies for laboratories is headed toward better-than-anticipated profit margins in 2026. It will likely benefit from customers replacing key products, slimmed-down costs after a restructuring and growing demand in China, which currently accounts for 15% of sales. —Jonathan Palmer
Industrials: Airline
Air France-KLM
Market cap ($b)
3.4
Top executive
Benjamin Smith, CEO
2025 estimated revenue change
4
2026 estimated sales ($b)
40
Legal name
Air France-KLM
After profiting from lower fuel costs through 2025 and higher ticket prices earlier in the year, the outlook is increasingly turbulent for the French-Dutch airline. Anticipated wage increases and higher aircraft maintenance expenses threaten profit margins. And growing competition on European and transatlantic routes—about two-thirds of Air France-KLM’s total flights—are further challenges. —Conroy Gaynor
Health Care: Health Insurance
Alignment Healthcare
Market cap ($b)
3.6
Top executive
John Kao, CEO/Founder
2025 estimated revenue change
30
2026 estimated sales ($b)
5.1
Legal name
Alignment Healthcare Inc.
The managed-care provider with a focus on the elderly is on a multiyear profit growth trajectory, and 2026 should showcase market share gains. Alignment has significantly lower hospitalizations, emergency room visits and readmissions than its peers. This in turn has driven costs down, making it easier to attract new members as it expands into existing markets such as California or into new ones like Arizona. —Glen Losev
Health Care: Biotech
Alnylam Pharma
Market cap ($b)
60
Top executive
Yvonne Greenstreet, CEO
2025 estimated revenue change
44
2026 estimated sales ($b)
5.4
Legal name
Alnylam Pharmaceuticals Inc.
The biotech company has developed the first approved drug of its kind to treat ATTR, a thickening of the heart wall that makes the organ pump less efficiently, afflicting as many as 500,000 people globally. This class of drugs, called silencers, may become the treatment of choice for the disease—and a major driver of growth for Alnylam. —Ann-Hunter van Kirk
Industrials: Transport Equipment
Alstom
Market cap ($b)
12
Top executive
Henri Poupart-Lafarge, CEO
2025 estimated revenue change
4
2026 estimated sales ($b)
23
Legal name
Alstom SA
The French maker of train and subway systems has the potential to generate €2.5 billion ($2.9 billion) in cash flow through 2028—significantly above consensus—on the sale of more profitable products and a growing backlog of orders. High-margin signaling and services segments will benefit as European railways implement a new region-wide control system. Germany’s multiyear effort to improve its ailing train system will be an added boost. —Omid Vaziri
Materials: Steel
ArcelorMittal
Market cap ($b)
34
Top executive
Aditya Mittal, CEO
2025 estimated revenue change
8
2026 estimated sales ($b)
67
Legal name
ArcelorMittal
Because of copious spare capacity and subdued industrial demand across Europe, the Luxembourg-based steelmaker will struggle to raise prices as much as the market expects. The situation could get even worse if too many shuttered mills are restarted in response to EU restrictions on imported steel. Many analysts have focused too much on the potential benefits of tariffs and Germany’s infrastructure buildout, ignoring the risks posed by overcapacity. —Alon Olsha
Financials: Insurance
Aviva
Market cap ($b)
26
Top executive
Amanda Blanc, CEO
2025 estimated revenue change
8
2026 estimated sales ($b)
50
Legal name
Aviva Plc
Since becoming the UK’s biggest auto insurer with its purchase of rival Direct Line, Aviva has suffered falling premiums and rising claims costs. Its share of the market has doubled, but it’s struggling to increase prices. The company’s target of boosting profits by 10% annually over the next two years looks like a stretch. —Kevin Ryan
Industrials: Aerospace
Boeing
Market cap ($b)
141
Top executive
Kelly Ortberg, President/CEO
2025 estimated revenue change
10
2026 estimated sales ($b)
97
Legal name
Boeing Co.
