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Canadian (TSX) Diversified Banks Industry Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies7
  • 7D3.5%
  • 3M12.2%
  • 1Y43.2%
  • YTDn/a

Over the last 7 days, the Diversified Banks industry has risen 3.5%, driven by gains from every company within the industry. This means that the industry has gained 43% over the past year. As for the next few years, earnings are expected to grow by 3.6% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Feb 2026CA$1.0tCA$230.3bCA$67.4b16.4x14.9x4.4x
Wed, 07 Jan 2026CA$1.0tCA$230.3bCA$67.4b15.8x14.9x4.4x
Fri, 05 Dec 2025CA$950.6bCA$228.5bCA$67.5b15.2x14.1x4.2x
Sun, 02 Nov 2025CA$895.9bCA$225.9bCA$65.7b15x13.6x4x
Tue, 30 Sep 2025CA$882.1bCA$225.9bCA$65.7b15.4x13.4x3.9x
Thu, 28 Aug 2025CA$842.2bCA$224.1bCA$62.0b14.2x13.6x3.8x
Sat, 26 Jul 2025CA$790.7bCA$218.2bCA$60.0b14.3x13.2x3.6x
Mon, 23 Jun 2025CA$754.4bCA$218.2bCA$60.0b13.3x12.6x3.5x
Wed, 21 May 2025CA$738.7bCA$206.4bCA$50.7b13.9x14.6x3.6x
Fri, 18 Apr 2025CA$671.1bCA$206.4bCA$50.7b12.6x13.2x3.3x
Sun, 16 Mar 2025CA$684.3bCA$206.4bCA$50.7b13x13.5x3.3x
Tue, 11 Feb 2025CA$713.5bCA$201.3bCA$48.9b14.2x14.6x3.5x
Thu, 09 Jan 2025CA$709.2bCA$201.3bCA$48.9b13.8x14.5x3.5x
Sat, 07 Dec 2024CA$717.4bCA$193.2bCA$49.5b13.9x14.5x3.7x
Mon, 04 Nov 2024CA$686.0bCA$204.1bCA$46.9b13.8x14.6x3.4x
Wed, 02 Oct 2024CA$691.5bCA$204.1bCA$46.9b13.6x14.7x3.4x
Fri, 30 Aug 2024CA$642.1bCA$203.1bCA$46.5b12.5x13.8x3.2x
Sun, 28 Jul 2024CA$630.0bCA$200.4bCA$48.8b12.4x12.9x3.1x
Tue, 25 Jun 2024CA$588.5bCA$200.4bCA$48.8b11.6x12.1x2.9x
Thu, 23 May 2024CA$619.8bCA$196.7bCA$48.6b11.8x12.8x3.2x
Sat, 20 Apr 2024CA$597.1bCA$196.7bCA$48.6b11.6x12.3x3x
Mon, 18 Mar 2024CA$610.2bCA$196.7bCA$48.6b11.5x12.6x3.1x
Wed, 14 Feb 2024CA$577.3bCA$193.2bCA$44.0b11.8x13.1x3x
Fri, 12 Jan 2024CA$599.6bCA$193.2bCA$44.0b12.2x13.6x3.1x
Sun, 10 Dec 2023CA$568.1bCA$193.2bCA$44.0b11.5x12.9x2.9x
Tue, 07 Nov 2023CA$537.8bCA$195.3bCA$50.9b10.4x10.6x2.8x
Thu, 05 Oct 2023CA$538.8bCA$195.3bCA$50.9b10.2x10.6x2.8x
Sat, 02 Sep 2023CA$569.3bCA$195.3bCA$50.9b10.7x11.2x2.9x
Mon, 31 Jul 2023CA$596.2bCA$190.7bCA$51.5b11x11.6x3.1x
Wed, 28 Jun 2023CA$490.8bCA$161.9bCA$43.4b10.6x11.3x3x
Fri, 26 May 2023CA$564.0bCA$190.8bCA$57.0b9.9x9.9x3x
Sun, 23 Apr 2023CA$596.4bCA$190.8bCA$57.0b10.2x10.5x3.1x
Tue, 21 Mar 2023CA$567.0bCA$190.8bCA$57.0b9.5x10x3x
Thu, 16 Feb 2023CA$635.2bCA$190.7bCA$65.2b9.4x9.7x3.3x
Price to Earnings Ratio

