Moroccan (MASI) Market Analysis & Valuation
UpdatedMay 22, 2024
DataAggregated Company Financials
Companies69
- 7D-0.4%
- 3M4.2%
- 1Y23.6%
- YTD10.6%
Over the last 7 days, the market has remained flat, although notably the Real Estate sector declined by 3.9%. Meanwhile, the market is actually up 24% over the past year. Looking forward, earnings are forecast to grow by 13% annually.
Market Valuation and Performance
Has the Moroccan Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 23 May 2024 | د.م687.3b | د.م288.7b | د.م33.0b | 21.8x | 20.8x | 2.4x |
| Sat, 20 Apr 2024 | د.م686.0b | د.م289.7b | د.م32.8b | 23.4x | 20.9x | 2.4x |
| Mon, 18 Mar 2024 | د.م662.9b | د.م281.9b | د.م32.6b | 22x | 20.4x | 2.4x |
| Wed, 14 Feb 2024 | د.م643.2b | د.م283.6b | د.م32.6b | 22.3x | 19.7x | 2.3x |
| Fri, 12 Jan 2024 | د.م637.4b | د.م283.1b | د.م32.7b | 21.5x | 19.5x | 2.3x |
| Sun, 10 Dec 2023 | د.م601.3b | د.م278.1b | د.م31.2b | 20.5x | 19.3x | 2.2x |
| Tue, 07 Nov 2023 | د.م604.8b | د.م275.7b | د.م30.2b | 20.3x | 20x | 2.2x |
| Thu, 05 Oct 2023 | د.م596.9b | د.م272.4b | د.م29.7b | 20.3x | 20.1x | 2.2x |
| Sat, 02 Sep 2023 | د.م604.8b | د.م270.2b | د.م29.9b | 20.1x | 20.3x | 2.2x |
| Mon, 31 Jul 2023 | د.م616.2b | د.م259.6b | د.م29.2b | 20.6x | 21.1x | 2.4x |
| Wed, 28 Jun 2023 | د.م586.4b | د.م263.3b | د.م27.1b | 20.2x | 21.6x | 2.2x |
| Fri, 26 May 2023 | د.م550.9b | د.م255.9b | د.م26.6b | 20.9x | 20.7x | 2.2x |
| Sun, 23 Apr 2023 | د.م537.6b | د.م251.3b | د.م27.6b | 17.9x | 19.5x | 2.1x |
| Tue, 21 Mar 2023 | د.م531.9b | د.م237.9b | د.م26.7b | 18.5x | 19.9x | 2.2x |
| Thu, 16 Feb 2023 | د.م544.3b | د.م234.6b | د.م27.5b | 19.2x | 19.8x | 2.3x |
| Sat, 14 Jan 2023 | د.م532.1b | د.م233.3b | د.م27.4b | 18.3x | 19.4x | 2.3x |
| Mon, 12 Dec 2022 | د.م570.6b | د.م257.6b | د.م28.1b | 20.2x | 20.3x | 2.2x |
| Wed, 09 Nov 2022 | د.م546.5b | د.م257.0b | د.م27.9b | 19.7x | 19.6x | 2.1x |
| Fri, 07 Oct 2022 | د.م596.7b | د.م250.3b | د.م28.3b | 21.6x | 21.1x | 2.4x |
| Sun, 04 Sep 2022 | د.م616.1b | د.م244.6b | د.م26.8b | 24.4x | 23x | 2.5x |
| Tue, 02 Aug 2022 | د.م602.5b | د.م244.6b | د.م26.8b | 23x | 22.5x | 2.5x |
| Thu, 30 Jun 2022 | د.م613.3b | د.م246.4b | د.م28.7b | 23.5x | 21.4x | 2.5x |
| Sat, 28 May 2022 | د.م625.0b | د.م243.6b | د.م28.3b | 23x | 22.1x | 2.6x |
| Mon, 25 Apr 2022 | د.م665.1b | د.م236.5b | د.م27.1b | 24.3x | 24.5x | 2.8x |
| Wed, 23 Mar 2022 | د.م653.0b | د.م235.8b | د.م26.8b | 23.8x | 24.4x | 2.8x |
| Fri, 18 Feb 2022 | د.م699.4b | د.م235.7b | د.م26.4b | 25.5x | 26.5x | 3x |
| Sun, 16 Jan 2022 | د.م697.6b | د.م235.7b | د.م26.4b | 25.7x | 26.4x | 3x |
| Tue, 14 Dec 2021 | د.م674.1b | د.م236.5b | د.م26.4b | 24.4x | 25.6x | 2.8x |
| Thu, 11 Nov 2021 | د.م676.5b | د.م234.4b | د.م25.8b | 25.2x | 26.2x | 2.9x |
| Sat, 09 Oct 2021 | د.م667.0b | د.م232.1b | د.م25.2b | 26.2x | 26.5x | 2.9x |
| Mon, 06 Sep 2021 | د.م641.1b | د.م224.9b | د.م20.7b | 30.5x | 30.9x | 2.9x |
| Wed, 04 Aug 2021 | د.م627.4b | د.م224.8b | د.م20.8b | 31x | 30.1x | 2.8x |
Price to Earnings Ratio
30.7x
Current Market PE
- Investors are relatively neutral on the Moroccan market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 22.8x.
Past Earnings Growth
- The earnings for Moroccan listed companies have grown 18% per year over the last three years.
- Revenues for these companies have grown 8.8% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Moroccan Market?
| MA Market | -0.37% | |
| Materials | 2.94% | |
| Consumer Staples | 0.021% | |
| Financials | -0.15% | |
| Healthcare | -0.16% | |
| Energy | -0.24% | |
| Industrials | -0.54% | |
| Consumer Discretionary | -0.94% | |
| Tech | -2.21% | |
| Telecom | -3.01% | |
| Utilities | -3.73% | |
| Real Estate | -3.94% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 24.8x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 40.4% which is higher than its past year's earnings decline of 45.3% per year.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 21.2x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 40% over the next 5 years.
- This is better than its past earnings decline of 45% per year.
- In contrast, the Utilities sector is expected to see its earnings decline by 2.5% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| CMA Ciments du Maroc Société Anonyme | د.م1.87k | 4.5% +د.م1.2b | 36.0% | PE27.8x | Materials | |
| ATW Attijariwafa bank | د.م514.90 | 1.0% +د.م989.4m | 21.6% | PB1.8x | Financials | |
| MNG Managem | د.م2.40k | 2.6% +د.م711.9m | 4.7% | PE55.4x | Materials | |
| BOA Bank of Africa | د.م197.00 | 1.5% +د.م637.7m | 20.8% | PB1.6x | Financials | |
| SMI Societe Metallurgique d'Imiter société anonyme | د.م2.40k | 17.0% +د.م572.5m | 85.4% | n/a | Materials |
