Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Omani (MSM) Market Analysis & Valuation

UpdatedFeb 28, 2026
DataAggregated Company Financials
Companies100
  • 7D1.8%
  • 3M28.3%
  • 1Y55.1%
  • YTD24.0%

Over the last 7 days, the market has risen 1.8%, driven by gains of 2.1% in the Energy sector. As for the past 12 months, the market is up 55%. As for the next few years, earnings are expected to grow by 6.0% 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
Sat, 28 Feb 2026ر.ع19.8bر.ع12.4bر.ع1.4b12.4x14.2x1.6x
Mon, 26 Jan 2026ر.ع16.8bر.ع12.4bر.ع1.4b11x12.2x1.4x
Wed, 24 Dec 2025ر.ع16.0bر.ع12.4bر.ع1.4b10.2x11.5x1.3x
Fri, 21 Nov 2025ر.ع15.4bر.ع12.3bر.ع1.4b10.3x11.2x1.3x
Sun, 19 Oct 2025ر.ع14.6bر.ع12.3bر.ع1.4b9.7x10.5x1.2x
Tue, 16 Sep 2025ر.ع14.1bر.ع12.1bر.ع1.4b10.2x10.3x1.2x
Thu, 14 Aug 2025ر.ع13.7bر.ع12.1bر.ع1.4b10.3x10x1.1x
Sat, 12 Jul 2025ر.ع12.9bر.ع11.6bر.ع1.2b10.6x10.6x1.1x
Mon, 09 Jun 2025ر.ع12.6bر.ع11.6bر.ع1.2b10.1x10.3x1.1x
Wed, 07 May 2025ر.ع11.8bر.ع11.6bر.ع1.2b9.6x9.6x1x
Fri, 04 Apr 2025ر.ع12.3bر.ع11.5bر.ع1.2b9.9x10.1x1.1x
Sun, 02 Mar 2025ر.ع11.9bر.ع11.5bر.ع1.4b10.5x8.4x1x
Tue, 28 Jan 2025ر.ع12.1bر.ع10.1bر.ع872.3m10.3x13.9x1.2x
Thu, 26 Dec 2024ر.ع11.9bر.ع10.1bر.ع699.7m10.7x17x1.2x
Sat, 23 Nov 2024ر.ع11.9bر.ع10.1bر.ع687.7m10.6x17.3x1.2x
Mon, 21 Oct 2024ر.ع9.3bر.ع10.1bر.ع685.0m11x13.5x0.9x
Wed, 18 Sep 2024ر.ع9.1bر.ع10.0bر.ع680.4m11x13.4x0.9x
Fri, 16 Aug 2024ر.ع9.1bر.ع10.0bر.ع681.9m11.4x13.3x0.9x
Sun, 14 Jul 2024ر.ع9.1bر.ع9.9bر.ع677.8m11.6x13.4x0.9x
Tue, 11 Jun 2024ر.ع9.1bر.ع9.9bر.ع673.8m12.2x13.5x0.9x
Thu, 09 May 2024ر.ع9.2bر.ع9.8bر.ع680.2m11.6x13.5x0.9x
Sat, 06 Apr 2024ر.ع9.1bر.ع9.7bر.ع648.5m11.4x14x0.9x
Mon, 04 Mar 2024ر.ع8.9bر.ع9.6bر.ع740.8m11.3x12x0.9x
Wed, 31 Jan 2024ر.ع9.3bر.ع9.7bر.ع787.2m11.4x11.8x1x
Fri, 29 Dec 2023ر.ع9.2bر.ع9.6bر.ع792.5m11.6x11.6x1x
Sun, 26 Nov 2023ر.ع9.3bر.ع9.6bر.ع790.2m11.8x11.8x1x
Tue, 24 Oct 2023ر.ع8.5bر.ع9.5bر.ع760.2m12x11.2x0.9x
Thu, 21 Sep 2023ر.ع8.7bر.ع9.4bر.ع627.7m11.7x13.8x0.9x
Sat, 19 Aug 2023ر.ع8.8bر.ع9.3bر.ع587.3m13.3x15x0.9x
Mon, 17 Jul 2023ر.ع8.8bر.ع9.3bر.ع594.7m13.7x14.8x0.9x
Wed, 14 Jun 2023ر.ع8.6bر.ع9.3bر.ع578.7m12.6x14.8x0.9x
Fri, 12 May 2023ر.ع8.5bر.ع9.1bر.ع617.0m13.2x13.8x0.9x
Sun, 09 Apr 2023ر.ع8.5bر.ع9.0bر.ع594.5m12x14.4x0.9x
Tue, 07 Mar 2023ر.ع8.5bر.ع8.7bر.ع558.8m12x15.1x1x
Price to Earnings Ratio

