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Canadian (TSX) Market Analysis & Valuation

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies2207
  • 7D-4.3%
  • 3M7.2%
  • 1Y35.3%
  • YTD4.8%

Over the last 7 days, the market has dropped 4.3%, driven by a loss of 10% in the Materials sector. Meanwhile, the Information Technology sector has outperformed, gaining 7.9% in that time. In contrast to the last week, the market is actually up 35% over the past year. Earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026CA$5.2tCA$2.1tCA$239.8b16.4x21.7x2.4x
Thu, 05 Feb 2026CA$5.1tCA$2.1tCA$224.7b17.3x22.7x2.4x
Sat, 03 Jan 2026CA$4.9tCA$2.1tCA$224.4b16.4x22x2.3x
Mon, 01 Dec 2025CA$4.9tCA$2.1tCA$224.1b16.5x21.7x2.3x
Wed, 29 Oct 2025CA$4.7tCA$2.2tCA$215.5b16.5x21.8x2.2x
Fri, 26 Sep 2025CA$4.7tCA$2.2tCA$209.1b16.5x22.3x2.2x
Sun, 24 Aug 2025CA$4.5tCA$2.1tCA$201.8b16.1x22.1x2.1x
Tue, 22 Jul 2025CA$4.3tCA$2.1tCA$191.0b16.4x22.8x2x
Thu, 19 Jun 2025CA$4.3tCA$2.1tCA$191.8b15.5x22.3x2x
Sat, 17 May 2025CA$4.1tCA$2.1tCA$183.1b14.3x22.3x1.9x
Mon, 14 Apr 2025CA$3.8tCA$2.1tCA$173.1b14.3x21.7x1.8x
Wed, 12 Mar 2025CA$3.9tCA$2.1tCA$175.3b14.6x22.1x1.8x
Fri, 07 Feb 2025CA$3.9tCA$2.1tCA$169.0b14.7x23.3x1.9x
Sun, 05 Jan 2025CA$3.9tCA$2.1tCA$169.3b14.4x23.2x1.8x
Tue, 03 Dec 2024CA$4.0tCA$2.1tCA$166.3b14.8x24x1.9x
Thu, 31 Oct 2024CA$3.9tCA$2.1tCA$168.1b15.3x23.2x1.8x
Sat, 28 Sep 2024CA$3.8tCA$2.1tCA$167.6b15.5x22.9x1.8x
Mon, 26 Aug 2024CA$3.7tCA$2.1tCA$166.6b15.1x22.3x1.8x
Wed, 24 Jul 2024CA$3.7tCA$2.1tCA$167.8b14x21.9x1.8x
Fri, 21 Jun 2024CA$3.5tCA$2.0tCA$167.3b14x20.7x1.7x
Sun, 19 May 2024CA$3.6tCA$2.0tCA$167.0b14.2x21.9x1.8x
Tue, 16 Apr 2024CA$3.5tCA$2.1tCA$174.6b14x20.2x1.7x
Thu, 14 Mar 2024CA$3.5tCA$2.1tCA$173.7b13.8x20.1x1.7x
Sat, 10 Feb 2024CA$3.4tCA$2.1tCA$174.2b13.1x19.3x1.6x
Mon, 08 Jan 2024CA$3.4tCA$2.1tCA$173.1b13x19.5x1.6x
Wed, 06 Dec 2023CA$3.3tCA$2.1tCA$172.0b12x19x1.6x
Fri, 03 Nov 2023CA$3.1tCA$2.1tCA$180.7b12.1x17.1x1.5x
Sun, 01 Oct 2023CA$3.2tCA$2.1tCA$185.2b11.5x17.1x1.5x
Tue, 29 Aug 2023CA$3.2tCA$2.1tCA$184.9b11.5x17.4x1.5x
Thu, 27 Jul 2023CA$3.3tCA$2.1tCA$199.1b11.8x16.7x1.6x
Sat, 24 Jun 2023CA$3.1tCA$2.1tCA$200.8b10.9x15.6x1.5x
Mon, 22 May 2023CA$3.3tCA$2.1tCA$206.3b11.1x15.9x1.5x
Wed, 19 Apr 2023CA$3.4tCA$2.1tCA$217.4b10.7x15.5x1.6x
Fri, 17 Mar 2023CA$3.2tCA$2.1tCA$219.3b10.6x14.6x1.5x
Price to Earnings Ratio

14.6x


Total Market Cap: CA$3.2tTotal Earnings: CA$219.3bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 20.5x202420252026
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 20.5x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 3.0% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Canadian Market?

