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Omani (MSM) Market Analysis & Valuation

UpdatedSep 19, 2025
DataAggregated Company Financials
Companies98
  • 7D0.8%
  • 3M11.0%
  • 1Y8.1%
  • YTD10.0%

The market has been flat over the last week. As for the longer term, the market has risen 8.0% in the past 12 months. As for the next few years, earnings are expected to grow by 9.2% per annum.

Trending IndustriesOil and GasRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Sep 2025ر.ع14.2bر.ع12.1bر.ع1.4b9.9x10.4x1.2x
Sun, 17 Aug 2025ر.ع13.7bر.ع12.1bر.ع1.4b10x10x1.1x
Tue, 15 Jul 2025ر.ع13.0bر.ع11.6bر.ع1.2b10.7x10.6x1.1x
Thu, 12 Jun 2025ر.ع12.8bر.ع11.6bر.ع1.2b10.1x10.4x1.1x
Sat, 10 May 2025ر.ع11.8bر.ع11.6bر.ع1.2b9.8x9.7x1x
Mon, 07 Apr 2025ر.ع12.3bر.ع11.5bر.ع1.2b9.9x10.1x1.1x
Wed, 05 Mar 2025ر.ع11.8bر.ع11.5bر.ع1.4b10.5x8.3x1x
Fri, 31 Jan 2025ر.ع12.0bر.ع10.4bر.ع909.8m10.2x13.2x1.2x
Sun, 29 Dec 2024ر.ع12.0bر.ع10.1bر.ع699.7m10.7x17.1x1.2x
Tue, 26 Nov 2024ر.ع11.8bر.ع10.1bر.ع689.5m10.5x17.1x1.2x
Thu, 24 Oct 2024ر.ع9.2bر.ع10.1bر.ع685.0m10.8x13.5x0.9x
Sat, 21 Sep 2024ر.ع9.1bر.ع10.0bر.ع680.4m11x13.4x0.9x
Mon, 19 Aug 2024ر.ع9.1bر.ع10.0bر.ع681.3m11.4x13.3x0.9x
Wed, 17 Jul 2024ر.ع9.1bر.ع9.9bر.ع677.8m11.7x13.4x0.9x
Fri, 14 Jun 2024ر.ع9.1bر.ع9.9bر.ع675.5m12.2x13.4x0.9x
Sun, 12 May 2024ر.ع9.2bر.ع9.9bر.ع683.1m11.6x13.4x0.9x
Tue, 09 Apr 2024ر.ع9.1bر.ع9.7bر.ع648.6m11.6x14.1x0.9x
Thu, 07 Mar 2024ر.ع9.1bر.ع9.6bر.ع738.7m11.6x12.3x0.9x
Sat, 03 Feb 2024ر.ع9.3bر.ع9.7bر.ع796.6m11.3x11.6x1x
Mon, 01 Jan 2024ر.ع9.2bر.ع9.6bر.ع794.2m11.4x11.5x1x
Wed, 29 Nov 2023ر.ع9.4bر.ع9.6bر.ع790.0m12.3x11.8x1x
Fri, 27 Oct 2023ر.ع9.0bر.ع9.5bر.ع761.2m12.1x11.9x0.9x
Sun, 24 Sep 2023ر.ع8.7bر.ع9.5bر.ع625.2m11.7x13.8x0.9x
Tue, 22 Aug 2023ر.ع8.8bر.ع9.4bر.ع629.3m12.9x14x0.9x
Thu, 20 Jul 2023ر.ع8.8bر.ع9.3bر.ع596.4m13.6x14.8x0.9x
Sat, 17 Jun 2023ر.ع8.6bر.ع9.3bر.ع578.8m12.7x14.8x0.9x
Mon, 15 May 2023ر.ع8.6bر.ع9.1bر.ع618.5m13.2x13.9x0.9x
Wed, 12 Apr 2023ر.ع8.5bر.ع9.0bر.ع594.5m12.1x14.4x1x
Fri, 10 Mar 2023ر.ع8.5bر.ع8.7bر.ع559.0m11.7x15.1x1x
Sun, 05 Feb 2023ر.ع8.2bر.ع8.7bر.ع553.6m11.2x14.9x0.9x
Tue, 03 Jan 2023ر.ع8.4bر.ع8.6bر.ع486.6m10.9x17.2x1x
Thu, 01 Dec 2022ر.ع8.0bر.ع8.5bر.ع552.4m11x14.6x0.9x
Sat, 29 Oct 2022ر.ع7.8bر.ع8.2bر.ع522.8m11.8x15x1x
Mon, 26 Sep 2022ر.ع7.9bر.ع8.1bر.ع527.7m12x15x1x
Price to Earnings Ratio

