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Moroccan (MASI) Market Analysis & Valuation

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies72
  • 7D-1.3%
  • 3M10.4%
  • 1Y39.7%
  • YTD33.5%

Over the past 7 days, the market has dropped 1.3% with the Industrials sector contributing the most to the decline. In contrast to the last week, the market is actually up 40% over the past year. Looking forward, earnings are forecast to grow by 12% annually.

Market Valuation and Performance

Has the Moroccan Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Sep 2025د.م1.0tد.م311.8bد.م43.4b24.2x23.4x3.3x
Sun, 17 Aug 2025د.م1.0tد.م311.2bد.م43.3b25.5x23.7x3.3x
Tue, 15 Jul 2025د.م977.7bد.م309.7bد.م37.3b24.4x26.2x3.2x
Thu, 12 Jun 2025د.م963.7bد.م313.4bد.م37.4b24.5x25.8x3.1x
Sat, 10 May 2025د.م913.7bد.م311.6bد.م36.0b23.8x25.4x2.9x
Mon, 07 Apr 2025د.م881.4bد.م299.6bد.م34.4b22.5x25.6x2.9x
Wed, 05 Mar 2025د.م847.4bد.م299.9bد.م34.2b22.7x24.8x2.8x
Fri, 31 Jan 2025د.م807.7bد.م297.1bد.م32.8b24x24.6x2.7x
Sun, 29 Dec 2024د.م736.9bد.م299.1bد.م32.8b22.3x22.5x2.5x
Tue, 26 Nov 2024د.م739.7bد.م294.1bد.م32.1b22.1x23x2.5x
Thu, 24 Oct 2024د.م716.7bد.م294.1bد.م32.1b21.4x22.3x2.4x
Sat, 21 Sep 2024د.م724.0bد.م290.4bد.م30.2b24.3x24x2.5x
Mon, 19 Aug 2024د.م710.1bد.م291.1bد.م30.0b22.6x23.7x2.4x
Wed, 17 Jul 2024د.م688.2bد.م290.7bد.م34.0b22.1x20.3x2.4x
Fri, 14 Jun 2024د.م674.3bد.م291.3bد.م34.0b22.1x19.8x2.3x
Sun, 12 May 2024د.م691.8bد.م289.7bد.م32.9b21.8x21.1x2.4x
Tue, 09 Apr 2024د.م669.4bد.م286.3bد.م32.6b23.3x20.5x2.3x
Thu, 07 Mar 2024د.م657.6bد.م281.3bد.م32.3b23.2x20.4x2.3x
Sat, 03 Feb 2024د.م635.5bد.م283.7bد.م32.7b21.8x19.5x2.2x
Mon, 01 Jan 2024د.م617.6bد.م282.8bد.م32.7b20.6x18.9x2.2x
Wed, 29 Nov 2023د.م594.5bد.م278.0bد.م31.4b20.1x19x2.1x
Fri, 27 Oct 2023د.م607.4bد.م275.4bد.م30.1b20.3x20.2x2.2x
Sun, 24 Sep 2023د.م596.0bد.م273.4bد.م30.6b20.3x19.5x2.2x
Tue, 22 Aug 2023د.م609.8bد.م264.8bد.م29.5b20.5x20.7x2.3x
Thu, 20 Jul 2023د.م596.0bد.م258.7bد.م26.8b20.6x22.3x2.3x
Sat, 17 Jun 2023د.م583.5bد.م256.3bد.م26.9b20.9x21.7x2.3x
Mon, 15 May 2023د.م548.7bد.م252.5bد.م26.9b19.8x20.4x2.2x
Wed, 12 Apr 2023د.م539.5bد.م241.1bد.م27.1b17.8x19.9x2.2x
Fri, 10 Mar 2023د.م544.6bد.م239.0bد.م26.9b18.7x20.2x2.3x
Sun, 05 Feb 2023د.م534.4bد.م234.6bد.م27.5b18.6x19.5x2.3x
Tue, 03 Jan 2023د.م550.9bد.م233.0bد.م27.4b20x20.1x2.4x
Thu, 01 Dec 2022د.م554.3bد.م257.2bد.م28.0b19.3x19.8x2.2x
Sat, 29 Oct 2022د.م550.9bد.م256.5bد.م27.7b20.2x19.9x2.1x
Mon, 26 Sep 2022د.م622.5bد.م246.7bد.م27.0b24.3x23x2.5x
Price to Earnings Ratio

