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Moroccan (MASI) Market Analysis & Valuation
UpdatedApr 04, 2026
DataAggregated Company Financials
Companies75
- 7D2.4%
- 3M-6.8%
- 1Y3.2%
- YTD-6.8%
The market is up 2.4% over the last week, with the Materials sector leading the way, up 12%. On the other hand, with a decline of 3.1%, the Communication Services sector is lagging behind. As for the past 12 months, the market is up 3.2%. As for the next few years, earnings are expected to grow by 21% per annum.
Market Valuation and Performance
Has the Moroccan Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 05 Apr 2026 | د.م974.5b | د.م343.7b | د.م46.8b | 21.4x | 20.8x | 2.8x |
| Tue, 03 Mar 2026 | د.م1.0t | د.م341.6b | د.م46.3b | 21.1x | 21.6x | 2.9x |
| Thu, 29 Jan 2026 | د.م1.0t | د.م341.5b | د.م46.4b | 23.4x | 22.5x | 3.1x |
| Sat, 27 Dec 2025 | د.م1.0t | د.م339.8b | د.م46.2b | 22.9x | 21.7x | 3x |
| Mon, 24 Nov 2025 | د.م948.9b | د.م325.0b | د.م44.9b | 21.7x | 21.1x | 2.9x |
| Wed, 22 Oct 2025 | د.م986.8b | د.م321.7b | د.م44.5b | 22.5x | 22.2x | 3.1x |
| Fri, 19 Sep 2025 | د.م1.0t | د.م311.8b | د.م43.4b | 24.5x | 23.7x | 3.3x |
| Sun, 17 Aug 2025 | د.م1.0t | د.م311.2b | د.م43.3b | 25.5x | 23.7x | 3.3x |
| Tue, 15 Jul 2025 | د.م977.7b | د.م309.7b | د.م37.3b | 24.4x | 26.2x | 3.2x |
| Thu, 12 Jun 2025 | د.م963.7b | د.م313.4b | د.م37.4b | 24.5x | 25.8x | 3.1x |
| Sat, 10 May 2025 | د.م913.7b | د.م311.6b | د.م36.0b | 23.8x | 25.4x | 2.9x |
| Mon, 07 Apr 2025 | د.م881.4b | د.م299.6b | د.م34.4b | 22.5x | 25.6x | 2.9x |
| Wed, 05 Mar 2025 | د.م847.4b | د.م299.9b | د.م34.2b | 22.7x | 24.8x | 2.8x |
| Fri, 31 Jan 2025 | د.م807.7b | د.م297.1b | د.م32.8b | 24x | 24.6x | 2.7x |
| Sun, 29 Dec 2024 | د.م736.9b | د.م299.1b | د.م32.8b | 22.3x | 22.5x | 2.5x |
| Tue, 26 Nov 2024 | د.م739.7b | د.م294.1b | د.م32.1b | 22.1x | 23x | 2.5x |
| Thu, 24 Oct 2024 | د.م716.7b | د.م294.1b | د.م32.1b | 21.4x | 22.3x | 2.4x |
| Sat, 21 Sep 2024 | د.م724.0b | د.م290.4b | د.م30.2b | 24.3x | 24x | 2.5x |
| Mon, 19 Aug 2024 | د.م710.1b | د.م291.1b | د.م30.0b | 22.6x | 23.7x | 2.4x |
| Wed, 17 Jul 2024 | د.م688.2b | د.م290.7b | د.م34.0b | 22.1x | 20.3x | 2.4x |
| Fri, 14 Jun 2024 | د.م674.3b | د.م291.3b | د.م34.0b | 22.1x | 19.8x | 2.3x |
| Sun, 12 May 2024 | د.م691.8b | د.م289.7b | د.م32.9b | 21.8x | 21.1x | 2.4x |
| Tue, 09 Apr 2024 | د.م669.4b | د.م286.3b | د.م32.6b | 23.3x | 20.5x | 2.3x |
| Thu, 07 Mar 2024 | د.م657.6b | د.م281.3b | د.م32.3b | 23.2x | 20.4x | 2.3x |
| Sat, 03 Feb 2024 | د.م635.5b | د.م283.7b | د.م32.7b | 21.8x | 19.5x | 2.2x |
| Mon, 01 Jan 2024 | د.م617.6b | د.م282.8b | د.م32.7b | 20.6x | 18.9x | 2.2x |
| Wed, 29 Nov 2023 | د.م594.5b | د.م278.0b | د.م31.4b | 20.1x | 19x | 2.1x |
| Fri, 27 Oct 2023 | د.م607.4b | د.م275.4b | د.م30.1b | 20.3x | 20.2x | 2.2x |
| Sun, 24 Sep 2023 | د.م596.0b | د.م273.4b | د.م30.6b | 20.3x | 19.5x | 2.2x |
| Tue, 22 Aug 2023 | د.م609.8b | د.م264.8b | د.م29.5b | 20.5x | 20.7x | 2.3x |
| Thu, 20 Jul 2023 | د.م596.0b | د.م258.7b | د.م26.8b | 20.6x | 22.3x | 2.3x |
| Sat, 17 Jun 2023 | د.م583.5b | د.م256.3b | د.م26.9b | 20.9x | 21.7x | 2.3x |
| Mon, 15 May 2023 | د.م548.7b | د.م252.5b | د.م26.9b | 19.8x | 20.4x | 2.2x |
| Wed, 12 Apr 2023 | د.م539.5b | د.م241.1b | د.م27.1b | 17.8x | 19.9x | 2.2x |
Price to Earnings Ratio
19.9x
Current Market PE
- Investors are relatively neutral on the Moroccan 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 22.1x.
Past Earnings Growth
- The earnings for Moroccan listed companies have grown 20% 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 Moroccan Market?
| MA Market | 2.40% | |
| Materials | 11.79% | |
| Real Estate | 3.36% | |
| Tech | 2.19% | |
| Utilities | 1.69% | |
| Consumer Discretionary | 1.53% | |
| Consumer Staples | 0.43% | |
| Industrials | 0.24% | |
| Financials | 0.20% | |
| Energy | 0% | 0 |
| Healthcare | -1.62% | |
| Telecom | -3.05% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 34.7x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 46.1%, which is higher than its past year's earnings growth of 24.3% per year.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 31.4x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 53% over the next 5 years.
- This is better than its past earnings growth rate of 20% per year.
- In contrast, the Telecom sector is expected to see its earnings decline by 7.5% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| MNG Managem | د.م10.00k | 18.3% +د.م18.4b | 98.0% | PE160x | Materials | |
| SMI Societe Metallurgique d'Imiter société anonyme | د.م7.10k | 22.0% +د.م2.1b | 221.9% | PE65.4x | Materials | |
| MSA Société d'Exploitation des Ports | د.م775.00 | 1.7% +د.م954.1m | 5.4% | PE40.2x | Industrials | |
| TQM TAQA Morocco | د.م1.80k | 1.7% +د.م707.7m | -14.3% | PE43.3x | Utilities | |
| ADH Douja Promotion Groupe Addoha | د.م31.70 | 5.7% +د.م683.7m | -26.3% | PE36x | Real Estate |
