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Moroccan (MASI) Market Analysis & Valuation
UpdatedApr 03, 2026
DataAggregated Company Financials
Companies75
- 7D1.1%
- 3M-7.0%
- 1Y2.8%
- YTD-6.9%
The market has climbed 1.1% in the last 7 days, lead by the Materials sector with a gain of 5.5%. As for last year, the market performance has been flat. As for the next few years, earnings are expected to grow by 19% per annum.
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, 03 Apr 2026 | د.م972.8b | د.م343.0b | د.م46.8b | 21.2x | 20.8x | 2.8x |
| Sun, 01 Mar 2026 | د.م1.0t | د.م341.6b | د.م46.3b | 21.1x | 21.6x | 2.9x |
| Tue, 27 Jan 2026 | د.م1.0t | د.م341.5b | د.م46.4b | 22.9x | 21.8x | 3x |
| Thu, 25 Dec 2025 | د.م1.0t | د.م325.7b | د.م45.0b | 23x | 22.9x | 3.2x |
| Sat, 22 Nov 2025 | د.م948.9b | د.م325.0b | د.م44.9b | 21.7x | 21.1x | 2.9x |
| Mon, 20 Oct 2025 | د.م961.6b | د.م321.7b | د.م44.5b | 22.1x | 21.6x | 3x |
| Wed, 17 Sep 2025 | د.م1.0t | د.م311.8b | د.م43.4b | 24.2x | 23.5x | 3.3x |
| Fri, 15 Aug 2025 | د.م1.0t | د.م311.2b | د.م43.3b | 25.2x | 23.7x | 3.3x |
| Sun, 13 Jul 2025 | د.م980.8b | د.م309.7b | د.م37.3b | 24.4x | 26.3x | 3.2x |
| Tue, 10 Jun 2025 | د.م959.4b | د.م313.4b | د.م37.4b | 24.7x | 25.7x | 3.1x |
| Thu, 08 May 2025 | د.م903.9b | د.م304.6b | د.م35.8b | 24.3x | 25.3x | 3x |
| Sat, 05 Apr 2025 | د.م881.4b | د.م299.6b | د.م34.4b | 22.5x | 25.6x | 2.9x |
| Mon, 03 Mar 2025 | د.م847.0b | د.م298.1b | د.م33.6b | 22.9x | 25.2x | 2.8x |
| Wed, 29 Jan 2025 | د.م797.0b | د.م297.1b | د.م32.8b | 23x | 24.3x | 2.7x |
| Fri, 27 Dec 2024 | د.م738.0b | د.م299.1b | د.م32.8b | 22.1x | 22.5x | 2.5x |
| Sun, 24 Nov 2024 | د.م747.8b | د.م294.1b | د.م32.1b | 22.4x | 23.3x | 2.5x |
| Tue, 22 Oct 2024 | د.م715.9b | د.م294.1b | د.م32.1b | 21.5x | 22.3x | 2.4x |
| Thu, 19 Sep 2024 | د.م716.5b | د.م290.2b | د.م30.1b | 24.6x | 23.8x | 2.5x |
| Sat, 17 Aug 2024 | د.م710.1b | د.م291.1b | د.م30.0b | 22.6x | 23.7x | 2.4x |
| Mon, 15 Jul 2024 | د.م691.4b | د.م290.7b | د.م34.0b | 22.1x | 20.4x | 2.4x |
| Wed, 12 Jun 2024 | د.م675.6b | د.م291.3b | د.م34.0b | 22.2x | 19.9x | 2.3x |
| Fri, 10 May 2024 | د.م690.3b | د.م289.7b | د.م32.9b | 21.9x | 21x | 2.4x |
| Sun, 07 Apr 2024 | د.م665.1b | د.م286.3b | د.م32.6b | 23.3x | 20.4x | 2.3x |
| Tue, 05 Mar 2024 | د.م660.7b | د.م281.3b | د.م32.3b | 23.2x | 20.5x | 2.3x |
| Thu, 01 Feb 2024 | د.م635.2b | د.م283.6b | د.م32.7b | 21.5x | 19.4x | 2.2x |
| Sat, 30 Dec 2023 | د.م617.5b | د.م284.5b | د.م32.8b | 20.8x | 18.9x | 2.2x |
| Mon, 27 Nov 2023 | د.م603.5b | د.م278.0b | د.م31.4b | 20.2x | 19.2x | 2.2x |
| Wed, 25 Oct 2023 | د.م618.8b | د.م275.4b | د.م30.1b | 20.5x | 20.6x | 2.2x |
| Fri, 22 Sep 2023 | د.م596.3b | د.م273.4b | د.م30.6b | 20.3x | 19.5x | 2.2x |
| Sun, 20 Aug 2023 | د.م609.8b | د.م264.8b | د.م29.5b | 20.5x | 20.7x | 2.3x |
| Tue, 18 Jul 2023 | د.م588.9b | د.م258.7b | د.م26.8b | 20.3x | 22x | 2.3x |
| Thu, 15 Jun 2023 | د.م569.0b | د.م255.8b | د.م26.6b | 21x | 21.4x | 2.2x |
| Sat, 13 May 2023 | د.م548.7b | د.م252.5b | د.م26.9b | 19.8x | 20.4x | 2.2x |
| Mon, 10 Apr 2023 | د.م538.1b | د.م241.1b | د.م27.1b | 17.7x | 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 12% 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 | 1.08% | |
| Materials | 5.47% | |
| Real Estate | 3.93% | |
| Telecom | 0.43% | |
| Industrials | 0.15% | |
| Financials | -0.14% | |
| Consumer Discretionary | -0.21% | |
| Consumer Staples | -0.48% | |
| Tech | -0.60% | |
| Utilities | -0.91% | |
| Healthcare | -1.33% | |
| Energy | -2.11% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 34.7x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 45.3%, 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 31.5x.
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 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.م9.30k | 9.7% +د.م9.7b | 82.4% | PE148.8x | Materials | |
| ADH Douja Promotion Groupe Addoha | د.م32.25 | 10.8% +د.م1.3b | -24.8% | PE36.6x | Real Estate | |
| SMI Societe Metallurgique d'Imiter société anonyme | د.م6.54k | 9.0% +د.م893.3m | 167.1% | PE60.3x | Materials | |
| SAH Sanlam Maroc | د.م2.69k | 7.5% +د.م769.9m | 51.8% | PE12x | Financials | |
| BCP Banque Centrale Populaire | د.م248.20 | 1.3% +د.م650.1m | -11.1% | PB1.3x | Financials |
