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Canadian (TSX) Market Analysis & Valuation

UpdatedAug 12, 2026
DataAggregated Company Financials
Companies2191
  • 7D1.1%
  • 3M5.0%
  • 1Y31.3%
  • YTD14.8%

The market is up 1.1% over the last week, with the Materials sector leading the way, up 9.7%. In contrast, the Information Technology sector is lagging, dropping 5.3%. In the last year, the market has climbed 31%. 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
Thu, 13 Aug 2026CA$5.7tCA$2.3tCA$254.0b16.4x22.3x2.4x
Sat, 11 Jul 2026CA$5.5tCA$2.3tCA$245.6b16.5x22.4x2.4x
Mon, 08 Jun 2026CA$5.4tCA$2.2tCA$244.1b15.9x22.3x2.4x
Wed, 06 May 2026CA$5.3tCA$2.2tCA$240.6b16.3x22x2.4x
Fri, 03 Apr 2026CA$5.2tCA$2.2tCA$240.6b16.1x21.5x2.4x
Sun, 01 Mar 2026CA$5.4tCA$2.1tCA$238.8b17.6x22.6x2.5x
Tue, 27 Jan 2026CA$5.2tCA$2.1tCA$224.5b17.4x23.2x2.4x
Thu, 25 Dec 2025CA$5.0tCA$2.1tCA$224.3b16.5x22.1x2.3x
Sat, 22 Nov 2025CA$4.7tCA$2.1tCA$224.5b16x20.7x2.2x
Mon, 20 Oct 2025CA$4.7tCA$2.2tCA$209.5b16.6x22.5x2.2x
Wed, 17 Sep 2025CA$4.6tCA$2.1tCA$208.6b16.4x22.2x2.2x
Fri, 15 Aug 2025CA$4.4tCA$2.1tCA$201.1b15.7x21.8x2.1x
Sun, 13 Jul 2025CA$4.3tCA$2.1tCA$191.7b16.1x22.4x2x
Tue, 10 Jun 2025CA$4.3tCA$2.1tCA$191.8b15.4x22.2x2x
Thu, 08 May 2025CA$4.0tCA$2.1tCA$176.5b15x22.6x1.9x
Sat, 05 Apr 2025CA$3.9tCA$2.1tCA$173.9b14x22.4x1.8x
Mon, 03 Mar 2025CA$4.0tCA$2.1tCA$172.6b15x23.3x1.9x
Wed, 29 Jan 2025CA$3.9tCA$2.1tCA$171.3b15x22.9x1.8x
Fri, 27 Dec 2024CA$3.9tCA$2.1tCA$169.2b14x22.9x1.8x
Sun, 24 Nov 2024CA$4.0tCA$2.1tCA$166.9b14.5x23.8x1.9x
Tue, 22 Oct 2024CA$4.0tCA$2.1tCA$168.2b15.4x23.5x1.9x
Thu, 19 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.1x22.6x1.8x
Sat, 17 Aug 2024CA$3.7tCA$2.1tCA$170.2b14.6x21.6x1.8x
Mon, 15 Jul 2024CA$3.6tCA$2.0tCA$166.7b14x21.9x1.8x
Wed, 12 Jun 2024CA$3.6tCA$2.1tCA$167.4b14.4x21.3x1.7x
Fri, 10 May 2024CA$3.6tCA$2.1tCA$171.1b14.2x21x1.8x
Sun, 07 Apr 2024CA$3.6tCA$2.0tCA$174.3b14.1x20.5x1.7x
Tue, 05 Mar 2024CA$3.4tCA$2.1tCA$176.7b13.7x19.5x1.7x
Thu, 01 Feb 2024CA$3.4tCA$2.1tCA$173.8b12.9x19.7x1.6x
Sat, 30 Dec 2023CA$3.4tCA$2.1tCA$172.8b13.3x19.5x1.6x
Mon, 27 Nov 2023CA$3.2tCA$2.1tCA$179.1b11.8x18x1.5x
Wed, 25 Oct 2023CA$3.1tCA$2.1tCA$185.2b11x16.7x1.5x
Fri, 22 Sep 2023CA$3.2tCA$2.1tCA$184.4b11.8x17.4x1.5x
Sun, 20 Aug 2023CA$3.2tCA$2.1tCA$185.8b11.5x17.3x1.5x
Price to Earnings Ratio

