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Canadian (TSX) Market Analysis & Valuation

UpdatedJul 10, 2026
DataAggregated Company Financials
Companies2191
  • 7D0.5%
  • 3M4.0%
  • 1Y28.5%
  • YTD11.2%

The Energy sector gained 4.1% while the market remained flat over the last week. More promisingly, the market is up 29% over the past year. Looking forward, 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
Fri, 10 Jul 2026CA$5.5tCA$2.3tCA$245.6b16.4x22.3x2.4x
Sun, 07 Jun 2026CA$5.4tCA$2.2tCA$243.9b15.9x22.3x2.4x
Tue, 05 May 2026CA$5.4tCA$2.2tCA$241.1b16.3x22.2x2.5x
Thu, 02 Apr 2026CA$5.2tCA$2.2tCA$240.6b16x21.4x2.4x
Sat, 28 Feb 2026CA$5.4tCA$2.1tCA$238.8b17.6x22.7x2.5x
Mon, 26 Jan 2026CA$5.2tCA$2.1tCA$224.5b17.5x23.2x2.4x
Wed, 24 Dec 2025CA$5.0tCA$2.1tCA$224.4b16.5x22.1x2.3x
Fri, 21 Nov 2025CA$4.7tCA$2.1tCA$224.6b15.9x21x2.2x
Sun, 19 Oct 2025CA$4.7tCA$2.2tCA$209.5b16.6x22.5x2.2x
Tue, 16 Sep 2025CA$4.6tCA$2.1tCA$208.6b16.3x22.1x2.1x
Thu, 14 Aug 2025CA$4.4tCA$2.1tCA$202.8b16x21.6x2.1x
Sat, 12 Jul 2025CA$4.3tCA$2.1tCA$191.6b16x22.4x2x
Mon, 09 Jun 2025CA$4.3tCA$2.1tCA$191.9b15.4x22.2x2x
Wed, 07 May 2025CA$4.0tCA$2.1tCA$175.3b14.7x22.7x1.9x
Fri, 04 Apr 2025CA$4.0tCA$2.1tCA$173.6b14.7x23.2x1.9x
Sun, 02 Mar 2025CA$4.0tCA$2.1tCA$172.7b15x23.3x1.9x
Tue, 28 Jan 2025CA$4.0tCA$2.1tCA$171.2b15x23.1x1.9x
Thu, 26 Dec 2024CA$3.9tCA$2.1tCA$169.2b14x22.9x1.8x
Sat, 23 Nov 2024CA$4.0tCA$2.1tCA$167.0b14.4x23.7x1.9x
Mon, 21 Oct 2024CA$4.0tCA$2.1tCA$168.1b15.6x23.5x1.9x
Wed, 18 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.2x22.6x1.8x
Fri, 16 Aug 2024CA$3.6tCA$2.1tCA$170.2b14.8x21.4x1.7x
Sun, 14 Jul 2024CA$3.6tCA$2.0tCA$166.7b14x21.9x1.8x
Tue, 11 Jun 2024CA$3.5tCA$2.1tCA$167.4b14.3x21x1.7x
Thu, 09 May 2024CA$3.6tCA$2.1tCA$172.5b14x20.8x1.7x
Sat, 06 Apr 2024CA$3.5tCA$2.0tCA$174.3b14.1x20.4x1.7x
Mon, 04 Mar 2024CA$3.5tCA$2.1tCA$176.7b13.7x19.5x1.7x
Wed, 31 Jan 2024CA$3.4tCA$2.1tCA$174.0b12.9x19.6x1.6x
Fri, 29 Dec 2023CA$3.4tCA$2.1tCA$172.7b13.3x19.6x1.6x
Sun, 26 Nov 2023CA$3.2tCA$2.1tCA$179.1b11.8x18x1.5x
Tue, 24 Oct 2023CA$3.1tCA$2.1tCA$185.2b11x16.7x1.5x
Thu, 21 Sep 2023CA$3.3tCA$2.1tCA$184.4b12x17.8x1.6x
Sat, 19 Aug 2023CA$3.2tCA$2.1tCA$185.8b11.5x17.3x1.5x
Mon, 17 Jul 2023CA$3.3tCA$2.1tCA$199.9b11.4x16.3x1.5x
Price to Earnings Ratio

