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Moroccan (MASI) Market Analysis & Valuation

UpdatedJun 19, 2024
DataAggregated Company Financials
Companies70
  • 7D-0.3%
  • 3M2.0%
  • 1Y11.4%
  • YTD8.2%

In the last week, the market has been flat. Meanwhile, the market is actually up 11% over the past year. Earnings are forecast to grow by 12% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 19 Jun 2024د.م673.5bد.م291.3bد.م34.0b22.2x19.8x2.3x
Fri, 17 May 2024د.م685.3bد.م290.0bد.م33.0b21.9x20.8x2.4x
Sun, 14 Apr 2024د.م675.0bد.م289.4bد.م32.8b22.2x20.6x2.3x
Tue, 12 Mar 2024د.م652.6bد.م281.3bد.م32.3b23.1x20.2x2.3x
Thu, 08 Feb 2024د.م635.1bد.م283.7bد.م32.7b21.8x19.4x2.2x
Sat, 06 Jan 2024د.م632.0bد.م282.8bد.م32.7b20.9x19.3x2.2x
Mon, 04 Dec 2023د.م592.8bد.م278.1bد.م31.3b20.2x18.9x2.1x
Wed, 01 Nov 2023د.م606.9bد.م275.4bد.م30.1b20.8x20.2x2.2x
Fri, 29 Sep 2023د.م600.3bد.م273.7bد.م30.7b20.5x19.5x2.2x
Sun, 27 Aug 2023د.م605.9bد.م264.7bد.م29.4b20.8x20.6x2.3x
Tue, 25 Jul 2023د.م600.3bد.م258.7bد.م26.8b21x22.4x2.3x
Thu, 22 Jun 2023د.م585.9bد.م263.1bد.م27.1b20.2x21.6x2.2x
Sat, 20 May 2023د.م549.3bد.م252.7bد.م26.9b20.8x20.4x2.2x
Mon, 17 Apr 2023د.م537.6bد.م228.7bد.م27.0b18.6x19.9x2.4x
Wed, 15 Mar 2023د.م544.7bد.م238.9bد.م26.9b18.4x20.2x2.3x
Fri, 10 Feb 2023د.م554.1bد.م234.6bد.م27.5b18.9x20.2x2.4x
Sun, 08 Jan 2023د.م500.4bد.م233.0bد.م27.4b17.3x18.3x2.1x
Tue, 06 Dec 2022د.م566.4bد.م256.9bد.م27.8b20.6x20.3x2.2x
Thu, 03 Nov 2022د.م551.5bد.م256.5bد.م27.7b20.1x19.9x2.2x
Sat, 01 Oct 2022د.م590.6bد.م247.0bد.م27.0b22.7x21.9x2.4x
Mon, 29 Aug 2022د.م618.2bد.م244.6bد.م26.8b24.4x23.1x2.5x
Wed, 27 Jul 2022د.م600.9bد.م244.8bد.م29.2b21.9x20.6x2.5x
Fri, 24 Jun 2022د.م607.8bد.م246.4bد.م28.7b23x21.2x2.5x
Sun, 22 May 2022د.م639.1bد.م242.8bد.م28.1b23.5x22.7x2.6x
Tue, 19 Apr 2022د.م657.7bد.م236.7bد.م27.1b24.1x24.3x2.8x
Thu, 17 Mar 2022د.م649.8bد.م236.1bد.م26.8b22.9x24.3x2.8x
Sat, 12 Feb 2022د.م708.2bد.م235.7bد.م26.4b26.3x26.8x3x
Mon, 10 Jan 2022د.م682.9bد.م235.6bد.م26.4b26.4x25.9x2.9x
Wed, 08 Dec 2021د.م668.8bد.م235.5bد.م26.2b24.5x25.6x2.8x
Fri, 05 Nov 2021د.م684.6bد.م234.4bد.م25.8b25.6x26.5x2.9x
Sun, 03 Oct 2021د.م663.1bد.م226.2bد.م23.4b29.8x28.4x2.9x
Tue, 31 Aug 2021د.م640.5bد.م224.8bد.م20.8b31.6x30.7x2.8x
Wed, 07 Jul 2021د.م625.8bد.م224.8bد.م20.8b31.6x30x2.8x
Price to Earnings Ratio

30x


Total Market Cap: د.م625.8bTotal Earnings: د.م20.8bTotal Revenue: د.م224.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Moroccan Market Price to Earnings3Y Average 22.5x202220232024
Current Market PE
  • Investors are pessimistic on the Moroccan market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 19.8x which is lower than its 3-year average PE of 22.5x.
Past Earnings Growth
  • The earnings for Moroccan listed companies have grown 18% per year over the last three years.
  • Revenues for these companies have grown 9.0% 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-0.30%
Industrials1.86%
Healthcare1.46%
Energy1.33%
Real Estate1.17%
Tech1.12%
Utilities0.76%
Financials-0.27%
Consumer Discretionary-0.36%
Materials-0.69%
Consumer Staples-1.44%
Telecom-1.76%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 25.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 40.7% which is higher than its past year's earnings decline of 45.3% per year.
  • The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 21.0x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 41% over the next 5 years.
  • This is better than its past earnings decline of 45% per year.
  • In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
MSA Société d'Exploitation des Portsد.م301.002.7%
+د.م579.8m
20.4%PE25.9xIndustrials
MNG Managemد.م2.30k1.1%
+د.م296.6m
13.4%PE53xMaterials
TQM TAQA Moroccoد.م1.33k0.8%
+د.م235.9m
26.7%PE29.1xUtilities
GAZ Afriquia Gazد.م4.13k1.3%
+د.م185.6m
-6.2%PE29.5xEnergy
SOT Société de Therapeutique Marocaineد.م1.03k2.5%
+د.م180.0m
-17.3%PE28.1xHealthcare
See more
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Market Insights

Last week, we looked at some of the reasons the healthcare sector has underperformed over the last few years...

Latest News

MNG

د.م2,300.00

Managem

7D

1.1%

1Y

13.4%

BOA

د.م193.00

Bank of Africa

7D

-0.5%

1Y

9.2%

CDM

د.م870.00

Crédit du Maroc

7D

-2.2%

1Y

11.5%

WAA

د.م3,950.00

Wafa Assurance

7D

-1.3%

1Y

-5.3%

GAZ

د.م4,129.00

Afriquia Gaz

7D

1.3%

1Y

-6.2%

SBM

د.م2,330.00

Societe des Boissons du Maroc

7D

-6.8%

1Y

-12.1%

MSA

د.م301.00

Société d'Exploitation des Ports

7D

2.7%

1Y

20.4%

TQM

د.م1,330.00

TAQA Morocco

7D

0.8%

1Y

26.7%

IAM

د.م89.30

Itissalat Al-Maghrib (IAM)

7D

-1.8%

1Y

-9.6%

ADI

د.م250.00

Alliances Developpement Immobilier

7D

2.9%

1Y

213.6%

TGC

د.م311.00

Travaux Généraux de Construction de Casablanca

7D

1.3%

1Y

106.0%

RDS

د.م82.00

Résidences Dar Saada

7D

5.8%

1Y

421.0%

SOT

د.م1,025.00

Société de Therapeutique Marocaine

7D

2.5%

1Y

-17.3%

LBV

د.م4,170.00

Label Vie

7D

-3.0%

1Y

-13.0%

LHM

د.م1,910.00

LafargeHolcim Maroc

7D

-1.3%

1Y

9.1%

CMA

د.م1,760.00

Ciments du Maroc Société Anonyme

7D

-2.1%

1Y

11.0%