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Canadian (TSX) Banks Industry Analysis

UpdatedSep 21, 2025
DataAggregated Company Financials
Companies9
  • 7D2.1%
  • 3M16.4%
  • 1Y26.9%
  • YTD24.1%

Over the last 7 days, the Banks industry has risen 2.1%, driven by gains from every company within the industry. This takes the industry's 12 month performance to a gain of 27%. As for the next few years, earnings are expected to grow by 1.9% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 21 Sep 2025CA$881.1bCA$227.2bCA$66.1b15.3x13.3x3.9x
Tue, 19 Aug 2025CA$813.1bCA$219.5bCA$60.4b14.4x13.5x3.7x
Thu, 17 Jul 2025CA$784.8bCA$219.5bCA$60.4b14.3x13x3.6x
Sat, 14 Jun 2025CA$756.8bCA$219.5bCA$60.4b13.4x12.5x3.4x
Mon, 12 May 2025CA$716.5bCA$207.7bCA$51.1b13.3x14x3.5x
Wed, 09 Apr 2025CA$651.0bCA$207.7bCA$51.1b11.9x12.7x3.1x
Fri, 07 Mar 2025CA$703.0bCA$207.7bCA$51.1b13.2x13.8x3.4x
Sun, 02 Feb 2025CA$734.2bCA$203.6bCA$49.6b15.2x14.8x3.6x
Tue, 31 Dec 2024CA$720.7bCA$203.6bCA$49.6b13.1x14.5x3.5x
Thu, 28 Nov 2024CA$724.1bCA$206.4bCA$47.7b14.2x15.2x3.5x
Sat, 26 Oct 2024CA$702.8bCA$206.4bCA$47.7b12.8x14.7x3.4x
Mon, 23 Sep 2024CA$699.8bCA$206.4bCA$47.7b12.9x14.7x3.4x
Wed, 21 Aug 2024CA$643.8bCA$202.7bCA$49.6b12.1x13x3.2x
Fri, 19 Jul 2024CA$635.5bCA$202.7bCA$49.6b11.5x12.8x3.1x
Sun, 16 Jun 2024CA$601.9bCA$202.7bCA$49.6b10.9x12.1x3x
Tue, 14 May 2024CA$623.2bCA$199.0bCA$49.4b10.7x12.6x3.1x
Thu, 11 Apr 2024CA$630.0bCA$199.0bCA$49.4b10.7x12.8x3.2x
Sat, 09 Mar 2024CA$615.5bCA$199.0bCA$49.4b10.8x12.5x3.1x
Mon, 05 Feb 2024CA$596.1bCA$195.5bCA$44.8b10.9x13.3x3x
Wed, 03 Jan 2024CA$614.6bCA$195.5bCA$44.8b10.8x13.7x3.1x
Fri, 01 Dec 2023CA$554.5bCA$195.9bCA$47.8b10.1x11.6x2.8x
Sun, 29 Oct 2023CA$513.2bCA$197.4bCA$51.6b8.9x9.9x2.6x
Tue, 26 Sep 2023CA$564.4bCA$197.4bCA$51.6b9.8x10.9x2.9x
Thu, 24 Aug 2023CA$567.3bCA$192.8bCA$52.2b9.9x10.9x2.9x
Sat, 22 Jul 2023CA$605.5bCA$192.7bCA$52.1b10.5x11.6x3.1x
Mon, 19 Jun 2023CA$580.2bCA$192.7bCA$52.1b10.1x11.1x3x
Wed, 17 May 2023CA$581.8bCA$192.7bCA$57.6b9x10.1x3x
Fri, 14 Apr 2023CA$590.0bCA$192.7bCA$57.6b9.6x10.2x3.1x
Sun, 12 Mar 2023CA$593.0bCA$191.9bCA$57.3b10.2x10.3x3.1x
Tue, 07 Feb 2023CA$633.3bCA$191.8bCA$65.6b9.2x9.7x3.3x
Thu, 05 Jan 2023CA$593.7bCA$191.8bCA$65.6b8.4x9.1x3.1x
Sat, 03 Dec 2022CA$616.2bCA$191.8bCA$65.4b9.8x9.4x3.2x
Mon, 31 Oct 2022CA$589.0bCA$185.3bCA$61.0b9.3x9.7x3.2x
Wed, 28 Sep 2022CA$571.4bCA$185.3bCA$61.0b8.7x9.4x3.1x
Price to Earnings Ratio

9.4x


Total Market Cap: CA$571.4bTotal Earnings: CA$61.0bTotal Revenue: CA$185.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Banks Industry Price to Earnings3Y Average 12.2x202320242025
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 12.2x.
  • The 3-year average PS ratio of 3.2x is lower than the industry's current PS ratio of 3.9x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 2.7% per year over the last three years.
  • Revenues for these companies have grown 7.0% 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 Market1.10%
Financials1.94%
Banks2.11%
Regional Banks2.52%
Diversified Banks2.11%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry, which is trading close to its 3-year average PE ratio of 12.2x.
    • Analysts are expecting annual earnings growth of 1.8%, which is lower than the prior year's growth of 20.1% per year.
  • Investors are most pessimistic about the Regional Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 9.5x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 18% over the next 5 years.
  • This is better than its past earnings decline of 26% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings growth to stay flat 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$203.141.8%
+CA$4.9b		22.9%PB2.3x
TD Toronto-Dominion BankCA$108.391.9%
+CA$3.5b		23.8%PB1.5x
BMO Bank of MontrealCA$179.872.8%
+CA$3.5b		47.4%PB1.5x
CM Canadian Imperial Bank of CommerceCA$112.532.7%
+CA$2.7b		34.5%PB1.7x
BNS Bank of Nova ScotiaCA$89.602.1%
+CA$2.3b		22.2%PB1.3x

Latest News

BMO
CA$179.87
Bank of Montreal
7D
2.8%
1Y
47.4%
TD
CA$108.39
Toronto-Dominion Bank
7D
1.9%
1Y
23.8%
CM
CA$112.53
Canadian Imperial Bank of Commerce
7D
2.7%
1Y
34.5%
VBNK
CA$17.43
VersaBank
7D
6.0%
1Y
-3.4%
EQB
CA$93.05
EQB
7D
2.0%
1Y
-9.7%
BNS
CA$89.60
Bank of Nova Scotia
7D
2.1%
1Y
22.2%
RY
CA$203.14
Royal Bank of Canada
7D
1.8%
1Y
22.9%
NA
CA$152.00
National Bank of Canada
7D
1.7%
1Y
19.5%