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Canadian (TSX) Market Analysis & Valuation

UpdatedAug 05, 2026
DataAggregated Company Financials
Companies2190
  • 7D0.7%
  • 3M4.7%
  • 1Y30.5%
  • YTD13.9%

Over the last 7 days, the market has remained flat, although notably the Information Technology sector gained 5.9% in that time. More promisingly, the market is up 30% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 05 Aug 2026CA$5.5tCA$2.3tCA$245.4b16.5x22.5x2.4x
Fri, 03 Jul 2026CA$5.5tCA$2.3tCA$245.7b16.3x22.3x2.4x
Sun, 31 May 2026CA$5.5tCA$2.2tCA$243.1b16.8x22.6x2.5x
Tue, 28 Apr 2026CA$5.3tCA$2.2tCA$241.1b16.8x22.2x2.5x
Thu, 26 Mar 2026CA$5.0tCA$2.2tCA$239.0b16x21x2.3x
Sat, 21 Feb 2026CA$5.3tCA$2.2tCA$230.1b17.2x22.9x2.4x
Mon, 19 Jan 2026CA$5.1tCA$2.1tCA$225.2b17.2x22.8x2.4x
Wed, 17 Dec 2025CA$4.9tCA$2.1tCA$224.7b16.3x21.8x2.3x
Fri, 14 Nov 2025CA$4.8tCA$2.1tCA$223.6b16.4x21.4x2.2x
Sun, 12 Oct 2025CA$4.7tCA$2.2tCA$209.4b16.4x22.3x2.2x
Tue, 09 Sep 2025CA$4.6tCA$2.1tCA$208.5b16.4x21.9x2.1x
Thu, 07 Aug 2025CA$4.4tCA$2.1tCA$194.1b16.1x22.5x2.1x
Sat, 05 Jul 2025CA$4.3tCA$2.1tCA$191.5b15.9x22.5x2x
Mon, 02 Jun 2025CA$4.2tCA$2.1tCA$192.1b14.9x21.6x2x
Wed, 30 Apr 2025CA$4.0tCA$2.1tCA$173.9b14.9x22.8x1.9x
Fri, 28 Mar 2025CA$4.0tCA$2.1tCA$174.0b15.2x23x1.9x
Sun, 23 Feb 2025CA$4.0tCA$2.1tCA$169.1b14.8x23.6x1.9x
Tue, 21 Jan 2025CA$3.9tCA$2.1tCA$171.1b14.3x22.8x1.8x
Thu, 19 Dec 2024CA$3.9tCA$2.1tCA$169.6b13.9x23x1.8x
Sat, 16 Nov 2024CA$3.9tCA$2.1tCA$167.8b14.5x23.3x1.8x
Mon, 14 Oct 2024CA$3.9tCA$2.1tCA$168.0b15.7x23.2x1.8x
Wed, 11 Sep 2024CA$3.7tCA$2.1tCA$167.4b15x22x1.8x
Fri, 09 Aug 2024CA$3.5tCA$2.1tCA$168.6b13.7x20.8x1.7x
Sun, 07 Jul 2024CA$3.5tCA$2.0tCA$166.7b13.9x21.3x1.7x
Tue, 04 Jun 2024CA$3.6tCA$2.0tCA$166.2b14.3x21.7x1.8x
Thu, 02 May 2024CA$3.5tCA$2.1tCA$173.4b13.8x20.2x1.7x
Sat, 30 Mar 2024CA$3.5tCA$2.0tCA$175.1b13.8x20.3x1.7x
Mon, 26 Feb 2024CA$3.4tCA$2.0tCA$171.2b14.1x20x1.7x
Wed, 24 Jan 2024CA$3.4tCA$2.1tCA$173.3b13.3x19.4x1.6x
Fri, 22 Dec 2023CA$3.3tCA$2.1tCA$172.8b13.1x19.2x1.6x
Sun, 19 Nov 2023CA$3.2tCA$2.1tCA$179.9b12x17.9x1.6x
Tue, 17 Oct 2023CA$3.2tCA$2.1tCA$185.1b11.5x17.2x1.5x
Thu, 14 Sep 2023CA$3.3tCA$2.1tCA$184.6b11.8x17.7x1.5x
Sat, 12 Aug 2023CA$3.3tCA$2.1tCA$187.6b11.7x17.7x1.6x
Price to Earnings Ratio

