The first dimension, Growth Performance, was assessed using data from Statista’s revenue database, which contains company growth data for the last five years. To be considered for the evaluation the companies had to be headquartered in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia or the United Arab Emirates, publicly traded and demonstrate strong revenue growth in the last five years. Relative growth and the number of years in which growth was achieved, were considered in the evaluation.
The second dimension, Financial Stability, was investigated by analyzing the companies’ profitability as well as using classic metrics such as the Piotroski F-Score and Altman Z-Score, which refer to a company’s overall financial health and the probability to file for bankruptcy. Industry specific KPIs were utilized to portray financial stability of companies within the banking, insurance and REIT sector.
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