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Canadian (TSX) Market Analysis & Valuation

UpdatedJul 28, 2026
DataAggregated Company Financials
Companies2201
  • 7D1.6%
  • 3M5.1%
  • 1Y29.5%
  • YTD12.5%

Over the last 7 days, the market has risen 1.6%, driven by gains of 6.3% in the Materials sector. As for the past 12 months, the market is up 30%. 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
Tue, 28 Jul 2026CA$5.6tCA$2.3tCA$243.3b16.9x22.9x2.5x
Thu, 25 Jun 2026CA$5.5tCA$2.3tCA$245.8b15.6x22.4x2.4x
Sat, 23 May 2026CA$5.5tCA$2.2tCA$247.1b16.5x22.1x2.4x
Mon, 20 Apr 2026CA$5.4tCA$2.2tCA$240.8b17x22.4x2.5x
Wed, 18 Mar 2026CA$5.2tCA$2.1tCA$240.5b16.2x21.5x2.4x
Fri, 13 Feb 2026CA$5.2tCA$2.1tCA$227.4b17.3x23x2.5x
Sun, 11 Jan 2026CA$5.1tCA$2.1tCA$225.1b16.8x22.5x2.4x
Tue, 09 Dec 2025CA$4.9tCA$2.1tCA$225.4b16.1x21.5x2.3x
Thu, 06 Nov 2025CA$4.6tCA$2.1tCA$215.6b16.3x21.4x2.2x
Sat, 04 Oct 2025CA$4.7tCA$2.2tCA$209.3b16.7x22.5x2.2x
Mon, 01 Sep 2025CA$4.5tCA$2.1tCA$207.8b16x21.7x2.1x
Wed, 30 Jul 2025CA$4.4tCA$2.1tCA$191.4b16.4x22.8x2x
Fri, 27 Jun 2025CA$4.2tCA$2.1tCA$190.9b15.6x22.1x2x
Sun, 25 May 2025CA$4.1tCA$2.1tCA$193.6b14.7x21.4x2x
Tue, 22 Apr 2025CA$3.9tCA$2.1tCA$173.0b14.7x22.4x1.8x
Thu, 20 Mar 2025CA$3.9tCA$2.1tCA$172.6b15.1x22.8x1.8x
Sat, 15 Feb 2025CA$4.1tCA$2.1tCA$168.6b15x24.1x1.9x
Mon, 13 Jan 2025CA$3.9tCA$2.1tCA$171.3b14.5x22.5x1.8x
Wed, 11 Dec 2024CA$4.0tCA$2.1tCA$169.2b14.6x23.6x1.9x
Fri, 08 Nov 2024CA$3.9tCA$2.1tCA$168.5b14.9x23.2x1.8x
Sun, 06 Oct 2024CA$3.8tCA$2.1tCA$167.4b15.4x23x1.8x
Tue, 03 Sep 2024CA$3.7tCA$2.1tCA$167.6b15.4x22.3x1.8x
Thu, 01 Aug 2024CA$3.7tCA$2.1tCA$167.8b14.2x22.1x1.8x
Sat, 29 Jun 2024CA$3.5tCA$2.1tCA$166.5b14.2x21.2x1.7x
Mon, 27 May 2024CA$3.6tCA$2.0tCA$166.4b14.2x21.8x1.8x
Wed, 24 Apr 2024CA$3.5tCA$2.0tCA$174.5b13.9x20.3x1.7x
Fri, 22 Mar 2024CA$3.5tCA$2.0tCA$173.9b13.6x20.2x1.7x
Sun, 18 Feb 2024CA$3.4tCA$2.1tCA$177.4b13.5x19.2x1.6x
Tue, 16 Jan 2024CA$3.4tCA$2.1tCA$173.2b12.9x19.6x1.6x
Thu, 14 Dec 2023CA$3.2tCA$2.1tCA$172.3b12.3x18.8x1.6x
Sat, 11 Nov 2023CA$3.2tCA$2.1tCA$177.6b11.9x17.8x1.5x
Mon, 09 Oct 2023CA$3.1tCA$2.1tCA$185.2b11.2x16.9x1.5x
Wed, 06 Sep 2023CA$3.3tCA$2.1tCA$184.8b11.4x17.8x1.6x
Fri, 04 Aug 2023CA$3.3tCA$2.1tCA$182.3b12x17.9x1.6x
Price to Earnings Ratio

17.9x


Total Market Cap: CA$3.3tTotal Earnings: CA$182.3bTotal 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 2.3% 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 Market1.56%
Materials6.30%
Tech1.93%
Energy1.35%
Financials0.67%
Industrials0.57%
Utilities0.55%
Healthcare-0.091%
Consumer Discretionary-0.48%
Real Estate-0.55%
Consumer Staples-0.62%
Telecom-1.61%
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 21.7%, 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 40% over the next 5 years.
  • This is better than its past earnings decline of 6.5% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 2.3% 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
ABX Barrick MiningCA$52.777.5%
+CA$6.2b		79.6%PE10.2xMaterials
WPM Wheaton Precious MetalsCA$158.188.7%
+CA$5.8b		25.6%PE28.3xMaterials
FNV Franco-NevadaCA$302.727.6%
+CA$4.1b		37.3%PE30.3xMaterials
MFC Manulife FinancialCA$62.194.1%
+CA$4.1b		44.0%PE17.6xFinancials
TECK.B Teck ResourcesCA$84.3210.0%
+CA$3.8b		81.9%PE16.6xMaterials
See more

