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Omani (MSM) Market Analysis & Valuation

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies99
  • 7D3.0%
  • 3M33.6%
  • 1Y80.3%
  • YTD35.8%

The market is up 3.0% over the last week, with the Energy sector leading the way, up 4.3%. The market is up 80% over the last 12 months. As for the next few years, earnings are expected to grow by 4.3% 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
Tue, 07 Apr 2026ر.ع21.6bر.ع13.0bر.ع1.4b13.6x15.2x1.7x
Thu, 05 Mar 2026ر.ع19.6bر.ع12.8bر.ع1.4b12.2x14x1.5x
Sat, 31 Jan 2026ر.ع17.1bر.ع12.5bر.ع1.4b11.2x12.2x1.4x
Mon, 29 Dec 2025ر.ع16.0bر.ع12.4bر.ع1.4b10.1x11.5x1.3x
Wed, 26 Nov 2025ر.ع15.4bر.ع12.4bر.ع1.4b10.4x11.2x1.2x
Fri, 24 Oct 2025ر.ع14.9bر.ع12.3bر.ع1.4b10.4x10.9x1.2x
Sun, 21 Sep 2025ر.ع14.2bر.ع12.1bر.ع1.4b9.9x10.4x1.2x
Tue, 19 Aug 2025ر.ع13.7bر.ع12.1bر.ع1.4b9.9x10.1x1.1x
Thu, 17 Jul 2025ر.ع13.0bر.ع11.7bر.ع1.2b10.6x10.6x1.1x
Sat, 14 Jun 2025ر.ع12.7bر.ع11.6bر.ع1.2b10x10.3x1.1x
Mon, 12 May 2025ر.ع11.9bر.ع11.6bر.ع1.2b9.9x9.7x1x
Wed, 09 Apr 2025ر.ع11.9bر.ع11.5bر.ع1.2b9.9x9.9x1x
Fri, 07 Mar 2025ر.ع11.7bر.ع11.4bر.ع1.4b10.1x8.3x1x
Sun, 02 Feb 2025ر.ع12.0bر.ع10.4bر.ع854.3m10.3x14.1x1.2x
Tue, 31 Dec 2024ر.ع12.1bر.ع10.1bر.ع699.7m11x17.2x1.2x
Thu, 28 Nov 2024ر.ع11.8bر.ع10.1bر.ع689.3m10.8x17.1x1.2x
Sat, 26 Oct 2024ر.ع12.4bر.ع10.1bر.ع685.0m10.7x18.1x1.2x
Mon, 23 Sep 2024ر.ع9.1bر.ع10.0bر.ع680.4m10.9x13.4x0.9x
Wed, 21 Aug 2024ر.ع9.1bر.ع10.0bر.ع679.0m11.4x13.3x0.9x
Fri, 19 Jul 2024ر.ع9.1bر.ع9.9bر.ع674.4m11.1x13.5x0.9x
Sun, 16 Jun 2024ر.ع9.0bر.ع9.9bر.ع676.8m12.2x13.4x0.9x
Tue, 14 May 2024ر.ع9.2bر.ع9.9bر.ع685.2m11.5x13.4x0.9x
Thu, 11 Apr 2024ر.ع9.1bر.ع9.8bر.ع656.1m11.6x13.9x0.9x
Sat, 09 Mar 2024ر.ع9.1bر.ع9.7bر.ع739.9m11.5x12.3x0.9x
Mon, 05 Feb 2024ر.ع9.3bر.ع9.7bر.ع798.2m11.6x11.6x1x
Wed, 03 Jan 2024ر.ع9.3bر.ع9.6bر.ع794.3m11.8x11.7x1x
Fri, 01 Dec 2023ر.ع9.4bر.ع9.6bر.ع790.5m12.2x11.9x1x
Sun, 29 Oct 2023ر.ع9.0bر.ع9.5bر.ع761.2m12.1x11.8x0.9x
Tue, 26 Sep 2023ر.ع8.6bر.ع9.5bر.ع625.2m11.7x13.8x0.9x
Thu, 24 Aug 2023ر.ع8.8bر.ع9.4bر.ع638.6m12.6x13.8x0.9x
Sat, 22 Jul 2023ر.ع8.8bر.ع9.3bر.ع596.4m13.6x14.8x0.9x
Mon, 19 Jun 2023ر.ع8.6bر.ع9.3bر.ع578.1m12.9x14.8x0.9x
Wed, 17 May 2023ر.ع8.6bر.ع9.1bر.ع613.3m12.5x14x0.9x
Fri, 14 Apr 2023ر.ع8.6bر.ع9.0bر.ع594.9m12.1x14.5x1x
Price to Earnings Ratio

