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Canadian (TSX) Banks Industry Analysis

UpdatedMay 21, 2025
DataAggregated Company Financials
Companies9
  • 7D2.3%
  • 3M2.7%
  • 1Y18.1%
  • YTD3.7%

Over the last 7 days, the Banks industry has risen 2.7%, driven by gains from Royal Bank of Canada of 3.6%. This takes the industry's 12 month performance to a gain of 18%. Looking forward, earnings are forecast to grow by 6.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 21 May 2025CA$742.9bCA$207.7bCA$51.1b13.9x14.5x3.6x
Fri, 18 Apr 2025CA$675.1bCA$207.7bCA$51.1b12.6x13.2x3.3x
Sun, 16 Mar 2025CA$688.4bCA$207.7bCA$51.1b13x13.5x3.3x
Tue, 11 Feb 2025CA$718.3bCA$202.5bCA$49.4b14.2x14.5x3.5x
Thu, 09 Jan 2025CA$719.6bCA$203.6bCA$49.6b14.9x14.5x3.5x
Sat, 07 Dec 2024CA$727.7bCA$195.5bCA$50.2b14.5x14.5x3.7x
Mon, 04 Nov 2024CA$696.2bCA$206.4bCA$47.7b12.9x14.6x3.4x
Wed, 02 Oct 2024CA$701.2bCA$206.4bCA$47.7b12.9x14.7x3.4x
Fri, 30 Aug 2024CA$651.4bCA$205.4bCA$47.3b12x13.8x3.2x
Sun, 28 Jul 2024CA$638.6bCA$202.7bCA$49.6b11.7x12.9x3.2x
Tue, 25 Jun 2024CA$596.3bCA$202.7bCA$49.6b11x12x2.9x
Thu, 23 May 2024CA$626.0bCA$199.0bCA$49.4b10.5x12.7x3.1x
Sat, 20 Apr 2024CA$603.3bCA$199.0bCA$49.4b10.3x12.2x3x
Mon, 18 Mar 2024CA$616.3bCA$199.0bCA$49.4b10.7x12.5x3.1x
Wed, 14 Feb 2024CA$583.7bCA$195.5bCA$44.8b10.8x13x3x
Fri, 12 Jan 2024CA$606.4bCA$195.5bCA$44.8b10.8x13.5x3.1x
Sun, 10 Dec 2023CA$574.4bCA$195.3bCA$44.7b10.3x12.9x2.9x
Tue, 07 Nov 2023CA$543.7bCA$197.4bCA$51.6b9.3x10.5x2.8x
Thu, 05 Oct 2023CA$544.6bCA$197.4bCA$51.6b9.3x10.5x2.8x
Sat, 02 Sep 2023CA$575.5bCA$197.4bCA$51.6b10.2x11.1x2.9x
Mon, 31 Jul 2023CA$601.9bCA$192.7bCA$52.1b10.8x11.5x3.1x
Wed, 28 Jun 2023CA$496.0bCA$163.9bCA$44.0b10.2x11.3x3x
Fri, 26 May 2023CA$569.1bCA$192.7bCA$57.6b9.1x9.9x3x
Sun, 23 Apr 2023CA$601.2bCA$192.7bCA$57.6b9.8x10.4x3.1x
Tue, 21 Mar 2023CA$571.5bCA$192.7bCA$57.6b9.3x9.9x3x
Thu, 16 Feb 2023CA$638.2bCA$191.8bCA$65.6b9.4x9.7x3.3x
Sat, 14 Jan 2023CA$612.0bCA$191.8bCA$65.6b8.8x9.3x3.2x
Mon, 12 Dec 2022CA$600.8bCA$191.8bCA$65.6b8.8x9.2x3.1x
Wed, 09 Nov 2022CA$591.5bCA$185.3bCA$61.0b9.6x9.7x3.2x
Fri, 07 Oct 2022CA$571.0bCA$185.3bCA$61.0b8.9x9.4x3.1x
Sun, 04 Sep 2022CA$582.9bCA$185.3bCA$61.0b8.9x9.6x3.1x
Tue, 02 Aug 2022CA$597.1bCA$188.4bCA$63.0b9.3x9.5x3.2x
Thu, 30 Jun 2022CA$594.7bCA$188.4bCA$63.0b9.2x9.4x3.2x
Sat, 28 May 2022CA$650.5bCA$188.4bCA$62.9b10.2x10.3x3.5x
Price to Earnings Ratio

10.3x


Total Market Cap: CA$650.5bTotal Earnings: CA$62.9bTotal Revenue: CA$188.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Banks Industry Price to Earnings3Y Average 11.8x202320242025
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 14.5x which is higher than its 3-year average PE of 11.8x.
  • The 3-year average PS ratio of 3.2x is lower than the industry's current PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have declined 6.7% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.3% 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 Market1.66%
Financials1.76%
Banks2.29%
Diversified Banks2.32%
Regional Banks-1.97%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 11.8x.
    • Analysts are expecting annual earnings growth of 6.4%, which is lower than the prior year's growth of 17.2% 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 14% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 6.4% 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
RY Royal Bank of CanadaCA$175.823.6%
+CA$8.5b		21.6%PB2x
CM Canadian Imperial Bank of CommerceCA$92.912.9%
+CA$2.4b		38.6%PB1.5x
TD Toronto-Dominion BankCA$90.171.2%
+CA$1.8b		16.2%PB1.4x
BNS Bank of Nova ScotiaCA$71.881.8%
+CA$1.6b		8.6%PB1.1x
BMO Bank of MontrealCA$144.111.5%
+CA$1.5b		11.6%PB1.2x
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TD

CA$90.17

Toronto-Dominion Bank

7D

1.2%

1Y

16.2%

CM

CA$92.91

Canadian Imperial Bank of Commerce

7D

2.9%

1Y

38.6%

EQB

CA$95.10

EQB

7D

-2.3%

1Y

14.8%

RY

CA$175.82

Royal Bank of Canada

7D

3.6%

1Y

21.6%

BNS

CA$71.88

Bank of Nova Scotia

7D

1.8%

1Y

8.6%

NA

CA$128.32

National Bank of Canada

7D

1.7%

1Y

11.2%

BMO

CA$144.11

Bank of Montreal

7D

1.5%

1Y

11.6%

VBNK

CA$16.18

VersaBank

7D

0.6%

1Y

24.5%

LB

CA$27.77

Laurentian Bank of Canada

7D

0.4%

1Y

2.0%