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Omani (MSM) Market Analysis & Valuation

UpdatedApr 27, 2026
DataAggregated Company Financials
Companies99
  • 7D-1.9%
  • 3M27.9%
  • 1Y82.5%
  • YTD34.7%

Over the last 7 days, the market has dropped 1.9%, driven by a loss of 2.4% in the Financials sector. As for the longer term, the market has actually risen by 83% in the last year. Earnings are forecast to grow by 5.7% annually.

Trending IndustriesOil and GasRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 28 Apr 2026ر.ع21.4bر.ع13.1bر.ع1.4b13.6x15.2x1.6x
Thu, 26 Mar 2026ر.ع21.0bر.ع12.9bر.ع1.4b13.4x14.8x1.6x
Sat, 21 Feb 2026ر.ع19.4bر.ع12.4bر.ع1.4b12.3x14x1.6x
Mon, 19 Jan 2026ر.ع16.8bر.ع12.4bر.ع1.4b10.7x12x1.4x
Wed, 17 Dec 2025ر.ع16.0bر.ع12.4bر.ع1.4b10.2x11.5x1.3x
Fri, 14 Nov 2025ر.ع15.6bر.ع12.3bر.ع1.4b10.5x11.5x1.3x
Sun, 12 Oct 2025ر.ع14.5bر.ع12.1bر.ع1.4b10.1x10.6x1.2x
Tue, 09 Sep 2025ر.ع14.1bر.ع12.1bر.ع1.4b10.5x10.3x1.2x
Thu, 07 Aug 2025ر.ع13.4bر.ع12.0bر.ع1.3b10.5x10.3x1.1x
Sat, 05 Jul 2025ر.ع12.8bر.ع11.6bر.ع1.2b10.1x10.5x1.1x
Mon, 02 Jun 2025ر.ع12.5bر.ع11.6bر.ع1.2b10.2x10.2x1.1x
Wed, 30 Apr 2025ر.ع11.7bر.ع11.5bر.ع1.2b9.6x9.6x1x
Fri, 28 Mar 2025ر.ع12.4bر.ع11.5bر.ع1.2b9.9x10.1x1.1x
Sun, 23 Feb 2025ر.ع11.7bر.ع11.5bر.ع1.4b10.4x8.3x1x
Tue, 21 Jan 2025ر.ع12.3bر.ع10.1bر.ع872.5m10.6x14.1x1.2x
Thu, 19 Dec 2024ر.ع11.8bر.ع10.1bر.ع699.7m10.8x16.9x1.2x
Sat, 16 Nov 2024ر.ع11.9bر.ع10.1bر.ع685.2m10.5x17.4x1.2x
Mon, 14 Oct 2024ر.ع9.2bر.ع10.0bر.ع682.3m10.9x13.4x0.9x
Wed, 11 Sep 2024ر.ع9.2bر.ع10.0bر.ع680.1m11x13.5x0.9x
Fri, 09 Aug 2024ر.ع9.0bر.ع10.0bر.ع682.0m11.4x13.2x0.9x
Sun, 07 Jul 2024ر.ع9.1bر.ع9.9bر.ع679.0m11.7x13.4x0.9x
Tue, 04 Jun 2024ر.ع9.3bر.ع9.9bر.ع673.4m12x13.7x0.9x
Thu, 02 May 2024ر.ع9.2bر.ع9.8bر.ع680.2m12.1x13.5x0.9x
Sat, 30 Mar 2024ر.ع9.0bر.ع9.7bر.ع647.1m11.2x13.9x0.9x
Mon, 26 Feb 2024ر.ع8.8bر.ع9.6bر.ع741.1m11.3x11.9x0.9x
Wed, 24 Jan 2024ر.ع9.3bر.ع9.7bر.ع786.6m11.5x11.9x1x
Fri, 22 Dec 2023ر.ع9.2bر.ع9.6bر.ع790.5m11.7x11.7x1x
Sun, 19 Nov 2023ر.ع9.2bر.ع9.7bر.ع776.6m12.2x11.9x1x
Tue, 17 Oct 2023ر.ع8.8bر.ع9.5bر.ع630.6m11.8x13.9x0.9x
Thu, 14 Sep 2023ر.ع8.7bر.ع9.4bر.ع625.2m12.3x13.9x0.9x
Sat, 12 Aug 2023ر.ع8.8bر.ع9.3bر.ع587.4m13.5x15x0.9x
Mon, 10 Jul 2023ر.ع8.8bر.ع9.3bر.ع595.7m13.7x14.7x0.9x
Wed, 07 Jun 2023ر.ع8.5bر.ع9.3bر.ع577.1m12.6x14.8x0.9x
Fri, 05 May 2023ر.ع8.6bر.ع9.1bر.ع619.9m12.8x13.9x1x
Price to Earnings Ratio

