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Moroccan (MASI) Market Analysis & Valuation
UpdatedAug 24, 2025
DataAggregated Company Financials
Companies72
- 7D0.6%
- 3M9.6%
- 1Y42.9%
- YTD35.9%
The market has stayed flat over the 7 days. More promisingly, the market is up 43% over the past year. As for the next few years, earnings are expected to grow by 12% 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 |
|---|---|---|---|---|---|---|
| Sun, 24 Aug 2025 | د.م1.0t | د.م311.2b | د.م43.3b | 25.5x | 23.9x | 3.3x |
| Tue, 22 Jul 2025 | د.م992.9b | د.م309.7b | د.م37.3b | 24.2x | 26.6x | 3.2x |
| Thu, 19 Jun 2025 | د.م924.4b | د.م313.4b | د.م37.4b | 23.3x | 24.7x | 2.9x |
| Sat, 17 May 2025 | د.م916.4b | د.م312.9b | د.م36.3b | 24.3x | 25.3x | 2.9x |
| Mon, 14 Apr 2025 | د.م821.3b | د.م299.7b | د.م34.4b | 21.6x | 23.9x | 2.7x |
| Wed, 12 Mar 2025 | د.م832.8b | د.م298.2b | د.م34.1b | 23.2x | 24.4x | 2.8x |
| Fri, 07 Feb 2025 | د.م823.2b | د.م297.1b | د.م32.8b | 23.4x | 25.1x | 2.8x |
| Sun, 05 Jan 2025 | د.م775.7b | د.م297.1b | د.م32.8b | 23x | 23.7x | 2.6x |
| Tue, 03 Dec 2024 | د.م738.1b | د.م294.4b | د.م32.5b | 22.1x | 22.7x | 2.5x |
| Thu, 31 Oct 2024 | د.م717.5b | د.م294.1b | د.م32.1b | 22.7x | 22.3x | 2.4x |
| Sat, 28 Sep 2024 | د.م734.4b | د.م292.2b | د.م30.9b | 23.9x | 23.8x | 2.5x |
| Mon, 26 Aug 2024 | د.م714.2b | د.م291.3b | د.م30.1b | 22.9x | 23.8x | 2.5x |
| Wed, 24 Jul 2024 | د.م694.6b | د.م291.2b | د.م34.0b | 22x | 20.4x | 2.4x |
| Fri, 21 Jun 2024 | د.م672.8b | د.م290.7b | د.م34.0b | 22.4x | 19.8x | 2.3x |
| Sun, 19 May 2024 | د.م686.2b | د.م289.7b | د.م33.0b | 21.9x | 20.8x | 2.4x |
| Tue, 16 Apr 2024 | د.م677.4b | د.م289.4b | د.م32.8b | 22.6x | 20.7x | 2.3x |
| Thu, 14 Mar 2024 | د.م653.7b | د.م281.7b | د.م32.5b | 22.4x | 20.1x | 2.3x |
| Sat, 10 Feb 2024 | د.م640.4b | د.م283.7b | د.م32.7b | 22.3x | 19.6x | 2.3x |
| Mon, 08 Jan 2024 | د.م632.0b | د.م282.8b | د.م32.7b | 20.9x | 19.3x | 2.2x |
| Wed, 06 Dec 2023 | د.م593.5b | د.م278.1b | د.م31.3b | 20.4x | 18.9x | 2.1x |
| Fri, 03 Nov 2023 | د.م605.7b | د.م275.7b | د.م30.2b | 20.8x | 20.1x | 2.2x |
| Sun, 01 Oct 2023 | د.م600.3b | د.م273.5b | د.م30.6b | 20.5x | 19.6x | 2.2x |
| Tue, 29 Aug 2023 | د.م605.2b | د.م264.7b | د.م29.4b | 20.7x | 20.6x | 2.3x |
| Thu, 27 Jul 2023 | د.م605.6b | د.م258.7b | د.م26.8b | 21x | 22.6x | 2.3x |
| Sat, 24 Jun 2023 | د.م587.1b | د.م263.3b | د.م27.1b | 20.2x | 21.7x | 2.2x |
| Mon, 22 May 2023 | د.م549.3b | د.م253.0b | د.م27.0b | 21.1x | 20.3x | 2.2x |
| Wed, 19 Apr 2023 | د.م537.7b | د.م245.8b | د.م27.5b | 18.5x | 19.5x | 2.2x |
| Fri, 17 Mar 2023 | د.م542.2b | د.م238.9b | د.م26.9b | 18x | 20.1x | 2.3x |
| Sun, 12 Feb 2023 | د.م554.4b | د.م234.6b | د.م27.5b | 19.5x | 20.2x | 2.4x |
| Tue, 10 Jan 2023 | د.م505.1b | د.م233.1b | د.م27.4b | 17.1x | 18.4x | 2.2x |
| Thu, 08 Dec 2022 | د.م572.6b | د.م256.9b | د.م27.8b | 19.9x | 20.6x | 2.2x |
| Sat, 05 Nov 2022 | د.م545.4b | د.م256.5b | د.م27.7b | 19.1x | 19.7x | 2.1x |
| Mon, 03 Oct 2022 | د.م590.6b | د.م247.2b | د.م27.3b | 23.1x | 21.7x | 2.4x |
| Wed, 31 Aug 2022 | د.م614.7b | د.م244.6b | د.م26.8b | 23.9x | 22.9x | 2.5x |
Price to Earnings Ratio
22.9x
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 8.4% 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 | 0.59% | |
| Utilities | 1.72% | |
| Tech | 1.33% | |
| Materials | 1.18% | |
| Financials | 0.95% | |
| Industrials | 0.50% | |
| Telecom | 0.42% | |
| Energy | 0% | 0 |
| Consumer Discretionary | -0.073% | |
| Healthcare | -0.88% | |
| Real Estate | -1.07% | |
| Consumer Staples | -1.51% | |
Sector PE
- Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 30.4x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 9.3% which is higher than its past year's earnings decline of 2.2% per year.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 33.9x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 36% over the next 5 years.
- This is better than its past earnings growth rate of 22% per year.
- In contrast, the Telecom sector is expected to see its earnings decline by 6.5% 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 | |
|---|---|---|---|---|---|---|
| ATW Attijariwafa bank | د.م789.90 | 3.9% +د.م6.0b | 45.2% | PB2.5x | Financials | |
| TQM TAQA Morocco | د.م2.95k | 1.7% +د.م1.2b | 123.8% | PE66x | Utilities | |
| LHM LafargeHolcim Maroc | د.م2.03k | 1.3% +د.م629.6m | 3.0% | PE25.9x | Materials | |
| MNG Managem | د.م5.55k | 1.0% +د.م628.8m | 102.7% | PE106.3x | Materials | |
| CMA Ciments du Maroc Société Anonyme | د.م2.04k | 1.8% +د.م534.1m | 12.1% | PE32.2x | Materials |
