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Canadian (TSX) Market Analysis & Valuation

UpdatedSep 11, 2026
DataAggregated Company Financials
Companies2209
  • 7D-2.5%
  • 3M1.1%
  • 1Y21.7%
  • YTD12.3%

Over the last 7 days, the market has dropped 2.5%, driven by pullbacks in every sector, especially the Financials sector. In the last year, the market is actually up 22%. Looking forward, 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
Fri, 11 Sep 2026CA$5.6tCA$2.3tCA$255.9b16.9x21.9x2.4x
Sun, 09 Aug 2026CA$5.6tCA$2.3tCA$252.7b16.5x22.4x2.4x
Tue, 07 Jul 2026CA$5.5tCA$2.3tCA$245.7b16.3x22.5x2.5x
Thu, 04 Jun 2026CA$5.6tCA$2.2tCA$243.6b16.6x22.8x2.5x
Sat, 02 May 2026CA$5.4tCA$2.2tCA$240.8b16.5x22.3x2.5x
Mon, 30 Mar 2026CA$5.0tCA$2.2tCA$240.7b15.7x20.9x2.3x
Wed, 25 Feb 2026CA$5.3tCA$2.1tCA$236.6b17.2x22.5x2.5x
Fri, 23 Jan 2026CA$5.1tCA$2.1tCA$224.8b17.4x22.9x2.4x
Sun, 21 Dec 2025CA$4.9tCA$2.1tCA$224.7b16.4x21.9x2.3x
Tue, 18 Nov 2025CA$4.7tCA$2.1tCA$224.4b15.9x21x2.2x
Thu, 16 Oct 2025CA$4.8tCA$2.2tCA$209.6b16.8x22.7x2.2x
Sat, 13 Sep 2025CA$4.6tCA$2.1tCA$208.5b16.3x22.2x2.2x
Mon, 11 Aug 2025CA$4.3tCA$2.1tCA$201.9b15.7x21.5x2x
Wed, 09 Jul 2025CA$4.3tCA$2.1tCA$191.6b16.1x22.4x2x
Fri, 06 Jun 2025CA$4.2tCA$2.1tCA$191.8b15.5x21.9x2x
Sun, 04 May 2025CA$4.0tCA$2.1tCA$175.8b14.8x22.7x1.9x
Tue, 01 Apr 2025CA$3.9tCA$2.1tCA$174.0b15.2x22.7x1.9x
Thu, 27 Feb 2025CA$4.0tCA$2.1tCA$169.9b14.9x23.5x1.9x
Sat, 25 Jan 2025CA$4.0tCA$2.1tCA$171.2b15x23.1x1.9x
Mon, 23 Dec 2024CA$3.8tCA$2.1tCA$169.2b13.8x22.7x1.8x
Wed, 20 Nov 2024CA$3.9tCA$2.1tCA$167.4b14.6x23.3x1.8x
Fri, 18 Oct 2024CA$3.9tCA$2.1tCA$168.1b15.7x23.3x1.9x
Sun, 15 Sep 2024CA$3.8tCA$2.1tCA$167.4b15.1x22.5x1.8x
Tue, 13 Aug 2024CA$3.6tCA$2.1tCA$170.3b14.4x21x1.7x
Thu, 11 Jul 2024CA$3.5tCA$2.0tCA$166.6b13.9x21.3x1.7x
Sat, 08 Jun 2024CA$3.6tCA$2.1tCA$166.9b14.3x21.5x1.8x
Mon, 06 May 2024CA$3.5tCA$2.0tCA$172.9b14x20.4x1.7x
Wed, 03 Apr 2024CA$3.5tCA$2.0tCA$173.3b13.9x20.5x1.7x
Fri, 01 Mar 2024CA$3.4tCA$2.1tCA$172.2b13.9x19.8x1.7x
Sun, 28 Jan 2024CA$3.4tCA$2.1tCA$173.9b12.8x19.6x1.6x
Tue, 26 Dec 2023CA$3.4tCA$2.1tCA$172.8b13.2x19.5x1.6x
Thu, 23 Nov 2023CA$3.2tCA$2.1tCA$179.5b11.7x18.1x1.6x
Sat, 21 Oct 2023CA$3.1tCA$2.1tCA$185.3b11.4x16.8x1.5x
Mon, 18 Sep 2023CA$3.3tCA$2.1tCA$184.5b11.9x18.1x1.6x
Price to Earnings Ratio

