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Canadian (TSX) Oil and Gas Industry Analysis

UpdatedNov 08, 2025
DataAggregated Company Financials
Companies182
  • 7D0.5%
  • 3M8.6%
  • 1Y11.2%
  • YTD11.5%

Over the last 7 days, the Oil and Gas industry has remained flat, although notably Suncor Energy gained 7.0%. The past year has been better, since the industry has gained 11% in that time. Looking forward, earnings are forecast to grow by 7.1% annually.

Industry Valuation and Performance

Has the Canadian Oil and Gas Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 08 Nov 2025CA$745.1bCA$361.9bCA$39.6b13.9x18.8x2.1x
Mon, 06 Oct 2025CA$770.0bCA$390.7bCA$43.9b12.6x17.5x2x
Wed, 03 Sep 2025CA$732.6bCA$390.5bCA$43.9b12.4x16.7x1.9x
Fri, 01 Aug 2025CA$710.0bCA$394.6bCA$43.3b12.1x16.4x1.8x
Sun, 29 Jun 2025CA$686.0bCA$394.4bCA$42.8b12.3x16x1.7x
Tue, 27 May 2025CA$667.6bCA$394.4bCA$42.9b11.8x15.6x1.7x
Thu, 24 Apr 2025CA$634.2bCA$386.8bCA$38.8b11.3x16.3x1.6x
Sat, 22 Mar 2025CA$679.3bCA$387.6bCA$38.1b13.1x17.8x1.8x
Mon, 17 Feb 2025CA$671.0bCA$391.2bCA$40.6b10.9x16.5x1.7x
Wed, 15 Jan 2025CA$693.9bCA$388.3bCA$45.1b11.4x15.4x1.8x
Fri, 13 Dec 2024CA$682.5bCA$388.3bCA$45.1b10.5x15.1x1.8x
Sun, 10 Nov 2024CA$689.0bCA$389.6bCA$45.3b10.8x15.2x1.8x
Tue, 08 Oct 2024CA$685.7bCA$386.2bCA$43.7b12.3x15.7x1.8x
Thu, 05 Sep 2024CA$653.2bCA$386.5bCA$43.8b11.6x14.9x1.7x
Sat, 03 Aug 2024CA$653.9bCA$372.7bCA$44.0b10.4x14.9x1.8x
Mon, 01 Jul 2024CA$644.2bCA$366.1bCA$43.4b11.5x14.9x1.8x
Wed, 29 May 2024CA$673.8bCA$368.0bCA$44.0b12.6x15.3x1.8x
Fri, 26 Apr 2024CA$673.5bCA$367.9bCA$48.2b9.6x14x1.8x
Sun, 24 Mar 2024CA$639.2bCA$363.6bCA$47.8b9.7x13.4x1.8x
Tue, 20 Feb 2024CA$605.8bCA$383.5bCA$52.9b7.6x11.5x1.6x
Thu, 18 Jan 2024CA$596.5bCA$386.4bCA$47.8b6.6x12.5x1.5x
Sat, 16 Dec 2023CA$601.0bCA$386.1bCA$47.7b6.3x12.6x1.6x
Mon, 13 Nov 2023CA$619.1bCA$387.2bCA$48.2b6.6x12.8x1.6x
Wed, 11 Oct 2023CA$620.1bCA$401.3bCA$55.6b6.3x11.2x1.5x
Fri, 08 Sep 2023CA$620.3bCA$401.5bCA$55.6b6.4x11.2x1.5x
Sun, 06 Aug 2023CA$589.4bCA$408.6bCA$58.2b6x10.1x1.4x
Tue, 04 Jul 2023CA$557.7bCA$436.7bCA$67.5b5x8.3x1.3x
Thu, 01 Jun 2023CA$545.2bCA$437.4bCA$67.8b4.3x8x1.2x
Sat, 29 Apr 2023CA$587.2bCA$446.0bCA$68.7b4.7x8.5x1.3x
Mon, 27 Mar 2023CA$540.1bCA$450.2bCA$70.0b4.1x7.7x1.2x
Wed, 22 Feb 2023CA$576.7bCA$443.4bCA$72.5b4.9x8x1.3x
Fri, 20 Jan 2023CA$611.0bCA$437.1bCA$74.8b5.2x8.2x1.4x
Sun, 18 Dec 2022CA$574.0bCA$437.5bCA$74.9b4.8x7.7x1.3x
Tue, 15 Nov 2022CA$638.0bCA$433.0bCA$74.4b5.5x8.6x1.5x
Price to Earnings Ratio

