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Omani (MSM) Market Analysis & Valuation

UpdatedMar 13, 2026
DataAggregated Company Financials
Companies100
  • 7D4.9%
  • 3M29.0%
  • 1Y67.5%
  • YTD29.8%

The Financials and Energy sectors drove a 4.9% in the market over the last week. The market is up 67% over the last 12 months. Earnings are forecast to grow by 4.8% annually.

Trending IndustriesOil and GasRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Mar 2026ر.ع20.7bر.ع12.8bر.ع1.4b12.6x14.7x1.6x
Sun, 08 Feb 2026ر.ع17.4bر.ع12.5bر.ع1.4b11.5x12.5x1.4x
Tue, 06 Jan 2026ر.ع16.2bر.ع12.4bر.ع1.4b10.3x11.7x1.3x
Thu, 04 Dec 2025ر.ع15.8bر.ع12.4bر.ع1.4b10.3x11.4x1.3x
Sat, 01 Nov 2025ر.ع15.3bر.ع12.3bر.ع1.4b10.3x11.2x1.2x
Mon, 29 Sep 2025ر.ع14.3bر.ع12.1bر.ع1.4b10x10.5x1.2x
Wed, 27 Aug 2025ر.ع14.0bر.ع12.1bر.ع1.4b10.1x10.3x1.2x
Fri, 25 Jul 2025ر.ع13.1bر.ع12.0bر.ع1.3b10.6x10.2x1.1x
Sun, 22 Jun 2025ر.ع12.7bر.ع11.6bر.ع1.2b10x10.3x1.1x
Tue, 20 May 2025ر.ع12.2bر.ع11.6bر.ع1.2b9.8x9.9x1x
Thu, 17 Apr 2025ر.ع11.8bر.ع11.5bر.ع1.2b9.4x9.8x1x
Sat, 15 Mar 2025ر.ع12.3bر.ع11.2bر.ع1.2b9.9x10.6x1.1x
Mon, 10 Feb 2025ر.ع12.0bر.ع11.5bر.ع1.4b10.6x8.5x1x
Wed, 08 Jan 2025ر.ع12.3bر.ع10.1bر.ع699.7m11.4x17.6x1.2x
Fri, 06 Dec 2024ر.ع11.8bر.ع10.1bر.ع694.5m11.2x17x1.2x
Sun, 03 Nov 2024ر.ع12.0bر.ع10.1bر.ع676.7m10.7x17.8x1.2x
Tue, 01 Oct 2024ر.ع9.0bر.ع10.0bر.ع680.4m10.8x13.3x0.9x
Thu, 29 Aug 2024ر.ع9.1bر.ع10.0bر.ع680.1m11.2x13.4x0.9x
Sat, 27 Jul 2024ر.ع9.0bر.ع9.9bر.ع676.0m11.3x13.4x0.9x
Mon, 24 Jun 2024ر.ع9.0bر.ع9.9bر.ع677.2m12.3x13.3x0.9x
Wed, 22 May 2024ر.ع9.2bر.ع9.9bر.ع672.8m11.8x13.6x0.9x
Fri, 19 Apr 2024ر.ع9.1bر.ع9.8bر.ع674.5m12.1x13.6x0.9x
Sun, 17 Mar 2024ر.ع9.1bر.ع9.8bر.ع738.4m11.5x12.3x0.9x
Tue, 13 Feb 2024ر.ع8.9bر.ع9.5bر.ع737.7m11.5x12x0.9x
Thu, 11 Jan 2024ر.ع9.3bر.ع9.6bر.ع793.5m11.9x11.7x1x
Sat, 09 Dec 2023ر.ع9.3bر.ع9.6bر.ع790.0m11.9x11.8x1x
Mon, 06 Nov 2023ر.ع8.9bر.ع9.6bر.ع770.2m11.6x11.6x0.9x
Wed, 04 Oct 2023ر.ع8.7bر.ع9.4bر.ع626.2m12.2x13.9x0.9x
Fri, 01 Sep 2023ر.ع8.8bر.ع9.4bر.ع625.2m12.5x14.1x0.9x
Sun, 30 Jul 2023ر.ع8.8bر.ع9.3bر.ع596.0m13.6x14.8x0.9x
Tue, 27 Jun 2023ر.ع8.7bر.ع9.3bر.ع595.7m13.4x14.7x0.9x
Thu, 25 May 2023ر.ع8.5bر.ع9.3bر.ع575.9m12.3x14.8x0.9x
Sat, 22 Apr 2023ر.ع8.6bر.ع9.0bر.ع603.8m12.1x14.3x1x
Mon, 20 Mar 2023ر.ع8.7bر.ع9.0bر.ع571.7m12.2x15.2x1x
Price to Earnings Ratio

15.2x


Total Market Cap: ر.ع8.7bTotal Earnings: ر.ع571.7mTotal Revenue: ر.ع9.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Omani Market Price to Earnings3Y Average 12.5x202420252026
Current Market PE
  • Investors are optimistic on the Omani market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 14.7x which is higher than its 3-year average PE of 12.5x.
Past Earnings Growth
  • The earnings for Omani listed companies have grown 35% per year over the last three years.
  • Revenues for these companies have grown 13% 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 Omani Market?

