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Omani (MSM) Market Analysis & Valuation

UpdatedMay 04, 2026
DataAggregated Company Financials
Companies99
  • 7D2.4%
  • 3M29.7%
  • 1Y85.8%
  • YTD37.9%

The market has climbed 2.1% in the last 7 days, lead by the Energy sector with a gain of 2.7%. In the last year, the market has climbed 85%. Looking forward, earnings are forecast to grow by 5.8% 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, 04 May 2026ر.ع21.9bر.ع13.1bر.ع1.4b13.6x15.5x1.7x
Wed, 01 Apr 2026ر.ع21.3bر.ع13.0bر.ع1.4b13.5x15x1.6x
Fri, 27 Feb 2026ر.ع19.8bر.ع12.4bر.ع1.4b12.4x14.2x1.6x
Sun, 25 Jan 2026ر.ع16.8bر.ع12.5bر.ع1.4b10.6x12x1.4x
Tue, 23 Dec 2025ر.ع16.0bر.ع12.4bر.ع1.4b10.2x11.5x1.3x
Thu, 20 Nov 2025ر.ع15.4bر.ع12.3bر.ع1.4b10.3x11.2x1.3x
Sat, 18 Oct 2025ر.ع14.6bر.ع12.3bر.ع1.4b9.7x10.5x1.2x
Mon, 15 Sep 2025ر.ع14.1bر.ع12.1bر.ع1.4b10.1x10.3x1.2x
Wed, 13 Aug 2025ر.ع13.7bر.ع12.1bر.ع1.4b10.3x10x1.1x
Fri, 11 Jul 2025ر.ع12.9bر.ع11.6bر.ع1.2b10.6x10.6x1.1x
Sun, 08 Jun 2025ر.ع12.6bر.ع11.6bر.ع1.2b10.1x10.3x1.1x
Tue, 06 May 2025ر.ع11.7bر.ع11.6bر.ع1.2b9.5x9.6x1x
Thu, 03 Apr 2025ر.ع12.3bر.ع11.5bر.ع1.2b9.9x10.1x1.1x
Sat, 01 Mar 2025ر.ع11.9bر.ع11.5bر.ع1.4b10.5x8.4x1x
Mon, 27 Jan 2025ر.ع12.3bر.ع10.1bر.ع872.3m10.3x14.1x1.2x
Wed, 25 Dec 2024ر.ع11.9bر.ع10.1bر.ع699.7m10.6x17x1.2x
Fri, 22 Nov 2024ر.ع11.9bر.ع10.1bر.ع688.0m10.4x17.3x1.2x
Sun, 20 Oct 2024ر.ع9.3bر.ع10.1bر.ع685.0m10.9x13.5x0.9x
Tue, 17 Sep 2024ر.ع9.1bر.ع10.0bر.ع680.6m11.1x13.4x0.9x
Thu, 15 Aug 2024ر.ع9.0bر.ع10.0bر.ع681.9m11.4x13.3x0.9x
Sat, 13 Jul 2024ر.ع9.1bر.ع9.8bر.ع676.6m11.6x13.4x0.9x
Mon, 10 Jun 2024ر.ع9.2bر.ع9.9bر.ع673.8m12.3x13.6x0.9x
Wed, 08 May 2024ر.ع9.2bر.ع9.8bر.ع680.2m11.6x13.5x0.9x
Fri, 05 Apr 2024ر.ع9.1bر.ع9.7bر.ع648.5m11.4x14x0.9x
Sun, 03 Mar 2024ر.ع8.8bر.ع9.6bر.ع740.8m11.5x11.9x0.9x
Tue, 30 Jan 2024ر.ع9.3bر.ع9.7bر.ع787.2m11.6x11.8x1x
Thu, 28 Dec 2023ر.ع9.2bر.ع9.6bر.ع792.4m11.5x11.6x1x
Sat, 25 Nov 2023ر.ع9.3bر.ع9.6bر.ع790.2m11.9x11.8x1x
Mon, 23 Oct 2023ر.ع8.5bر.ع9.5bر.ع714.6m11.7x11.8x0.9x
Wed, 20 Sep 2023ر.ع8.7bر.ع9.4bر.ع627.7m11.7x13.8x0.9x
Fri, 18 Aug 2023ر.ع8.8bر.ع9.3bر.ع587.3m13.3x15x0.9x
Sun, 16 Jul 2023ر.ع8.8bر.ع9.3bر.ع595.9m13.6x14.8x0.9x
Tue, 13 Jun 2023ر.ع8.6bر.ع9.3bر.ع578.7m12.7x14.8x0.9x
Thu, 11 May 2023ر.ع8.5bر.ع9.1bر.ع617.0m13.1x13.8x0.9x
Price to Earnings Ratio

