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Canadian (TSX) Diversified Banks Industry Analysis

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies7
  • 7D0.8%
  • 3M9.3%
  • 1Y56.9%
  • YTDn/a

Over the last 7 days, the Diversified Banks industry has remained flat. As for the the longer term, the industry is up 57% over the past 12 months. Earnings are forecast to grow by 2.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 11 May 2026CA$1.1tCA$238.4bCA$71.9b16.9x15.2x4.6x
Wed, 08 Apr 2026CA$995.6bCA$238.4bCA$71.9b15.7x13.9x4.2x
Fri, 06 Mar 2026CA$1.0tCA$238.4bCA$71.9b15.3x14.1x4.2x
Sun, 01 Feb 2026CA$970.0bCA$230.3bCA$67.4b16x14.4x4.2x
Tue, 30 Dec 2025CA$988.0bCA$230.3bCA$67.4b15.5x14.7x4.3x
Thu, 27 Nov 2025CA$921.3bCA$225.9bCA$65.7b15.1x14x4.1x
Sat, 25 Oct 2025CA$889.3bCA$225.9bCA$65.7b15.3x13.5x3.9x
Mon, 22 Sep 2025CA$877.0bCA$225.9bCA$65.7b15.3x13.3x3.9x
Wed, 20 Aug 2025CA$807.7bCA$218.2bCA$60.0b14.4x13.5x3.7x
Fri, 18 Jul 2025CA$785.2bCA$218.2bCA$60.0b14.5x13.1x3.6x
Sun, 15 Jun 2025CA$748.2bCA$218.2bCA$60.0b13.4x12.5x3.4x
Tue, 13 May 2025CA$712.4bCA$206.4bCA$50.7b13.5x14.1x3.5x
Thu, 10 Apr 2025CA$643.9bCA$206.4bCA$50.7b12.6x12.7x3.1x
Sat, 08 Mar 2025CA$690.3bCA$206.4bCA$50.7b13.4x13.6x3.3x
Mon, 03 Feb 2025CA$723.7bCA$201.3bCA$48.9b13.9x14.8x3.6x
Wed, 01 Jan 2025CA$707.7bCA$201.3bCA$48.9b13.9x14.5x3.5x
Fri, 29 Nov 2024CA$716.6bCA$204.1bCA$46.9b14.7x15.3x3.5x
Sun, 27 Oct 2024CA$689.3bCA$204.1bCA$46.9b13.9x14.7x3.4x
Tue, 24 Sep 2024CA$690.2bCA$204.1bCA$46.9b13.5x14.7x3.4x
Thu, 22 Aug 2024CA$634.3bCA$200.4bCA$48.8b12.7x13x3.2x
Sat, 20 Jul 2024CA$627.1bCA$200.4bCA$48.8b12.2x12.8x3.1x
Mon, 17 Jun 2024CA$594.1bCA$200.4bCA$48.8b11.6x12.2x3x
Wed, 15 May 2024CA$616.9bCA$196.7bCA$48.6b11.9x12.7x3.1x
Fri, 12 Apr 2024CA$613.9bCA$196.7bCA$48.6b11.8x12.6x3.1x
Sun, 10 Mar 2024CA$609.2bCA$196.7bCA$48.6b11.4x12.5x3.1x
Tue, 06 Feb 2024CA$584.9bCA$193.2bCA$44.0b12x13.3x3x
Thu, 04 Jan 2024CA$604.2bCA$193.2bCA$44.0b12.4x13.7x3.1x
Sat, 02 Dec 2023CA$558.4bCA$193.7bCA$46.9b11.1x11.9x2.9x
Mon, 30 Oct 2023CA$504.8bCA$195.3bCA$50.9b9.7x9.9x2.6x
Wed, 27 Sep 2023CA$552.2bCA$195.3bCA$50.9b10.5x10.8x2.8x
Fri, 25 Aug 2023CA$559.5bCA$190.7bCA$51.5b10.6x10.9x2.9x
Sun, 23 Jul 2023CA$599.7bCA$190.7bCA$51.5b11x11.6x3.1x
Tue, 20 Jun 2023CA$574.5bCA$190.7bCA$51.5b10.5x11.2x3x
Thu, 18 May 2023CA$581.1bCA$190.8bCA$57.0b10x10.2x3x
Price to Earnings Ratio

10.2x


Total Market Cap: CA$581.1bTotal Earnings: CA$57.0bTotal Revenue: CA$190.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Diversified Banks Industry Price to Earnings3Y Average 13.1x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Diversified Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 15.2x which is higher than its 3-year average PE of 13.1x.
  • The 3-year average PS ratio of 3.4x is lower than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Diversified Banks industry have grown 8.0% per year over the last three years.
  • Revenues for these companies have grown 7.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Canadian Diversified Banks compare with similar industries?

CA Market0.99%
Financials1.42%
Banks0.80%
Diversified Banks0.82%
Regional Banks-1.41%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
RY Royal Bank of CanadaCA$247.641.4%
+CA$4.7b		48.4%PB2.7x
TD Toronto-Dominion BankCA$147.130.5%
+CA$1.3b		67.7%PB2x
BNS Bank of Nova ScotiaCA$106.630.9%
+CA$1.2b		52.9%PB1.5x
BMO Bank of MontrealCA$208.290.7%
+CA$1.0b		50.9%PB1.7x
NA National Bank of CanadaCA$206.670.8%
+CA$604.8m		66.2%PB2.5x

Latest News

TD
CA$147.13
Toronto-Dominion Bank
7D
0.5%
1Y
67.7%
CM
CA$150.96
Canadian Imperial Bank of Commerce
7D
-0.4%
1Y
70.0%
BMO
CA$208.29
Bank of Montreal
7D
0.7%
1Y
50.9%
RY
CA$247.64
Royal Bank of Canada
7D
1.4%
1Y
48.4%
NA
CA$206.67
National Bank of Canada
7D
0.8%
1Y
66.2%
Narrative Update • Apr 27

NA: Future Returns Will Reflect Buybacks And Easing Mortgage Renewal Concerns

Analysts have nudged the fair value anchor higher for National Bank of Canada as Street price targets cluster in the CA$179 to CA$202 range, citing Q1 results modestly above consensus, refreshed FY26 and FY27 estimates for Canadian banks, and reduced concern around mortgage renewals. Analyst Commentary Street research on National Bank of Canada has tilted more constructive, with a series of higher price targets clustering in the CA$179 to CA$202 band.
BNS
CA$106.63
Bank of Nova Scotia
7D
0.9%
1Y
52.9%
Narrative Update • Apr 26

BNS: Future P/E Discount Will Reflect Modest ROE And Peer Execution Concerns

The Analyst Price Target for Bank of Nova Scotia has been adjusted to CA$106.57. Analysts point to a consistent fair value estimate alongside updated assumptions for discount rate, revenue growth, profit margin and future P/E, reflecting recent research that highlights mixed views on return on equity and the bank's relative positioning versus peers.
LB
CA$40.35
Laurentian Bank of Canada
7D
0.2%
1Y
48.7%
Narrative Update • Apr 10

LB: Stable Outlook Where Execution On Earnings Quality Will Drive Future Repricing

Narrative Update on Laurentian Bank of Canada Analysts have adjusted their CA$ price targets for Laurentian Bank of Canada, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E, while keeping their overall fair value view broadly in line with prior estimates. Analyst Commentary Recent Street research updates have focused on adjusting price targets and sharpening expectations around valuation, growth and execution, using other financial services and infrastructure names as reference points.