15.1x


Total Market Cap: ر.ع8.5bTotal Earnings: ر.ع558.8mTotal Revenue: ر.ع8.7bTotal 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 14.2x which is higher than its 3-year average PE of 12.5x.
Past Earnings Growth
  • The earnings for Omani listed companies have grown 36% 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 Market1.82%
Telecom5.93%
Materials4.88%
Industrials3.88%
Energy2.07%
Financials0.94%
Real Estate0.67%
Consumer Staples0.077%
Healthcare0%0
Consumer Discretionary-0.17%
Utilities-1.47%
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 91.2x.
    • Analysts are expecting annual earnings decline of 6.7%, which is less than its past year's earnings decline of 23.0% 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 6.1x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 13% 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 6.7% 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
ASCO Asyad Shipping Company SAOGر.ع0.245.3%
+ر.ع62.5m		n/aPE36.7xEnergy
BKMB Bank Muscat SAOGر.ع0.431.9%
+ر.ع60.1m		67.7%PB1.2xFinancials
OTEL Oman Telecommunications Company SAOGر.ع1.315.6%
+ر.ع51.7m		59.1%PE11.6xTelecom
OQBI OQ Base Industries (SFZ) SAOGر.ع0.235.0%
+ر.ع38.1m		122.3%PE16.6xMaterials
OQGN OQ Gas Networks SAOGر.ع0.243.5%
+ر.ع34.6m		82.3%PE21xEnergy
See more

Market Insights

Header cover image
Three contrarian investing ideas for a new market
Stella Ong avatar
Stella Ong
|
|
In many ways, the market is upside down. This new setting might offer some unexpected opportunities for investors.
Continue reading
Alternatives part 2: 2026 and beyond 🔭
Last Week

Alternatives part 2: 2026 and beyond 🔭

Latest News

OMVS
ر.ع0.40
Oman International Development and Investment Company SAOG
7D
-2.7%
1Y
66.8%
OUIC
ر.ع0.39
Oman United Insurance Company SAOG
7D
-8.2%
1Y
59.8%
SUWP
ر.ع0.16
Al Suwadi Power Company SAOG
7D
-2.4%
1Y
148.5%
ATMI
ر.ع0.90
Al Jazeera Steel Products Company SAOG
7D
-5.2%
1Y
130.8%

Medium Section Mill Expansion And Higher Specification Approvals Will Reshape Long Term Prospects

Catalysts About Al Jazeera Steel Products Company SAOG Al Jazeera Steel Products Company SAOG is an Oman based producer of steel tubes, merchant bars and related products serving construction, oil and gas, and industrial customers across Oman, the wider GCC and export markets. What are the underlying business or industry changes driving this perspective?
OCOI
ر.ع0.55
Oman Cement Company SAOG
7D
10.0%
1Y
12.4%
ASCO
ر.ع0.24
Asyad Shipping Company SAOG
7D
5.3%
1Y
n/a
OQGN
ر.ع0.24
OQ Gas Networks SAOG
7D
3.5%
1Y
82.3%

OQGN: Unchanged Fair Value And P/E Assumptions Will Sustain Overvaluation

Analysts have kept their OQ Gas Networks SAOG fair value estimate broadly unchanged at around OMR0.20. This reflects only very small tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions, rather than any shift in their overall view of the stock.
BKSB
ر.ع0.22
Sohar International Bank SAOG
7D
1.4%
1Y
65.9%

BKSB: Steady Dividend Proposal Will Keep Shares Looking Overvalued

Analysts have kept their OMR price target for Sohar International Bank SAOG broadly steady, making only marginal tweaks to inputs such as discount rate, profit margin, and forward P/E that do not change the overall fair value estimate of OMR 0.17. What's in the News The board has proposed a cash dividend of 4 baisa per share for the financial year ended 31 December 2025, totaling OMR 26.469 million, subject to shareholder approval (Key Developments).
BATP
ر.ع0.16
Al Batinah Power Company SAOG
7D
-2.4%
1Y
144.8%
BKMB
ر.ع0.43
Bank Muscat SAOG
7D
1.9%
1Y
67.7%

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

Analysts have kept their fair value estimate for Bank Muscat SAOG steady at OMR0.40533, with only marginal tweaks to inputs such as the discount rate, revenue growth, profit margin, and future P/E assumptions, which together leave the overall price target effectively unchanged. What's in the News A board meeting is 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).
OQBI
ر.ع0.23
OQ Base Industries (SFZ) SAOG
7D
5.0%
1Y
122.3%
OTEL
ر.ع1.31
Oman Telecommunications Company SAOG
7D
5.6%
1Y
59.1%
BKNZ
ر.ع0.15
Bank Nizwa SAOG
7D
-1.3%
1Y
53.5%
PHPC
ر.ع0.16
Phoenix Power Company SAOG
7D
-3.6%
1Y
169.5%
BKDB
ر.ع0.20
Bank Dhofar SAOG
7D
-0.5%
1Y
35.0%
ABRJ
ر.ع0.45
Abraj Energy Services SAOG
7D
5.9%
1Y
86.0%