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Canadian (TSX) Banks Industry Analysis

UpdatedMay 30, 2025
DataAggregated Company Financials
Companies9
  • 7D1.0%
  • 3M3.9%
  • 1Y20.9%
  • YTD5.1%

Over the last 7 days, the Banks industry has risen 2.8%, driven by gains from Toronto-Dominion Bank of 2.3%. This takes the industry's 12 month performance to a gain of 25%. Looking forward, earnings are forecast to grow by 3.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 30 May 2025CA$756.9bCA$219.5bCA$60.4b13.6x12.5x3.4x
Sun, 27 Apr 2025CA$693.0bCA$207.7bCA$51.1b12.8x13.6x3.3x
Tue, 25 Mar 2025CA$694.6bCA$207.7bCA$51.1b13.3x13.6x3.3x
Thu, 20 Feb 2025CA$718.9bCA$202.5bCA$49.4b14.2x14.6x3.5x
Sat, 18 Jan 2025CA$721.4bCA$203.6bCA$49.6b15.1x14.5x3.5x
Mon, 16 Dec 2024CA$730.6bCA$195.5bCA$50.2b14.7x14.6x3.7x
Wed, 13 Nov 2024CA$713.4bCA$206.4bCA$47.7b13.2x15x3.5x
Fri, 11 Oct 2024CA$700.3bCA$206.4bCA$47.7b12.5x14.7x3.4x
Sun, 08 Sep 2024CA$669.8bCA$206.4bCA$47.7b12x14.1x3.2x
Tue, 06 Aug 2024CA$620.7bCA$202.7bCA$49.6b11.6x12.5x3.1x
Thu, 04 Jul 2024CA$609.3bCA$202.7bCA$49.6b11.3x12.3x3x
Sat, 01 Jun 2024CA$617.2bCA$201.0bCA$49.5b10.7x12.5x3.1x
Mon, 29 Apr 2024CA$607.9bCA$199.0bCA$49.4b10.3x12.3x3.1x
Wed, 27 Mar 2024CA$622.6bCA$199.0bCA$49.4b10.9x12.6x3.1x
Fri, 23 Feb 2024CA$599.4bCA$195.5bCA$44.8b11.1x13.4x3.1x
Sun, 21 Jan 2024CA$595.3bCA$195.5bCA$44.8b10.7x13.3x3x
Tue, 19 Dec 2023CA$596.7bCA$195.5bCA$44.8b10.7x13.3x3.1x
Thu, 16 Nov 2023CA$556.4bCA$197.4bCA$51.6b9.6x10.8x2.8x
Sat, 14 Oct 2023CA$539.4bCA$197.4bCA$51.6b9.3x10.4x2.7x
Mon, 11 Sep 2023CA$560.5bCA$197.4bCA$51.6b9.9x10.9x2.8x
Wed, 09 Aug 2023CA$589.8bCA$192.8bCA$52.2b10.2x11.3x3.1x
Fri, 07 Jul 2023CA$575.0bCA$192.7bCA$52.1b9.9x11x3x
Sun, 04 Jun 2023CA$572.0bCA$192.7bCA$52.1b10x11x3x
Tue, 02 May 2023CA$594.8bCA$192.7bCA$57.6b9.6x10.3x3.1x
Thu, 30 Mar 2023CA$579.4bCA$192.7bCA$57.6b9.6x10.1x3x
Sat, 25 Feb 2023CA$626.9bCA$191.8bCA$65.6b9.4x9.6x3.3x
Mon, 23 Jan 2023CA$613.8bCA$191.8bCA$65.6b8.7x9.4x3.2x
Wed, 21 Dec 2022CA$583.4bCA$191.8bCA$65.6b8.3x8.9x3x
Fri, 18 Nov 2022CA$608.0bCA$185.3bCA$61.0b9.8x10x3.3x
Sun, 16 Oct 2022CA$566.8bCA$185.3bCA$61.0b8.7x9.3x3.1x
Tue, 13 Sep 2022CA$608.7bCA$185.3bCA$61.0b9.4x10x3.3x
Thu, 11 Aug 2022CA$605.9bCA$188.4bCA$63.0b9.4x9.6x3.2x
Sat, 09 Jul 2022CA$595.4bCA$188.4bCA$63.0b9x9.5x3.2x
Mon, 06 Jun 2022CA$652.7bCA$188.7bCA$63.0b10.2x10.4x3.5x
Price to Earnings Ratio

10.4x


Total Market Cap: CA$652.7bTotal Earnings: CA$63.0bTotal Revenue: CA$188.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Banks Industry Price to Earnings3Y Average 11.8x202320242025
Current Industry PE
  • Investors are relatively neutral on the Canadian Banks industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 11.8x.
  • The industry is trading close to its 3-year average PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 4.8% 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 Trends

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

CA Market1.13%
Financials0.50%
Banks0.98%
Diversified Banks1.00%
Regional Banks-2.45%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry, which is trading close to its 3-year average PE ratio of 11.9x.
    • Analysts are expecting annual earnings growth of 3.4%, which is lower than the prior year's growth of 19.1% 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 13% 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 3.4% 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
TD Toronto-Dominion BankCA$94.922.3%
+CA$3.6b		26.3%PB1.3x
BNS Bank of Nova ScotiaCA$73.542.8%
+CA$2.5b		14.7%PB1.1x
BMO Bank of MontrealCA$147.792.8%
+CA$2.1b		23.3%PB1.3x
NA National Bank of CanadaCA$133.574.1%
+CA$2.1b		15.1%PB1.7x
CM Canadian Imperial Bank of CommerceCA$93.710.9%
+CA$808.4m		35.4%PB1.6x
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Latest News

RY

CA$172.40

Royal Bank of Canada

7D

-1.7%

1Y

16.3%

CM

CA$93.71

Canadian Imperial Bank of Commerce

7D

0.9%

1Y

35.4%

NA

CA$133.57

National Bank of Canada

7D

4.1%

1Y

15.1%

BNS

CA$73.54

Bank of Nova Scotia

7D

2.8%

1Y

14.7%

BMO

CA$147.79

Bank of Montreal

7D

2.8%

1Y

23.3%

EQB

CA$91.80

EQB

7D

-3.0%

1Y

2.6%

TD

CA$94.92

Toronto-Dominion Bank

7D

2.3%

1Y

26.3%

VBNK

CA$16.23

VersaBank

7D

1.4%

1Y

20.8%

LB

CA$28.83

Laurentian Bank of Canada

7D

3.0%

1Y

8.0%