After seven years of losses, the plane maker has returned to profitability, and that recovery should continue despite geopolitical risks and slow economic growth. Boeing’s increased production of commercial aircraft is propelling earnings higher, and large backlogs will allow it to steer near-term deliveries away from places where it faces high tariffs. In the longer term, new orders should benefit from a perception that quality has stabilized and from purchases by countries seeking to equalize trade balances with the US. —George Ferguson
Health Care: Biotech
BridgeBio Pharma
Market cap ($b)
14
Top executive
Neil Kumar, CEO/Co-Founder
2025 estimated revenue change
84
2026 estimated sales ($b)
0.9
Legal name
BridgeBio Pharma Inc.
The biotech company has developed an oral drug for the most common form of dwarfism, a condition that affects as many as 250,000 people globally. BridgeBio’s pill is a significant step forward from earlier treatments that require a daily injection, which makes consistent usage tough. The market also appears to be overlooking the drug’s potential for treating a milder form of dwarfism, a use that could more than double current consensus sales expectations. —Ann-Hunter van Kirk
Discretionary: Restaurants
Brinker
Market cap ($b)
6.7
Top executive
Kevin Hochman, President/CEO
2025 estimated revenue change
3
2026 estimated sales ($b)
5.8
Legal name
Brinker International Inc.
Revenue for the owner of the Chili’s and Maggiano’s Little Italy restaurant chains is on track to beat consensus estimates. Brinker has boosted marketing for Chili’s, and new offerings such as frozen margaritas with Patron tequila, higher-quality ribs and improved nachos have significantly increased sales. Its remodeling of outlets to create a more welcoming vibe should help attract more customers. —Michael Halen
Discretionary: Apparel Retail
Canada Goose
Market cap ($b)
1.4
Top executive
Dani Reiss, Chairman/CEO
2025 estimated revenue change
5
2026 estimated sales ($b)
1.5
Legal name
Canada Goose Holdings Inc.
The puffy-coat maker’s recently hired creative director, Haider Ackermann, is beginning to have a positive impact, helping boost earnings more than many analysts forecast. Since his arrival in 2024, Ackermann has added collections such as the premium “Snow Goose” line. A revived marketing push and a focus on higher-profit direct-to-consumer sales are also contributing to the positive outlook. —Andrea Ferdinando Leggieri
Financials: Banking
Capitec
Market cap ($b)
27
Top executive
Graham Lee, CEO
2025 estimated revenue change
18
2026 estimated sales ($b)
3.4
Legal name
Capitec Bank Holdings Ltd.
The South African bank is on track to generate earnings growth of 15% or more through 2028. It’s taking the low-cost, low-price business model it developed for consumers and applying it to business banking, insurance and mortgages. Market expectations that growth will slow look too conservative. —Philip Richards
Materials: Building Materials
Carlisle
Market cap ($b)
13
Top executive
D. Christian Koch, Chairman/President/CEO
2025 estimated revenue change
3
2026 estimated sales ($b)
5.1
Legal name
Carlisle Cos.
The producer of building materials is poised to beat 2026 profit forecasts as harsher weather takes its toll on aging roofs in the US and insurance companies step up requirements that customers do a better job of maintaining their homes. Construction stemming from reshoring and infrastructure projects, particularly in the Sun Belt, are additional catalysts. —Kevin Kouam
Financials: Banking
CBA
Market cap ($b)
167
Top executive
Matt Comyn, CEO/Managing Director
2025 estimated revenue change
4
2026 estimated sales ($b)
20
Legal name
Commonwealth Bank of Australia
The market has lofty expectations for growth at Australia’s largest bank—CBA’s valuation is one of the highest among global lenders. But its earnings appear set to disappoint because of climbing expenses, worsening loan portfolio quality and looming rate cuts from the Australian central bank. —Matt Ingram
Materials: Chemicals
CF Industries
Market cap ($b)
12
Top executive
Tony Will, President/CEO
2025 estimated revenue change
-6
2026 estimated sales ($m)
6.6
Legal name
CF Industries Holdings Inc.
