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Canadian (TSX) Market Analysis & Valuation

UpdatedJun 03, 2026
DataAggregated Company Financials
Companies2191
  • 7D1.1%
  • 3M4.4%
  • 1Y32.4%
  • YTD11.8%

The market has climbed 1.1% in the last 7 days, lead by the Materials sector with a gain of 2.8%. As for the past 12 months, the market is up 32%. Looking forward, earnings are forecast to grow by 11% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Canadian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 04 Jun 2026CA$5.5tCA$2.2tCA$243.4b16.6x22.5x2.5x
Sat, 02 May 2026CA$5.4tCA$2.2tCA$240.8b16.5x22.3x2.5x
Mon, 30 Mar 2026CA$5.0tCA$2.2tCA$240.7b15.7x20.9x2.3x
Wed, 25 Feb 2026CA$5.3tCA$2.1tCA$236.6b17.2x22.5x2.5x
Fri, 23 Jan 2026CA$5.1tCA$2.1tCA$224.8b17.4x22.9x2.4x
Sun, 21 Dec 2025CA$4.9tCA$2.1tCA$224.7b16.4x21.9x2.3x
Tue, 18 Nov 2025CA$4.7tCA$2.1tCA$224.4b15.9x21x2.2x
Thu, 16 Oct 2025CA$4.8tCA$2.2tCA$209.6b16.8x22.7x2.2x
Sat, 13 Sep 2025CA$4.6tCA$2.1tCA$208.5b16.3x22.2x2.2x
Mon, 11 Aug 2025CA$4.3tCA$2.1tCA$201.9b15.7x21.5x2x
Wed, 09 Jul 2025CA$4.3tCA$2.1tCA$191.6b16.1x22.4x2x
Fri, 06 Jun 2025CA$4.2tCA$2.1tCA$191.8b15.5x21.9x2x
Sun, 04 May 2025CA$4.0tCA$2.1tCA$175.8b14.8x22.7x1.9x
Tue, 01 Apr 2025CA$3.9tCA$2.1tCA$174.0b15.2x22.7x1.9x
Thu, 27 Feb 2025CA$4.0tCA$2.1tCA$169.9b14.9x23.5x1.9x
Sat, 25 Jan 2025CA$4.0tCA$2.1tCA$171.2b15x23.1x1.9x
Mon, 23 Dec 2024CA$3.8tCA$2.1tCA$169.2b13.8x22.7x1.8x
Wed, 20 Nov 2024CA$3.9tCA$2.1tCA$167.4b14.6x23.3x1.8x
Fri, 18 Oct 2024CA$3.9tCA$2.1tCA$168.1b15.7x23.3x1.9x
Sun, 15 Sep 2024CA$3.8tCA$2.1tCA$167.4b15.1x22.5x1.8x
Tue, 13 Aug 2024CA$3.6tCA$2.1tCA$170.3b14.4x21x1.7x
Thu, 11 Jul 2024CA$3.5tCA$2.0tCA$166.6b13.9x21.3x1.7x
Sat, 08 Jun 2024CA$3.6tCA$2.1tCA$166.9b14.3x21.5x1.8x
Mon, 06 May 2024CA$3.5tCA$2.0tCA$172.9b14x20.4x1.7x
Wed, 03 Apr 2024CA$3.5tCA$2.0tCA$173.3b13.9x20.5x1.7x
Fri, 01 Mar 2024CA$3.4tCA$2.1tCA$172.2b13.9x19.8x1.7x
Sun, 28 Jan 2024CA$3.4tCA$2.1tCA$173.9b12.8x19.6x1.6x
Tue, 26 Dec 2023CA$3.4tCA$2.1tCA$172.8b13.2x19.5x1.6x
Thu, 23 Nov 2023CA$3.2tCA$2.1tCA$179.5b11.7x18.1x1.6x
Sat, 21 Oct 2023CA$3.1tCA$2.1tCA$185.3b11.4x16.8x1.5x
Mon, 18 Sep 2023CA$3.3tCA$2.1tCA$184.5b11.9x18.1x1.6x
Wed, 16 Aug 2023CA$3.2tCA$2.1tCA$185.5b11.3x17.4x1.5x
Fri, 14 Jul 2023CA$3.3tCA$2.1tCA$199.8b11.4x16.3x1.5x
Sun, 11 Jun 2023CA$3.2tCA$2.1tCA$199.8b11.2x16.1x1.5x
Price to Earnings Ratio