16.3x


Total Market Cap: CA$3.3tTotal Earnings: CA$199.9bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.3x202420252026
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 21.3x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 7.1% 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 Market0.53%
Energy3.29%
Telecom2.01%
Industrials1.56%
Financials0.92%
Tech0.58%
Consumer Staples0.17%
Utilities0.041%
Real Estate-0.64%
Consumer Discretionary-0.65%
Healthcare-1.13%
Materials-3.09%
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 22.2%, which is higher than its past year's earnings growth of 4.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 43% 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 7.9% 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
RY Royal Bank of CanadaCA$295.841.9%
+CA$7.5b		62.3%PB3.2xFinancials
CNQ Canadian Natural ResourcesCA$59.405.7%
+CA$6.6b		36.7%PE12.7xEnergy
SU Suncor EnergyCA$82.976.4%
+CA$5.9b		54.1%PE15.5xEnergy
IMO Imperial OilCA$170.325.6%
+CA$4.4b		54.1%PE28.2xEnergy
CVE Cenovus EnergyCA$36.855.4%
+CA$3.5b		87.6%PE14.9xEnergy
See more

Market Insights

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Latest News

PAAS
CA$62.54
Pan American Silver
7D
-4.8%
1Y
56.1%
BMO
CA$250.61
Bank of Montreal
7D
1.5%
1Y
60.0%
RY
CA$295.84
Royal Bank of Canada
7D
1.9%
1Y
62.3%
CP
CA$128.01
Canadian Pacific Kansas City
7D
2.7%
1Y
13.6%
ABX
CA$52.22
Barrick Mining
7D
-3.7%
1Y
81.5%
Narrative Update • Jul 08

ABX: Rich Multiple And Execution Risks Will Pressure Future Share Returns

The analyst price target for Barrick Mining has shifted from CA$33.69 to CA$32.46 as analysts update their assumptions around fair value, discount rates, revenue growth, profit margins and future P/E expectations. Analyst Commentary With the recent adjustment in the analyst price target for Barrick Mining to CA$32.46, recent commentary has focused on how valuation assumptions, execution risks and growth expectations line up with this updated view of fair value.
IMO
CA$170.32
Imperial Oil
7D
5.6%
1Y
54.1%
Narrative Update • Jul 08

IMO: Future Returns Will Hinge On Buybacks And Oil Price Sensitivity

Imperial Oil's analyst price target has been revised higher from CA$132.81 to CA$153.19, as analysts factor in updated oil price assumptions, modestly revised growth and margin expectations, and recent sector level targets in the CA$138 to CA$156 range. Analyst Commentary Recent Street research on Imperial Oil highlights a mix of optimism around upside potential and caution around execution and commodity risk, which helps explain the current cluster of price targets in the CA$138 to CA$156 range.
FNV
CA$295.01
Franco-Nevada
7D
-4.4%
1Y
35.8%
Narrative Update • Jul 07

FNV: Record Quarter And Cobre Panama Restart Expectations Will Shape Outlook

Franco-Nevada's analyst price target has been revised to CA$280 from CA$266. Analysts cited mixed commodity price pressures, updated Q1 modeling, and expectations around the Cobre Panama restart as key drivers behind the change.
AGI
CA$42.30
Alamos Gold
7D
-5.6%
1Y
18.6%
Narrative Update • Jul 07

AGI: Island Gold District Expansion Will Offset Young-Davidson Seismic Disruptions

