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Moroccan (MASI) Market Analysis & Valuation
UpdatedNov 06, 2025
DataAggregated Company Financials
Companies72
- 7D-0.4%
- 3M-2.2%
- 1Y36.7%
- YTD32.5%
The market has been flat in the last week, however the Consumer Discretionary sector is down 3.5%. Meanwhile, the market is actually up 37% over the past year. Earnings are forecast to grow by 14% 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 |
|---|---|---|---|---|---|---|
| Thu, 06 Nov 2025 | د.م1.0t | د.م324.9b | د.م44.8b | 23.7x | 22.5x | 3.1x |
| Sat, 04 Oct 2025 | د.م978.0b | د.م316.4b | د.م44.2b | 22.4x | 22.1x | 3.1x |
| Mon, 01 Sep 2025 | د.م1.0t | د.م311.2b | د.م43.4b | 25.4x | 24x | 3.3x |
| Wed, 30 Jul 2025 | د.م1.0t | د.م310.3b | د.م42.7b | 24.5x | 23.7x | 3.3x |
| Fri, 27 Jun 2025 | د.م953.9b | د.م313.4b | د.م37.4b | 24.5x | 25.5x | 3x |
| Sun, 25 May 2025 | د.م937.2b | د.م309.1b | د.م36.5b | 24.2x | 25.7x | 3x |
| Tue, 22 Apr 2025 | د.م884.3b | د.م300.5b | د.م34.5b | 22.8x | 25.7x | 2.9x |
| Thu, 20 Mar 2025 | د.م873.4b | د.م297.4b | د.م34.1b | 23.5x | 25.6x | 2.9x |
| Sat, 15 Feb 2025 | د.م832.2b | د.م297.8b | د.م33.0b | 22.6x | 25.2x | 2.8x |
| Mon, 13 Jan 2025 | د.م796.8b | د.م296.8b | د.م32.7b | 24x | 24.4x | 2.7x |
| Wed, 11 Dec 2024 | د.م738.1b | د.م296.9b | د.م32.7b | 22x | 22.6x | 2.5x |
| Fri, 08 Nov 2024 | د.م732.1b | د.م294.1b | د.م32.1b | 22.3x | 22.8x | 2.5x |
| Sun, 06 Oct 2024 | د.م720.1b | د.م294.5b | د.م32.2b | 22.1x | 22.4x | 2.4x |
| Tue, 03 Sep 2024 | د.م713.9b | د.م291.2b | د.م30.1b | 23.9x | 23.7x | 2.5x |
| Thu, 01 Aug 2024 | د.م713.2b | د.م291.2b | د.م30.0b | 23.3x | 23.7x | 2.4x |
| Sat, 29 Jun 2024 | د.م681.0b | د.م284.8b | د.م33.9b | 21.9x | 20.1x | 2.4x |
| Mon, 27 May 2024 | د.م684.0b | د.م288.7b | د.م33.0b | 22x | 20.7x | 2.4x |
| Wed, 24 Apr 2024 | د.م677.0b | د.م289.8b | د.م32.8b | 23.1x | 20.6x | 2.3x |
| Fri, 22 Mar 2024 | د.م658.0b | د.م282.0b | د.م32.6b | 22x | 20.2x | 2.3x |
| Sun, 18 Feb 2024 | د.م653.6b | د.م283.6b | د.م32.6b | 22.8x | 20.1x | 2.3x |
| Tue, 16 Jan 2024 | د.م636.7b | د.م283.1b | د.م32.7b | 21.5x | 19.5x | 2.2x |
| Thu, 14 Dec 2023 | د.م614.4b | د.م278.2b | د.م31.1b | 21.1x | 19.8x | 2.2x |
| Sat, 11 Nov 2023 | د.م602.9b | د.م275.7b | د.م30.2b | 20.3x | 20x | 2.2x |
| Mon, 09 Oct 2023 | د.م622.8b | د.م272.9b | د.م29.7b | 21.3x | 21x | 2.3x |
| Wed, 06 Sep 2023 | د.م603.1b | د.م270.2b | د.م29.9b | 20.2x | 20.2x | 2.2x |
| Fri, 04 Aug 2023 | د.م620.0b | د.م259.6b | د.م29.2b | 21.3x | 21.2x | 2.4x |
| Sun, 02 Jul 2023 | د.م590.1b | د.م255.9b | د.م26.7b | 20x | 22.1x | 2.3x |
| Tue, 30 May 2023 | د.م561.8b | د.م255.4b | د.م26.6b | 21.7x | 21.1x | 2.2x |
| Thu, 27 Apr 2023 | د.م534.6b | د.م251.4b | د.م27.5b | 18.1x | 19.4x | 2.1x |
| Sat, 25 Mar 2023 | د.م535.2b | د.م239.8b | د.م27.1b | 18.8x | 19.7x | 2.2x |
| Mon, 20 Feb 2023 | د.م553.1b | د.م234.6b | د.م27.5b | 19.4x | 20.1x | 2.4x |
| Wed, 18 Jan 2023 | د.م537.1b | د.م233.3b | د.م27.4b | 19.1x | 19.6x | 2.3x |
| Fri, 16 Dec 2022 | د.م573.8b | د.م257.6b | د.م28.1b | 20.2x | 20.4x | 2.2x |
| Sun, 13 Nov 2022 | د.م525.5b | د.م257.0b | د.م27.9b | 18.9x | 18.9x | 2x |
Price to Earnings Ratio
18.9x
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 21.8x.
Past Earnings Growth
- The earnings for Moroccan listed companies have grown 17% per year over the last three years.
- Revenues for these companies have grown 8.1% 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 | -0.43% | |
| Materials | 2.39% | |
| Energy | 0.96% | |
| Tech | 0.55% | |
| Industrials | 0.49% | |
| Financials | -0.39% | |
| Healthcare | -1.04% | |
| Telecom | -2.00% | |
| Consumer Staples | -2.08% | |
| Real Estate | -2.70% | |
| Utilities | -2.82% | |
| Consumer Discretionary | -3.47% | |
Sector PE
- Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 32.8x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 13.0% which is higher than its past year's earnings decline of 12.8% per year.
- The Tech sector is the least preferred by investors for future growth, which is trading below its 3-year average of 22.9x.
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 8.2% 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.م6.20k | 3.3% +د.م2.4b | 128.6% | PE99.2x | Materials | |
| LHM LafargeHolcim Maroc | د.م1.96k | 3.5% +د.م1.6b | 4.5% | PE23.1x | Materials | |
| BCP Banque Centrale Populaire | د.م309.00 | 2.1% +د.م1.3b | 5.9% | PB1.7x | Financials | |
| TGC Travaux Généraux de Construction de Casablanca | د.م949.00 | 3.9% +د.م1.2b | 113.7% | PE48.5x | Industrials | |
| CMA Ciments du Maroc Société Anonyme | د.م2.05k | 2.1% +د.م620.7m | 13.1% | PE27.3x | Materials |
