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Moroccan (MASI) Market Analysis & Valuation

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies75
  • 7D5.3%
  • 3M-2.7%
  • 1Y14.3%
  • YTD-0.9%

Over the last 7 days, the market has risen 5.3%, driven by gains of 15% in the Materials sector. The market is up 14% over the last 12 months. Looking forward, earnings are forecast to grow by 21% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Apr 2026د.م1.1tد.م340.3bد.م47.8b21.9x22.2x3.1x
Fri, 13 Mar 2026د.م947.0bد.م341.8bد.م46.3b21.2x20.4x2.8x
Sun, 08 Feb 2026د.م1.0tد.م341.3bد.م46.4b22.8x21.6x2.9x
Tue, 06 Jan 2026د.م1.1tد.م339.8bد.م46.2b24.1x22.9x3.1x
Thu, 04 Dec 2025د.م956.1bد.م325.3bد.م45.0b21.7x21.3x2.9x
Sat, 01 Nov 2025د.م1.0tد.م324.9bد.م44.9b23.3x22.7x3.1x
Mon, 29 Sep 2025د.م1.0tد.م312.5bد.م43.6b23.9x23x3.2x
Wed, 27 Aug 2025د.م1.0tد.م311.2bد.م43.4b25.8x23.9x3.3x
Fri, 25 Jul 2025د.م1.0tد.م309.7bد.م37.3b24.1x26.8x3.2x
Sun, 22 Jun 2025د.م928.8bد.م313.4bد.م37.4b23.3x24.9x3x
Tue, 20 May 2025د.م923.2bد.م308.3bد.م36.2b24.5x25.5x3x
Thu, 17 Apr 2025د.م876.1bد.م299.7bد.م34.4b23.1x25.5x2.9x
Sat, 15 Mar 2025د.م840.1bد.م297.4bد.م34.0b23.6x24.7x2.8x
Mon, 10 Feb 2025د.م823.3bد.م297.1bد.م32.8b23.4x25.1x2.8x
Wed, 08 Jan 2025د.م776.1bد.م297.1bد.م32.8b23x23.7x2.6x
Fri, 06 Dec 2024د.م744.6bد.م294.4bد.م32.5b22.3x22.9x2.5x
Sun, 03 Nov 2024د.م721.5bد.م294.1bد.م32.1b21.8x22.5x2.5x
Tue, 01 Oct 2024د.م731.2bد.م292.2bد.م30.9b23.6x23.7x2.5x
Thu, 29 Aug 2024د.م712.0bد.م291.2bد.م30.1b23x23.7x2.4x
Sat, 27 Jul 2024د.م702.9bد.م291.2bد.م34.0b22.2x20.7x2.4x
Mon, 24 Jun 2024د.م672.4bد.م290.7bد.م34.0b22.7x19.8x2.3x
Wed, 22 May 2024د.م687.3bد.م288.7bد.م33.0b21.8x20.8x2.4x
Fri, 19 Apr 2024د.م686.0bد.م289.7bد.م32.8b23.4x20.9x2.4x
Sun, 17 Mar 2024د.م662.9bد.م281.9bد.م32.6b22x20.4x2.4x
Tue, 13 Feb 2024د.م642.3bد.م283.7bد.م32.7b22.3x19.7x2.3x
Thu, 11 Jan 2024د.م637.4bد.م283.1bد.م32.7b21.5x19.5x2.3x
Sat, 09 Dec 2023د.م601.3bد.م278.1bد.م31.2b20.5x19.3x2.2x
Mon, 06 Nov 2023د.م604.8bد.م275.7bد.م30.2b20.3x20x2.2x
Wed, 04 Oct 2023د.م596.9bد.م272.6bد.م29.8b20.4x20x2.2x
Fri, 01 Sep 2023د.م609.6bد.م264.8bد.م29.4b20.6x20.7x2.3x
Sun, 30 Jul 2023د.م616.2bد.م259.6bد.م29.2b20.6x21.1x2.4x
Tue, 27 Jun 2023د.م586.4bد.م263.3bد.م27.1b20.2x21.6x2.2x
Thu, 25 May 2023د.م550.9bد.م255.9bد.م26.6b20.9x20.7x2.2x
Sat, 22 Apr 2023د.م537.6bد.م251.3bد.م27.6b17.9x19.5x2.1x
Price to Earnings Ratio

19.5x


Total Market Cap: د.م537.6bTotal Earnings: د.م27.6bTotal Revenue: د.م251.3bTotal 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 11% 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 Market9.39%
Materials25.63%
Healthcare10.81%
Industrials9.18%
Real Estate8.73%
Utilities5.93%
Tech4.09%
Financials3.23%
Telecom3.14%
Consumer Staples1.63%
Consumer Discretionary0.25%
Energy-1.06%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 35.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 48.9%, 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 31.3x.
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?

CompanyLast Price7D1YValuationSector
MNG Managemد.م14.10k38.5%
+د.م46.5b		176.7%PE225.6xMaterials
MSA Société d'Exploitation des Portsد.م838.008.8%
+د.م5.0b		16.4%PE43.5xIndustrials
ATW Attijariwafa bankد.م700.203.6%
+د.م4.9b		5.5%PB2xFinancials
GTM Societe Generale des Travaux du Marocد.م780.0011.3%
+د.م4.7b		n/aPE39.5xIndustrials
SMI Societe Metallurgique d'Imiter société anonymeد.م8.99k27.8%
+د.م3.2b		275.9%PE82.8xMaterials
See more

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OUL
د.م1,220.00
Les Eaux Minérales d'Oulmès
7D
-2.9%
1Y
-0.2%
MNG
د.م14,100.00
Managem
7D
38.5%
1Y
176.7%
NEJ
د.م4,310.00
Auto Nejma Maroc
7D
-6.0%
1Y
n/a
TQM
د.م1,859.00
TAQA Morocco
7D
5.9%
1Y
-11.5%
BCI
د.م605.00
Banque Marocaine pour le Commerce et l'Industrie
7D
-2.4%
1Y
6.7%
ATH
د.م78.00
Auto Hall
7D
-1.3%
1Y
1.3%
SMI
د.م8,985.00
Societe Metallurgique d'Imiter société anonyme
7D
27.8%
1Y
275.9%
MSA
د.م838.00
Société d'Exploitation des Ports
7D
8.8%
1Y
16.4%
GAZ
د.م3,750.00
Afriquia Gaz
7D
-1.1%
1Y
-9.6%
CSR
د.م191.30
Cosumar
7D
-0.9%
1Y
-12.2%
LHM
د.م1,834.00
LafargeHolcim Maroc
7D
5.8%
1Y
-3.0%
GTM
د.م780.00
Societe Generale des Travaux du Maroc
7D
11.3%
1Y
n/a
ATW
د.م700.20
Attijariwafa bank
7D
3.6%
1Y
5.5%
IAM
د.م95.40
Itissalat Al-Maghrib (IAM)
7D
3.1%
1Y
-16.3%
SLF
د.م484.95
Salafin
7D
-4.0%
1Y
-29.7%
LES
د.م403.00
Lesieur Cristal
7D
-2.9%
1Y
43.9%