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Omani (MSM) Market Analysis & Valuation

UpdatedJan 12, 2026
DataAggregated Company Financials
Companies100
  • 7D3.5%
  • 3M15.6%
  • 1Y26.1%
  • YTD4.2%

Over the last 7 days, the market has risen 3.5%, driven by gains in the Energy and Financials sectors of 4.2% and 3.1%, respectively. As for the past 12 months, the market is up 26%. Earnings are forecast to grow by 6.0% 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, 12 Jan 2026ر.ع16.6bر.ع12.4bر.ع1.4b10.8x12x1.3x
Wed, 10 Dec 2025ر.ع16.1bر.ع12.4bر.ع1.4b10.3x11.6x1.3x
Fri, 07 Nov 2025ر.ع15.2bر.ع12.3bر.ع1.4b10x10.6x1.2x
Sun, 05 Oct 2025ر.ع14.4bر.ع12.1bر.ع1.4b9.9x10.5x1.2x
Tue, 02 Sep 2025ر.ع14.2bر.ع12.1bر.ع1.4b10.4x10.4x1.2x
Thu, 31 Jul 2025ر.ع13.2bر.ع12.0bر.ع1.3b10.6x10.1x1.1x
Sat, 28 Jun 2025ر.ع12.7bر.ع11.6bر.ع1.2b10x10.4x1.1x
Mon, 26 May 2025ر.ع12.4bر.ع11.6bر.ع1.2b10.1x10.1x1.1x
Wed, 23 Apr 2025ر.ع11.8bر.ع11.6bر.ع1.2b9.4x9.7x1x
Fri, 21 Mar 2025ر.ع12.3bر.ع11.1bر.ع1.2b9.9x10.6x1.1x
Sun, 16 Feb 2025ر.ع11.8bر.ع15.8b-ر.ع129,079,794.0010.4x-91.6x0.7x
Tue, 14 Jan 2025ر.ع12.3bر.ع10.1bر.ع699.7m11.2x17.6x1.2x
Thu, 12 Dec 2024ر.ع11.5bر.ع10.1bر.ع710.1m10.8x16.2x1.1x
Sat, 09 Nov 2024ر.ع12.1bر.ع10.1bر.ع685.6m10.5x17.6x1.2x
Mon, 07 Oct 2024ر.ع9.0bر.ع10.0bر.ع680.6m10.8x13.2x0.9x
Wed, 04 Sep 2024ر.ع9.2bر.ع10.0bر.ع680.1m11.2x13.6x0.9x
Fri, 02 Aug 2024ر.ع9.0bر.ع9.9bر.ع692.9m11.3x13.1x0.9x
Sun, 30 Jun 2024ر.ع9.1bر.ع9.9bر.ع678.5m12x13.4x0.9x
Tue, 28 May 2024ر.ع9.2bر.ع9.9bر.ع673.3m11.8x13.7x0.9x
Thu, 25 Apr 2024ر.ع9.1bر.ع9.8bر.ع680.7m11.5x13.4x0.9x
Sat, 23 Mar 2024ر.ع9.1bر.ع9.7bر.ع644.3m11.5x14.2x0.9x
Mon, 19 Feb 2024ر.ع8.9bر.ع9.5bر.ع736.1m11.4x12.1x0.9x
Wed, 17 Jan 2024ر.ع9.3bر.ع9.6bر.ع790.4m11.6x11.7x1x
Fri, 15 Dec 2023ر.ع9.3bر.ع9.6bر.ع790.4m11.7x11.7x1x
Sun, 12 Nov 2023ر.ع9.0bر.ع9.6bر.ع772.0m11.8x11.6x0.9x
Tue, 10 Oct 2023ر.ع8.7bر.ع9.4bر.ع626.2m12x14x0.9x
Thu, 07 Sep 2023ر.ع8.7bر.ع9.4bر.ع625.2m12.5x13.9x0.9x
Sat, 05 Aug 2023ر.ع8.8bر.ع9.3bر.ع594.3m13.6x14.9x0.9x
Mon, 03 Jul 2023ر.ع8.8bر.ع9.3bر.ع595.7m13.3x14.7x0.9x
Wed, 31 May 2023ر.ع8.4bر.ع9.3bر.ع577.7m12.7x14.6x0.9x
Fri, 28 Apr 2023ر.ع8.6bر.ع9.0bر.ع603.7m12.3x14.3x1x
Sun, 26 Mar 2023ر.ع8.6bر.ع9.0bر.ع593.8m12.7x14.6x1x
Tue, 21 Feb 2023ر.ع8.2bر.ع8.7bر.ع554.9m11x14.8x0.9x
Thu, 19 Jan 2023ر.ع8.4bر.ع8.7bر.ع575.7m10.8x14.5x1x
Price to Earnings Ratio

