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Moroccan (MASI) Market Analysis & Valuation
UpdatedMay 22, 2025
DataAggregated Company Financials
Companies70
- 7D0.5%
- 3M9.4%
- 1Y35.1%
- YTD23.9%
Over the last 7 days, the market has remained flat, although notably the Utilities sector gained 15% in that time. More promisingly, the market is up 35% over the past year. Looking forward, earnings are forecast to grow by 15% 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, 22 May 2025 | د.م933.2b | د.م308.2b | د.م36.2b | 24.7x | 25.8x | 3x |
| Sat, 19 Apr 2025 | د.م883.6b | د.م299.8b | د.م34.4b | 23.1x | 25.7x | 2.9x |
| Mon, 17 Mar 2025 | د.م840.1b | د.م297.4b | د.م34.0b | 23.6x | 24.7x | 2.8x |
| Wed, 12 Feb 2025 | د.م823.9b | د.م297.8b | د.م33.0b | 22.5x | 24.9x | 2.8x |
| Fri, 10 Jan 2025 | د.م792.6b | د.م297.1b | د.م32.8b | 23.8x | 24.2x | 2.7x |
| Sun, 08 Dec 2024 | د.م739.3b | د.م294.4b | د.م32.5b | 22x | 22.7x | 2.5x |
| Tue, 05 Nov 2024 | د.م723.5b | د.م294.1b | د.م32.1b | 21.9x | 22.5x | 2.5x |
| Thu, 03 Oct 2024 | د.م722.3b | د.م292.9b | د.م31.6b | 22.3x | 22.8x | 2.5x |
| Sat, 31 Aug 2024 | د.م711.5b | د.م291.2b | د.م30.1b | 23.2x | 23.7x | 2.4x |
| Mon, 29 Jul 2024 | د.م702.9b | د.م291.2b | د.م34.0b | 22.2x | 20.7x | 2.4x |
| Wed, 26 Jun 2024 | د.م687.6b | د.م290.7b | د.م34.0b | 22x | 20.3x | 2.4x |
| Fri, 24 May 2024 | د.م683.7b | د.م288.7b | د.م33.0b | 22.1x | 20.7x | 2.4x |
| Sun, 21 Apr 2024 | د.م686.9b | د.م289.7b | د.م32.8b | 23.4x | 20.9x | 2.4x |
| Tue, 19 Mar 2024 | د.م663.9b | د.م281.9b | د.م32.6b | 22.1x | 20.4x | 2.4x |
| Thu, 15 Feb 2024 | د.م647.4b | د.م283.6b | د.م32.6b | 22.6x | 19.9x | 2.3x |
| Sat, 13 Jan 2024 | د.م639.3b | د.م283.1b | د.م32.7b | 21.4x | 19.6x | 2.3x |
| Mon, 11 Dec 2023 | د.م601.3b | د.م278.1b | د.م31.2b | 20.5x | 19.3x | 2.2x |
| Wed, 08 Nov 2023 | د.م605.0b | د.م275.7b | د.م30.2b | 20.2x | 20x | 2.2x |
| Fri, 06 Oct 2023 | د.م590.3b | د.م273.0b | د.م29.7b | 20.3x | 19.9x | 2.2x |
| Sun, 03 Sep 2023 | د.م604.8b | د.م270.2b | د.م29.9b | 20.1x | 20.3x | 2.2x |
| Tue, 01 Aug 2023 | د.م617.0b | د.م259.6b | د.م29.2b | 20.8x | 21.1x | 2.4x |
| Thu, 29 Jun 2023 | د.م588.3b | د.م263.3b | د.م27.1b | 20x | 21.7x | 2.2x |
| Sat, 27 May 2023 | د.م558.1b | د.م255.9b | د.م26.6b | 21x | 21x | 2.2x |
| Mon, 24 Apr 2023 | د.م537.6b | د.م251.3b | د.م27.6b | 17.9x | 19.5x | 2.1x |
| Wed, 22 Mar 2023 | د.م526.2b | د.م237.9b | د.م26.7b | 18.9x | 19.7x | 2.2x |
| Fri, 17 Feb 2023 | د.م547.8b | د.م234.6b | د.م27.5b | 18.9x | 20x | 2.3x |
| Sun, 15 Jan 2023 | د.م532.1b | د.م233.3b | د.م27.4b | 18.3x | 19.4x | 2.3x |
| Tue, 13 Dec 2022 | د.م572.3b | د.م257.6b | د.م28.1b | 20.7x | 20.3x | 2.2x |
| Thu, 10 Nov 2022 | د.م528.9b | د.م257.0b | د.م27.9b | 19x | 19x | 2.1x |
| Sat, 08 Oct 2022 | د.م596.3b | د.م251.4b | د.م28.3b | 21.3x | 21.1x | 2.4x |
| Mon, 05 Sep 2022 | د.م616.1b | د.م244.6b | د.م26.8b | 24.4x | 23x | 2.5x |
| Wed, 03 Aug 2022 | د.م601.1b | د.م244.6b | د.م26.8b | 23.1x | 22.4x | 2.5x |
| Fri, 01 Jul 2022 | د.م610.4b | د.م246.4b | د.م28.7b | 23.3x | 21.3x | 2.5x |
| Sun, 29 May 2022 | د.م625.0b | د.م243.6b | د.م28.3b | 23x | 22.1x | 2.6x |
Price to Earnings Ratio
22.1x
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 25.8x which is higher than its 3-year average PE of 21.5x.
Past Earnings Growth
- The earnings for Moroccan listed companies have grown 8.6% per year over the last three years.
- Revenues for these companies have grown 8.2% 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 | 0.51% | |
| Utilities | 15.01% | |
| Industrials | 0.42% | |
| Financials | -0.21% | |
| Telecom | -0.31% | |
| Consumer Staples | -0.40% | |
| Tech | -0.52% | |
| Materials | -0.76% | |
| Energy | -1.22% | |
| Consumer Discretionary | -1.48% | |
| Real Estate | -3.43% | |
| Healthcare | -3.53% | |
Sector PE
- Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 27.1x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 8.6%, which is higher than its past year's earnings growth of 1.5% per year.
- The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 16.7x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 34% over the next 5 years.
- This is better than its past earnings growth rate of 22% per year.
- In contrast, the Tech sector is expected to see its earnings grow by 5.5% 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 | |
|---|---|---|---|---|---|---|
| TQM TAQA Morocco | د.م3.16k | 15.0% +د.م9.7b | 131.5% | PE70.9x | Utilities | |
| ATW Attijariwafa bank | د.م685.00 | 1.3% +د.م1.8b | 33.0% | PB2.2x | Financials | |
| TGC Travaux Généraux de Construction de Casablanca | د.م822.50 | 3.1% +د.م778.3m | 161.1% | PE49.9x | Industrials | |
| CMG Compagnie Marocaine de Goutte à goutte et de Pompage | د.م337.95 | 5.6% +د.م305.2m | n/a | PE40.7x | Industrials | |
| LHM LafargeHolcim Maroc | د.م1.97k | 0.5% +د.م233.2m | -1.3% | PE25.2x | Materials |
