Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Banks Industry Analysis

UpdatedSep 16, 2026
DataAggregated Company Financials
Companies9
  • 7D-0.3%
  • 3M0.9%
  • 1Y44.4%
  • YTD25.8%

Over the last 7 days, the Banks industry has remained flat. As for the the longer term, the industry is up 44% over the past 12 months. Earnings are forecast to grow by 6.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 16 Sep 2026CA$1.2tCA$245.3bCA$70.3b17.7x17.5x5x
Fri, 14 Aug 2026CA$1.3tCA$238.8bCA$68.3b19.8x18.7x5.4x
Sun, 12 Jul 2026CA$1.3tCA$238.8bCA$68.3b19.7x18.7x5.3x
Tue, 09 Jun 2026CA$1.2tCA$238.8bCA$68.3b17.7x17x4.9x
Thu, 07 May 2026CA$1.1tCA$239.6bCA$72.1b17.3x14.9x4.5x
Sat, 04 Apr 2026CA$993.9bCA$239.6bCA$72.1b15.5x13.8x4.1x
Mon, 02 Mar 2026CA$1.0tCA$239.2bCA$72.2b15.5x14x4.2x
Wed, 28 Jan 2026CA$987.4bCA$231.5bCA$67.7b16.1x14.6x4.3x
Fri, 26 Dec 2025CA$990.3bCA$231.5bCA$67.7b15.4x14.6x4.3x
Sun, 23 Nov 2025CA$912.3bCA$227.2bCA$66.1b14.7x13.8x4x
Tue, 21 Oct 2025CA$890.4bCA$227.2bCA$66.1b15.2x13.5x3.9x
Thu, 18 Sep 2025CA$871.6bCA$227.2bCA$66.1b15.1x13.2x3.8x
Sat, 16 Aug 2025CA$814.5bCA$219.5bCA$60.4b14.4x13.5x3.7x
Mon, 14 Jul 2025CA$787.7bCA$219.5bCA$60.4b14.3x13x3.6x
Wed, 11 Jun 2025CA$756.5bCA$219.5bCA$60.4b13.6x12.5x3.4x
Fri, 09 May 2025CA$710.2bCA$207.7bCA$51.1b13.3x13.9x3.4x
Sun, 06 Apr 2025CA$665.5bCA$207.7bCA$51.1b12.1x13x3.2x
Tue, 04 Mar 2025CA$726.4bCA$207.7bCA$51.1b13.8x14.2x3.5x
Thu, 30 Jan 2025CA$736.3bCA$203.6bCA$49.6b15.3x14.8x3.6x
Sat, 28 Dec 2024CA$719.9bCA$203.6bCA$49.6b13.1x14.5x3.5x
Mon, 25 Nov 2024CA$724.1bCA$206.4bCA$47.7b13.8x15.2x3.5x
Wed, 23 Oct 2024CA$703.3bCA$206.4bCA$47.7b12.8x14.8x3.4x
Fri, 20 Sep 2024CA$691.9bCA$206.4bCA$47.7b12.6x14.5x3.4x
Sun, 18 Aug 2024CA$640.7bCA$202.7bCA$49.6b12.1x12.9x3.2x
Tue, 16 Jul 2024CA$625.9bCA$202.7bCA$49.6b11.6x12.6x3.1x
Thu, 13 Jun 2024CA$608.7bCA$202.7bCA$49.6b11.2x12.3x3x
Sat, 11 May 2024CA$617.5bCA$199.0bCA$49.4b10.7x12.5x3.1x
Mon, 08 Apr 2024CA$627.7bCA$199.0bCA$49.4b10.8x12.7x3.2x
Wed, 06 Mar 2024CA$606.0bCA$199.0bCA$49.4b10.7x12.3x3x
Fri, 02 Feb 2024CA$597.1bCA$195.5bCA$44.8b11x13.3x3.1x
Sun, 31 Dec 2023CA$616.7bCA$195.5bCA$44.8b11x13.8x3.2x
Tue, 28 Nov 2023CA$556.9bCA$197.4bCA$51.6b9.6x10.8x2.8x
Thu, 26 Oct 2023CA$513.9bCA$197.4bCA$51.6b8.9x10x2.6x
Sat, 23 Sep 2023CA$563.9bCA$197.4bCA$51.6b9.9x10.9x2.9x
Price to Earnings Ratio

10.9x


Total Market Cap: CA$563.9bTotal Earnings: CA$51.6bTotal Revenue: CA$197.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Banks Industry Price to Earnings3Y Average 13.9x202420252026
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 17.5x which is higher than its 3-year average PE of 13.9x.
  • The 3-year average PS ratio of 3.7x is lower than the industry's current PS ratio of 5.0x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 11% per year over the last three years.
  • Revenues for these companies have grown 7.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Canadian Financials industry?

CA Market-1.71%
Financials-0.60%
Banks-0.32%
Diversified Banks-0.32%
Regional Banks-1.73%
Industry PE
  • Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 18.0x.
    • Analysts are expecting annual earnings growth of 76.2%, which is higher than its past year's earnings growth of 18.5% per year.
  • Investors are most pessimistic about the Diversified Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 13.9x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 76% over the next 5 years.
  • This is better than its past earnings growth rate of 18% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 5.8% 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$168.991.7%
+CA$4.6b		57.8%PB2.2x
BNS Bank of Nova ScotiaCA$129.881.5%
+CA$2.3b		45.7%PB1.8x
BMO Bank of MontrealCA$241.690.09%
+CA$146.0m		35.3%PB2x
VBNK VersaBankCA$30.851.3%
+CA$12.6m		82.8%PB1.8x
LB Laurentian Bank of CanadaCA$40.630.1%
+CA$2.2m		22.0%PB0.7x

Latest News

VBNK
CA$30.85
VersaBank
7D
1.3%
1Y
82.8%
BNS
CA$129.88
Bank of Nova Scotia
7D
1.5%
1Y
45.7%
RY
CA$284.21
Royal Bank of Canada
7D
-1.4%
1Y
41.4%
TD
CA$168.99
Toronto-Dominion Bank
7D
1.7%
1Y
57.8%
BMO
CA$241.69
Bank of Montreal
7D
0.09%
1Y
35.3%
CM
CA$157.81
Canadian Imperial Bank of Commerce
7D
-2.1%
1Y
43.0%
NA
CA$208.67
National Bank of Canada
7D
-2.8%
1Y
38.8%
Narrative Update • Sep 03

NA: Future Returns Will Reflect Capital Markets Strength Dividend Support And Measured Repricing

Analysts have lifted the National Bank of Canada fair value estimate from CA$213.38 to about CA$223.92, citing recent price target increases that reference relatively stable earnings expectations, strong capital markets contributions and ongoing capital deployment opportunities. Analyst Commentary Recent research on National Bank of Canada gives you a mix of optimism and caution to weigh as you think about valuation, execution and potential growth paths.
LB
CA$40.63
Laurentian Bank of Canada
7D
0.1%
1Y
22.0%
EQB
CA$126.50
EQB
7D
-2.3%
1Y
38.9%