Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Market Analysis & Valuation

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies2205
  • 7D-0.4%
  • 3M8.9%
  • 1Y30.4%
  • YTD10.5%

The Consumer Staples sector gained 5.1% while the market remained flat over the last week. More promisingly, the market is up 29% 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
Sat, 27 Jun 2026CA$5.5tCA$2.3tCA$245.7b15.7x22.2x2.4x
Mon, 25 May 2026CA$5.5tCA$2.2tCA$247.2b16.5x22.1x2.5x
Wed, 22 Apr 2026CA$5.4tCA$2.2tCA$240.7b16.7x22.4x2.5x
Fri, 20 Mar 2026CA$5.1tCA$2.1tCA$239.3b15.9x21.2x2.4x
Sun, 15 Feb 2026CA$5.2tCA$2.1tCA$228.5b17.5x22.9x2.4x
Tue, 13 Jan 2026CA$5.1tCA$2.1tCA$224.9b16.9x22.7x2.4x
Thu, 11 Dec 2025CA$4.9tCA$2.1tCA$225.2b16x21.5x2.3x
Sat, 08 Nov 2025CA$4.6tCA$2.1tCA$221.4b16.3x20.9x2.2x
Mon, 06 Oct 2025CA$4.8tCA$2.2tCA$209.3b16.7x22.7x2.2x
Wed, 03 Sep 2025CA$4.5tCA$2.1tCA$208.4b16.2x21.6x2.1x
Fri, 01 Aug 2025CA$4.3tCA$2.1tCA$192.8b16.1x22.5x2x
Sun, 29 Jun 2025CA$4.2tCA$2.1tCA$191.7b15.7x22.1x2x
Tue, 27 May 2025CA$4.1tCA$2.1tCA$191.5b14.9x21.6x2x
Thu, 24 Apr 2025CA$3.9tCA$2.1tCA$173.4b14.6x22.4x1.9x
Sat, 22 Mar 2025CA$4.0tCA$2.1tCA$173.4b14.9x22.9x1.9x
Mon, 17 Feb 2025CA$4.0tCA$2.1tCA$168.6b15x23.9x1.9x
Wed, 15 Jan 2025CA$3.8tCA$2.1tCA$171.2b14.2x22.4x1.8x
Fri, 13 Dec 2024CA$4.0tCA$2.1tCA$169.2b14.8x23.5x1.9x
Sun, 10 Nov 2024CA$3.9tCA$2.1tCA$167.8b14.8x23.4x1.8x
Tue, 08 Oct 2024CA$3.9tCA$2.1tCA$167.7b15.4x23x1.8x
Thu, 05 Sep 2024CA$3.7tCA$2.1tCA$167.6b15.1x22x1.8x
Sat, 03 Aug 2024CA$3.7tCA$2.1tCA$167.7b13.8x21.8x1.8x
Mon, 01 Jul 2024CA$3.5tCA$2.1tCA$166.5b14.1x21.2x1.7x
Wed, 29 May 2024CA$3.6tCA$2.0tCA$165.8b14.2x21.9x1.8x
Fri, 26 Apr 2024CA$3.5tCA$2.1tCA$173.1b13.9x20.3x1.7x
Sun, 24 Mar 2024CA$3.5tCA$2.0tCA$173.6b13.6x20.2x1.7x
Tue, 20 Feb 2024CA$3.4tCA$2.1tCA$177.5b13.4x19.2x1.6x
Thu, 18 Jan 2024CA$3.3tCA$2.1tCA$173.4b12.7x19.2x1.6x
Sat, 16 Dec 2023CA$3.3tCA$2.1tCA$172.9b12.4x19.3x1.6x
Mon, 13 Nov 2023CA$3.2tCA$2.1tCA$177.6b11.8x17.8x1.5x
Wed, 11 Oct 2023CA$3.2tCA$2.1tCA$185.0b11.5x17.1x1.5x
Fri, 08 Sep 2023CA$3.3tCA$2.1tCA$184.8b11.3x17.6x1.5x
Sun, 06 Aug 2023CA$3.3tCA$2.1tCA$185.4b11.8x17.7x1.6x
Tue, 04 Jul 2023CA$3.2tCA$2.1tCA$200.2b11x16.2x1.5x
Price to Earnings Ratio

16.2x


Total Market Cap: CA$3.2tTotal Earnings: CA$200.2bTotal Revenue: CA$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Market Price to Earnings3Y Average 21.2x202420252026
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 21.2x.
Past Earnings Growth
  • The earnings for Canadian listed companies have grown 7.1% 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-0.37%
Consumer Staples5.70%
Utilities3.06%
Industrials2.63%
Consumer Discretionary1.77%
Real Estate1.46%
Healthcare1.41%
Financials0.21%
Energy-0.62%
Tech-2.31%
Telecom-3.07%
Materials-5.02%
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 22.8%, which is higher than its past year's earnings growth of 5.7% 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 decline of 5.4% 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
ATD Alimentation Couche-TardCA$93.4313.4%
+CA$10.2b		38.1%PE19.2xConsumer Staples
CNR Canadian National RailwayCA$171.007.1%
+CA$6.8b		20.7%PE22.1xIndustrials
RY Royal Bank of CanadaCA$288.011.4%
+CA$5.5b		62.1%PB3.1xFinancials
ENB EnbridgeCA$79.793.0%
+CA$5.1b		30.0%PE27xEnergy
BMO Bank of MontrealCA$248.662.6%
+CA$4.4b		66.3%PB2.1xFinancials
See more

Market Insights

Header cover image
Yield measures a moment. A decade of raising it measures the business: durable earnings, a clean balance sheet, and management disciplined enough to keep it.
Continue reading
Watt's left in the overcrowded power trade?

