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Canadian (TSX) Market Analysis & Valuation

UpdatedSep 16, 2026
DataAggregated Company Financials
Companies2203
  • 7D-1.7%
  • 3M0.5%
  • 1Y21.8%
  • YTD12.0%

Over the last 7 days, the market has dropped 1.7%, driven by a decline of 5.0% in the Materials sector. In the last year, the market is actually up 22%. 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
Wed, 16 Sep 2026CA$5.5tCA$2.3tCA$256.4b16.5x21.6x2.4x
Fri, 14 Aug 2026CA$5.7tCA$2.3tCA$254.6b16.4x22.4x2.5x
Sun, 12 Jul 2026CA$5.5tCA$2.3tCA$245.5b16.5x22.5x2.5x
Tue, 09 Jun 2026CA$5.4tCA$2.2tCA$243.9b16.2x22.3x2.4x
Thu, 07 May 2026CA$5.3tCA$2.2tCA$243.2b16.4x21.9x2.4x
Sat, 04 Apr 2026CA$5.2tCA$2.2tCA$241.3b16.1x21.6x2.4x
Mon, 02 Mar 2026CA$5.4tCA$2.1tCA$238.8b17.6x22.6x2.5x
Wed, 28 Jan 2026CA$5.2tCA$2.1tCA$224.1b17.6x23.2x2.4x
Fri, 26 Dec 2025CA$5.0tCA$2.1tCA$224.3b16.5x22.1x2.3x
Sun, 23 Nov 2025CA$4.7tCA$2.1tCA$224.5b15.9x20.8x2.2x
Tue, 21 Oct 2025CA$4.7tCA$2.2tCA$209.5b16.5x22.6x2.2x
Thu, 18 Sep 2025CA$4.6tCA$2.1tCA$208.6b16.4x22.1x2.1x
Sat, 16 Aug 2025CA$4.4tCA$2.1tCA$201.6b15.7x21.7x2.1x
Mon, 14 Jul 2025CA$4.3tCA$2.1tCA$191.7b16.1x22.5x2x
Wed, 11 Jun 2025CA$4.2tCA$2.1tCA$191.8b15.5x22.1x2x
Fri, 09 May 2025CA$4.0tCA$2.1tCA$176.1b14.8x22.8x1.9x
Sun, 06 Apr 2025CA$3.7tCA$2.1tCA$173.9b14x21.4x1.8x
Tue, 04 Mar 2025CA$4.0tCA$2.1tCA$172.5b14.7x23.3x1.9x
Thu, 30 Jan 2025CA$3.9tCA$2.1tCA$171.4b14.8x22.9x1.8x
Sat, 28 Dec 2024CA$3.9tCA$2.1tCA$169.2b14.1x22.9x1.8x
Mon, 25 Nov 2024CA$4.0tCA$2.1tCA$166.9b14.5x23.8x1.9x
Wed, 23 Oct 2024CA$3.9tCA$2.1tCA$168.1b15.4x23.4x1.9x
Fri, 20 Sep 2024CA$3.8tCA$2.1tCA$167.4b15.1x22.5x1.8x
Sun, 18 Aug 2024CA$3.7tCA$2.1tCA$170.0b14.6x21.7x1.8x
Tue, 16 Jul 2024CA$3.6tCA$2.1tCA$167.1b14x21.8x1.8x
Thu, 13 Jun 2024CA$3.5tCA$2.1tCA$167.3b14.2x21.1x1.7x
Sat, 11 May 2024CA$3.6tCA$2.1tCA$168.0b14.2x21.6x1.8x
Mon, 08 Apr 2024CA$3.6tCA$2.0tCA$174.3b14.1x20.5x1.7x
Wed, 06 Mar 2024CA$3.4tCA$2.1tCA$174.6b14x19.8x1.7x
Fri, 02 Feb 2024CA$3.4tCA$2.1tCA$173.0b13.3x19.7x1.6x
Sun, 31 Dec 2023CA$3.4tCA$2.1tCA$172.8b13.3x19.5x1.6x
Tue, 28 Nov 2023CA$3.2tCA$2.1tCA$179.0b11.7x18x1.6x
Thu, 26 Oct 2023CA$3.1tCA$2.1tCA$184.5b11.1x16.7x1.5x
Sat, 23 Sep 2023CA$3.2tCA$2.1tCA$184.4b11.7x17.4x1.5x
Price to Earnings Ratio

17.4x


Total Market Cap: CA$3.2tTotal Earnings: CA$184.4bTotal 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 3.6% 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-1.71%
Energy0.14%
Industrials-0.37%
Financials-0.60%
Tech-1.00%
Consumer Staples-1.16%
Healthcare-1.86%
Real Estate-2.34%
Telecom-2.44%
Consumer Discretionary-3.62%
Utilities-4.97%
Materials-5.03%
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 24.9%, 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 5.0% 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$99.996.7%
+CA$7.3b		69.0%PE13.1xEnergy
TD Toronto-Dominion BankCA$168.991.7%
+CA$4.6b		57.8%PB2.2xFinancials
IMO Imperial OilCA$188.244.1%
+CA$3.6b		43.8%PE21.9xEnergy
CNQ Canadian Natural ResourcesCA$71.702.2%
+CA$3.2b		58.3%PE12.6xEnergy
TRI Thomson ReutersCA$142.874.9%
+CA$2.9b		-39.7%PE26.5xIndustrials
See more

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BN
CA$51.66
Brookfield
7D
-4.7%
1Y
-19.2%
BNS
CA$129.88
Bank of Nova Scotia
7D
1.5%
1Y
45.7%
ENB
CA$67.40
Enbridge
7D
-3.3%
1Y
0.2%
BAM
CA$63.79
Brookfield Asset Management
7D
-5.4%
1Y
-20.7%
RY
CA$284.21
Royal Bank of Canada
7D
-1.4%
1Y
41.4%
TD
CA$168.99
Toronto-Dominion Bank
7D
1.7%
1Y
57.8%
TRI
CA$142.87
Thomson Reuters
7D
4.9%
1Y
-39.7%
MFC
CA$61.14
Manulife Financial
7D
2.2%
1Y
41.3%
IMO
CA$188.24
Imperial Oil
7D
4.1%
1Y
43.8%
TECK.B
CA$89.99
Teck Resources
7D
-9.3%
1Y
62.7%
CVE
CA$47.23
Cenovus Energy
7D
3.1%
1Y
95.4%
CCO
CA$126.99
Cameco
7D
-9.8%
1Y
15.1%
CNQ
CA$71.70
Canadian Natural Resources
7D
2.2%
1Y
58.3%
LUN
CA$32.15
Lundin Mining
7D
-14.2%
1Y
91.4%
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.
SU
CA$99.99
Suncor Energy
7D
6.7%
1Y
69.0%
FM
CA$41.97
First Quantum Minerals
7D
-8.6%
1Y
55.6%
Narrative Update • Aug 26

FM: Cobre Panama Restart And Taca Taca Partnership Talks Will Drive Future Re Rating

The analyst price target for First Quantum Minerals has been adjusted slightly lower, with a modest fair value change that is consistent with recent Street revisions. These reflect mixed price target moves around CA$41 to CA$55, updated revenue growth and profit margin assumptions, and a higher future P/E estimate.