13.8x


Total Market Cap: ر.ع8.5bTotal Earnings: ر.ع617.0mTotal 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 15.5x 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 Market2.45%
Utilities4.40%
Energy3.86%
Materials3.20%
Industrials2.51%
Telecom1.80%
Consumer Staples1.30%
Financials1.19%
Real Estate0%0
Healthcare0%0
Consumer Discretionary-0.049%
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 92.6x.
    • 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 0.6% 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.ع0.532.7%
+ر.ع111.6m		101.5%PE15.2xEnergy
ASCO Asyad Shipping Company SAOGر.ع0.295.4%
+ر.ع78.1m		180.0%PE26.7xEnergy
OQBI OQ Base Industries (SFZ) SAOGر.ع0.324.3%
+ر.ع45.0m		201.0%PE21.1xMaterials
OQGN OQ Gas Networks SAOGر.ع0.273.5%
+ر.ع39.0m		103.0%PE22.2xEnergy
ABRJ Abraj Energy Services SAOGر.ع0.4811.3%
+ر.ع37.7m		106.9%PE21.5xEnergy
See more

Market Insights

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We’re starting to see the second-order impact of Strait of Hormuz’s extended closure on other industries and in Q1 2026 reports - and it’s far more than just fuel and gas.
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Latest News

OQBI
ر.ع0.32
OQ Base Industries (SFZ) SAOG
7D
4.3%
1Y
201.0%
BKSB
ر.ع0.23
Sohar International Bank SAOG
7D
2.2%
1Y
75.2%

Oman Vision 2040 And Saudi Expansion Will Support A Stronger Banking Franchise

Catalysts About Sohar International Bank SAOG Sohar International Bank SAOG is a commercial bank in Oman with conventional, Islamic and cross border operations serving retail and wholesale clients. What are the underlying business or industry changes driving this perspective?
BKDB
ر.ع0.21
Bank Dhofar SAOG
7D
-0.5%
1Y
44.6%

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.ع0.48
Abraj Energy Services SAOG
7D
11.3%
1Y
106.9%
OQGN
ر.ع0.27
OQ Gas Networks SAOG
7D
3.5%
1Y
103.0%

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).
BWPC
ر.ع0.17
Barka Water and Power Company SAOG
7D
-2.8%
1Y
-32.2%
OFMI
ر.ع0.58
Oman Flour Mills Company SAOG
7D
-1.5%
1Y
33.7%
SSPW
ر.ع0.25
Sembcorp Salalah Power & Water Company SAOG
7D
11.6%
1Y
155.1%
AACT
ر.ع0.19
Al Anwar Ceramic Tiles Company SAOG
7D
-2.1%
1Y
6.2%
OCOI
ر.ع0.55
Oman Cement Company SAOG
7D
-0.5%
1Y
42.9%
NBOB
ر.ع0.40
National Bank of Oman SAOG
7D
2.8%
1Y
36.9%
ASCO
ر.ع0.29
Asyad Shipping Company SAOG
7D
5.4%
1Y
180.0%
AFIC
ر.ع0.14
Arabia Falcon Insurance SAOG
7D
-3.6%
1Y
17.4%
OQEP
ر.ع0.53
OQ Exploration and Production SAOG
7D
2.7%
1Y
101.5%
SPSI
ر.ع0.60
Salalah Port Services Company SAOG
7D
-2.6%
1Y
155.3%
ONES
ر.ع0.15
Oman National Engineering & Investment Company SAOG
7D
-3.1%
1Y
33.6%