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Canadian (TSX) Market Analysis & Valuation

UpdatedJun 09, 2026
DataAggregated Company Financials
Companies2194
  • 7D-0.7%
  • 3M4.3%
  • 1Y30.5%
  • YTD9.7%

The Consumer Staples sector gained 4.6% while the market remained flat over the last week. More promisingly, the market is up 31% over the past year. 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, 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
Mon, 21 Aug 2023CA$3.2tCA$2.1tCA$185.8b11.5x17.3x1.5x
Wed, 19 Jul 2023CA$3.3tCA$2.1tCA$199.8b11.5x16.5x1.5x
Fri, 16 Jun 2023CA$3.2tCA$2.1tCA$200.3b11.1x16.1x1.5x
Price to Earnings Ratio

16.1x


Total Market Cap: CA$3.2tTotal Earnings: CA$200.3bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.1x202420252026
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 21.1x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 6.8% 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 Market-0.68%
Healthcare4.78%
Consumer Staples3.24%
Financials2.71%
Real Estate1.06%
Energy0.95%
Utilities0.60%
Consumer Discretionary-0.096%
Industrials-0.72%
Telecom-2.07%
Tech-4.64%
Materials-8.76%
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 22.3%, which is higher than its past year's earnings growth of 3.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 51% over the next 5 years.
  • This is better than its past earnings growth rate of 42% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 8.3% 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
RY Royal Bank of CanadaCA$272.634.4%
+CA$16.0b		56.1%PB2.9xFinancials
TD Toronto-Dominion BankCA$159.474.0%
+CA$10.1b		66.3%PB2.2xFinancials
CM Canadian Imperial Bank of CommerceCA$152.954.3%
+CA$5.7b		62.7%PB2.2xFinancials
BNS Bank of Nova ScotiaCA$113.013.7%
+CA$5.0b		52.7%PB1.6xFinancials
TRP TC EnergyCA$95.174.0%
+CA$3.8b		40.7%PE28.1xEnergy
See more

Market Insights

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Latest News

PAAS
CA$65.83
Pan American Silver
7D
-14.4%
1Y
64.6%
RY
CA$272.63
Royal Bank of Canada
7D
4.4%
1Y
56.1%
Narrative Update • Jun 07

RY: Future Returns Will Rely On Fee Income Strength And Disciplined AI Use

Analysts have lifted the Royal Bank of Canada fair value estimate from CA$250.25 to about CA$265.46. They point to a series of higher Street price targets clustered around CA$260 to CA$279 and cite fee income strength, a slightly lower discount rate, and a modestly higher profit margin assumption, even as expected revenue growth and future P/E are set at somewhat more restrained levels.
CCO
CA$146.91
Cameco
7D
-5.7%
1Y
60.4%
Narrative Update • Jun 07

CCO: Future Earnings Profile Will Reflect Uranium Contracting And Premium P E Multiple

Analysts have trimmed their CA$ fair value estimate for Cameco to about CA$178, a reduction of roughly CA$2. They cite updated assumptions around slightly higher revenue growth, a modestly stronger profit margin, and a lower future P/E multiple.
MFC
CA$54.25
Manulife Financial
7D
3.8%
1Y
22.5%
FFH
CA$2,252.77
Fairfax Financial Holdings
7D
6.7%
1Y
-0.5%
TRP
CA$95.17
TC Energy
7D
4.0%
1Y
40.7%
Narrative Update • Jun 06

TRP: Q1 Execution And Appalachia Expansion Will Shape Forward Risk Reward Balance

TC Energy's analyst price target has been adjusted higher, with CA$ fair value moving from about CA$91.30 to CA$93.61 as analysts factor in updated Q1 models, slightly lower discount rates, modestly higher revenue growth assumptions, and a slightly higher future P/E multiple across recent research. Analyst Commentary Recent Street research on TC Energy has leaned more supportive, with a series of higher price targets and a few upgrades clustered around the Q1 reporting period.
TD
CA$159.47
Toronto-Dominion Bank
7D
4.0%
1Y
66.3%
CLS
CA$538.27
Celestica
7D
-8.5%
1Y
220.7%
Narrative Update • Jun 06

CLS: AI Data Center Demand And 2026 Outlook Will Drive Upside Potential

Analysts have raised their price target for Celestica to CA$648.86 from CA$577.12. This change reflects updated assumptions around revenue growth, profit margins and future P/E multiples that collectively indicate a higher estimated fair value for the stock.
TRI
CA$116.12
Thomson Reuters
7D
-10.6%
1Y
-56.6%
K
CA$36.05
Kinross Gold
7D
-10.5%
1Y
74.5%
BAM
CA$64.16
Brookfield Asset Management
7D
-3.7%
1Y
-14.9%
ABX
CA$55.06
Barrick Mining
7D
-6.0%
1Y
98.1%
BNS
CA$113.01
Bank of Nova Scotia
7D
3.7%
1Y
52.7%
Narrative Update • Jun 03

BNS: Future P/E Discount Will Balance Dividend Momentum And Modest ROE Execution

Analysts lifted the Bank of Nova Scotia fair value estimate by about CA$5 to CA$112.07, citing a series of higher Street price targets in the CA$110 to CA$122 range, as well as updated assumptions on revenue growth, profit margins, and future P/E multiples following recent quarterly results. Analyst Commentary Recent Street research on Bank of Nova Scotia clusters around modestly higher price targets in the CA$110 to CA$122 range, with most firms maintaining mid-range ratings such as Hold, Neutral, Equal Weight, Sector Perform, or Outperform.
WPM
CA$160.15
Wheaton Precious Metals
7D
-10.1%
1Y
31.3%
Narrative Update • Jun 02

WPM: Robust Pipeline And Higher Dividend Will Support Future Upside Potential

Analysts have nudged their CA$ price targets for Wheaton Precious Metals slightly higher, reflecting updated models after recent quarterly results, modestly higher fair value estimates near CA$222, a small adjustment to discount rates, and refreshed assumptions for growth, margins, and future P/E multiples. Analyst Commentary Across recent research, price targets for Wheaton Precious Metals have been revised in both directions, with several increases clustered around quarterly updates and refreshed company guidance.
ATD
CA$81.61
Alimentation Couche-Tard
7D
4.6%
1Y
13.7%
Narrative Update • Jun 01

ATD: Share Buybacks And Bullish Coverage Are Expected To Support Upside

Narrative Update Overview The analyst price target for Alimentation Couche-Tard has been nudged higher by CA$0.13, as analysts factor in recent bullish initiations alongside a mix of modest target raises and trims, while keeping assumptions around discount rate, revenue growth, profit margins, and future P/E multiples broadly in line with prior views. Analyst Commentary Recent research updates on Alimentation Couche-Tard show a mix of fresh bullish initiations and some cautious target trims, which is why the overall price target shift is relatively modest.
CM
CA$152.95
Canadian Imperial Bank of Commerce
7D
4.3%
1Y
62.7%