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Moroccan (MASI) Market Analysis & Valuation
UpdatedDec 26, 2025
DataAggregated Company Financials
Companies74
- 7D1.2%
- 3M-3.8%
- 1Y29.5%
- YTD28.2%
The market has climbed 1.2% in the last 7 days, lead by the Industrials sector with a gain of 13%. The market is up 29% over the last 12 months. Earnings are forecast to grow by 14% 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 |
|---|---|---|---|---|---|---|
| Fri, 26 Dec 2025 | د.م1.0t | د.م339.8b | د.م46.2b | 23.1x | 22.2x | 3x |
| Sun, 23 Nov 2025 | د.م948.9b | د.م325.0b | د.م44.9b | 21.7x | 21.1x | 2.9x |
| Tue, 21 Oct 2025 | د.م986.8b | د.م321.7b | د.م44.5b | 22.2x | 22.2x | 3.1x |
| Thu, 18 Sep 2025 | د.م1.0t | د.م311.8b | د.م43.4b | 24.2x | 23.4x | 3.3x |
| Sat, 16 Aug 2025 | د.م1.0t | د.م311.2b | د.م43.3b | 25.5x | 23.7x | 3.3x |
| Mon, 14 Jul 2025 | د.م980.8b | د.م309.7b | د.م37.3b | 24.4x | 26.3x | 3.2x |
| Wed, 11 Jun 2025 | د.م962.4b | د.م313.4b | د.م37.4b | 24.5x | 25.8x | 3.1x |
| Fri, 09 May 2025 | د.م903.1b | د.م304.6b | د.م35.8b | 23.9x | 25.3x | 3x |
| Sun, 06 Apr 2025 | د.م881.4b | د.م299.6b | د.م34.4b | 22.5x | 25.6x | 2.9x |
| Tue, 04 Mar 2025 | د.م851.4b | د.م298.1b | د.م33.6b | 22.7x | 25.3x | 2.9x |
| Thu, 30 Jan 2025 | د.م807.7b | د.م297.1b | د.م32.8b | 23.4x | 24.6x | 2.7x |
| Sat, 28 Dec 2024 | د.م736.9b | د.م299.1b | د.م32.8b | 22.3x | 22.5x | 2.5x |
| Mon, 25 Nov 2024 | د.م747.8b | د.م294.1b | د.م32.1b | 22.4x | 23.3x | 2.5x |
| Wed, 23 Oct 2024 | د.م715.1b | د.م294.1b | د.م32.1b | 21.7x | 22.3x | 2.4x |
| Fri, 20 Sep 2024 | د.م720.6b | د.م290.4b | د.م30.2b | 24.1x | 23.9x | 2.5x |
| Sun, 18 Aug 2024 | د.م710.1b | د.م291.1b | د.م30.0b | 22.6x | 23.7x | 2.4x |
| Tue, 16 Jul 2024 | د.م686.9b | د.م290.7b | د.م34.0b | 22.1x | 20.2x | 2.4x |
| Thu, 13 Jun 2024 | د.م675.6b | د.م291.3b | د.م34.0b | 21.7x | 19.9x | 2.3x |
| Sat, 11 May 2024 | د.م691.8b | د.م289.7b | د.م32.9b | 21.8x | 21.1x | 2.4x |
| Mon, 08 Apr 2024 | د.م665.1b | د.م286.3b | د.م32.6b | 23.3x | 20.4x | 2.3x |
| Wed, 06 Mar 2024 | د.م660.7b | د.م281.3b | د.م32.3b | 23.2x | 20.5x | 2.3x |
| Fri, 02 Feb 2024 | د.م636.0b | د.م283.6b | د.م32.7b | 21.5x | 19.5x | 2.2x |
| Sun, 31 Dec 2023 | د.م617.6b | د.م282.8b | د.م32.7b | 20.6x | 18.9x | 2.2x |
| Tue, 28 Nov 2023 | د.م597.6b | د.م278.0b | د.م31.4b | 20.1x | 19.1x | 2.1x |
| Thu, 26 Oct 2023 | د.م613.0b | د.م275.4b | د.م30.1b | 20.2x | 20.4x | 2.2x |
| Sat, 23 Sep 2023 | د.م596.0b | د.م273.4b | د.م30.6b | 20.3x | 19.5x | 2.2x |
| Mon, 21 Aug 2023 | د.م609.8b | د.م264.8b | د.م29.5b | 20.5x | 20.7x | 2.3x |
| Wed, 19 Jul 2023 | د.م596.0b | د.م258.7b | د.م26.8b | 20.6x | 22.3x | 2.3x |
| Fri, 16 Jun 2023 | د.م579.0b | د.م255.8b | د.م26.6b | 20.8x | 21.7x | 2.3x |
| Sun, 14 May 2023 | د.م548.7b | د.م252.5b | د.م26.9b | 19.8x | 20.4x | 2.2x |
| Tue, 11 Apr 2023 | د.م539.7b | د.م241.1b | د.م27.1b | 17.9x | 19.9x | 2.2x |
| Thu, 09 Mar 2023 | د.م546.2b | د.م238.1b | د.م26.7b | 18.7x | 20.4x | 2.3x |
| Sat, 04 Feb 2023 | د.م534.4b | د.م234.6b | د.م27.5b | 18.6x | 19.5x | 2.3x |
| Mon, 02 Jan 2023 | د.م550.9b | د.م233.0b | د.م27.4b | 20x | 20.1x | 2.4x |
Price to Earnings Ratio
20.1x
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 21.9x.
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 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 | 1.18% | |
| Industrials | 12.97% | |
| Consumer Staples | 1.50% | |
| Materials | -0.033% | |
| Consumer Discretionary | -0.56% | |
| Energy | -0.70% | |
| Financials | -0.95% | |
| Real Estate | -1.19% | |
| Healthcare | -1.58% | |
| Telecom | -2.68% | |
| Tech | -3.77% | |
| Utilities | -4.37% | |
Sector PE
- Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 34.3x.
- 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 32.5x.
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 | |
|---|---|---|---|---|---|---|
| GTM Societe Generale Des Travaux Du Maroc | د.م899.70 | 61.0% +د.م20.4b | n/a | PE45.5x | Industrials | |
| LES Lesieur Cristal | د.م344.00 | 15.1% +د.م1.2b | 24.6% | PS1.7x | Consumer Staples | |
| SMI Societe Metallurgique d'Imiter société anonyme | د.م3.93k | 19.1% +د.م1.0b | 97.5% | PE36.2x | Materials | |
| DHO delta holding | د.م83.00 | 13.7% +د.م876.0m | 56.4% | PE26.1x | Industrials | |
| MNG Managem | د.م6.20k | 0.8% +د.م605.1m | 117.8% | PE99.2x | Materials |