17.3x


Total Market Cap: CA$3.2tTotal Earnings: CA$185.8bTotal 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 11% per year over the last three years.
  • Revenues for these companies have grown 3.0% 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 Market1.10%
Materials9.68%
Telecom1.44%
Healthcare1.25%
Consumer Discretionary0.49%
Energy0.072%
Financials-0.27%
Industrials-1.44%
Real Estate-1.54%
Consumer Staples-1.95%
Utilities-2.40%
Tech-5.29%
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 25.4%, which is higher than its past year's earnings growth of 6.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 42% over the next 5 years.
  • This is better than its past earnings growth rate of 1.7% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 5.7% 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
WPM Wheaton Precious MetalsCA$186.9815.1%
+CA$11.1b		40.8%PE29.7xMaterials
EQX Equinox GoldCA$16.2220.1%
+CA$8.3b		73.1%PE27.5xMaterials
BAM Brookfield Asset ManagementCA$77.045.3%
+CA$6.2b		-10.8%PE31.5xFinancials
K Kinross GoldCA$37.9314.3%
+CA$5.6b		42.3%PE10.2xMaterials
FNV Franco-NevadaCA$334.848.8%
+CA$5.2b		36.7%PE33.9xMaterials
See more

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FNV
CA$334.84
Franco-Nevada
7D
8.8%
1Y
36.7%
MFC
CA$61.04
Manulife Financial
7D
-3.1%
1Y
46.9%
EQX
CA$16.22
Equinox Gold
7D
20.1%
1Y
73.1%
BAM
CA$77.04
Brookfield Asset Management
7D
5.3%
1Y
-10.8%
CLS
CA$432.72
Celestica
7D
-17.4%
1Y
47.1%
K
CA$37.93
Kinross Gold
7D
14.3%
1Y
42.3%
Narrative Update • Aug 11

K: Free Cash Flow And New Chile Project Will Support Higher Future Returns

Analysts have reduced their price targets on Kinross Gold to reflect a lower fair value estimate of CA$64.65, down from CA$67.96. They cite updated assumptions for revenue growth, profit margins, and a slightly higher discount rate applied to future cash flows.
TRI
CA$145.98
Thomson Reuters
7D
-4.7%
1Y
-38.7%
Analysis Article • Aug 10

Thomson Reuters Corporation Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

It's been a good week for Thomson Reuters Corporation ( TSE:TRI ) shareholders, because the company has just released...
LUG
CA$92.49
Lundin Gold
7D
13.3%
1Y
16.1%
WPM
CA$186.98
Wheaton Precious Metals
7D
15.1%
1Y
40.8%
SU
CA$88.25
Suncor Energy
7D
-2.8%
1Y
65.0%
PAAS
CA$72.19
Pan American Silver
7D
14.1%
1Y
63.7%
Narrative Update • Aug 07

PAAS: Project Execution And Precious Metal Upside Will Drive Future Returns

Analysts have updated their view on Pan American Silver with a lower fair value estimate and a higher CA$95 price target, reflecting revised assumptions for discount rates, revenue growth, profit margins and future P/E multiples in light of recent Street research. Analyst Commentary Recent Street research on Pan American Silver shows a mix of optimism and caution as analysts reset their price targets and model assumptions.
CCO
CA$137.51
Cameco
7D
5.0%
1Y
27.3%
Narrative Update • Aug 04

CCO: Uranium Bull Case And Cigar Lake Exposure Will Shape Future Returns

Analysts have revised their Cameco price target to CA$144.91 from CA$152.06. This reflects updates to their models that now assume different revenue growth, profit margin and future P/E expectations.
L
CA$62.09
Loblaw Companies
7D
-4.9%
1Y
7.5%
Narrative Update • Aug 04

L: Capital Returns And Earnings Consistency Will Support Balanced Forward Return Profile

Loblaw Companies sees its fair value estimate adjusted to CA$68.80 from CA$67.36 as analysts incorporate higher price targets from recent research, with CA$73 at BMO Capital and CA$67 at Scotiabank, while assuming only modest tweaks to growth, margin and future P/E expectations. Analyst Commentary Recent research on Loblaw Companies shows a mix of optimism and caution, with price targets adjusted in both directions over time and ratings ranging from Sector Perform to Outperform.
ENB
CA$71.85
Enbridge
7D
-4.3%
1Y
10.1%
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$88.64
TC Energy
7D
-3.6%
1Y
28.4%
FFH
CA$2,292.70
Fairfax Financial Holdings
7D
-4.8%
1Y
-1.9%
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.