OM Market4.87%
Industrials8.00%
Materials6.19%
Energy5.69%
Consumer Staples4.97%
Financials4.83%
Telecom2.88%
Real Estate0.67%
Healthcare0%0
Consumer Discretionary-0.34%
Utilities-1.74%
Sector PE
  • Investors favour the Materials sector the most for future growth even though it's trading below its 3-year average PE ratio of 91.5x.
    • Analysts are expecting annual earnings decline of 7.0%, which is less than its past year's earnings decline of 22.6% per year.
  • The Utilities sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 6.1x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 10% over the next 5 years.
  • This is better than its past earnings decline of 13% per year.
  • In contrast, the Materials sector is expected to see its earnings decline by 7.0% 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
BKMB Bank Muscat SAOGر.ع0.4812.7%
+ر.ع405.3m		88.2%PB1.4xFinancials
ASCO Asyad Shipping Company SAOGر.ع0.2814.2%
+ر.ع182.3m		128.5%PE25.6xEnergy
OQEP OQ Exploration and Production SAOGر.ع0.492.7%
+ر.ع103.6m		56.1%PE14xEnergy
OQGN OQ Gas Networks SAOGر.ع0.257.2%
+ر.ع73.6m		96.9%PE21.5xEnergy
OQBI OQ Base Industries (SFZ) SAOGر.ع0.267.9%
+ر.ع65.7m		153.9%PE18.8xMaterials
See more

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Latest News

BKSB
ر.ع0.22
Sohar International Bank SAOG
7D
1.4%
1Y
78.2%
BKNZ
ر.ع0.16
Bank Nizwa SAOG
7D
5.3%
1Y
60.6%
OQEP
ر.ع0.49
OQ Exploration and Production SAOG
7D
2.7%
1Y
56.1%
OQGN
ر.ع0.25
OQ Gas Networks SAOG
7D
7.2%
1Y
96.9%

OQGN: Softer Revenue Outlook And Board Actions Will Sustain Overvaluation

Analysts have held their fair value estimate for OQ Gas Networks SAOG steady at OMR0.198, with a slightly lower assumed revenue growth rate and a modestly higher profit margin and future P/E helping to justify the unchanged price target. What's in the News A board meeting is scheduled for March 5, 2026, to review and approve the audited financial statements for the period.
OTEL
ر.ع1.31
Oman Telecommunications Company SAOG
7D
1.9%
1Y
62.4%

ICT Expansion And Digital Platforms Will Shape A Stronger Telecom Future

Catalysts About Oman Telecommunications Company SAOG Oman Telecommunications Company SAOG operates as the leading integrated telecom and technology group in Oman with domestic, wholesale and international exposure through its stake in Zain Group. What are the underlying business or industry changes driving this perspective?
ABOB
ر.ع0.19
Ahli Bank SAOG
7D
-2.5%
1Y
10.2%
ORCI
ر.ع1.30
Oman Refreshment Company SAOG
7D
-3.7%
1Y
44.4%
BKMB
ر.ع0.48
Bank Muscat SAOG
7D
12.7%
1Y
88.2%

BKMB: Fair Value Will Likely Hold With Cash Dividend And Strong Capital Ratio

Analysts have kept their fair value estimate for Bank Muscat SAOG stable at OMR0.40533, with only marginal tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E that they view as fine tuning rather than a shift in outlook. What's in the News Board meeting scheduled for January 27, 2026, to consider and approve the financial results for the year ended December 31, 2025, and to consider and approve the dividend for 2025 (Key Developments) Proposal for an 18% cash dividend for 2025, equal to OMR 0.018 per ordinary share, with a total proposed payout of OMR 135.115m on the existing share capital, subject to AGM and regulatory approvals (Key Developments) The bank reports that its Capital Adequacy Ratio would be 19.66% after the proposed 2025 cash dividend payout, which it states is above the regulatory minimum (Key Developments) Special or Extraordinary Shareholders Meeting scheduled for March 17, 2026 (Key Developments) Valuation Changes Fair Value: Kept unchanged at OMR0.40533, indicating no revision to the overall valuation outcome.
ASCO
ر.ع0.28
Asyad Shipping Company SAOG
7D
14.2%
1Y
128.5%
AACT
ر.ع0.18
Al Anwar Ceramic Tiles Company SAOG
7D
-8.0%
1Y
62.8%
PHPC
ر.ع0.15
Phoenix Power Company SAOG
7D
-1.9%
1Y
149.2%
SUWP
ر.ع0.16
Al Suwadi Power Company SAOG
7D
-3.7%
1Y
140.0%
BATP
ر.ع0.16
Al Batinah Power Company SAOG
7D
-2.5%
1Y
134.3%
OQBI
ر.ع0.26
OQ Base Industries (SFZ) SAOG
7D
7.9%
1Y
153.9%
OAB
ر.ع0.19
Oman Arab Bank SAOG
7D
-3.0%
1Y
40.9%
BKDB
ر.ع0.19
Bank Dhofar SAOG
7D
-4.0%
1Y
30.3%