Market Insights

Header cover image
Healthcare just hit its lowest market weight since 1994. But dig deeper into the sector, and the collapse starts to look like a costume in some ways.
Continue reading
A brand’s strength doesn’t always last

Latest News

BBD.B
CA$373.41
Bombardier
7D
9.3%
1Y
130.8%
GIL
CA$71.61
Gildan Activewear
7D
-6.7%
1Y
-0.7%
TECK.B
CA$84.32
Teck Resources
7D
10.0%
1Y
81.9%
RCI.B
CA$46.35
Rogers Communications
7D
-5.4%
1Y
-0.6%
WSP
CA$172.37
WSP Global
7D
-3.3%
1Y
-40.0%
MFC
CA$62.19
Manulife Financial
7D
4.1%
1Y
44.0%
SU
CA$90.47
Suncor Energy
7D
3.3%
1Y
64.8%
Narrative Update • Jul 23

SU: Fair Outlook Balances Capital Returns With Commodity And Execution Risks

Analysts have lifted the fair value estimate for Suncor Energy to CA$90 from CA$72, reflecting updated sector pricing assumptions, a modestly higher discount rate, and revised expectations for revenue declines, profit margins, and future P/E multiples. Analyst Commentary Street research on Suncor Energy has been active, with several firms revisiting their price targets and ratings as they update sector assumptions and commodity price inputs.
TD
CA$168.87
Toronto-Dominion Bank
7D
-0.3%
1Y
65.9%
ABX
CA$52.77
Barrick Mining
7D
7.5%
1Y
79.6%
Narrative Update • Jul 22

ABX: Buyback And North American Spin Off Plan Will Drive Future Upside

Barrick Mining's analyst price target has been revised to CA$68 from CA$72. Analysts point to moderated revenue growth expectations, a slightly higher discount rate, and a lower future P/E assumption, partly offset by a small improvement in projected profit margins.
ATZ
CA$137.80
Aritzia
7D
-5.0%
1Y
84.2%
Narrative Update • Jul 21

ATZ: U.S. Expansion And Digital Execution Will Shape Balanced Future Returns

Aritzia’s analyst fair value estimate has been raised from CA$150.86 to CA$157.40, as analysts lift price targets across the Street, citing refreshed views reflected in higher targets from firms such as BMO Capital, RBC Capital, Stifel, TD Securities, Canaccord, and CIBC. Analyst Commentary Recent Street research on Aritzia shows a cluster of higher fair value estimates and refreshed targets, with several firms reiterating positive ratings while fine tuning their outlooks.
FNV
CA$302.72
Franco-Nevada
7D
7.6%
1Y
37.3%
Narrative Update • Jul 21

FNV: Cobre Panama Restart And Mixed Commodity Outlook Will Shape Outlook

Franco-Nevada's analyst price target has been trimmed to about CA$271 from roughly CA$280 as analysts factor in lower gold price assumptions, mixed near term sector conditions, and updated commodity forecasts, while still seeing relatively strong margins for many gold producers. Analyst Commentary Recent research on Franco-Nevada points to a more cautious tone, with several firms cutting price targets as they refresh gold and silver price assumptions and factor in tougher operating conditions for miners.
TIH
CA$210.63
Toromont Industries
7D
-7.7%
1Y
59.0%
Narrative Update • Jul 21

TIH: Power Systems Backlog And Capacity Plans Will Support Measured Repricing

Toromont Industries' updated analyst price target has shifted from CA$239.78 to about CA$246.33, reflecting modest model adjustments as analysts point to higher assumed revenue growth and recent target increases from several Canadian banks. Analyst Commentary Recent research updates on Toromont Industries show a cluster of higher price targets and one rating upgrade, giving you a clearer picture of how professionals currently frame the stock's valuation and execution risks.
WPM
CA$158.18
Wheaton Precious Metals
7D
8.7%
1Y
25.6%
CCO
CA$126.05
Cameco
7D
5.7%
1Y
16.0%
DOL
CA$187.73
Dollarama
7D
-1.2%
1Y
1.2%
ATD
CA$89.66
Alimentation Couche-Tard
7D
-0.9%
1Y
22.0%
Narrative Update • Jun 30

ATD: Record Q4 Execution And U.S. Momentum May Support Further Upside

The analyst price target for Alimentation Couche-Tard has been raised from about CA$93 to roughly CA$102. Analysts attribute the change to updated models around the recent fiscal Q4 report and continued supportive views from firms maintaining Outperform or equivalent ratings.