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Moroccan (MASI) Market Analysis & Valuation
UpdatedApr 06, 2026
DataAggregated Company Financials
Companies75
- 7D2.1%
- 3M-8.1%
- 1Y6.8%
- YTD-6.8%
The market is up 2.1% over the last week, with the Materials sector leading the way, up 12%. On the other hand, with a decline of 3.3%, the Communication Services sector is lagging behind. As for the past 12 months, the market is up 6.8%. Looking forward, earnings are forecast to grow by 20% 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 |
|---|---|---|---|---|---|---|
| Tue, 07 Apr 2026 | د.م974.5b | د.م344.6b | د.م47.0b | 20.8x | 20.7x | 2.8x |
| Thu, 05 Mar 2026 | د.م924.8b | د.م341.8b | د.م46.3b | 20.3x | 20x | 2.7x |
| Sat, 31 Jan 2026 | د.م1.0t | د.م341.5b | د.م46.4b | 23x | 22.2x | 3x |
| Mon, 29 Dec 2025 | د.م1.0t | د.م339.8b | د.م46.2b | 22.9x | 21.7x | 3x |
| Wed, 26 Nov 2025 | د.م955.7b | د.م325.0b | د.م44.9b | 22.1x | 21.3x | 2.9x |
| Fri, 24 Oct 2025 | د.م1.0t | د.م321.8b | د.م44.5b | 21.9x | 22.6x | 3.1x |
| Sun, 21 Sep 2025 | د.م1.0t | د.م311.5b | د.م43.3b | 24.9x | 23.9x | 3.3x |
| Tue, 19 Aug 2025 | د.م1.0t | د.م311.2b | د.م43.3b | 25.5x | 23.6x | 3.3x |
| Thu, 17 Jul 2025 | د.م973.9b | د.م309.7b | د.م37.3b | 24.2x | 26.1x | 3.1x |
| Sat, 14 Jun 2025 | د.م951.1b | د.م313.4b | د.م37.4b | 24.2x | 25.4x | 3x |
| Mon, 12 May 2025 | د.م913.7b | د.م312.9b | د.م36.2b | 23.8x | 25.2x | 2.9x |
| Wed, 09 Apr 2025 | د.م843.3b | د.م299.6b | د.م34.4b | 22.4x | 24.5x | 2.8x |
| Fri, 07 Mar 2025 | د.م838.9b | د.م300.5b | د.م34.2b | 22.5x | 24.5x | 2.8x |
| Sun, 02 Feb 2025 | د.م817.2b | د.م297.1b | د.م32.8b | 23.6x | 24.9x | 2.8x |
| Tue, 31 Dec 2024 | د.م740.1b | د.م297.0b | د.م32.8b | 22.8x | 22.6x | 2.5x |
| Thu, 28 Nov 2024 | د.م746.6b | د.م294.1b | د.م32.2b | 21.9x | 23.2x | 2.5x |
| Sat, 26 Oct 2024 | د.م719.0b | د.م294.1b | د.م32.1b | 21.8x | 22.4x | 2.4x |
| Mon, 23 Sep 2024 | د.م724.0b | د.م290.4b | د.م30.2b | 24.3x | 24x | 2.5x |
| Wed, 21 Aug 2024 | د.م711.3b | د.م291.2b | د.م30.0b | 23.1x | 23.7x | 2.4x |
| Fri, 19 Jul 2024 | د.م693.7b | د.م290.7b | د.م34.0b | 21.9x | 20.4x | 2.4x |
| Sun, 16 Jun 2024 | د.م673.5b | د.م291.3b | د.م34.0b | 22.2x | 19.8x | 2.3x |
| Tue, 14 May 2024 | د.م691.9b | د.م290.3b | د.م33.0b | 22.1x | 21x | 2.4x |
| Thu, 11 Apr 2024 | د.م675.0b | د.م286.3b | د.م32.6b | 22.4x | 20.7x | 2.4x |
| Sat, 09 Mar 2024 | د.م655.7b | د.م281.3b | د.م32.3b | 22.3x | 20.3x | 2.3x |
| Mon, 05 Feb 2024 | د.م635.5b | د.م283.7b | د.م32.7b | 21.8x | 19.5x | 2.2x |
| Wed, 03 Jan 2024 | د.م619.9b | د.م282.8b | د.م32.7b | 20.9x | 19x | 2.2x |
| Fri, 01 Dec 2023 | د.م594.7b | د.م278.0b | د.م31.4b | 20.2x | 19x | 2.1x |
| Sun, 29 Oct 2023 | د.م605.0b | د.م275.4b | د.م30.1b | 20.8x | 20.1x | 2.2x |
| Tue, 26 Sep 2023 | د.م597.9b | د.م273.4b | د.م30.6b | 20.4x | 19.5x | 2.2x |
| Thu, 24 Aug 2023 | د.م604.2b | د.م264.7b | د.م29.4b | 20.8x | 20.5x | 2.3x |
| Sat, 22 Jul 2023 | د.م601.9b | د.م258.7b | د.م26.8b | 21x | 22.5x | 2.3x |
| Mon, 19 Jun 2023 | د.م583.5b | د.م263.1b | د.م27.1b | 21x | 21.6x | 2.2x |
| Wed, 17 May 2023 | د.م551.0b | د.م252.5b | د.م26.9b | 19.8x | 20.5x | 2.2x |
| Fri, 14 Apr 2023 | د.م537.6b | د.م241.1b | د.م27.1b | 17.8x | 19.9x | 2.2x |
Price to Earnings Ratio
19.9x
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 22.1x.
Past Earnings Growth
- The earnings for Moroccan listed companies have grown 20% per year over the last three years.
- Revenues for these companies have grown 13% 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 | 2.12% | |
| Materials | 11.57% | |
| Real Estate | 2.72% | |
| Tech | 2.20% | |
| Consumer Discretionary | 1.87% | |
| Utilities | 1.69% | |
| Industrials | 0.47% | |
| Consumer Staples | 0.27% | |
| Energy | 0% | 0 |
| Financials | -0.45% | |
| Healthcare | -1.81% | |
| Telecom | -3.26% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 34.8x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 46.1%, which is higher than its past year's earnings growth of 24.3% per year.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 31.4x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 53% over the next 5 years.
- This is better than its past earnings growth rate of 20% per year.
- In contrast, the Telecom sector is expected to see its earnings decline by 7.5% 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 | |
|---|---|---|---|---|---|---|
| MNG Managem | د.م10.75k | 26.4% +د.م26.7b | 126.2% | PE171.9x | Materials | |
| SMI Societe Metallurgique d'Imiter société anonyme | د.م7.70k | 27.5% +د.م2.7b | 287.7% | PE70.9x | Materials | |
| CMT Compagnie Minière de Touissit | د.م4.29k | 22.5% +د.م1.3b | 171.5% | PS11.1x | Materials | |
| GTM Societe Generale des Travaux du Maroc | د.م717.00 | 2.2% +د.م924.0m | n/a | PE36.3x | Industrials | |
| ADH Douja Promotion Groupe Addoha | د.م31.50 | 6.8% +د.م799.7m | -19.8% | PE35.8x | Real Estate |