13.9x


Total Market Cap: ر.ع8.6bTotal Earnings: ر.ع619.9mTotal Revenue: ر.ع9.1bTotal 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 15.2x which is higher than its 3-year average PE of 12.5x.
Past Earnings Growth
  • The earnings for Omani listed companies have grown 32% 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-1.15%
Consumer Discretionary1.63%
Real Estate1.29%
Healthcare0%0
Consumer Staples-0.65%
Telecom-0.71%
Financials-0.91%
Energy-1.31%
Materials-1.77%
Utilities-2.02%
Industrials-2.20%
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 92.5x.
    • Analysts are expecting annual earnings decline of 14.6% which is lower than the prior year's growth of 19.6% per year.
  • The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 27.0x.
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 0.7% per year.
  • In contrast, the Materials sector is expected to see its earnings decline by 15% 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
OQEP OQ Exploration and Production SAOGر.ع0.512.6%
+ر.ع103.6m		87.5%PE14.7xEnergy
NBOB National Bank of Oman SAOGر.ع0.402.8%
+ر.ع17.9m		36.0%PB0.6xFinancials
BKSB Sohar International Bank SAOGر.ع0.230.9%
+ر.ع13.2m		75.8%PB1.3xFinancials
OFMI Oman Flour Mills Company SAOGر.ع0.596.7%
+ر.ع6.4m		34.0%PE10xConsumer Staples
OAB Oman Arab Bank SAOGر.ع0.201.0%
+ر.ع4.0m		39.3%PB0.6xFinancials
See more

Market Insights

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Latest News

BKDB
ر.ع0.22
Bank Dhofar SAOG
7D
-3.1%
1Y
46.6%

Branch Expansion And Rising Fixed Costs Will Pressure Returns Over The Next Decade

Catalysts About Bank Dhofar SAOG Bank Dhofar SAOG is an Oman based bank that offers conventional and Islamic banking services to retail, corporate, government and treasury clients. What are the underlying business or industry changes driving this perspective?
ABRJ
ر.ع0.43
Abraj Energy Services SAOG
7D
-3.5%
1Y
86.7%
OQGN
ر.ع0.26
OQ Gas Networks SAOG
7D
-4.0%
1Y
103.1%

OQGN: Higher P/E Assumptions Will Sustain Overvaluation Despite Modest Dividend

Analysts have adjusted their price target for OQ Gas Networks SAOG from OMR0.2108 to OMR0.2275, reflecting updated views on revenue growth assumptions, profit margins, and the future P/E multiple. What's in the News The Annual General Meeting on March 15, 2026 approved a cash dividend of 5.6 baisa per share for the second half of the financial year ended December 31, 2025 (company AGM resolution).
BKSB
ر.ع0.23
Sohar International Bank SAOG
7D
0.9%
1Y
75.8%

BKSB: Hong Kong Expansion And Dividend Policy Will Likely Sustain Fair Valuation

Analysts have adjusted their price target for Sohar International Bank SAOG from OMR0.170 to OMR0.213, based on updated assumptions regarding fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News Received in principle approval from the Central Bank of Oman to establish a representative office in the Hong Kong Special Administrative Region, aimed at supporting clients connected to Hong Kong and wider Asian markets (Key Developments).
BKMB
ر.ع0.47
Bank Muscat SAOG
7D
-1.9%
1Y
86.2%

BKMB: Rich Payout And Strong Capital Position Will Likely Support Fair Value

Analysts have raised their price target for Bank Muscat SAOG to OMR0.475 from OMR0.405, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News The amendment of the Articles of Association has been approved, updating Bank Muscat SAOG's company bylaws and governance framework (Key Developments).
OFMI
ر.ع0.59
Oman Flour Mills Company SAOG
7D
6.7%
1Y
34.0%
OQBI
ر.ع0.30
OQ Base Industries (SFZ) SAOG
7D
-1.9%
1Y
193.2%
FINC
ر.ع0.11
Financial Corporation Company SAOG
7D
35.4%
1Y
245.2%
NFCI
ر.ع0.23
National Finance Company SAOG
7D
1.8%
1Y
100.1%

Rising Impairment Provisions And Loan Book Leverage Will Challenge Long Term Outlook

Catalysts About National Finance Company SAOG National Finance Company SAOG provides financing solutions across retail, SME and corporate segments in Oman through a network of branches. What are the underlying business or industry changes driving this perspective?
NBOB
ر.ع0.40
National Bank of Oman SAOG
7D
2.8%
1Y
36.0%
OAB
ر.ع0.20
Oman Arab Bank SAOG
7D
1.0%
1Y
39.3%

Strong Capital Base And Cost Efficiency Will Support Stable Long Term Banking Performance

Catalysts About Oman Arab Bank SAOG Oman Arab Bank SAOG is a commercial bank that provides conventional and Islamic banking products and services in Oman. What are the underlying business or industry changes driving this perspective?
ASCO
ر.ع0.28
Asyad Shipping Company SAOG
7D
-8.2%
1Y
167.6%
MHAS
ر.ع1.10
Al Maha Petroleum Products Marketing Company SAOG
7D
-9.8%
1Y
5.8%
OETI
ر.ع1.55
Oman Education & Training Investment Company SAOG
7D
3.3%
1Y
46.2%
OQEP
ر.ع0.51
OQ Exploration and Production SAOG
7D
2.6%
1Y
87.5%
SPSI
ر.ع0.60
Salalah Port Services Company SAOG
7D
-12.3%
1Y
155.3%