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Canadian (TSX) Capital Markets Industry Analysis

UpdatedAug 21, 2026
DataAggregated Company Financials
Companies165
  • 7D-7.5%
  • 3M-1.0%
  • 1Y-3.6%
  • YTD-4.0%

Over the last 7 days, the Capital Markets industry has dropped 4.6%, driven by a pullback from Brookfield of 6.6%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 21 Aug 2026CA$320.3bCA$135.0bCA$9.8b7.4x32.8x2.4x
Sun, 19 Jul 2026CA$315.3bCA$133.0bCA$9.4b9.3x33.6x2.4x
Tue, 16 Jun 2026CA$316.7bCA$132.9bCA$9.5b9.8x33.5x2.4x
Thu, 14 May 2026CA$318.3bCA$127.8bCA$9.1b9x34.9x2.5x
Sat, 11 Apr 2026CA$298.5bCA$127.9bCA$8.6b9.4x34.6x2.3x
Mon, 09 Mar 2026CA$295.1bCA$126.2bCA$8.6b9.3x34.4x2.3x
Wed, 04 Feb 2026CA$324.3bCA$123.9bCA$7.6b8.9x42.6x2.6x
Fri, 02 Jan 2026CA$323.7bCA$124.6bCA$7.6b8.9x42.4x2.6x
Sun, 30 Nov 2025CA$331.1bCA$126.5bCA$7.6b9.3x43.6x2.6x
Tue, 28 Oct 2025CA$337.4bCA$128.5bCA$7.3b9.5x46.2x2.6x
Thu, 25 Sep 2025CA$352.0bCA$127.7bCA$7.3b10.3x48.5x2.8x
Sat, 23 Aug 2025CA$329.4bCA$127.0bCA$7.2b12.9x45.7x2.6x
Mon, 21 Jul 2025CA$336.4bCA$132.1bCA$6.4b12x52.7x2.5x
Wed, 18 Jun 2025CA$299.7bCA$131.4bCA$6.4b11.2x47.2x2.3x
Fri, 16 May 2025CA$327.4bCA$134.0bCA$6.1b11.2x54.1x2.4x
Sun, 13 Apr 2025CA$274.3bCA$135.4bCA$4.3b12.9x63.2x2x
Tue, 11 Mar 2025CA$289.3bCA$140.4bCA$5.0b11.8x58.3x2.1x
Thu, 06 Feb 2025CA$232.8bCA$149.7bCA$5.7b12x40.6x1.6x
Sat, 04 Jan 2025CA$228.4bCA$150.8bCA$5.7b12.3x40x1.5x
Mon, 02 Dec 2024CA$232.3bCA$146.6bCA$5.6b11.7x41.5x1.6x
Wed, 30 Oct 2024CA$209.9bCA$152.9bCA$5.5b11.6x37.9x1.4x
Fri, 27 Sep 2024CA$191.8bCA$148.5bCA$5.4b10.5x35.4x1.3x
Sun, 25 Aug 2024CA$178.4bCA$148.8bCA$5.4b10.7x32.8x1.2x
Tue, 23 Jul 2024CA$176.2bCA$151.2bCA$5.4b9.3x32.9x1.2x
Thu, 20 Jun 2024CA$157.9bCA$150.7bCA$5.3b9.9x29.7x1x
Sat, 18 May 2024CA$166.2bCA$149.7bCA$5.3b11x31.5x1.1x
Mon, 15 Apr 2024CA$152.8bCA$157.4bCA$7.3b10.9x20.8x1x
Wed, 13 Mar 2024CA$159.0bCA$156.0bCA$7.9b12x20.1x1x
Fri, 09 Feb 2024CA$151.4bCA$164.7bCA$8.2b8.7x18.4x0.9x
Sun, 07 Jan 2024CA$145.4bCA$154.8bCA$6.5b9.1x22.4x0.9x
Tue, 05 Dec 2023CA$139.0bCA$156.6bCA$6.6b8.7x21.2x0.9x
Thu, 02 Nov 2023CA$110.6bCA$152.5bCA$4.5b10.1x24.5x0.7x
Sat, 30 Sep 2023CA$128.1bCA$152.2bCA$4.8b10.6x26.6x0.8x
Mon, 28 Aug 2023CA$130.4bCA$152.4bCA$4.8b10.5x27x0.9x
Price to Earnings Ratio