The US fertilizer maker is an early entrant into the market for “blue ammonia,” a lower carbon version of the compound whose use is growing quickly in Europe. The EU’s 2026-27 carbon policy should kick-start sales of the ingredient in fertilizers, chemicals, plastics and cleaning formulas, and given its US production base, CF’s costs are about half of those of its European rivals. —Alexis Maxwell
Industrials: Construction
China Railway Group
Market cap ($b)
18
Top executive
Chen Wenjian, Chairman
2025 estimated revenue change
1
2026 estimated sales ($b)
160
Legal name
China Railway Group Ltd.
With China’s infrastructure spending growth at a four-year low, it’s getting harder for big state-owned contractors such as this bellwether to meet revenue targets. And after decades of large-scale transportation and infrastructure initiatives, Beijing’s emphasis is shifting toward digital projects, green energy and urban renewal, which means China Railway Group will face greater competition from smaller companies. —Denise Wong
Utilities: Nuclear Power
Constellation
Market cap ($b)
112
Top executive
Joseph Dominguez, President/CEO
2025 estimated revenue change
11
2026 estimated sales ($b)
26
Legal name
Constellation Energy Corp.
The biggest US nuclear power operator is poised to beat profit expectations over the next couple of years as it meets surging demand for clean, reliable electricity from data centers that provide the computational power for the artificial intelligence boom. In key states such as Illinois, it’s signing new, more profitable contracts that lock in its role as a long-term energy supplier. —Nikki Hsu
Discretionary: Auto Parts
Continental
Market cap ($b)
15
Top executive
Nikolai Setzer, Chairman/CEO
2025 estimated revenue change
-2
2026 estimated sales ($b)
23
Legal name
Continental AG
The German tire maker’s profit margins are likely to beat forecasts over the next two years as it streamlines its business. Continental has shifted production to larger, lower-cost factories in China, and it’s cutting inefficient units, including its truck and bus tire operations in India. Completing the planned sale of its ContiTech industrial solutions division will allow the company to further focus on tires. —Gillian Davis
Financials: Banking
Danske
Market cap ($b)
39
Top executive
Carsten Egeriis, CEO
2025 estimated revenue change
1
2026 estimated sales ($b)
8.9
Legal name
Danske Bank A/S
With profit rising, the Danish bank should increase its dividend in 2026, as a three-year limitation on distributions imposed by regulators ended in 2025. Its profitability is climbing on strong lending income and solid credit, and with a capital buffer well above target, the lender has almost €3 billion it can use for higher dividends and buybacks. —Maryana Black
Discretionary: Footwear
Deckers
Market cap ($b)
13
Top executive
Stefano Caroti, President/CEO
2025 estimated revenue change
7
2026 estimated sales ($b)
5.6
Legal name
Deckers Outdoor Corp.
The maker of Ugg and Hoka footwear is hoping innovation will temper investor concerns about slowing sales momentum. Hoka aims to expand its roughly 1% share of the global sports-footwear market with refreshed products and a broader wholesale push across Europe, the Middle East, Africa and Asia. Ugg is introducing styles to stay relevant beyond the winter months while also boosting its appeal for men. Add it up and it looks like 2026 sales growth will exceed management’s guidance. —Abigail Gilmartin
Staples: Beverages
Diageo
Market cap ($b)
51
Top executive
Dave Lewis, CEO
2025 estimated revenue change
1
2026 estimated sales ($b)
20
Legal name
Diageo Plc
New Chief Executive Officer Dave Lewis is eyeing a recovery after two consecutive years of estimate cuts. If inventory levels stabilize, tariff fears ease and consumers keep buying from the top shelf, the British booze maker could double sales growth to 4%. —Duncan Fox
Staples: Supermarket
Dino Polska
Market cap ($b)
11
Top executive
Tomasz Biernacki, Chairman of the supervisory board
2025 estimated revenue change
18
2026 estimated sales ($b)
11
Legal name
Dino Polska SA
The Polish supermarket chain continues to face competitive challenges and high wage costs that will increasingly hurt its operating profit. Dino gets all its business in its home country, where discounters Aldi and Lidl are both expanding fast. This puts the company at risk of a prolonged price war and adds pressure to step up promotional spending. —Evgeniy Batchvarov
Technology: Software
Dynatrace
Market cap ($b)
14
Top executive
Rick McConnell, CEO
2025 estimated revenue change
15
2026 estimated sales ($b)
2.2
Legal name
Dynatrace Inc.
