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Canadian (TSX) Market Analysis & Valuation

UpdatedJul 31, 2026
DataAggregated Company Financials
Companies2196
  • 7D0.7%
  • 3M4.3%
  • 1Y29.2%
  • YTD12.2%

Over the last 7 days, the market has remained flat, although notably the Information Technology sector gained 10% in that time. More promisingly, the market is up 29% over the past year. As for the next few years, earnings are expected to grow by 10% 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, 31 Jul 2026CA$5.5tCA$2.3tCA$244.4b16.6x22.6x2.4x
Sun, 28 Jun 2026CA$5.5tCA$2.3tCA$245.7b15.7x22.3x2.4x
Tue, 26 May 2026CA$5.5tCA$2.2tCA$247.1b16.6x22.1x2.5x
Thu, 23 Apr 2026CA$5.3tCA$2.2tCA$240.8b16.8x22.1x2.4x
Sat, 21 Mar 2026CA$5.0tCA$2.1tCA$238.9b15.6x20.9x2.3x
Mon, 16 Feb 2026CA$5.2tCA$2.1tCA$228.5b17.4x22.9x2.4x
Wed, 14 Jan 2026CA$5.1tCA$2.1tCA$225.0b16.9x22.7x2.4x
Fri, 12 Dec 2025CA$4.9tCA$2.1tCA$224.8b16.1x21.7x2.3x
Sun, 09 Nov 2025CA$4.7tCA$2.1tCA$220.4b16.3x21.1x2.2x
Tue, 07 Oct 2025CA$4.8tCA$2.2tCA$209.3b16.7x22.7x2.2x
Thu, 04 Sep 2025CA$4.5tCA$2.1tCA$208.5b16.2x21.6x2.1x
Sat, 02 Aug 2025CA$4.3tCA$2.1tCA$194.6b15.8x22.2x2x
Mon, 30 Jun 2025CA$4.2tCA$2.1tCA$191.7b15.7x22.1x2x
Wed, 28 May 2025CA$4.2tCA$2.1tCA$191.7b14.7x21.7x2x
Fri, 25 Apr 2025CA$3.9tCA$2.1tCA$173.1b15.1x22.6x1.9x
Sun, 23 Mar 2025CA$4.0tCA$2.1tCA$173.4b14.9x22.9x1.9x
Tue, 18 Feb 2025CA$4.0tCA$2.1tCA$168.6b15x23.9x1.9x
Thu, 16 Jan 2025CA$3.8tCA$2.1tCA$170.9b14.5x22.4x1.8x
Sat, 14 Dec 2024CA$4.0tCA$2.1tCA$169.3b14.4x23.4x1.9x
Mon, 11 Nov 2024CA$3.9tCA$2.1tCA$167.7b14.8x23.4x1.8x
Wed, 09 Oct 2024CA$3.8tCA$2.1tCA$167.8b15.3x22.9x1.8x
Fri, 06 Sep 2024CA$3.7tCA$2.1tCA$167.6b15x22x1.8x
Sun, 04 Aug 2024CA$3.6tCA$2.1tCA$167.2b13.8x21.4x1.7x
Tue, 02 Jul 2024CA$3.5tCA$2.1tCA$166.6b14x21.2x1.7x
Thu, 30 May 2024CA$3.6tCA$2.1tCA$165.9b14.2x21.8x1.8x
Sat, 27 Apr 2024CA$3.5tCA$2.1tCA$173.1b13.9x20.4x1.7x
Mon, 25 Mar 2024CA$3.5tCA$2.0tCA$173.5b13.6x20.2x1.7x
Wed, 21 Feb 2024CA$3.4tCA$2.1tCA$177.5b13x19.2x1.6x
Fri, 19 Jan 2024CA$3.3tCA$2.1tCA$173.3b12.7x19.3x1.6x
Sun, 17 Dec 2023CA$3.3tCA$2.1tCA$172.9b12.4x19.3x1.6x
Tue, 14 Nov 2023CA$3.2tCA$2.1tCA$179.0b11.9x17.7x1.5x
Thu, 12 Oct 2023CA$3.2tCA$2.1tCA$185.1b11.6x17.2x1.5x
Sat, 09 Sep 2023CA$3.3tCA$2.1tCA$184.9b11.7x17.6x1.5x
Mon, 07 Aug 2023CA$3.3tCA$2.1tCA$186.2b11.7x17.6x1.6x
Price to Earnings Ratio