14.5x


Total Market Cap: ر.ع8.4bTotal Earnings: ر.ع575.7mTotal Revenue: ر.ع8.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Omani Market Price to Earnings3Y Average 12.6x202420252026
Current Market PE
  • Investors are relatively neutral on the Omani market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 12.6x.
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 12% 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 Market3.51%
Utilities5.54%
Consumer Staples5.46%
Energy4.18%
Industrials4.01%
Materials3.15%
Financials3.13%
Telecom1.24%
Consumer Discretionary0.46%
Real Estate0%0
Healthcare0%0
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 26.6x.
    • 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 close to its 3-year average of 6.0x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 17% over the next 5 years.
  • However this is lower than its past earnings growth rate of 22% per year.
  • In contrast, the Materials sector is expected to see its earnings decline by 4.3% 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.ع0.384.6%
+ر.ع135.9m		12.6%PE10.5xEnergy
BKDB Bank Dhofar SAOGر.ع0.1712.9%
+ر.ع60.8m		13.8%PB0.7xFinancials
BKMB Bank Muscat SAOGر.ع0.342.4%
+ر.ع60.1m		33.9%PB1xFinancials
OQGN OQ Gas Networks SAOGر.ع0.215.1%
+ر.ع43.3m		52.6%PE18.3xEnergy
ASCO Asyad Shipping Company SAOGر.ع0.193.2%
+ر.ع31.3m		n/aPE29.4xEnergy
See more

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Latest News

OQGN
ر.ع0.21
OQ Gas Networks SAOG
7D
5.1%
1Y
52.6%

OQGN: Stable Fair Value And Upcoming Board Review Will Shape Outlook

Analysts have kept their fair value estimate for OQ Gas Networks SAOG stable at $0.19 per share. They explained that only very small tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions were needed, which did not justify a change in the overall price target.
NBOB
ر.ع0.40
National Bank of Oman SAOG
7D
4.7%
1Y
36.5%
BKMB
ر.ع0.34
Bank Muscat SAOG
7D
2.4%
1Y
33.9%

BKMB: Fair Value Will Likely Stay Steady With Slightly Stronger Profitability Assumptions

Analysts have slightly raised their fair value estimate for Bank Muscat SAOG from US$0.37 to US$0.37 per share, reflecting updated assumptions on revenue growth, profit margins and future P/E multiples. Valuation Changes The fair value estimate was adjusted slightly higher from US$0.3693 to US$0.3745 per share, reflecting the updated model inputs.
MCTI
ر.ع0.70
Muscat Insurance Company SAOG
7D
-11.4%
1Y
118.8%
BKSB
ر.ع0.16
Sohar International Bank SAOG
7D
-0.6%
1Y
14.3%

BKSB: Steady Risk Profile And Profit Margins Will Shape Future Outlook

Analysts have modestly raised their price target on Sohar International Bank SAOG to approximately OMR 0.17, reflecting slightly lower perceived risk and sustained expectations for double digit revenue growth and strong profit margins. Valuation Changes The fair value estimate remains unchanged at approximately OMR 0.17 per share, indicating no material reassessment of intrinsic value.
MHAS
ر.ع1.09
Al Maha Petroleum Products Marketing Company SAOG
7D
-1.9%
1Y
4.8%
MSPW
ر.ع0.31
Musandam Power Company SAOG
7D
-6.1%
1Y
12.3%
BKNZ
ر.ع0.12
Bank Nizwa SAOG
7D
10.1%
1Y
21.2%
BRDE
ر.ع0.15
Barka Desalination Company SAOG
7D
-2.6%
1Y
19.2%
OCOI
ر.ع0.49
Oman Cement Company SAOG
7D
-2.2%
1Y
24.1%
ASCO
ر.ع0.19
Asyad Shipping Company SAOG
7D
3.2%
1Y
n/a
OQEP
ر.ع0.38
OQ Exploration and Production SAOG
7D
4.6%
1Y
12.6%
BKDB
ر.ع0.17
Bank Dhofar SAOG
7D
12.9%
1Y
13.8%
OAB
ر.ع0.18
Oman Arab Bank SAOG
7D
-0.6%
1Y
16.4%
OMVS
ر.ع0.35
Oman International Development and Investment Company SAOG
7D
6.9%
1Y
51.1%
OCCI
ر.ع3.70
Oman Chromite Company SAOG
7D
-2.6%
1Y
0%