Latest News

BMO
CA$248.66
Bank of Montreal
7D
2.6%
1Y
66.3%
CNR
CA$171.00
Canadian National Railway
7D
7.1%
1Y
20.7%
FM
CA$37.30
First Quantum Minerals
7D
-13.3%
1Y
55.9%
Narrative Update • Jun 26

FM: Cobre Panama Restart Progress Will Drive Future Upside Potential

The updated analyst price target for First Quantum Minerals has increased from CA$34.96 to CA$47.06. Analysts attribute this change to recent target increases and rating upgrades that reflect potential benefits from progress around Cobre Panama and a reassessment of the overall risk/reward profile.
CLS
CA$478.58
Celestica
7D
-8.9%
1Y
129.0%
RY
CA$288.01
Royal Bank of Canada
7D
1.4%
1Y
62.1%
Narrative Update • Jun 25

RY: Future Returns Will Rely On Fee Income And Capital Return Discipline

Royal Bank of Canada’s analyst fair value estimate has been nudged higher to CA$271.89 from CA$265.46 as analysts reflect a series of increased price targets across the Street, citing stronger fee income, recent revenue growth and confidence in the bank’s medium term return goals. Analyst Commentary Recent Street research on Royal Bank of Canada clusters around higher price targets and generally positive views on execution, with a few more cautious voices highlighting potential limits to upside.
ATD
CA$93.43
Alimentation Couche-Tard
7D
13.4%
1Y
38.1%
TRP
CA$98.83
TC Energy
7D
2.6%
1Y
47.5%
Narrative Update • Jun 24

TRP: Q1 Execution And Fair Value Positioning Will Shape Forward Risk Reward

Analysts have modestly lifted their TC Energy price target to CA$103, with the change linked to updated sector models, Q1 guidance commentary, and a recent shift toward viewing the stock as closer to estimated intrinsic fair value. Analyst Commentary Recent research coverage on TC Energy has focused on how current valuation lines up with analysts’ estimates of intrinsic fair value, especially after the latest Q1 updates and sector model revisions.
ABX
CA$52.90
Barrick Mining
7D
-5.9%
1Y
88.7%
Narrative Update • Jun 24

ABX: Buybacks And Reko Diq Reset Will Support Future Rerating Potential

Analysts have raised their fair value estimate for Barrick Mining to CA$98.54 from CA$96.49, citing slightly revised assumptions for the discount rate, revenue growth, profit margin, and future P/E ratio. These adjustments collectively support a higher long-term price target.
TECK.B
CA$82.66
Teck Resources
7D
-7.1%
1Y
48.8%
ENB
CA$79.79
Enbridge
7D
3.0%
1Y
30.0%
Narrative Update • Jun 22

ENB: Future Returns Will Reflect Regulated Assets And Approved Gas Expansion Project

Analysts have nudged their consolidated fair value estimate for Enbridge slightly higher, with the blended price target moving up by about CA$0.25 as updated sector models reflect modest tweaks to the discount rate and profit expectations following recent Q1 reviews and price target increases from several firms. Analyst Commentary Recent Street research on Enbridge points to a cluster of higher price targets, with several bullish analysts updating their models after Q1 results and sector reviews.
CNQ
CA$56.02
Canadian Natural Resources
7D
-4.5%
1Y
29.9%
Narrative Update • Jun 22

CNQ: Future Buybacks And West Coast Pipeline Progress Will Drive Returns

Analysts have nudged their fair value estimate for Canadian Natural Resources slightly higher to CA$71.20, reflecting a series of recent price target increases, including moves to CA$74 and higher Outperform ratings following the stock's selloff. Analyst Commentary Recent Street research on Canadian Natural Resources has tilted positive, with several firms adjusting price targets higher and reaffirming favorable views after the stock's selloff.
BN
CA$60.86
Brookfield
7D
-3.3%
1Y
8.2%
CP
CA$124.43
Canadian Pacific Kansas City
7D
3.0%
1Y
15.9%
IFC
CA$292.00
Intact Financial
7D
5.1%
1Y
-6.5%
Narrative Update • Jun 18

IFC: Earnings Execution And 23x P/E Will Support Re Rated Upside

Analysts have adjusted the Intact Financial price target lower overall, with cuts of CA$15 and CA$7 from some firms, partly offset by a CA$5 increase from another. These changes reflect updated views on the stock’s outlook and risk profile.
K
CA$34.38
Kinross Gold
7D
-7.0%
1Y
68.8%
Narrative Update • Jun 16

K: Strong Cash Returns And Buybacks Will Support Future Upside Potential

Analysts have adjusted their view on Kinross Gold, trimming the future P/E assumption while keeping fair value broadly steady. This translates into only a modest change to the implied CA$ price target, as slightly higher projected revenue growth and profit margins offset a small increase in the discount rate.
BAM
CA$63.21
Brookfield Asset Management
7D
-4.8%
1Y
-16.4%