Moroccan (MASI) Market Analysis & Valuation
UpdatedMay 08, 2024
DataAggregated Company Financials
Companies69
- 7D0.6%
- 3M7.6%
- 1Y27.7%
- YTD10.3%
Over the last 7 days, the market has remained flat, although notably the Utilities sector gained 7.8% in that time. As for the longer term, the market has risen 28% in the past 12 months. Earnings are forecast to grow by 12% 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 |
|---|---|---|---|---|---|---|
| Wed, 08 May 2024 | د.م685.3b | د.م289.9b | د.م32.9b | 21.8x | 20.8x | 2.4x |
| Fri, 05 Apr 2024 | د.م664.9b | د.م282.3b | د.م32.5b | 23.3x | 20.5x | 2.4x |
| Sun, 03 Mar 2024 | د.م661.4b | د.م281.6b | د.م32.3b | 23.1x | 20.5x | 2.3x |
| Tue, 30 Jan 2024 | د.م634.8b | د.م283.6b | د.م32.7b | 22.5x | 19.4x | 2.2x |
| Thu, 28 Dec 2023 | د.م617.4b | د.م284.5b | د.م32.8b | 20.4x | 18.8x | 2.2x |
| Sat, 25 Nov 2023 | د.م603.5b | د.م278.0b | د.م31.4b | 20.2x | 19.2x | 2.2x |
| Mon, 23 Oct 2023 | د.م617.5b | د.م275.4b | د.م30.1b | 20.6x | 20.5x | 2.2x |
| Wed, 20 Sep 2023 | د.م598.4b | د.م273.2b | د.م30.7b | 19.9x | 19.5x | 2.2x |
| Fri, 18 Aug 2023 | د.م611.1b | د.م264.8b | د.م29.5b | 20.7x | 20.7x | 2.3x |
| Sun, 16 Jul 2023 | د.م589.0b | د.م258.7b | د.م26.8b | 20.6x | 22x | 2.3x |
| Tue, 13 Jun 2023 | د.م561.8b | د.م255.6b | د.م26.6b | 21.1x | 21.1x | 2.2x |
| Thu, 11 May 2023 | د.م536.3b | د.م252.8b | د.م27.3b | 19.5x | 19.7x | 2.1x |
| Sat, 08 Apr 2023 | د.م538.1b | د.م239.6b | د.م26.8b | 18.7x | 20.1x | 2.2x |
| Mon, 06 Mar 2023 | د.م552.2b | د.م238.1b | د.م26.7b | 19.1x | 20.6x | 2.3x |
| Wed, 01 Feb 2023 | د.م532.5b | د.م234.6b | د.م27.5b | 18.3x | 19.4x | 2.3x |
| Fri, 30 Dec 2022 | د.م557.8b | د.م233.0b | د.م27.4b | 19.9x | 20.3x | 2.4x |
| Sun, 27 Nov 2022 | د.م549.2b | د.م257.2b | د.م28.0b | 19.1x | 19.6x | 2.1x |
| Tue, 25 Oct 2022 | د.م557.0b | د.م256.5b | د.م27.7b | 20.2x | 20.1x | 2.2x |
| Thu, 22 Sep 2022 | د.م620.6b | د.م236.1b | د.م26.9b | 24.8x | 23.1x | 2.6x |
| Sat, 20 Aug 2022 | د.م617.2b | د.م244.6b | د.م26.8b | 23.9x | 23x | 2.5x |
| Mon, 18 Jul 2022 | د.م600.9b | د.م244.8b | د.م29.2b | 21.9x | 20.6x | 2.5x |
| Wed, 15 Jun 2022 | د.م623.2b | د.م246.4b | د.م28.2b | 23.2x | 22.1x | 2.5x |
| Fri, 13 May 2022 | د.م640.0b | د.م240.1b | د.م27.9b | 23.2x | 22.9x | 2.7x |
| Sun, 10 Apr 2022 | د.م652.6b | د.م235.6b | د.م27.2b | 24x | 24x | 2.8x |
| Tue, 08 Mar 2022 | د.م633.3b | د.م235.8b | د.م26.4b | 23x | 23.9x | 2.7x |
| Thu, 03 Feb 2022 | د.م706.1b | د.م235.7b | د.م26.4b | 26x | 26.7x | 3x |
| Sat, 01 Jan 2022 | د.م676.0b | د.م236.5b | د.م26.4b | 26.4x | 25.6x | 2.9x |
| Mon, 29 Nov 2021 | د.م671.0b | د.م235.2b | د.م26.0b | 24.8x | 25.8x | 2.9x |
| Wed, 27 Oct 2021 | د.م685.4b | د.م232.4b | د.م25.2b | 27.2x | 27.2x | 2.9x |
| Fri, 24 Sep 2021 | د.م659.5b | د.م223.4b | د.م20.9b | 32.6x | 31.6x | 3x |
| Sun, 22 Aug 2021 | د.م637.2b | د.م224.8b | د.م20.8b | 30.6x | 30.6x | 2.8x |
| Fri, 09 Jul 2021 | د.م625.8b | د.م224.8b | د.م20.8b | 31.6x | 30x | 2.8x |
Price to Earnings Ratio
30.7x
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 22.8x.
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 | 0.61% | |
| Utilities | 7.77% | |
| Financials | 1.59% | |
| Tech | 0.52% | |
| Healthcare | 0.12% | |
| Materials | -0.11% | |
| Telecom | -0.26% | |
| Industrials | -0.63% | |
| Energy | -0.96% | |
| Consumer Staples | -1.03% | |
| Consumer Discretionary | -1.93% | |
| Real Estate | -3.73% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 24.5x.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 21.3x.
Forecasted Growth
- Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 30% over the next 5 years.
- This is better than its past earnings growth rate of 6.0% per year.
- In contrast, the Utilities 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 | |
|---|---|---|---|---|---|---|
| TQM TAQA Morocco | د.م1.40k | 7.8% +د.م2.4b | 45.2% | PE31.9x | Utilities | |
| ATW Attijariwafa bank | د.م509.60 | 1.6% +د.م1.6b | 28.2% | PB1.8x | Financials | |
| BOA Bank of Africa | د.م196.00 | 2.1% +د.م850.3m | 23.9% | PB1.6x | Financials | |
| WAA Wafa Assurance | د.م4.43k | 5.4% +د.م798.0m | 21.3% | PE23.1x | Financials | |
| BCP Banque Centrale Populaire | د.م294.90 | 1.0% +د.م589.2m | 29.1% | PB1.7x | Financials |
