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Canadian (TSX) Market Analysis & Valuation

UpdatedAug 03, 2026
DataAggregated Company Financials
Companies2197
  • 7D-0.4%
  • 3M4.2%
  • 1Y30.2%
  • YTD11.8%

In the last week, the market has stayed flat, however the Information Technology sector stood out, gaining 4.5%. As for the longer term, the market has risen 30% in the past 12 months. Earnings are forecast to grow by 11% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 03 Aug 2026CA$5.5tCA$2.3tCA$246.9b16.3x22.4x2.4x
Wed, 01 Jul 2026CA$5.5tCA$2.3tCA$245.7b16.1x22.2x2.4x
Fri, 29 May 2026CA$5.5tCA$2.2tCA$243.1b16.6x22.5x2.5x
Sun, 26 Apr 2026CA$5.3tCA$2.2tCA$241.2b16.9x22.2x2.5x
Tue, 24 Mar 2026CA$4.9tCA$2.1tCA$239.0b15.7x20.6x2.3x
Thu, 19 Feb 2026CA$5.2tCA$2.1tCA$229.3b17.5x22.6x2.4x
Sat, 17 Jan 2026CA$5.1tCA$2.1tCA$225.1b17.2x22.8x2.4x
Mon, 15 Dec 2025CA$4.9tCA$2.1tCA$224.8b16.2x21.8x2.3x
Wed, 12 Nov 2025CA$4.7tCA$2.1tCA$221.9b16.5x21.2x2.2x
Fri, 10 Oct 2025CA$4.8tCA$2.2tCA$209.3b16.6x22.8x2.2x
Sun, 07 Sep 2025CA$4.5tCA$2.1tCA$208.6b16.3x21.8x2.1x
Tue, 05 Aug 2025CA$4.3tCA$2.1tCA$195.2b15.9x22x2x
Thu, 03 Jul 2025CA$4.3tCA$2.1tCA$191.4b15.8x22.3x2x
Sat, 31 May 2025CA$4.2tCA$2.1tCA$192.2b14.9x21.7x2x
Mon, 28 Apr 2025CA$3.9tCA$2.1tCA$174.0b14.9x22.7x1.9x
Wed, 26 Mar 2025CA$4.0tCA$2.1tCA$173.7b15.4x23.1x1.9x
Fri, 21 Feb 2025CA$4.0tCA$2.1tCA$169.6b15.1x23.8x1.9x
Sun, 19 Jan 2025CA$3.9tCA$2.1tCA$171.3b14.3x22.8x1.8x
Tue, 17 Dec 2024CA$3.9tCA$2.1tCA$169.4b14.3x23.3x1.9x
Thu, 14 Nov 2024CA$3.9tCA$2.1tCA$167.6b14.6x23.3x1.8x
Sat, 12 Oct 2024CA$3.9tCA$2.1tCA$167.9b15.7x23x1.8x
Mon, 09 Sep 2024CA$3.6tCA$2.1tCA$167.4b14.8x21.8x1.7x
Wed, 07 Aug 2024CA$3.6tCA$2.1tCA$167.1b13.7x21.4x1.7x
Fri, 05 Jul 2024CA$3.6tCA$2.0tCA$166.4b14.1x21.5x1.7x
Sun, 02 Jun 2024CA$3.6tCA$2.0tCA$166.2b14.4x21.7x1.8x
Tue, 30 Apr 2024CA$3.5tCA$2.1tCA$173.1b13.9x20.4x1.7x
Thu, 28 Mar 2024CA$3.5tCA$2.0tCA$175.5b13.9x20.2x1.7x
Sat, 24 Feb 2024CA$3.4tCA$2.1tCA$173.5b14.1x19.8x1.7x
Mon, 22 Jan 2024CA$3.4tCA$2.1tCA$173.2b12.9x19.4x1.6x
Wed, 20 Dec 2023CA$3.3tCA$2.1tCA$173.0b12.8x19.1x1.6x
Fri, 17 Nov 2023CA$3.2tCA$2.1tCA$179.9b11.9x17.9x1.6x
Sun, 15 Oct 2023CA$3.2tCA$2.1tCA$185.2b11.6x17.1x1.5x
Tue, 12 Sep 2023CA$3.3tCA$2.1tCA$184.8b11.8x17.7x1.5x
Thu, 10 Aug 2023CA$3.3tCA$2.1tCA$184.3b11.7x17.9x1.6x
Price to Earnings Ratio

17.9x


Total Market Cap: CA$3.3tTotal Earnings: CA$184.3bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.4x202420252026
Current Market PE
  • Investors are relatively neutral on the Canadian 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 21.4x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 10% per year over the last three years.
  • Revenues for these companies have grown 2.7% 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 Canadian Market?