8.6x


Total Market Cap: CA$638.0bTotal Earnings: CA$74.4bTotal Revenue: CA$433.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Industry Price to Earnings3Y Average 16.9x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Oil and Gas industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 18.8x which is higher than its 3-year average PE of 16.9x.
  • The industry is trading close to its 3-year average PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 19% per year over the last three years,
  • Revenues have also declined 5.8% 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 industry?

CA Market-0.72%
Energy0.44%
Oil and Gas0.50%
Integrated Oil and Gas5.59%
Oil and Gas Storage and Transportation2.02%
Oil and Gas Exploration and Production-0.17%
Oil and Gas Refining and Marketing-0.63%
Coal and Fuels-12.23%
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 23.2x.
    • Analysts are expecting annual earnings growth of 5.0%, which is higher than its past year's earnings growth of 0.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Refining and Marketing industry, expecting annual earnings growth of 42% over the next 5 years.
  • This is better than its past earnings decline of 83% 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?

CompanyLast Price7D1YValuation
SU Suncor EnergyCA$59.767.0%
+CA$4.0b		9.7%PE13.6x
ENB EnbridgeCA$66.942.4%
+CA$3.4b		13.6%PE23.5x
IMO Imperial OilCA$130.985.6%
+CA$1.9b		28.6%PE16.3x
CVE Cenovus EnergyCA$24.493.3%
+CA$1.4b		9.2%PE13.7x
SCR Strathcona ResourcesCA$38.724.6%
+CA$368.5m		37.9%PE13.9x

Latest News

ARX
CA$23.89
ARC Resources
7D
-7.7%
1Y
-3.9%
CNQ
CA$44.40
Canadian Natural Resources
7D
-1.0%
1Y
-6.7%
SCR
CA$38.72
Strathcona Resources
7D
4.6%
1Y
37.9%
CCO
CA$129.43
Cameco
7D
-9.7%
1Y
77.0%
PPL
CA$52.04
Pembina Pipeline
7D
-1.9%
1Y
-8.7%
IPCO
CA$25.09
International Petroleum
7D
12.6%
1Y
67.9%

International Petroleum Corporation Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Nov 07
International Petroleum Corporation Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
ENB
CA$66.94
Enbridge
7D
2.4%
1Y
13.6%
SU
CA$59.76
Suncor Energy
7D
7.0%
1Y
9.7%

SU: Shares Will Remain Resilient As Cash Flow Yields Stay Strong

Suncor Energy's analyst fair value estimate has increased from C$62.55 to C$64.10. Analysts point to improving free cash flow yield, higher profit margin expectations, and sector resilience as key drivers for the upward revision.
TOU
CA$60.09
Tourmaline Oil
7D
-2.6%
1Y
-3.5%
NVA
CA$18.01
NuVista Energy
7D
8.0%
1Y
43.3%
EFR
CA$21.98
Energy Fuels
7D
-23.7%
1Y
149.8%
CVE
CA$24.49
Cenovus Energy
7D
3.3%
1Y
9.2%

CVE: MEG Acquisition Will Drive Stronger Returns Amid Deal Execution Risks

Analysts have slightly lowered their average price target for Cenovus Energy to C$27.97 from C$28. They cite updated models that factor in higher revenue growth but slightly reduced profit margin forecasts following recent research and the MEG acquisition.
IMO
CA$130.98
Imperial Oil
7D
5.6%
1Y
28.6%
NXE
CA$11.85
NexGen Energy
7D
-13.6%
1Y
15.6%
DML
CA$3.61
Denison Mines
7D
-19.2%
1Y
25.3%
KEL
CA$7.71
Kelt Exploration
7D
15.6%
1Y
21.6%