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Moroccan (MASI) Market Analysis & Valuation

UpdatedJul 26, 2026
DataAggregated Company Financials
Companies75
  • 7D1.0%
  • 3M-6.1%
  • 1Y-6.1%
  • YTD-4.3%

The market has climbed 1.0% in the last 7 days, lead by the Materials sector with a gain of 2.9%. In contrast, the market has seen a decline of 6.1% over the last 12 months. Looking forward, earnings are forecast to grow by 12% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 26 Jul 2026د.م1.0tد.م356.3bد.م50.6b18.9x19.9x2.8x
Tue, 23 Jun 2026د.م1.0tد.م355.4bد.م52.2b19.2x20x2.9x
Thu, 21 May 2026د.م1.0tد.م358.6bد.م51.7b19.9x19.9x2.9x
Sat, 18 Apr 2026د.م1.1tد.م340.3bد.م47.8b22.3x22.6x3.2x
Mon, 16 Mar 2026د.م931.2bد.م341.8bد.م46.3b20.9x20.1x2.7x
Wed, 11 Feb 2026د.م1.0tد.م341.3bد.م46.4b22.4x21.7x3x
Fri, 09 Jan 2026د.م1.1tد.م339.8bد.م46.2b23.9x22.9x3.1x
Sun, 07 Dec 2025د.م960.9bد.م325.3bد.م44.9b22.5x21.4x3x
Tue, 04 Nov 2025د.م1.0tد.م324.9bد.م44.8b23.6x22.8x3.1x
Thu, 02 Oct 2025د.م955.7bد.م315.6bد.م44.0b22.2x21.7x3x
Sat, 30 Aug 2025د.م1.0tد.م311.2bد.م43.4b25.4x24x3.3x
Mon, 28 Jul 2025د.م1.0tد.م309.4bد.م42.6b24x23.7x3.3x
Wed, 25 Jun 2025د.م940.6bد.م313.4bد.م37.4b23.3x25.2x3x
Fri, 23 May 2025د.م938.3bد.م308.3bد.م36.3b24.7x25.9x3x
Sun, 20 Apr 2025د.م883.6bد.م300.0bد.م34.4b23.1x25.7x2.9x
Tue, 18 Mar 2025د.م845.5bد.م297.4bد.م34.0b23.6x24.9x2.8x
Thu, 13 Feb 2025د.م828.4bد.م297.8bد.م33.0b23x25.1x2.8x
Sat, 11 Jan 2025د.م796.8bد.م297.1bد.م32.8b23.8x24.3x2.7x
Mon, 09 Dec 2024د.م739.3bد.م294.4bد.م32.5b22x22.7x2.5x
Wed, 06 Nov 2024د.م723.7bد.م294.1bد.م32.1b21.8x22.5x2.5x
Fri, 04 Oct 2024د.م720.0bد.م294.2bد.م32.2b22.2x22.4x2.4x
Sun, 01 Sep 2024د.م711.5bد.م291.2bد.م30.1b23.2x23.7x2.4x
Tue, 30 Jul 2024د.م708.2bد.م291.4bد.م34.1b22.4x20.8x2.4x
Thu, 27 Jun 2024د.م684.7bد.م290.7bد.م34.0b22.1x20.2x2.4x
Sat, 25 May 2024د.م684.0bد.م288.7bد.م33.0b22x20.7x2.4x
Mon, 22 Apr 2024د.م686.9bد.م289.7bد.م32.8b23.4x20.9x2.4x
Wed, 20 Mar 2024د.م661.2bد.م281.9bد.م32.6b22.1x20.3x2.3x
Fri, 16 Feb 2024د.م645.3bد.م283.6bد.م32.6b22.7x19.8x2.3x
Sun, 14 Jan 2024د.م639.3bد.م283.1bد.م32.7b21.4x19.6x2.3x
Tue, 12 Dec 2023د.م605.5bد.م278.1bد.م31.2b20.4x19.4x2.2x
Thu, 09 Nov 2023د.م604.0bد.م275.7bد.م30.2b20.2x20x2.2x
Sat, 07 Oct 2023د.م622.8bد.م272.9bد.م29.7b21.4x21x2.3x
Mon, 04 Sep 2023د.م604.8bد.م270.2bد.م29.9b20.1x20.3x2.2x
Wed, 02 Aug 2023د.م618.6bد.م259.6bد.م29.2b20.7x21.1x2.4x
Price to Earnings Ratio

21.1x


Total Market Cap: د.م618.6bTotal Earnings: د.م29.2bTotal Revenue: د.م259.6bTotal 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 11% 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 Market1.05%
Utilities4.00%
Materials2.88%
Telecom1.10%
Healthcare0.75%
Financials0.72%
Consumer Discretionary0.51%
Industrials-0.12%
Real Estate-0.90%
Tech-1.23%
Energy-1.30%
Consumer Staples-1.73%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading close to its 3-year average PE ratio of 39.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 12.5% 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 15.5x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 59% over the next 5 years.
  • This is better than its past earnings growth rate of 22% per year.
  • In contrast, the Telecom 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?

CompanyLast Price7D1YValuationSector
ATW Attijariwafa bankد.م690.001.3%
+د.م1.8b		-6.1%PB1.9xFinancials
TQM TAQA Moroccoد.م1.77k4.0%
+د.م1.6b		-40.9%PE41.9xUtilities
BOA Bank of Africaد.م193.703.5%
+د.م1.5b		-25.4%PB1.3xFinancials
LHM LafargeHolcim Marocد.م1.75k2.9%
+د.م1.1b		-12.5%PE18.8xMaterials
IAM Itissalat Al-Maghrib (IAM)د.م90.991.1%
+د.م870.3m		-26.0%PE15xTelecom
See more

Market Insights

Header cover image
Healthcare just hit its lowest market weight since 1994. But dig deeper into the sector, and the collapse starts to look like a costume in some ways.
Continue reading
A brand’s strength doesn’t always last

Latest News

CSR
د.م181.95
Cosumar
7D
-6.2%
1Y
-24.8%
SID
د.م1,945.00
SONASID
7D
-2.5%
1Y
-22.2%
ADI
د.م360.00
Alliances Developpement Immobilier
7D
-2.7%
1Y
-25.3%
SAH
د.م2,947.00
Sanlam Maroc
7D
-3.3%
1Y
50.5%
BOA
د.م193.70
Bank of Africa
7D
3.5%
1Y
-25.4%
MSA
د.م880.00
Société d'Exploitation des Ports
7D
1.1%
1Y
0%
TQM
د.م1,768.00
TAQA Morocco
7D
4.0%
1Y
-40.9%
ATW
د.م690.00
Attijariwafa bank
7D
1.3%
1Y
-6.1%
CMA
د.م1,659.00
Ciments du Maroc Société Anonyme
7D
3.0%
1Y
-19.6%
WAA
د.م5,150.00
Wafa Assurance
7D
-1.0%
1Y
-2.8%
TMA
د.م1,455.00
TotalEnergies Marketing Maroc
7D
-2.3%
1Y
-15.9%
GTM
د.م680.00
Societe Generale des Travaux du Maroc
7D
-2.2%
1Y
n/a
LHM
د.م1,750.00
LafargeHolcim Maroc
7D
2.9%
1Y
-12.5%
IAM
د.م90.99
Itissalat Al-Maghrib (IAM)
7D
1.1%
1Y
-26.0%
CDM
د.م975.00
Crédit du Maroc
7D
3.5%
1Y
-7.1%
CAP
د.م241.10
Cash Plus
7D
-3.6%
1Y
n/a