27x


Total Market Cap: CA$130.4bTotal Earnings: CA$4.8bTotal Revenue: CA$152.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Capital Markets Industry Price to Earnings3Y Average 37.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Capital Markets industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 32.7x which is lower than its 3-year average PE of 37.4x.
  • The 3-year average PS ratio of 1.8x 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 26% per year over the last three years.
  • Meanwhile revenues for these companies have declined 3.9% 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 Market-1.11%
Financials-5.74%
Capital Markets-7.54%
Investment Banking and Brokerage-4.38%
Financial Exchanges and Data-4.69%
Asset Management-7.70%
Industry PE
  • Investors are most optimistic about the Asset Management industry even though it's trading below its 3-year average PE ratio of 37.3x.
    • Analysts are expecting annual earnings growth of 13.3%, which is lower than the prior year's growth of 59.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 13% over the next 5 years.
  • However this is lower than its past earnings growth rate of 59% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 7.2% 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
SII SprottCA$174.116.6%
+CA$278.9m		96.6%PE30.8x
FIH.U Fairfax India HoldingsUS$19.252.6%
+US$65.8m		4.1%PE12.9x
SEC Senvest CapitalCA$435.001.2%
+CA$12.1m		33.8%PE1.7x
CKI ClarkeCA$23.832.7%
+CA$9.7m		-20.6%PE4.6x
HODL Sol StrategiesCA$1.6715.2%
+CA$8.3m		-80.9%PS7x

Latest News

SII
CA$174.11
Sprott
7D
6.6%
1Y
96.6%
OC
CA$0.12
Olive Resource Capital
7D
0%
1Y
109.1%
X
CA$52.24
TMX Group
7D
-3.4%
1Y
-6.7%
HODL
CA$1.67
Sol Strategies
7D
15.2%
1Y
-80.9%
DEFI
CA$0.70
DeFi Technologies
7D
1.4%
1Y
-76.7%
Narrative Update • Aug 19

DEFI: Balance Sheet Strength Will Support Future Upside Repricing Potential

Analysts now set a fair value price target of CA$7.00 for DeFi Technologies, up from CA$5.75. This reflects updated views on revenue growth potential, improved profit margin assumptions, and a lower discount rate, even as recent Street research highlights reduced near term targets in light of Q2 results and execution risks.
BAM
CA$71.10
Brookfield Asset Management
7D
-8.6%
1Y
-13.4%
ABXX
CA$21.46
Abaxx Technologies
7D
-21.5%
1Y
20.8%
ONEX
CA$112.04
Onex
7D
-5.1%
1Y
-1.5%
CVG
CA$81.18
Clairvest Group
7D
-6.2%
1Y
15.5%
CKI
CA$23.83
Clarke
7D
2.7%
1Y
-20.6%
BN
CA$57.08
Brookfield
7D
-9.1%
1Y
-3.9%
AGF.B
CA$21.83
AGF Management
7D
-6.3%
1Y
85.0%
FIH.U
US$19.25
Fairfax India Holdings
7D
2.6%
1Y
4.1%
IGM
CA$85.72
IGM Financial
7D
-4.1%
1Y
76.7%
Narrative Update • Aug 08

IGM: Higher Street Views And Buybacks May Support Steady Future Returns

The analyst fair value estimate for IGM Financial has been raised from CA$81.75 to CA$87.25, reflecting a series of higher Street price targets as analysts incorporate updated assumptions on discount rate, revenue trends, profit margin and future P/E. Analyst Commentary Recent Street commentary on IGM Financial points to a cluster of price target changes that align with the updated fair value estimate of CA$87.25.
PVF.UN
CA$17.40
Partners Value Investments
7D
0.06%
1Y
5.5%
SEC
CA$435.00
Senvest Capital
7D
1.2%
1Y
33.8%