Moroccan (MASI) Market Analysis & Valuation
UpdatedJul 09, 2024
DataAggregated Company Financials
Companies69
- 7D0.4%
- 3M0.9%
- 1Y15.1%
- YTD10.0%
Over the last 7 days, the market has remained flat, although notably the Healthcare sector gained 6.8% in that time. As for the longer term, the market has risen 15% in the past 12 months. Earnings are forecast to grow by 13% annually.
Market Valuation and Performance
Has the Moroccan Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 09 Jul 2024 | د.م684.6b | د.م290.7b | د.م34.0b | 21.9x | 20.2x | 2.4x |
| Thu, 06 Jun 2024 | د.م667.5b | د.م290.4b | د.م33.9b | 22x | 19.7x | 2.3x |
| Sat, 04 May 2024 | د.م687.9b | د.م291.3b | د.م33.2b | 21.7x | 20.7x | 2.4x |
| Mon, 01 Apr 2024 | د.م660.5b | د.م281.3b | د.م32.4b | 23x | 20.4x | 2.3x |
| Wed, 28 Feb 2024 | د.م666.4b | د.م282.7b | د.م32.6b | 22.8x | 20.4x | 2.4x |
| Fri, 26 Jan 2024 | د.م648.7b | د.م283.1b | د.م32.7b | 22.2x | 19.8x | 2.3x |
| Sun, 24 Dec 2023 | د.م620.5b | د.م282.8b | د.م32.0b | 20.7x | 19.4x | 2.2x |
| Tue, 21 Nov 2023 | د.م605.1b | د.م275.7b | د.م30.2b | 20.2x | 20x | 2.2x |
| Thu, 19 Oct 2023 | د.م618.1b | د.م275.0b | د.م29.7b | 20.8x | 20.8x | 2.2x |
| Sat, 16 Sep 2023 | د.م598.1b | د.م270.1b | د.م29.9b | 20x | 20x | 2.2x |
| Mon, 14 Aug 2023 | د.م612.8b | د.م259.6b | د.م29.2b | 21.3x | 21x | 2.4x |
| Wed, 12 Jul 2023 | د.م587.8b | د.م258.7b | د.م26.8b | 20.7x | 21.9x | 2.3x |
| Fri, 09 Jun 2023 | د.م560.2b | د.م255.6b | د.م26.6b | 21.4x | 21.1x | 2.2x |
| Sun, 07 May 2023 | د.م530.3b | د.م252.5b | د.م27.1b | 19.5x | 19.6x | 2.1x |
| Tue, 04 Apr 2023 | د.م534.3b | د.م239.6b | د.م26.8b | 18.3x | 19.9x | 2.2x |
| Thu, 02 Mar 2023 | د.م559.1b | د.م234.8b | د.م26.6b | 19.8x | 21x | 2.4x |
| Sat, 28 Jan 2023 | د.م521.9b | د.م234.6b | د.م27.5b | 17.8x | 19x | 2.2x |
| Mon, 26 Dec 2022 | د.م561.8b | د.م258.9b | د.م28.4b | 20.3x | 19.8x | 2.2x |
| Wed, 23 Nov 2022 | د.م549.2b | د.م257.2b | د.م28.0b | 19.4x | 19.6x | 2.1x |
| Fri, 21 Oct 2022 | د.م562.2b | د.م256.4b | د.م27.6b | 21x | 20.4x | 2.2x |
| Sun, 18 Sep 2022 | د.م618.7b | د.م244.6b | د.م26.8b | 25x | 23.1x | 2.5x |
| Tue, 16 Aug 2022 | د.م617.6b | د.م244.6b | د.م26.8b | 23.6x | 23.1x | 2.5x |
| Thu, 14 Jul 2022 | د.م598.9b | د.م244.8b | د.م29.2b | 22.1x | 20.5x | 2.4x |
| Sat, 11 Jun 2022 | د.م636.8b | د.م246.2b | د.م28.2b | 23.7x | 22.6x | 2.6x |
| Mon, 09 May 2022 | د.م659.5b | د.م239.8b | د.م27.8b | 23.3x | 23.7x | 2.8x |
| Wed, 06 Apr 2022 | د.م650.7b | د.م235.8b | د.م26.9b | 24.1x | 24.2x | 2.8x |
| Fri, 04 Mar 2022 | د.م655.1b | د.م235.9b | د.م26.5b | 23.5x | 24.8x | 2.8x |
| Sun, 30 Jan 2022 | د.م699.2b | د.م235.7b | د.م26.4b | 26.1x | 26.5x | 3x |
| Tue, 28 Dec 2021 | د.م670.9b | د.م236.5b | د.م26.4b | 24.7x | 25.5x | 2.8x |
| Thu, 25 Nov 2021 | د.م677.0b | د.م234.8b | د.م25.8b | 25.1x | 26.3x | 2.9x |
| Sat, 23 Oct 2021 | د.م674.6b | د.م232.4b | د.م25.2b | 26.6x | 26.8x | 2.9x |
| Mon, 20 Sep 2021 | د.م656.6b | د.م223.8b | د.م20.8b | 32.7x | 31.6x | 2.9x |
| Wed, 18 Aug 2021 | د.م637.7b | د.م224.8b | د.م20.8b | 30.4x | 30.6x | 2.8x |
Price to Earnings Ratio
30.4x
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 22.2x.
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 8.9% 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 | 0.43% | |
| Healthcare | 6.76% | |
| Energy | 5.05% | |
| Utilities | 1.12% | |
| Financials | 1.06% | |
| Industrials | 0.32% | |
| Real Estate | 0.13% | |
| Consumer Discretionary | -0.014% | |
| Consumer Staples | -0.86% | |
| Materials | -0.97% | |
| Telecom | -1.03% | |
| Tech | -1.33% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 25.4x.
- 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?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| ATW Attijariwafa bank | د.م526.00 | 2.1% +د.م2.2b | 21.5% | PB1.8x | Financials | |
| AKT Akdital | د.م780.00 | 9.8% +د.م880.3m | 116.0% | PE76.7x | Healthcare | |
| BCP Banque Centrale Populaire | د.م298.00 | 1.4% +د.م812.6m | 14.1% | PB1.7x | Financials | |
| GAZ Afriquia Gaz | د.م4.10k | 5.1% +د.م677.2m | -4.7% | PE29.3x | Energy | |
| BOA Bank of Africa | د.م194.00 | 1.6% +د.م637.7m | 10.7% | PB1.5x | Financials |
