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Canadian (TSX) Capital Markets Industry Analysis

UpdatedApr 16, 2026
DataAggregated Company Financials
Companies168
  • 7D7.8%
  • 3M-3.3%
  • 1Y22.8%
  • YTD-1.8%

The Capital Markets industry is up 7.8% in the last week, with Brookfield up 11%. During this same period, the AGF Management underperformed, falling 16%. This means that the industry has gained 18% over the past year. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

Has the Canadian Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Apr 2026CA$314.3bCA$127.3bCA$8.9b9.1x35.5x2.5x
Sat, 14 Mar 2026CA$280.0bCA$127.4bCA$8.6b9.1x32.7x2.2x
Mon, 09 Feb 2026CA$313.8bCA$124.6bCA$7.4b8.8x42.4x2.5x
Wed, 07 Jan 2026CA$339.6bCA$125.3bCA$7.7b9.6x44.3x2.7x
Fri, 05 Dec 2025CA$330.2bCA$126.6bCA$7.7b8.8x42.6x2.6x
Sun, 02 Nov 2025CA$336.9bCA$128.8bCA$7.4b9.2x45.8x2.6x
Tue, 30 Sep 2025CA$341.0bCA$127.9bCA$7.3b10.3x46.9x2.7x
Thu, 28 Aug 2025CA$334.6bCA$126.8bCA$7.2b12.4x46.4x2.6x
Sat, 26 Jul 2025CA$340.6bCA$131.9bCA$6.4b12.4x53.4x2.6x
Mon, 23 Jun 2025CA$302.6bCA$132.2bCA$6.4b11.3x47.4x2.3x
Wed, 21 May 2025CA$317.4bCA$133.7bCA$6.6b11.4x48.4x2.4x
Fri, 18 Apr 2025CA$277.6bCA$134.9bCA$4.3b12.1x64.1x2.1x
Sun, 16 Mar 2025CA$280.0bCA$139.6bCA$5.0b11.2x55.6x2x
Tue, 11 Feb 2025CA$333.5bCA$149.8bCA$5.8b12.5x57.6x2.2x
Thu, 09 Jan 2025CA$226.1bCA$150.2bCA$5.7b12.3x39.7x1.5x
Sat, 07 Dec 2024CA$232.1bCA$148.0bCA$5.6b12.5x41.2x1.6x
Mon, 04 Nov 2024CA$208.2bCA$153.2bCA$5.5b13.3x38.2x1.4x
Wed, 02 Oct 2024CA$194.2bCA$148.6bCA$5.4b10.5x35.8x1.3x
Fri, 30 Aug 2024CA$181.8bCA$148.6bCA$5.4b10.7x33.5x1.2x
Sun, 28 Jul 2024CA$180.9bCA$151.9bCA$5.4b9.1x33.6x1.2x
Tue, 25 Jun 2024CA$159.4bCA$150.2bCA$5.3b9.8x30x1.1x
Thu, 23 May 2024CA$167.9bCA$150.5bCA$5.3b10.9x31.7x1.1x
Sat, 20 Apr 2024CA$150.3bCA$157.3bCA$7.3b11x20.5x1x
Mon, 18 Mar 2024CA$156.4bCA$156.5bCA$7.9b11.7x19.7x1x
Wed, 14 Feb 2024CA$150.7bCA$157.1bCA$8.0b8.6x18.8x1x
Fri, 12 Jan 2024CA$149.2bCA$155.1bCA$6.5b9x22.9x1x
Sun, 10 Dec 2023CA$137.3bCA$157.1bCA$6.6b8.7x20.9x0.9x
Tue, 07 Nov 2023CA$130.1bCA$153.8bCA$5.0b10.2x25.8x0.8x
Thu, 05 Oct 2023CA$123.2bCA$153.8bCA$4.9b10.6x25.4x0.8x
Sat, 02 Sep 2023CA$137.3bCA$152.4bCA$4.8b10.8x28.7x0.9x
Mon, 31 Jul 2023CA$137.8bCA$149.0bCA$5.8b9.5x23.8x0.9x
Wed, 28 Jun 2023CA$128.8bCA$148.1bCA$5.7b9.5x22.6x0.9x
Fri, 26 May 2023CA$126.0bCA$152.7bCA$6.1b8.5x20.6x0.8x
Sun, 23 Apr 2023CA$133.9bCA$149.9bCA$8.2b8.3x16.3x0.9x
Price to Earnings Ratio

16.3x


Total Market Cap: CA$133.9bTotal Earnings: CA$8.2bTotal Revenue: CA$149.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Capital Markets Industry Price to Earnings3Y Average 35.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Capital Markets 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 35.9x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 2.6% per year over the last three years.
  • Meanwhile revenues for these companies have declined 5.2% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

CA Market1.73%
Financials4.91%
Capital Markets7.79%
Asset Management7.84%
Financial Exchanges and Data7.25%
Investment Banking and Brokerage3.03%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry which is trading above its 3-year average PE ratio of 31.4x.
    • Analysts are expecting annual earnings growth of 18.8%, which is higher than its past year's earnings decline of 13.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Financial Exchanges and Data industry, expecting annual earnings growth of 19% over the next 5 years.
  • This is better than its past earnings decline of 14% per year.
  • In contrast, the Asset Management industry is expected to see its earnings grow by 11% 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
BN BrookfieldCA$63.939.8%
+CA$12.8b		41.6%PE91.4x
BAM Brookfield Asset ManagementCA$67.097.2%
+CA$7.2b		0.8%PE31.6x
IGM IGM FinancialCA$72.956.9%
+CA$1.0b		71.5%PE15.5x
X TMX GroupCA$53.627.3%
+CA$957.6m		3.9%PE35.7x
ONEX OnexCA$113.4610.0%
+CA$784.0m		23.7%PE10.2x

Latest News

ONEX
CA$113.46
Onex
7D
10.0%
1Y
23.7%
AGF.B
CA$15.93
AGF Management
7D
-23.2%
1Y
73.3%
SLT.U
US$5.00
Saltire Capital
7D
-9.1%
1Y
-28.6%
BN
CA$63.93
Brookfield
7D
9.8%
1Y
41.6%
BAM
CA$67.09
Brookfield Asset Management
7D
7.2%
1Y
0.8%
IGM
CA$72.95
IGM Financial
7D
6.9%
1Y
71.5%

IGM: Higher Payouts And Fine Tuned Models Will Support Steady Returns

Analyst price targets for IGM Financial have been raised by several firms, lifting the consensus closer to CA$69.75 as analysts point to updated assumptions around discount rates, margins and P/E multiples. Analyst Commentary Recent price target changes cluster around the CA$67 to CA$76 range, with several firms adjusting their models for IGM Financial while maintaining existing ratings.
DEFI
CA$1.03
DeFi Technologies
7D
-5.5%
1Y
-65.9%
X
CA$53.62
TMX Group
7D
7.3%
1Y
3.9%
SEC
CA$340.00
Senvest Capital
7D
-2.9%
1Y
6.3%
WED
CA$24.16
Westaim
7D
-1.4%
1Y
-19.8%
PVF.UN
CA$16.00
Partners Value Investments
7D
3.2%
1Y
28.0%
SII
CA$198.81
Sprott
7D
-0.2%
1Y
177.9%
FIH.U
US$18.00
Fairfax India Holdings
7D
9.0%
1Y
12.3%
IDK
CA$0.10
ThreeD Capital
7D
-13.0%
1Y
-25.9%
CF
CA$12.38
Canaccord Genuity Group
7D
2.7%
1Y
53.2%
LBI
CA$0.22
Lions Bay Capital
7D
-24.1%
1Y
120.0%