Middle Eastern Penny Stocks With Market Caps Over US$30M

Most Gulf markets have eased recently due to economic uncertainty, although rising oil prices and potential U.S. Federal Reserve rate cuts have helped limit losses. In this context, penny stocks—typically representing smaller or newer companies—remain a relevant investment area despite being considered a throwback term. By focusing on those with robust financials and clear growth trajectories, investors can find promising opportunities in the Middle East market among these lesser-known equities.

Top 10 Penny Stocks In The Middle East

Click here to see the full list of 80 stocks from our Middle Eastern Penny Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi (IBSE:AVOD)

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi operates in Turkey, offering dried vegetables and vegetable-based convenience foods under the Farmer's Choice brand, with a market cap of TRY1.27 billion.

Operations: The company generates revenue primarily from foreign markets, contributing TRY1.35 billion, while domestic operations in Turkey account for TRY54.20 million.

Market Cap: TRY1.27B

A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi, operating primarily in foreign markets, reported TRY814.25 million in sales for the first half of 2025 but remains unprofitable with a net loss of TRY135.29 million. Despite a high debt to equity ratio of 60.8%, the company has managed to reduce its debt over five years and maintains sufficient cash runway for over three years due to positive free cash flow. However, its share price is highly volatile, and earnings have declined by an average of 57.3% annually over the past five years, highlighting significant risks associated with this penny stock investment.

• Get an in-depth perspective on A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi's performance by reading our balance sheet health report here.
• Learn about A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi's historical performance here.

Duran Dogan Basim ve Ambalaj Sanayi (IBSE:DURDO)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Duran Dogan Basim ve Ambalaj Sanayi A.S., along with its subsidiaries, offers packaging products across Turkey and various international markets including Europe, the United States, the Middle East, Africa, and the Asia Pacific; it has a market cap of TRY1.73 billion.

Operations: The company generates revenue of TRY1.91 billion from its Packaging & Containers segment.

Market Cap: TRY1.73B

Duran Dogan Basim ve Ambalaj Sanayi A.S. operates with a market cap of TRY1.73 billion, generating TRY1.91 billion in revenue from its packaging segment, yet remains unprofitable with a net loss of TRY181.44 million for the first half of 2025. Despite high debt levels and volatility, the company has improved its debt to equity ratio significantly over five years and maintains sufficient short-term assets to cover liabilities. However, earnings have not grown over the past five years and remain negative, while its dividend yield is not well-supported by earnings due to ongoing losses in operations.

• Take a closer look at Duran Dogan Basim ve Ambalaj Sanayi's potential here in our financial health report.
• Evaluate Duran Dogan Basim ve Ambalaj Sanayi's historical performance by accessing our past performance report.

GSD Holding (IBSE:GSDHO)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: GSD Holding A.S. operates in finance, shipping, energy, and education sectors through its subsidiaries and has a market cap of TRY4.46 billion.

Operations: The company's revenue is primarily derived from its operations in Turkey, with TRY799.55 million from banking, TRY287.52 million from holding activities, and TRY1.76 billion from factoring, along with an additional contribution of TRY1.19 billion from both domestic and international marine services.

Market Cap: TRY4.46B

GSD Holding A.S., with a market cap of TRY4.46 billion, operates across finance, shipping, energy, and education sectors. The company reported a net loss of TRY28.04 million for Q2 2025 amidst declining sales from the previous year. Despite this setback, GSD Holding maintains robust short-term assets (TRY8.9 billion) that comfortably cover both short-term (TRY3.3 billion) and long-term liabilities (TRY2.8 billion). While its debt to equity ratio has risen over five years to 49.2%, it remains satisfactory with a net debt to equity ratio of 7.1%. Interest coverage is not an issue due to high-quality earnings and stable weekly volatility at 5%.

• Click here to discover the nuances of GSD Holding with our detailed analytical financial health report.
• Examine GSD Holding's past performance report to understand how it has performed in prior years.

Make It Happen

• Get an in-depth perspective on all 80 Middle Eastern Penny Stocks by using our screener here.
• Ready For A Different Approach? Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence.

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.

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