This year’s report demonstrates a nation with resilience. The Top 100 generated £14.8bn in turnover, up 4.9% year-on-year, while EBITDA exceeded £1bn. Balance sheets have strengthened, with total assets rising to £6.8bn – a 15.5% increase – signalling confidence in future growth. These businesses collectively employ over 74,000 people, with wages continuing to trend positively.
What’s inside the Wales LTD. report?
We have reviewed Wales’ 100 largest privately owned companies, based upon turnover, providing an insight into the scale of Wales' privately owned and PE-backed business community.
The report also showcases the 25 fastest-growing companies in Wales with the highest EBITDA (earnings before interest, tax, depreciation and amortisation) CAGR percentage growth (over a 3-year period), as well as the largest international contributors.
What’s driving Wales' success?
Sector performance highlights the breadth of the Welsh economy. Consumer businesses remain the largest cohort, contributing over £7bn in turnover, although growth reflects a more cautious consumer backdrop. Manufacturing & Industrial continues to underpin the economy, generating £443m of EBITDA despite cost pressures, while Real Estate & Construction saw significant EBITDA growth of 49.2%, pointing to renewed momentum. Emerging strength in Technology, Media & Telecommunications further reflects increasing diversification.
Taken together, these trends reinforce the key themes shaping Wales today: ongoing investment in assets and capability, a broadening sector mix, and strong connectivity to wider markets. Growth is being driven not only by scale, but by resilience and a willingness to invest through the cycle.
Who came out on Top?
Want to know which companies are spearheading the growth in the Wales' ecosystem?
Wales LTD. At a glance
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Check out which businesses are impacting Wales economy in 2026
Alistair Wardell
