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Omani (MSM) Market Analysis & Valuation
UpdatedJan 30, 2026
DataAggregated Company Financials
Companies100
- 7D1.9%
- 3M12.1%
- 1Y33.2%
- YTD7.4%
The market is up 1.9% over the last week, with the Financials sector leading the way, up 2.1%. As for the past 12 months, the market is up 33%. As for the next few years, earnings are expected to grow by 6.7% per annum.
Market Valuation and Performance
Has the Omani Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 30 Jan 2026 | ر.ع17.1b | ر.ع12.5b | ر.ع1.5b | 10.9x | 11.8x | 1.4x |
| Sun, 28 Dec 2025 | ر.ع16.1b | ر.ع12.4b | ر.ع1.4b | 10.2x | 11.6x | 1.3x |
| Tue, 25 Nov 2025 | ر.ع15.4b | ر.ع12.4b | ر.ع1.4b | 10.4x | 11.2x | 1.2x |
| Thu, 23 Oct 2025 | ر.ع14.9b | ر.ع12.3b | ر.ع1.4b | 10.4x | 11x | 1.2x |
| Sat, 20 Sep 2025 | ر.ع14.2b | ر.ع12.1b | ر.ع1.4b | 9.9x | 10.4x | 1.2x |
| Mon, 18 Aug 2025 | ر.ع13.7b | ر.ع12.1b | ر.ع1.4b | 10.2x | 10.1x | 1.1x |
| Wed, 16 Jul 2025 | ر.ع12.9b | ر.ع11.7b | ر.ع1.2b | 10.6x | 10.6x | 1.1x |
| Fri, 13 Jun 2025 | ر.ع12.7b | ر.ع11.6b | ر.ع1.2b | 10x | 10.3x | 1.1x |
| Sun, 11 May 2025 | ر.ع11.8b | ر.ع11.6b | ر.ع1.2b | 9.8x | 9.7x | 1x |
| Tue, 08 Apr 2025 | ر.ع11.7b | ر.ع11.5b | ر.ع1.2b | 9.8x | 9.7x | 1x |
| Thu, 06 Mar 2025 | ر.ع11.8b | ر.ع11.4b | ر.ع1.4b | 10.1x | 8.3x | 1x |
| Sat, 01 Feb 2025 | ر.ع12.0b | ر.ع10.4b | ر.ع901.6m | 10.3x | 13.3x | 1.2x |
| Mon, 30 Dec 2024 | ر.ع12.0b | ر.ع10.1b | ر.ع699.7m | 10.9x | 17.2x | 1.2x |
| Wed, 27 Nov 2024 | ر.ع11.8b | ر.ع10.1b | ر.ع689.5m | 10.4x | 17.1x | 1.2x |
| Fri, 25 Oct 2024 | ر.ع9.2b | ر.ع10.1b | ر.ع685.0m | 10.7x | 13.5x | 0.9x |
| Sun, 22 Sep 2024 | ر.ع9.1b | ر.ع10.0b | ر.ع680.4m | 11x | 13.4x | 0.9x |
| Tue, 20 Aug 2024 | ر.ع9.0b | ر.ع10.0b | ر.ع681.3m | 11.4x | 13.2x | 0.9x |
| Thu, 18 Jul 2024 | ر.ع9.1b | ر.ع9.9b | ر.ع698.5m | 11.4x | 13x | 0.9x |
| Sat, 15 Jun 2024 | ر.ع9.1b | ر.ع9.9b | ر.ع675.8m | 12.2x | 13.4x | 0.9x |
| Mon, 13 May 2024 | ر.ع9.2b | ر.ع9.9b | ر.ع685.2m | 11.6x | 13.4x | 0.9x |
| Wed, 10 Apr 2024 | ر.ع9.1b | ر.ع9.8b | ر.ع664.0m | 11.6x | 13.7x | 0.9x |
| Fri, 08 Mar 2024 | ر.ع9.1b | ر.ع9.7b | ر.ع739.9m | 11.5x | 12.2x | 0.9x |
| Sun, 04 Feb 2024 | ر.ع9.3b | ر.ع9.7b | ر.ع810.9m | 11.3x | 11.4x | 1x |
| Tue, 02 Jan 2024 | ر.ع9.3b | ر.ع9.6b | ر.ع794.2m | 11.6x | 11.7x | 1x |
| Thu, 30 Nov 2023 | ر.ع9.4b | ر.ع9.6b | ر.ع790.0m | 12.3x | 11.9x | 1x |
| Sat, 28 Oct 2023 | ر.ع9.0b | ر.ع9.5b | ر.ع761.2m | 12.1x | 11.8x | 0.9x |
| Mon, 25 Sep 2023 | ر.ع8.7b | ر.ع9.5b | ر.ع625.2m | 11.7x | 13.8x | 0.9x |
| Wed, 23 Aug 2023 | ر.ع8.8b | ر.ع9.4b | ر.ع623.0m | 12.9x | 14.1x | 0.9x |
| Fri, 21 Jul 2023 | ر.ع8.8b | ر.ع9.3b | ر.ع596.4m | 13.6x | 14.8x | 0.9x |
| Sun, 18 Jun 2023 | ر.ع8.6b | ر.ع9.3b | ر.ع578.8m | 12.7x | 14.8x | 0.9x |
| Tue, 16 May 2023 | ر.ع8.6b | ر.ع9.1b | ر.ع618.5m | 13.2x | 13.9x | 0.9x |
| Thu, 13 Apr 2023 | ر.ع8.6b | ر.ع9.0b | ر.ع594.9m | 12x | 14.4x | 1x |
| Sat, 11 Mar 2023 | ر.ع8.5b | ر.ع8.8b | ر.ع558.2m | 12.2x | 15.2x | 1x |
| Mon, 06 Feb 2023 | ر.ع8.3b | ر.ع8.7b | ر.ع553.8m | 11.2x | 15x | 1x |
Price to Earnings Ratio
15x
Current Market PE
- Investors are relatively neutral on the Omani 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 12.5x.
Past Earnings Growth
- The earnings for Omani listed companies have grown 38% 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 Market | 1.86% | |
| Industrials | 6.04% | |
| Materials | 2.38% | |
| Financials | 2.09% | |
| Energy | 1.64% | |
| Telecom | 1.27% | |
| Consumer Staples | 0.33% | |
| Healthcare | 0% | 0 |
| Utilities | -0.45% | |
| Consumer Discretionary | -1.32% | |
| Real Estate | -1.98% | |
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 90.6x.
- Analysts are expecting annual earnings decline of 7.7%, which is less than its past year's earnings decline of 18.0% 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 6.0x.
Forecasted Growth
- Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 19% over the next 5 years.
- This is better than its past earnings decline of 28% per year.
- In contrast, the Materials sector is expected to see its earnings decline by 7.7% 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 | |
|---|---|---|---|---|---|---|
| OQEP OQ Exploration and Production SAOG | ر.ع0.40 | 2.3% +ر.ع72.0m | 23.7% | PE10.8x | Energy | |
| BKMB Bank Muscat SAOG | ر.ع0.36 | 2.6% +ر.ع67.6m | 41.0% | PB1x | Financials | |
| VOES Voltamp Energy SAOG | ر.ع1.70 | 17.6% +ر.ع23.9m | 291.0% | PE11.2x | Industrials | |
| BKNZ Bank Nizwa SAOG | ر.ع0.13 | 8.3% +ر.ع22.4m | 31.0% | PB0.2x | Financials | |
| BKSB Sohar International Bank SAOG | ر.ع0.16 | 1.9% +ر.ع19.9m | 17.1% | PB1x | Financials |