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Canadian (TSX) Banks Industry Analysis
UpdatedJun 02, 2025
DataAggregated Company Financials
Companies9
- 7D0.7%
- 3M7.9%
- 1Y21.1%
- YTD5.5%
Over the last 7 days, the Banks industry has remained flat, although notably National Bank of Canada gained 4.8%. As for the the longer term, the industry is up 21% over the past 12 months. As for the next few years, earnings are expected to grow by 3.4% per annum.
Industry Valuation and Performance
Has the Canadian Banks Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 02 Jun 2025 | CA$752.0b | CA$219.5b | CA$60.4b | 13.6x | 12.5x | 3.4x |
| Wed, 30 Apr 2025 | CA$696.8b | CA$207.7b | CA$51.1b | 13x | 13.6x | 3.4x |
| Fri, 28 Mar 2025 | CA$706.3b | CA$207.7b | CA$51.1b | 13.2x | 13.8x | 3.4x |
| Sun, 23 Feb 2025 | CA$717.2b | CA$202.5b | CA$49.4b | 14.2x | 14.5x | 3.5x |
| Tue, 21 Jan 2025 | CA$728.2b | CA$203.6b | CA$49.6b | 15.1x | 14.7x | 3.6x |
| Thu, 19 Dec 2024 | CA$727.1b | CA$195.5b | CA$50.2b | 13x | 14.5x | 3.7x |
| Sat, 16 Nov 2024 | CA$713.9b | CA$206.4b | CA$47.7b | 13.3x | 15x | 3.5x |
| Mon, 14 Oct 2024 | CA$695.3b | CA$206.4b | CA$47.7b | 12.7x | 14.6x | 3.4x |
| Wed, 11 Sep 2024 | CA$680.5b | CA$206.4b | CA$47.7b | 12.3x | 14.3x | 3.3x |
| Fri, 09 Aug 2024 | CA$612.5b | CA$202.7b | CA$49.6b | 11.7x | 12.3x | 3x |
| Sun, 07 Jul 2024 | CA$608.7b | CA$202.7b | CA$49.6b | 11.3x | 12.3x | 3x |
| Tue, 04 Jun 2024 | CA$623.3b | CA$201.0b | CA$49.5b | 10.7x | 12.6x | 3.1x |
| Thu, 02 May 2024 | CA$604.2b | CA$199.0b | CA$49.4b | 10.3x | 12.2x | 3x |
| Sat, 30 Mar 2024 | CA$630.2b | CA$199.0b | CA$49.4b | 11.1x | 12.8x | 3.2x |
| Mon, 26 Feb 2024 | CA$605.8b | CA$195.5b | CA$44.8b | 11.1x | 13.5x | 3.1x |
| Wed, 24 Jan 2024 | CA$600.7b | CA$195.5b | CA$44.8b | 10.7x | 13.4x | 3.1x |
| Fri, 22 Dec 2023 | CA$603.3b | CA$195.5b | CA$44.8b | 10.7x | 13.5x | 3.1x |
| Sun, 19 Nov 2023 | CA$559.9b | CA$197.4b | CA$51.6b | 9.7x | 10.8x | 2.8x |
| Tue, 17 Oct 2023 | CA$546.6b | CA$197.4b | CA$51.6b | 9.4x | 10.6x | 2.8x |
| Thu, 14 Sep 2023 | CA$572.7b | CA$197.4b | CA$51.6b | 10.1x | 11.1x | 2.9x |
| Sat, 12 Aug 2023 | CA$593.0b | CA$192.8b | CA$52.2b | 10.3x | 11.4x | 3.1x |
| Mon, 10 Jul 2023 | CA$575.4b | CA$192.7b | CA$52.1b | 9.9x | 11x | 3x |
| Wed, 07 Jun 2023 | CA$570.0b | CA$192.7b | CA$52.1b | 10x | 10.9x | 3x |
| Fri, 05 May 2023 | CA$577.0b | CA$192.7b | CA$57.6b | 9.1x | 10x | 3x |
| Sun, 02 Apr 2023 | CA$584.6b | CA$192.7b | CA$57.6b | 9.6x | 10.2x | 3x |
| Tue, 28 Feb 2023 | CA$627.7b | CA$192.0b | CA$64.1b | 9.6x | 9.8x | 3.3x |
| Thu, 26 Jan 2023 | CA$616.0b | CA$191.8b | CA$65.6b | 8.7x | 9.4x | 3.2x |
| Sat, 24 Dec 2022 | CA$587.5b | CA$191.8b | CA$65.6b | 8.2x | 9x | 3.1x |
| Mon, 21 Nov 2022 | CA$611.5b | CA$185.3b | CA$61.0b | 9.9x | 10x | 3.3x |
| Wed, 19 Oct 2022 | CA$579.9b | CA$185.3b | CA$61.0b | 9x | 9.5x | 3.1x |
| Fri, 16 Sep 2022 | CA$601.5b | CA$185.3b | CA$61.0b | 9.3x | 9.9x | 3.2x |
| Sun, 14 Aug 2022 | CA$617.1b | CA$188.4b | CA$63.0b | 9.6x | 9.8x | 3.3x |
| Tue, 12 Jul 2022 | CA$591.4b | CA$188.4b | CA$63.0b | 9x | 9.4x | 3.1x |
| Thu, 09 Jun 2022 | CA$655.2b | CA$188.7b | CA$63.0b | 10.2x | 10.4x | 3.5x |
Price to Earnings Ratio
10.4x
Current Industry PE
- Investors are relatively neutral on the Canadian Banks 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 11.8x.
- The industry is trading close to its 3-year average PS ratio of 3.2x.
Past Earnings Growth
- The earnings for companies in the Banks industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 5.2% 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 and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the Canadian Financials industry?
| CA Market | 0.26% | |
| Financials | 0.55% | |
| Banks | 0.74% | |
| Diversified Banks | 0.75% | |
| Regional Banks | -0.60% | |
Industry PE
- Investors are most optimistic about the Diversified Banks industry, which is trading close to its 3-year average PE ratio of 11.9x.
- Analysts are expecting annual earnings growth of 3.3%, which is lower than the prior year's growth of 20.7% per year.
- Investors are most pessimistic about the Regional Banks industry, which is trading close to its 3-year average of 9.2x.
Forecasted Growth
- Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 16% over the next 5 years.
- This is better than its past earnings decline of 16% per year.
- In contrast, the Diversified Banks industry is expected to see its earnings grow by 3.3% per year 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 | |
|---|---|---|---|---|---|
| NA National Bank of Canada | CA$135.07 | 4.8% +CA$2.4b | 15.2% | PB1.7x | |
| TD Toronto-Dominion Bank | CA$94.77 | 1.4% +CA$2.3b | 25.7% | PB1.3x | |
| BNS Bank of Nova Scotia | CA$73.43 | 2.4% +CA$2.1b | 14.1% | PB1.1x | |
| BMO Bank of Montreal | CA$147.37 | 2.4% +CA$1.7b | 21.5% | PB1.3x | |
| LB Laurentian Bank of Canada | CA$30.60 | 8.2% +CA$103.1m | 20.2% | PB0.5x |
