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Moroccan (MASI) Market Analysis & Valuation
UpdatedJan 07, 2026
DataAggregated Company Financials
Companies75
- 7D4.9%
- 3M1.7%
- 1Y27.3%
- YTD1.9%
The market has climbed by 4.9% over the past week, with every sector up and the Financials sector leading the way. The market is up 27% over the last 12 months. As for the next few years, earnings are expected to grow by 14% 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 |
|---|---|---|---|---|---|---|
| Wed, 07 Jan 2026 | د.م1.1t | د.م339.8b | د.م46.2b | 23.9x | 23x | 3.1x |
| Fri, 05 Dec 2025 | د.م956.9b | د.م325.3b | د.م45.0b | 22x | 21.3x | 2.9x |
| Sun, 02 Nov 2025 | د.م1.0t | د.م324.9b | د.م44.8b | 23.6x | 22.8x | 3.1x |
| Tue, 30 Sep 2025 | د.م986.4b | د.م312.5b | د.م43.6b | 23.6x | 22.6x | 3.2x |
| Thu, 28 Aug 2025 | د.م1.0t | د.م311.2b | د.م43.4b | 25.7x | 24.1x | 3.4x |
| Sat, 26 Jul 2025 | د.م1.0t | د.م309.7b | د.م37.3b | 24.4x | 27x | 3.3x |
| Mon, 23 Jun 2025 | د.م928.8b | د.م313.4b | د.م37.4b | 22.7x | 24.8x | 3x |
| Wed, 21 May 2025 | د.م933.7b | د.م308.2b | د.م36.2b | 24.2x | 25.8x | 3x |
| Fri, 18 Apr 2025 | د.م880.3b | د.م299.8b | د.م34.4b | 22.7x | 25.6x | 2.9x |
| Sun, 16 Mar 2025 | د.م840.1b | د.م297.4b | د.م34.0b | 23.6x | 24.7x | 2.8x |
| Tue, 11 Feb 2025 | د.م825.1b | د.م297.1b | د.م32.8b | 23.2x | 25.2x | 2.8x |
| Thu, 09 Jan 2025 | د.م786.1b | د.م297.1b | د.م32.8b | 23.2x | 24x | 2.6x |
| Sat, 07 Dec 2024 | د.م739.3b | د.م294.4b | د.م32.5b | 22x | 22.7x | 2.5x |
| Mon, 04 Nov 2024 | د.م721.5b | د.م294.1b | د.م32.1b | 21.8x | 22.5x | 2.5x |
| Wed, 02 Oct 2024 | د.م722.3b | د.م292.9b | د.م31.6b | 22.3x | 22.8x | 2.5x |
| Fri, 30 Aug 2024 | د.م713.1b | د.م291.2b | د.م30.1b | 23.2x | 23.7x | 2.4x |
| Sun, 28 Jul 2024 | د.م702.9b | د.م291.2b | د.م34.0b | 22.2x | 20.7x | 2.4x |
| Tue, 25 Jun 2024 | د.م671.7b | د.م290.7b | د.م34.0b | 22.3x | 19.8x | 2.3x |
| Thu, 23 May 2024 | د.م684.5b | د.م288.7b | د.م33.0b | 21.8x | 20.7x | 2.4x |
| Sat, 20 Apr 2024 | د.م686.0b | د.م289.7b | د.م32.8b | 23.4x | 20.9x | 2.4x |
| Mon, 18 Mar 2024 | د.م662.9b | د.م281.9b | د.م32.6b | 22x | 20.4x | 2.4x |
| Wed, 14 Feb 2024 | د.م643.2b | د.م283.6b | د.م32.6b | 22.3x | 19.7x | 2.3x |
| Fri, 12 Jan 2024 | د.م637.4b | د.م283.1b | د.م32.7b | 21.5x | 19.5x | 2.3x |
| Sun, 10 Dec 2023 | د.م601.3b | د.م278.1b | د.م31.2b | 20.5x | 19.3x | 2.2x |
| Tue, 07 Nov 2023 | د.م604.8b | د.م275.7b | د.م30.2b | 20.3x | 20x | 2.2x |
| Thu, 05 Oct 2023 | د.م596.9b | د.م272.4b | د.م29.7b | 20.3x | 20.1x | 2.2x |
| Sat, 02 Sep 2023 | د.م604.8b | د.م270.2b | د.م29.9b | 20.1x | 20.3x | 2.2x |
| Mon, 31 Jul 2023 | د.م616.2b | د.م259.6b | د.م29.2b | 20.6x | 21.1x | 2.4x |
| Wed, 28 Jun 2023 | د.م586.4b | د.م263.3b | د.م27.1b | 20.2x | 21.6x | 2.2x |
| Fri, 26 May 2023 | د.م550.9b | د.م255.9b | د.م26.6b | 20.9x | 20.7x | 2.2x |
| Sun, 23 Apr 2023 | د.م537.6b | د.م251.3b | د.م27.6b | 17.9x | 19.5x | 2.1x |
| Tue, 21 Mar 2023 | د.م531.9b | د.م237.9b | د.م26.7b | 18.5x | 19.9x | 2.2x |
| Thu, 16 Feb 2023 | د.م544.3b | د.م234.6b | د.م27.5b | 19.2x | 19.8x | 2.3x |
| Sat, 14 Jan 2023 | د.م532.1b | د.م233.3b | د.م27.4b | 18.3x | 19.4x | 2.3x |
Price to Earnings Ratio
19.4x
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 22.0x.
Past Earnings Growth
- The earnings for Moroccan listed companies have grown 19% 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 | 4.94% | |
| Materials | 7.03% | |
| Industrials | 6.38% | |
| Healthcare | 5.79% | |
| Telecom | 5.07% | |
| Consumer Staples | 4.66% | |
| Real Estate | 4.46% | |
| Financials | 4.09% | |
| Consumer Discretionary | 3.42% | |
| Energy | 1.99% | |
| Utilities | 0.92% | |
| Tech | 0.42% | |
Sector PE
- Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 34.6x.
- 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 32.4x.
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 8.6% 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 | |
|---|---|---|---|---|---|---|
| MNG Managem | د.م7.00k | 11.1% +د.م8.3b | 139.8% | PE112x | Materials | |
| GTM Societe Generale Des Travaux Du Maroc | د.م943.00 | 12.8% +د.م6.4b | n/a | PE47.7x | Industrials | |
| ATW Attijariwafa bank | د.م757.00 | 3.8% +د.م5.6b | 24.9% | PB2.3x | Financials | |
| IAM Itissalat Al-Maghrib (IAM) | د.م114.00 | 5.1% +د.م4.8b | 29.7% | PE14.2x | Telecom | |
| BOA Bank of Africa | د.م231.45 | 6.2% +د.م3.0b | 16.3% | PB1.6x | Financials |
