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Moroccan (MASI) Market Analysis & Valuation

UpdatedMar 19, 2025
DataAggregated Company Financials
Companies69
  • 7D2.6%
  • 3M15.3%
  • 1Y27.9%
  • YTD13.5%

In the last week, the market has stayed flat, however the Materials sector stood out, gaining 3.5%. Meanwhile, the market is actually up 26% over the past year. Looking forward, earnings are forecast to grow by 18% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 19 Mar 2025د.م854.6bد.م297.4bد.م34.1b23x25.1x2.9x
Fri, 14 Feb 2025د.م829.2bد.م297.8bد.م33.0b22.8x25.1x2.8x
Sun, 12 Jan 2025د.م796.8bد.م297.1bد.م32.8b23.8x24.3x2.7x
Tue, 10 Dec 2024د.م741.3bد.م294.4bد.م32.5b22x22.8x2.5x
Thu, 07 Nov 2024د.م723.7bد.م294.1bد.م32.1b21.8x22.5x2.5x
Sat, 05 Oct 2024د.م720.1bد.م294.4bد.م32.2b22.1x22.4x2.4x
Mon, 02 Sep 2024د.م711.5bد.م291.2bد.م30.1b23.2x23.7x2.4x
Wed, 31 Jul 2024د.م708.2bد.م291.4bد.م34.1b22.4x20.8x2.4x
Fri, 28 Jun 2024د.م682.4bد.م290.7bد.م34.0b22.1x20.1x2.3x
Sun, 26 May 2024د.م684.0bد.م288.7bد.م33.0b22x20.7x2.4x
Tue, 23 Apr 2024د.م686.9bد.م289.7bد.م32.8b23.4x20.9x2.4x
Thu, 21 Mar 2024د.م657.2bد.م281.9bد.م32.6b22.1x20.2x2.3x
Sat, 17 Feb 2024د.م653.6bد.م283.6bد.م32.6b22.8x20.1x2.3x
Mon, 15 Jan 2024د.م639.3bد.م283.1bد.م32.7b21.4x19.6x2.3x
Wed, 13 Dec 2023د.م608.3bد.م278.1bد.م31.2b20.7x19.5x2.2x
Fri, 10 Nov 2023د.م603.2bد.م275.7bد.م30.2b20.3x20x2.2x
Sun, 08 Oct 2023د.م622.8bد.م272.9bد.م29.7b21.3x21x2.3x
Tue, 05 Sep 2023د.م604.6bد.م270.2bد.م29.9b20.1x20.2x2.2x
Thu, 03 Aug 2023د.م623.6bد.م259.6bد.م29.2b20.9x21.3x2.4x
Sat, 01 Jul 2023د.م590.1bد.م257.7bد.م26.7b20x22.1x2.3x
Mon, 29 May 2023د.م558.1bد.م255.4bد.م26.6b21x21x2.2x
Wed, 26 Apr 2023د.م537.1bد.م249.1bد.م27.5b17.7x19.5x2.2x
Fri, 24 Mar 2023د.م538.5bد.م238.8bد.م26.8b19.1x20.1x2.3x
Sun, 19 Feb 2023د.م553.1bد.م234.6bد.م27.5b19.4x20.1x2.4x
Tue, 17 Jan 2023د.م535.6bد.م233.3bد.م27.4b18.9x19.5x2.3x
Thu, 15 Dec 2022د.م571.8bد.م257.6bد.م28.1b20.4x20.3x2.2x
Sat, 12 Nov 2022د.م525.7bد.م257.0bد.م27.9b18.9x18.9x2x
Mon, 10 Oct 2022د.م596.3bد.م252.0bد.م28.4b21.3x21x2.4x
Wed, 07 Sep 2022د.م614.5bد.م244.6bد.م26.8b24.7x22.9x2.5x
Fri, 05 Aug 2022د.م603.2bد.م244.6bد.م26.8b23.9x22.5x2.5x
Sun, 03 Jul 2022د.م597.3bد.م223.8bد.م28.7b22.2x20.8x2.7x
Tue, 31 May 2022د.م624.2bد.م243.6bد.م28.3b23x22.1x2.6x
Thu, 28 Apr 2022د.م661.2bد.م236.5bد.م27.1b24.2x24.4x2.8x
Sat, 26 Mar 2022د.م642.0bد.م236.9bد.م26.9b23.2x23.9x2.7x
Price to Earnings Ratio

