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Canadian (TSX) Capital Markets Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies172
  • 7D0.9%
  • 3M-4.8%
  • 1Y5.0%
  • YTD5.8%

In the last week, the Capital Markets industry is up 1.0%, with Brookfield up 1.8%. In the last 12 months, the industry was up 6.6%. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025CA$327.4bCA$124.4bCA$7.6b8.6x42.9x2.6x
Fri, 21 Nov 2025CA$316.4bCA$127.5bCA$7.6b9.7x41.4x2.5x
Sun, 19 Oct 2025CA$330.6bCA$128.6bCA$7.3b10.2x45.3x2.6x
Tue, 16 Sep 2025CA$334.9bCA$126.6bCA$7.2b10.3x46.5x2.6x
Thu, 14 Aug 2025CA$336.5bCA$126.4bCA$7.1b11.5x47.2x2.7x
Sat, 12 Jul 2025CA$313.2bCA$131.6bCA$6.4b12.1x49.2x2.4x
Mon, 09 Jun 2025CA$308.6bCA$131.9bCA$6.4b11.2x48.3x2.3x
Wed, 07 May 2025CA$298.8bCA$134.7bCA$4.5b11.1x65.8x2.2x
Fri, 04 Apr 2025CA$308.4bCA$137.1bCA$4.3b13.4x71.7x2.2x
Sun, 02 Mar 2025CA$323.4bCA$140.6bCA$5.0b12.2x65x2.3x
Tue, 28 Jan 2025CA$240.7bCA$150.1bCA$5.7b12.1x42.2x1.6x
Thu, 26 Dec 2024CA$229.0bCA$150.0bCA$5.7b12.4x40.2x1.5x
Sat, 23 Nov 2024CA$219.8bCA$146.3bCA$5.6b11.4x39.4x1.5x
Mon, 21 Oct 2024CA$211.1bCA$151.8bCA$5.5b11.8x38.3x1.4x
Wed, 18 Sep 2024CA$186.3bCA$149.7bCA$5.5b10.5x34.1x1.2x
Fri, 16 Aug 2024CA$172.7bCA$150.9bCA$5.4b10.5x32.2x1.1x
Sun, 14 Jul 2024CA$173.7bCA$150.0bCA$5.3b9.8x32.6x1.2x
Tue, 11 Jun 2024CA$162.8bCA$151.2bCA$5.3b10.6x30.7x1.1x
Thu, 09 May 2024CA$165.5bCA$156.4bCA$6.9b12.4x24.1x1.1x
Sat, 06 Apr 2024CA$153.9bCA$155.5bCA$7.3b10.5x21.2x1x
Mon, 04 Mar 2024CA$158.9bCA$156.7bCA$7.9b12.2x20.1x1x
Wed, 31 Jan 2024CA$154.7bCA$155.1bCA$6.5b9x23.8x1x
Fri, 29 Dec 2023CA$151.3bCA$153.4bCA$6.5b9.3x23.5x1x
Sun, 26 Nov 2023CA$132.9bCA$157.6bCA$6.4b8.3x20.8x0.8x
Tue, 24 Oct 2023CA$126.0bCA$154.5bCA$6.0b10.5x21x0.8x
Thu, 21 Sep 2023CA$135.6bCA$151.1bCA$4.8b10.8x28.3x0.9x
Sat, 19 Aug 2023CA$131.2bCA$154.4bCA$5.8b10.1x22.5x0.8x
Mon, 17 Jul 2023CA$136.1bCA$148.6bCA$5.8b9.5x23.5x0.9x
Wed, 14 Jun 2023CA$123.2bCA$149.8bCA$6.0b7.6x20.4x0.8x
Fri, 12 May 2023CA$128.8bCA$152.1bCA$6.6b9.1x19.5x0.8x
Sun, 09 Apr 2023CA$129.2bCA$149.6bCA$6.8b9.4x18.9x0.9x
Tue, 07 Mar 2023CA$135.5bCA$149.5bCA$7.5b9.3x18.1x0.9x
Thu, 02 Feb 2023CA$139.4bCA$142.5bCA$9.2b9.8x15.1x1x
Sat, 31 Dec 2022CA$124.4bCA$145.0bCA$9.4b9.9x13.2x0.9x
Price to Earnings Ratio

