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Omani (MSM) Market Analysis & Valuation

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies100
  • 7D2.0%
  • 3M27.4%
  • 1Y65.9%
  • YTD28.9%

Over the last 7 days, the market has risen 4.9%, driven by gains in the Financials and Energy sectors of 4.8% and 5.7%, respectively. In the last year, the market has climbed 67%. Looking forward, earnings are forecast to grow by 4.8% annually.

Trending IndustriesOil and GasRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Mar 2026ر.ع20.6bر.ع13.1bر.ع1.4b12.4x14.5x1.6x
Wed, 11 Feb 2026ر.ع18.4bر.ع12.5bر.ع1.4b12.2x13.3x1.5x
Fri, 09 Jan 2026ر.ع16.5bر.ع12.4bر.ع1.4b10.8x11.9x1.3x
Sun, 07 Dec 2025ر.ع15.9bر.ع12.4bر.ع1.4b10.4x11.4x1.3x
Tue, 04 Nov 2025ر.ع15.4bر.ع12.3bر.ع1.4b10.2x10.8x1.3x
Thu, 02 Oct 2025ر.ع14.4bر.ع12.1bر.ع1.4b9.9x10.5x1.2x
Sat, 30 Aug 2025ر.ع14.1bر.ع12.1bر.ع1.4b10.2x10.3x1.2x
Mon, 28 Jul 2025ر.ع13.1bر.ع12.0bر.ع1.3b10.6x10.2x1.1x
Wed, 25 Jun 2025ر.ع12.8bر.ع11.6bر.ع1.2b10.1x10.4x1.1x
Fri, 23 May 2025ر.ع12.4bر.ع11.6bر.ع1.2b10x10.1x1.1x
Sun, 20 Apr 2025ر.ع11.8bر.ع11.5bر.ع1.2b9.7x9.8x1x
Tue, 18 Mar 2025ر.ع12.3bر.ع11.1bر.ع1.1b10x10.7x1.1x
Thu, 13 Feb 2025ر.ع11.8bر.ع11.5bر.ع1.4b10.4x8.4x1x
Sat, 11 Jan 2025ر.ع12.3bر.ع10.1bر.ع699.7m11.4x17.5x1.2x
Mon, 09 Dec 2024ر.ع11.8bر.ع10.1bر.ع694.5m11.2x16.9x1.2x
Wed, 06 Nov 2024ر.ع12.0bر.ع10.1bر.ع684.9m10.6x17.5x1.2x
Fri, 04 Oct 2024ر.ع9.0bر.ع10.0bر.ع680.4m10.8x13.2x0.9x
Sun, 01 Sep 2024ر.ع9.2bر.ع10.0bر.ع680.1m11.2x13.5x0.9x
Tue, 30 Jul 2024ر.ع9.0bر.ع9.9bر.ع676.0m11.3x13.3x0.9x
Thu, 27 Jun 2024ر.ع8.9bر.ع9.9bر.ع677.3m12.1x13.2x0.9x
Sat, 25 May 2024ر.ع9.2bر.ع9.9bر.ع672.8m11.8x13.7x0.9x
Mon, 22 Apr 2024ر.ع9.1bر.ع9.8bر.ع679.8m11.8x13.5x0.9x
Wed, 20 Mar 2024ر.ع9.2bر.ع9.8bر.ع738.3m11.5x12.4x0.9x
Fri, 16 Feb 2024ر.ع8.9bر.ع9.5bر.ع737.3m11.4x12.1x0.9x
Sun, 14 Jan 2024ر.ع9.3bر.ع9.6bر.ع793.2m11.9x11.7x1x
Tue, 12 Dec 2023ر.ع9.3bر.ع9.6bر.ع790.1m11.9x11.7x1x
Thu, 09 Nov 2023ر.ع9.0bر.ع9.6bر.ع771.4m11.8x11.6x0.9x
Sat, 07 Oct 2023ر.ع8.7bر.ع9.4bر.ع626.2m12.2x13.9x0.9x
Mon, 04 Sep 2023ر.ع8.8bر.ع9.4bر.ع625.2m12.5x14.1x0.9x
Wed, 02 Aug 2023ر.ع8.8bر.ع9.3bر.ع596.0m13.5x14.8x0.9x
Fri, 30 Jun 2023ر.ع8.7bر.ع9.3bر.ع595.7m13.4x14.7x0.9x
Sun, 28 May 2023ر.ع8.5bر.ع9.3bر.ع576.5m12.3x14.7x0.9x
Tue, 25 Apr 2023ر.ع8.6bر.ع9.0bر.ع603.6m12.1x14.3x1x
Thu, 23 Mar 2023ر.ع8.8bر.ع9.0bر.ع593.5m12.7x14.7x1x
Price to Earnings Ratio