14.5x


Total Market Cap: ر.ع8.6bTotal Earnings: ر.ع594.9mTotal 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 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 34% 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 Market3.00%
Utilities16.29%
Consumer Discretionary6.53%
Energy4.30%
Materials3.38%
Industrials1.69%
Financials1.34%
Real Estate0%0
Healthcare0%0
Telecom-0.01%
Consumer Staples-1.28%
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 92.0x.
    • Analysts are expecting annual earnings decline of 7.2%, which is less than its past year's earnings decline of 25.0% 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 6.2x.
Forecasted Growth
  • Analysts are most optimistic on the Industrials sector, expecting annual earnings growth of 13% over the next 5 years.
  • This is better than its past earnings growth rate of 7.3% per year.
  • In contrast, the Materials sector is expected to see its earnings decline by 7.2% 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
PHPC Phoenix Power Company SAOGر.ع0.2227.3%
+ر.ع70.2m		279.7%PE12.6xUtilities
OQGN OQ Gas Networks SAOGر.ع0.283.8%
+ر.ع43.3m		119.0%PE23.3xEnergy
OQEP OQ Exploration and Production SAOGر.ع0.481.0%
+ر.ع39.9m		66.9%PE13.9xEnergy
BKMB Bank Muscat SAOGر.ع0.481.1%
+ر.ع37.5m		93.9%PB1.4xFinancials
OQBI OQ Base Industries (SFZ) SAOGر.ع0.303.1%
+ر.ع31.1m		207.1%PE21.8xMaterials
See more

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Latest News

SFMI
ر.ع0.65
Salalah Mills Company SAOG
7D
-16.7%
1Y
16.1%
OQGN
ر.ع0.28
OQ Gas Networks SAOG
7D
3.8%
1Y
119.0%
BATP
ر.ع0.22
Al Batinah Power Company SAOG
7D
20.4%
1Y
230.3%
OFMI
ر.ع0.50
Oman Flour Mills Company SAOG
7D
-6.9%
1Y
41.9%
SUWP
ر.ع0.22
Al Suwadi Power Company SAOG
7D
19.9%
1Y
233.8%
DIDI
ر.ع0.34
Dhofar International Development & Investment SAOG
7D
15.4%
1Y
43.8%
OQBI
ر.ع0.30
OQ Base Industries (SFZ) SAOG
7D
3.1%
1Y
207.1%
OCOI
ر.ع0.54
Oman Cement Company SAOG
7D
-2.7%
1Y
39.5%
AOFS
ر.ع0.17
Al Omaniya Financial Services SAOG
7D
-7.6%
1Y
20.4%
BKSB
ر.ع0.22
Sohar International Bank SAOG
7D
-2.6%
1Y
77.8%

BKSB: Hong Kong Office Approval And Cash Dividend Will Keep Shares Overvalued

Analysts have kept their OMR 0.17 price target for Sohar International Bank SAOG broadly unchanged, citing stable assumptions for fair value, discount rate, revenue growth, profit margin and future P/E in their updated models. What's in the News Sohar International Bank SAOG has scheduled a special or extraordinary shareholders meeting for March 31, 2026, which may be relevant if you track governance decisions or capital actions (company disclosure).
BKMB
ر.ع0.48
Bank Muscat SAOG
7D
1.1%
1Y
93.9%

BKMB: Steady Dividend Outlook Will Likely Mask Overvaluation Risk

Analysts have kept their price target for Bank Muscat SAOG steady at about OMR0.41, reflecting largely unchanged assumptions around the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News Amendment of the Articles of Association approved, signaling updates to the bank's governing framework (Key Developments) Special or Extraordinary Shareholders Meeting scheduled for Mar 17, 2026, giving investors a key date to watch for shareholder decisions (Key Developments) Board meeting on Jan 27, 2026 set to review financial results for the year ended Dec 31, 2025 and to consider the dividend for 2025 (Key Developments) Proposed 18% cash dividend for 2025 at OMR 0.018 per share, totaling OMR 135.115m, subject to approval at the Annual General Meeting and by regulators, with the bank indicating a post payout Capital Adequacy Ratio of 19.66% compared with the regulatory minimum (Key Developments) Valuation Changes Fair Value: OMR 0.40533 remains unchanged, indicating a steady central estimate in the current model.
SMNP
ر.ع0.24
SMN Power Holding SAOG
7D
-14.9%
1Y
2.1%
PHPC
ر.ع0.22
Phoenix Power Company SAOG
7D
27.3%
1Y
279.7%
BKNZ
ر.ع0.15
Bank Nizwa SAOG
7D
-3.1%
1Y
58.2%
OQEP
ر.ع0.48
OQ Exploration and Production SAOG
7D
1.0%
1Y
66.9%
BKDB
ر.ع0.19
Bank Dhofar SAOG
7D
-3.5%
1Y
35.0%