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Moroccan (MASI) Market Analysis & Valuation
UpdatedJan 18, 2026
DataAggregated Company Financials
Companies75
- 7D-0.8%
- 3M3.1%
- 1Y22.0%
- YTD0.8%
In the last week, the market has stayed flat, however the Materials sector stood out, gaining 3.6%. As for the longer term, the market has risen 22% in the past 12 months. Looking forward, earnings are forecast to grow by 15% 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 |
|---|---|---|---|---|---|---|
| Mon, 19 Jan 2026 | د.م1.1t | د.م341.4b | د.م46.4b | 23.6x | 22.7x | 3.1x |
| Wed, 17 Dec 2025 | د.م1.0t | د.م325.7b | د.م45.0b | 22.8x | 22.3x | 3.1x |
| Fri, 14 Nov 2025 | د.م975.0b | د.م324.9b | د.م44.8b | 23.2x | 21.8x | 3x |
| Sun, 12 Oct 2025 | د.م966.1b | د.م317.9b | د.م44.4b | 21.9x | 21.8x | 3x |
| Tue, 09 Sep 2025 | د.م1.0t | د.م311.2b | د.م43.4b | 25.5x | 24x | 3.3x |
| Thu, 07 Aug 2025 | د.م1.0t | د.م311.2b | د.م43.3b | 24.3x | 23.6x | 3.3x |
| Sat, 05 Jul 2025 | د.م962.8b | د.م309.7b | د.م37.3b | 24.1x | 25.8x | 3.1x |
| Mon, 02 Jun 2025 | د.م929.9b | د.م309.7b | د.م36.9b | 24.6x | 25.2x | 3x |
| Wed, 30 Apr 2025 | د.م890.3b | د.م293.0b | د.م33.2b | 23x | 26.9x | 3x |
| Fri, 28 Mar 2025 | د.م900.3b | د.م298.9b | د.م34.5b | 24x | 26.1x | 3x |
| Sun, 23 Feb 2025 | د.م849.8b | د.م297.8b | د.م33.6b | 24.2x | 25.3x | 2.9x |
| Tue, 21 Jan 2025 | د.م800.0b | د.م297.1b | د.م32.8b | 23.8x | 24.4x | 2.7x |
| Thu, 19 Dec 2024 | د.م744.7b | د.م299.1b | د.م32.8b | 22.5x | 22.7x | 2.5x |
| Sat, 16 Nov 2024 | د.م746.7b | د.م294.1b | د.م32.1b | 22.7x | 23.3x | 2.5x |
| Mon, 14 Oct 2024 | د.م716.0b | د.م294.1b | د.م32.1b | 22.1x | 22.3x | 2.4x |
| Wed, 11 Sep 2024 | د.م710.9b | د.م291.1b | د.م30.1b | 23.2x | 23.6x | 2.4x |
| Fri, 09 Aug 2024 | د.م705.1b | د.م291.1b | د.م30.0b | 22.4x | 23.5x | 2.4x |
| Sun, 07 Jul 2024 | د.م684.4b | د.م290.7b | د.م34.0b | 22x | 20.2x | 2.4x |
| Tue, 04 Jun 2024 | د.م680.7b | د.م288.7b | د.م33.0b | 22.3x | 20.6x | 2.4x |
| Thu, 02 May 2024 | د.م682.3b | د.م290.7b | د.م33.2b | 22.4x | 20.5x | 2.3x |
| Sat, 30 Mar 2024 | د.م660.5b | د.م280.7b | د.م32.1b | 23x | 20.6x | 2.4x |
| Mon, 26 Feb 2024 | د.م665.1b | د.م282.7b | د.م32.6b | 22.9x | 20.4x | 2.4x |
| Wed, 24 Jan 2024 | د.م651.6b | د.م283.1b | د.م32.7b | 21.8x | 19.9x | 2.3x |
| Fri, 22 Dec 2023 | د.م621.0b | د.م282.9b | د.م32.0b | 20.3x | 19.4x | 2.2x |
| Sun, 19 Nov 2023 | د.م602.7b | د.م275.7b | د.م30.2b | 20.2x | 20x | 2.2x |
| Tue, 17 Oct 2023 | د.م617.0b | د.م275.0b | د.م29.7b | 20.6x | 20.7x | 2.2x |
| Thu, 14 Sep 2023 | د.م596.5b | د.م270.1b | د.م29.9b | 20x | 20x | 2.2x |
| Sat, 12 Aug 2023 | د.م612.8b | د.م259.6b | د.م29.2b | 21.3x | 21x | 2.4x |
| Mon, 10 Jul 2023 | د.م590.7b | د.م258.7b | د.م26.8b | 20.7x | 22.1x | 2.3x |
| Wed, 07 Jun 2023 | د.م561.9b | د.م255.5b | د.م26.6b | 21.2x | 21.1x | 2.2x |
| Fri, 05 May 2023 | د.م532.6b | د.م251.3b | د.م27.0b | 19.5x | 19.7x | 2.1x |
| Sun, 02 Apr 2023 | د.م534.3b | د.م239.6b | د.م26.8b | 18.2x | 19.9x | 2.2x |
| Tue, 28 Feb 2023 | د.م559.5b | د.م234.8b | د.م26.6b | 19.8x | 21x | 2.4x |
| Thu, 26 Jan 2023 | د.م533.2b | د.م234.0b | د.م27.4b | 18.5x | 19.4x | 2.3x |
Price to Earnings Ratio
19.4x
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 22.0x.
Past Earnings Growth
- The earnings for Moroccan listed companies have grown 19% per year over the last three years.
- Revenues for these companies have grown 14% 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 | -1.66% | |
| Energy | 2.44% | |
| Utilities | -0.95% | |
| Consumer Discretionary | -1.02% | |
| Financials | -1.12% | |
| Healthcare | -1.18% | |
| Materials | -1.25% | |
| Consumer Staples | -1.55% | |
| Tech | -1.97% | |
| Real Estate | -1.98% | |
| Telecom | -2.59% | |
| Industrials | -3.30% | |
Sector PE
- Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 35.0x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 11.6% which is higher than its past year's earnings decline of 12.8% per year.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 32.3x.
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 8.6% 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 | |
|---|---|---|---|---|---|---|
| SMI Societe Metallurgique d'Imiter société anonyme | د.م5.45k | 5.4% +د.م459.0m | 151.4% | PE50.2x | Materials | |
| GAZ Afriquia Gaz | د.م4.20k | 2.4% +د.م343.8m | 9.4% | PE18.9x | Energy | |
| OUL Les Eaux Minérales d'Oulmès | د.م1.25k | 5.8% +د.م136.6m | -3.5% | PE37.7x | Consumer Staples | |
| CMT Compagnie Minière de Touissit | د.م1.98k | 4.3% +د.م136.2m | 15.8% | PS5.1x | Materials | |
| EQD Societe d'Equipement Domestique et Menager (EQDOM) | د.م1.40k | 3.3% +د.م75.2m | n/a | PS1.4x | Financials |
