Have your own idea? Try our Stock Screener
Moroccan (MASI) Market Analysis & Valuation
UpdatedApr 22, 2026
DataAggregated Company Financials
Companies75
- 7D1.7%
- 3M5.1%
- 1Y13.9%
- YTD3.2%
The market is up 3.3% in the last 7 days, led by the Industrials and all sectors gaining ground. In the last year, the market has climbed 13%. 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 22 Apr 2026 | د.م1.1t | د.م340.3b | د.م47.8b | 22.2x | 22.6x | 3.2x |
| Fri, 20 Mar 2026 | د.م964.1b | د.م342.3b | د.م46.5b | 21.3x | 20.8x | 2.8x |
| Sun, 15 Feb 2026 | د.م1.0t | د.م342.5b | د.م46.4b | 22.3x | 22x | 3x |
| Tue, 13 Jan 2026 | د.م1.1t | د.م339.8b | د.م46.2b | 23.9x | 23.1x | 3.1x |
| Thu, 11 Dec 2025 | د.م969.5b | د.م325.3b | د.م44.9b | 22.5x | 21.6x | 3x |
| Sat, 08 Nov 2025 | د.م1.0t | د.م324.9b | د.م44.8b | 23.7x | 22.4x | 3.1x |
| Mon, 06 Oct 2025 | د.م978.0b | د.م317.8b | د.م44.5b | 22.5x | 22x | 3.1x |
| Wed, 03 Sep 2025 | د.م1.0t | د.م311.2b | د.م43.4b | 26.2x | 24.1x | 3.4x |
| Fri, 01 Aug 2025 | د.م1.0t | د.م311.2b | د.م43.3b | 24.5x | 23.6x | 3.3x |
| Sun, 29 Jun 2025 | د.م953.9b | د.م313.4b | د.م37.4b | 24.5x | 25.5x | 3x |
| Tue, 27 May 2025 | د.م933.7b | د.م309.1b | د.م36.5b | 24.7x | 25.6x | 3x |
| Thu, 24 Apr 2025 | د.م882.8b | د.م300.5b | د.م34.5b | 22.3x | 25.6x | 2.9x |
| Sat, 22 Mar 2025 | د.م896.8b | د.م298.0b | د.م34.3b | 23.8x | 26.1x | 3x |
| Mon, 17 Feb 2025 | د.م832.2b | د.م297.8b | د.م33.0b | 22.6x | 25.2x | 2.8x |
| Wed, 15 Jan 2025 | د.م798.0b | د.م296.8b | د.م32.7b | 24.2x | 24.4x | 2.7x |
| Fri, 13 Dec 2024 | د.م737.2b | د.م296.9b | د.م32.7b | 21.8x | 22.6x | 2.5x |
| Sun, 10 Nov 2024 | د.م740.3b | د.م294.1b | د.م32.1b | 22.6x | 23x | 2.5x |
| Tue, 08 Oct 2024 | د.م718.4b | د.م292.4b | د.م32.0b | 22x | 22.5x | 2.5x |
| Thu, 05 Sep 2024 | د.م706.8b | د.م291.2b | د.م30.1b | 23x | 23.5x | 2.4x |
| Sat, 03 Aug 2024 | د.م714.2b | د.م291.2b | د.م30.0b | 23.2x | 23.8x | 2.5x |
| Mon, 01 Jul 2024 | د.م681.0b | د.م284.8b | د.م33.9b | 21.9x | 20.1x | 2.4x |
| Wed, 29 May 2024 | د.م683.8b | د.م288.7b | د.م33.0b | 21.8x | 20.7x | 2.4x |
| Fri, 26 Apr 2024 | د.م682.1b | د.م289.9b | د.م32.9b | 23x | 20.7x | 2.4x |
| Sun, 24 Mar 2024 | د.م657.8b | د.م282.0b | د.م32.6b | 22x | 20.2x | 2.3x |
| Tue, 20 Feb 2024 | د.م657.2b | د.م283.7b | د.م32.6b | 22.7x | 20.2x | 2.3x |
| Thu, 18 Jan 2024 | د.م643.4b | د.م283.1b | د.م32.7b | 21.6x | 19.7x | 2.3x |
| Sat, 16 Dec 2023 | د.م614.6b | د.م281.5b | د.م31.1b | 20.4x | 19.7x | 2.2x |
| Mon, 13 Nov 2023 | د.م602.9b | د.م275.7b | د.م30.2b | 20.3x | 20x | 2.2x |
| Wed, 11 Oct 2023 | د.م619.8b | د.م272.9b | د.م29.7b | 21.1x | 20.9x | 2.3x |
| Fri, 08 Sep 2023 | د.م598.1b | د.م270.3b | د.م29.9b | 20.2x | 20x | 2.2x |
| Sun, 06 Aug 2023 | د.م617.1b | د.م259.6b | د.م29.2b | 21.2x | 21.1x | 2.4x |
| Tue, 04 Jul 2023 | د.م589.6b | د.م255.9b | د.م26.7b | 20.6x | 22.1x | 2.3x |
| Thu, 01 Jun 2023 | د.م563.9b | د.م255.4b | د.م26.6b | 21.2x | 21.2x | 2.2x |
| Sat, 29 Apr 2023 | د.م538.3b | د.م251.4b | د.م27.5b | 17.7x | 19.6x | 2.1x |
Price to Earnings Ratio
19.6x
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 Market | 1.65% | |
| Industrials | 5.71% | |
| Financials | 2.68% | |
| Real Estate | 2.44% | |
| Healthcare | 1.87% | |
| Consumer Discretionary | 1.44% | |
| Utilities | 1.13% | |
| Telecom | 0.74% | |
| Energy | 0.59% | |
| Tech | 0.33% | |
| Consumer Staples | -0.052% | |
| Materials | -1.31% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 35.3x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 49.1%, 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 31.2x.
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 | |
|---|---|---|---|---|---|---|
| MSA Société d'Exploitation des Ports | د.م900.00 | 7.4% +د.م4.6b | 23.0% | PE46.7x | Industrials | |
| ATW Attijariwafa bank | د.م715.00 | 2.1% +د.م3.0b | 7.5% | PB2.1x | Financials | |
| GTM Societe Generale des Travaux du Maroc | د.م820.60 | 5.2% +د.م2.4b | n/a | PE41.5x | Industrials | |
| BOA Bank of Africa | د.م213.60 | 5.2% +د.م2.3b | 11.8% | PB1.5x | Financials | |
| BCP Banque Centrale Populaire | د.م253.15 | 3.8% +د.م1.9b | -5.7% | PB1.4x | Financials |