14.7x


Total Market Cap: ر.ع8.8bTotal Earnings: ر.ع593.5mTotal 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 14.6x 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 Market2.04%
Industrials6.70%
Materials4.93%
Consumer Staples4.91%
Financials3.50%
Telecom1.27%
Healthcare0%0
Consumer Discretionary-0.21%
Energy-0.24%
Utilities-1.34%
Real Estate-2.00%
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 91.6x.
    • Analysts are expecting annual earnings decline of 7.0%, 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 6.1x.
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 13% per year.
  • In contrast, the Materials sector is expected to see its earnings decline by 7.0% 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.ع0.4810.9%
+ر.ع352.8m		87.8%PB1.4xFinancials
ASCO Asyad Shipping Company SAOGر.ع0.2810.0%
+ر.ع130.2m		123.6%PE25xEnergy
OQBI OQ Base Industries (SFZ) SAOGر.ع0.266.0%
+ر.ع51.9m		156.3%PE19.2xMaterials
OQGN OQ Gas Networks SAOGر.ع0.262.8%
+ر.ع30.3m		97.7%PE21.5xEnergy
OTEL Oman Telecommunications Company SAOGر.ع1.311.9%
+ر.ع18.0m		62.4%PE11.1xTelecom
See more

Market Insights

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Latest News

GECS
ر.ع0.15
Galfar Engineering & Contracting SAOG
7D
61.7%
1Y
108.2%
PHPC
ر.ع0.15
Phoenix Power Company SAOG
7D
-1.9%
1Y
151.7%
BKSB
ر.ع0.22
Sohar International Bank SAOG
7D
-1.8%
1Y
77.2%
BKNZ
ر.ع0.16
Bank Nizwa SAOG
7D
3.9%
1Y
60.6%
OQEP
ر.ع0.48
OQ Exploration and Production SAOG
7D
-4.2%
1Y
51.1%
SFMI
ر.ع0.68
Salalah Mills Company SAOG
7D
39.5%
1Y
20.5%
OQGN
ر.ع0.26
OQ Gas Networks SAOG
7D
2.8%
1Y
97.7%

OQGN: Softer Revenue Outlook And Board Actions Will Sustain Overvaluation

Analysts have held their fair value estimate for OQ Gas Networks SAOG steady at OMR0.198, with a slightly lower assumed revenue growth rate and a modestly higher profit margin and future P/E helping to justify the unchanged price target. What's in the News A board meeting is scheduled for March 5, 2026, to review and approve the audited financial statements for the period.
OTEL
ر.ع1.31
Oman Telecommunications Company SAOG
7D
1.9%
1Y
62.4%

ICT Expansion And Digital Platforms Will Shape A Stronger Telecom Future

Catalysts About Oman Telecommunications Company SAOG Oman Telecommunications Company SAOG operates as the leading integrated telecom and technology group in Oman with domestic, wholesale and international exposure through its stake in Zain Group. What are the underlying business or industry changes driving this perspective?
NBOB
ر.ع0.39
National Bank of Oman SAOG
7D
-0.5%
1Y
30.7%
ABOB
ر.ع0.19
Ahli Bank SAOG
7D
-2.5%
1Y
9.7%
BKMB
ر.ع0.48
Bank Muscat SAOG
7D
10.9%
1Y
87.8%

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

Analysts have kept their fair value estimate for Bank Muscat SAOG stable at OMR0.40533, with only marginal tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E that they view as fine tuning rather than a shift in outlook. What's in the News Board meeting 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) Proposal for an 18% cash dividend for 2025, equal to OMR 0.018 per ordinary share, with a total proposed payout of OMR 135.115m on the existing share capital, subject to AGM and regulatory approvals (Key Developments) The bank reports that its Capital Adequacy Ratio would be 19.66% after the proposed 2025 cash dividend payout, which it states is above the regulatory minimum (Key Developments) Special or Extraordinary Shareholders Meeting scheduled for March 17, 2026 (Key Developments) Valuation Changes Fair Value: Kept unchanged at OMR0.40533, indicating no revision to the overall valuation outcome.
ASCO
ر.ع0.28
Asyad Shipping Company SAOG
7D
10.0%
1Y
123.6%
ATMI
ر.ع0.81
Al Jazeera Steel Products Company SAOG
7D
-3.0%
1Y
100.7%

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?
OQBI
ر.ع0.26
OQ Base Industries (SFZ) SAOG
7D
6.0%
1Y
156.3%
OAB
ر.ع0.19
Oman Arab Bank SAOG
7D
-3.0%
1Y
40.9%
BKDB
ر.ع0.19
Bank Dhofar SAOG
7D
-4.0%
1Y
29.0%