16.1x


Total Market Cap: CA$3.2tTotal Earnings: CA$199.8bTotal 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 21.0x.
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 Market1.07%
Tech12.42%
Materials2.75%
Consumer Staples1.80%
Industrials1.33%
Energy0.72%
Healthcare0.53%
Telecom0.28%
Real Estate0.098%
Consumer Discretionary-0.15%
Financials-0.42%
Utilities-2.01%
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 22.4%, which is higher than its past year's earnings growth of 3.0% 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 5.4% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 8.5% 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
CLS CelesticaCA$636.0628.7%
+CA$16.3b		288.0%PE54.9xTech
CNQ Canadian Natural ResourcesCA$66.364.8%
+CA$6.3b		56.8%PE14.2xEnergy
CCO CamecoCA$159.527.3%
+CA$4.7b		94.5%PE106.8xEnergy
FM First Quantum MineralsCA$45.3014.1%
+CA$4.6b		115.4%PS5xMaterials
RY Royal Bank of CanadaCA$265.811.6%
+CA$3.9b		52.5%PB2.8xFinancials
See more

Market Insights

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H
CA$55.58
Hydro One
7D
-6.0%
1Y
11.8%
CLS
CA$636.06
Celestica
7D
28.7%
1Y
288.0%
QSP.UN
CA$98.88
Restaurant Brands International Limited Partnership
7D
-5.6%
1Y
2.1%
CCO
CA$159.52
Cameco
7D
7.3%
1Y
94.5%
BBD.B
CA$322.06
Bombardier
7D
10.7%
1Y
230.8%
Narrative Update • Jun 02

BBD.B: Fair Value Outlook Will Depend On Execution And Capital Allocation

Analysts have lifted the Bombardier fair value estimate from CA$304.33 to CA$349.61. This reflects a series of recent price target increases across the Street, including moves to CA$350 at BMO Capital and CA$330 at Scotiabank, supported by updated assumptions for revenue growth, profit margins and future P/E levels.
CM
CA$149.27
Canadian Imperial Bank of Commerce
7D
-6.4%
1Y
60.6%
RY
CA$265.81
Royal Bank of Canada
7D
1.6%
1Y
52.5%
NA
CA$200.00
National Bank of Canada
7D
-1.9%
1Y
48.8%
FM
CA$45.30
First Quantum Minerals
7D
14.1%
1Y
115.4%
BAM
CA$62.85
Brookfield Asset Management
7D
-7.2%
1Y
-18.8%
CVE
CA$41.00
Cenovus Energy
7D
5.1%
1Y
130.5%
CP
CA$123.84
Canadian Pacific Kansas City
7D
-1.9%
1Y
10.4%
SU
CA$91.16
Suncor Energy
7D
3.0%
1Y
83.4%
BN
CA$60.94
Brookfield
7D
-4.2%
1Y
15.4%
CNQ
CA$66.36
Canadian Natural Resources
7D
4.8%
1Y
56.8%
FTS
CA$76.01
Fortis
7D
-3.2%
1Y
15.3%
Narrative Update • May 20

FTS: Fairly Valued Outlook Will Rely On Discount Rates And Profit Margins

Analysts have nudged the Fortis price target higher to about CA$78.90. They cite recent target increases from several banks and updated assumptions around discount rates, profit margins and forward P/E that are only partly offset by a modest cut from one firm.