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Canadian (TSX) Market Analysis & Valuation

UpdatedJul 17, 2026
DataAggregated Company Financials
Companies2194
  • 7D0.3%
  • 3M2.3%
  • 1Y28.8%
  • YTD11.5%

Over the last 7 days, the market has remained flat, although notably the Materials sector declined by 5.9%. As for the longer term, the market has risen 29% in the past 12 months. 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
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
Mon, 24 Jul 2023CA$3.3tCA$2.1tCA$200.2b11.7x16.6x1.6x
Price to Earnings Ratio

16.6x


Total Market Cap: CA$3.3tTotal Earnings: CA$200.2bTotal 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 6.7% 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 Market0.30%
Industrials2.61%
Financials2.55%
Consumer Staples1.92%
Consumer Discretionary1.74%
Telecom1.60%
Real Estate1.02%
Energy1.00%
Utilities-0.072%
Healthcare-2.25%
Tech-5.22%
Materials-5.88%
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 21.6%, which is higher than its past year's earnings growth of 6.7% 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 decline of 6.5% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 5.4% 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$303.162.5%
+CA$10.2b		65.9%PB3.3xFinancials
TD Toronto-Dominion BankCA$174.062.6%
+CA$7.2b		71.2%PB2.4xFinancials
BAM Brookfield Asset ManagementCA$69.606.5%
+CA$6.8b		-17.7%PE31.4xFinancials
TRI Thomson ReutersCA$138.7310.4%
+CA$5.7b		-52.5%PE28.1xIndustrials
CM Canadian Imperial Bank of CommerceCA$169.623.7%
+CA$5.6b		69.0%PB2.4xFinancials
See more

Market Insights

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Latest News

BAM
CA$69.60
Brookfield Asset Management
7D
6.5%
1Y
-17.7%
BB
CA$12.84
BlackBerry
7D
-20.9%
1Y
132.6%
TECK.B
CA$78.42
Teck Resources
7D
-6.6%
1Y
49.9%
WPM
CA$146.48
Wheaton Precious Metals
7D
-6.6%
1Y
19.7%
CLS
CA$426.96
Celestica
7D
-15.0%
1Y
90.8%
BNS
CA$125.91
Bank of Nova Scotia
7D
3.3%
1Y
66.4%
TD
CA$174.06
Toronto-Dominion Bank
7D
2.6%
1Y
71.2%
TRI
CA$138.73
Thomson Reuters
7D
10.4%
1Y
-52.5%
Narrative Update • Jul 16

TRI: Fair Value View Will Weigh AI Refocus And Print Stake Sale

Analysts have trimmed their fair value estimate for Thomson Reuters to CA$133.16 from CA$191.52, reflecting updated assumptions for the discount rate, revenue growth, profit margin and future P/E. What’s in the News for Thomson Reuters Thomson Reuters agreed to sell a 51% stake in its Global Print business to KKR for about US$500 million, forming a joint venture in which Thomson Reuters keeps a 49% interest, intellectual property rights, and full editorial control, while aiming to focus more on software and AI driven products (source: recent news reports).
CCO
CA$122.71
Cameco
7D
-9.6%
1Y
14.6%
K
CA$32.23
Kinross Gold
7D
-6.0%
1Y
52.1%
RY
CA$303.16
Royal Bank of Canada
7D
2.5%
1Y
65.9%
BMO
CA$256.44
Bank of Montreal
7D
2.3%
1Y
63.1%
ABX
CA$48.94
Barrick Mining
7D
-6.3%
1Y
71.2%
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.
FNV
CA$278.65
Franco-Nevada
7D
-5.5%
1Y
31.1%
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.
CM
CA$169.62
Canadian Imperial Bank of Commerce
7D
3.7%
1Y
69.0%
ENB
CA$79.36
Enbridge
7D
2.6%
1Y
28.9%