23x


Total Market Cap: د.م622.5bTotal Earnings: د.م27.0bTotal Revenue: د.م246.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Moroccan Market Price to Earnings3Y Average 21.8x202320242025
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 21.8x.
Past Earnings Growth
  • The earnings for Moroccan listed companies have grown 17% per year over the last three years.
  • Revenues for these companies have grown 8.1% 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-1.27%
Tech1.89%
Real Estate0.10%
Energy-0.18%
Healthcare-0.49%
Financials-0.58%
Materials-0.71%
Telecom-1.96%
Consumer Discretionary-2.00%
Industrials-2.22%
Consumer Staples-2.63%
Utilities-3.68%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 31.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 9.3% which is higher than its past year's earnings decline of 2.2% per year.
  • The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 33.6x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 37% over the next 5 years.
  • This is better than its past earnings growth rate of 18% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 6.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
MNG Managemد.م6.00k3.4%
+د.م2.3b		112.8%PE114.9xMaterials
MSA Société d'Exploitation des Portsد.م995.001.5%
+د.م1.1b		142.7%PE57.6xIndustrials
BOA Bank of Africaد.م257.000.8%
+د.م431.6m		34.5%PB1.9xFinancials
RDS Résidences Dar Saadaد.م184.005.7%
+د.م262.1m		143.9%PS35.5xReal Estate
CMT Compagnie Minière de Touissitد.م2.85k5.5%
+د.م248.8m		70.4%PS8.2xMaterials
See more

Market Insights

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🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast
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Richard Bowman
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It’s been a while since we checked in on commodity markets, which, like other markets, are having quite the interesting year. In particular, gold continues its march upward, while oil remains in a slump. As for the rest, most have been up and down and ended up close to where they were a year ago. By the end, you’ll see why gold stocks still look cheap despite these record prices — and why oil stocks, oddly enough, look expensive even as crude declines.
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🥇 Gold Breaks Records While Oil Sinks: Commodities 2025 in Contrast
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Latest News

TQM
د.م2,700.00
TAQA Morocco
7D
-4.5%
1Y
105.8%
TGC
د.م980.00
Travaux Généraux de Construction de Casablanca
7D
-3.0%
1Y
151.3%
CMT
د.م2,848.00
Compagnie Minière de Touissit
7D
5.5%
1Y
70.4%
CMA
د.م1,969.00
Ciments du Maroc Société Anonyme
7D
-1.6%
1Y
7.0%
IAM
د.م122.40
Itissalat Al-Maghrib (IAM)
7D
-0.5%
1Y
35.3%
ADI
د.م525.00
Alliances Developpement Immobilier
7D
-2.8%
1Y
65.6%
RDS
د.م184.00
Résidences Dar Saada
7D
5.7%
1Y
143.9%
SOT
د.م1,928.00
Société de Therapeutique Marocaine
7D
1.5%
1Y
92.8%
CSR
د.م220.10
Cosumar
7D
-3.0%
1Y
14.6%
LBV
د.م4,794.00
Label Vie
7D
-2.0%
1Y
6.5%
MSA
د.م995.00
Société d'Exploitation des Ports
7D
1.5%
1Y
142.7%
BOA
د.م257.00
Bank of Africa
7D
0.8%
1Y
34.5%
MNG
د.م6,000.00
Managem
7D
3.4%
1Y
112.8%
LES
د.م281.80
Lesieur Cristal
7D
2.5%
1Y
2.5%
CFG
د.م255.00
CFG Bank
7D
2.0%
1Y
33.5%
LHM
د.م1,938.00
LafargeHolcim Maroc
7D
-3.7%
1Y
2.3%