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Canadian (TSX) Energy Sector Analysis

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies203
  • 7D-2.7%
  • 3M13.3%
  • 1Y50.3%
  • YTD25.7%

Over the last 7 days, the Energy industry has dropped 2.7%, driven by declines in Canadian Natural Resources and Suncor Energy of 6.0% and 6.5%, respectively. On the other hand Energy Fuels is actually up 8.5%. Over the past 12 months, the industry was up 50%. Earnings are forecast to grow by 9.8% annually.

Sector Valuation and Performance

Has the Canadian Energy Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 10 May 2026CA$980.5bCA$369.0bCA$40.8b17.2x24x2.7x
Tue, 07 Apr 2026CA$991.0bCA$363.0bCA$42.1b16.8x23.5x2.7x
Thu, 05 Mar 2026CA$931.0bCA$365.1bCA$41.2b17.2x22.6x2.5x
Sat, 31 Jan 2026CA$859.8bCA$376.6bCA$39.3b15.4x21.9x2.3x
Mon, 29 Dec 2025CA$758.6bCA$377.6bCA$39.5b13.6x19.2x2x
Wed, 26 Nov 2025CA$785.1bCA$378.9bCA$39.5b13.8x19.9x2.1x
Fri, 24 Oct 2025CA$756.1bCA$411.8bCA$44.8b12x16.9x1.8x
Sun, 21 Sep 2025CA$767.2bCA$410.8bCA$44.9b11.7x17.1x1.9x
Tue, 19 Aug 2025CA$719.0bCA$410.9bCA$44.8b11.1x16.1x1.7x
Thu, 17 Jul 2025CA$709.4bCA$414.2bCA$43.8b11.8x16.2x1.7x
Sat, 14 Jun 2025CA$758.8bCA$414.1bCA$43.8b12.7x17.3x1.8x
Mon, 12 May 2025CA$668.5bCA$417.8bCA$42.7b9.8x15.7x1.6x
Wed, 09 Apr 2025CA$613.2bCA$406.7bCA$39.7b9.8x15.4x1.5x
Fri, 07 Mar 2025CA$641.7bCA$404.7bCA$40.6b10.5x15.8x1.6x
Sun, 02 Feb 2025CA$690.2bCA$408.0bCA$46.0b10.4x15x1.7x
Tue, 31 Dec 2024CA$681.1bCA$408.2bCA$46.2b10.3x14.7x1.7x
Thu, 28 Nov 2024CA$715.9bCA$407.8bCA$46.2b10.8x15.5x1.8x
Sat, 26 Oct 2024CA$700.3bCA$405.7bCA$45.0b10.8x15.6x1.7x
Mon, 23 Sep 2024CA$656.5bCA$405.9bCA$45.0b9.7x14.6x1.6x
Wed, 21 Aug 2024CA$685.9bCA$405.8bCA$45.1b10x15.2x1.7x
Fri, 19 Jul 2024CA$668.9bCA$394.7bCA$45.2b11x14.8x1.7x
Sun, 16 Jun 2024CA$645.9bCA$394.4bCA$45.2b10.3x14.3x1.6x
Tue, 14 May 2024CA$688.2bCA$396.4bCA$46.2b9.9x14.9x1.7x
Thu, 11 Apr 2024CA$690.8bCA$395.5bCA$49.9b9.7x13.8x1.7x
Sat, 09 Mar 2024CA$633.2bCA$393.0bCA$50.3b8.2x12.6x1.6x
Mon, 05 Feb 2024CA$607.7bCA$413.3bCA$48.6b6.7x12.5x1.5x
Wed, 03 Jan 2024CA$613.8bCA$414.2bCA$48.9b6.7x12.6x1.5x
Fri, 01 Dec 2023CA$630.4bCA$414.5bCA$49.0b6.9x12.9x1.5x
Sun, 29 Oct 2023CA$632.7bCA$429.0bCA$56.6b6.5x11.2x1.5x
Tue, 26 Sep 2023CA$633.8bCA$428.2bCA$56.7b6.5x11.2x1.5x
Thu, 24 Aug 2023CA$604.5bCA$428.2bCA$56.7b6.1x10.7x1.4x
Sat, 22 Jul 2023CA$584.8bCA$462.9bCA$68.5b5.6x8.5x1.3x
Mon, 19 Jun 2023CA$566.7bCA$463.0bCA$68.6b5x8.3x1.2x
Wed, 17 May 2023CA$554.7bCA$464.3bCA$68.7b4.7x8.1x1.2x
Price to Earnings Ratio

