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Moroccan (MASI) Market Analysis & Valuation
UpdatedApr 03, 2025
DataAggregated Company Financials
Companies69
- 7D0.8%
- 3M20.2%
- 1Y34.8%
- YTD20.1%
Over the last 7 days, the market has remained flat, although notably the Communication Services sector gained 5.7% in that time. As for the longer term, the market has risen 35% in the past 12 months. Earnings are forecast to grow by 17% 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, 03 Apr 2025 | د.م904.3b | د.م299.5b | د.م34.8b | 23.3x | 26x | 3x |
| Sat, 01 Mar 2025 | د.م856.8b | د.م298.1b | د.م33.6b | 22.9x | 25.5x | 2.9x |
| Mon, 27 Jan 2025 | د.م795.8b | د.م297.1b | د.م32.8b | 23.2x | 24.3x | 2.7x |
| Wed, 25 Dec 2024 | د.م738.2b | د.م299.1b | د.م32.8b | 22.1x | 22.5x | 2.5x |
| Fri, 22 Nov 2024 | د.م746.2b | د.م294.1b | د.م32.1b | 21.9x | 23.2x | 2.5x |
| Sun, 20 Oct 2024 | د.م715.0b | د.م294.1b | د.م32.1b | 21.8x | 22.3x | 2.4x |
| Tue, 17 Sep 2024 | د.م712.0b | د.م290.4b | د.م30.2b | 24x | 23.6x | 2.5x |
| Thu, 15 Aug 2024 | د.م705.4b | د.م291.1b | د.م30.0b | 22.3x | 23.5x | 2.4x |
| Sat, 13 Jul 2024 | د.م691.4b | د.م290.7b | د.م34.0b | 22.1x | 20.4x | 2.4x |
| Mon, 10 Jun 2024 | د.م674.7b | د.م290.4b | د.م33.9b | 21.9x | 19.9x | 2.3x |
| Wed, 08 May 2024 | د.م685.3b | د.م289.9b | د.م32.9b | 21.8x | 20.8x | 2.4x |
| Fri, 05 Apr 2024 | د.م664.9b | د.م282.3b | د.م32.5b | 23.3x | 20.5x | 2.4x |
| Sun, 03 Mar 2024 | د.م661.4b | د.م281.6b | د.م32.3b | 23.1x | 20.5x | 2.3x |
| Tue, 30 Jan 2024 | د.م634.8b | د.م283.6b | د.م32.7b | 22.5x | 19.4x | 2.2x |
| Thu, 28 Dec 2023 | د.م617.4b | د.م284.5b | د.م32.8b | 20.4x | 18.8x | 2.2x |
| Sat, 25 Nov 2023 | د.م603.5b | د.م278.0b | د.م31.4b | 20.2x | 19.2x | 2.2x |
| Mon, 23 Oct 2023 | د.م617.5b | د.م275.4b | د.م30.1b | 20.6x | 20.5x | 2.2x |
| Wed, 20 Sep 2023 | د.م598.4b | د.م273.2b | د.م30.7b | 19.9x | 19.5x | 2.2x |
| Fri, 18 Aug 2023 | د.م611.1b | د.م264.8b | د.م29.5b | 20.7x | 20.7x | 2.3x |
| Sun, 16 Jul 2023 | د.م589.0b | د.م258.7b | د.م26.8b | 20.6x | 22x | 2.3x |
| Tue, 13 Jun 2023 | د.م561.8b | د.م255.6b | د.م26.6b | 21.1x | 21.1x | 2.2x |
| Thu, 11 May 2023 | د.م536.3b | د.م252.8b | د.م27.3b | 19.5x | 19.7x | 2.1x |
| Sat, 08 Apr 2023 | د.م538.1b | د.م239.6b | د.م26.8b | 18.7x | 20.1x | 2.2x |
| Mon, 06 Mar 2023 | د.م552.2b | د.م238.1b | د.م26.7b | 19.1x | 20.6x | 2.3x |
| Wed, 01 Feb 2023 | د.م532.5b | د.م234.6b | د.م27.5b | 18.3x | 19.4x | 2.3x |
| Fri, 30 Dec 2022 | د.م557.8b | د.م233.0b | د.م27.4b | 19.9x | 20.3x | 2.4x |
| Sun, 27 Nov 2022 | د.م549.2b | د.م257.2b | د.م28.0b | 19.1x | 19.6x | 2.1x |
| Tue, 25 Oct 2022 | د.م557.0b | د.م256.5b | د.م27.7b | 20.2x | 20.1x | 2.2x |
| Thu, 22 Sep 2022 | د.م620.6b | د.م236.1b | د.م26.9b | 24.8x | 23.1x | 2.6x |
| Sat, 20 Aug 2022 | د.م617.2b | د.م244.6b | د.م26.8b | 23.9x | 23x | 2.5x |
| Mon, 18 Jul 2022 | د.م600.9b | د.م244.8b | د.م29.2b | 21.9x | 20.6x | 2.5x |
| Wed, 15 Jun 2022 | د.م623.2b | د.م246.4b | د.م28.2b | 23.2x | 22.1x | 2.5x |
| Fri, 13 May 2022 | د.م640.0b | د.م240.1b | د.م27.9b | 23.2x | 22.9x | 2.7x |
| Sun, 10 Apr 2022 | د.م652.6b | د.م235.6b | د.م27.2b | 24x | 24x | 2.8x |
Price to Earnings Ratio
24x
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 26.0x which is higher than its 3-year average PE of 21.4x.
Past Earnings Growth
- The earnings for Moroccan listed companies have grown 8.5% per year over the last three years.
- Revenues for these companies have grown 8.3% 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 | 0.79% | |
| Telecom | 5.68% | |
| Healthcare | 2.42% | |
| Consumer Discretionary | 2.02% | |
| Consumer Staples | 1.19% | |
| Tech | 1.09% | |
| Industrials | 0.70% | |
| Energy | 0.12% | |
| Financials | 0.041% | |
| Materials | -0.0062% | |
| Utilities | -0.93% | |
| Real Estate | -1.98% | |
Sector PE
- Investors favour the Telecom 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 30.5% which is higher than its past year's earnings decline of 65.9% per year.
- The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 16.9x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 40% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- 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?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| IAM Itissalat Al-Maghrib (IAM) | د.م116.35 | 2.5% +د.م2.5b | 16.4% | PE56.8x | Telecom | |
| TMA TotalEnergies Marketing Maroc | د.م1.82k | 5.9% +د.م905.0m | 30.6% | PE45.4x | Consumer Discretionary | |
| CSR Cosumar | د.م222.60 | 4.1% +د.م826.8m | 13.0% | PE20x | Consumer Staples | |
| SMI Societe Metallurgique d'Imiter société anonyme | د.م2.45k | 8.3% +د.م309.3m | 52.2% | n/a | Materials | |
| DHO delta holding | د.م81.01 | 3.9% +د.م263.7m | 105.6% | PE24x | Industrials |
