
Which QSE sector earns the most on its shareholders' money — and which bank?
As of 29 October 2026, telecoms lead with an average Return on Equity of 13.7%, ahead of insurance (12.0%), consumer goods and services (11.2%) and banks and financial services (11.0%). Transportation (7.5%) and industrials (7.4%) trail, and real estate (3.2%) is last.
Among the eight QCB-licensed commercial banks, QIIB (QIIK) earns the highest Return on Equity at 16.4%, ahead of QNB (QNBK, 16.0%) and QIB (QIBK, 15.6%); Al Rayan Bank (MARK) earns the least at 4.8%. Against the median bank, QIIB ranks first on ROE, return on assets (2.13%) and price-to-book (1.92x), and second on net income margin (34.6%).
What does this mean? Return on Equity is net profit over average shareholders' equity — what the company earns on the owners' capital (post 26.123 has the four steps). A sector average over profitable companies only says where capital earns most.
A high ROE can come from leverage as much as from margins, and the market already pays for QIIB's: 1.92x book against 1.24x for the median bank.
The takeaway? The best Return on Equity on the QSE is not where the biggest companies are: telecoms and insurance by sector, QIIB among the banks.
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This content is for informational purposes only and does not constitute financial or investment advice. Sahmik is not a brokerage firm and is not licensed to provide investment advice.
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