8.1x


Total Market Cap: CA$554.7bTotal Earnings: CA$68.7bTotal Revenue: CA$464.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Energy Sector Price to Earnings3Y Average 19x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Energy industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 24.0x which is higher than its 3-year average PE of 19.0x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 16% per year over the last three years,
  • Revenues have also declined 7.5% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Canadian Energy sector?

CA Market0.99%
Energy-2.71%
Oil and Gas-2.69%
Energy Services-3.79%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 12.7x.
    • Analysts are expecting annual earnings growth of 26.3%, which is higher than its past year's earnings decline of 10.7% per year.
  • Investors are most pessimistic about the Oil and Gas industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 19.1x.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings decline of 11% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 9.4% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
EFR Energy FuelsCA$31.858.5%
+CA$618.1m		382.6%PS68.2x
SOBO South BowCA$47.923.1%
+CA$296.2m		33.9%PE16.9x
EFX EnerflexCA$38.746.3%
+CA$279.4m		308.6%PE41.7x
PSI Pason SystemsCA$14.876.4%
+CA$69.7m		32.8%PE21.7x
JOY Journey EnergyCA$6.6314.9%
+CA$58.0m		357.2%PE17.3x

Latest News

SOBO
CA$47.92
South Bow
7D
3.1%
1Y
33.9%
EFX
CA$38.74
Enerflex
7D
6.3%
1Y
308.6%
CNQ
CA$60.96
Canadian Natural Resources
7D
-6.0%
1Y
45.8%
PPL
CA$61.32
Pembina Pipeline
7D
-3.0%
1Y
11.8%
CVE
CA$38.84
Cenovus Energy
7D
-2.3%
1Y
118.4%
Analysis Article • May 08

Cenovus Energy Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Shareholders might have noticed that Cenovus Energy Inc. ( TSE:CVE ) filed its first-quarter result this time last...
ENB
CA$73.72
Enbridge
7D
-2.2%
1Y
15.6%
EFR
CA$31.85
Energy Fuels
7D
8.5%
1Y
382.6%
SU
CA$87.05
Suncor Energy
7D
-6.5%
1Y
82.5%
CCO
CA$162.16
Cameco
7D
-2.9%
1Y
136.6%
TRP
CA$88.77
TC Energy
7D
-2.5%
1Y
30.0%
IMO
CA$171.87
Imperial Oil
7D
-5.5%
1Y
77.8%
Narrative Update • May 06

IMO: Future Cash Returns Will Depend On Execution And Cash Discipline

Analysts have raised their fair value estimate for Imperial Oil by about CA$55 to CA$205.25, citing a higher assumed revenue growth rate, a slightly higher discount rate, a modestly lower profit margin, and a marginally reduced future P/E expectation. Analyst Commentary Recent Street research shows a cluster of higher price targets for Imperial Oil, with several bullish analysts adjusting their fair value assumptions upward in fairly quick succession.
JOY
CA$6.63
Journey Energy
7D
14.9%
1Y
357.2%
PSI
CA$14.87
Pason Systems
7D
6.4%
1Y
32.8%
ISO
CA$16.75
IsoEnergy
7D
2.9%
1Y
84.9%
TAL
CA$0.55
PetroTal
7D
5.8%
1Y
-1.8%
CVVY
CA$1.51
Cavvy Energy
7D
11.0%
1Y
350.7%