17.6x


Total Market Cap: CA$3.3tTotal Earnings: CA$186.2bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.4x202420252026
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 21.4x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 9.5% per year over the last three years.
  • Revenues for these companies have grown 2.6% 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 Market0.69%
Tech10.43%
Consumer Discretionary4.21%
Telecom3.47%
Consumer Staples2.31%
Real Estate1.46%
Financials0.87%
Materials0.75%
Healthcare0.21%
Industrials-0.98%
Energy-1.35%
Utilities-2.18%
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 23.1%, 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 40% over the next 5 years.
  • This is better than its past earnings growth rate of 1.3% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 2.8% 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
CSU Constellation SoftwareCA$3.02k17.7%
+CA$9.6b		-36.8%PE61.5xTech
TRI Thomson ReutersCA$138.4114.7%
+CA$7.7b		-51.0%PE28.2xIndustrials
BAM Brookfield Asset ManagementCA$67.194.3%
+CA$4.4b		-21.4%PE30.4xFinancials
MFC Manulife FinancialCA$62.402.8%
+CA$2.9b		45.6%PE17.6xFinancials
DOL DollaramaCA$191.435.5%
+CA$2.6b		1.1%PE38.6xConsumer Discretionary
See more

Market Insights

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Latest News

GIB.A
CA$102.67
CGI
7D
14.3%
1Y
-23.1%
IFC
CA$277.95
Intact Financial
7D
-3.7%
1Y
-3.0%
TRP
CA$95.31
TC Energy
7D
-3.2%
1Y
44.1%
CP
CA$123.31
Canadian Pacific Kansas City
7D
-5.2%
1Y
21.0%
MFC
CA$62.40
Manulife Financial
7D
2.8%
1Y
45.6%
Narrative Update • Jul 30

MFC: AI Execution And Capital Returns Will Shape Measured Medium Term Outlook

Manulife Financial's analyst price target has moved higher, with the fair value estimate rising from CA$57.25 to CA$60.07, supported by recent Street research that reflects updated views on revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent Street commentary on Manulife Financial points to a mixed but generally constructive view on the stock's valuation and execution.
CNR
CA$178.08
Canadian National Railway
7D
-3.2%
1Y
37.6%
CSU
CA$3,020.02
Constellation Software
7D
17.7%
1Y
-36.8%
TRI
CA$138.41
Thomson Reuters
7D
14.7%
1Y
-51.0%
FTT
CA$93.61
Finning International
7D
-12.1%
1Y
55.0%
CLS
CA$493.32
Celestica
7D
4.8%
1Y
78.1%
Narrative Update • Jul 28

CLS: AI Demand And Raised 2026 Outlook Will Support Further Upside

Analysts have lifted their fair value estimate for Celestica, moving the implied price target from CA$648.86 to CA$677.38. They attribute this change to updated assumptions for the discount rate, revenue growth, profit margin and future P/E.
TFII
CA$188.25
TFI International
7D
-12.2%
1Y
56.2%
ENB
CA$77.68
Enbridge
7D
-2.2%
1Y
23.8%
BBD.B
CA$330.01
Bombardier
7D
-8.8%
1Y
104.3%
Narrative Update • Jul 28

BBD.B: Elevated P/E Will Rely On Defense Deals And Jet Demand Delivery

Analysts have nudged their fair value estimate for Bombardier higher from CA$240.90 to CA$253.68, citing updated price targets across several firms and slightly revised assumptions on the discount rate, revenue growth, profit margin and future P/E multiples. Analyst Commentary Recent research on Bombardier points to a cluster of higher price targets, with several firms revising their views over the past few months.
BAM
CA$67.19
Brookfield Asset Management
7D
4.3%
1Y
-21.4%
DOL
CA$191.43
Dollarama
7D
5.5%
1Y
1.1%
L
CA$65.70
Loblaw Companies
7D
3.6%
1Y
17.3%