Moroccan (MASI) Market Analysis & Valuation
UpdatedOct 02, 2023
DataAggregated Company Financials
Companies70
- 7D-0.2%
- 3M1.0%
- 1Y-0.5%
- YTD8.6%
Over the last 7 days, the market has remained flat, although notably the Healthcare sector gained 3.5% in that time. Similarly, the market is flat for the past 12 months. As for the next few years, earnings are expected to grow by 10% 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 |
|---|---|---|---|---|---|---|
| Tue, 03 Oct 2023 | د.م600.3b | د.م274.0b | د.م30.7b | 20.5x | 19.6x | 2.2x |
| Thu, 31 Aug 2023 | د.م607.3b | د.م264.7b | د.م29.4b | 21.2x | 20.6x | 2.3x |
| Sat, 29 Jul 2023 | د.م616.2b | د.م259.6b | د.م29.2b | 20.6x | 21.1x | 2.4x |
| Mon, 26 Jun 2023 | د.م587.1b | د.م263.3b | د.م27.1b | 20.2x | 21.7x | 2.2x |
| Wed, 24 May 2023 | د.م550.9b | د.م255.9b | د.م26.6b | 21.3x | 20.7x | 2.2x |
| Fri, 21 Apr 2023 | د.م537.2b | د.م251.3b | د.م27.6b | 17.9x | 19.5x | 2.1x |
| Sun, 19 Mar 2023 | د.م522.6b | د.م233.7b | د.م26.3b | 18.4x | 19.9x | 2.2x |
| Tue, 14 Feb 2023 | د.م551.7b | د.م234.6b | د.م27.5b | 19.3x | 20.1x | 2.4x |
| Thu, 12 Jan 2023 | د.م514.5b | د.م233.1b | د.م27.4b | 17.5x | 18.8x | 2.2x |
| Sat, 10 Dec 2022 | د.م570.4b | د.م257.6b | د.م28.1b | 20.2x | 20.3x | 2.2x |
| Mon, 07 Nov 2022 | د.م545.4b | د.م257.0b | د.م27.9b | 19.1x | 19.6x | 2.1x |
| Wed, 05 Oct 2022 | د.م591.0b | د.م250.9b | د.م28.3b | 21.6x | 20.9x | 2.4x |
| Fri, 02 Sep 2022 | د.م615.8b | د.م244.6b | د.م26.8b | 24.3x | 23x | 2.5x |
| Sun, 31 Jul 2022 | د.م600.5b | د.م244.6b | د.م26.8b | 22.8x | 22.4x | 2.5x |
| Tue, 28 Jun 2022 | د.م610.1b | د.م246.4b | د.م28.7b | 23.8x | 21.3x | 2.5x |
| Thu, 26 May 2022 | د.م628.0b | د.م243.6b | د.م28.3b | 23.5x | 22.2x | 2.6x |
| Sat, 23 Apr 2022 | د.م665.1b | د.م236.5b | د.م27.1b | 24.3x | 24.5x | 2.8x |
| Mon, 21 Mar 2022 | د.م655.8b | د.م236.0b | د.م26.8b | 23.1x | 24.5x | 2.8x |
| Wed, 16 Feb 2022 | د.م699.2b | د.م235.7b | د.م26.4b | 25.5x | 26.5x | 3x |
| Fri, 14 Jan 2022 | د.م688.0b | د.م235.7b | د.م26.4b | 25.5x | 26.1x | 2.9x |
| Sun, 12 Dec 2021 | د.م676.9b | د.م236.5b | د.م26.4b | 24.7x | 25.7x | 2.9x |
| Tue, 09 Nov 2021 | د.م680.4b | د.م234.4b | د.م25.8b | 25.5x | 26.3x | 2.9x |
| Thu, 07 Oct 2021 | د.م662.0b | د.م229.7b | د.م24.6b | 27.2x | 26.9x | 2.9x |
| Sat, 04 Sep 2021 | د.م645.0b | د.م224.8b | د.م20.8b | 31.3x | 30.9x | 2.9x |
| Mon, 02 Aug 2021 | د.م627.6b | د.م224.8b | د.م20.8b | 30.5x | 30.1x | 2.8x |
| Thu, 06 May 2021 | د.م599.6b | د.م224.4b | د.م20.0b | 29.5x | 29.9x | 2.7x |
| Sun, 07 Feb 2021 | د.م590.5b | د.م224.0b | د.م18.6b | 27.1x | 31.8x | 2.6x |
| Sat, 31 Oct 2020 | د.م532.3b | د.م229.7b | د.م18.7b | 24.7x | 28.4x | 2.3x |
Price to Earnings Ratio
27.1x
Current Market PE
- Investors are pessimistic on the Moroccan market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 19.6x which is lower than its 3-year average PE of 24.8x.
Past Earnings Growth
- The earnings for Moroccan listed companies have grown 18% per year over the last three years.
- Revenues for these companies have grown 6.1% 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 | -0.19% | |
| Healthcare | 3.99% | |
| Utilities | 1.66% | |
| Industrials | 1.65% | |
| Consumer Staples | 0.35% | |
| Financials | 0.12% | |
| Tech | 0.068% | |
| Energy | 0% | |
| Consumer Discretionary | -0.37% | |
| Telecom | -0.69% | |
| Materials | -1.50% | |
| Real Estate | -6.57% | |
Sector PE
- Investors favour the Real Estate sector the most for future growth, which is trading above its 3-year average PE ratio of 3.8x.
- Analysts are expecting annual earnings growth of 42.6%, which is lower than the prior year's growth of 68.2% per year.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 23.2x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 43% over the next 5 years.
- However this is lower than its past earnings growth rate of 68% per year.
- In contrast, the Telecom sector is expected to see its earnings grow by 4.6% 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 | |
|---|---|---|---|---|---|---|
| BOA Bank of Africa | د.م180.22 | 2.9% +د.م1.0b | 11.0% | PB1.4x | Financials | |
| SBM Societe des Boissons du Maroc | د.م2.80k | 7.3% +د.م537.6m | 16.7% | PE19.8x | Consumer Staples | |
| AKT Akdital | د.م483.00 | 8.5% +د.م480.7m | n/a | PE47.5x | Healthcare | |
| TQM TAQA Morocco | د.م1.05k | 1.9% +د.م471.8m | -7.9% | PE21.4x | Utilities | |
| MSA Société d'Exploitation des Ports | د.م267.00 | 1.1% +د.م220.2m | 7.3% | PE22.6x | Industrials |
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