17.7x


Total Market Cap: CA$3.3tTotal Earnings: CA$187.6bTotal 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 9.4% per year over the last three years.
  • Revenues for these companies have grown 2.8% 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 Market0.73%
Tech5.94%
Materials4.37%
Consumer Discretionary1.37%
Industrials0.77%
Energy0.38%
Financials-0.40%
Consumer Staples-0.99%
Healthcare-1.07%
Utilities-1.08%
Real Estate-2.65%
Telecom-2.82%
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 52.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 36.5%, 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 Financials sector is expected to see its earnings grow by 5.8% 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
BAM Brookfield Asset ManagementCA$73.167.9%
+CA$8.5b		-13.7%PE32.9xFinancials
BN BrookfieldCA$62.815.0%
+CA$6.8b		1.8%PE87.5xFinancials
CCO CamecoCA$130.9810.2%
+CA$5.3b		24.5%PE160.7xEnergy
CNQ Canadian Natural ResourcesCA$64.934.0%
+CA$5.2b		50.0%PE13.9xEnergy
CSU Constellation SoftwareCA$3.22k6.8%
+CA$4.3b		-32.7%PE65.4xTech
See more

Market Insights

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Latest News

T
CA$13.39
TELUS
7D
-14.4%
1Y
-38.7%
CNQ
CA$64.93
Canadian Natural Resources
7D
4.0%
1Y
50.0%
Narrative Update • Aug 04

CNQ: Future Oilsands Expansion Will Test Market Optimism On Execution Risks

Analysts have adjusted their fair value estimate for Canadian Natural Resources to CA$60.00, reflecting updated views on its revenue outlook, profit margin profile and the P/E multiple they apply to the stock. Recent Street research has shown mixed moves in official price targets, including a reduction to CA$71.00 and earlier revisions between CA$70.00 and CA$74.00, alongside Sector Perform and Outperform ratings.
ENB
CA$75.09
Enbridge
7D
-3.8%
1Y
16.6%
Narrative Update • Aug 04

ENB: Future Returns Will Reflect Regulated Assets And Sunrise Gas Expansion

Analysts have modestly raised the fair value estimate for Enbridge, lifting the price target from CA$78.48 to CA$80.14, as they factor in recent target changes across the Street and updated views on the company’s growth mix and valuation. Analyst Commentary Recent Street research on Enbridge shows a mix of optimism and caution as analysts reassess the stock's valuation, execution and growth profile following recent quarterly updates and management meetings.
TRP
CA$91.96
TC Energy
7D
-3.7%
1Y
36.4%
IFC
CA$283.16
Intact Financial
7D
-7.2%
1Y
-1.9%
BAM
CA$73.16
Brookfield Asset Management
7D
7.9%
1Y
-13.7%
BN
CA$62.81
Brookfield
7D
5.0%
1Y
1.8%
CLS
CA$523.74
Celestica
7D
6.4%
1Y
93.4%
CSU
CA$3,224.99
Constellation Software
7D
6.8%
1Y
-32.7%
Narrative Update • Aug 03

CSU: Expense And Hardware Pressures Will Frame Measured Upside From Here

Constellation Software's analyst price targets have seen mixed revisions recently, with several firms trimming their CA$-based targets and citing updated models that factor in higher expense levels and hardware cost pressures following the latest quarterly results. Analyst Commentary Recent research on Constellation Software points to a more cautious tone from several bearish analysts, even as some targets remain relatively high in absolute terms.
CCO
CA$130.98
Cameco
7D
10.2%
1Y
24.5%
FFH
CA$2,407.07
Fairfax Financial Holdings
7D
-1.7%
1Y
-0.5%
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$127.42
Canadian Pacific Kansas City
7D
-1.6%
1Y
23.2%
TD
CA$167.90
Toronto-Dominion Bank
7D
-1.2%
1Y
67.0%
FM
CA$42.12
First Quantum Minerals
7D
12.3%
1Y
80.5%
TECK.B
CA$91.02
Teck Resources
7D
10.0%
1Y
102.8%
Narrative Update • Jul 27

TECK.B: Anglo Merger And Copper Expansion Will Shape Future Cash Generation Risk Balance

The analyst price target for Teck Resources has been revised to CA$86.76 from CA$85.00. This reflects recent Street research that highlights ongoing strong cash generation and exposure to energy transition metals as key supports for the updated outlook.
RY
CA$293.47
Royal Bank of Canada
7D
-2.0%
1Y
63.0%