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Canadian (TSX) Market Analysis & Valuation

UpdatedSep 17, 2026
DataAggregated Company Financials
Companies2205
  • 7D-1.6%
  • 3M0.8%
  • 1Y21.9%
  • YTD12.0%

Over the last 7 days, the market has dropped 1.6%, driven by a decline of 6.4% in the Materials sector. In contrast to the last week, the market is actually up 22% over the past year. 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, 17 Sep 2026CA$5.5tCA$2.3tCA$256.8b16.5x21.5x2.4x
Sat, 15 Aug 2026CA$5.7tCA$2.3tCA$254.8b16.5x22.4x2.5x
Mon, 13 Jul 2026CA$5.5tCA$2.3tCA$245.6b16.5x22.5x2.5x
Wed, 10 Jun 2026CA$5.4tCA$2.2tCA$243.9b15.8x22.3x2.4x
Fri, 08 May 2026CA$5.3tCA$2.2tCA$243.2b16.4x21.9x2.4x
Sun, 05 Apr 2026CA$5.2tCA$2.2tCA$241.4b16.2x21.5x2.4x
Tue, 03 Mar 2026CA$5.4tCA$2.1tCA$238.8b17.6x22.6x2.5x
Thu, 29 Jan 2026CA$5.2tCA$2.1tCA$224.0b17.4x23.2x2.4x
Sat, 27 Dec 2025CA$5.0tCA$2.1tCA$224.3b16.5x22.1x2.3x
Mon, 24 Nov 2025CA$4.7tCA$2.1tCA$224.6b15.9x20.9x2.2x
Wed, 22 Oct 2025CA$4.7tCA$2.2tCA$209.5b16.2x22.6x2.2x
Fri, 19 Sep 2025CA$4.6tCA$2.1tCA$208.7b16.4x22x2.1x
Sun, 17 Aug 2025CA$4.4tCA$2.1tCA$201.7b15.8x21.8x2.1x
Tue, 15 Jul 2025CA$4.3tCA$2.1tCA$191.8b16.1x22.5x2x
Thu, 12 Jun 2025CA$4.3tCA$2.1tCA$191.8b15.4x22.2x2x
Sat, 10 May 2025CA$4.0tCA$2.1tCA$179.9b14.7x22.5x1.9x
Mon, 07 Apr 2025CA$3.7tCA$2.1tCA$173.9b14x21.4x1.8x
Wed, 05 Mar 2025CA$4.0tCA$2.1tCA$172.2b14.5x23x1.8x
Fri, 31 Jan 2025CA$3.9tCA$2.1tCA$172.0b14.8x22.9x1.8x
Sun, 29 Dec 2024CA$3.9tCA$2.1tCA$169.2b14.1x22.9x1.8x
Tue, 26 Nov 2024CA$4.0tCA$2.1tCA$166.4b14.5x23.8x1.9x
Thu, 24 Oct 2024CA$3.9tCA$2.1tCA$167.9b15.4x23.4x1.9x
Sat, 21 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.2x22.7x1.8x
Mon, 19 Aug 2024CA$3.7tCA$2.1tCA$170.0b14.7x21.7x1.8x
Wed, 17 Jul 2024CA$3.7tCA$2.0tCA$167.6b14x21.8x1.8x
Fri, 14 Jun 2024CA$3.5tCA$2.1tCA$167.4b14x20.9x1.7x
Sun, 12 May 2024CA$3.6tCA$2.1tCA$168.5b14x21.5x1.8x
Tue, 09 Apr 2024CA$3.6tCA$2.0tCA$174.2b14x20.5x1.7x
Thu, 07 Mar 2024CA$3.5tCA$2.1tCA$173.1b14.1x19.9x1.7x
Sat, 03 Feb 2024CA$3.4tCA$2.1tCA$170.5b13x19.9x1.6x
Mon, 01 Jan 2024CA$3.4tCA$2.1tCA$172.8b13.3x19.5x1.6x
Wed, 29 Nov 2023CA$3.2tCA$2.1tCA$178.6b11.8x18x1.5x
Fri, 27 Oct 2023CA$3.1tCA$2.1tCA$184.4b11.2x16.7x1.5x
Sun, 24 Sep 2023CA$3.2tCA$2.1tCA$184.3b11.7x17.4x1.5x
Price to Earnings Ratio

