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Canadian (TSX) Market Analysis & Valuation

UpdatedAug 19, 2026
DataAggregated Company Financials
Companies2200
  • 7D-0.4%
  • 3M4.8%
  • 1Y31.0%
  • YTD14.4%

The market has been flat in the last week, however the Information Technology sector is down 3.6%. Meanwhile, the market is actually up 31% 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
Wed, 19 Aug 2026CA$5.7tCA$2.3tCA$254.9b16.4x22.4x2.5x
Fri, 17 Jul 2026CA$5.6tCA$2.2tCA$243.4b16.2x22.8x2.5x
Sun, 14 Jun 2026CA$5.5tCA$2.2tCA$243.9b16x22.6x2.5x
Tue, 12 May 2026CA$5.4tCA$2.2tCA$244.1b16.8x22.1x2.4x
Thu, 09 Apr 2026CA$5.2tCA$2.2tCA$241.0b16.3x21.7x2.4x
Sat, 07 Mar 2026CA$5.3tCA$2.1tCA$239.5b16.8x22x2.5x
Mon, 02 Feb 2026CA$5.0tCA$2.1tCA$224.1b16.8x22.4x2.4x
Wed, 31 Dec 2025CA$5.0tCA$2.1tCA$224.3b16.4x22.1x2.3x
Fri, 28 Nov 2025CA$4.8tCA$2.1tCA$224.4b16.5x21.5x2.3x
Sun, 26 Oct 2025CA$4.7tCA$2.2tCA$215.4b16.8x21.9x2.2x
Tue, 23 Sep 2025CA$4.7tCA$2.1tCA$208.8b16.4x22.3x2.2x
Thu, 21 Aug 2025CA$4.4tCA$2.1tCA$201.9b15.8x21.7x2x
Sat, 19 Jul 2025CA$4.4tCA$2.1tCA$191.2b16.1x22.8x2x
Mon, 16 Jun 2025CA$4.3tCA$2.1tCA$191.5b15.4x22.3x2x
Wed, 14 May 2025CA$4.0tCA$2.1tCA$176.8b14.4x22.7x1.9x
Fri, 11 Apr 2025CA$3.8tCA$2.1tCA$173.3b14.1x21.8x1.8x
Sun, 09 Mar 2025CA$3.9tCA$2.1tCA$173.5b14.9x22.7x1.8x
Tue, 04 Feb 2025CA$3.9tCA$2.1tCA$170.9b14.4x23.1x1.8x
Thu, 02 Jan 2025CA$3.9tCA$2.1tCA$169.1b14.2x22.9x1.8x
Sat, 30 Nov 2024CA$4.0tCA$2.1tCA$166.3b14.9x23.9x1.9x
Mon, 28 Oct 2024CA$3.9tCA$2.1tCA$167.7b15.3x23.3x1.8x
Wed, 25 Sep 2024CA$3.8tCA$2.1tCA$167.5b15.3x22.7x1.8x
Fri, 23 Aug 2024CA$3.7tCA$2.1tCA$169.8b14.7x21.8x1.8x
Sun, 21 Jul 2024CA$3.6tCA$2.1tCA$167.7b14x21.7x1.8x
Tue, 18 Jun 2024CA$3.5tCA$2.1tCA$167.4b14.1x20.8x1.7x
Thu, 16 May 2024CA$3.6tCA$2.0tCA$167.9b14.2x21.5x1.8x
Sat, 13 Apr 2024CA$3.6tCA$2.1tCA$174.6b14.1x20.4x1.7x
Mon, 11 Mar 2024CA$3.5tCA$2.1tCA$173.3b13.7x20.1x1.7x
Wed, 07 Feb 2024CA$3.4tCA$2.1tCA$172.8b13.1x19.5x1.6x
Fri, 05 Jan 2024CA$3.4tCA$2.1tCA$173.1b13x19.5x1.6x
Sun, 03 Dec 2023CA$3.3tCA$2.1tCA$173.3b12.3x18.9x1.6x
Tue, 31 Oct 2023CA$3.1tCA$2.1tCA$184.5b11.6x16.6x1.5x
Thu, 28 Sep 2023CA$3.2tCA$2.1tCA$184.3b11.4x17.2x1.5x
Sat, 26 Aug 2023CA$3.2tCA$2.1tCA$184.8b11.5x17.4x1.5x
Price to Earnings Ratio