15x


Total Market Cap: ر.ع7.9bTotal Earnings: ر.ع527.7mTotal Revenue: ر.ع8.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Omani Market Price to Earnings3Y Average 13.1x202320242025
Current Market PE
  • Investors are pessimistic on the Omani market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 10.3x which is lower than its 3-year average PE of 13.1x.
Past Earnings Growth
  • The earnings for Omani listed companies have grown 37% per year over the last three years.
  • Revenues for these companies have grown 14% 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 Market0.75%
Utilities1.96%
Financials1.08%
Materials1.03%
Energy0.84%
Consumer Staples0.033%
Real Estate0%0
Healthcare0%0
Consumer Discretionary-0.17%
Industrials-0.55%
Telecom-1.63%
Sector PE
  • Investors favour the Real Estate sector the most for future growth even though it's trading below its 3-year average PE ratio of 25.6x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Utilities sector is the least preferred by investors for future growth, which is trading below its 3-year average of 5.8x.
Forecasted Growth
  • Analysts are most optimistic on the Industrials sector, expecting annual earnings growth of 14% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Materials sector is expected to see its earnings decline by 3.0% 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.ع0.321.6%
+ر.ع37.5m		23.6%PB1xFinancials
ASCO Asyad Shipping Company SAOGر.ع0.134.7%
+ر.ع31.3m		n/aPE17.5xEnergy
BKSB Sohar International Bank SAOGر.ع0.152.8%
+ر.ع26.5m		5.8%PB1.1xFinancials
OQGN OQ Gas Networks SAOGر.ع0.162.5%
+ر.ع16.9m		12.5%PE15.4xEnergy
OQBI OQ Base Industries (SFZ) SAOGر.ع0.142.1%
+ر.ع10.4m		n/aPE8.4xMaterials
See more

Market Insights

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Richard Bowman
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It’s been a while since we checked in on commodity markets, which, like other markets, are having quite the interesting year. In particular, gold continues its march upward, while oil remains in a slump. As for the rest, most have been up and down and ended up close to where they were a year ago. By the end, you’ll see why gold stocks still look cheap despite these record prices — and why oil stocks, oddly enough, look expensive even as crude declines.
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Last Week

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Latest News

OCOI
ر.ع0.47
Oman Cement Company SAOG
7D
-1.1%
1Y
20.5%
OQGN
ر.ع0.16
OQ Gas Networks SAOG
7D
2.5%
1Y
12.5%
OQBI
ر.ع0.14
OQ Base Industries (SFZ) SAOG
7D
2.1%
1Y
n/a
ASCO
ر.ع0.13
Asyad Shipping Company SAOG
7D
4.7%
1Y
n/a
BKSB
ر.ع0.15
Sohar International Bank SAOG
7D
2.8%
1Y
5.8%

Oman Urban Growth And Saudi Expansion Will Drive Opportunity

With minimal changes observed in key valuation metrics—namely, a marginally higher discount rate and a nearly flat forward P/E ratio—the consensus fair value for Sohar International Bank SAOG remains unchanged at OMR0.175. Valuation Changes Summary of Valuation Changes for Sohar International Bank SAOG The Consensus Analyst Price Target remained effectively unchanged, at OMR0.175.
BKMB
ر.ع0.32
Bank Muscat SAOG
7D
1.6%
1Y
23.6%

Omani Reforms And Digital Transformation Will Boost Banking Prospects

Despite a notable reduction in revenue growth forecasts, a lower discount rate has supported a modest increase in Bank Muscat SAOG’s consensus analyst price target from OMR0.33 to OMR0.339. Valuation Changes Summary of Valuation Changes for Bank Muscat SAOG The Consensus Analyst Price Target has risen slightly from OMR0.33 to OMR0.339.
OQEP
ر.ع0.35
OQ Exploration and Production SAOG
7D
-0.6%
1Y
n/a
OTEL
ر.ع1.03
Oman Telecommunications Company SAOG
7D
-1.7%
1Y
3.5%

Digital Services And Cloud Computing Will Expand GCC Markets

Despite a notable decline in net profit margin, the consensus analyst price target for Oman Telecommunications Company SAOG has been raised to OMR1.12, driven by a significant increase in the expected Future P/E ratio. What's in the News Board meeting held to consider and approve unaudited Q2 2025 financial results with no changes.
ORDS
ر.ع0.24
Omani Qatari Telecommunications Company SAOG
7D
-1.2%
1Y
-13.3%

Fiber Migration And 5G Expansion In Oman Will Unlock Opportunities

The upward revision in Omani Qatari Telecommunications Company SAOG’s price target reflects improved expectations for both revenue growth and net profit margin, resulting in an increased fair value estimate from OMR0.31 to OMR0.33. What's in the News Saoud Al Riyami appointed as Chief Executive Officer, bringing over 20 years of experience and a long tenure with Ooredoo Oman.
PHPC
ر.ع0.12
Phoenix Power Company SAOG
7D
6.5%
1Y
101.8%
RCCI
ر.ع0.085
Raysut Cement Company SAOG
7D
-7.6%
1Y
-29.2%
BKNZ
ر.ع0.10
Bank Nizwa SAOG
7D
-2.8%
1Y
-0.9%
SSPW
ر.ع0.18
Sembcorp Salalah Power & Water Company SAOG
7D
-1.1%
1Y
73.3%
ABOB
ر.ع0.15
Ahli Bank SAOG
7D
1.4%
1Y
-1.3%
NBOB
ر.ع0.34
National Bank of Oman SAOG
7D
1.2%
1Y
21.1%
OAB
ر.ع0.14
Oman Arab Bank SAOG
7D
-2.1%
1Y
-5.4%