17.4x


Total Market Cap: CA$3.2tTotal Earnings: CA$184.3bTotal 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 3.7% 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-1.61%
Financials0.69%
Industrials0.26%
Consumer Staples0.20%
Tech0.17%
Consumer Discretionary-1.35%
Healthcare-1.48%
Telecom-1.53%
Energy-2.03%
Real Estate-2.34%
Utilities-2.47%
Materials-6.40%
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 26.9%, which is higher than its past year's earnings growth of 22.6% 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 5.1% 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
TD Toronto-Dominion BankCA$168.812.5%
+CA$6.8b		56.3%PB2.2xFinancials
TRI Thomson ReutersCA$141.645.7%
+CA$3.3b		-40.1%PE26.1xIndustrials
BNS Bank of Nova ScotiaCA$129.992.1%
+CA$3.3b		46.1%PB1.8xFinancials
MFC Manulife FinancialCA$61.223.2%
+CA$3.1b		43.3%PE16.3xFinancials
GWO Great-West LifecoCA$92.943.7%
+CA$3.0b		74.4%PE18.8xFinancials
See more

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Latest News

BAM
CA$63.19
Brookfield Asset Management
7D
-4.2%
1Y
-21.8%
TD
CA$168.81
Toronto-Dominion Bank
7D
2.5%
1Y
56.3%
BNS
CA$129.99
Bank of Nova Scotia
7D
2.1%
1Y
46.1%
ENB
CA$67.70
Enbridge
7D
-2.3%
1Y
0.1%
RY
CA$283.06
Royal Bank of Canada
7D
-0.9%
1Y
40.5%
SLF
CA$112.36
Sun Life Financial
7D
3.5%
1Y
38.2%
BMO
CA$241.64
Bank of Montreal
7D
1.4%
1Y
35.3%
TRI
CA$141.64
Thomson Reuters
7D
5.7%
1Y
-40.1%
MFC
CA$61.22
Manulife Financial
7D
3.2%
1Y
43.3%
FFH
CA$2,306.07
Fairfax Financial Holdings
7D
4.6%
1Y
-3.3%
Narrative Update • Sep 10

FFH: Softer Insurance Cycle Will Pressure Premiums Despite Recent Buybacks

Fairfax Financial Holdings' analyst price target has been reduced by CA$200 to CA$2,950, with analysts citing softer commercial insurance and reinsurance conditions and what they view as fairly valued shares at current levels. Analyst Commentary Recent research coverage on Fairfax Financial Holdings reflects a more cautious tone, with bearish analysts highlighting both softer insurance fundamentals and questions around current valuation.
WPM
CA$205.18
Wheaton Precious Metals
7D
-5.4%
1Y
41.8%
Narrative Update • Sep 09

WPM: Record Output And Expanded Portfolio Are Expected To Drive Upside

Analysts have lowered their average price target for Wheaton Precious Metals by about CA$5. This reflects updated commodity price assumptions, a slightly higher discount rate, more moderate revenue growth expectations, and a modestly higher long-term profit margin and P/E outlook.
GWO
CA$92.94
Great-West Lifeco
7D
3.7%
1Y
74.4%
Narrative Update • Sep 09

GWO: Higher P/E Expectations Will Restrain Future Returns Despite Earnings And Dividend Support

Great-West Lifeco's fair value estimate has been updated from CA$68.26 to CA$73.77 as analysts lift price targets across the board, citing refined assumptions on discount rates, revenue growth, profit margins and future P/E multiples. Analyst Commentary Recent Street research on Great-West Lifeco points to a cluster of higher price targets, with several firms revising their numbers into the C$87 to C$106 range.
TECK.B
CA$89.85
Teck Resources
7D
-7.6%
1Y
64.6%
CCO
CA$127.20
Cameco
7D
-8.4%
1Y
12.9%
LUN
CA$31.86
Lundin Mining
7D
-14.5%
1Y
95.0%
Narrative Update • Sep 03

LUN: Future Returns Will Reflect Caserones Recovery And Vicuña Project Progress

The updated analyst price target for Lundin Mining edges lower to CA$41.45 from CA$42.43, reflecting slightly more cautious revenue assumptions and a higher discount rate, partly offset by firm profit margin expectations and mixed Street targets that range from CA$39 to CA$47. Analyst Commentary Recent Street research on Lundin Mining shows a wide range of views on both upside potential and execution risk.
ABX
CA$59.47
Barrick Mining
7D
-3.4%
1Y
46.4%
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.