17.4x


Total Market Cap: CA$3.2tTotal Earnings: CA$184.8bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.5x202420252026
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 21.5x.
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 3.1% 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-0.38%
Energy2.63%
Real Estate-0.11%
Utilities-0.15%
Telecom-0.16%
Financials-0.36%
Consumer Discretionary-0.43%
Industrials-0.71%
Materials-1.86%
Healthcare-2.13%
Consumer Staples-2.57%
Tech-3.61%
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 24.7%, which is higher than its past year's earnings growth of 7.8% 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 growth rate of 2.1% per year.
  • In contrast, the Utilities sector is expected to see its earnings grow by 4.0% 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
SU Suncor EnergyCA$94.216.8%
+CA$7.0b		77.1%PE12.3xEnergy
CVE Cenovus EnergyCA$45.228.8%
+CA$6.7b		119.4%PE12.5xEnergy
CNQ Canadian Natural ResourcesCA$68.994.0%
+CA$5.5b		69.7%PE12.1xEnergy
RY Royal Bank of CanadaCA$296.261.1%
+CA$4.4b		56.7%PB3.2xFinancials
ABX Barrick MiningCA$58.454.7%
+CA$4.3b		75.7%PE10.6xMaterials
See more

Market Insights

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Investing in a theme primarily based on demand could come unstuck. As the European heatwave has shown, adoption can be far more complicated than whether a product is needed, which is exactly the part investors tend to skip.
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Latest News

BAM
CA$71.66
Brookfield Asset Management
7D
-7.0%
1Y
-13.9%
CVE
CA$45.22
Cenovus Energy
7D
8.8%
1Y
119.4%
CSU
CA$2,998.41
Constellation Software
7D
-6.9%
1Y
-30.8%
Narrative Update • Aug 17

CSU: Acquisition Execution Will Drive Future Returns Despite Organic And AI Questions

Analysts recently trimmed their blended Constellation Software price target by CA$242.94 to reflect a modestly lower fair value estimate, while still highlighting acquisition execution alongside ongoing questions around organic growth and AI disruption. Analyst Commentary Recent Street research on Constellation Software points to a generally constructive tone, even as analysts fine tune their numbers around organic growth, expense levels and potential AI disruption.
BN
CA$58.60
Brookfield
7D
-6.1%
1Y
-1.7%
PAAS
CA$64.78
Pan American Silver
7D
-10.3%
1Y
52.4%
RY
CA$296.26
Royal Bank of Canada
7D
1.1%
1Y
56.7%
FNV
CA$323.62
Franco-Nevada
7D
-3.4%
1Y
34.5%
SU
CA$94.21
Suncor Energy
7D
6.8%
1Y
77.1%
CM
CA$169.18
Canadian Imperial Bank of Commerce
7D
2.1%
1Y
66.9%
Narrative Update • Aug 13

CM: Future Returns Will Reflect Q2 Execution And Emerging AI Initiatives

Analysts have modestly raised the fair value estimate for Canadian Imperial Bank of Commerce to CA$159.73 from CA$155.18, reflecting a slightly higher assumed future P/E multiple and updated sector price targets that factor in expectations for a gradual return to more typical operating leverage and revenue growth across Canadian banks. Analyst Commentary Recent Street research on Canadian Imperial Bank of Commerce shows a mix of optimism and caution around the stock, with several firms adjusting price targets and ratings following recent earnings updates and sector reviews.
ABX
CA$58.45
Barrick Mining
7D
4.7%
1Y
75.7%
IFC
CA$263.40
Intact Financial
7D
-4.6%
1Y
-5.4%
TRI
CA$140.33
Thomson Reuters
7D
-3.9%
1Y
-43.1%
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...
CNQ
CA$68.99
Canadian Natural Resources
7D
4.0%
1Y
69.7%
CP
CA$130.16
Canadian Pacific Kansas City
7D
1.7%
1Y
25.4%
Narrative Update • Aug 08

CP: Record Grain Flows And New Alliances Will Support Balanced Outlook

Analysts have lifted their price target on Canadian Pacific Kansas City to about CA$140 from roughly CA$134, reflecting updated assumptions for slightly lower revenue growth, a modestly higher discount rate, a small improvement in profit margin, and a marginally lower future P/E multiple. What’s in the News for Canadian Pacific Kansas City Reported operating results for June 2026, with 2.8 million metric tonnes of Canadian grain and grain products moved in the month and more than 28.4 million metric tonnes moved through Week 48 of the 2025 to 2026 crop year.
IMO
CA$188.55
Imperial Oil
7D
4.5%
1Y
64.7%
Narrative Update • Aug 04

IMO: Future Cash Returns Will Reflect Mixed Oil Price And Buyback Expectations

Analysts now place Imperial Oil's fair value at CA$200.63. This shift is driven by mixed price target changes across the Street, with CA$159 at Scotiabank, CA$156 at TD Securities, and CA$138 at Morgan Stanley reflecting updated views on oil pricing and sector performance.
ATD
CA$89.93
Alimentation Couche-Tard
7D
-3.5%
1Y
27.9%
New Narrative • Aug 02

Can they absorb Zabka Group?

Couche-Tard sits inside the top tenth of the TGI watchlist on the primary rank and higher still on dividend growth, with a payout ratio near ten percent. It arrived there in the same three months it agreed to acquire Poland's Żabka Group for approximately US$8.6 billion, the largest acquisition in its history, funded entirely with debt, and the first network it has promised not to absorb.