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Canadian (TSX) Banks Industry Analysis

UpdatedJul 08, 2026
DataAggregated Company Financials
Companies9
  • 7D0.6%
  • 3M24.9%
  • 1Y65.6%
  • YTD29.5%

In the last week, Banks has been flat. As for the the longer term, the industry is up 66% over the past 12 months. As for the next few years, earnings are expected to grow by 4.7% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Jul 2026CA$1.3tCA$238.8bCA$68.3b19.7x18.5x5.3x
Sat, 06 Jun 2026CA$1.2tCA$238.8bCA$68.3b17.7x17x4.9x
Mon, 04 May 2026CA$1.1tCA$239.6bCA$72.1b17x15.1x4.5x
Wed, 01 Apr 2026CA$956.4bCA$239.6bCA$72.1b15.4x13.3x4x
Fri, 27 Feb 2026CA$1.0tCA$239.2bCA$72.2b15.9x14.3x4.3x
Sun, 25 Jan 2026CA$994.2bCA$231.5bCA$67.7b16.2x14.7x4.3x
Tue, 23 Dec 2025CA$987.0bCA$231.5bCA$67.7b15.4x14.6x4.3x
Thu, 20 Nov 2025CA$908.6bCA$227.2bCA$66.1b14.7x13.8x4x
Sat, 18 Oct 2025CA$883.6bCA$227.2bCA$66.1b15.1x13.4x3.9x
Mon, 15 Sep 2025CA$862.9bCA$227.2bCA$66.1b15x13.1x3.8x
Wed, 13 Aug 2025CA$798.5bCA$219.5bCA$60.4b14.4x13.2x3.6x
Fri, 11 Jul 2025CA$789.8bCA$219.5bCA$60.4b14.4x13.1x3.6x
Sun, 08 Jun 2025CA$756.9bCA$219.5bCA$60.4b13.6x12.5x3.4x
Tue, 06 May 2025CA$711.9bCA$207.7bCA$51.1b13.2x13.9x3.4x
Thu, 03 Apr 2025CA$691.4bCA$207.7bCA$51.1b13.2x13.5x3.3x
Sat, 01 Mar 2025CA$718.7bCA$207.7bCA$51.1b13.9x14.1x3.5x
Mon, 27 Jan 2025CA$732.6bCA$203.6bCA$49.6b15.3x14.8x3.6x
Wed, 25 Dec 2024CA$719.9bCA$203.6bCA$49.6b13x14.5x3.5x
Fri, 22 Nov 2024CA$715.2bCA$206.4bCA$47.7b13.8x15x3.5x
Sun, 20 Oct 2024CA$706.3bCA$206.4bCA$47.7b13x14.8x3.4x
Tue, 17 Sep 2024CA$690.5bCA$206.4bCA$47.7b12.6x14.5x3.3x
Thu, 15 Aug 2024CA$625.1bCA$202.7bCA$49.6b11.8x12.6x3.1x
Sat, 13 Jul 2024CA$621.9bCA$202.7bCA$49.6b11.7x12.5x3.1x
Mon, 10 Jun 2024CA$617.0bCA$202.7bCA$49.6b10.8x12.4x3x
Wed, 08 May 2024CA$609.0bCA$199.0bCA$49.4b10.4x12.3x3.1x
Fri, 05 Apr 2024CA$622.2bCA$199.0bCA$49.4b10.8x12.6x3.1x
Sun, 03 Mar 2024CA$605.3bCA$199.0bCA$49.4b10.5x12.3x3x
Tue, 30 Jan 2024CA$603.3bCA$195.5bCA$44.8b10.9x13.5x3.1x
Thu, 28 Dec 2023CA$616.2bCA$195.5bCA$44.8b10.9x13.8x3.2x
Sat, 25 Nov 2023CA$555.9bCA$197.4bCA$51.6b9.6x10.8x2.8x
Mon, 23 Oct 2023CA$522.2bCA$197.4bCA$51.6b9x10.1x2.6x
Wed, 20 Sep 2023CA$574.4bCA$197.4bCA$51.6b10.1x11.1x2.9x
Fri, 18 Aug 2023CA$576.4bCA$192.8bCA$52.2b9.9x11x3x
Sun, 16 Jul 2023CA$589.8bCA$192.7bCA$52.1b10.4x11.3x3.1x
Price to Earnings Ratio

11.3x


Total Market Cap: CA$589.8bTotal Earnings: CA$52.1bTotal Revenue: CA$192.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Banks Industry Price to Earnings3Y Average 13.4x202420252026
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 18.5x which is higher than its 3-year average PE of 13.4x.
  • The 3-year average PS ratio of 3.5x is lower than the industry's current PS ratio of 5.3x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 9.4% per year over the last three years.
  • Revenues for these companies have grown 7.4% 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 Market0.95%
Financials1.44%
Banks0.64%
Regional Banks1.91%
Diversified Banks0.64%
Industry PE
  • Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 11.8x.
    • Analysts are expecting annual earnings growth of 41.5%, which is higher than its past year's earnings decline of 26.6% 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 13.5x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 42% over the next 5 years.
  • This is better than its past earnings decline of 27% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 4.5% 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$296.881.1%
+CA$4.4b		64.6%PB3.2x
BMO Bank of MontrealCA$253.241.0%
+CA$1.8b		64.2%PB2.1x
NA National Bank of CanadaCA$228.782.2%
+CA$1.7b		63.2%PB2.8x
CM Canadian Imperial Bank of CommerceCA$164.670.8%
+CA$1.2b		67.9%PB2.4x
EQB EQBCA$138.113.8%
+CA$181.1m		34.5%PB1.5x

Latest News

RY
CA$291.62
Royal Bank of Canada
7D
-0.7%
1Y
60.9%
TD
CA$167.86
Toronto-Dominion Bank
7D
-2.7%
1Y
65.5%
VBNK
CA$30.45
VersaBank
7D
-7.7%
1Y
90.9%
CM
CA$161.57
Canadian Imperial Bank of Commerce
7D
-1.1%
1Y
62.3%
EQB
CA$135.04
EQB
7D
1.5%
1Y
31.6%
NA
CA$223.12
National Bank of Canada
7D
-0.4%
1Y
57.9%
BMO
CA$247.07
Bank of Montreal
7D
-1.4%
1Y
59.7%
BNS
CA$120.32
Bank of Nova Scotia
7D
-2.4%
1Y
60.4%
LB
CA$40.28
Laurentian Bank of Canada
7D
0.3%
1Y
28.5%