CA Market-4.27%
Tech7.94%
Telecom-0.58%
Healthcare-0.75%
Energy-0.90%
Utilities-0.98%
Consumer Staples-1.98%
Real Estate-2.25%
Industrials-2.95%
Consumer Discretionary-4.15%
Financials-4.25%
Materials-10.49%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 17.1%, which is lower than the prior year's growth of 19.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 51% over the next 5 years.
  • This is better than its past earnings growth rate of 19% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 8.5% 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$2.98k15.9%
+CA$8.7b		-38.0%PE67.6xTech
TRI Thomson ReutersCA$151.3911.3%
+CA$6.8b		-39.6%PE33.5xIndustrials
CNQ Canadian Natural ResourcesCA$62.773.6%
+CA$4.7b		53.4%PE12.1xEnergy
TOI Topicus.comCA$111.0618.0%
+CA$1.4b		-21.6%PE140.4xTech
LMN Lumine GroupCA$26.0524.8%
+CA$1.3b		-33.5%PE41.4xTech
See more

Market Insights

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Richard Bowman
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Latest News

CSU
CA$2,975.00
Constellation Software
7D
15.9%
1Y
-38.0%
BN
CA$55.78
Brookfield
7D
-7.2%
1Y
15.2%
SCR
CA$35.10
Strathcona Resources
7D
16.2%
1Y
32.2%
CNQ
CA$62.77
Canadian Natural Resources
7D
3.6%
1Y
53.4%
H
CA$59.55
Hydro One
7D
2.4%
1Y
24.3%

H: Stable Outlook And Higher P E Assumptions Will Shape Modest Repricing Potential

Our updated fair value estimate for Hydro One edges up by about CA$0.50 per share, reflecting a modest adjustment in projected growth assumptions as analysts lift their price targets into the CA$55 to CA$58 range while largely maintaining neutral to hold style ratings. Analyst Commentary Recent Street research on Hydro One points to a fairly clustered set of views, with several firms lifting their price targets into the mid CA$50s while keeping neutral style ratings.
ABX
CA$62.27
Barrick Mining
7D
-10.0%
1Y
137.1%

ABX: Planned Business Split Will Pressure Shares Despite Higher P/E Multiple

Analysts have adjusted their fair value estimate for Barrick Mining to CA$50.72 from CA$47.98, reflecting updated assumptions on revenue growth, profit margins, discount rates, and future P/E expectations. What's in the News Barrick Mining reported fourth quarter 2025 production of 871,000 ounces of gold and 62,000 tonnes of copper, and full year 2025 production of 3,255,000 ounces of gold and 220,000 tonnes of copper, compared with 3,911,000 ounces of gold and 195,000 tonnes of copper a year earlier (company announcement of operating results).
LMN
CA$26.05
Lumine Group
7D
24.8%
1Y
-33.5%
BNS
CA$96.23
Bank of Nova Scotia
7D
-6.9%
1Y
39.2%
K
CA$44.18
Kinross Gold
7D
-12.1%
1Y
189.7%

K: Higher Future P/E Will Likely Overstate Benefits Of Ongoing Projects

Analysts have lifted their Kinross Gold price target from about CA$17.51 to roughly CA$24.28, citing updated assumptions for discount rate, revenue growth, profit margin, and future P/E that collectively reshape their valuation outlook. What's in the News Approved a quarterly dividend of $0.04 per common share for the fourth quarter of 2025, payable on March 26, 2026, to shareholders of record on March 11, 2026, with the payout classified as an eligible dividend for Canadian tax purposes and subject to withholding for non residents (Key Developments).
WPM
CA$201.03
Wheaton Precious Metals
7D
-11.3%
1Y
99.7%

WPM: Long Term Metal Price Assumptions Will Restrain Upside Potential

The analyst price target for Wheaton Precious Metals has been revised slightly higher to CA$188. Analysts linked their updated views to refreshed 2026 metal price forecasts and company guidance that was broadly in line with expectations.
TRI
CA$151.39
Thomson Reuters
7D
11.3%
1Y
-39.6%
CP
CA$113.92
Canadian Pacific Kansas City
7D
-6.8%
1Y
6.1%
RY
CA$221.95
Royal Bank of Canada
7D
-3.8%
1Y
36.0%
TOI
CA$111.06
Topicus.com
7D
18.0%
1Y
-21.6%
TD
CA$129.47
Toronto-Dominion Bank
7D
-3.7%
1Y
52.6%
QSP.UN
CA$97.14
Restaurant Brands International Limited Partnership
7D
3.3%
1Y
-0.7%