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Moroccan (MASI) Market Analysis & Valuation

UpdatedSep 15, 2026
DataAggregated Company Financials
Companies75
  • 7D-1.6%
  • 3M-0.8%
  • 1Y-0.7%
  • YTD1.2%

In the last week, the market has stayed flat, however the Healthcare sector stood out, gaining 3.0%. In line with that, the market has also been flat over the past year. Looking forward, earnings are forecast to grow by 11% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 15 Sep 2026د.م1.1tد.م356.3bد.م50.4b20x21.1x3x
Thu, 13 Aug 2026د.م1.1tد.م356.7bد.م50.5b19.7x21.6x3.1x
Sat, 11 Jul 2026د.م1.0tد.م355.4bد.م52.2b19.2x19.5x2.9x
Mon, 08 Jun 2026د.م1.1tد.م355.2bد.م52.2b20x20.3x3x
Wed, 06 May 2026د.م1.1tد.م342.1bد.م48.3b20.8x21.8x3.1x
Fri, 03 Apr 2026د.م972.8bد.م343.0bد.م46.8b21.2x20.8x2.8x
Sun, 01 Mar 2026د.م1.0tد.م341.6bد.م46.3b21.1x21.6x2.9x
Tue, 27 Jan 2026د.م1.0tد.م341.5bد.م46.4b22.9x21.8x3x
Thu, 25 Dec 2025د.م1.0tد.م325.7bد.م45.0b23x22.9x3.2x
Sat, 22 Nov 2025د.م948.9bد.م325.0bد.م44.9b21.7x21.1x2.9x
Mon, 20 Oct 2025د.م961.6bد.م321.7bد.م44.5b22.1x21.6x3x
Wed, 17 Sep 2025د.م1.0tد.م311.8bد.م43.4b24.2x23.5x3.3x
Fri, 15 Aug 2025د.م1.0tد.م311.2bد.م43.3b25.2x23.7x3.3x
Sun, 13 Jul 2025د.م980.8bد.م309.7bد.م37.3b24.4x26.3x3.2x
Tue, 10 Jun 2025د.م959.4bد.م313.4bد.م37.4b24.7x25.7x3.1x
Thu, 08 May 2025د.م903.9bد.م304.6bد.م35.8b24.3x25.3x3x
Sat, 05 Apr 2025د.م881.4bد.م299.6bد.م34.4b22.5x25.6x2.9x
Mon, 03 Mar 2025د.م847.0bد.م298.1bد.م33.6b22.9x25.2x2.8x
Wed, 29 Jan 2025د.م797.0bد.م297.1bد.م32.8b23x24.3x2.7x
Fri, 27 Dec 2024د.م738.0bد.م299.1bد.م32.8b22.1x22.5x2.5x
Sun, 24 Nov 2024د.م747.8bد.م294.1bد.م32.1b22.4x23.3x2.5x
Tue, 22 Oct 2024د.م715.9bد.م294.1bد.م32.1b21.5x22.3x2.4x
Thu, 19 Sep 2024د.م716.5bد.م290.2bد.م30.1b24.6x23.8x2.5x
Sat, 17 Aug 2024د.م710.1bد.م291.1bد.م30.0b22.6x23.7x2.4x
Mon, 15 Jul 2024د.م691.4bد.م290.7bد.م34.0b22.1x20.4x2.4x
Wed, 12 Jun 2024د.م675.6bد.م291.3bد.م34.0b22.2x19.9x2.3x
Fri, 10 May 2024د.م690.3bد.م289.7bد.م32.9b21.9x21x2.4x
Sun, 07 Apr 2024د.م665.1bد.م286.3bد.م32.6b23.3x20.4x2.3x
Tue, 05 Mar 2024د.م660.7bد.م281.3bد.م32.3b23.2x20.5x2.3x
Thu, 01 Feb 2024د.م635.2bد.م283.6bد.م32.7b21.5x19.4x2.2x
Sat, 30 Dec 2023د.م617.5bد.م284.5bد.م32.8b20.8x18.9x2.2x
Mon, 27 Nov 2023د.م603.5bد.م278.0bد.م31.4b20.2x19.2x2.2x
Wed, 25 Oct 2023د.م618.8bد.م275.4bد.م30.1b20.5x20.6x2.2x
Fri, 22 Sep 2023د.م596.3bد.م273.4bد.م30.6b20.3x19.5x2.2x
Price to Earnings Ratio

19.5x


Total Market Cap: د.م596.3bTotal Earnings: د.م30.6bTotal Revenue: د.م273.4bTotal 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 18% per year over the last three years.
  • Revenues for these companies have grown 9.3% 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-1.61%
Tech2.73%
Healthcare2.07%
Consumer Discretionary0.57%
Consumer Staples-0.33%
Financials-0.72%
Telecom-1.58%
Utilities-1.62%
Real Estate-1.70%
Materials-2.50%
Industrials-3.31%
Energy-6.08%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading close to its 3-year average PE ratio of 40.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 10.1% which is higher than its past year's earnings decline of 5.7% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 15.2x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 58% over the next 5 years.
  • This is better than its past earnings growth rate of 22% per year.
  • In contrast, the Consumer Discretionary sector is expected to see its earnings grow by 2.3% 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
SAH SanlamAllianz Marocد.م3.17k6.1%
+د.م966.9m		51.0%PE18.4xFinancials
SOT Société de Therapeutique Marocaineد.م368.905.4%
+د.م720.2m		-2.8%PE36.7xHealthcare
NEJ Auto Nejma Marocد.م5.62k6.0%
+د.م325.4m		n/aPE17.7xConsumer Discretionary
BOA Bank of Africaد.م191.500.4%
+د.م165.2m		-22.7%PB1.3xFinancials
CSR Cosumarد.م193.000.8%
+د.م141.7m		-13.1%PE25.9xConsumer Staples
See more

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NEJ
د.م5,621.00
Auto Nejma Maroc
7D
6.0%
1Y
n/a
SAH
د.م3,170.00
SanlamAllianz Maroc
7D
6.1%
1Y
51.0%
SOT
د.م368.90
Société de Therapeutique Marocaine
7D
5.4%
1Y
-2.8%
CMA
د.م1,647.00
Ciments du Maroc Société Anonyme
7D
-4.8%
1Y
-15.5%
LHM
د.م1,717.00
LafargeHolcim Maroc
7D
-2.4%
1Y
-9.6%
ARD
د.م449.90
Aradei Capital
7D
2.3%
1Y
-3.0%
CSR
د.م193.00
Cosumar
7D
0.8%
1Y
-13.1%
IAM
د.م95.80
Itissalat Al-Maghrib (IAM)
7D
-1.6%
1Y
-20.2%
AKT
د.م1,155.00
Akdital
7D
0.9%
1Y
-24.0%
TGC
د.م697.70
Travaux Généraux de Construction de Casablanca
7D
-4.8%
1Y
-28.1%
ATW
د.م700.00
Attijariwafa bank
7D
-0.8%
1Y
-9.1%
MNG
د.م1,700.00
Managem
7D
-2.2%
1Y
188.1%
BOA
د.م191.50
Bank of Africa
7D
0.4%
1Y
-22.7%
BCP
د.م242.60
Banque Centrale Populaire
7D
-2.6%
1Y
-22.0%
GTM
د.م600.10
Societe Generale des Travaux du Maroc
7D
-7.3%
1Y
n/a
LES
د.م310.00
Lesieur Cristal
7D
1.3%
1Y
14.8%