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Canadian (TSX) Banks Industry Analysis

UpdatedNov 12, 2024
DataAggregated Company Financials
Companies10
  • 7D2.0%
  • 3M13.5%
  • 1Y29.7%
  • YTD15.5%

The Banks industry is up 2.0% in the last week, with Toronto-Dominion Bank up 3.1%. In the last 12 months, the industry was up 30%. Looking forward, earnings are forecast to grow by 8.0% annually.

Industry Valuation and Performance

Has the Canadian Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 12 Nov 2024CA$710.2bCA$206.4bCA$47.7b13.2x14.9x3.4x
Thu, 10 Oct 2024CA$697.1bCA$206.4bCA$47.7b12.5x14.6x3.4x
Sat, 07 Sep 2024CA$669.8bCA$206.4bCA$47.7b12x14.1x3.2x
Mon, 05 Aug 2024CA$620.7bCA$202.7bCA$49.6b11.6x12.5x3.1x
Wed, 03 Jul 2024CA$605.6bCA$202.7bCA$49.6b11.2x12.2x3x
Fri, 31 May 2024CA$620.4bCA$200.9bCA$49.4b10.8x12.5x3.1x
Sun, 28 Apr 2024CA$607.9bCA$199.0bCA$49.4b10.3x12.3x3.1x
Tue, 26 Mar 2024CA$623.5bCA$199.0bCA$49.4b10.9x12.6x3.1x
Thu, 22 Feb 2024CA$602.1bCA$195.5bCA$44.8b11.1x13.5x3.1x
Sat, 20 Jan 2024CA$595.3bCA$195.5bCA$44.8b10.7x13.3x3x
Mon, 18 Dec 2023CA$596.7bCA$195.3bCA$44.7b10.6x13.4x3.1x
Wed, 15 Nov 2023CA$546.1bCA$197.4bCA$51.6b9.5x10.6x2.8x
Fri, 13 Oct 2023CA$549.0bCA$197.4bCA$51.6b9.4x10.6x2.8x
Sun, 10 Sep 2023CA$560.5bCA$197.4bCA$51.6b9.9x10.9x2.8x
Tue, 08 Aug 2023CA$594.6bCA$192.8bCA$52.2b10.2x11.4x3.1x
Thu, 06 Jul 2023CA$584.4bCA$192.7bCA$52.1b10x11.2x3x
Sat, 03 Jun 2023CA$572.0bCA$192.7bCA$52.1b10x11x3x
Mon, 01 May 2023CA$595.7bCA$192.7bCA$57.6b9.7x10.3x3.1x
Wed, 29 Mar 2023CA$573.2bCA$192.7bCA$57.6b9.5x10x3x
Fri, 24 Feb 2023CA$621.8bCA$191.8bCA$65.6b9.2x9.5x3.2x
Sun, 22 Jan 2023CA$612.6bCA$191.8bCA$65.6b8.7x9.3x3.2x
Tue, 20 Dec 2022CA$577.5bCA$191.8bCA$65.6b8.1x8.8x3x
Thu, 17 Nov 2022CA$606.2bCA$185.3bCA$61.0b9.7x9.9x3.3x
Sat, 15 Oct 2022CA$566.8bCA$185.3bCA$61.0b8.7x9.3x3.1x
Mon, 12 Sep 2022CA$602.9bCA$185.3bCA$61.0b9.3x9.9x3.3x
Wed, 10 Aug 2022CA$594.9bCA$188.4bCA$63.0b9.2x9.4x3.2x
Fri, 08 Jul 2022CA$593.3bCA$188.4bCA$63.0b9x9.4x3.1x
Sun, 05 Jun 2022CA$652.7bCA$188.7bCA$63.0b10.2x10.4x3.5x
Tue, 03 May 2022CA$638.5bCA$184.0bCA$58.9b10.8x10.8x3.5x
Thu, 31 Mar 2022CA$698.8bCA$184.0bCA$58.9b11.4x11.9x3.8x
Sat, 26 Feb 2022CA$691.3bCA$180.6bCA$56.4b12.3x12.2x3.8x
Mon, 24 Jan 2022CA$701.7bCA$180.6bCA$56.4b12.4x12.4x3.9x
Wed, 22 Dec 2021CA$656.6bCA$180.6bCA$56.4b11.5x11.6x3.6x
Fri, 19 Nov 2021CA$655.5bCA$175.2bCA$55.3b11.5x11.8x3.7x
Price to Earnings Ratio

11.8x


Total Market Cap: CA$655.5bTotal Earnings: CA$55.3bTotal Revenue: CA$175.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Banks Industry Price to Earnings3Y Average 11.4x202220232024
Current Industry PE
  • Investors are optimistic on the Canadian Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 14.9x which is higher than its 3-year average PE of 11.4x.
  • 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 declined 4.9% per year over the last three years.
  • Meanwhile revenues for these companies have grown 5.6% 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 Financials industry?

CA Market1.67%
Financials3.28%
Banks1.98%
Diversified Banks1.99%
Regional Banks1.04%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 11.4x.
    • Analysts are expecting annual earnings growth of 7.9%, which is higher than its past year's earnings growth of 1.6% per year.
  • Investors are most pessimistic about the Regional Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 8.9x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 13% over the next 5 years.
  • However this is lower than its past earnings growth rate of 30% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 7.9% 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
TD Toronto-Dominion BankCA$79.282.8%
+CA$3.8b
-5.2%PB1.3x
BMO Bank of MontrealCA$131.053.7%
+CA$3.4b
18.9%PB1.2x
RY Royal Bank of CanadaCA$172.781.4%
+CA$3.3b
45.0%PB2.1x
BNS Bank of Nova ScotiaCA$75.272.4%
+CA$2.2b
25.0%PB1.1x
CM Canadian Imperial Bank of CommerceCA$89.811.8%
+CA$1.5b
68.6%PB1.5x
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Latest News

NA

CA$132.92

National Bank of Canada

7D

0.09%

1Y

47.7%

TD

CA$79.28

Toronto-Dominion Bank

7D

2.8%

1Y

-5.2%

CM

CA$89.81

Canadian Imperial Bank of Commerce

7D

1.8%

1Y

68.6%

BMO

CA$131.05

Bank of Montreal

7D

3.7%

1Y

18.9%

VBNK

CA$23.41

VersaBank

7D

9.3%

1Y

125.7%

EQB

CA$107.77

EQB

7D

2.6%

1Y

46.0%

RY

CA$172.78

Royal Bank of Canada

7D

1.4%

1Y

45.0%

BNS

CA$75.27

Bank of Nova Scotia

7D

2.4%

1Y

25.0%