The infrastructure software company’s programs provide real-time monitoring of security and reliability for businesses’ AI applications. As AI adoption expands across industries, Dynatrace’s 2026 sales should again beat expectations. —Sunil Rajgopal
Communications: Video Games
Electronic Arts
Market cap ($b)
51
Top executive
Andrew Wilson, Chairman/CEO
2025 estimated revenue change
6
2026 estimated sales ($b)
8.3
Legal name
Electronic Arts Inc.
The gaming software shop’s new Battlefield 6 title has smashed the preorder records of Microsoft Corp.’s latest Call of Duty—the top franchise in the first-person shooter genre—and is on track to sell as many as 20 million copies. Electronic Arts’ soccer titles should also get a lift from the 2026 World Cup, making the company’s earnings guidance look conservative. —Nathan Naidu
Industrials: Electrical Equipment
Emerson
Market cap ($b)
74
Top executive
Lal Karsanbhai, President/CEO
2025 estimated revenue change
5
2026 estimated sales ($b)
19
Legal name
Emerson Electric Co.
The maker of industrial automation equipment is poised to benefit from new power projects and reshoring of manufacturing to the US. For instance, five US liquefied natural gas export terminals announced in 2025 point to significant orders for Emerson’s AI-enabled flow-control and software systems, which should help increase the company’s backlog to a new record. —Mustafa Okur
Communications: Satellite
Eutelsat
Market cap ($b)
1.8
Top executive
Jean-François Fallacher, CEO
2025 estimated revenue change
2
2026 estimated sales ($b)
1.4
Legal name
Eutelsat Communications SA
The Paris-based satellite operator is in a prime position to benefit as Europe boosts investment in security to counter the growing threat from Russia. The French military signed an agreement with Eutelsat for up to €1 billion in June, and other deals are in the works. And the company is likely to benefit from expansion of Iris2, the EU’s sovereign communications network. —John Davies
Materials: Copper
First Quantum
Market cap ($b)
19
Top executive
Tristan Pascall, CEO
2025 estimated revenue change
25
2026 estimated sales ($b)
6.4
Legal name
First Quantum Minerals Ltd.
The market is betting that First Quantum’s Cobre Panama copper mine will reopen in mid-2026, but that appears optimistic. The property was the company’s largest before Panama shut it down two years ago, and so far there’s no clear timeline for negotiations on restarting production. Given past protests over the mine and the economic stakes for both sides, a delay remains probable. —Grant Sporre
Health Care: Medical Devices
iRhythm
Market cap ($b)
5.9
Top executive
Quentin Blackford, President/CEO
2025 estimated revenue change
17
2026 estimated sales ($b)
0.8
Legal name
iRhythm Technologies Inc.
As it prepares to introduce a mobile cardiac telemetry device that can detect arrhythmia and send real-time data to monitoring centers, the medical device maker is on track for sales growth topping 20% through 2027. IRhythm is the leader in long-term cardiac monitors, and the new device promises to provide the company with a strong foothold in the mobile market as well. —Matt Henriksson
Health Care: Contract Research
Joinn Labs
Market cap ($b)
2.7
Top executive
Yuxia Feng, Chairman/Executive Director/Founder
2025 estimated revenue change
9
2026 estimated sales ($b)
0.3
Legal name
Joinn Laboratories (China) Co.
