Undiscovered Gems in the Middle East for February 2026

Simply Wall St

Fri, February 13, 2026 at 12:32 PM GMT+9 5 min read

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ATRY.TA

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2288.SR

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As Middle Eastern markets show resilience with most Gulf bourses gaining on upbeat earnings, investors are brushing aside geopolitical tensions to focus on corporate performance. With indices like Saudi Arabia’s benchmark advancing and Dubai’s main share index rising, the region presents intriguing opportunities for those seeking growth in underexplored sectors. Identifying promising stocks involves assessing strong earnings potential and stability amid fluctuating market sentiments, making the current environment ripe for discovering hidden gems.

Top 10 Undiscovered Gems With Strong Fundamentals In The Middle East

Click here to see the full list of 193 stocks from our Middle Eastern Undiscovered Gems With Strong Fundamentals screener.

We’ll examine a selection from our screener results.

Abu Dhabi National Insurance Company PJSC

Simply Wall St Value Rating: ★★★★★☆

Overview: Abu Dhabi National Insurance Company PJSC offers a range of insurance and reinsurance solutions to both individual and corporate clients in the UAE and globally, with a market capitalization of AED 4.56 billion.

Operations: ADNIC generates its revenue primarily from consumer and commercial insurance segments, with AED 4.59 billion and AED 4.89 billion respectively. Net insurance finance shows a negative impact of AED 38.30 million, while investment income contributes positively with AED 296.89 million.

ADNIC, a notable player in the Middle East insurance sector, showcases a robust financial profile. With no debt over the past five years and earnings growing at 3.7% annually, it presents a compelling case for stability. Its price-to-earnings ratio stands attractively at 9.6x compared to the AE market’s 12x, indicating potential undervaluation. Recent earnings results highlight net income of AED 475 million for 2025, up from AED 417 million previously. The company announced an annual dividend of AED 0.47 per share, reinforcing its commitment to shareholder returns despite not outpacing industry growth last year.

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Delve into the full analysis health report here for a deeper understanding of Abu Dhabi National Insurance Company PJSC.

Gain insights into Abu Dhabi National Insurance Company PJSC's past trends and performance with our Past report.

ADX:ADNIC Debt to Equity as at Feb 2026

Netcad Yazilim Anonim Sirketi

Simply Wall St Value Rating: ★★★★★☆

Overview: Netcad Yazilim Anonim Sirketi is a Turkish company specializing in the development of CAD-based engineering software and GIS-focused intelligent solutions, with a market cap of TRY11.15 billion.

Operations: Netcad Yazilim Anonim Sirketi generates revenue primarily from its CAD/CAM software segment, which accounts for TRY1.32 billion. The company’s financial performance is highlighted by its focus on this core revenue stream.

Netcad Yazilim Anonim Sirketi, a burgeoning player in the software industry, recently completed an IPO valued at TRY 1.84 billion, offering 40 million shares at TRY 46 each. Over the past year, revenue surged by 23.6%, with net income reaching TRY 484.95 million for the nine months ending September 2025 compared to TRY 328.15 million previously. Despite high-quality earnings and more cash than debt, its stock remains illiquid and trades slightly below fair value estimates by about 1%. While earnings growth of 47% trails behind the industry’s pace of over 60%, Netcad’s financial health is robust with positive free cash flow trends evident from levered free cash flow figures rising to US$426 million by late September last year.

Unlock comprehensive insights into our analysis of Netcad Yazilim Anonim Sirketi stock in this health report.

Assess Netcad Yazilim Anonim Sirketi's past performance with our detailed historical performance reports.

IBSE:NETCD Earnings and Revenue Growth as at Feb 2026

Atreyu Capital Markets

Simply Wall St Value Rating: ★★★★★★

Overview: Atreyu Capital Markets Ltd is an investment holding company operating in the investment management sector in Israel, with a market capitalization of ₪1.24 billion.

Operations: Atreyu Capital Markets generates revenue primarily from its investment management segment, which amounted to ₪110.61 million. The company’s market capitalization is approximately ₪1.24 billion.

Atreyu Capital Markets, a nimble player in the Middle East’s financial landscape, showcases robust financial health with no debt and high-quality earnings. Over the past year, its earnings grew by 21.7%, although this was below the industry average of 28.7%. The company’s price-to-earnings ratio stands at 11.6x, offering potential value against the IL market’s 16.7x benchmark. Recent results highlight impressive revenue growth to ILS 30.49 million in Q3 from ILS 25.41 million last year and net income reaching ILS 29.48 million, underscoring its solid performance trajectory despite industry challenges.

Click here and access our complete health analysis report to understand the dynamics of Atreyu Capital Markets.

Learn about Atreyu Capital Markets' historical performance.

TASE:ATRY Earnings and Revenue Growth as at Feb 2026

Next Steps

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_ 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._

Companies discussed in this article include ADX:ADNIC IBSE:NETCD and TASE:ATRY.

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

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