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Moroccan (MASI) Market Analysis & Valuation

UpdatedFeb 25, 2026
DataAggregated Company Financials
Companies75
  • 7D-0.7%
  • 3M-0.3%
  • 1Y10.7%
  • YTD-2.6%

Over the last 7 days, the market has remained flat, although notably the Utilities sector declined by 3.1%. As for the longer term, the market has risen 11% in the past 12 months. Earnings are forecast to grow by 18% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Feb 2026د.م1.0tد.م342.5bد.م46.2b21.9x22x3x
Fri, 23 Jan 2026د.م1.0tد.م341.5bد.م46.4b23.5x22.2x3x
Sun, 21 Dec 2025د.م1.0tد.م325.7bد.م45.0b22.6x22.7x3.1x
Tue, 18 Nov 2025د.م961.7bد.م325.1bد.م44.9b22.7x21.4x3x
Thu, 16 Oct 2025د.م949.4bد.م321.7bد.م44.5b21.6x21.4x3x
Sat, 13 Sep 2025د.م1.0tد.م311.8bد.م43.4b24.8x23.7x3.3x
Mon, 11 Aug 2025د.م1.0tد.م311.2bد.م43.3b24.5x23.7x3.3x
Wed, 09 Jul 2025د.م972.9bد.م309.7bد.م37.3b24.7x26.1x3.1x
Fri, 06 Jun 2025د.م967.6bد.م313.2bد.م37.3b24.6x26x3.1x
Sun, 04 May 2025د.م898.7bد.م294.8bد.م33.2b23.7x27.1x3x
Tue, 01 Apr 2025د.م909.7bد.م299.4bد.م34.6b23.7x26.3x3x
Thu, 27 Feb 2025د.م864.2bد.م298.1bد.م33.6b23.2x25.7x2.9x
Sat, 25 Jan 2025د.م795.8bد.م297.1bد.م32.8b23.2x24.3x2.7x
Mon, 23 Dec 2024د.م742.5bد.م299.1bد.م32.8b22.1x22.6x2.5x
Wed, 20 Nov 2024د.م751.7bد.م294.1bد.م32.1b22.7x23.4x2.6x
Fri, 18 Oct 2024د.م717.6bد.م294.1bد.م32.1b21.6x22.3x2.4x
Sun, 15 Sep 2024د.م712.0bد.م290.4bد.م30.2b24x23.6x2.5x
Tue, 13 Aug 2024د.م703.8bد.م291.1bد.م30.0b22.4x23.5x2.4x
Thu, 11 Jul 2024د.م684.8bد.م290.7bد.م34.0b22.1x20.2x2.4x
Sat, 08 Jun 2024د.م674.7bد.م290.4bد.م33.9b21.9x19.9x2.3x
Mon, 06 May 2024د.م687.9bد.م291.1bد.م33.1b21.7x20.8x2.4x
Wed, 03 Apr 2024د.م662.4bد.م282.3bد.م32.5b23.7x20.4x2.3x
Fri, 01 Mar 2024د.م662.7bد.م282.7bد.م32.6b22.4x20.3x2.3x
Sun, 28 Jan 2024د.م645.7bد.م283.6bد.م32.7b21.7x19.7x2.3x
Tue, 26 Dec 2023د.م619.2bد.م282.8bد.م32.0b20.6x19.3x2.2x
Thu, 23 Nov 2023د.م605.6bد.م276.7bد.م30.7b20x19.7x2.2x
Sat, 21 Oct 2023د.م617.5bد.م275.0bد.م29.7b20.6x20.8x2.2x
Mon, 18 Sep 2023د.م597.2bد.م271.7bد.م30.7b20x19.4x2.2x
Wed, 16 Aug 2023د.م613.6bد.م264.8bد.م29.5b21.1x20.8x2.3x
Fri, 14 Jul 2023د.م586.2bد.م258.7bد.م26.8b20.6x21.9x2.3x
Sun, 11 Jun 2023د.م563.1bد.م255.5bد.م26.6b21.1x21.2x2.2x
Tue, 09 May 2023د.م532.3bد.م252.8bد.م27.3b19.2x19.5x2.1x
Thu, 06 Apr 2023د.م539.0bد.م239.6bد.م26.8b18.2x20.1x2.2x
Sat, 04 Mar 2023د.م552.2bد.م238.1bد.م26.7b19.1x20.6x2.3x
Price to Earnings Ratio

20.6x


Total Market Cap: د.م552.2bTotal Earnings: د.م26.7bTotal Revenue: د.م238.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Moroccan Market Price to Earnings3Y Average 22.1x202420252026
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-0.70%
Healthcare1.65%
Consumer Discretionary0.57%
Materials0.27%
Real Estate0.093%
Consumer Staples0.0056%
Financials-0.27%
Energy-1.15%
Tech-1.34%
Industrials-1.97%
Telecom-2.64%
Utilities-3.08%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 36.0x.
    • 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 32.0x.
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 7.4% 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
SMI Societe Metallurgique d'Imiter société anonymeد.م6.26k17.0%
+د.م1.5b		123.6%PE57.7xMaterials
LES Lesieur Cristalد.م360.008.4%
+د.م773.7m		29.9%PS1.8xConsumer Staples
BOA Bank of Africaد.م218.051.6%
+د.م737.9m		11.3%PB1.5xFinancials
AKT Akditalد.م1.17k3.6%
+د.م566.4m		-1.9%PE41.7xHealthcare
TMA TotalEnergies Marketing Marocد.م1.67k2.3%
+د.م340.5m		3.7%PE17.5xConsumer Discretionary
See more

Market Insights

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SMI
د.م6,261.00
Societe Metallurgique d'Imiter société anonyme
7D
17.0%
1Y
123.6%
IAM
د.م103.10
Itissalat Al-Maghrib (IAM)
7D
-2.6%
1Y
-5.9%
TQM
د.م1,919.00
TAQA Morocco
7D
-3.1%
1Y
16.3%
LBV
د.م4,050.00
Label Vie
7D
-3.6%
1Y
-3.6%
MSA
د.م889.00
Société d'Exploitation des Ports
7D
-2.6%
1Y
26.7%
TGC
د.م825.50
Travaux Généraux de Construction de Casablanca
7D
-2.8%
1Y
17.9%
RDS
د.م161.50
Résidences Dar Saada
7D
4.2%
1Y
24.2%
TMA
د.م1,668.00
TotalEnergies Marketing Maroc
7D
2.3%
1Y
3.7%
AKT
د.م1,166.00
Akdital
7D
3.6%
1Y
-1.9%
BOA
د.م218.05
Bank of Africa
7D
1.6%
1Y
11.3%
BCP
د.م271.00
Banque Centrale Populaire
7D
-1.1%
1Y
-3.2%
WAA
د.م4,998.00
Wafa Assurance
7D
1.0%
1Y
11.3%
CMA
د.م1,769.00
Ciments du Maroc Société Anonyme
7D
-1.7%
1Y
-6.9%
LHM
د.م1,781.00
LafargeHolcim Maroc
7D
-1.1%
1Y
-6.4%
LES
د.م360.00
Lesieur Cristal
7D
8.4%
1Y
29.9%