Discovering Undiscovered Gems in the Middle East This November 2025

In recent weeks, major Gulf markets have been subdued due to soft oil prices, with key indices like Dubai's main share index and Saudi Arabia's benchmark index experiencing declines. This environment presents a unique opportunity for investors to explore lesser-known stocks that may offer resilience and potential growth despite broader market challenges. Identifying such gems often involves looking for companies with strong fundamentals and strategic positioning within their industries, especially in sectors less impacted by fluctuating oil prices.

Top 10 Undiscovered Gems With Strong Fundamentals In The Middle East

Click here to see the full list of 202 stocks from our Middle Eastern Undiscovered Gems With Strong Fundamentals screener.

We'll examine a selection from our screener results.

Çelebi Hava Servisi (IBSE:CLEBI)

Simply Wall St Value Rating: ★★★★★★

Overview: Çelebi Hava Servisi A.S. offers ground handling, cargo, and warehouse services to domestic and international airlines as well as private air cargo companies primarily in Turkey, with a market cap of TRY39.88 billion.

Operations: Çelebi's revenue streams are primarily derived from ground handling, cargo, and warehouse services. The company's cost structure includes expenses related to operations and personnel. Notably, the net profit margin has shown variability over recent periods, reflecting changes in operational efficiency and market conditions.

Çelebi Hava Servisi, a notable player in the Middle Eastern infrastructure sector, has shown a robust financial performance with earnings growth of 8.4% over the past year, outpacing the industry average of 7.9%. The company’s debt profile appears healthier as its debt to equity ratio has improved significantly from 258.3% to 66.3% over five years, and it maintains a satisfactory net debt to equity ratio of 6.1%. Despite facing challenges in net income for nine months ending September 2025 at TRY 2,246 million compared to TRY 2,515 million previously, it remains well-positioned with a price-to-earnings ratio of just 12.6x against the market's broader rate of 19.4x.

• Get an in-depth perspective on Çelebi Hava Servisi's performance by reading our health report here.

• Review our historical performance report to gain insights into Çelebi Hava Servisi's's past performance.

Meitav Trade Investments (TASE:MTRD)

Simply Wall St Value Rating: ★★★★★★

Overview: Meitav Trade Investments Ltd offers financial investment services and has a market capitalization of ₪879.53 million.

Operations: MTRD's primary revenue stream is asset management, generating ₪206.38 million.

Meitav Trade Investments, a promising player in the Middle East, showcases robust financial health with no debt and high-quality earnings. Over the past five years, its earnings have grown at an impressive 28.2% annually. Recent results reveal a solid performance with second-quarter revenue reaching ILS 52.84 million, up from ILS 44.64 million last year, while net income rose to ILS 13.39 million from ILS 11.01 million previously. Despite not outperforming the broader Capital Markets industry in growth rate last year, Meitav's price-to-earnings ratio of 16.1x suggests it offers good value compared to the IL market average of 16.3x.

• Click here to discover the nuances of Meitav Trade Investments with our detailed analytical health report.

• Gain insights into Meitav Trade Investments' historical performance by reviewing our past performance report.

P.C.B. Technologies (TASE:PCBT)

Simply Wall St Value Rating: ★★★★★☆

Overview: P.C.B. Technologies Ltd is involved in the production, sale, marketing, and repair of printed circuit boards and beddings both in Israel and internationally, with a market cap of ₪838.49 million.

Operations: P.C.B. Technologies generates revenue primarily from its Zivod Electronics segment, contributing $99.24 million, followed by the Printed Circuit Board segment at $80.48 million, and Miniaturization of Electronic Systems at $5.71 million. The company's net profit margin is an important metric to consider when evaluating its financial performance over time.

PCB Technologies, a nimble player in the electronics sector, has witnessed impressive earnings growth of 221.9% over the past year, outpacing the industry average of 3.6%. This surge is underpinned by high-quality earnings and a satisfactory net debt to equity ratio at 19%, indicating sound financial management. Despite not being free cash flow positive recently, its interest payments are comfortably covered with an EBIT coverage of 3.7x. Over five years, its debt to equity ratio climbed from zero to 21.3%, suggesting increased leverage but still within acceptable limits for continued expansion opportunities in this competitive field.

• Delve into the full analysis health report here for a deeper understanding of P.C.B. Technologies.

• Gain insights into P.C.B. Technologies' past trends and performance with our Past report.

Turning Ideas Into Actions

• Delve into our full catalog of 202 Middle Eastern Undiscovered Gems With Strong Fundamentals here.
• Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments.
• Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage.

Looking For Alternative Opportunities?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com