18.1x


Total Market Cap: CA$3.3tTotal Earnings: CA$184.5bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.6x202420252026
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 21.6x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 12% per year over the last three years.
  • Revenues for these companies have grown 3.3% 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-2.55%
Energy-0.82%
Utilities-0.94%
Healthcare-1.30%
Consumer Staples-1.63%
Consumer Discretionary-2.33%
Financials-2.63%
Real Estate-2.99%
Industrials-3.06%
Telecom-3.23%
Materials-3.75%
Tech-4.60%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 25.3%, which is higher than its past year's earnings growth of 13.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 41% over the next 5 years.
  • This is better than its past earnings growth rate of 1.3% per year.
  • In contrast, the Utilities sector is expected to see its earnings grow by 4.8% 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
CLS CelesticaCA$450.345.3%
+CA$2.6b		32.4%PE33.5xTech
CVE Cenovus EnergyCA$46.162.0%
+CA$1.7b		97.4%PE12.8xEnergy
IVN Ivanhoe MinesCA$12.779.5%
+CA$1.6b		0.7%PE95.8xMaterials
QSP.UN Restaurant Brands International Limited PartnershipCA$110.093.9%
+CA$1.4b		25.9%PE14.7xConsumer Discretionary
SU Suncor EnergyCA$95.311.2%
+CA$1.3b		64.0%PE12.5xEnergy
See more

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Latest News

CSU
CA$2,759.24
Constellation Software
7D
-9.3%
1Y
-37.7%
ENB
CA$66.74
Enbridge
7D
-4.2%
1Y
-1.1%
TLO
CA$11.20
Talon Metals
7D
50.3%
1Y
190.9%
TIH
CA$202.32
Toromont Industries
7D
3.7%
1Y
36.9%
RY
CA$284.98
Royal Bank of Canada
7D
-2.5%
1Y
41.9%
WCP
CA$18.71
Whitecap Resources
7D
3.3%
1Y
78.4%
Narrative Update • Sep 09

WCP: Future Upside Will Hinge On Free Cash Flow Funded Dividends

Analysts have modestly lifted the Whitecap Resources price target to around CA$24, citing the company's ability to convert strong Montney oil wells into one of the largest free cash flow streams in Canadian shale. What’s in the News for Whitecap Resources Whitecap Resources is featured for offering a monthly dividend with a yield around 4.1%, with recent commentary highlighting its appeal for income focused investors and the role of free cash flow in supporting the payout.
CLS
CA$450.34
Celestica
7D
5.3%
1Y
32.4%
BAM
CA$65.39
Brookfield Asset Management
7D
-5.7%
1Y
-16.7%
IVN
CA$12.77
Ivanhoe Mines
7D
9.5%
1Y
0.7%
Narrative Update • Sep 09

IVN: Copper And Zinc Delivery Should Support A Patiently Balanced Re Rating

Ivanhoe Mines' updated fair value estimate shifts to CA$12.78 from CA$12.31. This reflects analysts' recent adjustments to price targets in the CA$12 to CA$13.20 range as they balance expectations for long term copper growth potential with near term margin pressure from lower gold prices and higher diesel costs.
TRI
CA$132.53
Thomson Reuters
7D
-13.9%
1Y
-45.6%
Narrative Update • Sep 08

TRI: Proprietary Legal AI Platform Will Drive Future Upside Potential

Analysts have modestly reduced their CA$ fair value estimate for Thomson Reuters to about CA$174 from roughly CA$179, while pointing to slightly higher projected revenue growth, a stable profit margin near 24% and a P/E assumption close to 27x as the key inputs behind this updated price target view. What's in the News for Thomson Reuters Thomson Reuters launched its first proprietary large language model, called Thomson.
QSP.UN
CA$110.09
Restaurant Brands International Limited Partnership
7D
3.9%
1Y
25.9%
CVE
CA$46.16
Cenovus Energy
7D
2.0%
1Y
97.4%
BN
CA$52.64
Brookfield
7D
-5.6%
1Y
-17.0%
TD
CA$166.31
Toronto-Dominion Bank
7D
-2.1%
1Y
56.5%
Narrative Update • Sep 03

TD: Future Will Balance AI Use With Capital Markets Momentum Risks

Analysts have nudged their fair value estimate for Toronto Dominion Bank higher to CA$179.14 from CA$170.38, reflecting updated assumptions around revenue growth, profit margins, valuation multiples, and a lower discount rate following a series of recent price target increases across the Street. Analyst Commentary Street research on Toronto Dominion Bank points to a mixed but generally constructive view.
ABX
CA$60.14
Barrick Mining
7D
-4.6%
1Y
47.8%
Narrative Update • Sep 03

ABX: Capital-Intensive Spinoff Plans Will Pressure Future Share Returns

Analysts have nudged their fair value estimate for Barrick Mining higher, lifting the implied long term price target from about CA$32.46 to roughly CA$33.69. Updated assumptions point to a lower future P/E multiple, with stronger projected profit margins offsetting more measured revenue growth expectations.
SU
CA$95.31
Suncor Energy
7D
1.2%
1Y
64.0%