An effort by China to boost its pharmaceutical industry overseas offers an opportunity for its biotech companies. But that will include a shift away from generic therapies and locally based drug trials, which could hurt this Chinese provider of outsourced research and testing. With about 80% of its revenue coming from its home country, a shrinking backlog of contracts and a paucity of clinical trials increases the risk that Joinn will miss its 2026 sales forecasts. —Jamie Maarten
Financials: Banking
Kasikornbank
Market cap ($b)
14
Top executive
Kattiya Indaravijaya, CEO/Executive Director
2025 estimated revenue change
-1
2026 estimated sales ($b)
5.9
Legal name
Kasikornbank PCL
As Thailand’s growth slows and the country faces simmering trade tensions, its second-biggest lender is grappling with a shrinking loan portfolio and risky asset quality. Anemic gains in lending income and the need to set aside a bigger buffer to offset questionable loans could push the bank’s 2026 profits below forecasts. —Sarah Jane Mahmud
Real Estate: Data Center REIT
Keppel DC
Market cap ($b)
4.3
Top executive
Loh Hwee Long, CEO
2025 estimated revenue change
9
2026 estimated sales ($b)
0.3
Legal name
Keppel DC REIT
The Singapore real estate investment trust focuses exclusively on data centers, and the city-state’s reputation for political stability and security gives Keppel an edge in winning tenants for cloud and AI-related facilities. The REIT has also been able to increase rents as more companies seek space in existing centers, and it’s adding properties across Asia. —Ken Foong
Industrials: Machinery
Kion
Market cap ($b)
9.7
Top executive
Rob Smith, CEO
2025 estimated revenue change
6
2026 estimated sales ($b)
14
Legal name
Kion Group AG
The German maker of forklifts and warehouse equipment is benefiting from decarbonization efforts, expanding e-commerce and rising automation amid a cyclical recovery. Strong growth in 2025 orders portends robust 2026 sales, and the shift to battery-powered systems is a tailwind given Kion’s strength in electric trucks. —Omid Vaziri
Technology: Semiconductor Equipment
Lam Research
Market cap ($b)
199
Top executive
Tim Archer, President/CEO
2025 estimated revenue change
9
2026 estimated sales ($b)
22.3
Legal name
Lam Research Corp.
The surge in AI investment will likely benefit the semiconductor equipment maker’s revenue and earnings for the next two years. As more companies flock to the field, memory-chip producers such as Samsung Electronics and SK Hynix will need to invest in manufacturing tools to make processors and memory chips for AI servers. —Masahiro Wakasugi
Technology: Semiconductors
Marvell
Market cap ($b)
81
Top executive
Matt Murphy, Chairman/CEO
2025 estimated revenue change
16
2026 estimated sales ($b)
9.3
Legal name
Marvell Technology Inc.
Sales expectations look too conservative for this manufacturer of specialized chips that are critical for computer networks. Marvell has seen accelerating order growth from AI data centers with customers like Microsoft and Amazon.com Inc., and it’s working on more than 20 megaprojects. With about $7.5 billion already committed from a current pipeline of $75 billion, its business is poised to jump even further. —Kunjan Sobhani
Discretionary: Sports Apparel
Nike
Market cap ($b)
97
Top executive
Elliott Hill, President/CEO
2025 estimated revenue change
4
2026 estimated sales ($b)
48
Legal name
Nike Inc.
After three years of falling profit forecasts, the sportswear giant is starting to benefit from new product innovations. Early examples include the Pegasus Premium and Vomero 18 running shoes, Kobe Protro basketball shoes, an apparel collection called 24.7 and an expansion of the Air franchise—all introduced in 2025. Nike is also deepening partnerships with Foot Locker and Amazon.com, and it has a new women’s activewear line with Skims. —Poonam Goyal
Materials: Steel
Nucor
Market cap ($b)
37
Top executive
Leon Topalian, Chairman/President/CEO
2025 estimated revenue change
6
2026 estimated sales ($b)
35
Legal name
Nucor Corp.