Alamos Gold's analyst price target has been trimmed by about CA$3, as analysts factor in lower forecast fair value along with pressures from weaker gold prices, higher diesel costs, revised production guidance and recent seismic related disruptions at Young-Davidson. Analyst Commentary Recent research on Alamos Gold points to a more cautious stance on valuation, with analysts trimming price targets as they factor in weaker gold prices, higher diesel costs and operational updates at key assets like Young-Davidson and La Yaqui Grande.
CLS
CA$502.54
Celestica
7D
5.3%
1Y
131.6%
EDV
CA$69.68
Endeavour Mining
7D
-6.3%
1Y
68.1%
Narrative Update • Jul 07

EDV: Assafou Project Economics And Buybacks Will Support Future Upside

Analysts have adjusted their fair value estimate for Endeavour Mining to CA$122 from CA$88, reflecting updated assumptions on revenue growth, margins, and a lower future P/E benchmark, along with recent Street price target revisions that have generally trended lower on weaker gold prices and higher input costs. Analyst Commentary Recent Street research on Endeavour Mining presents a mixed picture, but there are clear pockets of confidence where analysts see the stock as supported by its fundamentals and execution, even as sector headwinds such as weaker gold prices and higher diesel costs weigh on sentiment.
CNQ
CA$59.40
Canadian Natural Resources
7D
5.7%
1Y
36.7%
Narrative Update • Jul 06

CNQ: Future Oilsands Expansion And Pipeline Timing Will Shape Balanced Outlook

Analysts have lifted their fair value estimate for Canadian Natural Resources from CA$43.00 to about CA$57.47, citing updated price targets from firms covering the stock and revised assumptions for revenue trends, margins and future P/E expectations. Analyst Commentary Recent Street research on Canadian Natural Resources reflects a mix of optimism on the company and pockets of caution around execution risks, future growth assumptions and how current trading levels line up with updated fair value views.
BN
CA$61.02
Brookfield
7D
-0.9%
1Y
4.8%
ELD
CA$43.36
Eldorado Gold
7D
-9.1%
1Y
59.1%
Narrative Update • Jul 06

ELD: Buybacks And Saskatchewan Projects Will Offset Softer Near Term Production

Analysts have slightly lifted their CA$ fair value estimate for Eldorado Gold, with the price target moving from CA$43.02 to CA$44.41 as they factor in updated assumptions around revenue growth, profit margins, discount rate, and future P/E expectations. What’s in the News for Eldorado Gold Emperor Metals completed updates to the Lac Pelletier Remediation and Closure Plan in collaboration with Eldorado Gold, with the revised plan submitted to regulators for approval, source: Emperor Advances Lac Pelletier Toward Production with Submission of Updated Remediation Plan.
WPM
CA$156.83
Wheaton Precious Metals
7D
-4.3%
1Y
27.7%
Narrative Update • Jul 01

WPM: Long Term Production Guidance And Streaming Pipeline Will Support Future Upside

Analysts have modestly adjusted the fair value estimate for Wheaton Precious Metals to CA$227.90 from CA$221.95, reflecting updated models after recent quarterly results and a mix of higher and lower Street price targets. Analyst Commentary Recent Street research on Wheaton Precious Metals shows a mixed backdrop, with some analysts fine tuning their models after earnings and others marking down fair value estimates.
CVE
CA$36.85
Cenovus Energy
7D
5.4%
1Y
87.6%
SU
CA$82.97
Suncor Energy
7D
6.4%
1Y
54.1%
Narrative Update • Jun 25

SU: Buybacks And Operational Momentum Will Drive Future Cash Return Expectations

The analyst price target for Suncor Energy has been adjusted slightly higher to CA$100.26 from CA$99.16, reflecting analysts' view that recent price target increases across several firms and a generally constructive stance on the company's operational progress are now more fully captured in the valuation. Analyst Commentary Recent research on Suncor Energy shows a mix of optimism and caution as analysts react to the company’s operational progress and current share valuation.