Forbes Ukraine published the ranking of the largest private companies in Ukraine based on the results of 2025. The list includes businesses that, even amid war and economic transformation, maintain high revenue volumes, financial stability, and the ability to adapt to crisis challenges. This is reported by InVenture.
The ranking '202 Largest Private Companies in Ukraine 2025', prepared by Forbes Ukraine, covers key sectors of the economy—from agriculture and energy to IT, logistics, and retail. These companies form the economic backbone of the country in 2024-2026.
Largest Companies in Ukraine in 2025: Forbes Ranking Leaders
The ranking is topped by businesses with the highest turnover and market influence:
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«Metinvest» — first place in revenue with a figure of 323.2 billion UAH, despite being unprofitable, the company remains a key player in metallurgy and extraction;
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DTEK — the second company in terms of revenue, which showed revenue growth in the first half of 2025;
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ATB — the leader in retail with a profitable model and stable development;
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Kernel, Fozzy Group, MHP — large players in the agro-industrial complex and retail, confirming the strategic role of these sectors for the economy.
Forbes Ranking 2025: Industry Structure and Key Trends
The most represented in the ranking were:
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retail and wholesale trade — 91 companies, indicating the preservation of domestic demand;
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agro-industrial complex — 57 companies, which affirm the strong positions of agriculture and processing;
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IT sector — 12 companies demonstrating the growth of Ukraine's technological potential.
Analysts note that the average revenue growth of large companies in the first half of 2025 was about 16%. Despite challenging conditions, a significant portion of businesses not only maintained their operational scale but also expanded. Companies in the TOP-200 provide over 750,000 jobs, playing a critical role in employment and the stability of Ukraine's economy.
Previously, we presented the top-3 employers in retail of Ukraine for 2025.