Tariffs mean the American steelmaker’s products may displace imports, increasing operating profit faster than market projections suggest. Nucor has the broadest product line in the US and spare capacity to meet demand. It’s also nearing completion of a $16 billion investment plan aimed at expanding that line beyond basic steel commodities, adding products suited to infrastructure buildout and data center applications. —Richard Bourke
Financials: Banking
OTP Bank
Market cap ($b)
29.4
Top executive
Péter Csányi, CEO
2025 estimated revenue change
6
2026 estimated sales ($b)
9.4
Legal name
OTP Bank Nyrt.
With profits accelerating, shareholder payouts at the Hungarian lender could climb significantly in the next two years. Business in Eastern Europe is propelling growth at OTP, which has seen its loan book expand by 10% annually since 2020. Management could increase dividends and share buybacks from the current level of about 45% to be more in line with peers, where payouts of 70% are the norm. —Ilia Shchupko
Discretionary: Retail
Pick n Pay
Market cap ($b)
1.1
Top executive
Sean Summers, CEO
2025 estimated revenue change
11
2026 estimated sales ($b)
7.7
Legal name
Pick n Pay Stores Ltd.
The South African supermarket chain looks set for a recovery in profits as price cuts boost sales growth, renovations make stores more welcoming to shoppers, and management seeks to expand the lineup of big brands. Add it up and it looks like earnings will make a big jump in 2026. —Charles Allen
Technology: Internet Media
Market cap ($b)
43
Top executive
Steve Huffman, CEO/Co-Founder
2025 estimated revenue change
38
2026 estimated sales ($b)
2.9
Legal name
Reddit Inc.
With AI services increasingly showing source links in search results, the user-driven discussion and information website is poised to benefit as more people get directed to its pages rather than simply seeing summaries. A strong rise in visitors—and ads served to them—would push 2026 revenue above consensus. —Mandeep Singh
Financials: Mortgage Finance
Rocket
Market cap ($b)
57
Top executive
Varun Krishna, CEO
2025 estimated revenue change
66
2026 estimated sales ($b)
11
Legal name
Rocket Cos.
The online mortgage lender’s 2025 acquisition of rival Mr. Cooper is likely to lead to weaker-than-expected 2026 earnings. The acquirer may have trouble realizing expected cost savings if Mr. Cooper’s low-cost model is adjusted to match Rocket’s service-intensive approach. Another hurdle is high interest rates, which have damped mortgage origination activity. —Ben Elliott
Technology: Semiconductors
Samsung Electronics
Market cap ($b)
420
Top executive
Lee Jae-Yong, Chairman
2025 estimated revenue change
18
2026 estimated sales ($b)
262
Legal name
Samsung Electronics Co.
The world’s largest memory chip maker is likely to post stronger-than-expected profits in 2026 as rising demand drives up prices for conventional DRAM chips, one of Samsung’s main products. Rivals SK Hynix Inc. and Micron Technology Inc. are focusing more on advanced high-bandwidth memory chips for AI, giving Samsung a further edge in traditional memory. —Masahiro Wakasugi
Utilities: Renewables
Scatec
Market cap ($b)
1.5
Top executive
Terje Pilskog, CEO
2025 estimated revenue change
12
2026 estimated sales ($b)
0.6
Legal name
Scatec ASA
The Norwegian renewable energy producer, which develops solar, wind and hydropower projects in emerging markets, is well-positioned for stronger-than-expected profits from 2026 to 2028. Scatec’s solar installations in Egypt and South Africa are on track to boost operating capacity by about 50%, which will mean higher electricity volumes at stable profit margins. —Alessio Mastrandrea
Industrials: Food Service
Sodexo
Market cap ($b)
7.6
Top executive
Thierry Delaporte, CEO
2025 estimated revenue change
4
2026 estimated sales ($b)
28
Legal name
Sodexo
Helped by price increases and new contracts, the French food-services provider looks set to return to growth after two years of lowering its financial forecasts. But the company, which serves businesses, schools and hospitals, must improve its client retention rate, which at 94% stands below that of peers. That’s likely to be a key focus for CEO Thierry Delaporte, who took over in November. —Stuart Gordon
Financials: Insurance
Sony Financial
Market cap ($b)
6.7
Top executive
Toshihide Endo, President/CEO
2025 estimated revenue change
7%
2026 estimated sales ($b)
6.9
Legal name
Sony Financial Group Inc.