9.7x


Total Market Cap: CA$635.2bTotal Earnings: CA$65.2bTotal Revenue: CA$190.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Diversified Banks Industry Price to Earnings3Y Average 12.8x202420252026
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 14.9x which is higher than its 3-year average PE of 12.8x.
  • The 3-year average PS ratio of 3.3x is lower than the industry's current PS ratio of 4.4x.
Past Earnings Growth
  • The earnings for companies in the Diversified Banks industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 6.5% 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 Comparison

How does Canadian Diversified Banks compare with similar industries?

CA Market2.10%
Financials1.99%
Banks3.49%
Diversified Banks3.47%
Regional Banks7.54%
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
TD Toronto-Dominion BankCA$131.993.7%
+CA$7.9b		59.4%PB1.8x
CM Canadian Imperial Bank of CommerceCA$132.105.0%
+CA$5.8b		48.4%PB2x
RY Royal Bank of CanadaCA$232.721.0%
+CA$3.1b		37.8%PB2.6x
BMO Bank of MontrealCA$193.482.2%
+CA$2.9b		36.1%PB1.6x
NA National Bank of CanadaCA$169.073.1%
+CA$1.9b		35.0%PB2x

Latest News

TD
CA$131.99
Toronto-Dominion Bank
7D
3.7%
1Y
59.4%
CM
CA$132.10
Canadian Imperial Bank of Commerce
7D
5.0%
1Y
48.4%

CM: Net Interest Margins And Credit Costs Will Shape Future Earnings Balance

Narrative update The analyst price target for Canadian Imperial Bank of Commerce has been raised, with recent Street research moving targets to C$117, C$123, C$127 and most recently C$138, as analysts point to factors such as net interest margin trends and provisions for credit losses as key drivers in their updated views. Analyst Commentary Recent research shows a series of higher price targets for Canadian Imperial Bank of Commerce, along with mixed views on how sustainable current drivers of earnings might be.
NA
CA$169.07
National Bank of Canada
7D
3.1%
1Y
35.0%
RY
CA$232.72
Royal Bank of Canada
7D
1.0%
1Y
37.8%
LB
CA$40.00
Laurentian Bank of Canada
7D
-0.05%
1Y
46.1%

LB: Pending Takeover And Stable Assumptions Will Guide Future Share Outcome

Narrative Update on Laurentian Bank of Canada Analysts have left their price target for Laurentian Bank of Canada essentially unchanged at about $40.38 per share, reflecting only marginal tweaks to assumptions such as discount rate, long run revenue growth, profit margin, and future P/E, rather than any major shift in the underlying outlook. Analyst Commentary Recent research focus has been on another company, not on Laurentian Bank of Canada, so current Street commentary for Laurentian is limited.
BMO
CA$193.48
Bank of Montreal
7D
2.2%
1Y
36.1%

BMO: Future Returns Will Balance U.S. Credit Recovery With Capital Returns

Narrative update The analyst price target for Bank of Montreal has edged up by about C$0.27 to reflect a slightly higher fair value and a modestly lower discount rate. Analysts are weighing recent target increases from Scotiabank and Canaccord against more cautious Sector Perform and Market Perform views, with price targets around C$181 to C$191.
BNS
CA$104.30
Bank of Nova Scotia
7D
1.5%
1Y
44.0%

BNS: New Leadership And ROE Focus May Support Gradual Multiple Improvement

Narrative Update: Bank of Nova Scotia The analyst price targets for Bank of Nova Scotia have moved higher into the C$98 to C$108 range, as analysts point to encouraging developments under new management. They also see room for the P/E multiple to improve if ROE strengthens from current levels.