CA Market-0.41%
Tech4.50%
Consumer Discretionary1.81%
Energy0.78%
Consumer Staples0.73%
Financials-0.25%
Telecom-0.68%
Real Estate-1.09%
Healthcare-1.89%
Utilities-1.92%
Industrials-2.05%
Materials-2.37%
Sector PE
  • Investors favour the Real Estate sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 37.1%, which is higher than its past year's earnings growth of 1.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 37% over the next 5 years.
  • This is better than its past earnings growth rate of 1.3% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 2.1% 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
CSU Constellation SoftwareCA$3.00k12.6%
+CA$7.1b		-36.4%PE61.1xTech
TRI Thomson ReutersCA$137.528.2%
+CA$4.6b		-51.2%PE28xIndustrials
BAM Brookfield Asset ManagementCA$67.813.8%
+CA$4.0b		-17.8%PE30.6xFinancials
CLS CelesticaCA$463.877.9%
+CA$3.9b		72.5%PE34.1xTech
CNQ Canadian Natural ResourcesCA$66.782.0%
+CA$2.7b		56.3%PE14.3xEnergy
See more

Market Insights

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Latest News

CLS
CA$463.87
Celestica
7D
7.9%
1Y
72.5%
ATD
CA$91.01
Alimentation Couche-Tard
7D
2.5%
1Y
29.7%
New Narrative • Aug 02

Can they absorb Zabka Group?

Couche-Tard sits inside the top tenth of the TGI watchlist on the primary rank and higher still on dividend growth, with a payout ratio near ten percent. It arrived there in the same three months it agreed to acquire Poland's Żabka Group for approximately US$8.6 billion, the largest acquisition in its history, funded entirely with debt, and the first network it has promised not to absorb.
CNR
CA$178.25
Canadian National Railway
7D
-2.5%
1Y
39.2%
BBD.B
CA$337.74
Bombardier
7D
-7.8%
1Y
106.1%
PPL
CA$68.54
Pembina Pipeline
7D
-5.4%
1Y
33.6%
Narrative Update • Aug 01

PPL: Ethane Supply Expansion And Capital Returns Will Support Balanced Outlook

Analysts have raised their price target on Pembina Pipeline to CA$71.22 from CA$69.72, citing updated assumptions that include a slightly different revenue growth outlook, a modestly higher profit margin, and a similar forward P/E profile. What's in the News for Pembina Pipeline Pembina Pipeline authorized a normal course issuer bid on May 13, 2026 to repurchase up to 29,071,759 shares, or 5% of outstanding common shares, with the bid set to expire on May 18, 2027.
TRP
CA$94.40
TC Energy
7D
-5.2%
1Y
41.4%
Narrative Update • Aug 01

TRP: Data Center Gas Demand And Q2 Execution Will Shape Forward Risk Reward

TC Energy's updated analyst price target edges higher to CA$98.78 from CA$96.09, reflecting analysts' refreshed assumptions for modestly stronger revenue growth, slightly firmer profit margins and a similar forward P/E backdrop following a series of target increases across major Canadian brokers. Analyst Commentary Recent Street research on TC Energy shows a cluster of higher price targets, with analysts updating their models after Q1 and Q2 reporting, sector wide reviews and refreshed commodity price assumptions.
FFH
CA$2,347.56
Fairfax Financial Holdings
7D
1.0%
1Y
-2.3%
Narrative Update • Aug 01

FFH: Softer Insurance Cycle Will Test Margins Yet Support Future Upside

Fairfax Financial Holdings' analyst price target has shifted modestly lower in recent weeks, with a reduced fair value estimate of about CA$2,680. This aligns with Street commentary that now frames the stock as fairly valued and facing softer insurance markets that may weigh on margins and combined ratios.
CP
CA$124.52
Canadian Pacific Kansas City
7D
-4.5%
1Y
23.8%
POW
CA$95.80
Power Corporation of Canada
7D
3.1%
1Y
71.2%
IFC
CA$275.25
Intact Financial
7D
-6.2%
1Y
-2.8%
CSU
CA$3,002.99
Constellation Software
7D
12.6%
1Y
-36.4%
TRI
CA$137.52
Thomson Reuters
7D
8.2%
1Y
-51.2%
BN
CA$59.58
Brookfield
7D
1.4%
1Y
-0.8%
ENB
CA$76.28
Enbridge
7D
-4.9%
1Y
19.7%
BAM
CA$67.81
Brookfield Asset Management
7D
3.8%
1Y
-17.8%
CNQ
CA$66.78
Canadian Natural Resources
7D
2.0%
1Y
56.3%
Narrative Update • Jul 21

CNQ: Future Cash Returns Look Supported By Record Output And Carbon Capture

Analysts have raised their fair value estimate for Canadian Natural Resources from CA$75.00 to about CA$83.23, citing updated assumptions for revenue growth, profit margins, and a lower future P/E multiple, along with recent shifts in Street price targets in the CA$71 to CA$74 range. Analyst Commentary Recent research on Canadian Natural Resources shows a range of views on valuation, but several bullish analysts are highlighting upside potential tied to execution and capital allocation.