The Japanese insurer is likely to return much more to shareholders than the market expects after relisting on the Tokyo Stock Exchange in September. Its strong capital position supports an announced stock buyback plan, and together with cash dividends, total shareholder returns could reach 100 billion yen ($640 million). —Steven Lam
Financials: Islamic Insurance
Tawuniya
Market cap ($b)
4.9
Top executive
Othman Yousef AlKassabi, CEO
2025 estimated revenue change
15
2026 estimated sales ($b)
6.5
Legal name
The Company for Cooperative Insurance (Tawuniya)
The Saudi insurer is set for stronger-than-expected earnings growth as it expands into the country’s $60 billion health-care market. With the government shying away from its dominant role in the sector, Tawuniya’s primary health-care arm, Meena, is growing faster than its rivals. And its hybrid model of in-person and digital services helps cut inpatient and emergency claims. —Salome Skhirtladze
Communications: Telecom
Telkom Indonesia
Market cap ($b)
21
Top executive
Angga Raka Prabowo, President Commissioner
2025 estimated revenue change
3
2026 estimated sales ($b)
9.2
Legal name
PT Telkom Indonesia (Persero) Tbk.
After a drop in mobile revenue over the past two years, the Indonesian carrier is poised for a strong recovery in 2026. Under new leadership, it’s raising entry-level prices, promoting bundles that combine fixed and mobile phone plans, and benefiting from higher data usage. Proceeds from selling noncore assets such as its wholesale fiber or signal tower businesses may also help lift dividends. —Chris Muckensturm
Technology: Semiconductors
TSMC
Market cap ($b)
1200
Top executive
C.C. Wei
2025 estimated revenue change
22
2026 estimated sales ($b)
147
Legal name
Taiwan Semiconductor Manufacturing Co.
With strong demand for AI chips and limited competition in advanced chipmaking, consensus profit forecasts for the world’s top semiconductor foundry look too low. TSMC, which makes AI chips for Nvidia, Broadcom and AMD as well as other processors for long-time customers such as Apple, is well-positioned to increase prices and strengthen margins. —Charles Shum
Financials: Investment Management
Voya Financial
Market cap ($b)
6.7
Top executive
Heather Lavallee, CEO
2025 estimated revenue change
6
2026 estimated sales ($b)
8.2
Legal name
Voya Financial Inc.
Earnings forecasts for 2026 are likely to keep rising, helped by growth across Voya’s businesses. Its “stop-loss” medical insurance programs, which limit employer health costs, are gaining from higher renewal prices. And its retirement and investment services division has more than $1 trillion in client assets, generating additional revenue. —Jeffrey Flynn
Energy: Oil & Gas Midstream
Western Midstream
Market cap ($b)
16
Top executive
Oscar Brown, President/CEO
2025 estimated revenue change
11
2026 estimated sales ($b)
4.2
Legal name
Western Midstream Partners LP
Cash flow at the operator of oil, gas and water pipelines is likely to be stronger than expected. Western Midstream’s focus on gathering and processing natural gas from the Permian Basin is a key growth driver, even as the industry worries about low energy prices. Its purchase of Aris, which handles polluted water produced from oil and gas wells, should also boost growth and cost savings. —Talon Custer
(Corrects market cap figure for OTP Bank.)
All figures compiled or calculated based on the most recent company reports and Bloomberg consensus estimates. Market capitalization figures were updated on Dec. 1, 2025.
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