23.9x


Total Market Cap: د.م642.0bTotal Earnings: د.م26.9bTotal Revenue: د.م236.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Moroccan Market Price to Earnings3Y Average 21.4x202320242025
Current Market PE
  • Investors are optimistic on the Moroccan market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 24.9x which is higher than its 3-year average PE of 21.4x.
Past Earnings Growth
  • The earnings for Moroccan listed companies have grown 8.1% per year over the last three years.
  • Revenues for these companies have grown 7.9% 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 Market2.62%
Utilities5.85%
Materials5.12%
Industrials3.78%
Healthcare3.09%
Telecom3.03%
Financials1.60%
Consumer Discretionary1.55%
Tech0.82%
Consumer Staples0.26%
Energy0%0
Real Estate-0.15%
Sector PE
  • Investors favour the Real Estate sector the most for future growth, which is trading above its 3-year average PE ratio of 31.9x.
    • Analysts expect its future annual earnings growth (38.4%) to be largely in line with prior year's earnings growth.
    • The market's confidence could indicate that the market believes that analysts are underestimating future growth.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 16.9x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 46% over the next 5 years.
  • This is better than its past earnings growth rate of 7.7% per year.
  • In contrast, the Tech industry is expected to see its earnings growth to stay flat 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.م4.50k11.9%
+د.م5.7b		154.0%PE114xMaterials
IAM Itissalat Al-Maghrib (IAM)د.م110.403.0%
+د.م2.9b		7.2%PE53.9xTelecom
TQM TAQA Moroccoد.م1.72k5.8%
+د.م2.2b		41.0%PE38.5xUtilities
ATW Attijariwafa bankد.م650.101.6%
+د.م2.0b		28.2%PB2.1xFinancials
BOA Bank of Africaد.م195.004.8%
+د.م1.9b		-0.02%PB1.5xFinancials
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Latest News

ATW

د.م650.10

Attijariwafa bank

7D

1.6%

1Y

28.2%

TQM

د.م1,720.00

TAQA Morocco

7D

5.8%

1Y

41.0%

MSA

د.م730.00

Société d'Exploitation des Ports

7D

3.4%

1Y

157.0%

TGC

د.م710.00

Travaux Généraux de Construction de Casablanca

7D

6.6%

1Y

202.1%

ATL

د.م142.00

AtlantaSanad Société Anonyme

7D

-2.7%

1Y

15.9%

CSR

د.م202.00

Cosumar

7D

-1.5%

1Y

5.2%

CIH

د.م430.00

Crédit Immobilier et Hôtelier Société Anonyme

7D

-3.4%

1Y

19.4%

ADH

د.م40.90

Douja Promotion Groupe Addoha

7D

-1.6%

1Y

87.6%

MNG

د.م4,500.00

Managem

7D

11.9%

1Y

154.0%

ATH

د.م74.00

Auto Hall

7D

-2.0%

1Y

15.6%

IAM

د.م110.40

Itissalat Al-Maghrib (IAM)

7D

3.0%

1Y

7.2%

LES

د.م275.00

Lesieur Cristal

7D

-1.7%

1Y

2.6%

CMG

د.م313.00

Compagnie Marocaine de Goutte à goutte et de Pompage

7D

-2.2%

1Y

n/a

SID

د.م1,650.00

SONASID

7D

12.6%

1Y

129.5%

BOA

د.م195.00

Bank of Africa

7D

4.8%

1Y

-0.02%

CMA

د.م1,900.00

Ciments du Maroc Société Anonyme

7D

-0.3%

1Y

11.4%