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Moroccan (MASI) Market Analysis & Valuation

UpdatedMar 22, 2026
DataAggregated Company Financials
Companies75
  • 7D2.1%
  • 3M-7.0%
  • 1Y-1.2%
  • YTD-9.0%

Over the last 7 days, the market has risen 2.1%, driven by gains of 3.1% in the Financials sector. The market has been flat overall in the last year. As for the next few years, earnings are expected to grow by 18% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Mar 2026د.م951.0bد.م343.1bد.م46.5b21.3x20.4x2.8x
Tue, 17 Feb 2026د.م1.0tد.م342.5bد.م46.4b22.5x22.2x3x
Thu, 15 Jan 2026د.م1.1tد.م339.8bد.م46.2b23.9x23.1x3.1x
Sat, 13 Dec 2025د.م972.0bد.م325.3bد.م44.9b22.5x21.6x3x
Mon, 10 Nov 2025د.م1.0tد.م324.9bد.م44.8b23.7x22.4x3.1x
Wed, 08 Oct 2025د.م986.8bد.م317.9bد.م44.4b22.8x22.2x3.1x
Fri, 05 Sep 2025د.م1.0tد.م311.2bد.م43.4b25.9x24x3.3x
Sun, 03 Aug 2025د.م1.0tد.م311.2bد.م43.3b24.6x23.5x3.3x
Tue, 01 Jul 2025د.م945.2bد.م313.4bد.م37.4b24.5x25.3x3x
Thu, 29 May 2025د.م928.4bد.م309.1bد.م36.5b24.8x25.4x3x
Sat, 26 Apr 2025د.م886.6bد.م293.0bد.م33.2b23.1x26.7x3x
Mon, 24 Mar 2025د.م896.8bد.م298.0bد.م34.3b23.8x26.1x3x
Wed, 19 Feb 2025د.م845.0bد.م297.8bد.م33.6b22.5x25.2x2.8x
Fri, 17 Jan 2025د.م806.9bد.م297.1bد.م32.8b23.9x24.6x2.7x
Sun, 15 Dec 2024د.م738.9bد.م296.9bد.م32.7b22x22.6x2.5x
Tue, 12 Nov 2024د.م741.7bد.م294.1bد.م32.1b21.8x23.1x2.5x
Thu, 10 Oct 2024د.م718.3bد.م294.1bد.م32.1b22.1x22.4x2.4x
Sat, 07 Sep 2024د.م709.0bد.م291.1bد.م30.1b22.4x23.5x2.4x
Mon, 05 Aug 2024د.م714.2bد.م291.1bد.م30.0b23.2x23.8x2.5x
Wed, 03 Jul 2024د.م681.7bد.م290.7bد.م34.0b21.7x20.1x2.3x
Fri, 31 May 2024د.م680.2bد.م288.7bد.م33.0b22.2x20.6x2.4x
Sun, 28 Apr 2024د.م683.2bد.م290.3bد.م33.0b23.3x20.7x2.4x
Tue, 26 Mar 2024د.م656.8bد.م282.0bد.م32.6b22x20.1x2.3x
Thu, 22 Feb 2024د.م658.1bد.م282.7bد.م32.6b22.4x20.2x2.3x
Sat, 20 Jan 2024د.م647.7bد.م283.1bد.م32.7b21.7x19.8x2.3x
Mon, 18 Dec 2023د.م619.0bد.م282.0bد.م31.2b20.9x19.8x2.2x
Wed, 15 Nov 2023د.م604.4bد.م275.7bد.م30.2b20.3x20x2.2x
Fri, 13 Oct 2023د.م621.4bد.م273.3bد.م29.8b20.9x20.9x2.3x
Sun, 10 Sep 2023د.م595.1bد.م270.3bد.م29.9b20.1x19.9x2.2x
Tue, 08 Aug 2023د.م616.2bد.م259.6bد.م29.2b21.7x21.1x2.4x
Thu, 06 Jul 2023د.م595.3bد.م255.9bد.م26.7b20.8x22.3x2.3x
Sat, 03 Jun 2023د.م567.1bد.م255.5bد.م26.6b21.7x21.3x2.2x
Mon, 01 May 2023د.م538.3bد.م251.4bد.م27.5b17.7x19.6x2.1x
Wed, 29 Mar 2023د.م541.9bد.م239.5bد.م26.9b18.5x20.2x2.3x
Price to Earnings Ratio

20.2x


Total Market Cap: د.م541.9bTotal Earnings: د.م26.9bTotal Revenue: د.م239.5bTotal 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 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 Market2.13%
Utilities4.26%
Industrials3.77%
Tech3.71%
Financials3.08%
Healthcare2.98%
Consumer Staples2.66%
Consumer Discretionary1.89%
Telecom1.67%
Real Estate1.08%
Energy0%0
Materials-1.00%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 36.5x.
    • 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 31.6x.
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
BOA Bank of Africaد.م219.507.6%
+د.م3.4b		12.0%PB1.6xFinancials
ATW Attijariwafa bankد.م692.001.8%
+د.م2.4b		0.7%PB2xFinancials
MSA Société d'Exploitation des Portsد.م775.003.6%
+د.م2.0b		4.2%PE40.2xIndustrials
GTM Societe Generale des Travaux du Marocد.م720.004.3%
+د.م1.8b		n/aPE36.4xIndustrials
TQM TAQA Moroccoد.م1.84k4.3%
+د.م1.8b		-8.2%PE44.9xUtilities
See more

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Latest News

MSA
د.م775.00
Société d'Exploitation des Ports
7D
3.6%
1Y
4.2%
TGC
د.م720.00
Travaux Généraux de Construction de Casablanca
7D
5.9%
1Y
-0.2%
CMT
د.م3,050.00
Compagnie Minière de Touissit
7D
-4.0%
1Y
55.8%
CSR
د.م188.00
Cosumar
7D
-1.1%
1Y
-13.0%
JET
د.م2,075.00
Jet Contractors
7D
-3.0%
1Y
-23.1%
MAB
د.م870.00
Société Maghrébine de Crédit-bail
7D
-5.8%
1Y
n/a
TQM
د.م1,835.00
TAQA Morocco
7D
4.3%
1Y
-8.2%
DHO
د.م55.10
delta holding
7D
-3.0%
1Y
-29.4%
GTM
د.م720.00
Societe Generale des Travaux du Maroc
7D
4.3%
1Y
n/a
ATW
د.م692.00
Attijariwafa bank
7D
1.8%
1Y
0.7%
SMI
د.م5,760.00
Societe Metallurgique d'Imiter société anonyme
7D
-12.7%
1Y
136.6%
LBV
د.م4,100.00
Label Vie
7D
13.9%
1Y
-7.9%
MNG
د.م7,901.00
Managem
7D
-1.3%
1Y
51.9%
BOA
د.م219.50
Bank of Africa
7D
7.6%
1Y
12.0%
BCP
د.م253.00
Banque Centrale Populaire
7D
3.3%
1Y
-10.3%
LES
د.م355.00
Lesieur Cristal
7D
-3.8%
1Y
22.4%