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Canadian (TSX) Oil and Gas Industry Analysis
UpdatedJun 29, 2025
DataAggregated Company Financials
Companies189
- 7D-2.3%
- 3M0.5%
- 1Y5.7%
- YTD0.08%
Over the last 7 days, the Oil and Gas industry has dropped 2.3%, driven by a pullback from Canadian Natural Resources of 6.3%. Meanwhile, Cameco actually outperformed within the industry, gaining 7.0% in the last week. In the past year, the industry has gained 5.7%. As for the next few years, earnings are expected to grow by 5.8% per annum.
Industry Valuation and Performance
Has the Canadian Oil and Gas Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 30 Jun 2025 | CA$686.0b | CA$394.4b | CA$42.8b | 12.3x | 16x | 1.7x |
| Wed, 28 May 2025 | CA$672.4b | CA$394.4b | CA$42.9b | 11.9x | 15.7x | 1.7x |
| Fri, 25 Apr 2025 | CA$636.5b | CA$386.9b | CA$38.9b | 11.3x | 16.3x | 1.6x |
| Sun, 23 Mar 2025 | CA$679.1b | CA$387.6b | CA$38.1b | 13.1x | 17.8x | 1.8x |
| Tue, 18 Feb 2025 | CA$668.5b | CA$389.7b | CA$40.6b | 10.9x | 16.5x | 1.7x |
| Thu, 16 Jan 2025 | CA$693.9b | CA$388.3b | CA$45.1b | 11.4x | 15.4x | 1.8x |
| Sat, 14 Dec 2024 | CA$681.6b | CA$388.3b | CA$45.1b | 10.6x | 15.1x | 1.8x |
| Mon, 11 Nov 2024 | CA$689.0b | CA$387.6b | CA$45.2b | 10.8x | 15.2x | 1.8x |
| Wed, 09 Oct 2024 | CA$693.1b | CA$386.2b | CA$43.7b | 12x | 15.9x | 1.8x |
| Fri, 06 Sep 2024 | CA$647.1b | CA$386.5b | CA$43.8b | 11.6x | 14.8x | 1.7x |
| Sun, 04 Aug 2024 | CA$635.1b | CA$375.2b | CA$44.4b | 10.3x | 14.3x | 1.7x |
| Tue, 02 Jul 2024 | CA$644.2b | CA$366.1b | CA$43.4b | 11.5x | 14.9x | 1.8x |
| Thu, 30 May 2024 | CA$680.3b | CA$368.1b | CA$44.0b | 12.5x | 15.5x | 1.8x |
| Sat, 27 Apr 2024 | CA$673.8b | CA$367.9b | CA$48.2b | 9.6x | 14x | 1.8x |
| Mon, 25 Mar 2024 | CA$639.2b | CA$363.6b | CA$47.8b | 9.3x | 13.4x | 1.8x |
| Wed, 21 Feb 2024 | CA$603.1b | CA$383.6b | CA$52.9b | 7.4x | 11.4x | 1.6x |
| Fri, 19 Jan 2024 | CA$594.1b | CA$386.3b | CA$47.8b | 6.6x | 12.4x | 1.5x |
| Sun, 17 Dec 2023 | CA$601.0b | CA$386.1b | CA$47.7b | 6.3x | 12.6x | 1.6x |
| Tue, 14 Nov 2023 | CA$624.6b | CA$387.0b | CA$48.2b | 6.5x | 13x | 1.6x |
| Thu, 12 Oct 2023 | CA$621.6b | CA$401.3b | CA$55.6b | 6.2x | 11.2x | 1.5x |
| Sat, 09 Sep 2023 | CA$620.3b | CA$401.4b | CA$55.6b | 6.4x | 11.2x | 1.5x |
| Mon, 07 Aug 2023 | CA$589.4b | CA$407.3b | CA$58.2b | 6x | 10.1x | 1.4x |
| Wed, 05 Jul 2023 | CA$560.4b | CA$436.7b | CA$67.5b | 5.1x | 8.3x | 1.3x |
| Fri, 02 Jun 2023 | CA$546.5b | CA$437.2b | CA$67.7b | 4.4x | 8.1x | 1.2x |
| Sun, 30 Apr 2023 | CA$587.2b | CA$446.0b | CA$68.7b | 4.7x | 8.5x | 1.3x |
| Tue, 28 Mar 2023 | CA$547.9b | CA$450.0b | CA$70.0b | 4.2x | 7.8x | 1.2x |
| Thu, 23 Feb 2023 | CA$572.9b | CA$443.9b | CA$72.6b | 4.7x | 7.9x | 1.3x |
| Sat, 21 Jan 2023 | CA$611.5b | CA$436.9b | CA$74.7b | 5.2x | 8.2x | 1.4x |
| Mon, 19 Dec 2022 | CA$574.0b | CA$437.5b | CA$74.9b | 4.8x | 7.7x | 1.3x |
| Wed, 16 Nov 2022 | CA$646.0b | CA$436.5b | CA$74.4b | 5.7x | 8.7x | 1.5x |
| Fri, 14 Oct 2022 | CA$582.5b | CA$406.7b | CA$65.0b | 6.3x | 9x | 1.4x |
| Sun, 11 Sep 2022 | CA$601.8b | CA$405.2b | CA$64.7b | 6x | 9.3x | 1.5x |
| Tue, 09 Aug 2022 | CA$575.8b | CA$402.3b | CA$64.0b | 5.6x | 9x | 1.4x |
| Thu, 07 Jul 2022 | CA$570.4b | CA$352.9b | CA$52.8b | 6.7x | 10.8x | 1.6x |
Price to Earnings Ratio
10.8x
Current Industry PE
- Investors are relatively neutral on the Canadian Oil and Gas industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 16.1x.
- The 3-year average PS ratio of 2.1x is higher than the industry's current PS ratio of 1.7x.
Past Earnings Growth
- The earnings for companies in the Oil and Gas industry have declined 6.7% per year over the last three years.
- Meanwhile revenues for these companies have grown 3.8% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Canadian Energy industry?
| CA Market | 0.53% | |
| Energy | -2.29% | |
| Oil and Gas | -2.29% | |
| Coal and Fuels | 5.78% | |
| Oil and Gas Storage and Transportation | 0.48% | |
| Oil and Gas Refining and Marketing | -0.24% | |
| Oil and Gas Exploration and Production | -5.23% | |
| Integrated Oil and Gas | -5.38% | |
Industry PE
- Investors are most optimistic about the Oil and Gas Storage and Transportation industry even though it's trading below its 3-year average PE ratio of 23.1x.
- Analysts expect its future annual earnings growth (5.6%) to be largely in line with prior year's earnings growth.
Forecasted Growth
- Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 31% over the next 5 years.
- This is better than its past earnings decline of 36% per year.
- In contrast, the Integrated Oil and Gas industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| TRP TC Energy | CA$67.00 | 3.3% +CA$2.3b | 29.2% | PE16.6x | |
| CCO Cameco | CA$100.41 | 4.9% +CA$2.0b | 49.2% | PE175.8x | |
| EU enCore Energy | CA$3.65 | 14.8% +CA$87.5m | -32.0% | PS10.7x | |
| SES SECURE Waste Infrastructure | CA$15.38 | 2.4% +CA$79.2m | 27.0% | PE17.1x | |
| NXE NexGen Energy | CA$9.30 | 1.4% +CA$74.2m | -2.5% | PB4.8x |