13.2x


Total Market Cap: CA$124.4bTotal Earnings: CA$9.4bTotal Revenue: CA$145.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Capital Markets Industry Price to Earnings3Y Average 33.6x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Capital Markets industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 42.0x which is higher than its 3-year average PE of 33.6x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have declined 6.7% per year over the last three years,
  • Revenues have also declined 4.9% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

CA Market2.23%
Financials1.20%
Capital Markets0.88%
Asset Management0.91%
Financial Exchanges and Data0.26%
Investment Banking and Brokerage-0.39%
Industry PE
  • Investors are most optimistic about the Asset Management industry which is trading above its 3-year average PE ratio of 33.6x.
    • Analysts are expecting annual earnings growth of 13.4%, which is higher than its past year's earnings decline of 3.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Financial Exchanges and Data industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Asset Management industry is expected to see its earnings grow by 13% 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$63.322.3%
+CA$3.2b		14.7%PE124.9x
SII SprottCA$138.735.6%
+CA$188.5m		127.8%PE51.9x
QRC Queen's Road Capital InvestmentCA$10.4712.1%
+CA$57.7m		47.5%PE3.4x
IGM IGM FinancialCA$62.630.4%
+CA$56.7m		34.9%PE14.3x
X TMX GroupCA$52.260.3%
+CA$50.1m		17.5%PE31.6x

Latest News

IGM
CA$62.63
IGM Financial
7D
0.4%
1Y
34.9%
PALI
CA$2.35
Palisades Goldcorp
7D
13.5%
1Y
79.4%
AD.UN
CA$21.14
Alaris Equity Partners Income Trust
7D
3.2%
1Y
10.4%
ONEX
CA$111.97
Onex
7D
-0.3%
1Y
1.5%
X
CA$52.26
TMX Group
7D
0.3%
1Y
17.5%

X: Earnings Momentum Will Support Future Outperformance As Business Model Shows Durable Resilience

The Analyst Price Target for TMX Group has nudged higher to approximately C$62.63 from C$62.50, as analysts point to resilient earnings momentum, steady revenue growth expectations, and valuation support from recent target revisions across the Street. Analyst Commentary Recent research updates present a mixed but generally constructive backdrop for TMX Group, with several firms adjusting price targets while reiterating positive views on the company’s earnings profile and strategic execution.
DEFI
CA$1.27
DeFi Technologies
7D
-8.6%
1Y
-70.0%

DEFI: Execution Will Improve As Delays Ease And Shares Recover

Analysts cut their price target on DeFi Technologies by half, to approximately $2.50 from about $5.00. They cited project delays and a slightly higher perceived risk profile that modestly raises the discount rate and future valuation multiple in their models.
OLY
CA$111.73
Olympia Financial Group
7D
-4.5%
1Y
2.5%

Olympia Financial Group (TSE:OLY) Is Paying Out A Dividend Of CA$0.60

Dec 11
Olympia Financial Group (TSE:OLY) Is Paying Out A Dividend Of CA$0.60
BN
CA$63.32
Brookfield
7D
2.3%
1Y
14.7%
BAM
CA$72.74
Brookfield Asset Management
7D
-0.5%
1Y
-8.8%
SEC
CA$371.50
Senvest Capital
7D
-3.0%
1Y
6.1%
SII
CA$138.73
Sprott
7D
5.6%
1Y
127.8%

Here's Why Sprott (TSE:SII) Has Caught The Eye Of Investors

Nov 30
Here's Why Sprott (TSE:SII) Has Caught The Eye Of Investors
WNDR
CA$0.29
WonderFi Technologies
7D
-4.9%
1Y
-4.9%
WED
CA$26.21
Westaim
7D
-4.7%
1Y
-14.2%
CKI
CA$21.10
Clarke
7D
-4.1%
1Y
-10.6%
QRC
CA$10.47
Queen's Road Capital Investment
7D
12.1%
1Y
47.5%
FIH.U
US$16.85
Fairfax India Holdings
7D
1.5%
1Y
7.3%

Shareholders Should Be Pleased With Fairfax India Holdings Corporation's (TSE:FIH.U) Price

Nov 03
Shareholders Should Be Pleased With Fairfax India Holdings Corporation's (TSE:FIH.U) Price